INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

MERITAGE PORTFOLIO MANAGEMENT's Holding History (CIK: 0000881432)

Note: Option positions (PUT/CALL) are excluded.

Q4 2025

Shares 27,262 Value ($000) $8,075 Avg Close $298.78 Range $262.11 - $324.90

Q3 2025

Shares 28,125 Value ($000) $7,936 Avg Close $259.55 Range $232.08 - $292.01

Q2 2025

Shares 31,312 Value ($000) $9,230 Avg Close $253.82 Range $210.49 - $292.56

Q1 2025

Shares 31,722 Value ($000) $7,888 Avg Close $239.40 Range $209.20 - $261.47

Q4 2024

Shares 32,276 Value ($000) $7,095 Avg Close $216.31 Range $196.83 - $233.32

Q3 2024

Shares 37,216 Value ($000) $8 Avg Close $188.97 Range $166.24 - $216.80

Q2 2024

Shares 38,017 Value ($000) $7 Avg Close $165.85 Range $154.39 - $183.50

Q1 2024

Shares 38,677 Value ($000) $7 Avg Close $172.56 Range $148.54 - $189.10

Q4 2023

Shares 40,636 Value ($000) $7 Avg Close $141.50 Range $126.39 - $156.49

Q3 2023

Shares 40,882 Value ($000) $6 Avg Close $131.75 Range $120.98 - $141.33

Q2 2023

Shares 41,593 Value ($000) $6 Avg Close $118.05 Range $110.47 - $128.27

Q1 2023

Shares 7,049 Value ($000) $1 Avg Close $120.73 Range $110.43 - $131.92

Q4 2022

Shares 6,928 Value ($000) $1 Avg Close $123.05 Range $102.35 - $137.32

Q3 2022

Shares 6,716 Value ($000) $798 Avg Close $115.64 Range $105.06 - $124.09

Q2 2022

Shares 6,641 Value ($000) $938 Avg Close $117.50 Range $107.95 - $126.60

Q1 2022

Shares 6,529 Value ($000) $849 Avg Close $112.10 Range $102.68 - $121.43

Q4 2021

Shares 6,524 Value ($000) $872 Avg Close $106.49 Range $97.83 - $117.62

Q3 2021

Shares 6,830 Value ($000) $949 Avg Close $112.12 Range $106.97 - $117.48

Q2 2021

Shares 6,902 Value ($000) $1,012 Avg Close $113.44 Range $102.70 - $121.73

Q1 2021

Shares 6,996 Value ($000) $932 Avg Close $98.07 Range $91.22 - $107.97

Q4 2020

Shares 6,625 Value ($000) $834 Avg Close $93.41 Range $81.15 - $103.82

Q3 2020

Shares 6,373 Value ($000) $775 Avg Close $93.86 Range $87.12 - $99.96

Q2 2020

Shares 27,833 Value ($000) $3,361 Avg Close $91.40 Range $78.00 - $102.76

Q1 2020

Shares 30,829 Value ($000) $3,420 Avg Close $98.28 Range $67.58 - $117.24

Q4 2019

Shares 31,155 Value ($000) $4,176 Avg Close $99.90 Range $95.55 - $107.55

Q3 2019

Shares 30,639 Value ($000) $4,455 Avg Close $102.47 Range $94.04 - $110.34

Q2 2019

Shares 30,147 Value ($000) $4,157 Avg Close $98.62 Range $91.51 - $103.66

Q1 2019

Shares 30,142 Value ($000) $4,253 Avg Close $94.64 Range $78.71 - $101.33

Q4 2018

Shares 30,190 Value ($000) $3,432 Avg Close $87.95 Range $74.66 - $107.42

Q3 2018

Shares 47,855 Value ($000) $7,236 Avg Close $101.25 Range $95.14 - $106.71

Q2 2018

Shares 48,478 Value ($000) $6,772 Avg Close $99.95 Range $94.63 - $110.30

Q1 2018

Shares 52,121 Value ($000) $7,997 Avg Close $107.30 Range $98.32 - $115.38

Q4 2017

Shares 40,583 Value ($000) $6,226 Avg Close $102.11 Range $96.94 - $108.49

Q3 2017

Shares 41,666 Value ($000) $6,045 Avg Close $96.87 Range $92.88 - $103.07

Q2 2017

Shares 33,450 Value ($000) $5,146 Avg Close $103.77 Range $98.95 - $115.36

Q1 2017

Shares 33,873 Value ($000) $5,899 Avg Close $114.39 Range $107.32 - $119.58

Q4 2016

Shares 35,442 Value ($000) $5,883 Avg Close $103.05 Range $95.06 - $110.31

Q3 2016

Shares 36,380 Value ($000) $5,779 Avg Close $101.76 Range $95.61 - $106.13

Q2 2016

Shares 36,190 Value ($000) $5,493 Avg Close $95.13 Range $90.08 - $99.15

Q1 2016

Shares 37,520 Value ($000) $5,682 Avg Close $84.07 Range $73.78 - $96.70

Q4 2015

Shares 35,965 Value ($000) $4,949 Avg Close $87.52 Range $82.31 - $94.87

Q3 2015

Shares 23,227 Value ($000) $3,367 Avg Close $95.35 Range $87.10 - $106.76

Q2 2015

Shares 6,182 Value ($000) $1,005 Avg Close $102.99 Range $96.57 - $107.49

Q1 2015

Shares 6,082 Value ($000) $977 Avg Close $96.47 Range $90.53 - $100.82

Q4 2014

Shares 29,793 Value ($000) $4,780 Avg Close $100.47 Range $91.12 - $114.79

Q3 2014

Shares 31,284 Value ($000) $5,938 Avg Close $114.33 Range $108.62 - $117.41

Q2 2014

Shares 31,629 Value ($000) $5,733 Avg Close $112.28 Range $107.17 - $118.40

Q1 2014

Shares 31,218 Value ($000) $6,009 Avg Close $109.22 Range $101.79 - $116.27

Q4 2013

Shares 30,841 Value ($000) $5,785 Avg Close $106.40 Range $101.46 - $111.01

Q3 2013

Shares 47,901 Value ($000) $8,870 Avg Close $111.55 Range $106.48 - $117.56

Q2 2013

Shares 46,871 Value ($000) $8,958 Avg Close $118.94 Range $109.29 - $125.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	27,262	$8,075	$298.78	$262.11 - $324.90
Q3 2025	28,125	$7,936	$259.55	$232.08 - $292.01
Q2 2025	31,312	$9,230	$253.82	$210.49 - $292.56
Q1 2025	31,722	$7,888	$239.40	$209.20 - $261.47
Q4 2024	32,276	$7,095	$216.31	$196.83 - $233.32
Q3 2024	37,216	$8	$188.97	$166.24 - $216.80
Q2 2024	38,017	$7	$165.85	$154.39 - $183.50
Q1 2024	38,677	$7	$172.56	$148.54 - $189.10
Q4 2023	40,636	$7	$141.50	$126.39 - $156.49
Q3 2023	40,882	$6	$131.75	$120.98 - $141.33
Q2 2023	41,593	$6	$118.05	$110.47 - $128.27
Q1 2023	7,049	$1	$120.73	$110.43 - $131.92
Q4 2022	6,928	$1	$123.05	$102.35 - $137.32
Q3 2022	6,716	$798	$115.64	$105.06 - $124.09
Q2 2022	6,641	$938	$117.50	$107.95 - $126.60
Q1 2022	6,529	$849	$112.10	$102.68 - $121.43
Q4 2021	6,524	$872	$106.49	$97.83 - $117.62
Q3 2021	6,830	$949	$112.12	$106.97 - $117.48
Q2 2021	6,902	$1,012	$113.44	$102.70 - $121.73
Q1 2021	6,996	$932	$98.07	$91.22 - $107.97
Q4 2020	6,625	$834	$93.41	$81.15 - $103.82
Q3 2020	6,373	$775	$93.86	$87.12 - $99.96
Q2 2020	27,833	$3,361	$91.40	$78.00 - $102.76
Q1 2020	30,829	$3,420	$98.28	$67.58 - $117.24
Q4 2019	31,155	$4,176	$99.90	$95.55 - $107.55
Q3 2019	30,639	$4,455	$102.47	$94.04 - $110.34
Q2 2019	30,147	$4,157	$98.62	$91.51 - $103.66
Q1 2019	30,142	$4,253	$94.64	$78.71 - $101.33
Q4 2018	30,190	$3,432	$87.95	$74.66 - $107.42
Q3 2018	47,855	$7,236	$101.25	$95.14 - $106.71
Q2 2018	48,478	$6,772	$99.95	$94.63 - $110.30
Q1 2018	52,121	$7,997	$107.30	$98.32 - $115.38
Q4 2017	40,583	$6,226	$102.11	$96.94 - $108.49
Q3 2017	41,666	$6,045	$96.87	$92.88 - $103.07
Q2 2017	33,450	$5,146	$103.77	$98.95 - $115.36
Q1 2017	33,873	$5,899	$114.39	$107.32 - $119.58
Q4 2016	35,442	$5,883	$103.05	$95.06 - $110.31
Q3 2016	36,380	$5,779	$101.76	$95.61 - $106.13
Q2 2016	36,190	$5,493	$95.13	$90.08 - $99.15
Q1 2016	37,520	$5,682	$84.07	$73.78 - $96.70
Q4 2015	35,965	$4,949	$87.52	$82.31 - $94.87
Q3 2015	23,227	$3,367	$95.35	$87.10 - $106.76
Q2 2015	6,182	$1,005	$102.99	$96.57 - $107.49
Q1 2015	6,082	$977	$96.47	$90.53 - $100.82
Q4 2014	29,793	$4,780	$100.47	$91.12 - $114.79
Q3 2014	31,284	$5,938	$114.33	$108.62 - $117.41
Q2 2014	31,629	$5,733	$112.28	$107.17 - $118.40
Q1 2014	31,218	$6,009	$109.22	$101.79 - $116.27
Q4 2013	30,841	$5,785	$106.40	$101.46 - $111.01
Q3 2013	47,901	$8,870	$111.55	$106.48 - $117.56
Q2 2013	46,871	$8,958	$118.94	$109.29 - $125.13