INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

LVM CAPITAL MANAGEMENT LTD/MI's Holding History (CIK: 0001053054)

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

Q4 2025

Shares 11,520 Value ($000) $3 Avg Close $298.78 Range $262.11 - $324.90

Q3 2025

Shares 11,685 Value ($000) $3 Avg Close $259.55 Range $232.08 - $292.01

Q2 2025

Shares 11,700 Value ($000) $3 Avg Close $253.82 Range $210.49 - $292.56

Q1 2025

Shares 11,700 Value ($000) $3 Avg Close $239.40 Range $209.20 - $261.47

Q4 2024

Shares 11,982 Value ($000) $3 Avg Close $216.31 Range $196.83 - $233.32

Q3 2024

Shares 11,304 Value ($000) $2 Avg Close $188.97 Range $166.24 - $216.80

Q2 2024

Shares 11,304 Value ($000) $2 Avg Close $165.85 Range $154.39 - $183.50

Q1 2024

Shares 11,329 Value ($000) $2 Avg Close $172.56 Range $148.54 - $189.10

Q4 2023

Shares 11,194 Value ($000) $2 Avg Close $141.50 Range $126.39 - $156.49

Q3 2023

Shares 11,709 Value ($000) $2 Avg Close $131.75 Range $120.98 - $141.33

Q2 2023

Shares 13,534 Value ($000) $2 Avg Close $118.05 Range $110.47 - $128.27

Q1 2023

Shares 13,404 Value ($000) $2 Avg Close $120.73 Range $110.43 - $131.92

Q4 2022

Shares 11,942 Value ($000) $2 Avg Close $123.05 Range $102.35 - $137.32

Q3 2022

Shares 11,387 Value ($000) $1,353 Avg Close $115.64 Range $105.06 - $124.09

Q2 2022

Shares 5,617 Value ($000) $793 Avg Close $117.50 Range $107.95 - $126.60

Q1 2022

Shares 3,497 Value ($000) $455 Avg Close $112.10 Range $102.68 - $121.43

Q4 2021

Shares 2,756 Value ($000) $368 Avg Close $106.49 Range $97.83 - $117.62

Q3 2021

Shares 3,120 Value ($000) $433 Avg Close $112.12 Range $106.97 - $117.48

Q2 2021

Shares 2,711 Value ($000) $397 Avg Close $113.44 Range $102.70 - $121.73

Q1 2021

Shares 2,711 Value ($000) $361 Avg Close $98.07 Range $91.22 - $107.97

Q4 2020

Shares 2,311 Value ($000) $291 Avg Close $93.41 Range $81.15 - $103.82

Q3 2020

Shares 2,208 Value ($000) $269 Avg Close $93.86 Range $87.12 - $99.96

Q2 2020

Shares 2,208 Value ($000) $267 Avg Close $91.40 Range $78.00 - $102.76

Q1 2020

Shares 2,208 Value ($000) $245 Avg Close $98.28 Range $67.58 - $117.24

Q4 2019

Shares 2,222 Value ($000) $298 Avg Close $99.90 Range $95.55 - $107.55

Q3 2019

Shares 1,808 Value ($000) $263 Avg Close $102.47 Range $94.04 - $110.34

Q2 2019

Shares 1,808 Value ($000) $249 Avg Close $98.62 Range $91.51 - $103.66

Q1 2019

Shares 2,368 Value ($000) $334 Avg Close $94.64 Range $78.71 - $101.33

Q4 2018

Shares 2,458 Value ($000) $279 Avg Close $87.95 Range $74.66 - $107.42

Q3 2018

Shares 2,508 Value ($000) $379 Avg Close $101.25 Range $95.14 - $106.71

Q2 2018

Shares 2,308 Value ($000) $322 Avg Close $99.95 Range $94.63 - $110.30

Q1 2018

Shares 2,128 Value ($000) $326 Avg Close $107.30 Range $98.32 - $115.38

Q4 2017

Shares 2,728 Value ($000) $419 Avg Close $102.11 Range $96.94 - $108.49

Q3 2017

Shares 2,962 Value ($000) $430 Avg Close $96.87 Range $92.88 - $103.07

Q2 2017

Shares 2,962 Value ($000) $456 Avg Close $103.77 Range $98.95 - $115.36

Q1 2017

Shares 2,995 Value ($000) $522 Avg Close $114.39 Range $107.32 - $119.58

Q4 2016

Shares 2,995 Value ($000) $497 Avg Close $103.05 Range $95.06 - $110.31

Q3 2016

Shares 5,858 Value ($000) $1,062 Avg Close $101.76 Range $95.61 - $106.13

Q2 2016

Shares 3,035 Value ($000) $461 Avg Close $95.13 Range $90.08 - $99.15

Q1 2016

Shares 3,068 Value ($000) $465 Avg Close $84.07 Range $73.78 - $96.70

Q4 2015

Shares 4,103 Value ($000) $565 Avg Close $87.52 Range $82.31 - $94.87

Q3 2015

Shares 4,243 Value ($000) $615 Avg Close $95.35 Range $87.10 - $106.76

Q2 2015

Shares 4,243 Value ($000) $690 Avg Close $102.99 Range $96.57 - $107.49

Q1 2015

Shares 4,323 Value ($000) $694 Avg Close $96.47 Range $90.53 - $100.82

Q4 2014

Shares 4,608 Value ($000) $739 Avg Close $100.47 Range $91.12 - $114.79

Q3 2014

Shares 5,858 Value ($000) $1,112 Avg Close $114.33 Range $108.62 - $117.41

Q2 2014

Shares 5,858 Value ($000) $1,062 Avg Close $112.28 Range $107.17 - $118.40

Q1 2014

Shares 6,033 Value ($000) $1,161 Avg Close $109.22 Range $101.79 - $116.27

Q4 2013

Shares 5,033 Value ($000) $944 Avg Close $106.40 Range $101.46 - $111.01

Q3 2013

Shares 6,033 Value ($000) $1,117 Avg Close $111.55 Range $106.48 - $117.56

Q2 2013

Shares 6,033 Value ($000) $1,153 Avg Close $118.94 Range $109.29 - $125.13

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	11,520	$3	$298.78	$262.11 - $324.90
Q3 2025	11,685	$3	$259.55	$232.08 - $292.01
Q2 2025	11,700	$3	$253.82	$210.49 - $292.56
Q1 2025	11,700	$3	$239.40	$209.20 - $261.47
Q4 2024	11,982	$3	$216.31	$196.83 - $233.32
Q3 2024	11,304	$2	$188.97	$166.24 - $216.80
Q2 2024	11,304	$2	$165.85	$154.39 - $183.50
Q1 2024	11,329	$2	$172.56	$148.54 - $189.10
Q4 2023	11,194	$2	$141.50	$126.39 - $156.49
Q3 2023	11,709	$2	$131.75	$120.98 - $141.33
Q2 2023	13,534	$2	$118.05	$110.47 - $128.27
Q1 2023	13,404	$2	$120.73	$110.43 - $131.92
Q4 2022	11,942	$2	$123.05	$102.35 - $137.32
Q3 2022	11,387	$1,353	$115.64	$105.06 - $124.09
Q2 2022	5,617	$793	$117.50	$107.95 - $126.60
Q1 2022	3,497	$455	$112.10	$102.68 - $121.43
Q4 2021	2,756	$368	$106.49	$97.83 - $117.62
Q3 2021	3,120	$433	$112.12	$106.97 - $117.48
Q2 2021	2,711	$397	$113.44	$102.70 - $121.73
Q1 2021	2,711	$361	$98.07	$91.22 - $107.97
Q4 2020	2,311	$291	$93.41	$81.15 - $103.82
Q3 2020	2,208	$269	$93.86	$87.12 - $99.96
Q2 2020	2,208	$267	$91.40	$78.00 - $102.76
Q1 2020	2,208	$245	$98.28	$67.58 - $117.24
Q4 2019	2,222	$298	$99.90	$95.55 - $107.55
Q3 2019	1,808	$263	$102.47	$94.04 - $110.34
Q2 2019	1,808	$249	$98.62	$91.51 - $103.66
Q1 2019	2,368	$334	$94.64	$78.71 - $101.33
Q4 2018	2,458	$279	$87.95	$74.66 - $107.42
Q3 2018	2,508	$379	$101.25	$95.14 - $106.71
Q2 2018	2,308	$322	$99.95	$94.63 - $110.30
Q1 2018	2,128	$326	$107.30	$98.32 - $115.38
Q4 2017	2,728	$419	$102.11	$96.94 - $108.49
Q3 2017	2,962	$430	$96.87	$92.88 - $103.07
Q2 2017	2,962	$456	$103.77	$98.95 - $115.36
Q1 2017	2,995	$522	$114.39	$107.32 - $119.58
Q4 2016	2,995	$497	$103.05	$95.06 - $110.31
Q3 2016	5,858	$1,062	$101.76	$95.61 - $106.13
Q2 2016	3,035	$461	$95.13	$90.08 - $99.15
Q1 2016	3,068	$465	$84.07	$73.78 - $96.70
Q4 2015	4,103	$565	$87.52	$82.31 - $94.87
Q3 2015	4,243	$615	$95.35	$87.10 - $106.76
Q2 2015	4,243	$690	$102.99	$96.57 - $107.49
Q1 2015	4,323	$694	$96.47	$90.53 - $100.82
Q4 2014	4,608	$739	$100.47	$91.12 - $114.79
Q3 2014	5,858	$1,112	$114.33	$108.62 - $117.41
Q2 2014	5,858	$1,062	$112.28	$107.17 - $118.40
Q1 2014	6,033	$1,161	$109.22	$101.79 - $116.27
Q4 2013	5,033	$944	$106.40	$101.46 - $111.01
Q3 2013	6,033	$1,117	$111.55	$106.48 - $117.56
Q2 2013	6,033	$1,153	$118.94	$109.29 - $125.13