Zhang Financial Cuts Stake in IBM by Nearly 40% Amid Rising Demand for Dual-Architecture Mainframes

Zhang Financial LLC cut its holdings in shares of International Business Machines Corporation (NYSE:IBM) by 37.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission.

The fund owned 14,588 shares of the technology company's stock after selling 8,751 shares during the quarter. Zhang Financial LLC's holdings in International Business Machines were worth $4,102,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Orca Wealth Management LLC lifted its stake in International Business Machines by 3.7% in the fourth quarter. Friday Financial grew its position in shares of International Business Machines by 1.9% in the second quarter. First Command Advisory Services Inc. grew its position in shares of International Business Machines by 1.1% in the fourth quarter.

Hedge funds and other institutional investors own 58.96% of the company's stock. IBM's dual-architecture 2-nanometer mainframe processor, designed to run IBM and Arm workloads on the same core, strengthens its infrastructure strategy and could broaden demand among enterprise customers.