IBM
The ownership breakdown for IBM tells an interesting story about who actually wants to own this stock.
The 9.1% held by quality compounder-style investors — funds that typically target durable businesses with stable returns — suggests some institutional money views IBM's transformation narrative around hybrid cloud and AI (via its Watson and consulting arms) with at least measured credibility. The income-defensive slice at 1.5% is surprisingly thin for a stock IBM's age and dividend history, though that could reflect data classification quirks as much as anything fundamental. The institutional pressure score of 0.00 and market regime score of 0.01 both land squarely in neutral territory, indicating no meaningful directional tilt in aggregate institutional behavior at the time of reporting. Worth flagging: 13F filings — the source for institutional ownership data — are submitted up to 45 days after quarter-end, meaning what you're seeing could reflect positions that are 90 days stale by the time you read them. Short interest data refreshes only biweekly. The current price and market cap figures in the dataset appear corrupted, so any valuation work should use a verified source. None of this data predicts where IBM goes from here — it's a rearview mirror, not a windshield.
§ 03 · SIGNAL STACK · WHAT THE INPUTS SAY
§ 04 · FUNDAMENTALS · THE BOOKS
| P/E | 22.0 | P/S | — |
| EV/EBITDA | — | P/B | 8.48 |
| Revenue (TTM) | — | Rev YoY | — |
| Gross margin | — | Op margin | — |
| Net income | — | FCF | — |
| Cash | — | Debt | — |
| Dividend | 2.84% | Buybacks 1Y | — |
The ownership breakdown for IBM tells an interesting story about who actually wants to own this stock. Passive index funds dominate at 23.5%, which makes sense given IBM's S&P 500 membership — a chunk of that ownership is essentially forced buying, not conviction. The second-largest bucket is "other unclassified" at 21.2%, which is a polite way of saying the data can't cleanly categorize a meaningful slice of the shareholder base. Dealer and bank holdings account for another 10.7%, likely reflecting hedging activity and structured products rather than directional bets on IBM's business. What's notably absent: growth and momentum-oriented investors show up at exactly 0.0%, and deep value players are similarly nonexistent. That's a signal worth sitting with.
| Fund | Shares | % port | Δ Q/Q |
|---|---|---|---|
| Vanguard Group | 87.9M | 0.4% | — |
| State Street | 55.0M | 0.5% | — |
| BlackRock, Inc. | 30.9M | 0.2% | +276% |
| Capital World Investors | 22.0M | 0.9% | +29% |
| Geode Capital Management | 19.8M | 0.4% | +1% |
| BlackRock, Inc. | 19.2M | 0.1% | +134% |
Top institutional owners for IBM as of the most recent 13F window (Dec 2025). Δ Q/Q reflects share-count change vs. the prior filing — positive green means adding, negative red means trimming. Cross-reference with the ownership-mix bars below to see which strategy cohort is driving the flow.
§ 06 · WHO OWNS IT · BY STRATEGY
Ownership mix by behavioral cohort. Top bars indicate which style of capital dominates the float — passive indexing, quality compounders, dealer/bank, systematic quant, etc. Big quality-compounder share means concentrated active conviction; heavy passive share means flows are dictated by index rebalances, not fundamentals.
§ 07 · INSIDER ACTIVITY · LAST 180 DAYS
No Form 4 filings on record for IBM in the last 180 days.