Encore Global Management LP Invests Heavily in IBM Stock
Encore Global Management LP, a significant institutional investor, has acquired a new stake in International Business Machines Corporation (IBM) worth $2.02 million. The fund purchased 7,200 shares of IBM's stock in the second quarter, according to its latest disclosure with the SEC.
This is not an isolated instance of investment in IBM by institutional investors. In recent quarters, several other funds have also acquired new stakes in the company, including Basepoint Wealth LLC, Portus Wealth Advisors LLC, Harborfront Financial Group LLC, Cornerstone Financial Management LLC, and Hara Capital LLC.
IBM's stock currently holds a 2.0% weightage in Encore Global Management LP's holdings, making it the 23rd largest position for the fund. The institutional investors collectively own around 58.96% of IBM's stock.