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 ($127.3m this quarter). Holder counts are more reliable. Shares outstanding: 255.4m as of 2024-04-29, 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 ≈ $84.23. Options: 26 managers hold calls ($226.2m notional), 23 hold puts ($142.8m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 732 |
| Q4 2022 | 768 |
| Q1 2023 | 759 |
| Q2 2023 | 764 |
| Q3 2023 | 743 |
| Q4 2023 | 767 |
| Q1 2024 | 742 |
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 |
| Q2 2023 | 371 | 352 |
| Q3 2023 | 365 | 360 |
| Q4 2023 | 318 | 392 |
| Q1 2024 | 330 | 386 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $139.1m | $101.2m | 0.73 |
| Q3 2023 | $148.2m | $146.8m | 0.99 |
| Q4 2023 | $112.2m | $132.3m | 1.18 |
| Q1 2024 | $226.2m | $142.8m | 0.63 |
Biggest buyers
| Dodge & Cox | Added | +12.3m |
| MORGAN STANLEY | Added | +3.3m |
| ICAHN CARL C | Added | +3.1m |
| NORGES BANK | Added | +1.2m |
| BANK OF AMERICA CORP /DE/ | Added | +1.0m |
| Point72 Asset Management, L.P. | New | +868.3k |
| CITADEL ADVISORS LLC | Added | +674.2k |
| Albar Capital Ltd | New | +660.8k |
| Ilex Capital Partners (UK) LLP | Added | +656.8k |
| JANE STREET GROUP, LLC | Added | +577.4k |
Biggest sellers
| STATE STREET CORP | Reduced | -5.4m |
| Capital International Investors | Sold out | -2.4m |
| VANGUARD GROUP INC | Reduced | -1.9m |
| Sachem Head Capital Management LP | Reduced | -1.5m |
| Capital Research Global Investors | Reduced | -1.5m |
| NOMURA HOLDINGS INC | Reduced | -1.4m |
| VIKING GLOBAL INVESTORS LP | Sold out | -953.4k |
| NORDEA INVESTMENT MANAGEMENT AB | Reduced | -945.8k |
| Sessa Capital IM, L.P. | Sold out | -900.0k |
| Third Point LLC | Reduced | -660.0k |
Biggest calls
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | New | $55.0m640.5k shares |
| JPMORGAN CHASE & CO | New | $38.7m450.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $28.5m331.7k shares |
| Twin Tree Management, LP | Reduced | $26.5m308.2k shares |
| CITADEL ADVISORS LLC | Added | $25.3m294.3k shares |
| Saraza Management, LP | New | $10.7m125.0k shares |
| Walleye Trading LLC | Added | $8.0m93.6k shares |
| SIMPLEX TRADING, LLC | Added | $8.0m93.2k shares |
| JANE STREET GROUP, LLC | New | $6.4m74.9k shares |
| WOLVERINE TRADING, LLC | Added | $5.1m59.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $31.8m369.6k shares |
| Walleye Trading LLC | Added | $28.6m332.1k shares |
| CITADEL ADVISORS LLC | Reduced | $20.9m243.2k shares |
| Twin Tree Management, LP | New | $16.4m190.3k shares |
| SIMPLEX TRADING, LLC | Added | $12.7m147.5k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $9.0m104.6k shares |
| WOLVERINE TRADING, LLC | Added | $3.7m42.9k shares |
| GTS SECURITIES LLC | Reduced | $3.0m34.7k shares |
| JANE STREET GROUP, LLC | New | $2.6m30.3k shares |
| DYMON ASIA CAPITAL (SINGAPORE) PTE. LTD. | New | $2.6m30.2k 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 2024
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 2022 | 0 | — | 1 | $160.1k | — |
| Q3 2022 | 0 | — | 1 | $1.2m | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 1 | $170.3k | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
None reported in Q1 2024.
Holders, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.05% of their portfolio | 29.7m $2.6bn | Reduced -1.9m |
| Dodge & Cox 1.38% of their portfolio | 27.7m $2.4bn | Added +12.3m |
| Winder Pte. Ltd. 37.67% of their portfolio | 25.4m $1.8bn | Unchanged |
| BlackRock Inc. 0.04% of their portfolio | 22.3m $1.9bn | Reduced -161.2k |
| STATE STREET CORP 0.04% of their portfolio | 10.3m $888.7m | Reduced -5.4m |
| MORGAN STANLEY 0.02% of their portfolio | 8.4m $720.8m | Added +3.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio | 5.8m $498.2m | Added +191.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.15% of their portfolio | 5.7m $487.0m | Reduced -125.0k |
| VAN ECK ASSOCIATES CORP 0.62% of their portfolio | 4.8m $410.9m | Added +344.4k |
| NORDEA INVESTMENT MANAGEMENT AB 0.43% of their portfolio | 4.3m $366.0m | Reduced -945.8k |
| First Pacific Advisors, LP 4.74% of their portfolio | 3.9m $338.0m | Reduced -49.6k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.30% of their portfolio | 3.8m $328.6m | Unchanged |
| ICAHN CARL C 2.71% of their portfolio | 3.8m $322.5m | Added +3.1m |
| Sachem Head Capital Management LP 13.09% of their portfolio | 3.3m $282.9m | Reduced -1.5m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.10% of their portfolio | 3.2m $274.5m | Added +314.5k |
| NORTHERN TRUST CORP 0.04% of their portfolio | 2.9m $250.9m | Reduced -83.8k |
| Invesco Ltd. 0.05% of their portfolio | 2.5m $214.0m | Added +149.1k |
| Capital Research Global Investors 0.04% of their portfolio | 2.2m $192.6m | Reduced -1.5m |
| NORGES BANK 0.03% of their portfolio | 2.2m $186.1m | Added +1.2m |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.1m $179.0m | Reduced -232.7k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 1.9m $166.3m | Reduced -65.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 1.9m $163.0m | Added +162.2k |
| Pictet Asset Management Holding SA 0.16% of their portfolio | 1.7m $149.6m | Reduced -127.6k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 1.7m $146.6m | Added +339.8k |
| MILLENNIUM MANAGEMENT LLC 0.12% of their portfolio | 1.7m $141.9m | Added +231.6k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 1.6m $140.4m | Added +250.3k |
| Legal & General Group Plc 0.04% of their portfolio | 1.6m $138.7m | Reduced -3.1k |
| CONTINENTAL GRAIN CO 84.73% of their portfolio | 1.5m $130.8m | Added +312.1k |
| Impax Asset Management Group plc 0.48% of their portfolio | 1.5m $126.2m | Reduced -127.7k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.81% of their portfolio | 1.5m $125.1m | Reduced -520 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 1.5m $124.8m | Added +36.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.4m $122.4m | Added +1.0m |
| Third Point LLC 1.54% of their portfolio | 1.4m $120.4m | Reduced -660.0k |
| Saraza Management, LP 26.05% of their portfolio | 1.2m $100.4m | Reduced -377.5k |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 1.1m $93.9m | Added +674.2k |
| Nuveen Asset Management, LLC 0.03% of their portfolio | 1.0m $86.8m | Reduced -69.2k |
| UBS Group AG 0.03% of their portfolio | 966.9k $83.1m | Added +75.2k |
| Douglas Lane & Associates, LLC 1.16% of their portfolio | 957.8k $82.4m | Added +65.9k |
| Amundi 0.03% of their portfolio | 914.9k $76.5m | Added +41.8k |
| Point72 Asset Management, L.P. 0.22% of their portfolio | 868.3k $74.7m | New |
| CANADA PENSION PLAN INVESTMENT BOARD 0.08% of their portfolio | 862.5k $74.2m | Unchanged |
| Ilex Capital Partners (UK) LLP 7.15% of their portfolio | 847.5k $72.9m | Added +656.8k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 1.73% of their portfolio | 770.7k $66.3m | Reduced -193.5k |
| Swiss National Bank 0.05% of their portfolio | 764.5k $65.7m | Reduced -33.7k |
| BARCLAYS PLC 0.03% of their portfolio | 753.0k $64.7m | Reduced -155.2k |
| JANE STREET GROUP, LLC 0.08% of their portfolio | 681.3k $58.6m | Added +577.4k |
| DEUTSCHE BANK AG\ 0.03% of their portfolio | 671.4k $57.7m | Added +31.2k |
| Albar Capital Ltd 9.65% of their portfolio | 660.8k $56.8m | New |
| Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio | 650.9k $56.0m | Added +49.6k |
| Bank Pictet & Cie (Europe) AG 1.30% of their portfolio | 578.4k $49.7m | Added +164.7k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 564.4k $48.5m | Reduced -138.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.07% of their portfolio | 554.8k $47.7m | Added +546.6k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 550.8k $47.4m | Added +18.5k |
| FIRST TRUST ADVISORS LP 0.05% of their portfolio | 529.6k $45.5m | Added +141.4k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 521.0k $44.8m | Added +124.1k |
| Korea Investment CORP 0.11% of their portfolio | 515.6k $44.3m | Reduced -39.2k |
| STALEY CAPITAL ADVISERS INC 1.97% of their portfolio | 491.9k $42.3m | Added +84.8k |
| APG Asset Management N.V. 0.07% of their portfolio | 487.7k $38.8m | Added +56.1k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 471.9k $40.6m | Reduced -1.7k |
| CADEN CAPITAL PARTNERS, LP 14.22% of their portfolio | 450.5k $38.7m | Added +126.8k |
| Point72 Europe (London) LLP 3.35% of their portfolio | 418.3k $36.0m | New |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.05% of their portfolio | 415.5k $35.7m | Added +56.1k |
| CREDIT SUISSE AG/ 0.03% of their portfolio | 415.2k $35.7m | Reduced -8.8k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 412.3k $35.5m | Added +3.8k |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC 0.12% of their portfolio | 398.4k $34.3m | Added +2.5k |
| DEPRINCE RACE & ZOLLO INC 0.70% of their portfolio | 377.1k $32.4m | Reduced -36.6k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 358.1k $30.8m | Added +99.0k |
| National Pension Service 0.04% of their portfolio | 358.1k $30.8m | Reduced -9.0k |
| California Public Employees Retirement System 0.02% of their portfolio | 353.9k $30.4m | Reduced -12.8k |
| HRT FINANCIAL LP 0.19% of their portfolio | 353.0k $30.4m | New |
| Clarkston Capital Partners, LLC 0.53% of their portfolio | 349.4k $30.0m | Added +1.1k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 343.6k $29.5m | Added +55.8k |
| EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 3.63% of their portfolio | 332.0k $28.5m | Added +761 |
| DNB Asset Management AS 0.15% of their portfolio | 325.4k $28.0m | Reduced -1.1k |
| Ensign Peak Advisors, Inc 0.05% of their portfolio | 323.6k $27.8m | Reduced -124.0k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.03% of their portfolio | 300.6k $25.9m | Added +31.4k |
| Aberdeen Group plc 0.05% of their portfolio | 298.1k $25.6m | Added +13.4k |
| CLEARFIELD CAPITAL MANAGEMENT LP 21.15% of their portfolio | 289.9k $24.9m | Reduced -65.4k |
| ALPS ADVISORS INC 0.18% of their portfolio | 287.6k $24.7m | Added +1.2k |
| Janney Montgomery Scott LLC 0.07% of their portfolio | 282.7k $24.3m | Reduced -44.6k |
| MOORE CAPITAL MANAGEMENT, LP 0.49% of their portfolio | 275.9k $23.7m | New |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 273.8k $23.5m | Added +16.8k |
| SASCO CAPITAL INC / CT/ 3.05% of their portfolio | 265.3k $22.8m | Reduced -3.7k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 263.7k $22.7m | Added +50.4k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 261.6k $22.5m | Reduced -407.4k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.06% of their portfolio | 260.3k $23.9m | Reduced -15.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.03% of their portfolio | 257.7k $22.2m | Reduced -93.8k |
| CANADA LIFE ASSURANCE Co 0.04% of their portfolio | 255.8k $22.0m | Added +22.4k |
| BROWN BROTHERS HARRIMAN & CO 0.17% of their portfolio | 253.8k $21.8m | Unchanged |
| Corient Private Wealth LP 0.04% of their portfolio | 253.0k $21.8m | Added +24.5k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.04% of their portfolio | 250.4k $21.5m | Added +2.4k |
| GREAT LAKES ADVISORS, LLC 0.18% of their portfolio | 246.0k $21.1m | Added +28.6k |
| Schonfeld Strategic Advisors LLC 0.16% of their portfolio | 238.2k $20.5m | Added +91.7k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 237.2k $20.4m | Added +5.4k |
| EXENCIAL WEALTH ADVISORS, LLC 0.76% of their portfolio | 235.7k $20.3m | Added +1.2k |
| ZWJ INVESTMENT COUNSEL INC 0.92% of their portfolio | 234.4k $20.2m | Added +57.9k |
| FMR LLC 0.00% of their portfolio | 232.3k $20.0m | Added +1.7k |
| Swedbank AB 0.03% of their portfolio | 231.9k $19.9m | Reduced -453.2k |
| Northwest & Ethical Investments L.P. 0.54% of their portfolio | 216.0k $18.6m | Reduced -2.2k |
| CLIFFORD SWAN INVESTMENT COUNSEL LLC 0.69% of their portfolio | 216.0k $18.6m | Added +248 |