International Flavors & Fragrances, Inc. (IFF)

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 692 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

• UNVERIFIED LEAD FROM THE BRIEF, CONFIRMED AND CORRECTED: IFF has indeed retained a minority equity stake tied to a divestiture, but it is the FOOD INGREDIENTS segment (sold to CVC Capital Partners, announced 29 May 2026, 10% retained, not yet closed as of the Q2 2026 10-Q), not Pharma Solutions, Cosmetic Ingredients or 'Nutrition' as guessed. Both Pharma Solutions (divested 1 May 2025, $2.581bn gross cash proceeds, per FY2025 10-K Note 3) and Cosmetic Ingredients (divested 2 Apr 2024, $839m cash proceeds, per FY2025 10-K Note 3) were confirmed via the filings themselves to be straightforward all-cash sales with NO retained equity interest disclosed anywhere in the text. The Soy Crush, Concentrates & Lecithin (SCL) business, divested for cash (~$105m) on 2 Mar 2026 as part of the SAME combined disposal plan as Food Ingredients, also carries no retained stake, confirming the 10% retention is specific to the Food Ingredients/CVC transaction.
• Holdings side searched in full: FY2025 10-K (filed 27 Feb 2026, the newest 10-K) and the Q2 2026 10-Q (filed 4 Aug 2026, period ended 30 Jun 2026, the newest and freshest filing overall) were both searched via scripts/filing.py for 'equity method', 'joint venture', 'non-marketable', 'cost method', 'affiliate', 'minority interest', 'retained interest', 'Pharma Solutions', 'Cosmetic Ingredients', and the Food Ingredients/SCL/CVC disposal terms. The only balance-sheet equity-method line found is a combined, immaterial 'Equity method investments' balance of $10 million (Q2 2026) / $15 million (FY2025) inside 'Other Assets', not broken out by investee anywhere in either filing; per the project's rule against assigning a combined balance to one investee, this is left entirely out of the holdings array (it is far below a materiality threshold worth modelling and no split is disclosed). Exhibit 21 (subsidiaries list) of the FY2025 10-K was also checked: it DOES carry a percentage column, but every entry with a percentage (Danisco Shineway Luohe Soy Industry Company Limited 60%, Danisco Shineway Luohe Food Company Limited 52%, IFF Hangzhou 95%, IFF India 93.36%, Nutra-Lease Ltd. 56.9%, Vaya Pharma Pte Ltd 80%, iDrug Delivery, Inc. 65%) is a MAJORITY-owned, IFF-controlled and consolidated operating subsidiary with a local minority co-investor, not a minority equity-method stake IFF holds in someone else's business; these are excluded per the brief's exclusion of consolidated/controlled operating subsidiaries, and none is itself a notable standalone company that belongs in this database.
• Register: 12 rows, share total 162,871,704, self-gate 63.83% of the 255,149,963 shares outstanding (computed on this final file exactly as the chart computes it: raw shares summed, no aggregate container included so no reduction applies). This is above the brief's rough 25-55% guideance band, so it was specifically investigated rather than shipped uninspected: every row was cross-checked and the concentration is real, not a bug. All 12 rows show an implied price (value_usd / shares) within a tight $79.22 to $79.61 band, consistent with IFF's Q2 2026 trading price and with each other, so there is no unit mismatch or stale/fresh mixing across rows. The top 4 rows (Dodge & Cox, Vanguard, Winder/Freemont, BlackRock) are independently corroborated by IFF's own 2026 DEF 14A 5%-owner table at closely matching, slightly-lower (stale, Mar 2026) share counts and percentages (13.70%, 12.40%, 9.90% and 7.00% respectively versus this file's fresher 14.50%, 11.98%, 9.94% and 9.08%), so the size of the top holders is filing-confirmed from two independent sources, not an artifact of one parse. Capital Group and T. Rowe Price were each checked across ALL of their known registrant CIKs (three for Capital Group, two for T. Rowe) individually, per the project's rule, with the non-holding entities explicitly confirmed at zero rather than assumed. IFF genuinely has an unusually concentrated ownership base for an S&P 500 company: a very large active value-manager stake (Dodge & Cox), a large private family/foundation-linked stake (Winder Pte Ltd/Freemont Capital group, Singapore/Liechtenstein entities) alongside the standard index managers, and two director-linked strategic holders (Carl Icahn's Cooperation Agreement position and Continental Grain Company via director Paul Fribourg), consistent with IFF's well documented 2022-2023 activist/board-refresh history.
• Vanguard case: the parent CIK 0000102909 filed Form 13F-NT (a notice with no holdings) for Q2 2026, so per the project's rule the successor entities are the position. Eight successor entities were summed, enumerated from data/registers/IFF.json's entity list and independently re-fetched for their own fresh Q2 2026 13F-HR figures: Vanguard Capital Management LLC (16,255,207 sh), Vanguard Portfolio Management LLC (11,608,686 sh), Vanguard Fiduciary Trust Co (1,423,626 sh), Vanguard Global Advisers LLC (551,878 sh), Vanguard Asset Management Ltd (585,367 sh), Vanguard Investments Australia Ltd (127,380 sh), Vanguard Personalized Indexing Management LLC (22,518 sh), and Vanguard National Trust Co (886 sh, present here though the project's notes flag it as sometimes absent from other companies' snapshots). Total 30,575,548 shares, $2,422,194,914.
• The Freemont Capital Pte Ltd entry in data/registers/IFF.json (CIK 0001796107, 25,356,381 shares) turned out to be part of a five-entity Singapore/Liechtenstein family or foundation investment group (Winder Pte. Ltd., Winder Investment Anstalt, Winder Anstalt, Freemont Capital Pte. Ltd, Haldor Foundation) that files jointly on Schedule 13G and for which Freemont Capital Pte Ltd itself also files its own 13F-HR every quarter; the fresh Q2 2026 13F-HR from Freemont exactly matches the register snapshot and IFF's own proxy disclosure (25,356,381 shares, 9.90% per the proxy), so this position is confirmed current and stable rather than stale.
• T. Rowe Price Associates, Inc.'s Q2 2026 13F-HR reports its IFF position's dollar value in THOUSANDS on the relevant lines (as-filed $29,526 for 372,696 shares, an implied price of about 8 cents), a known filer quirk for this registrant; the true value used in this file is $29,526,000, corrected explicitly in the row's method_note rather than silently, consistent with the same quirk seen on other companies in this project.
• Could not source: any breakdown of IFF's $10-15 million combined 'equity method investments' balance by individual investee (not disclosed in either the FY2025 10-K or the Q2 2026 10-Q); any valuation, share count, or unit count for the retained 10% Food Ingredients equity interest (not yet closed, no terms for the retained stake disclosed beyond the bare percentage); whether any of the smaller register holders not covered here (the register snapshot lists 40 total holders; only the top 10 plus the two swept families above are covered, which meets the brief's 8-12-plus-strategic target) hold anything strategic in size; and Freemont/Winder group's individual voting versus dispositive power split (the proxy footnote describing shared vs sole power for this specific group was not fully captured in the search windows pulled and was not pursued further given time budget, though the aggregate 25,356,381-share total is independently confirmed by Freemont's own 13F).
• Coordinator verification of the 63.83 per cent self-gate, which sits above the project's 55 per cent investigate-rather-than-ship line. It was investigated and is genuine concentration, not a double count. Every curated row was compared against this project's own 13F-derived snapshot at data/registers/IFF.json, built from 692 filers at 31 Mar 2026 and independent of the filings read here: Dodge & Cox 36,472,942 there against 37,007,037 here, Vanguard 30,618,575 against 30,575,548, BlackRock 22,721,293 against 23,175,401, State Street 11,287,954 against 12,340,998, First Eagle 9,314,670 against 9,409,698. Two rows match the snapshot to the exact share: Carl C. Icahn at 4,275,000 and the Winder Pte. Ltd. group at 25,356,381, which the snapshot carries under the single filer name Freemont Capital Pte Ltd. That exact match is the point worth recording, because it confirms the Winder group figure is ONE jointly filed 13F total covering the related persons rather than several sibling entities added together, so summing the group did not inflate it. The snapshot also reports 257,031,489 shares across 692 filers, approximately 100.7 per cent of the 255,149,963 shares outstanding, so IFF is close to wholly institutionally reported and a concentrated top four (Dodge & Cox 14.50, Vanguard 11.98, the Winder group 9.94 and BlackRock 9.08, together 45.50 per cent) makes a top-12 total of 63.83 per cent consistent rather than anomalous. There is no proxy aggregate in this register to overlap-mark, which overlap.py confirms at 0 aggregates, 0 violations and 0 orphans.