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 ($75.6m this quarter). Holder counts are more reliable. Shares outstanding: 255.1m as of 2023-05-03, 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 ≈ $92.02. Options: 23 managers hold calls ($100.1m notional), 23 hold puts ($84.4m).
Trends to Q1 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 732 |
| Q4 2022 | 768 |
| Q1 2023 | 759 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 379 | 322 |
| Q1 2023 | 386 | 322 |
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 |
| Q1 2023 | $100.1m | $84.4m | 0.84 |
Biggest buyers
| Capital Research Global Investors | Added | +3.3m |
| STATE STREET CORP | Added | +2.8m |
| NOMURA HOLDINGS INC | Added | +2.8m |
| Hudson Bay Capital Management LP | New | +780.0k |
| NORDEA INVESTMENT MANAGEMENT AB | Added | +763.2k |
| UBS Group AG | Added | +568.8k |
| GOLDMAN SACHS GROUP INC | Added | +471.5k |
| Schonfeld Strategic Advisors LLC | Added | +469.3k |
| VAN ECK ASSOCIATES CORP | Added | +426.9k |
| STRS OHIO | Added | +386.3k |
Biggest sellers
| Amundi | Reduced | -3.7m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -3.2m |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | Reduced | -2.7m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.0m |
| MORGAN STANLEY | Reduced | -779.9k |
| FMR LLC | Reduced | -755.3k |
| CITADEL ADVISORS LLC | Reduced | -681.7k |
| Nuveen Asset Management, LLC | Reduced | -573.2k |
| AMERIPRISE FINANCIAL INC | Reduced | -536.4k |
| MARSHALL WACE, LLP | Sold out | -536.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $24.5m265.9k shares |
| CITADEL ADVISORS LLC | Added | $19.3m209.4k shares |
| SIMPLEX TRADING, LLC | Added | $13.6m148.1k shares |
| Cubist Systematic Strategies, LLC | Added | $13.3m144.5k shares |
| CastleKnight Management LP | New | $4.1m45.0k shares |
| GROUP ONE TRADING LLC | Added | $3.9m42.1k shares |
| GOLDMAN SACHS GROUP INC | Unchanged | $3.8m41.3k shares |
| WOLVERINE TRADING, LLC | Reduced | $3.5m38.3k shares |
| MILLENNIUM MANAGEMENT LLC | Reduced | $3.3m35.5k shares |
| NOMURA HOLDINGS INC | New | $2.6m28.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $18.2m198.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $16.6m180.1k shares |
| BANK OF AMERICA CORP /DE/ | New | $16.1m175.0k shares |
| D. E. Shaw & Co., Inc. | Unchanged | $5.7m62.0k shares |
| SIMPLEX TRADING, LLC | Added | $4.8m52.0k shares |
| Cubist Systematic Strategies, LLC | Added | $4.4m47.6k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Added | $3.1m33.9k shares |
| PEAK6 Investments LLC | Added | $2.9m31.3k shares |
| WOLVERINE TRADING, LLC | Added | $1.8m19.4k shares |
| Private Capital Management, LLC | New | $1.7m19.0k 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 Q1 2023
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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
None reported in Q1 2023.
Holders, Q1 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.08% of their portfolio | 32.0m $2.9bn | Added +123.8k |
| Winder Investment Pte Ltd 50.46% of their portfolio | 25.4m $2.3bn | Unchanged |
| BlackRock Inc. 0.06% of their portfolio | 21.4m $2.0bn | Reduced -519.0k |
| STATE STREET CORP 0.07% of their portfolio | 13.4m $1.2bn | Added +2.8m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.28% of their portfolio | 9.0m $825.8m | Added +297.7k |
| Sachem Head Capital Management LP 27.22% of their portfolio | 6.7m $614.7m | Added +238.3k |
| Capital Research Global Investors 0.15% of their portfolio | 5.7m $524.3m | Added +3.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.06% of their portfolio | 5.3m $484.0m | Added +116.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.06% of their portfolio | 4.6m $420.8m | Reduced -3.2m |
| NORDEA INVESTMENT MANAGEMENT AB 0.59% of their portfolio | 4.4m $404.8m | Added +763.2k |
| Saraza Management, LP 62.81% of their portfolio | 4.1m $378.0m | Reduced -340.0k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.38% of their portfolio | 4.0m $364.7m | Unchanged |
| NORTHERN TRUST CORP 0.06% of their portfolio | 3.1m $286.0m | Reduced -76.9k |
| Sarasin & Partners LLP 1.56% of their portfolio | 3.1m $290.3m | Added +25.4k |
| First Pacific Advisors, LP 4.40% of their portfolio | 3.1m $283.5m | Added +222.8k |
| AMERIPRISE FINANCIAL INC 0.09% of their portfolio | 3.0m $280.4m | Reduced -536.4k |
| NOMURA HOLDINGS INC 2.64% of their portfolio | 2.9m $270.3m | Added +2.8m |
| Amundi 0.14% of their portfolio | 2.9m $262.9m | Reduced -3.7m |
| Third Point LLC 3.84% of their portfolio | 2.5m $234.5m | Added +250.0k |
| Nuveen Asset Management, LLC 0.08% of their portfolio | 2.4m $222.1m | Reduced -573.2k |
| Capital International Investors 0.05% of their portfolio | 2.3m $213.0m | Added +6.1k |
| Impax Asset Management Group plc 0.86% of their portfolio | 2.2m $206.7m | Added +95.1k |
| MORGAN STANLEY 0.02% of their portfolio | 2.1m $195.8m | Reduced -779.9k |
| VAN ECK ASSOCIATES CORP 0.43% of their portfolio | 2.1m $189.4m | Added +426.9k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 2.0m $181.0m | Reduced -5.1k |
| BANK OF AMERICA CORP /DE/ 0.02% of their portfolio | 2.0m $179.5m | Added +273.4k |
| UBS Group AG 0.08% of their portfolio | 1.9m $175.0m | Added +568.8k |
| Legal & General Group Plc 0.06% of their portfolio | 1.8m $168.1m | Added +17.4k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 1.7m $152.0m | Added +39.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.07% of their portfolio | 1.5m $137.7m | Reduced -255.7k |
| Invesco Ltd. 0.04% of their portfolio | 1.5m $134.3m | Added +267.2k |
| Sessa Capital IM, L.P. 5.11% of their portfolio | 1.3m $124.1m | Unchanged |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 1.3m $119.8m | Added +18.1k |
| PICTET ASSET MANAGEMENT SA 0.15% of their portfolio | 1.3m $119.8m | Added +95.1k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 1.2m $111.4m | Added +471.5k |
| FMR LLC 0.01% of their portfolio | 1.2m $111.3m | Reduced -755.3k |
| NORGES BANK 0.02% of their portfolio | 1.2m $106.8m | Added +121.6k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 1.01% of their portfolio | 1.1m $96.9m | Reduced -249.3k |
| Swiss National Bank 0.06% of their portfolio | 1.0m $93.1m | Reduced -24.3k |
| TORONTO DOMINION BANK 0.15% of their portfolio | 977.1k $89.8m | Reduced -154.8k |
| FIRST TRUST ADVISORS LP 0.10% of their portfolio | 919.7k $84.6m | Reduced -69.7k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 862.1k $79.3m | Added +21.7k |
| Sumitomo Mitsui Trust Group, Inc. 0.06% of their portfolio | 847.6k $77.9m | Added +127.1k |
| Ensign Peak Advisors, Inc 0.17% of their portfolio | 837.9k $77.0m | Reduced -135.9k |
| VIKING GLOBAL INVESTORS LP 0.35% of their portfolio | 812.7k $74.7m | Added +373.3k |
| Swedbank AB 0.14% of their portfolio | 794.9k $73.1m | Added +1.5k |
| Hudson Bay Capital Management LP 0.42% of their portfolio | 780.0k $71.7m | New |
| PARNASSUS INVESTMENTS, LLC 0.18% of their portfolio | 772.4k $71.0m | Added +289.5k |
| Douglas Lane & Associates, LLC 1.18% of their portfolio | 771.9k $71.0m | Added +57.9k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 770.6k $70.9m | Added +179.1k |
| SHAPIRO CAPITAL MANAGEMENT LLC 1.74% of their portfolio | 739.3k $68.0m | Reduced -4.8k |
| HAWK RIDGE CAPITAL MANAGEMENT LP 3.82% of their portfolio | 731.9k $67.3m | Reduced -12.2k |
| ICAHN CARL C 0.27% of their portfolio | 644.5k $59.3m | Unchanged |
| STRS OHIO 0.08% of their portfolio | 600.0k $55.2m | Added +386.3k |
| HSBC HOLDINGS PLC 0.07% of their portfolio | 583.0k $53.4m | Reduced -222.1k |
| Schonfeld Strategic Advisors LLC 0.50% of their portfolio | 560.3k $51.5m | Added +469.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 558.0k $51.3m | Added +44.0k |
| Saratoga Research & Investment Management 2.26% of their portfolio | 516.4k $47.5m | Added +479 |
| CREDIT SUISSE AG/ 0.05% of their portfolio | 509.5k $46.9m | Reduced -422 |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 484.9k $44.6m | Added +130.0k |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 484.1k $44.5m | Added +7.7k |
| California Public Employees Retirement System 0.04% of their portfolio | 480.6k $44.2m | Reduced -79.2k |
| Ceredex Value Advisors LLC 0.69% of their portfolio | 480.6k $44.6m | Reduced -461.5k |
| Robeco Schweiz AG 0.68% of their portfolio | 460.2k $42.3m | Reduced -222.0k |
| CADEN CAPITAL PARTNERS, LP 16.82% of their portfolio | 447.1k $41.1m | Added +123.8k |
| APG Asset Management N.V. 0.08% of their portfolio | 445.7k $37.7m | Added +50.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 435.0k $40.0m | Reduced -4.0k |
| UNITED CAPITAL FINANCIAL ADVISORS, LLC 0.21% of their portfolio | 403.9k $37.1m | Added +25.5k |
| DNB Asset Management AS 0.23% of their portfolio | 390.7k $35.9m | Added +45.8k |
| MILLENNIUM MANAGEMENT LLC 0.04% of their portfolio | 390.4k $35.9m | Reduced -1.0m |
| Korea Investment CORP 0.10% of their portfolio | 387.6k $35.6m | Added +255.0k |
| GREAT LAKES ADVISORS, LLC 0.31% of their portfolio | 367.6k $33.8m | Added +140.6k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.13% of their portfolio | 362.3k $33.3m | Reduced -2.7m |
| DEPRINCE RACE & ZOLLO INC 0.77% of their portfolio | 361.2k $33.2m | Added +64.2k |
| Alyeska Investment Group, L.P. 0.29% of their portfolio | 361.1k $33.2m | Added +84.8k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.05% of their portfolio | 347.8k $32.0m | Unchanged |
| EMINENCE CAPITAL, LP 0.52% of their portfolio | 333.3k $30.7m | New |
| BARCLAYS PLC 0.03% of their portfolio | 327.9k $30.1m | Reduced -177.8k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 320.9k $29.5m | Reduced -34.9k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.10% of their portfolio | 320.4k $29.5m | Added +33.8k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.04% of their portfolio | 317.2k $29.2m | Reduced -15.4k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 313.6k $28.8m | Added +6.2k |
| National Pension Service 0.05% of their portfolio | 305.0k $27.6m | Unchanged |
| FJARDE AP-FONDEN /FOURTH SWEDISH NATIONAL PENSION FUND 0.38% of their portfolio | 304.7k $28.0m | Added +30.4k |
| ANCHOR CAPITAL ADVISORS LLC 0.74% of their portfolio | 302.6k $27.8m | Added +299.8k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.08% of their portfolio | 295.0k $27.1m | Added +73.3k |
| Regal Partners Ltd 5.19% of their portfolio | 289.6k $26.6m | New |
| Point72 Asset Management, L.P. 0.09% of their portfolio | 289.4k $26.6m | New |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.04% of their portfolio | 286.8k $26.4m | Added +29.1k |
| PRUDENTIAL FINANCIAL INC 0.04% of their portfolio | 285.7k $26.3m | Added +21.3k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio | 284.4k $26.2m | Added +1.1k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 274.8k $25.3m | Added +45.6k |
| ZWJ INVESTMENT COUNSEL INC 1.37% of their portfolio | 269.5k $24.8m | Added +73.4k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.06% of their portfolio | 260.3k $23.9m | Reduced -3.3k |
| SASCO CAPITAL INC / CT/ 2.94% of their portfolio | 259.8k $23.9m | Added +180.2k |
| Corient Private Wealth LP 0.06% of their portfolio | 259.1k $23.8m | Added +36.0k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.05% of their portfolio | 255.3k $23.5m | Reduced -4.0k |
| OSTERWEIS CAPITAL MANAGEMENT INC 1.59% of their portfolio | 254.4k $23.4m | Added +152.2k |
| BROWN BROTHERS HARRIMAN & CO 0.19% of their portfolio | 250.1k $23.0m | Added +4 |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.11% of their portfolio | 234.8k $21.6m | Added +29.8k |