International Business Machines Corporation

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 3,431 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• IBM does not itself file Form 13F. Its complete EDGAR filing history (submissions JSON for CIK 0000051143, checked 17 August 2026) contains zero 13F-HR or 13F-NT filings, consistent with IBM Corp not acting as an institutional investment manager.
• A separate legal entity, IBM Retirement Fund (CIK 0001018825, also referenced as IBM Personal Pension Plan Trust / IBM Retirement Plan Trust), does file Form 13F-HR regularly. That fund holds assets for the benefit of IBM's pension plan participants, not IBM Corp's own strategic book. Per the brief, pension plan assets held for beneficiaries are excluded from this file's holdings and register.
• Kyndryl: IBM spun off Kyndryl Holdings, Inc. on 3 November 2021, distributing 80.1 percent of Kyndryl's shares to IBM stockholders and retaining 19.9 percent. Per IBM's FY2022 Form 10-K (Exhibit 13, filed 28 February 2023): 'During 2022, we fully disposed of our retained interest in Kyndryl common stock pursuant to exchange agreements with a third-party financial institution, which were completed within twelve months of separation.' IBM holds no Kyndryl equity today. Neither the FY2025 10-K nor the Q2 2026 10-Q mentions Kyndryl outside of historical stock-performance-graph references to the 2021 separation, confirming no current stake.
• Holdings list is empty and that is the sourced finding, not a gap. The FY2025 Form 10-K (Exhibit 13, period ended 31 December 2025, filed 24 February 2026) and the Q2 2026 Form 10-Q (period ended 30 June 2026, filed 23 July 2026) were both searched for 'equity investment', 'equity method', 'non-marketable', 'measurement alternative' and 'unrealized gain'. IBM discloses only combined balances, never itemized by investee: at 31 December 2025, equity method investments were $60 million (versus $108 million at 31 December 2024), and equity investments measured at cost (non-marketable, non-controlling stakes in private entities) were $221 million (versus $156 million at 31 December 2024). Both are folded into 'investments and sundry assets' on the balance sheet with no supporting schedule naming any investee. Per the brief's rule against distributing a combined bucket across members, no individual holding is recorded from this balance.
• IBM Ventures, IBM's ~$500 million corporate venture fund, has made numerous minority investments in early-stage AI and quantum startups, including SQK and QodeX Quantum (announced February 2026) among roughly 23 disclosed investments. None of these carry a disclosed dollar amount, share count or ownership percentage in public sources checked, so none are recorded as a sized holding; they are listed in unknowns instead.
• IBM's Q2 2026 10-Q fair-value table shows a small 'Equity investments' line of $96 million (Level 1, i.e. marketable) as of 30 June 2026 versus $0 at 31 December 2025. This is a marketable-securities fair-value disclosure, not broken out by name, and is separate from the equity-method and cost-method balances discussed above; also not distributed to any named holding.
• Register percentages are computed by this research against a stated share count, not taken from the source filing. The 30 June 2026 13F rows (BlackRock, State Street, Geode, Morgan Stanley, JPMorgan, FMR) use 942,134,390 shares outstanding as of 30 June 2026 (Q2 2026 10-Q cover). The Vanguard 13F row (period 31 December 2025) and the proxy-sourced insider rows (as of 31 December 2025) use 938,034,404 shares outstanding as of 10 February 2026 (FY2025 10-K cover), the closest available count.
• Register disagreement, recorded rather than resolved. IBM's 2026 proxy statement (filed 10 March 2026) reports beneficial ownership of more than 5 percent as of 31 December 2025 sourced to Schedule 13G filings: Vanguard 92,822,090 shares (10.03 percent), BlackRock 75,479,656 shares (8.3 percent), State Street 55,035,821 shares (6.03 percent). These 13G-sourced figures are lower than and dated differently from the corresponding managers' own Form 13F-HR figures used in the register above (Vanguard 97,216,131 shares for Q4 2025; BlackRock 76,763,481 and State Street 56,045,055 for Q2 2026). The register uses the 13F data as the more current, directly-filed source per manager.
• Vanguard's most recent Form 13F-HR on file under CIK 0000102909 covers the quarter ended 31 December 2025. No 13F-HR for Q1 or Q2 2026 was found under that CIK within the time budget; Vanguard may be filing 13F-NT (notice) for later quarters with holdings reported by another Vanguard reporting entity, as previously observed for other companies in this project.
• IBM has a single class of common stock; no dual-class structure or founder control block. No director or named executive officer individually holds close to 1 percent of shares outstanding; Arvind Krishna, the Chairman, President and CEO, beneficially owns 418,689 shares (about 0.045 percent) per the 'Common stock' column of the proxy's beneficial ownership table, separate from unvested options/RSUs and DCEAP deferral shares reported in adjacent columns of the same table.