INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST's Holding History (CIK: 0001026720)

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

Q4 2015
Shares 400,000 Value ($000) $55,048 Avg Close $87.52 Range $82.31 - $94.87
Q3 2015
Shares 1,100,000 Value ($000) $159,467 Avg Close $95.35 Range $87.10 - $106.76
Q2 2015
Shares 1,100,000 Value ($000) $178,926 Avg Close $102.99 Range $96.57 - $107.49
Q1 2015
Shares 1,008,500 Value ($000) $161,864 Avg Close $96.47 Range $90.53 - $100.82
Q4 2014
Shares 1,008,500 Value ($000) $161,803 Avg Close $100.47 Range $91.12 - $114.79
Q3 2014
Shares 980,000 Value ($000) $186,033 Avg Close $114.33 Range $108.62 - $117.41
Q2 2014
Shares 900,000 Value ($000) $163,143 Avg Close $112.28 Range $107.17 - $118.40
Q1 2014
Shares 900,000 Value ($000) $173,241 Avg Close $109.22 Range $101.79 - $116.27
Q4 2013
Shares 900,000 Value ($000) $168,813 Avg Close $106.40 Range $101.46 - $111.01
Q3 2013
Shares 850,000 Value ($000) $157,403 Avg Close $111.55 Range $106.48 - $117.56
Q2 2013
Shares 850,000 Value ($000) $162,444 Avg Close $118.94 Range $109.29 - $125.13