BXP INC BXP
COM · REIT · CUSIP 101121101 · ISIN US1011211018
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($13.3m this quarter). Holder counts are more reliable. Shares outstanding: 156.9m as of 2023-10-30, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $70.22. Options: 18 managers hold calls ($98.8m notional), 23 hold puts ($100.8m).
Trends to Q4 2023
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 527 |
| Q4 2022 | 518 |
| Q1 2023 | 480 |
| Q2 2023 | 479 |
| Q3 2023 | 500 |
| Q4 2023 | 564 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2022 | 262 | 246 |
| Q1 2023 | 271 | 222 |
| Q2 2023 | 262 | 211 |
| Q3 2023 | 234 | 221 |
| Q4 2023 | 280 | 245 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2023 | $143.0m | $168.7m | 1.18 |
| Q2 2023 | $135.0m | $179.4m | 1.33 |
| Q3 2023 | $87.2m | $154.0m | 1.77 |
| Q4 2023 | $98.8m | $100.8m | 1.02 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +5.4m |
| MORGAN STANLEY | Added | +1.9m |
| CITADEL ADVISORS LLC | Added | +893.3k |
| BlackRock Inc. | Added | +880.9k |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | Added | +468.9k |
| STATE STREET CORP | Added | +390.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +379.1k |
| AXA S.A. | Added | +362.2k |
| Clearbridge Investments, LLC | New | +268.3k |
| AMERIPRISE FINANCIAL INC | Added | +260.9k |
Biggest sellers
| Capital Research Global Investors | Sold out | -6.6m |
| PRINCIPAL FINANCIAL GROUP INC | Reduced | -1.7m |
| NORTHERN TRUST CORP | Reduced | -929.0k |
| Cullen Capital Management, LLC | Sold out | -646.4k |
| BANK OF AMERICA CORP /DE/ | Reduced | -468.0k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Reduced | -306.4k |
| Holocene Advisors, LP | Reduced | -305.6k |
| AMERICAN CENTURY COMPANIES INC | Sold out | -274.6k |
| PRUDENTIAL FINANCIAL INC | Reduced | -240.4k |
| Senvest Management, LLC | Reduced | -201.7k |
Biggest calls
| Twin Tree Management, LP | Added | $43.1m613.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $13.8m197.2k shares |
| CITADEL ADVISORS LLC | Reduced | $11.8m168.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $5.1m72.9k shares |
| PEAK6 Investments LLC | Added | $4.5m64.2k shares |
| IMC-Chicago, LLC | New | $3.8m54.5k shares |
| JANE STREET GROUP, LLC | Reduced | $3.4m48.1k shares |
| Parallax Volatility Advisers, L.P. | Added | $2.8m40.0k shares |
| WOLVERINE TRADING, LLC | Reduced | $2.8m39.9k shares |
| GROUP ONE TRADING LLC | Reduced | $2.1m29.4k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $16.8m240.1k shares |
| SIMPLEX TRADING, LLC | Added | $14.0m199.4k shares |
| CITADEL ADVISORS LLC | Reduced | $13.8m196.4k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $10.8m154.4k shares |
| D. E. Shaw & Co., Inc. | Reduced | $9.2m130.6k shares |
| IMC-Chicago, LLC | New | $6.0m85.2k shares |
| Crawford Fund Management, LLC | First filing | $4.5m64.4k shares |
| WOLVERINE TRADING, LLC | Reduced | $4.4m63.0k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $3.9m55.7k shares |
| JANE STREET GROUP, LLC | Reduced | $3.4m49.1k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| COHEN & STEERS, INC. 13G · institution +1.1 pts · filed 2026-08-14 | 14.3% |
| BlackRock, Inc. 13G · institution filed 2025-10-17 | 10.0% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 8.1% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.2% |
| STATE STREET CORP 13G · institution new · filed 2026-05-12 | 6.2% |
| First Eagle Investment Management, LLC 13G · institution new · filed 2026-05-13 | 6.0% |
Fell to 5% or below in the last year: NORGES BANK (4.1%, 2026-08-12), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q4 2023
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2022 | 0 | — | 1 | $2.5m | — |
| Q2 2022 | 0 | — | 0 | — | — |
| Q3 2022 | 0 | — | 1 | $2.0m | — |
| Q4 2022 | 0 | — | 0 | — | — |
| Q1 2023 | 1 | $529.2k | 0 | — | — |
| Q2 2023 | 1 | $474.1k | 1 | $571.3k | — |
| Q3 2023 | 0 | — | 2 | $4.4m | — |
| Q4 2023 | 0 | — | 0 | — | — |
None reported in Q4 2023.
Holders, Q4 2023
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.04% of their portfolio | 23.4m $1.6bn | Added +62.5k |
| BlackRock Inc. 0.03% of their portfolio | 18.6m $1.3bn | Added +880.9k |
| NORGES BANK 0.16% of their portfolio | 12.7m $890.8m | Unchanged |
| STATE STREET CORP 0.04% of their portfolio | 12.1m $861.5m | Added +390.0k |
| JPMORGAN CHASE & CO 0.04% of their portfolio | 11.7m $823.7m | Added +5.4m |
| APG Asset Management US Inc. 3.20% of their portfolio | 7.4m $522.3m | Unchanged |
| MORGAN STANLEY 0.01% of their portfolio | 4.4m $308.4m | Added +1.9m |
| Allspring Global Investments Holdings, LLC 0.50% of their portfolio | 4.3m $304.3m | Reduced -40.8k |
| First Eagle Investment Management, LLC 0.63% of their portfolio | 3.7m $261.6m | Reduced -17.3k |
| GEODE CAPITAL MANAGEMENT, LLC 0.03% of their portfolio | 3.6m $254.7m | Added +65.7k |
| Senvest Management, LLC 7.65% of their portfolio | 2.8m $198.9m | Reduced -201.7k |
| Legal & General Group Plc 0.05% of their portfolio | 2.3m $160.9m | Added +145.0k |
| DIMENSIONAL FUND ADVISORS LP 0.05% of their portfolio | 2.2m $156.4m | Added +22.1k |
| AMERIPRISE FINANCIAL INC 0.05% of their portfolio | 2.2m $153.2m | Added +260.9k |
| Invesco Ltd. 0.04% of their portfolio | 2.2m $151.4m | Added +241.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 2.1m $144.1m | Added +67.4k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 2.0m $142.9m | Added +209.1k |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC 1.56% of their portfolio | 2.0m $139.4m | Added +468.9k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 2.0m $138.9m | Added +187.3k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 1.9m $129.9m | Reduced -929.0k |
| CITADEL ADVISORS LLC 0.11% of their portfolio | 1.6m $114.0m | Added +893.3k |
| Weiss Multi-Strategy Advisers LLC 2.90% of their portfolio | 1.6m $113.9m | Reduced -51.3k |
| EARNEST PARTNERS LLC 0.57% of their portfolio | 1.6m $113.2m | Added +244.5k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.2m $87.6m | Reduced -110.1k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.2m $81.6m | Reduced -468.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.03% of their portfolio | 1.1m $78.2m | Added +379.1k |
| Nuveen Asset Management, LLC 0.02% of their portfolio | 1.1m $75.6m | Added +76.7k |
| PUTNAM INVESTMENTS LLC 0.09% of their portfolio | 963.4k $67.6m | Reduced -3.4k |
| ALLIANCEBERNSTEIN L.P. 0.02% of their portfolio | 897.6k $63.0m | Added +74.3k |
| SEI INVESTMENTS CO 0.09% of their portfolio | 796.1k $55.9m | Added +179.6k |
| Adelante Capital Management LLC 3.68% of their portfolio | 755.9k $53.0m | Added +27.8k |
| Aberdeen Group plc 0.11% of their portfolio | 713.8k $50.1m | Added +28.9k |
| Heitman Real Estate Securities LLC 2.60% of their portfolio | 686.8k $48.2m | Added +196.4k |
| Divco West Real Estate Services, LLC 41.05% of their portfolio | 680.5k $47.8m | Unchanged |
| DEUTSCHE BANK AG\ 0.02% of their portfolio | 495.2k $34.7m | Added +25.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.03% of their portfolio | 489.5k $34.3m | Added +7.7k |
| STRS OHIO 0.14% of their portfolio | 477.1k $33.5m | Added +43.7k |
| Swiss National Bank 0.02% of their portfolio | 464.5k $32.6m | Reduced -13.3k |
| Amundi 0.01% of their portfolio | 442.7k $31.6m | Added +54.0k |
| Balyasny Asset Management L.P. 0.08% of their portfolio | 422.8k $29.7m | Added +211.3k |
| Retirement Systems of Alabama 0.12% of their portfolio | 410.2k $28.8m | Added +66.7k |
| State of Tennessee, Department of Treasury 0.11% of their portfolio | 403.7k $28.3m | Reduced -75.0k |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.36% of their portfolio | 370.4k $26.0m | Added +256.7k |
| AXA S.A. 0.04% of their portfolio | 366.1k $25.7m | Added +362.2k |
| BARCLAYS PLC 0.01% of their portfolio | 356.8k $25.0m | Added +91.4k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.05% of their portfolio | 354.1k $24.8m | Reduced -306.4k |
| Waterfront Capital Partners, LLC 2.13% of their portfolio | 347.6k $24.4m | Reduced -26.9k |
| Robeco Institutional Asset Management B.V. 0.06% of their portfolio | 344.9k $24.2m | Added +44.4k |
| STOREBRAND ASSET MANAGEMENT AS 0.09% of their portfolio | 339.0k $23.8m | Added +59.6k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 329.3k $23.1m | Reduced -156.4k |
| CREDIT SUISSE AG/ 0.02% of their portfolio | 307.0k $21.5m | Reduced -44.3k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 300.2k $21.1m | Reduced -2.3k |
| California Public Employees Retirement System 0.02% of their portfolio | 299.7k $21.0m | Reduced -19.6k |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 297.8k $21.0m | Added +72.8k |
| CANADA LIFE ASSURANCE Co 0.05% of their portfolio | 297.1k $20.8m | Added +28.2k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 296.9k $20.8m | Added +12.7k |
| Asset Management One Co., Ltd. 0.08% of their portfolio | 289.3k $20.8m | Reduced -241 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.08% of their portfolio | 273.0k $19.2m | Added +2.1k |
| Clearbridge Investments, LLC 0.02% of their portfolio | 268.3k $18.8m | New |
| Swedbank AB 0.03% of their portfolio | 251.4k $17.6m | Added +200 |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 249.3k $17.5m | Added +1.8k |
| Walleye Capital LLC 0.24% of their portfolio | 247.1k $17.3m | Reduced -46.7k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 239.7k $16.8m | Reduced -1.7m |
| ExodusPoint Capital Management, LP 0.21% of their portfolio | 236.5k $16.6m | New |
| BNP PARIBAS FINANCIAL MARKETS 0.03% of their portfolio | 230.5k $16.2m | Added +14.2k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.03% of their portfolio | 221.8k $15.4m | Reduced -56 |
| Uniplan Investment Counsel, Inc. 1.13% of their portfolio | 210.6k $15.2m | Reduced -26.1k |
| Allianz Asset Management GmbH 0.03% of their portfolio | 208.9k $14.7m | Reduced -28.0k |
| NOMURA ASSET MANAGEMENT CO LTD 0.06% of their portfolio | 201.0k $14.1m | Added +3.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 194.8k $13.7m | Added +2.7k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 192.8k $13.5m | Added +10.3k |
| State of New Jersey Common Pension Fund D 0.04% of their portfolio | 190.8k $13.4m | Unchanged |
| MAKENA CAPITAL MANAGEMENT LLC 2.97% of their portfolio | 186.6k $13.1m | Added +67.9k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.03% of their portfolio | 184.7k $13.0m | Added +10.2k |
| GUGGENHEIM CAPITAL LLC 0.09% of their portfolio | 177.7k $12.5m | Added +55.2k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 177.4k $12.8m | Added +56.7k |
| WHITTIER TRUST CO 0.20% of their portfolio | 176.7k $12.4m | Added +137.1k |
| PRUDENTIAL FINANCIAL INC 0.02% of their portfolio | 176.0k $12.0m | Reduced -240.4k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 173.0k $12.1m | Added +104.1k |
| Cinctive Capital Management LP 0.83% of their portfolio | 169.9k $11.9m | New |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.03% of their portfolio | 167.8k $11.8m | Added +63.8k |
| Analyst IMS Investment Management Services Ltd. 0.61% of their portfolio | 167.6k $11.8m | Added +20.4k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 166.0k $11.6m | New |
| Brookfield Corp /ON/ 0.07% of their portfolio | 165.2k $11.6m | Reduced -136.0k |
| Illinois Municipal Retirement Fund 0.19% of their portfolio | 164.0k $11.5m | Reduced -11.2k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.03% of their portfolio | 161.1k $11.3m | Added +4.4k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.04% of their portfolio | 160.7k $11.3m | Added +6.3k |
| NISA INVESTMENT ADVISORS, LLC 0.08% of their portfolio | 159.9k $11.2m | Added +3.7k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 158.6k $11.1m | Added +26.3k |
| Davis Selected Advisers 0.06% of their portfolio | 157.3k $11.0m | Added +450 |
| D. E. Shaw & Co., Inc. 0.02% of their portfolio | 154.2k $10.8m | Added +65.3k |
| CAPITAL FUND MANAGEMENT S.A. 0.13% of their portfolio | 145.6k $10.2m | Added +102.2k |
| CI INVESTMENTS INC. 0.05% of their portfolio | 145.0k $10.2m | Reduced -20.6k |
| AVIVA PLC 0.04% of their portfolio | 144.3k $10.1m | Reduced -48.7k |
| Riverview Capital Advisers, LLC 3.88% of their portfolio | 144.0k $10.1m | Added +65.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 139.9k $9.8m | Added +8.6k |
| CITIGROUP INC 0.01% of their portfolio | 139.6k $9.8m | Added +6.6k |
| Phase 2 Partners, LLC 5.14% of their portfolio | 138.8k $9.7m | Reduced -77.5k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.03% of their portfolio | 131.1k $9.2m | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 130.8k $9.2m | Reduced -17.9k |