LINDE PLC LIN
SHS · Common Stock · CUSIP G54950103
Multinational industrial gases and engineering company founded in Germany in 1879
* 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 ($1.3bn this quarter). Holder counts are more reliable. Shares outstanding: 487.9m as of 2023-06-30, 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 ≈ $380.57. Options: 36 managers hold calls ($649.3m notional), 37 hold puts ($544.9m).
Trends to Q2 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 7 |
| Q4 2022 | 13 |
| Q1 2023 | 1,444 |
| Q2 2023 | 1,572 |
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 | 7 | 2 |
| Q1 2023 | 1,396 | 4 |
| Q2 2023 | 752 | 636 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2022 | $0 | $543.4k | — |
| Q4 2022 | $733.9k | $0 | 0.00 |
| Q1 2023 | $612.7m | $868.4m | 1.42 |
| Q2 2023 | $649.3m | $544.9m | 0.84 |
Biggest buyers
| AKO CAPITAL LLP | New | +1.2m |
| MORGAN STANLEY | Added | +1.0m |
| Perpetual Ltd | Added | +1.0m |
| Alphinity Investment Management Pty Ltd | New | +674.6k |
| BARCLAYS PLC | Added | +671.7k |
| Amundi | Added | +520.0k |
| CITIGROUP INC | Added | +483.5k |
| Nuveen Asset Management, LLC | Added | +479.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. | New | +433.4k |
| GOLDMAN SACHS GROUP INC | Added | +310.2k |
Biggest sellers
| FMR LLC | Reduced | -12.6m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.0m |
| CITADEL ADVISORS LLC | Reduced | -738.8k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | -649.5k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -647.2k |
| J.P. Morgan Private Wealth Advisors LLC | Sold out | -624.0k |
| BANK OF AMERICA CORP /DE/ | Reduced | -613.9k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO | Sold out | -577.5k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -495.6k |
| STRS OHIO | Reduced | -426.2k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $161.7m424.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $96.7m253.7k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $45.5m119.5k shares |
| SIMPLEX TRADING, LLC | Added | $38.2m100.3k shares |
| NOMURA HOLDINGS INC | Added | $31.9m83.8k shares |
| WOLVERINE ASSET MANAGEMENT LLC | Added | $27.4m72.0k shares |
| GOLDMAN SACHS GROUP INC | Added | $24.7m64.7k shares |
| JANE STREET GROUP, LLC | Reduced | $23.5m61.7k shares |
| Walleye Trading LLC | Reduced | $22.8m59.8k shares |
| Optiver Holding B.V. | Reduced | $16.3m42.8k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $105.1m275.8k shares |
| CITADEL ADVISORS LLC | Reduced | $95.2m249.9k shares |
| CITIGROUP INC | Added | $43.8m115.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $36.9m96.7k shares |
| Optiver Holding B.V. | Reduced | $36.1m94.6k shares |
| GOLDMAN SACHS GROUP INC | Added | $35.6m93.5k shares |
| Walleye Capital LLC | Added | $26.3m68.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $21.2m55.7k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Added | $18.3m48.1k shares |
| Walleye Trading LLC | Reduced | $16.1m42.3k 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 |
|---|---|
| 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 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 |
|---|---|---|---|---|---|
| Q3 2021 | 0 | — | 0 | — | — |
| Q4 2021 | 0 | — | 1 | $1.6m | — |
| Q1 2022 | 2 | $1.1m | 0 | — | — |
| Q2 2022 | 0 | — | 1 | $57.9k | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 3 | $26.2m | — |
| Q1 2023 | 0 | — | 1 | $1.5m | — |
| Q2 2023 | 0 | — | 4 | $23.9m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2023-06-14 | Durbin Sean Executive VP, EMEA | Sold | $734.2k2.0k shares |
| 2023-05-15 | Strauss David P Executive VP, Chief HR Officer | Sold | $814.0k2.2k shares |
| 2023-05-01 | ANGEL STEPHEN F Director | Sold | $16.9m45.3k shares |
| 2023-05-01 | Bichara Guillermo Exec VP& Chief Legal Officer | Sold | $5.4m14.6k 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, Q2 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.40% of their portfolio | 44.0m $16.8bn | Reduced -227.6k |
| BlackRock Inc. 0.36% of their portfolio | 34.4m $13.1bn | Added +147.4k |
| STATE STREET CORP 0.40% of their portfolio | 20.1m $7.7bn | Added +134.6k |
| FMR LLC 0.43% of their portfolio | 13.6m $5.2bn | Reduced -12.6m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 1.52% of their portfolio | 12.1m $4.6bn | Added +231.1k |
| Capital Research Global Investors 1.23% of their portfolio | 12.0m $4.6bn | Reduced -48.3k |
| Capital World Investors 0.87% of their portfolio | 11.9m $4.5bn | Added +91.1k |
| Capital International Investors 1.03% of their portfolio | 11.2m $4.3bn | Reduced -170.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.43% of their portfolio | 9.6m $3.6bn | Added +233.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.48% of their portfolio | 9.1m $3.5bn | Added +8.0k |
| Bank of New York Mellon Corp 0.62% of their portfolio | 7.7m $2.9bn | Reduced -246.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.54% of their portfolio | 7.4m $2.8bn | Reduced -495.6k |
| NORGES BANK 0.55% of their portfolio | 7.4m $2.8bn | Reduced -70.9k |
| MORGAN STANLEY 0.25% of their portfolio | 6.7m $2.5bn | Added +1.0m |
| Nuveen Asset Management, LLC 0.86% of their portfolio | 6.5m $2.5bn | Added +479.2k |
| JPMORGAN CHASE & CO 0.26% of their portfolio | 5.9m $2.2bn | Added +36.0k |
| Winder Investment Pte Ltd 43.99% of their portfolio | 5.1m $1.9bn | Unchanged |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.86% of their portfolio | 5.0m $1.8bn | Unchanged |
| NORTHERN TRUST CORP 0.36% of their portfolio | 5.0m $1.9bn | Reduced -135.1k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 2.79% of their portfolio | 4.7m $1.8bn | Reduced -649.5k |
| FRANKLIN RESOURCES INC 0.79% of their portfolio | 4.4m $1.7bn | Added +23.5k |
| WELLS FARGO & COMPANY/MN 0.43% of their portfolio | 3.9m $1.5bn | Added +36.4k |
| WCM INVESTMENT MANAGEMENT, LLC 4.26% of their portfolio | 3.7m $1.4bn | Reduced -3.2k |
| GOLDMAN SACHS GROUP INC 0.35% of their portfolio | 3.6m $1.4bn | Added +310.2k |
| AMERIPRISE FINANCIAL INC 0.42% of their portfolio | 3.5m $1.3bn | Reduced -132.1k |
| Artisan Partners Limited Partnership 2.02% of their portfolio | 3.3m $1.3bn | Added +178.7k |
| Impax Asset Management Group plc 4.60% of their portfolio | 3.0m $1.1bn | Reduced -70.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 1.67% of their portfolio | 2.9m $1.1bn | Added +74.9k |
| PARNASSUS INVESTMENTS, LLC 2.53% of their portfolio | 2.9m $1.1bn | Added +26.0k |
| Legal & General Group Plc 0.35% of their portfolio | 2.8m $1.1bn | Added +166.0k |
| BANK OF AMERICA CORP /DE/ 0.12% of their portfolio | 2.8m $1.1bn | Reduced -613.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.30% of their portfolio | 2.8m $1.1bn | Added +3.3k |
| DEUTSCHE BANK AG\ 0.55% of their portfolio | 2.7m $1.0bn | Added +20.0k |
| UBS Group AG 0.38% of their portfolio | 2.3m $863.2m | Reduced -35.5k |
| Amundi 0.43% of their portfolio | 2.3m $855.3m | Added +520.0k |
| DIMENSIONAL FUND ADVISORS LP 0.27% of their portfolio | 2.2m $856.3m | Added +4.9k |
| NORDEA INVESTMENT MANAGEMENT AB 1.15% of their portfolio | 2.2m $841.5m | Reduced -210.8k |
| CIBC Private Wealth Group LLC 0.91% of their portfolio | 2.2m $834.2m | Added +13.1k |
| Clearbridge Investments, LLC 0.73% of their portfolio | 2.1m $813.7m | Reduced -165.0k |
| ROYAL BANK OF CANADA 0.22% of their portfolio | 2.1m $793.1m | Added +20.6k |
| COMGEST GLOBAL INVESTORS S.A.S. 13.09% of their portfolio | 2.1m $782.6m | Added +32.9k |
| T. Rowe Price Investment Management, Inc. 0.49% of their portfolio | 1.9m $726.5m | Reduced -225.4k |
| Invesco Ltd. 0.19% of their portfolio | 1.9m $725.4m | Added +69.5k |
| JANUS HENDERSON GROUP PLC 0.45% of their portfolio | 1.9m $724.4m | Added +3.4k |
| ALLIANCEBERNSTEIN L.P. 0.29% of their portfolio | 1.9m $708.8m | Reduced -143.7k |
| Swiss National Bank 0.46% of their portfolio | 1.8m $674.9m | Reduced -202.7k |
| BARCLAYS PLC 0.42% of their portfolio | 1.7m $652.6m | Added +671.7k |
| STIFEL FINANCIAL CORP 0.88% of their portfolio | 1.7m $645.0m | Added +15.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.47% of their portfolio | 1.6m $606.0m | Reduced -275.9k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 1.72% of their portfolio | 1.4m $537.2m | Added +55.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.30% of their portfolio | 1.4m $536.8m | Added +147.5k |
| Dodge & Cox 0.34% of their portfolio | 1.4m $516.4m | Unchanged |
| MACKENZIE FINANCIAL CORP 0.78% of their portfolio | 1.4m $511.5m | Added +85.6k |
| Echo Street Capital Management LLC 4.32% of their portfolio | 1.3m $504.5m | Reduced -50.6k |
| BROWN BROTHERS HARRIMAN & CO 3.99% of their portfolio | 1.3m $495.8m | Reduced -33.3k |
| AKO CAPITAL LLP 7.18% of their portfolio | 1.2m $474.7m | New |
| Harding Loevner LP 2.74% of their portfolio | 1.2m $470.1m | Added +252.6k |
| Winslow Capital Management, LLC 2.10% of their portfolio | 1.2m $465.9m | Added +2.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.32% of their portfolio | 1.2m $465.7m | Reduced -75.5k |
| PUBLIC INVESTMENT FUND 1.18% of their portfolio | 1.2m $460.5m | Unchanged |
| C WorldWide Group Holding A/S 5.89% of their portfolio | 1.2m $456.0m | Reduced -47.2k |
| CREDIT SUISSE AG/ 0.44% of their portfolio | 1.2m $439.9m | Reduced -53.1k |
| TD Asset Management Inc 0.49% of their portfolio | 1.1m $430.2m | Reduced -132.2k |
| WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST 5.62% of their portfolio | 1.1m $426.8m | Unchanged |
| Perpetual Ltd 3.52% of their portfolio | 1.1m $410.6m | Added +1.0m |
| CITIGROUP INC 0.53% of their portfolio | 1.1m $409.8m | Added +483.5k |
| PICTET ASSET MANAGEMENT SA 0.45% of their portfolio | 1.0m $383.5m | Added +19.3k |
| Holocene Advisors, LP 1.67% of their portfolio | 1.0m $382.0m | Reduced -226.0k |
| FIL Ltd 0.43% of their portfolio | 997.1k $380.0m | Added +2.5k |
| Swedbank AB 0.64% of their portfolio | 957.0k $364.7m | Added +7.0k |
| Allianz Asset Management GmbH 0.73% of their portfolio | 942.4k $359.1m | Reduced -2.2k |
| RHUMBLINE ADVISERS 0.40% of their portfolio | 932.2k $355.2m | Reduced -587 |
| California Public Employees Retirement System 0.30% of their portfolio | 919.4k $350.4m | Reduced -48.8k |
| AMERICAN CENTURY COMPANIES INC 0.26% of their portfolio | 916.2k $349.1m | Reduced -62.6k |
| DekaBank Deutsche Girozentrale 0.78% of their portfolio | 907.1k $346.5m | Added +63.0k |
| ABN AMRO Bank N.V. 7.02% of their portfolio | 903.8k $345.4m | Reduced -13.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.42% of their portfolio | 863.5k $329.0m | Reduced -24.2k |
| Fiera Capital Corp 0.94% of their portfolio | 855.0k $325.8m | Reduced -68.9k |
| LOOMIS SAYLES & CO L P 0.51% of their portfolio | 834.2k $317.9m | Reduced -76.1k |
| BANK OF MONTREAL /CAN/ 0.11% of their portfolio | 815.6k $294.0m | Reduced -24.5k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.44% of their portfolio | 812.7k $309.7m | Reduced -22.3k |
| Russell Investments Group, Ltd. 0.56% of their portfolio | 767.4k $292.4m | Added +114.7k |
| NEUBERGER BERMAN GROUP LLC 0.26% of their portfolio | 765.1k $291.4m | Added +11.9k |
| SEI INVESTMENTS CO 0.48% of their portfolio | 722.9k $275.5m | Added +39.8k |
| Robeco Institutional Asset Management B.V. 0.72% of their portfolio | 722.2k $275.2m | Added +23.4k |
| Intermede Investment Partners Ltd 6.67% of their portfolio | 710.8k $270.9m | Added +3.7k |
| Alphinity Investment Management Pty Ltd 4.18% of their portfolio | 674.6k $257.1m | New |
| JENNISON ASSOCIATES LLC 0.20% of their portfolio | 648.6k $247.2m | Added +55.5k |
| FIRST MANHATTAN CO. LLC. 0.89% of their portfolio | 646.7k $242.9m | Reduced -615 |
| HSBC HOLDINGS PLC 0.24% of their portfolio | 596.5k $227.4m | Added +201.5k |
| RAYMOND JAMES & ASSOCIATES 0.19% of their portfolio | 592.8k $225.9m | Reduced -13.1k |
| OMERS ADMINISTRATION Corp 3.50% of their portfolio | 591.1k $225.2m | Unchanged |
| STATE OF WISCONSIN INVESTMENT BOARD 0.63% of their portfolio | 583.4k $222.3m | Reduced -21.1k |
| APG Asset Management N.V. 0.41% of their portfolio | 581.0k $203.0m | Reduced -32.6k |
| Polaris Capital Management, LLC 8.29% of their portfolio | 579.4k $220.8m | Reduced -29.7k |
| BESSEMER GROUP INC 0.46% of their portfolio | 574.6k $219.0m | Reduced -144.1k |
| Sustainable Growth Advisers, LP 1.03% of their portfolio | 570.6k $217.4m | Added +207.0k |
| ProShare Advisors LLC 0.61% of their portfolio | 553.9k $211.1m | Reduced -51.8k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.46% of their portfolio | 535.3k $204.0m | Reduced -22.6k |
| Rathbones Group PLC 1.88% of their portfolio | 529.3k $201.7m | Reduced -19.7k |