INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

OSBORNE PARTNERS CAPITAL MANAGEMENT, LLC's Holding History (CIK: 0001005607)

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

Q4 2025

Shares 2,892 Value ($000) $857 Avg Close $298.78 Range $262.11 - $324.90

Q3 2025

Shares 3,007 Value ($000) $848 Avg Close $259.55 Range $232.08 - $292.01

Q2 2025

Shares 3,007 Value ($000) $886 Avg Close $253.82 Range $210.49 - $292.56

Q1 2025

Shares 3,446 Value ($000) $857 Avg Close $239.40 Range $209.20 - $261.47

Q4 2024

Shares 4,546 Value ($000) $999 Avg Close $216.31 Range $196.83 - $233.32

Q3 2024

Shares 4,750 Value ($000) $1,050 Avg Close $188.97 Range $166.24 - $216.80

Q2 2024

Shares 4,659 Value ($000) $806 Avg Close $165.85 Range $154.39 - $183.50

Q1 2024

Shares 3,459 Value ($000) $661 Avg Close $172.56 Range $148.54 - $189.10

Q4 2023

Shares 4,084 Value ($000) $668 Avg Close $141.50 Range $126.39 - $156.49

Q3 2023

Shares 4,084 Value ($000) $573 Avg Close $131.75 Range $120.98 - $141.33

Q2 2023

Shares 4,064 Value ($000) $544 Avg Close $118.05 Range $110.47 - $128.27

Q1 2023

Shares 4,756 Value ($000) $623 Avg Close $120.73 Range $110.43 - $131.92

Q4 2022

Shares 4,812 Value ($000) $678 Avg Close $123.05 Range $102.35 - $137.32

Q3 2022

Shares 5,111 Value ($000) $607 Avg Close $115.64 Range $105.06 - $124.09

Q2 2022

Shares 4,812 Value ($000) $679 Avg Close $117.50 Range $107.95 - $126.60

Q1 2022

Shares 4,817 Value ($000) $626 Avg Close $112.10 Range $102.68 - $121.43

Q4 2021

Shares 5,733 Value ($000) $766 Avg Close $106.49 Range $97.83 - $117.62

Q3 2021

Shares 6,144 Value ($000) $854 Avg Close $112.12 Range $106.97 - $117.48

Q2 2021

Shares 6,734 Value ($000) $987 Avg Close $113.44 Range $102.70 - $121.73

Q1 2021

Shares 7,653 Value ($000) $1,020 Avg Close $98.07 Range $91.22 - $107.97

Q4 2020

Shares 32,069 Value ($000) $4,037 Avg Close $93.41 Range $81.15 - $103.82

Q3 2020

Shares 8,069 Value ($000) $982 Avg Close $93.86 Range $87.12 - $99.96

Q2 2020

Shares 7,984 Value ($000) $964 Avg Close $91.40 Range $78.00 - $102.76

Q1 2020

Shares 8,557 Value ($000) $949 Avg Close $98.28 Range $67.58 - $117.24

Q4 2019

Shares 9,291 Value ($000) $1,245 Avg Close $99.90 Range $95.55 - $107.55

Q3 2019

Shares 8,582 Value ($000) $1,248 Avg Close $102.47 Range $94.04 - $110.34

Q2 2019

Shares 8,582 Value ($000) $1,183 Avg Close $98.62 Range $91.51 - $103.66

Q1 2019

Shares 8,982 Value ($000) $1,267 Avg Close $94.64 Range $78.71 - $101.33

Q4 2018

Shares 32,782 Value ($000) $3,726 Avg Close $87.95 Range $74.66 - $107.42

Q3 2018

Shares 32,853 Value ($000) $4,968 Avg Close $101.25 Range $95.14 - $106.71

Q2 2018

Shares 32,280 Value ($000) $4,510 Avg Close $99.95 Range $94.63 - $110.30

Q1 2018

Shares 31,777 Value ($000) $4,876 Avg Close $107.30 Range $98.32 - $115.38

Q4 2017

Shares 31,777 Value ($000) $4,875 Avg Close $102.11 Range $96.94 - $108.49

Q3 2017

Shares 33,777 Value ($000) $4,900 Avg Close $96.87 Range $92.88 - $103.07

Q2 2017

Shares 34,917 Value ($000) $5,371 Avg Close $103.77 Range $98.95 - $115.36

Q1 2017

Shares 34,727 Value ($000) $6,047 Avg Close $114.39 Range $107.32 - $119.58

Q4 2016

Shares 34,787 Value ($000) $5,774 Avg Close $103.05 Range $95.06 - $110.31

Q3 2016

Shares 34,837 Value ($000) $5,534 Avg Close $101.76 Range $95.61 - $106.13

Q2 2016

Shares 34,862 Value ($000) $5,291 Avg Close $95.13 Range $90.08 - $99.15

Q1 2016

Shares 35,126 Value ($000) $5,320 Avg Close $84.07 Range $73.78 - $96.70

Q4 2015

Shares 40,102 Value ($000) $5,519 Avg Close $87.52 Range $82.31 - $94.87

Q3 2015

Shares 39,563 Value ($000) $5,735 Avg Close $95.35 Range $87.10 - $106.76

Q2 2015

Shares 39,827 Value ($000) $6,478 Avg Close $102.99 Range $96.57 - $107.49

Q1 2015

Shares 40,670 Value ($000) $6,528 Avg Close $96.47 Range $90.53 - $100.82

Q4 2014

Shares 40,620 Value ($000) $6,517 Avg Close $100.47 Range $91.12 - $114.79

Q3 2014

Shares 40,620 Value ($000) $7,711 Avg Close $114.33 Range $108.62 - $117.41

Q2 2014

Shares 40,753 Value ($000) $7,387 Avg Close $112.28 Range $107.17 - $118.40

Q1 2014

Shares 44,089 Value ($000) $8,487 Avg Close $109.22 Range $101.79 - $116.27

Q4 2013

Shares 47,492 Value ($000) $8,908 Avg Close $106.40 Range $101.46 - $111.01

Q3 2013

Shares 51,717 Value ($000) $9,577 Avg Close $111.55 Range $106.48 - $117.56

Q2 2013

Shares 51,698 Value ($000) $9,880 Avg Close $118.94 Range $109.29 - $125.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	2,892	$857	$298.78	$262.11 - $324.90
Q3 2025	3,007	$848	$259.55	$232.08 - $292.01
Q2 2025	3,007	$886	$253.82	$210.49 - $292.56
Q1 2025	3,446	$857	$239.40	$209.20 - $261.47
Q4 2024	4,546	$999	$216.31	$196.83 - $233.32
Q3 2024	4,750	$1,050	$188.97	$166.24 - $216.80
Q2 2024	4,659	$806	$165.85	$154.39 - $183.50
Q1 2024	3,459	$661	$172.56	$148.54 - $189.10
Q4 2023	4,084	$668	$141.50	$126.39 - $156.49
Q3 2023	4,084	$573	$131.75	$120.98 - $141.33
Q2 2023	4,064	$544	$118.05	$110.47 - $128.27
Q1 2023	4,756	$623	$120.73	$110.43 - $131.92
Q4 2022	4,812	$678	$123.05	$102.35 - $137.32
Q3 2022	5,111	$607	$115.64	$105.06 - $124.09
Q2 2022	4,812	$679	$117.50	$107.95 - $126.60
Q1 2022	4,817	$626	$112.10	$102.68 - $121.43
Q4 2021	5,733	$766	$106.49	$97.83 - $117.62
Q3 2021	6,144	$854	$112.12	$106.97 - $117.48
Q2 2021	6,734	$987	$113.44	$102.70 - $121.73
Q1 2021	7,653	$1,020	$98.07	$91.22 - $107.97
Q4 2020	32,069	$4,037	$93.41	$81.15 - $103.82
Q3 2020	8,069	$982	$93.86	$87.12 - $99.96
Q2 2020	7,984	$964	$91.40	$78.00 - $102.76
Q1 2020	8,557	$949	$98.28	$67.58 - $117.24
Q4 2019	9,291	$1,245	$99.90	$95.55 - $107.55
Q3 2019	8,582	$1,248	$102.47	$94.04 - $110.34
Q2 2019	8,582	$1,183	$98.62	$91.51 - $103.66
Q1 2019	8,982	$1,267	$94.64	$78.71 - $101.33
Q4 2018	32,782	$3,726	$87.95	$74.66 - $107.42
Q3 2018	32,853	$4,968	$101.25	$95.14 - $106.71
Q2 2018	32,280	$4,510	$99.95	$94.63 - $110.30
Q1 2018	31,777	$4,876	$107.30	$98.32 - $115.38
Q4 2017	31,777	$4,875	$102.11	$96.94 - $108.49
Q3 2017	33,777	$4,900	$96.87	$92.88 - $103.07
Q2 2017	34,917	$5,371	$103.77	$98.95 - $115.36
Q1 2017	34,727	$6,047	$114.39	$107.32 - $119.58
Q4 2016	34,787	$5,774	$103.05	$95.06 - $110.31
Q3 2016	34,837	$5,534	$101.76	$95.61 - $106.13
Q2 2016	34,862	$5,291	$95.13	$90.08 - $99.15
Q1 2016	35,126	$5,320	$84.07	$73.78 - $96.70
Q4 2015	40,102	$5,519	$87.52	$82.31 - $94.87
Q3 2015	39,563	$5,735	$95.35	$87.10 - $106.76
Q2 2015	39,827	$6,478	$102.99	$96.57 - $107.49
Q1 2015	40,670	$6,528	$96.47	$90.53 - $100.82
Q4 2014	40,620	$6,517	$100.47	$91.12 - $114.79
Q3 2014	40,620	$7,711	$114.33	$108.62 - $117.41
Q2 2014	40,753	$7,387	$112.28	$107.17 - $118.40
Q1 2014	44,089	$8,487	$109.22	$101.79 - $116.27
Q4 2013	47,492	$8,908	$106.40	$101.46 - $111.01
Q3 2013	51,717	$9,577	$111.55	$106.48 - $117.56
Q2 2013	51,698	$9,880	$118.94	$109.29 - $125.13