Monitor if additional 13F filings confirm a broader sell-off or if the buying managers increase further. The Amundi trim is large but may reflect portfolio rebalancing rather than a fundamental thesis change. Next earnings report will clarify whether the active buyers' conviction is rewarded.
Executive Summary
IBM institutional cluster for Q2 2025 shows three active managers (Dodge & Cox, Franklin Resources, Massachusetts Financial) adding positions totaling $217.9M, while two sellers trimmed, led by Amundi's $377.8M reduction. Net institutional flow is negative ($159.9M sold), but the buying is concentrated among value-oriented managers, suggesting selective conviction.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$159.9M
▲ Buyers (3)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Dodge & Cox | ADD | +41.8% | $14.2M | $5.7M |
| Franklin Resources | ADD | +45.8% | $387.1M | $163.2M |
| Massachusetts Financial Servic | ADD | +36.2% | $128.7M | $49.0M |
▼ Sellers (2)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Matrix | TRIM | -25.6% | $281.0K | -$33.0K |
| Amundi | TRIM | -36.1% | $1.5B | -$377.8M |
Key Facts
- 3 buyers added $217.9M collectively (Franklin Resources +$163.2M, Massachusetts Financial +$49.0M, Dodge & Cox +$5.7M)
- 2 sellers reduced by $377.8M collectively (Amundi -$377.8M, Matrix -$33K)
- Net institutional selling of approximately $159.9M
- All participants are active managers (value/asset manager), no passive index funds in the cluster
- Amundi's 36.1% trim is the dominant sell-side move, representing a large European asset manager reducing exposure
Financial Impact
Net institutional selling of $159.9M, with buyers accumulating $217.9M and sellers reducing $377.8M
Risk Factors
- 13F data is 45 days old; positions may have been unwound or adjusted
- Amundi's large reduction could precede further institutional selling
- Low historical win rate (38% at T+20) on IBM calls suggests caution on overinterpreting the cluster
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-IBM-2025-Q2 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 26, 2026 7w ago | 144 | $229.87 $227.06 | ▼ −1.22% | ▼ −1.45% | — |
Aug 12, 2026 9w ago | Press Release | $235.98 $234.02 | ▲ +0.83% | ▼ −1.07% | — |
Aug 11, 2026 9w ago | 424B5 | $238.42 $239.94 | ▲ +0.64% | ▲ +1.70% | — |
Aug 6, 2026 10w ago | Press Release | $237.28 $234.89 | ▲ +1.01% | ▲ +0.61% | — |
Aug 6, 2026 10w ago | GOVT-CONTRACT | $233.43 $234.71 | ▲ +0.55% | ▼ −0.05% | — |
Jul 22, 2026 12w ago | 8-K | $205.77 $237.04 | ▲ +15.20% | ▲ +12.30% | — |
Jul 21, 2026 12w ago | Press Release | $210.50 $232.67 | ▼ −10.53% | ▼ −7.97% | — |
Jul 20, 2026 12w ago | Press Release | $213.00 $228.85 | ▼ −7.44% | ▼ −3.32% | — |
Jul 14, 2026 13w ago | 8-K | $217.07 $238.42 | ▼ −9.84% | ▼ −7.34% | — |
Jul 8, 2026 14w ago | Press Release | $302.05 $235.92 | ▼ −21.89% | ▼ −25.17% | — |
US Market Status
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