| Filer | Ownership | Change % | Holdings Value | Net Change | Nb Shares | Change % | Reporting Name | Report Period |
|---|---|---|---|---|---|---|---|---|
| PZENA INVESTMENT MANAGEMENT LLC | 14% | +27% | $1,354,250,196 | +$294,443,670 | 70,866,049 | +28% | PZENA INVESTMENT MANAGEMENT LLC | 31 Dec 2025 |
| DODGE & COX | 11% | +11% | $1,306,915,345 | +$132,406,662 | 57,396,370 | +11% | Dodge & Cox | 30 Sep 2025 |
| BlackRock Portfolio Management LLC | 8.7% | +14% | $858,523,267 | +$109,316,003 | 44,925,341 | +15% | BlackRock Portfolio Management LLC | 31 Dec 2025 |
| BlackRock, Inc. | 7.5% | $1,196,489,888 | 38,621,365 | BlackRock, Inc. | 31 Mar 2025 | |||
| FMR LLC | 6.8% | $665,252,925 | 34,811,770 | FMR LLC | 31 Dec 2025 |
As of 31 Dec 2025, 683 institutional investors reported holding 548,075,944 shares of BAXTER INTERNATIONAL INC - COMMON STOCK (BAX). This represents 107% of the company’s total 511,937,795 outstanding shares.
The largest institutional shareholders of BAXTER INTERNATIONAL INC - COMMON STOCK (BAX) together control 89% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.
| Institution | Ownership % | Shares Held | Share Change % | Portfolio % | Holdings Value |
|---|---|---|---|---|---|
| BlackRock, Inc. | 17% | 84,783,925 | +8.9% | 0.03% | $1,620,220,805 |
| PZENA INVESTMENT MANAGEMENT LLC | 14% | 70,046,251 | +22% | 4% | $1,338,583,857 |
| VANGUARD GROUP INC | 12% | 62,635,136 | +0.18% | 0.02% | $1,196,957,448 |
| Dodge & Cox | 11% | 56,999,970 | -0.69% | 0.59% | $1,089,269,427 |
| FMR LLC | 6.8% | 34,811,770 | +139% | 0.03% | $665,252,926 |
| STATE STREET CORP | 4.4% | 22,539,233 | +2.5% | 0.01% | $430,946,250 |
| GEODE CAPITAL MANAGEMENT, LLC | 2.6% | 13,510,205 | +7.8% | 0.02% | $257,174,008 |
| Invesco Ltd. | 2.3% | 11,861,392 | +36% | 0.03% | $226,671,205 |
| GREENHAVEN ASSOCIATES INC | 2.1% | 10,693,223 | +70% | 3.3% | $204,347,492 |
| UBS Group AG | 2.1% | 10,666,458 | +174% | 0.04% | $203,836,012 |
| MORGAN STANLEY | 1.7% | 8,615,885 | +32% | 0.01% | $164,649,610 |
| HARRIS ASSOCIATES L P | 1.6% | 8,445,832 | -0.31% | 0.2% | $161,399,841 |
| STATE FARM MUTUAL AUTOMOBILE INSURANCE CO | 1.2% | 6,225,060 | 0% | 0.09% | $118,960,896 |
| NORGES BANK | 1.2% | 6,191,263 | 0.01% | $118,315,036 | |
| LAZARD ASSET MANAGEMENT LLC | 1.2% | 6,188,011 | +5.4% | 0.2% | $118,252,890 |
| DIMENSIONAL FUND ADVISORS LP | 1.1% | 5,770,845 | +66% | 0.02% | $110,286,928 |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | 1% | 5,311,832 | +5.3% | 0.02% | $101,509,110 |
| EQUITY INVESTMENT CORP | 0.96% | 4,896,701 | +5.1% | 1.9% | $93,575,949 |
| Artisan Partners Limited Partnership | 0.93% | 4,757,942 | -5.1% | 0.14% | $90,924,272 |
| NORTHERN TRUST CORP | 0.91% | 4,673,230 | -0.18% | 0.01% | $89,305,427 |
| LSV ASSET MANAGEMENT | 0.84% | 4,307,693 | -4.7% | 0.18% | $82,320,000 |
| BANK OF AMERICA CORP /DE/ | 0.83% | 4,273,415 | -19% | 0.01% | $81,664,952 |
| Russell Investments Group, Ltd. | 0.67% | 3,410,689 | +36% | 0.07% | $65,215,649 |
| THOMPSON SIEGEL & WALMSLEY LLC | 0.65% | 3,328,202 | +12% | 1.1% | $63,602,000 |
| NORDEA INVESTMENT MANAGEMENT AB | 0.61% | 3,102,781 | -25% | 0.05% | $59,728,534 |
| Period | Reported Shares, Excl. Options | Value, Excl. Options | Value Change | Price (Median) | Investors |
|---|---|---|---|---|---|
| 2025 Q4 | 548,075,944 | $10,473,304,559 | +$770,054,568 | $19.11 | 683 |
| 2025 Q3 | 506,512,915 | $11,532,511,466 | +$134,697,716 | $22.77 | 722 |
| 2025 Q2 | 497,036,519 | $15,052,528,396 | +$267,943,492 | $30.28 | 760 |
| 2025 Q1 | 486,637,101 | $16,653,560,861 | +$261,878,961 | $34.23 | 827 |
| 2024 Q4 | 482,291,985 | $14,068,499,266 | +$412,199,704 | $29.16 | 806 |
| 2024 Q3 | 464,583,503 | $17,635,733,088 | +$405,470,470 | $37.97 | 886 |
| 2024 Q2 | 455,242,148 | $15,233,547,096 | -$63,010,753 | $33.45 | 866 |
| 2024 Q1 | 453,352,864 | $19,370,800,871 | -$174,412,194 | $42.74 | 923 |
| 2023 Q4 | 457,674,884 | $17,700,650,117 | +$213,830,957 | $38.66 | 904 |
| 2023 Q3 | 447,738,798 | $16,893,316,776 | +$163,057,282 | $37.74 | 891 |
| 2023 Q2 | 440,375,445 | $20,047,129,495 | +$59,033,609 | $45.56 | 972 |
| 2023 Q1 | 440,394,656 | $17,872,020,459 | +$30,634,745 | $40.56 | 934 |
| 2022 Q4 | 436,333,590 | $22,218,763,088 | -$39,463,933 | $50.97 | 997 |
| 2022 Q3 | 436,631,808 | $23,562,273,370 | +$170,597,108 | $53.86 | 992 |
| 2022 Q2 | 431,113,659 | $27,712,306,605 | +$84,434,303 | $64.23 | 1,055 |
| 2022 Q1 | 431,718,458 | $33,481,214,571 | +$177,009,455 | $77.54 | 1,129 |
| 2021 Q4 | 428,935,308 | $36,816,569,214 | +$81,660,133 | $85.84 | 1,148 |
| 2021 Q3 | 427,682,477 | $34,402,517,337 | -$116,232,696 | $80.43 | 1,076 |
| 2021 Q2 | 428,984,660 | $34,523,999,005 | -$670,293,389 | $80.50 | 1,095 |
| 2021 Q1 | 435,872,983 | $36,752,241,509 | +$548,742,125 | $84.34 | 1,082 |
| 2020 Q4 | 429,753,082 | $34,472,949,037 | -$82,413,179 | $80.24 | 1,100 |
| 2020 Q3 | 430,613,332 | $34,611,599,265 | -$239,557,150 | $80.42 | 1,082 |
| 2020 Q2 | 432,754,142 | $37,251,677,484 | +$62,952,266 | $86.10 | 1,115 |
| 2020 Q1 | 431,974,147 | $35,085,311,241 | +$537,050,697 | $81.19 | 1,088 |
| 2019 Q4 | 424,590,522 | $35,511,511,434 | -$305,260,279 | $83.62 | 1,129 |
| 2019 Q3 | 428,158,666 | $37,442,055,377 | -$251,675,086 | $87.47 | 1,073 |
| 2019 Q2 | 431,261,379 | $35,321,557,803 | -$207,096,222 | $81.90 | 1,053 |
| 2019 Q1 | 437,932,656 | $35,598,408,543 | -$155,885,587 | $81.31 | 1,071 |
| 2018 Q4 | 441,165,891 | $29,042,841,972 | -$687,552,110 | $65.82 | 1,041 |
| 2018 Q3 | 451,022,843 | $34,752,431,020 | -$160,377,604 | $77.09 | 1,056 |
| 2018 Q2 | 453,788,962 | $33,486,738,604 | +$101,162,019 | $73.84 | 1,062 |
| 2018 Q1 | 452,909,850 | $29,400,280,145 | -$521,946,344 | $65.04 | 1,053 |
| 2017 Q4 | 464,779,148 | $30,002,100,451 | -$255,529,560 | $64.64 | 1,041 |
| 2017 Q3 | 465,240,611 | $29,191,205,042 | +$112,035,764 | $62.75 | 965 |
| 2017 Q2 | 465,063,198 | $28,146,334,900 | +$356,764,547 | $60.54 | 960 |
| 2017 Q1 | 469,825,922 | $24,366,802,837 | +$2,481,626,563 | $51.86 | 939 |
| 2016 Q4 | 467,448,970 | $20,723,412,607 | +$49,768,060 | $44.34 | 915 |
| 2016 Q3 | 464,135,551 | $22,073,790,904 | -$251,086,035 | $47.60 | 888 |
| 2016 Q2 | 463,334,998 | $20,952,022,198 | +$50,114,023 | $45.22 | 884 |
| 2016 Q1 | 463,660,421 | $19,045,359,372 | +$308,828,462 | $41.08 | 903 |
| 2015 Q4 | 462,393,262 | $17,612,206,855 | -$111,525,663 | $38.15 | 882 |
| 2015 Q3 | 459,831,483 | $15,105,416,126 | -$412,941,608 | $32.85 | 871 |
| 2015 Q2 | 435,365,972 | $30,446,512,610 | +$480,357,987 | $69.93 | 997 |
| 2015 Q1 | 440,759,773 | $30,195,789,475 | +$533,933,277 | $68.50 | 1,055 |
| 2014 Q4 | 435,235,127 | $31,895,597,404 | +$613,103,027 | $73.29 | 1,054 |
| 2014 Q3 | 427,423,948 | $30,643,303,162 | -$97,178,055 | $71.77 | 993 |
| 2014 Q2 | 428,787,394 | $30,995,695,135 | -$640,087,958 | $72.30 | 984 |
| 2014 Q1 | 436,331,724 | $32,115,854,422 | +$84,172,195 | $73.58 | 983 |