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 ($21.7m this quarter). Holder counts are more reliable. Shares outstanding: 158.3m as of 2025-04-28, 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 ≈ $67.20. Options: 15 managers hold calls ($110.7m notional), 20 hold puts ($96.8m).
Trends to Q1 2025
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 |
| Q1 2024 | 578 |
| Q2 2024 | 569 |
| Q3 2024 | 591 |
| Q4 2024 | 618 |
| Q1 2025 | 608 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 262 | 211 |
| Q3 2023 | 234 | 221 |
| Q4 2023 | 280 | 245 |
| Q1 2024 | 304 | 237 |
| Q2 2024 | 292 | 244 |
| Q3 2024 | 306 | 251 |
| Q4 2024 | 284 | 258 |
| Q1 2025 | 291 | 277 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $148.2m | $96.5m | 0.65 |
| Q3 2024 | $97.6m | $104.4m | 1.07 |
| Q4 2024 | $78.9m | $102.8m | 1.30 |
| Q1 2025 | $110.7m | $96.8m | 0.87 |
Biggest buyers
| Boston Partners | New | +2.6m |
| COHEN & STEERS, INC. | Added | +1.9m |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +1.4m |
| NORTHERN TRUST CORP | Added | +891.3k |
| CITADEL ADVISORS LLC | Added | +820.5k |
| JPMORGAN CHASE & CO | Added | +761.9k |
| Daiwa Securities Group Inc. | Added | +595.5k |
| Brookfield Corp /ON/ | Added | +542.2k |
| Invesco Ltd. | Added | +374.6k |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC | New | +339.7k |
Biggest sellers
| NORGES BANK | Reduced | -2.5m |
| MACKENZIE FINANCIAL CORP | Reduced | -633.3k |
| Resolution Capital Ltd | Sold out | -606.4k |
| Aberdeen Group plc | Reduced | -478.1k |
| BlackRock, Inc. | Reduced | -397.5k |
| FMR LLC | Reduced | -380.8k |
| Allspring Global Investments Holdings, LLC | Reduced | -360.7k |
| ALLIANCEBERNSTEIN L.P. | Reduced | -284.4k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. | Reduced | -255.7k |
| APG Asset Management US Inc. | Reduced | -235.8k |
Biggest calls
| Twin Tree Management, LP | Added | $35.2m523.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $25.4m378.3k shares |
| GROUP ONE TRADING LLC | Added | $8.7m129.3k shares |
| IMC-Chicago, LLC | Added | $7.4m109.5k shares |
| WOLVERINE TRADING, LLC | Added | $6.5m96.4k shares |
| Walleye Trading LLC | Added | $6.2m92.0k shares |
| JANE STREET GROUP, LLC | Added | $6.0m88.6k shares |
| CITADEL ADVISORS LLC | Reduced | $5.1m76.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $4.1m61.6k shares |
| PEAK6 LLC | Added | $2.2m32.2k shares |
Biggest puts
| Caption Management, LLC | Added | $36.5m543.6k shares |
| CITADEL ADVISORS LLC | Reduced | $18.6m277.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $14.9m221.9k shares |
| WOLVERINE TRADING, LLC | Reduced | $4.7m69.1k shares |
| SIMPLEX TRADING, LLC | Reduced | $4.0m59.7k shares |
| IMC-Chicago, LLC | Reduced | $3.4m51.2k shares |
| ROYAL BANK OF CANADA | New | $3.1m45.5k shares |
| D. E. Shaw & Co., Inc. | Added | $2.9m43.2k shares |
| PEAK6 LLC | Added | $2.8m41.8k shares |
| JANE STREET GROUP, LLC | Reduced | $1.3m19.9k 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 Q1 2025
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 |
|---|---|---|---|---|---|
| Q2 2023 | 1 | $474.1k | 1 | $571.3k | — |
| Q3 2023 | 0 | — | 2 | $4.4m | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 1 | $889.1k | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 2 | $2.0m | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 2 | $1.0m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-03-05 | Garesche Donna D EVP, Chief HR Officer | Sold | $145.4k2.1k shares |
| 2025-02-04 | Spann Hilary J. Executive Vice President | Sold | $891.5k12.4k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.03% of their portfolio | 23.5m $1.6bn | Reduced -103.4k |
| BlackRock, Inc. 0.03% of their portfolio | 19.5m $1.3bn | Reduced -397.5k |
| STATE STREET CORP 0.03% of their portfolio | 11.2m $766.5m | Reduced -13.6k |
| NORGES BANK 0.10% of their portfolio | 10.2m $684.0m | Reduced -2.5m |
| APG Asset Management US Inc. 3.70% of their portfolio | 7.2m $483.2m | Reduced -235.8k |
| NORTHERN TRUST CORP 0.04% of their portfolio | 4.2m $280.1m | Added +891.3k |
| Allspring Global Investments Holdings, LLC 0.48% of their portfolio | 4.1m $276.6m | Reduced -360.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.02% of their portfolio | 4.1m $273.7m | Added +147.4k |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 4.0m $266.7m | Added +761.9k |
| First Eagle Investment Management, LLC 0.52% of their portfolio | 3.6m $244.4m | Added +11.6k |
| Invesco Ltd. 0.04% of their portfolio | 3.0m $200.0m | Added +374.6k |
| VOYA INVESTMENT MANAGEMENT LLC 0.11% of their portfolio | 2.9m $196.2m | Added +1.4m |
| MORGAN STANLEY 0.01% of their portfolio | 2.7m $181.2m | Reduced -144.2k |
| EARNEST PARTNERS LLC 0.85% of their portfolio | 2.6m $177.9m | Reduced -45.8k |
| Boston Partners 0.21% of their portfolio | 2.6m $175.1m | New |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC 1.75% of their portfolio | 2.5m $168.9m | Reduced -21.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 2.5m $166.3m | Reduced -104.4k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 2.3m $155.7m | Added +167.6k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 2.2m $150.0m | Reduced -32.5k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 2.2m $147.8m | Added +18.0k |
| Senvest Management, LLC 5.80% of their portfolio | 2.1m $138.6m | Reduced -99.7k |
| Legal & General Group Plc 0.04% of their portfolio | 2.0m $135.8m | Added +5.2k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 2.0m $134.5m | Added +17.4k |
| COHEN & STEERS, INC. 0.24% of their portfolio | 1.9m $130.7m | Added +1.9m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.04% of their portfolio | 1.9m $124.8m | Reduced -107.4k |
| AMERIPRISE FINANCIAL INC 0.03% of their portfolio | 1.5m $101.7m | Added +12.7k |
| Bank of New York Mellon Corp 0.02% of their portfolio | 1.4m $95.3m | Reduced -56.0k |
| SEI INVESTMENTS CO 0.11% of their portfolio | 1.3m $87.7m | Reduced -53.4k |
| GOLDENTREE ASSET MANAGEMENT LP 5.74% of their portfolio | 1.1m $72.9m | Added +312.5k |
| CITADEL ADVISORS LLC 0.07% of their portfolio | 1.0m $69.6m | Added +820.5k |
| Brookfield Corp /ON/ 0.06% of their portfolio | 992.1k $66.7m | Added +542.2k |
| DEUTSCHE BANK AG\ 0.03% of their portfolio | 947.9k $63.7m | Reduced -1.7k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.74% of their portfolio | 944.5k $63.5m | Added +232.3k |
| UBS Group AG 0.01% of their portfolio | 905.3k $60.8m | Added +120.5k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 885.5k $59.9m | Added +151.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio | 794.2k $53.4m | Added +327.9k |
| PRINCIPAL FINANCIAL GROUP INC 0.03% of their portfolio | 757.9k $50.9m | Added +5.1k |
| Amundi 0.02% of their portfolio | 699.5k $43.8m | Added +115.5k |
| Divco West Real Estate Services, LLC 48.63% of their portfolio | 680.5k $45.7m | Unchanged |
| Daiwa Securities Group Inc. 0.19% of their portfolio | 665.9k $44.7m | Added +595.5k |
| Clark Capital Management Group, Inc. 0.32% of their portfolio | 663.9k $44.6m | Added +21.9k |
| BARCLAYS PLC 0.02% of their portfolio | 648.3k $43.6m | Added +69.1k |
| STRS OHIO 0.15% of their portfolio | 521.2k $35.0m | Added +19.3k |
| Aberdeen Group plc 0.06% of their portfolio | 457.9k $30.9m | Reduced -478.1k |
| State of Tennessee, Department of Treasury 0.11% of their portfolio | 438.5k $29.5m | Reduced -12.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 430.5k $28.9m | Added +60.7k |
| Swiss National Bank 0.02% of their portfolio | 423.6k $28.5m | Reduced -200 |
| HSBC HOLDINGS PLC 0.02% of their portfolio | 398.5k $26.8m | Added +7.6k |
| Adelante Capital Management LLC 1.95% of their portfolio | 384.0k $25.8m | Reduced -175.5k |
| Balyasny Asset Management L.P. 0.06% of their portfolio | 377.5k $25.4m | Added +242.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.02% of their portfolio | 375.2k $25.2m | Added +27.2k |
| CANADA LIFE ASSURANCE Co 0.04% of their portfolio | 361.4k $24.3m | Added +25.8k |
| FMR LLC 0.00% of their portfolio | 353.3k $23.7m | Reduced -380.8k |
| LASALLE INVESTMENT MANAGEMENT SECURITIES LLC 1.00% of their portfolio | 339.7k $22.8m | New |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 326.8k $22.0m | Added +37.9k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 321.4k $21.6m | Reduced -284.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.02% of their portfolio | 314.7k $21.1m | First filing |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 312.0k $21.0m | Reduced -94.2k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.04% of their portfolio | 310.2k $20.8m | Reduced -255.7k |
| California Public Employees Retirement System 0.01% of their portfolio | 303.5k $20.4m | Added +2.5k |
| Russell Investments Group, Ltd. 0.03% of their portfolio | 303.1k $20.4m | Added +75.1k |
| STOREBRAND ASSET MANAGEMENT AS 0.06% of their portfolio | 291.1k $19.6m | Reduced -3.2k |
| Asset Management One Co., Ltd. 0.07% of their portfolio | 287.4k $19.3m | Added +2.3k |
| NEUBERGER BERMAN GROUP LLC 0.02% of their portfolio | 278.8k $18.7m | Added +12.2k |
| GRS Advisors, LLC 1.94% of their portfolio | 277.8k $18.7m | New |
| WHITTIER TRUST CO 0.25% of their portfolio | 264.8k $17.8m | Reduced -41.9k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.06% of their portfolio | 256.4k $17.2m | Reduced -7.0k |
| NOMURA ASSET MANAGEMENT CO LTD 0.05% of their portfolio | 248.5k $16.7m | Added +13.5k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.02% of their portfolio | 238.1k $16.0m | Reduced -928 |
| Mitsubishi UFJ Trust & Banking Corp 0.04% of their portfolio | 228.3k $15.3m | Added +5.4k |
| Analyst IMS Investment Management Services Ltd. 0.59% of their portfolio | 226.8k $15.2m | Reduced -75 |
| Nuveen, LLC 0.00% of their portfolio | 219.3k $12.4m | First filing |
| Robeco Institutional Asset Management B.V. 0.03% of their portfolio | 217.0k $14.6m | Added +5.6k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 213.8k $14.4m | Added +31.9k |
| Fisher Asset Management, LLC 0.01% of their portfolio | 210.5k $14.1m | New |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 207.9k $14.0m | Added +611 |
| Davis Selected Advisers 0.08% of their portfolio | 203.4k $13.7m | Added +50.6k |
| AXA S.A. 0.04% of their portfolio | 198.4k $13.3m | Reduced -29.8k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 194.9k $13.1m | Added +74.0k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 191.6k $12.9m | Added +60.3k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.03% of their portfolio | 190.7k $12.8m | Added +1.3k |
| FIRST MANHATTAN CO. LLC. 0.04% of their portfolio | 187.1k $12.8m | Added +56.1k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 186.1k $12.5m | Reduced -35.2k |
| NATIXIS ADVISORS, LLC 0.02% of their portfolio | 185.2k $12.4m | Added +17.3k |
| CITIGROUP INC 0.01% of their portfolio | 184.4k $12.4m | Added +58.5k |
| RENAISSANCE TECHNOLOGIES LLC 0.02% of their portfolio | 176.8k $11.9m | New |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.03% of their portfolio | 173.8k $11.7m | Added +5.3k |
| Lighthouse Investment Partners, LLC 0.47% of their portfolio | 153.9k $10.3m | Added +106.0k |
| ZACKS INVESTMENT MANAGEMENT 0.09% of their portfolio | 151.1k $10.2m | Added +4.3k |
| Caption Management, LLC 0.46% of their portfolio | 150.5k $10.1m | New |
| Riverview Capital Advisers, LLC 3.16% of their portfolio | 149.8k $10.1m | Reduced -1.5k |
| Uniplan Investment Counsel, Inc. 0.95% of their portfolio | 145.9k $9.8m | Reduced -9.4k |
| Employees Retirement System of Texas 0.09% of their portfolio | 142.3k $9.6m | Added +35.0k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 141.5k $9.5m | Reduced -2.0k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.02% of their portfolio | 133.5k $9.0m | Unchanged |
| MACQUARIE GROUP LTD 0.01% of their portfolio | 131.7k $8.8m | Added +6.9k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 130.9k $8.8m | Added +5.1k |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 0.13% of their portfolio | 127.1k $8.5m | Reduced -43.4k |
| AVIVA PLC 0.02% of their portfolio | 126.4k $8.5m | Added +16.0k |
| WHITTIER TRUST CO OF NEVADA INC 0.21% of their portfolio | 125.0k $8.4m | Reduced -19.1k |