INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

Cambria Investment Management, L.P.'s Holding History (CIK: 0001529389)

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

Q4 2025

Shares 5,464 Value ($000) $1,618 Avg Close $298.78 Range $262.11 - $324.90

Q3 2025

Shares 4,422 Value ($000) $1,248 Avg Close $259.55 Range $232.08 - $292.01

Q2 2025

Shares 790 Value ($000) $233 Avg Close $253.82 Range $210.49 - $292.56

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	5,464	$1,618	$298.78	$262.11 - $324.90
Q3 2025	4,422	$1,248	$259.55	$232.08 - $292.01
Q2 2025	790	$233	$253.82	$210.49 - $292.56