INTERNATIONAL BUSINESS MACHS IBM
COM · Common Stock · CUSIP 459200101 · ISIN US4592001014
American multinational technology company
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($531.1m this quarter). Holder counts are more reliable. Shares outstanding: 931.5m as of 2025-06-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $293.62. Options: 67 managers hold calls ($4.2bn notional), 63 hold puts ($3.8bn).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 2,288 |
| Q4 2022 | 2,435 |
| Q1 2023 | 2,398 |
| Q2 2023 | 2,428 |
| Q3 2023 | 2,468 |
| Q4 2023 | 2,685 |
| Q1 2024 | 2,807 |
| Q2 2024 | 2,762 |
| Q3 2024 | 2,939 |
| Q4 2024 | 3,145 |
| Q1 2025 | 3,266 |
| Q2 2025 | 3,409 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2023 | 1,113 | 1,062 |
| Q4 2023 | 1,149 | 1,145 |
| Q1 2024 | 1,325 | 1,199 |
| Q2 2024 | 1,310 | 1,173 |
| Q3 2024 | 1,388 | 1,191 |
| Q4 2024 | 1,300 | 1,276 |
| Q1 2025 | 1,500 | 1,410 |
| Q2 2025 | 1,598 | 1,389 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $4.2bn | $2.8bn | 0.66 |
| Q4 2024 | $4.8bn | $3.2bn | 0.67 |
| Q1 2025 | $3.9bn | $3.0bn | 0.76 |
| Q2 2025 | $4.2bn | $3.8bn | 0.89 |
Biggest buyers
| ROYAL BANK OF CANADA | Added | +4.8m |
| VICTORY CAPITAL MANAGEMENT INC | Added | +3.2m |
| VANGUARD GROUP INC | Added | +1.9m |
| BROADWATER CAPITAL MANAGEMENT LLC | Added | +1.9m |
| JPMORGAN CHASE & CO | Added | +1.6m |
| NORGES BANK | Added | +1.2m |
| GQG Partners LLC | Added | +509.5k |
| Rockefeller Capital Management L.P. | Added | +502.9k |
| FRANKLIN RESOURCES INC | Added | +412.6k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +400.1k |
Biggest sellers
| Amundi | Reduced | -2.3m |
| BlackRock, Inc. | Reduced | -2.0m |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -1.6m |
| FIRST TRUST ADVISORS LP | Reduced | -831.2k |
| KBC Group NV | Reduced | -743.6k |
| Nuveen, LLC | Reduced | -695.1k |
| MARSHALL WACE, LLP | Sold out | -688.4k |
| BANK OF AMERICA CORP /DE/ | Reduced | -639.6k |
| Capital World Investors | Reduced | -561.0k |
| APG Asset Management N.V. | Sold out | -513.8k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $886.0m3.0m shares |
| CITADEL ADVISORS LLC | Reduced | $765.8m2.6m shares |
| JANE STREET GROUP, LLC | Reduced | $296.0m1.0m shares |
| PEAK6 LLC | Added | $249.3m845.8k shares |
| IMC-Chicago, LLC | Added | $187.4m635.6k shares |
| Squarepoint Ops LLC | Added | $134.0m454.7k shares |
| D. E. Shaw & Co., Inc. | Reduced | $131.6m446.6k shares |
| WOLVERINE TRADING, LLC | Reduced | $129.9m448.5k shares |
| SIMPLEX TRADING, LLC | Added | $119.0m403.7k shares |
| NATIONAL BANK OF CANADA /FI/ | New | $106.4m3.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $919.4m3.1m shares |
| CITADEL ADVISORS LLC | Added | $692.3m2.3m shares |
| GOLDMAN SACHS GROUP INC | Added | $206.3m699.8k shares |
| SIMPLEX TRADING, LLC | Added | $185.8m630.3k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $182.3m618.3k shares |
| IMC-Chicago, LLC | Added | $153.4m520.5k shares |
| CITIGROUP INC | Added | $113.4m384.8k shares |
| JANE STREET GROUP, LLC | Reduced | $109.8m372.4k shares |
| Qube Research & Technologies Ltd | Reduced | $105.6m358.1k shares |
| Squarepoint Ops LLC | Added | $100.3m340.1k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.5% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 1 | $1.8m | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 1 | $197.1k | 1 | $774.7k | — |
| Q1 2025 | 1 | $298.8k | 1 | $6.7m | — |
| Q2 2025 | 0 | — | 0 | — | — |
None reported in Q2 2025.
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.45% of their portfolio | 95.1m $28.0bn | Added +1.9m |
| BlackRock, Inc. 0.44% of their portfolio | 77.8m $22.9bn | Reduced -2.0m |
| STATE STREET CORP 0.60% of their portfolio | 54.5m $16.1bn | Added +147.7k |
| JPMORGAN CHASE & CO 0.45% of their portfolio | 22.4m $6.6bn | Added +1.6m |
| GEODE CAPITAL MANAGEMENT, LLC 0.45% of their portfolio | 21.9m $6.4bn | Added +400.1k |
| MORGAN STANLEY 0.31% of their portfolio | 16.1m $4.8bn | Reduced -373.5k |
| BANK OF AMERICA CORP /DE/ 0.37% of their portfolio | 15.4m $4.5bn | Reduced -639.6k |
| Capital World Investors 0.64% of their portfolio | 15.0m $4.4bn | Reduced -561.0k |
| NORTHERN TRUST CORP 0.42% of their portfolio | 10.5m $3.1bn | Reduced -306.3k |
| ROYAL BANK OF CANADA 0.26% of their portfolio | 9.0m $2.6bn | Added +4.8m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.53% of their portfolio | 8.8m $2.6bn | Added +195.2k |
| Bank of New York Mellon Corp 0.40% of their portfolio | 7.1m $2.1bn | Reduced -502.8k |
| Legal & General Group Plc 0.52% of their portfolio | 7.1m $2.1bn | Added +234.3k |
| NORGES BANK 0.25% of their portfolio | 6.8m $2.0bn | Added +1.2m |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.34% of their portfolio | 6.7m $2.0bn | Added +79.5k |
| AMERIPRISE FINANCIAL INC 0.40% of their portfolio | 5.6m $1.6bn | Added +46.9k |
| DIMENSIONAL FUND ADVISORS LP 0.34% of their portfolio | 5.0m $1.5bn | Reduced -79.1k |
| FMR LLC 0.08% of their portfolio | 5.0m $1.5bn | Added +244.7k |
| GOLDMAN SACHS GROUP INC 0.24% of their portfolio | 5.0m $1.5bn | Added +289.6k |
| GQG Partners LLC 1.97% of their portfolio | 4.7m $1.4bn | Added +509.5k |
| WELLS FARGO & COMPANY/MN 0.30% of their portfolio | 4.6m $1.4bn | Added +198.1k |
| UBS Group AG 0.28% of their portfolio | 4.5m $1.3bn | Reduced -141.0k |
| Amundi 0.40% of their portfolio | 4.1m $1.2bn | Reduced -2.3m |
| Invesco Ltd. 0.19% of their portfolio | 3.8m $1.1bn | Added +296.3k |
| California Public Employees Retirement System 0.70% of their portfolio | 3.7m $1.1bn | Reduced -502.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.66% of their portfolio | 3.5m $1.0bn | Added +3.2m |
| DEUTSCHE BANK AG\ 0.37% of their portfolio | 3.4m $997.9m | Reduced -405.4k |
| BARCLAYS PLC 0.38% of their portfolio | 3.2m $951.2m | Reduced -27.5k |
| Nuveen, LLC 0.26% of their portfolio | 3.2m $933.6m | Reduced -695.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.11% of their portfolio | 3.2m $931.0m | Reduced -6.9k |
| RAYMOND JAMES FINANCIAL INC 0.31% of their portfolio | 3.1m $912.2m | Added +106.9k |
| Swiss National Bank 0.50% of their portfolio | 2.8m $827.4m | Added +199.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.46% of their portfolio | 2.5m $738.5m | Added +24.7k |
| HSBC HOLDINGS PLC 0.46% of their portfolio | 2.4m $713.4m | Reduced -161.7k |
| Capital Wealth Planning, LLC 5.39% of their portfolio | 2.3m $683.5m | Added +200.9k |
| FIRST TRUST ADVISORS LP 0.52% of their portfolio | 2.2m $644.9m | Reduced -831.2k |
| National Pension Service 0.55% of their portfolio | 2.2m $642.0m | Reduced -65.5k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.45% of their portfolio | 1.9m $566.1m | Added +125.7k |
| BROADWATER CAPITAL MANAGEMENT LLC 1.48% of their portfolio | 1.9m $1.9m | Added +1.9m |
| STIFEL FINANCIAL CORP 0.50% of their portfolio | 1.8m $518.7m | Reduced -51.0k |
| LPL Financial LLC 0.16% of their portfolio | 1.7m $491.1m | Added +258.0k |
| RHUMBLINE ADVISERS 0.41% of their portfolio | 1.6m $482.5m | Reduced -46.3k |
| ALLIANCEBERNSTEIN L.P. 0.15% of their portfolio | 1.6m $469.2m | Added +108.4k |
| NEUBERGER BERMAN GROUP LLC 0.35% of their portfolio | 1.5m $449.7m | Reduced -135.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.48% of their portfolio | 1.5m $433.7m | Added +7.7k |
| ENVESTNET ASSET MANAGEMENT INC 0.12% of their portfolio | 1.4m $417.1m | Added +75.4k |
| CITIGROUP INC 0.28% of their portfolio | 1.4m $400.0m | Added +185.0k |
| DekaBank Deutsche Girozentrale 0.70% of their portfolio | 1.4m $394.6m | Reduced -4.0k |
| FRANKLIN RESOURCES INC 0.10% of their portfolio | 1.3m $387.1m | Added +412.6k |
| MACKENZIE FINANCIAL CORP 0.50% of their portfolio | 1.3m $383.2m | Added +261.6k |
| HighTower Advisors, LLC 0.47% of their portfolio | 1.3m $376.8m | Reduced -73.6k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.31% of their portfolio | 1.2m $364.4m | Reduced -166.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.47% of their portfolio | 1.2m $355.6m | Added +1.4k |
| BANK OF MONTREAL /CAN/ 0.18% of their portfolio | 1.2m $350.9m | Reduced -255.0k |
| CANADA LIFE ASSURANCE Co 0.55% of their portfolio | 1.2m $347.2m | Reduced -19.0k |
| PNC Financial Services Group, Inc. 0.22% of their portfolio | 1.2m $344.3m | Reduced -12.9k |
| BNP PARIBAS FINANCIAL MARKETS 0.26% of their portfolio | 1.1m $334.0m | Reduced -1.6m |
| WEALTH ENHANCEMENT ADVISORY SERVICES, LLC 0.53% of their portfolio | 1.1m $319.8m | Reduced -62.9k |
| Aberdeen Group plc 0.54% of their portfolio | 1.1m $319.8m | Added +72.8k |
| KBC Group NV 0.87% of their portfolio | 1.1m $321.1m | Reduced -743.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.16% of their portfolio | 1.0m $306.2m | Reduced -37.2k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.49% of their portfolio | 981.2k $289.2m | Added +88.0k |
| Swedbank AB 0.32% of their portfolio | 978.1k $288.3m | First filing |
| ProShare Advisors LLC 0.58% of their portfolio | 978.1k $288.3m | Reduced -101.8k |
| W1M Investment Management Ltd 3.90% of their portfolio | 961.7k $283.3m | Added +603 |
| AQR CAPITAL MANAGEMENT LLC 0.23% of their portfolio | 948.6k $277.5m | Added +120.1k |
| Thrivent Financial for Lutherans 0.60% of their portfolio | 936.2k $275.9m | Reduced -181.6k |
| Rockefeller Capital Management L.P. 0.32% of their portfolio | 920.6k $271.4m | Added +502.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.23% of their portfolio | 894.0k $263.5m | Added +360.9k |
| BESSEMER GROUP INC 0.43% of their portfolio | 893.1k $263.3m | Added +305.8k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.47% of their portfolio | 892.4k $263.1m | Added +14.9k |
| TRUIST FINANCIAL CORP 0.38% of their portfolio | 868.1k $255.9m | Added +21.6k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.25% of their portfolio | 809.4k $238.6m | Reduced -128.4k |
| Unisphere Establishment 1.78% of their portfolio | 750.0k $221.1m | Reduced -100.0k |
| Robeco Institutional Asset Management B.V. 0.35% of their portfolio | 744.4k $219.4m | Added +18.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.46% of their portfolio | 742.8k $219.0m | Added +1.8k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.37% of their portfolio | 713.1k $210.2m | Reduced -36.3k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.27% of their portfolio | 700.4k $206.5m | Reduced -9.8k |
| AVIVA PLC 0.42% of their portfolio | 693.3k $204.4m | Added +47.3k |
| NATIXIS ADVISORS, LLC 0.31% of their portfolio | 664.3k $195.8m | Added +8.8k |
| TD Asset Management Inc 0.17% of their portfolio | 664.3k $195.8m | Added +17.8k |
| Mitsubishi UFJ Trust & Banking Corp 0.45% of their portfolio | 663.8k $195.7m | Reduced -90.0k |
| PRUDENTIAL FINANCIAL INC 0.25% of their portfolio | 654.7k $193.0m | Reduced -23.7k |
| Korea Investment CORP 0.42% of their portfolio | 635.2k $187.3m | Added +73.2k |
| Treasurer of the State of North Carolina 0.58% of their portfolio | 616.1k $181.6m | Added +126.3k |
| Janney Montgomery Scott LLC 0.46% of their portfolio | 603.2k $177.8m | Added +8.5k |
| TCW GROUP INC 1.36% of their portfolio | 590.8k $174.2m | Reduced -37.8k |
| Retirement Systems of Alabama 0.62% of their portfolio | 590.1k $174.0m | Reduced -83.0k |
| Russell Investments Group, Ltd. 0.22% of their portfolio | 586.1k $172.1m | Reduced -44.0k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.42% of their portfolio | 583.0k $171.8m | Added +13.4k |
| Swiss Life Asset Management Ltd 1.00% of their portfolio | 576.7k $170.0m | Reduced -25.9k |
| CAPTRUST FINANCIAL ADVISORS 0.37% of their portfolio | 568.6k $167.6m | Added +36.4k |
| Pictet Asset Management Holding SA 0.17% of their portfolio | 555.1k $163.6m | Added +1.6k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.15% of their portfolio | 551.5k $162.6m | Reduced -19.9k |
| US BANCORP \DE\ 0.20% of their portfolio | 539.4k $159.0m | Reduced -6.9k |
| Asset Management One Co., Ltd. 0.49% of their portfolio | 528.2k $155.7m | Added +2.9k |
| AMERICAN CENTURY COMPANIES INC 0.08% of their portfolio | 523.3k $154.3m | Added +75.9k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.30% of their portfolio | 520.9k $153.5m | Added +27.5k |
| Chevy Chase Trust Holdings, LLC 0.44% of their portfolio | 516.2k $152.2m | Added +11.3k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.37% of their portfolio | 513.8k $151.4m | Reduced -21.6k |