International Business Machines Corporation
MX ˙ BMV ˙ US4592001014
SecurityMX:IBM / International Business Machines Corporation
InstitutionGladstone Institutional Advisory LLC
Latest Disclosed Ownership25,909 shares
Latest Disclosed Value $ 6,280,213
Gladstone Institutional Advisory LLC reports 10.33% decrease in ownership of IBM / International Business Machines Corporation

On May 14, 2026 - Gladstone Institutional Advisory LLC filed a 13F-HR form disclosing ownership of 25,909 shares of International Business Machines Corporation (MX:IBM) valued at $6,280,213 USD as of March 31, 2026. The entity filed a previous 13F-HR on February 17, 2026 disclosing 28,895 shares of International Business Machines Corporation. This represents a change in shares of -10.33% during the quarter.

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)
2026-05-14 2026-03-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 25,909 -2,986 -10.33 6,280 -26.63 0.2327
2026-02-17 2025-12-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 28,895 -1,754 -5.72 8,559 -1.02 0.3232
2025-10-22 2025-09-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 30,649 813 2.72 8,648 -1.67 0.3330
2025-08-12 2025-06-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 29,836 -3,822 -11.36 8,795 5.08 0.3633
2025-05-15 2025-03-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 33,658 7,447 28.41 8,369 45.27 0.3901
2025-01-29 2024-12-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 26,211 -215 -0.81 5,762 -1.39 0.2673
2024-10-28 2024-09-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 26,426 -2,681 -9.21 5,842 16.05 0.2852
2024-08-02 2024-06-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 29,107 -1,307 -4.30 5,034 -13.31 0.2622
2024-05-14 2024-03-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 30,414 -15,106 -33.19 5,808 -21.99 0.3187
2024-02-09 2023-12-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 45,520 -765 -1.65 7,445 14.65 0.4176
2023-11-13 2023-09-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 46,285 2,360 5.37 6,494 10.48 0.4205
2023-08-10 2023-06-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 43,925 5,600 14.61 5,878 17.00 0.3583
2023-05-12 2023-03-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 38,325 12,194 46.66 5,024 36.46 0.3253
2023-02-01 2022-12-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 26,131 -7,110 -21.39 3,682 -6.79 0.2598
2023-01-30 2022-09-30 13F/A-1 INTERNATIONAL BUSINESS MACHS COM 459200101 33,241 17,002 104.70 3,949 72.22 0.3087
2022-10-20 2022-09-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 33,241 17,002 3,949 0.3087
2023-01-30 2022-06-30 13F/A-1 INTERNATIONAL BUSINESS MACHS COM 459200101 16,239 -572 -3.40 2,293 4.89 0.1814
2022-08-15 2022-06-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 16,239 -572 2,293 0.1814
2023-01-30 2022-03-31 13F/A-1 INTERNATIONAL BUSINESS MACHS COM 459200101 16,811 -21 -0.12 2,186 -2.84 0.1478
2022-05-04 2022-03-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 16,811 -21 2,186 0.1478
2023-01-30 2021-12-31 13F/A-1 INTERNATIONAL BUSINESS MACHS COM 459200101 16,832 1,186 7.58 2,250 3.50 0.1743
2022-02-11 2021-12-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 16,832 1,186 2,250 0.1743
2023-01-30 2021-09-30 13F/A-1 INTERNATIONAL BUSINESS MACHS COM 459200101 15,646 2,118 15.66 2,174 9.63 0.2123
2021-11-15 2021-09-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 15,646 2,118 2,174 0.2123
2023-01-30 2021-06-30 13F/A-1 INTERNATIONAL BUSINESS MACHS COM 459200101 13,528 463 3.54 1,983 13.90 0.2356
2021-08-13 2021-06-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 13,528 463 1,983 0.2356
2023-01-30 2021-03-31 13F/A-1 INTERNATIONAL BUSINESS MACHS COM 459200101 13,065 10,836 486.14 1,741 519.57 0.2706
2021-05-17 2021-03-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 13,065 10,836 1,741 0.2706
2023-01-30 2020-12-31 13F/A-1 INTERNATIONAL BUSINESS MACHS COM 459200101 2,229 -345 -13.40 281 -10.22 0.0560
2021-02-16 2020-12-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 2,229 -345 281 0.0560
2023-01-30 2020-09-30 13F/A-1 INTERNATIONAL BUSINESS MACHS COM 459200101 2,574 107 4.34 313 5.03 0.0748
2020-11-16 2020-09-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 2,574 107 313 0.0748
2020-08-17 2020-06-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 2,467 -1,678 -40.48 298 -35.22 0.0758
2020-05-14 2020-03-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 4,145 1,093 35.81 460 12.47 0.1187
2020-02-12 2019-12-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 3,052 -514 -14.41 409 -21.19 0.1003
2019-11-13 2019-09-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 3,566 -399 -10.06 519 -5.12 0.1320
2019-08-14 2019-06-30 13F INTERNATIONAL BUSINESS MACHS COM 459200101 3,965 814 25.83 547 22.92 0.1667
2019-05-10 2019-03-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 3,151 -74 -2.29 445 21.25 0.1633
2019-02-13 2018-12-31 13F INTERNATIONAL BUSINESS MACHS COM 459200101 3,225 3,225 367 0.2137
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.