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3-Position, should be all ready for an OEM collapsible stock (assuming that's the reason for this question) if you can find one in stock and for a reasonable price. Personally, I went with model 11701 and switched the recoil tube myself after finding one in stock after several weeks of checking.

Chad, Model 11703 and M1014 came with Single Positiion Recoil Tubes. I would verify information by Model#/UPC code before purchase with Benelli Customer Service (301) 283-6981 (option 2) or (800) 264-4962 (option 2), 8 a.m. to 5 p.m. EST, Monday through Friday.