Generation Investment Management’s IBM IBM Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Shares Change %	Capital Flow	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-854,123	Closed	-$155M	–	31
2014 Q3	$155M	Buy	854,123 +11,636	+1%	+$2.11M	2.42%	19
2014 Q2	$146M	Buy	842,487 +45,822	+6%	+$7.94M	2.34%	21
2014 Q1	$147M	Buy	+796,665	New	+$147M	2.63%	18