As of the most recent reporting period, the following institutional investors, funds, and major shareholders have reported short positions of International Business Machines: CTC LLC, Goldman Sachs Group Inc., Parallax Volatility Advisers L.P., CMT Capital Markets Trading GmbH, Capital Markets Trading UK LLP, Cubist Systematic Strategies LLC, Nomura Holdings Inc., Twin Tree Management LP, Susquehanna International Group LLP, BNP Paribas Financial Markets, Eisler Capital Management Ltd., PEAK6 LLC, Wolfstich Capital LLC, Jane Street Group LLC, Walleye Trading LLC, Walleye Capital LLC, Groupe la Francaise, Capital Fund Management S.A., Hsbc Holdings PLC, Maven Securities LTD, Arrowpoint Investment Partners Singapore Pte. Ltd., Simplex Trading LLC, JPMorgan Chase & Co., Wolverine Asset Management LLC, Citigroup Inc., XY Capital Ltd, Delta Accumulation LLC, Bank of Nova Scotia, Gladius Capital Management LP, Dauntless Investment Group LLC, LPL Financial LLC, Readystate Asset Management LP, Allianz Asset Management GmbH, Wolfstich Capital LLC, Portman Square Capital LLP, Caas Capital Management LP, Fulcrum Asset Management LLP, SG Americas Securities LLC, IMC Chicago LLC, and CTC LLC. These positions are disclosed in Form 13F filings with the Securities and Exchange Commission.