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 ($9.1m this quarter). Holder counts are more reliable. Shares outstanding: 255.7m as of 2024-10-29, 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 ≈ $84.55. Options: 20 managers hold calls ($212.8m notional), 16 hold puts ($68.3m).
Trends to Q4 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 |
| Q2 2024 | 772 |
| Q3 2024 | 788 |
| Q4 2024 | 760 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 386 | 322 |
| Q2 2023 | 371 | 352 |
| Q3 2023 | 365 | 360 |
| Q4 2023 | 318 | 392 |
| Q1 2024 | 330 | 386 |
| Q2 2024 | 335 | 354 |
| Q3 2024 | 367 | 343 |
| Q4 2024 | 282 | 430 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $226.2m | $142.8m | 0.63 |
| Q2 2024 | $149.5m | $90.4m | 0.60 |
| Q3 2024 | $322.7m | $87.8m | 0.27 |
| Q4 2024 | $212.8m | $68.3m | 0.32 |
Biggest buyers
| Freemont Capital Pte Ltd | New | +25.4m |
| Dodge & Cox | Added | +3.4m |
| VAN ECK ASSOCIATES CORP | Added | +1.7m |
| NORGES BANK | Added | +1.3m |
| NORDEA INVESTMENT MANAGEMENT AB | Added | +1.1m |
| NORTHERN TRUST CORP | Added | +565.8k |
| Invesco Ltd. | Added | +433.0k |
| MORGAN STANLEY | Added | +431.4k |
| BARCLAYS PLC | Added | +425.1k |
| Alyeska Investment Group, L.P. | Added | +368.8k |
Biggest sellers
| Winder Pte. Ltd. | Sold out | -25.4m |
| JPMORGAN CHASE & CO | Reduced | -1.5m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | -694.3k |
| Albar Capital Ltd | Sold out | -589.7k |
| Balyasny Asset Management L.P. | Sold out | -549.0k |
| Phoenix Financial Ltd. | Reduced | -503.1k |
| BANK OF AMERICA CORP /DE/ | Reduced | -496.3k |
| Varenne Capital Partners | Reduced | -373.3k |
| ExodusPoint Capital Management, LP | Reduced | -291.4k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -262.9k |
Biggest calls
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | $54.0m639.0k shares |
| BARCLAYS PLC | Unchanged | $53.2m629.1k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $37.0m437.7k shares |
| CITADEL ADVISORS LLC | Reduced | $14.1m167.2k shares |
| WOLVERINE TRADING, LLC | Reduced | $12.1m144.0k shares |
| SIMPLEX TRADING, LLC | Added | $10.3m121.6k shares |
| JANE STREET GROUP, LLC | Added | $8.8m104.2k shares |
| IMC-Chicago, LLC | Reduced | $5.4m64.3k shares |
| Walleye Trading LLC | Added | $4.6m54.3k shares |
| Cubist Systematic Strategies, LLC | New | $4.2m50.2k shares |
Biggest puts
| CITADEL ADVISORS LLC | Reduced | $24.3m287.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $15.3m180.4k shares |
| Walleye Trading LLC | Added | $11.8m139.1k shares |
| SIMPLEX TRADING, LLC | Reduced | $4.7m55.2k shares |
| WOLVERINE TRADING, LLC | Added | $3.3m39.0k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $2.0m24.0k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Added | $1.9m22.6k shares |
| Cubist Systematic Strategies, LLC | New | $1.7m20.6k shares |
| IMC-Chicago, LLC | Reduced | $1.7m19.6k shares |
| PEAK6 LLC | First filing | $617.2k7.3k 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 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 |
|---|---|---|---|---|---|
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 1 | $170.3k | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 1 | $247.6k | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 1 | $458.8k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-11-11 | Arora Yuvraj President, Nourish | Sold | $458.8k5.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| Dodge & Cox 1.55% of their portfolio | 31.4m $2.7bn | Added +3.4m |
| VANGUARD GROUP INC 0.04% of their portfolio | 30.2m $2.6bn | Added +164.9k |
| Freemont Capital Pte Ltd 45.35% of their portfolio | 25.4m $2.1bn | New |
| BlackRock, Inc. 0.04% of their portfolio | 22.1m $1.9bn | Added +340.3k |
| STATE STREET CORP 0.04% of their portfolio | 10.5m $888.4m | Reduced -9.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.04% of their portfolio | 6.2m $520.0m | Added +157.9k |
| VAN ECK ASSOCIATES CORP 0.61% of their portfolio | 5.7m $478.9m | Added +1.7m |
| NORDEA INVESTMENT MANAGEMENT AB 0.49% of their portfolio | 5.5m $464.9m | Added +1.1m |
| NORGES BANK 0.06% of their portfolio | 5.4m $452.4m | Added +1.3m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.12% of their portfolio | 4.5m $380.6m | Reduced -151.8k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.39% of their portfolio | 4.3m $364.5m | Reduced -694.3k |
| First Pacific Advisors, LP 4.87% of their portfolio | 4.0m $340.7m | Added +23.0k |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO 0.29% of their portfolio | 3.8m $323.1m | Unchanged |
| ICAHN CARL C 4.28% of their portfolio | 3.8m $317.1m | Unchanged |
| NORTHERN TRUST CORP 0.04% of their portfolio | 3.4m $288.1m | Added +565.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.06% of their portfolio | 3.1m $264.8m | Reduced -119.4k |
| MORGAN STANLEY 0.02% of their portfolio | 2.8m $235.1m | Added +431.4k |
| MILLENNIUM MANAGEMENT LLC 0.20% of their portfolio | 2.7m $226.5m | Reduced -262.9k |
| Invesco Ltd. 0.04% of their portfolio | 2.6m $219.4m | Added +433.0k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 1.9m $164.6m | Added +173.2k |
| CONTINENTAL GRAIN CO 55.77% of their portfolio | 1.9m $163.1m | Added +239.5k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 1.9m $158.9m | Added +17.4k |
| Legal & General Group Plc 0.04% of their portfolio | 1.6m $132.6m | Reduced -7.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 1.5m $130.7m | Added +46.9k |
| UBS Group AG 0.03% of their portfolio | 1.5m $130.1m | Added +271.9k |
| Pictet Asset Management Holding SA 0.13% of their portfolio | 1.5m $124.7m | Reduced -28.8k |
| BARCLAYS PLC 0.06% of their portfolio | 1.5m $123.1m | Added +425.1k |
| FORT WASHINGTON INVESTMENT ADVISORS INC /OH/ 0.69% of their portfolio | 1.4m $115.5m | Added +3.4k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 1.3m $109.1m | Reduced -2.0k |
| GOLDMAN SACHS GROUP INC 0.02% of their portfolio | 1.3m $108.8m | Added +27.3k |
| CITADEL ADVISORS LLC 0.08% of their portfolio | 1.1m $91.3m | Reduced -118.7k |
| DEUTSCHE BANK AG\ 0.03% of their portfolio | 984.6k $83.2m | Added +209.6k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 964.1k $81.5m | Reduced -1.5m |
| Robeco Institutional Asset Management B.V. 0.15% of their portfolio | 926.9k $78.4m | Added +218.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 918.5k $77.7m | Reduced -496.3k |
| Douglas Lane & Associates, LLC 1.03% of their portfolio | 862.1k $72.9m | Reduced -51.2k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 765.7k $64.7m | Reduced -91.7k |
| Capital Research Global Investors 0.01% of their portfolio | 753.8k $63.7m | Unchanged |
| Swiss National Bank 0.04% of their portfolio | 722.3k $61.1m | Reduced -35.6k |
| FIL Ltd 0.05% of their portfolio | 653.6k $55.3m | Added +331.0k |
| DNB Asset Management AS 0.23% of their portfolio | 635.6k $53.7m | Added +266.4k |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 595.3k $50.3m | Reduced -19.7k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 576.1k $48.7m | Added +55.1k |
| Alyeska Investment Group, L.P. 0.18% of their portfolio | 568.2k $48.0m | Added +368.8k |
| STALEY CAPITAL ADVISERS INC 2.01% of their portfolio | 535.3k $45.3m | Added +41.6k |
| CADEN CAPITAL PARTNERS, LP 13.76% of their portfolio | 533.5k $45.1m | Added +155.5k |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 528.1k $44.7m | Added +163.5k |
| HSBC HOLDINGS PLC 0.03% of their portfolio | 527.1k $44.5m | Added +81.9k |
| Saraza Management, LP 12.14% of their portfolio | 515.0k $43.5m | Unchanged |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 510.4k $42.1m | Added +7.2k |
| Amundi 0.01% of their portfolio | 491.0k $40.3m | Reduced -170.6k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 478.7k $40.5m | Reduced -1.4k |
| RENAISSANCE TECHNOLOGIES LLC 0.06% of their portfolio | 478.6k $40.5m | Reduced -28.1k |
| DEPRINCE RACE & ZOLLO INC 0.78% of their portfolio | 464.7k $39.3m | Added +156.9k |
| Point72 Asset Management, L.P. 0.10% of their portfolio | 446.2k $37.7m | Added +148.0k |
| Albar Capital Partners LLP 8.97% of their portfolio | 441.5k $37.3m | First filing |
| California Public Employees Retirement System 0.02% of their portfolio | 433.1k $36.6m | Reduced -20.3k |
| Ilex Capital Partners (UK) LLP 2.34% of their portfolio | 431.9k $36.5m | Reduced -111.2k |
| Ensign Peak Advisors, Inc 0.06% of their portfolio | 418.4k $35.4m | Added +17.0k |
| FMR LLC 0.00% of their portfolio | 413.7k $35.0m | Reduced -89.2k |
| Bank Pictet & Cie (Europe) AG 0.74% of their portfolio | 398.4k $33.7m | Unchanged |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 389.8k $33.0m | Added +178.7k |
| Squarepoint Ops LLC 0.08% of their portfolio | 383.0k $32.4m | Added +368.4k |
| Phoenix Financial Ltd. 0.43% of their portfolio | 369.4k $31.3m | Reduced -503.1k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 361.1k $30.5m | Added +69.0k |
| EUBEL BRADY & SUTTMAN ASSET MANAGEMENT INC 3.98% of their portfolio | 357.3k $30.2m | Added +45.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 351.9k $29.8m | Reduced -85.8k |
| National Pension Service 0.03% of their portfolio | 345.6k $29.2m | Reduced -26.2k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 316.3k $26.7m | Reduced -54.9k |
| Aberdeen Group plc 0.05% of their portfolio | 310.3k $26.2m | Reduced -13.0k |
| PRUDENTIAL FINANCIAL INC 0.04% of their portfolio | 307.6k $26.0m | Reduced -90.6k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.07% of their portfolio | 296.9k $25.1m | Added +150.9k |
| GREAT LAKES ADVISORS, LLC 0.21% of their portfolio | 294.7k $24.9m | Reduced -53.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 289.0k $24.4m | Reduced -181.6k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.04% of their portfolio | 288.9k $24.4m | Added +47.9k |
| CLEARFIELD CAPITAL MANAGEMENT LP 12.70% of their portfolio | 267.4k $22.6m | Unchanged |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.04% of their portfolio | 262.1k $22.2m | Reduced -6.8k |
| BROWN BROTHERS HARRIMAN & CO 0.15% of their portfolio | 253.9k $21.5m | Unchanged |
| ZWJ INVESTMENT COUNSEL INC 0.85% of their portfolio | 244.7k $20.7m | Reduced -15.1k |
| Korea Investment CORP 0.05% of their portfolio | 234.0k $19.8m | Reduced -152.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 229.3k $19.4m | Reduced -2.2k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 221.9k $18.8m | Reduced -810 |
| Corient Private Wealth LP 0.03% of their portfolio | 220.7k $18.7m | Reduced -53.4k |
| CITIGROUP INC 0.02% of their portfolio | 204.4k $17.3m | Reduced -3.1k |
| CANADA LIFE ASSURANCE Co 0.03% of their portfolio | 204.3k $17.3m | Reduced -20.5k |
| Smith Group Asset Management, LLC 1.26% of their portfolio | 201.8k $17.1m | Reduced -11.7k |
| TRILLIUM ASSET MANAGEMENT, LLC 0.44% of their portfolio | 201.0k $17.0m | Reduced -14.7k |
| CLIFFORD SWAN INVESTMENT COUNSEL LLC 0.61% of their portfolio | 200.7k $17.0m | Reduced -10.0k |
| Redwood Grove Capital, LLC 5.20% of their portfolio | 198.7k $16.8m | Unchanged |
| PINEBRIDGE INVESTMENTS, L.P. 0.13% of their portfolio | 198.6k $16.8m | Added +139.1k |
| OFI INVEST ASSET MANAGEMENT 0.38% of their portfolio | 196.4k $16.0m | First filing |
| WILKINS INVESTMENT COUNSEL INC 2.39% of their portfolio | 195.3k $16.5m | Added +434 |
| NATIXIS ADVISORS, LLC 0.03% of their portfolio | 181.3k $15.3m | Added +12.1k |
| Swedbank AB 0.02% of their portfolio | 178.1k $15.1m | Added +2.7k |
| Mitsubishi UFJ Trust & Banking Corp 0.04% of their portfolio | 177.9k $15.0m | Reduced -2.7k |
| APG Asset Management N.V. 0.04% of their portfolio | 177.4k $14.5m | Added +130.6k |
| Qube Research & Technologies Ltd 0.02% of their portfolio | 177.3k $15.0m | Reduced -107.0k |
| Connor, Clark & Lunn Investment Management Ltd. 0.07% of their portfolio | 176.2k $14.9m | Added +72.0k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 174.7k $14.8m | Added +9.9k |
| Man Group plc 0.04% of their portfolio | 172.8k $14.6m | Reduced -5.6k |