INTERNATIONAL BUSINESS MACHS

Ticker: IBM CUSIP: 459200101 Class: COM

Gladstone Institutional Advisory LLC's Holding History (CIK: 0001766530)

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

Q4 2025

Shares 28,895 Value ($000) $8,559 Avg Close $298.78 Range $262.11 - $324.90

Q3 2025

Shares 30,649 Value ($000) $8,648 Avg Close $259.55 Range $232.08 - $292.01

Q2 2025

Shares 29,836 Value ($000) $8,795 Avg Close $253.82 Range $210.49 - $292.56

Q1 2025

Shares 33,658 Value ($000) $8,369 Avg Close $239.40 Range $209.20 - $261.47

Q4 2024

Shares 26,211 Value ($000) $5,762 Avg Close $216.31 Range $196.83 - $233.32

Q3 2024

Shares 26,426 Value ($000) $5,842 Avg Close $188.97 Range $166.24 - $216.80

Q2 2024

Shares 29,107 Value ($000) $5,034 Avg Close $165.85 Range $154.39 - $183.50

Q1 2024

Shares 30,414 Value ($000) $5,808 Avg Close $172.56 Range $148.54 - $189.10

Q4 2023

Shares 45,520 Value ($000) $7,445 Avg Close $141.50 Range $126.39 - $156.49

Q3 2023

Shares 46,285 Value ($000) $6,494 Avg Close $131.75 Range $120.98 - $141.33

Q2 2023

Shares 43,925 Value ($000) $5,878 Avg Close $118.05 Range $110.47 - $128.27

Q1 2023

Shares 38,325 Value ($000) $5,024 Avg Close $120.73 Range $110.43 - $131.92

Q4 2022

Shares 26,131 Value ($000) $3,682 Avg Close $123.05 Range $102.35 - $137.32

Q3 2022

Shares 33,241 Value ($000) $4 Avg Close $115.64 Range $105.06 - $124.09

Q2 2022

Shares 16,239 Value ($000) $2 Avg Close $117.50 Range $107.95 - $126.60

Q1 2022

Shares 16,811 Value ($000) $2 Avg Close $112.10 Range $102.68 - $121.43

Q4 2021

Shares 16,832 Value ($000) $2 Avg Close $106.49 Range $97.83 - $117.62

Q3 2021

Shares 15,646 Value ($000) $2 Avg Close $112.12 Range $106.97 - $117.48

Q2 2021

Shares 13,528 Value ($000) $2 Avg Close $113.44 Range $102.70 - $121.73

Q1 2021

Shares 13,065 Value ($000) $2 Avg Close $98.07 Range $91.22 - $107.97

Q4 2020

Shares 2,229 Value ($000) $0 Avg Close $93.41 Range $81.15 - $103.82

Q3 2020

Shares 2,574 Value ($000) $0 Avg Close $93.86 Range $87.12 - $99.96

Q2 2020

Shares 2,467 Value ($000) $298 Avg Close $91.40 Range $78.00 - $102.76

Q1 2020

Shares 4,145 Value ($000) $460 Avg Close $98.28 Range $67.58 - $117.24

Q4 2019

Shares 3,052 Value ($000) $409 Avg Close $99.90 Range $95.55 - $107.55

Q3 2019

Shares 3,566 Value ($000) $519 Avg Close $102.47 Range $94.04 - $110.34

Q2 2019

Shares 3,965 Value ($000) $547 Avg Close $98.62 Range $91.51 - $103.66

Q1 2019

Shares 3,151 Value ($000) $445 Avg Close $94.64 Range $78.71 - $101.33

Q4 2018

Shares 3,225 Value ($000) $367 Avg Close $87.95 Range $74.66 - $107.42

Period	Shares	Value ($000)	Average Close	Price Range
Q4 2025	28,895	$8,559	$298.78	$262.11 - $324.90
Q3 2025	30,649	$8,648	$259.55	$232.08 - $292.01
Q2 2025	29,836	$8,795	$253.82	$210.49 - $292.56
Q1 2025	33,658	$8,369	$239.40	$209.20 - $261.47
Q4 2024	26,211	$5,762	$216.31	$196.83 - $233.32
Q3 2024	26,426	$5,842	$188.97	$166.24 - $216.80
Q2 2024	29,107	$5,034	$165.85	$154.39 - $183.50
Q1 2024	30,414	$5,808	$172.56	$148.54 - $189.10
Q4 2023	45,520	$7,445	$141.50	$126.39 - $156.49
Q3 2023	46,285	$6,494	$131.75	$120.98 - $141.33
Q2 2023	43,925	$5,878	$118.05	$110.47 - $128.27
Q1 2023	38,325	$5,024	$120.73	$110.43 - $131.92
Q4 2022	26,131	$3,682	$123.05	$102.35 - $137.32
Q3 2022	33,241	$4	$115.64	$105.06 - $124.09
Q2 2022	16,239	$2	$117.50	$107.95 - $126.60
Q1 2022	16,811	$2	$112.10	$102.68 - $121.43
Q4 2021	16,832	$2	$106.49	$97.83 - $117.62
Q3 2021	15,646	$2	$112.12	$106.97 - $117.48
Q2 2021	13,528	$2	$113.44	$102.70 - $121.73
Q1 2021	13,065	$2	$98.07	$91.22 - $107.97
Q4 2020	2,229	$0	$93.41	$81.15 - $103.82
Q3 2020	2,574	$0	$93.86	$87.12 - $99.96
Q2 2020	2,467	$298	$91.40	$78.00 - $102.76
Q1 2020	4,145	$460	$98.28	$67.58 - $117.24
Q4 2019	3,052	$409	$99.90	$95.55 - $107.55
Q3 2019	3,566	$519	$102.47	$94.04 - $110.34
Q2 2019	3,965	$547	$98.62	$91.51 - $103.66
Q1 2019	3,151	$445	$94.64	$78.71 - $101.33
Q4 2018	3,225	$367	$87.95	$74.66 - $107.42