Baxter International Inc.
MX ˙ BMV ˙ US0718131099
SecurityMX:BAX / Baxter International Inc.
InstitutionNorges Bank
Latest Disclosed Ownership6,191,263 shares
Latest Disclosed Value $ 118,315,036
Norges Bank ownership in BAX / Baxter International Inc.

On February 10, 2026 - Norges Bank filed a 13F-HR form disclosing ownership of 6,191,263 shares of Baxter International Inc. (MX:BAX) valued at $118,315,036 USD as of December 31, 2025. The entity filed a previous 13F-HR on November 13, 2025 disclosing 0 shares of Baxter International Inc..

Institutional Ownership: 13F and NPORT Filings

The Security and Class in the table below are shown exactly as filed by the investor. We do our best to track continuity of investments through acquisitions, and this will be reflected in the table as changes in names. In addition to descriptive data, performance of the investment is shown over time. To calculate quarterly performance, we first calculate cost basis of the shares purchased during the quarter, then use that to calculate gross profit. Quarterly return is Gross Profit / Starting Portfolio value.

Note that cost basis is calculated and stored in thousands, so small quarterly changes in shares frequently result in a cost basis of zero.

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Disclosed Equity Positions (from 13F/NPORT Filings)
File
Date		 Effective
Date		Form Security Class ID Avg Price
Paid (Est)		 Reported
Shares		 ΔShares ΔShares
(%)		 Reported
Value
(x1000)		 ΔValue
(%)		 Alloc
(%)		 ΔAlloc ΔAlloc (%) Cost Basis
(x1000)		 Unrealized
Gain/Loss
(x1000)
2026-02-10 2025-12-31 13F BAXTER INTL COM 071813109 6,191,263 6,191,263 118,315 0.0127
2025-11-13 2025-09-30 13F BAXTER INTL COM 071813109 0 -5,468,824 -100.00 0 -100.00
2025-08-13 2025-06-30 13F BAXTER INTL COM 071813109 5,468,824 860,881 18.68 165,596 4.99 0.0207
2026-05-11 2025-03-31 13F/A-1 BAXTER INTL COM 071813109 4,607,943 57,932 1.27 157,730 18.88 0.0221
2025-02-12 2024-12-31 13F BAXTER INTL COM 071813109 4,550,011 -722,614 -13.71 132,678 -33.73 0.0174
2025-11-12 2024-09-30 13F/A-1 BAXTER INTL COM 071813109 5,272,625 -1,088,268 -17.11 200,202 -5.91 0.0280
2024-08-14 2024-06-30 13F BAXTER INTL COM 071813109 6,360,893 17,447 0.28 212,772 -21.52 0.0318
2025-05-14 2024-03-31 13F/A-1 BAXTER INTL COM 071813109 6,343,446 228,407 3.74 271,119 14.68 0.0428
2024-02-09 2023-12-31 13F BAXTER INTL COM 071813109 6,115,039 -2,298,015 -27.31 236,407 -25.54 0.0413
2024-11-13 2023-09-30 13F/A-1 BAXTER INTL COM 071813109 8,413,054 230,937 2.82 317,509 -14.83 0.0644
2024-08-14 2023-06-30 13F/A-1 BAXTER INTL COM 071813109 8,182,117 -1,963,350 -19.35 372,777 -9.41 0.0736
2024-05-15 2023-03-31 13F/A-1 BAXTER INTL COM 071813109 10,145,467 2,706,283 36.38 411,500 8.53 0.0901
2023-02-14 2022-12-31 13F BAXTER INTL COM 071813109 7,439,184 -40,043 -0.54 379,175 -5.87 0.0914
2023-11-13 2022-09-30 13F/A-1 BAXTER INTL COM 071813109 7,479,227 891,100 13.53 402,831 -4.80 0.1071
2023-08-14 2022-06-30 13F/A-1 BAXTER INTL COM 071813109 6,588,127 897,124 15.76 423,155 -4.11 0.1094
2023-05-12 2022-03-31 13F/A-1 BAXTER INTL COM 071813109 5,691,003 140,783 2.54 441,280 -7.38 0.0962
2022-03-09 2021-12-31 13F/A-1 BAXTER INTL COM 071813109 5,550,220 -93,536 -1.66 476,431 4.96 0.0980
2022-11-14 2021-09-30 13F/A-1 BAXTER INTL COM 071813109 5,643,756 -24,475 -0.43 453,927 -0.52 0.1004
2022-08-15 2021-06-30 13F/A-1 BAXTER INTL COM 071813109 5,668,231 -257,967 -4.35 456,293 -8.71 0.0989
2022-05-09 2021-03-31 13F/A-1 BAXTER INTL COM 071813109 5,926,198 7,793 0.13 499,816 5.25 0.1144
2021-03-02 2020-12-31 13F/A-1 BAXTER INTL COM 071813109 5,918,405 21,662 0.37 474,893 0.14 0.1109
2021-11-12 2020-09-30 13F/A-1 BAXTER INTL COM 071813109 5,896,743 60,345 1.03 474,216 -5.63 0.1260
2021-08-13 2020-06-30 13F/A-1 BAXTER INTL COM 071813109 5,836,398 373,943 6.85 502,514 13.31 0.1447
2021-05-07 2020-03-31 13F/A-1 BAXTER INTL COM 071813109 5,462,455 -1,645,620 -23.15 443,497 -25.38 0.1580
2020-03-03 2019-12-31 13F/A-1 BAXTER INTL COM 071813109 7,108,075 192,585 2.78 594,377 -1.74 0.1659
2020-11-13 2019-09-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 6,915,490 818,027 13.42 604,898 21.13 0.1852
2020-08-13 2019-06-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 6,097,463 -2,483,142 -28.94 499,383 -28.42 0.1543
2020-05-11 2019-03-31 13F/A-2 BAXTER INTERNATIONAL COM 071813109 8,580,605 232,700 2.79 697,688 26.98 0.2254
2019-03-04 2018-12-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 8,347,905 924,152 12.45 549,458 -3.99 0.2044
2019-12-02 2018-09-30 13F/A-3 BAXTER INTERNATIONAL COM 071813109 7,423,753 -112,891 -1.50 572,296 2.84 0.1859
2019-12-02 2018-09-30 13F/A-2 BAXTER INTERNATIONAL COM 071813109 7,423,753 -112,891 572,296 0.1859
2019-11-12 2018-09-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 7,423,753 -112,891 572,296 0.1859
2019-08-12 2018-06-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 7,536,644 318,788 4.42 556,506 18.54 0.1910
2019-05-15 2018-03-31 13F/A-2 BAXTER INTERNATIONAL COM 071813109 7,217,856 -403,445 -5.29 469,450 -4.71 0.1699
2018-03-05 2017-12-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 7,621,301 -1,187,721 -13.48 492,641 -10.88 0.1766
2018-11-13 2017-09-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 8,809,022 -163,265 -1.82 552,766 1.76 0.2098
2018-07-24 2017-06-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 8,972,287 276,329 3.18 543,182 20.45 0.2156
2018-05-11 2017-03-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 8,695,958 -527,218 -5.72 450,972 10.27 0.1851
2017-03-02 2016-12-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 9,223,176 123,809 1.36 408,956 -1.14 0.1787
2017-11-13 2016-09-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 9,099,367 190,062 2.13 413,687 2.68 0.1955
2017-08-09 2016-06-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 8,909,305 3,729,636 72.01 402,879 89.34 0.1914
2017-05-10 2016-03-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 5,179,669 214,458 4.32 212,781 12.33 0.1047
2016-04-18 2015-12-31 13F/A-2 BAXTER INTERNATIONAL COM 071813109 4,965,211 -360,986 -6.78 189,422 8.26 0.0942
2016-03-16 2015-12-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,965,211 0 189,422 0.0950
2016-11-14 2015-09-30 13F/A-2 BAXTER INTERNATIONAL COM 071813109 5,326,197 367,664 7.41 174,966 -49.54 0.0917
2016-08-12 2015-06-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,958,533 291,933 6.26 346,750 8.47 0.1733
2016-05-13 2015-03-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,666,600 521,589 12.58 319,662 5.23 0.1566
2015-03-19 2014-12-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,145,011 129,367 303,788 0.1549
2016-04-18 2014-12-31 13F/A-2 BAXTER INTERNATIONAL COM 071813109 4,145,011 129,367 3.22 303,788 5.41 0.1544
2015-11-12 2014-09-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,015,644 13,532 0.34 288,202 -0.40 0.1561
2015-08-10 2014-06-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,002,112 0 0.00 289,353 -1.74 0.1561
2015-05-12 2014-03-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,002,112 0 0.00 294,475 5.79 0.1662
2014-03-07 2013-12-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,002,112 -373,938 278,347 0.1703
2014-03-20 2013-12-31 13F/A-2 BAXTER INTERNATIONAL COM 071813109 4,002,112 0 278,347 0.1638
2014-05-12 2013-12-31 13F/A-3 BAXTER INTERNATIONAL COM 071813109 4,002,112 -373,938 -8.55 278,347 -3.17 0.1603
2014-11-14 2013-09-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,376,050 -63,733 -1.44 287,463 -6.53 0.1677
2014-08-14 2013-06-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,439,783 11,518 0.26 307,543 -4.39 0.1910
2014-04-04 2013-03-31 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,428,265 89,896 321,670 0.2131
2014-05-12 2013-03-31 13F/A-2 BAXTER INTERNATIONAL COM 071813109 4,428,265 89,896 2.07 321,670 23.04 0.2086
2013-11-14 2012-09-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,338,369 50,896 1.19 261,430 4.21 0.1762
2013-08-15 2012-06-30 13F/A-1 BAXTER INTERNATIONAL COM 071813109 4,287,473 4,287,473 250,860 0.2012
Legend
Shares
The total number of shares held by the institution at the end of the reporting period (the effective date). This is provided in the filing.
Value
The total value of the shares as of the effective date. This is provided in the filing.
Avg. Share Price
The weighted average share price of the shares held by the institution. We use FIFO accounting to determine this price
Class
This is the security class as indicated by the filer. There are a variety of values for this field. Common values include "EC" = equity common, "EP" - equity preferred
Allocation (%)
The percent of the institution's portfolio that this position represents. This is provided in NPORT filings. For 13F filings, we calculate it.
Change in Allocation
The change in allocation from the prior reporting period. This is calculated as current allocation - prior allocation.
Change in Allocation (%)
The percent change in allocation from the prior reporting period. This is calculated as (current allocation - prior allocation) / prior allocation.
Cost Basis
The total cost of the shares held. This is calculated as reported shares * avg. share price
Unrealized Gain/Loss
This is the market value of the position as of the effective date minus the cost basis.