{
 "company": "International Business Machines",
 "ticker": "IBM",
 "page": "https://www.moatshark.com/s/ibm",
 "note": "Source: SEC filings via moatshark. Values and changes are estimates; not investment advice.",
 "holders": [
  {
   "manager": "Kahn Brothers",
   "moatshark_slug": "kahn-brothers",
   "period": "2026-06-30",
   "portfolio_pct": 0.05,
   "value_usd": 345325,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 8
  },
  {
   "manager": "Dodge & Cox",
   "moatshark_slug": "dodge-cox",
   "period": "2026-06-30",
   "portfolio_pct": 0.01,
   "value_usd": 12934254,
   "change": "REDUCE",
   "share_change_pct": -1.3,
   "quarters_held": 53
  },
  {
   "manager": "Horizon Kinetics",
   "moatshark_slug": "horizon-kinetics",
   "period": "2026-06-30",
   "portfolio_pct": 0.01,
   "value_usd": 1003920,
   "change": "REDUCE",
   "share_change_pct": -0.4,
   "quarters_held": 19
  },
  {
   "manager": "Mairs & Power",
   "moatshark_slug": "mairs-power",
   "period": "2026-06-30",
   "portfolio_pct": 0.01,
   "value_usd": 1025573,
   "change": "HOLD",
   "share_change_pct": 0,
   "quarters_held": 8
  },
  {
   "manager": "Matrix Asset Advisors",
   "moatshark_slug": "matrix-asset-advisors",
   "period": "2026-09-30",
   "portfolio_pct": 0,
   "value_usd": 0,
   "change": "EXIT",
   "share_change_pct": null,
   "quarters_held": 1
  }
 ]
}