INTERNATIONAL FLAVORS&FRAGRA IFF
COM · Common Stock · CUSIP 459506101 · ISIN US4595061015
American corporation which produces flavors and fragrances
* 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 ($56.7m this quarter). Holder counts are more reliable. Shares outstanding: 255.0m as of 2022-10-31, 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 ≈ $105.08. Options: 23 managers hold calls ($184.4m notional), 23 hold puts ($61.5m).
Trends to Q4 2022
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 732 |
| Q4 2022 | 768 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $67.2m | $63.0m | 0.94 |
| Q4 2022 | $184.4m | $61.5m | 0.33 |
Biggest buyers
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +2.9m |
| Third Point LLC | New | +2.3m |
| Impax Asset Management Group plc | Added | +1.6m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +1.5m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.4m |
| BlackRock Inc. | Added | +1.3m |
| Amundi | Added | +1.2m |
| Sarasin & Partners LLP | Added | +846.2k |
| MORGAN STANLEY | Added | +824.6k |
| VAN ECK ASSOCIATES CORP | Added | +819.6k |
Biggest sellers
| VIKING GLOBAL INVESTORS LP | Reduced | -3.3m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Reduced | -2.3m |
| NORGES BANK | Reduced | -1.9m |
| EdgePoint Investment Group Inc. | Reduced | -1.6m |
| NOMURA HOLDINGS INC | Reduced | -1.0m |
| MARSHALL WACE, LLP | Reduced | -853.8k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -687.4k |
| AMERIPRISE FINANCIAL INC | Reduced | -677.1k |
| JANUS HENDERSON GROUP PLC | Reduced | -638.7k |
| FMR LLC | Reduced | -594.7k |
Biggest calls
| Saraza Management, LP | New | $71.5m6.5k shares |
| CITADEL ADVISORS LLC | Reduced | $21.3m203.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $15.9m152.0k shares |
| SIMPLEX TRADING, LLC | Added | $13.9m132.8k shares |
| Governors Lane LP | New | $11.5m110.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $8.3m78.7k shares |
| Twin Tree Management, LP | Reduced | $8.2m78.5k shares |
| Caption Management, LLC | Added | $7.9m75.0k shares |
| WOLVERINE TRADING, LLC | Added | $4.5m43.3k shares |
| GOLDMAN SACHS GROUP INC | New | $4.3m41.3k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $14.5m137.9k shares |
| Twin Tree Management, LP | Reduced | $7.3m69.5k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $6.5m62.0k shares |
| GOLDMAN SACHS GROUP INC | New | $5.2m50.0k shares |
| Cubist Systematic Strategies, LLC | Added | $5.0m47.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $4.6m43.4k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Reduced | $3.5m33.0k shares |
| Paloma Partners Management Co | New | $3.3m31.1k shares |
| CAPITAL FUND MANAGEMENT S.A. | New | $1.9m17.7k shares |
| BARCLAYS PLC | First filing | $1.6m15.0k 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 |
|---|---|
| DODGE & COX 13G · institution +1.4 pts · filed 2025-08-13 | 13.7% |
| Winder Pte. Ltd. 13G · passive investor filed 2025-02-14 | 9.9% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 7.4% |
| BlackRock, Inc. 13G · institution filed 2025-04-24 | 7.0% |
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 Q4 2022
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 |
|---|---|---|---|---|---|
| Q1 2021 | 0 | — | 0 | — | — |
| Q2 2021 | 0 | — | 0 | — | — |
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 0 | — | — |
| Q1 2022 | 0 | — | 0 | — | — |
| Q2 2022 | 0 | — | 1 | $160.1k | — |
| Q3 2022 | 0 | — | 1 | $1.2m | — |
| Q4 2022 | 0 | — | 0 | — | — |
None reported in Q4 2022.
Holders, Q4 2022
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.09% of their portfolio | 31.9m $3.3bn | Added +327.5k |
| Winder Investment Pte Ltd 55.66% of their portfolio | 25.4m $2.7bn | Unchanged |
| BlackRock Inc. 0.07% of their portfolio | 21.9m $2.3bn | Added +1.3m |
| STATE STREET CORP 0.07% of their portfolio | 10.5m $1.1bn | Added +4.3k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.32% of their portfolio | 8.7m $910.2m | Added +1.5m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.13% of their portfolio | 7.8m $814.9m | Added +2.9m |
| Amundi 0.42% of their portfolio | 6.6m $758.3m | Added +1.2m |
| Sachem Head Capital Management LP 26.40% of their portfolio | 6.4m $675.8m | Added +190.0k |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 5.2m $539.8m | Added +117.0k |
| Saraza Management, LP 68.13% of their portfolio | 4.5m $466.5m | Reduced -512.5k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.43% of their portfolio | 4.0m $415.8m | Unchanged |
| NORDEA INVESTMENT MANAGEMENT AB 0.60% of their portfolio | 3.7m $383.7m | Added +458.9k |
| AMERIPRISE FINANCIAL INC 0.13% of their portfolio | 3.6m $375.9m | Reduced -677.1k |
| NORTHERN TRUST CORP 0.07% of their portfolio | 3.2m $334.2m | Added +102.1k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 1.22% of their portfolio | 3.1m $323.8m | Reduced -2.3m |
| Sarasin & Partners LLP 4.20% of their portfolio | 3.1m $320.9m | Added +846.2k |
| Nuveen Asset Management, LLC 0.12% of their portfolio | 3.0m $313.3m | Added +196.5k |
| MORGAN STANLEY 0.03% of their portfolio | 2.9m $305.0m | Added +824.6k |
| First Pacific Advisors, LP 4.60% of their portfolio | 2.9m $299.9m | Added +362.8k |
| Capital Research Global Investors 0.08% of their portfolio | 2.4m $256.3m | Added +427.6k |
| Capital International Investors 0.07% of their portfolio | 2.3m $242.2m | Added +5.8k |
| Third Point LLC 4.04% of their portfolio | 2.3m $241.1m | New |
| Impax Asset Management Group plc 1.01% of their portfolio | 2.2m $225.7m | Added +1.6m |
| Bank of New York Mellon Corp 0.05% of their portfolio | 2.0m $206.8m | Added +47.1k |
| FMR LLC 0.02% of their portfolio | 2.0m $206.1m | Reduced -594.7k |
| Legal & General Group Plc 0.07% of their portfolio | 1.8m $189.8m | Reduced -88.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.10% of their portfolio | 1.8m $183.8m | Added +134.1k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 1.7m $176.0m | Reduced -236.4k |
| VAN ECK ASSOCIATES CORP 0.44% of their portfolio | 1.6m $171.2m | Added +819.6k |
| DIMENSIONAL FUND ADVISORS LP 0.06% of their portfolio | 1.6m $169.1m | Reduced -21.8k |
| MILLENNIUM MANAGEMENT LLC 0.17% of their portfolio | 1.4m $149.8m | Added +1.4m |
| Sessa Capital IM, L.P. 8.70% of their portfolio | 1.3m $141.5m | Added +655.6k |
| UBS Group AG 0.07% of their portfolio | 1.3m $139.9m | Reduced -122.4k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 1.50% of their portfolio | 1.3m $136.6m | Added +16.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 1.3m $134.7m | Added +35.5k |
| PICTET ASSET MANAGEMENT SA 0.18% of their portfolio | 1.2m $126.6m | Reduced -71.0k |
| Invesco Ltd. 0.04% of their portfolio | 1.2m $125.1m | Added +80.8k |
| TORONTO DOMINION BANK 0.18% of their portfolio | 1.1m $118.6m | Added +104.6k |
| NORGES BANK 0.03% of their portfolio | 1.0m $109.0m | Reduced -1.9m |
| Swiss National Bank 0.08% of their portfolio | 1.0m $108.6m | Reduced -67.2k |
| FIRST TRUST ADVISORS LP 0.12% of their portfolio | 989.4k $103.7m | Added +227.6k |
| Ensign Peak Advisors, Inc 0.23% of their portfolio | 973.7k $102.1m | Added +58.2k |
| Ceredex Value Advisors LLC 1.53% of their portfolio | 942.1k $99.5m | Added +496.9k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 840.4k $88.1m | Reduced -53.6k |
| HSBC HOLDINGS PLC 0.10% of their portfolio | 805.2k $84.0m | Added +107.7k |
| Swedbank AB 0.18% of their portfolio | 793.4k $83.2m | Reduced -25.8k |
| HAWK RIDGE CAPITAL MANAGEMENT LP 5.28% of their portfolio | 744.1k $78.0m | Reduced -95.9k |
| SHAPIRO CAPITAL MANAGEMENT LLC 2.08% of their portfolio | 744.1k $78.0m | Reduced -8.4k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 739.9k $77.6m | Added +78.9k |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 733.5k $76.9m | Added +226.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.06% of their portfolio | 720.6k $75.5m | Reduced -1.8k |
| Douglas Lane & Associates, LLC 1.25% of their portfolio | 714.0k $74.9m | Added +161.3k |
| Robeco Schweiz AG 1.31% of their portfolio | 682.2k $71.5m | Reduced -124.9k |
| ICAHN CARL C 0.31% of their portfolio | 644.5k $67.6m | Unchanged |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 591.5k $62.0m | Added +1.6k |
| California Public Employees Retirement System 0.05% of their portfolio | 559.9k $58.7m | Reduced -10.3k |
| MARSHALL WACE, LLP 0.14% of their portfolio | 536.4k $56.2m | Reduced -853.8k |
| Saratoga Research & Investment Management 2.67% of their portfolio | 516.0k $54.1m | Reduced -19.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio | 514.0k $53.9m | Added +35.5k |
| CREDIT SUISSE AG/ 0.06% of their portfolio | 510.0k $53.5m | Added +43.6k |
| BARCLAYS PLC 0.05% of their portfolio | 505.6k $53.0m | First filing |
| PARNASSUS INVESTMENTS, LLC 0.13% of their portfolio | 482.8k $50.6m | New |
| RHUMBLINE ADVISERS 0.07% of their portfolio | 476.4k $49.9m | Added +19.5k |
| VIKING GLOBAL INVESTORS LP 0.23% of their portfolio | 439.4k $46.1m | Reduced -3.3m |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.07% of their portfolio | 439.0k $46.0m | Added +10.2k |
| VICTORY CAPITAL MANAGEMENT INC 0.05% of their portfolio | 401.3k $42.1m | Reduced -16.9k |
| APG Asset Management N.V. 0.08% of their portfolio | 395.3k $41.4m | Added +49.2k |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.22% of their portfolio | 378.4k $39.7m | Added +11.6k |
| Brahman Capital Corp. 5.20% of their portfolio | 357.9k $37.5m | New |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 355.8k $37.3m | Added +37.5k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 354.8k $37.2m | Added +63.5k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.06% of their portfolio | 347.8k $36.5m | Reduced -88.2k |
| Cannell & Co. 1.31% of their portfolio | 346.5k $36.3m | Added +56.3k |
| DNB Asset Management AS 0.25% of their portfolio | 344.9k $36.2m | Reduced -10.1k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.05% of their portfolio | 332.7k $34.9m | Added +6.5k |
| CADEN CAPITAL PARTNERS, LP 15.52% of their portfolio | 323.2k $33.9m | First filing |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 307.4k $32.2m | Reduced -11.2k |
| National Pension Service 0.06% of their portfolio | 305.0k $32.0m | Added +3.7k |
| GAMCO INVESTORS, INC. ET AL 0.34% of their portfolio | 299.1k $31.4m | Reduced -5.6k |
| DEPRINCE RACE & ZOLLO INC 0.71% of their portfolio | 296.9k $31.1m | New |
| BANK OF NOVA SCOTIA 0.08% of their portfolio | 292.7k $30.7m | Reduced -346.6k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.11% of their portfolio | 286.6k $30.0m | Added +77.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.06% of their portfolio | 283.3k $29.7m | Added +215.3k |
| Alyeska Investment Group, L.P. 0.30% of their portfolio | 276.3k $29.0m | New |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND 0.41% of their portfolio | 274.3k $28.8m | Added +41.8k |
| CITIGROUP INC 0.04% of their portfolio | 271.6k $28.5m | Added +47.0k |
| PRUDENTIAL FINANCIAL INC 0.05% of their portfolio | 264.4k $27.7m | Reduced -6.1k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.07% of their portfolio | 263.6k $27.6m | Added +640 |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.07% of their portfolio | 259.3k $27.2m | Reduced -400 |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.05% of their portfolio | 257.6k $27.0m | Reduced -3.5k |
| RNC CAPITAL MANAGEMENT LLC 1.48% of their portfolio | 251.4k $26.4m | Reduced -12.2k |
| BROWN BROTHERS HARRIMAN & CO 0.23% of their portfolio | 250.1k $26.2m | Unchanged |
| OSSIAM 0.64% of their portfolio | 234.6k $24.6m | Added +23.9k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 234.5k $24.6m | Added +72 |
| CANADA LIFE ASSURANCE Co 0.06% of their portfolio | 232.3k $24.5m | Reduced -536 |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 229.2k $24.0m | Added +11.3k |
| GABELLI FUNDS LLC 0.19% of their portfolio | 228.2k $23.9m | Added +26.8k |
| GREAT LAKES ADVISORS, LLC 0.18% of their portfolio | 227.0k $3.2m | Reduced -9.8k |
| Corient Private Wealth LP 0.08% of their portfolio | 223.1k $23.4m | First filing |
| STATE OF WISCONSIN INVESTMENT BOARD 0.07% of their portfolio | 221.7k $23.2m | Reduced -15.3k |