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 ($654.8m this quarter). Holder counts are more reliable. Shares outstanding: 480.7m as of 2024-03-31, 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 ≈ $463.95. Options: 41 managers hold calls ($1.1bn notional), 44 hold puts ($1.2bn).
Trends to Q1 2024
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 |
| Q3 2023 | 1,615 |
| Q4 2023 | 1,774 |
| Q1 2024 | 1,833 |
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 |
| Q3 2023 | 755 | 655 |
| Q4 2023 | 772 | 726 |
| Q1 2024 | 867 | 764 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $649.3m | $544.9m | 0.84 |
| Q3 2023 | $666.4m | $712.7m | 1.07 |
| Q4 2023 | $1.1bn | $1.0bn | 0.98 |
| Q1 2024 | $1.1bn | $1.2bn | 1.09 |
Biggest buyers
| MORGAN STANLEY | Added | +8.1m |
| Clearbridge Investments, LLC | Added | +1.6m |
| JPMORGAN CHASE & CO | Added | +1.5m |
| Invesco Ltd. | Added | +1.2m |
| National Pension Service | New | +823.9k |
| BlackRock Inc. | Added | +808.2k |
| BANK OF AMERICA CORP /DE/ | Added | +645.7k |
| ProShare Advisors LLC | Added | +463.1k |
| FIRST TRUST ADVISORS LP | Added | +460.5k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +440.8k |
Biggest sellers
| Capital World Investors | Reduced | -2.8m |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main | Reduced | -1.4m |
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -1.0m |
| Swedbank AB | Sold out | -958.4k |
| MILLENNIUM MANAGEMENT LLC | Reduced | -871.6k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -781.2k |
| HRT FINANCIAL LP | Sold out | -727.1k |
| Capital Research Global Investors | Reduced | -631.7k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -630.9k |
| Qube Research & Technologies Ltd | Reduced | -478.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $197.4m425.1k shares |
| CITADEL ADVISORS LLC | Reduced | $139.5m300.5k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $110.1m237.2k shares |
| JANE STREET GROUP, LLC | Reduced | $97.7m210.4k shares |
| SIMPLEX TRADING, LLC | Added | $81.3m175.0k shares |
| Twin Tree Management, LP | Reduced | $76.3m164.4k shares |
| UBS Group AG | Added | $48.7m104.9k shares |
| BANK OF AMERICA CORP /DE/ | Added | $45.0m96.9k shares |
| Squarepoint Ops LLC | Reduced | $37.3m80.4k shares |
| WOLVERINE TRADING, LLC | Added | $32.5m70.1k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $193.6m416.9k shares |
| CITADEL ADVISORS LLC | Reduced | $137.4m295.9k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $105.8m227.8k shares |
| UBS Group AG | Added | $70.2m151.1k shares |
| SIMPLEX TRADING, LLC | Added | $69.9m150.5k shares |
| CITIGROUP INC | Reduced | $54.8m118.1k shares |
| LOCUST WOOD CAPITAL ADVISERS, LLC | New | $49.2m106.0k shares |
| Balyasny Asset Management L.P. | Added | $47.0m101.3k shares |
| JANE STREET GROUP, LLC | Added | $46.6m100.4k shares |
| Hudson Bay Capital Management LP | New | $46.4m100.0k 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 |
|---|---|
| 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 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 | $57.9k | — |
| Q3 2022 | 0 | — | 0 | — | — |
| Q4 2022 | 0 | — | 3 | $26.2m | — |
| Q1 2023 | 0 | — | 1 | $1.5m | — |
| Q2 2023 | 0 | — | 4 | $23.9m | — |
| Q3 2023 | 0 | — | 3 | $20.9m | $482.6k |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 8 | $57.8m | $2.5m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-03-12 | Bichara Guillermo Exec VP & Chief Legal Officer | Sold | $2.8m6.0k shares |
| 2024-03-12 | Durbin Sean Executive VP, North America | Sold plan | $2.5m5.3k shares |
| 2024-03-07 | Strauss David P Executive VP, Chief HR Officer | Sold | $1.2m2.5k shares |
| 2024-03-06 | Lamba Sanjiv Chief Executive Officer, director | Sold | $3.8m8.3k shares |
| 2024-03-05 | Nowicki Juergen Executive VP, Engineering | Sold | $6.0m13.1k shares |
| 2024-03-04 | White Matthew J Chief Financial Officer | Sold | $23.4m51.2k shares |
| 2024-03-04 | ANGEL STEPHEN F Director | Sold | $18.0m39.6k shares |
| 2024-02-08 | Pfann Oliver Senior Vice President, EMEA | Sold | $124.4k300 shares |
| 2024-02-08 | Pfann Oliver Senior Vice President, EMEA | Sold | $124.4k300 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, Q1 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.41% of their portfolio | 44.7m $20.7bn | Added +406.0k |
| BlackRock Inc. 0.39% of their portfolio | 35.9m $16.7bn | Added +808.2k |
| MORGAN STANLEY 0.27% of their portfolio | 22.1m $10.2bn | Added +8.1m |
| STATE STREET CORP 0.41% of their portfolio | 19.7m $9.1bn | Added +84.2k |
| JPMORGAN CHASE & CO 0.32% of their portfolio | 15.3m $7.1bn | Added +1.5m |
| FMR LLC 0.43% of their portfolio | 13.8m $6.4bn | Reduced -46.2k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 1.49% of their portfolio | 10.7m $5.0bn | Reduced -781.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.46% of their portfolio | 10.6m $4.9bn | Added +440.8k |
| Capital International Investors 0.98% of their portfolio | 10.4m $4.9bn | Reduced -314.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.56% of their portfolio | 9.8m $4.5bn | Reduced -1.0m |
| Capital Research Global Investors 1.02% of their portfolio | 9.7m $4.5bn | Reduced -631.7k |
| Capital World Investors 0.71% of their portfolio | 9.2m $4.3bn | Reduced -2.8m |
| Bank of New York Mellon Corp 0.66% of their portfolio | 7.4m $3.4bn | Reduced -3.8k |
| NORGES BANK 0.52% of their portfolio | 7.0m $3.3bn | Reduced -426.4k |
| WELLINGTON MANAGEMENT GROUP LLP 0.56% of their portfolio | 6.8m $3.1bn | Added +45.6k |
| Nuveen Asset Management, LLC 0.83% of their portfolio | 6.0m $2.8bn | Reduced -376.2k |
| Winder Pte. Ltd. 50.68% of their portfolio | 5.1m $2.4bn | Unchanged |
| NORTHERN TRUST CORP 0.38% of their portfolio | 4.7m $2.2bn | Reduced -238.4k |
| FRANKLIN RESOURCES INC 0.67% of their portfolio | 4.6m $2.1bn | Added +362.2k |
| WELLS FARGO & COMPANY/MN 0.50% of their portfolio | 4.0m $1.9bn | Added +150.2k |
| BANK OF AMERICA CORP /DE/ 0.16% of their portfolio | 3.5m $1.6bn | Added +645.7k |
| Invesco Ltd. 0.35% of their portfolio | 3.5m $1.6bn | Added +1.2m |
| WCM INVESTMENT MANAGEMENT, LLC 3.85% of their portfolio | 3.5m $1.6bn | Reduced -63.9k |
| AMERIPRISE FINANCIAL INC 0.44% of their portfolio | 3.4m $1.6bn | Reduced -7.9k |
| GOLDMAN SACHS GROUP INC 0.33% of their portfolio | 3.4m $1.6bn | Reduced -305.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.31% of their portfolio | 2.9m $1.3bn | Added +71.3k |
| CANADA PENSION PLAN INVESTMENT BOARD 1.41% of their portfolio | 2.9m $1.3bn | Added +66.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.46% of their portfolio | 2.8m $1.3bn | Added +225.7k |
| Legal & General Group Plc 0.37% of their portfolio | 2.8m $1.3bn | Reduced -16.9k |
| Impax Asset Management Group plc 4.76% of their portfolio | 2.7m $1.2bn | Reduced -131.0k |
| BARCLAYS PLC 0.55% of their portfolio | 2.6m $1.2bn | Added +301.2k |
| Artisan Partners Limited Partnership 1.76% of their portfolio | 2.6m $1.2bn | Reduced -261.2k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 1.34% of their portfolio | 2.5m $1.2bn | Reduced -1.4m |
| DEUTSCHE BANK AG\ 0.54% of their portfolio | 2.5m $1.2bn | Added +130.9k |
| PARNASSUS INVESTMENTS, LLC 2.39% of their portfolio | 2.4m $1.1bn | Reduced -65.3k |
| UBS Group AG 0.37% of their portfolio | 2.4m $1.1bn | Added +172.4k |
| Amundi 0.45% of their portfolio | 2.4m $1.1bn | Reduced -26.6k |
| NORDEA INVESTMENT MANAGEMENT AB 1.26% of their portfolio | 2.3m $1.1bn | Reduced -130.5k |
| ROYAL BANK OF CANADA 0.24% of their portfolio | 2.1m $985.4m | Reduced -194.4k |
| COMGEST GLOBAL INVESTORS S.A.S. 12.88% of their portfolio | 2.0m $925.1m | Reduced -79.3k |
| JANUS HENDERSON GROUP PLC 0.49% of their portfolio | 2.0m $906.7m | Added +23.2k |
| DIMENSIONAL FUND ADVISORS LP 0.25% of their portfolio | 2.0m $905.8m | Added +5.3k |
| Clearbridge Investments, LLC 0.67% of their portfolio | 1.8m $851.3m | Added +1.6m |
| T. Rowe Price Investment Management, Inc. 0.50% of their portfolio | 1.7m $811.1m | Reduced -238.7k |
| STIFEL FINANCIAL CORP 0.87% of their portfolio | 1.7m $767.1m | Reduced -19.4k |
| ALLIANCEBERNSTEIN L.P. 0.26% of their portfolio | 1.6m $743.2m | Reduced -78.4k |
| Sumitomo Mitsui Trust Group, Inc. 0.47% of their portfolio | 1.5m $681.7m | Added +27.2k |
| Swiss National Bank 0.47% of their portfolio | 1.5m $674.3m | Reduced -73.6k |
| MACKENZIE FINANCIAL CORP 0.91% of their portfolio | 1.3m $626.5m | Reduced -5.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.36% of their portfolio | 1.3m $620.2m | Added +4.3k |
| Dodge & Cox 0.36% of their portfolio | 1.3m $616.1m | Unchanged |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 1.54% of their portfolio | 1.3m $594.9m | Added +45.7k |
| BROWN BROTHERS HARRIMAN & CO 4.42% of their portfolio | 1.2m $576.3m | Reduced -18.7k |
| PUBLIC INVESTMENT FUND 3.12% of their portfolio | 1.2m $561.1m | Unchanged |
| BANK OF MONTREAL /CAN/ 0.17% of their portfolio | 1.2m $549.9m | Reduced -84.4k |
| WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST 6.25% of their portfolio | 1.1m $520.0m | Unchanged |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.48% of their portfolio | 1.1m $518.9m | Reduced -164.5k |
| California Public Employees Retirement System 0.36% of their portfolio | 1.1m $518.2m | Reduced -166.4k |
| Alphinity Investment Management Pty Ltd 4.52% of their portfolio | 1.1m $509.9m | Reduced -51.0k |
| CREDIT SUISSE AG/ 0.49% of their portfolio | 1.1m $505.1m | Reduced -76.3k |
| C WorldWide Group Holding A/S 5.49% of their portfolio | 1.0m $481.5m | Reduced -14.2k |
| TD Asset Management Inc 0.44% of their portfolio | 1.0m $470.8m | Reduced -96.7k |
| FIL Ltd 0.47% of their portfolio | 1.0m $470.5m | Reduced -37.1k |
| CIBC Private Wealth Group LLC 0.91% of their portfolio | 1.0m $466.9m | Reduced -30.0k |
| Pictet Asset Management Holding SA 0.49% of their portfolio | 972.8k $451.7m | Reduced -113.8k |
| ProShare Advisors LLC 1.20% of their portfolio | 968.4k $449.6m | Added +463.1k |
| RHUMBLINE ADVISERS 0.41% of their portfolio | 914.9k $424.8m | Reduced -787 |
| Harding Loevner LP 2.54% of their portfolio | 884.7k $410.8m | Reduced -289.0k |
| ABN AMRO Bank N.V. 6.10% of their portfolio | 878.8k $408.4m | Reduced -2.5k |
| Allianz Asset Management GmbH 0.67% of their portfolio | 862.4k $400.4m | Reduced -38.1k |
| DekaBank Deutsche Girozentrale 0.73% of their portfolio | 844.3k $389.4m | Reduced -2.0k |
| Perpetual Ltd 3.81% of their portfolio | 838.5k $389.3m | Reduced -56.2k |
| National Pension Service 0.46% of their portfolio | 823.9k $382.6m | New |
| LOOMIS SAYLES & CO L P 0.53% of their portfolio | 808.5k $375.4m | Reduced -32.4k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.46% of their portfolio | 779.0k $361.7m | Reduced -386 |
| Russell Investments Group, Ltd. 0.57% of their portfolio | 773.5k $359.2m | Added +18.2k |
| AMF Tjanstepension AB 2.69% of their portfolio | 765.9k $355.6m | Added +124.3k |
| HSBC HOLDINGS PLC 0.25% of their portfolio | 741.4k $344.2m | Added +330.4k |
| Robeco Institutional Asset Management B.V. 0.74% of their portfolio | 730.8k $339.3m | Added +14.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.12% of their portfolio | 705.4k $327.5m | Added +2.8k |
| NEUBERGER BERMAN GROUP LLC 0.26% of their portfolio | 675.7k $313.7m | Reduced -49.5k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.41% of their portfolio | 668.2k $310.3m | Reduced -82.5k |
| DANSKE BANK A/S 0.97% of their portfolio | 662.1k $307.4m | First filing |
| Fiera Capital Corp 0.87% of their portfolio | 645.7k $299.8m | Added +18.6k |
| FIRST MANHATTAN CO. LLC. 0.94% of their portfolio | 626.5k $290.9m | Added +249 |
| CITIGROUP INC 0.31% of their portfolio | 620.7k $288.2m | Added +87.7k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.40% of their portfolio | 620.6k $288.2m | Added +126.8k |
| APG Asset Management N.V. 0.47% of their portfolio | 617.4k $265.4m | Added +3.5k |
| Winslow Capital Management, LLC 1.08% of their portfolio | 616.9k $286.4m | Reduced -278.4k |
| Intermede Investment Partners Ltd 6.10% of their portfolio | 609.4k $283.0m | Reduced -37.5k |
| SEI INVESTMENTS CO 0.41% of their portfolio | 599.7k $278.4m | Reduced -93.1k |
| RAYMOND JAMES & ASSOCIATES 0.18% of their portfolio | 580.0k $269.3m | Added +12.1k |
| AMERICAN CENTURY COMPANIES INC 0.16% of their portfolio | 548.3k $254.6m | Reduced -44.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.67% of their portfolio | 546.4k $253.7m | Added +211 |
| BESSEMER GROUP INC 0.46% of their portfolio | 543.6k $252.4m | Reduced -29.6k |
| Corient Private Wealth LP 0.45% of their portfolio | 542.8k $251.4m | Added +4.6k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.45% of their portfolio | 537.8k $191.2m | Added +16.2k |
| Rathbones Group PLC 1.40% of their portfolio | 522.1k $242.4m | Added +11.2k |
| OMERS ADMINISTRATION Corp 2.77% of their portfolio | 521.4k $242.1m | Unchanged |
| NATIXIS ADVISORS, LLC 0.55% of their portfolio | 516.0k $239.6m | Added +56.5k |