An apparatus, program product and/or method identify relevant shared entities and/or display shared entities in an instant messaging system. In particular, entities such as files, images, videos, e-mails, links, bookmarks, databases, transcripts of other instant messages, etc. that are shared between users participating in an instant message session may be identified and highlighted to indicate that the shared entities are related to the instant message session. Furthermore, a link to an entity may be sent to a user when the entity is referenced in an instant message of the instant message session. Additionally, a display representation of entities that are shared with a user may be displayed in the user's buddy list to indicate that the shared entity is accessible to the user and whom shared the entity with the user. Furthermore, a transcript may be associated with an entity.