CBRE GROUP INC CBRE
CL A · Common Stock · CUSIP 12504L109 · ISIN US12504L1098
* 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 ($97.1m this quarter). Holder counts are more reliable. Shares outstanding: 306.8m as of 2024-04-30, 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 ≈ $97.15. Options: 15 managers hold calls ($58.6m notional), 18 hold puts ($91.8m).
Trends to Q1 2024
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 700 |
| Q4 2022 | 702 |
| Q1 2023 | 708 |
| Q2 2023 | 705 |
| Q3 2023 | 697 |
| Q4 2023 | 763 |
| Q1 2024 | 796 |
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 | 309 | 342 |
| Q1 2023 | 343 | 311 |
| Q2 2023 | 292 | 373 |
| Q3 2023 | 286 | 348 |
| Q4 2023 | 325 | 344 |
| Q1 2024 | 377 | 337 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2023 | $38.1m | $55.6m | 1.46 |
| Q3 2023 | $45.8m | $52.1m | 1.14 |
| Q4 2023 | $78.7m | $47.3m | 0.60 |
| Q1 2024 | $58.6m | $91.8m | 1.57 |
Biggest buyers
| MORGAN STANLEY | Added | +3.0m |
| MILLENNIUM MANAGEMENT LLC | Added | +2.2m |
| Man Group plc | Added | +1.2m |
| VIKING GLOBAL INVESTORS LP | Added | +759.1k |
| PARNASSUS INVESTMENTS, LLC | Added | +550.6k |
| BANK OF AMERICA CORP /DE/ | Added | +538.9k |
| BlackRock Inc. | Added | +506.6k |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +490.4k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC | New | +448.8k |
| Delta Global Management LP | Added | +395.3k |
Biggest sellers
| FMR LLC | Reduced | -3.0m |
| ValueAct Holdings, L.P. | Reduced | -2.2m |
| Invesco Ltd. | Reduced | -1.4m |
| Robeco Institutional Asset Management B.V. | Reduced | -928.3k |
| HARRIS ASSOCIATES L P | Reduced | -845.5k |
| Balyasny Asset Management L.P. | Sold out | -592.6k |
| MAVERICK CAPITAL LTD | Sold out | -557.2k |
| GOLDMAN SACHS GROUP INC | Reduced | -492.2k |
| Southpoint Capital Advisors LP | Reduced | -380.0k |
| NICHOLAS COMPANY, INC. | Reduced | -378.2k |
Biggest calls
| Twin Tree Management, LP | Unchanged | $19.3m198.4k shares |
| CITADEL ADVISORS LLC | Added | $16.3m168.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $9.4m96.4k shares |
| JANE STREET GROUP, LLC | Added | $3.6m37.5k shares |
| Squarepoint Ops LLC | Reduced | $2.7m27.6k shares |
| PEAK6 Investments LLC | Reduced | $2.2m23.1k shares |
| WOLVERINE TRADING, LLC | Reduced | $1.5m15.1k shares |
| SIMPLEX TRADING, LLC | Reduced | $1.1m11.1k shares |
| Walleye Trading LLC | Reduced | $1.1m10.9k shares |
| TWO SIGMA SECURITIES, LLC | Reduced | $486.2k5.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $23.8m244.6k shares |
| JANE STREET GROUP, LLC | Added | $13.0m134.1k shares |
| Oribel Capital Management, LP | New | $12.7m130.2k shares |
| SIMPLEX TRADING, LLC | Added | $10.6m108.5k shares |
| CITADEL ADVISORS LLC | Added | $9.5m98.1k shares |
| Squarepoint Ops LLC | Added | $7.7m79.0k shares |
| PEAK6 Investments LLC | Reduced | $3.8m39.2k shares |
| WOLVERINE TRADING, LLC | Added | $3.0m31.0k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | New | $2.9m29.7k shares |
| Cubist Systematic Strategies, LLC | Reduced | $1.4m14.6k 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 |
|---|---|
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 8.8% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.4% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q1 2024
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 2022 | 0 | — | 2 | $1.6m | — |
| Q3 2022 | 0 | — | 2 | $432.5k | — |
| Q4 2022 | 0 | — | 1 | $400.4k | — |
| Q1 2023 | 0 | — | 0 | — | — |
| Q2 2023 | 0 | — | 1 | $498.7k | — |
| Q3 2023 | 0 | — | 3 | $376.7m | — |
| Q4 2023 | 0 | — | 1 | $81.4k | $81.4k |
| Q1 2024 | 0 | — | 3 | $6.1m | $315.2k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-03-12 | Giamartino Emma E. Chief Financial Officer | Sold plan | $65.7k704 shares |
| 2024-03-11 | Giamartino Emma E. Chief Financial Officer | Sold plan | $249.4k2.7k shares |
| 2024-02-22 | Durburg John E CEO, Advisory Services | Sold | $2.3m25.0k shares |
| 2024-02-16 | Durburg John E CEO, Advisory Services | Sold | $2.3m25.0k shares |
| 2024-02-16 | Dhandapani Chandra CEO, GWS | Sold | $1.1m11.9k 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 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.09% of their portfolio | 47.2m $4.6bn | Reduced -350.2k |
| BlackRock Inc. 0.06% of their portfolio | 28.5m $2.8bn | Added +506.6k |
| HARRIS ASSOCIATES L P 2.38% of their portfolio | 15.2m $1.5bn | Reduced -845.5k |
| STATE STREET CORP 0.06% of their portfolio | 13.1m $1.3bn | Reduced -267.5k |
| MORGAN STANLEY 0.02% of their portfolio | 8.7m $850.1m | Added +3.0m |
| GENERATION INVESTMENT MANAGEMENT LLP 3.51% of their portfolio | 7.9m $769.0m | Added +209.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.07% of their portfolio | 7.4m $715.9m | Added +69.5k |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 7.0m $679.0m | Reduced -282.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.40% of their portfolio | 6.9m $674.5m | Added +69.2k |
| Allspring Global Investments Holdings, LLC 0.92% of their portfolio | 6.0m $586.7m | Added +165.1k |
| FMR LLC 0.04% of their portfolio | 5.9m $572.9m | Reduced -3.0m |
| Invesco Ltd. 0.12% of their portfolio | 5.5m $536.5m | Reduced -1.4m |
| Cantillon Capital Management LLC 3.13% of their portfolio | 5.1m $497.2m | Reduced -102.7k |
| ALLIANCEBERNSTEIN L.P. 0.17% of their portfolio | 5.0m $486.1m | Added +51.5k |
| WELLINGTON MANAGEMENT GROUP LLP 0.09% of their portfolio | 5.0m $485.8m | Added +490.4k |
| FRANKLIN RESOURCES INC 0.15% of their portfolio | 4.8m $467.6m | Reduced -122.5k |
| BAILLIE GIFFORD & CO 0.35% of their portfolio | 4.7m $453.8m | Reduced -287.0k |
| VIKING GLOBAL INVESTORS LP 1.65% of their portfolio | 4.6m $444.3m | Added +759.1k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 2.39% of their portfolio | 4.2m $406.9m | Reduced -62.0k |
| NORGES BANK 0.06% of their portfolio | 3.7m $362.3m | Reduced -368.9k |
| BANK OF AMERICA CORP /DE/ 0.04% of their portfolio | 3.7m $358.4m | Added +538.9k |
| EARNEST PARTNERS LLC 1.59% of their portfolio | 3.6m $348.4m | Added +239.8k |
| NORTHERN TRUST CORP 0.06% of their portfolio | 3.5m $339.0m | Reduced -352.6k |
| DIMENSIONAL FUND ADVISORS LP 0.08% of their portfolio | 3.2m $308.8m | Reduced -74.8k |
| MILLENNIUM MANAGEMENT LLC 0.22% of their portfolio | 2.7m $263.2m | Added +2.2m |
| Vulcan Value Partners, LLC 3.59% of their portfolio | 2.5m $247.1m | Added +130.9k |
| ValueAct Holdings, L.P. 5.29% of their portfolio | 2.5m $240.3m | Reduced -2.2m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.08% of their portfolio | 2.2m $216.0m | Reduced -32.2k |
| DF DENT & CO INC 2.60% of their portfolio | 2.2m $213.2m | Reduced -46.8k |
| Legal & General Group Plc 0.06% of their portfolio | 2.1m $201.4m | Reduced -60.9k |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 1.9m $186.9m | Reduced -492.2k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 1.9m $180.9m | Reduced -97.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.04% of their portfolio | 1.8m $174.1m | Added +5.0k |
| LONDON CO OF VIRGINIA 0.88% of their portfolio | 1.7m $167.2m | Added +23.0k |
| Swedbank AB 0.23% of their portfolio | 1.7m $162.6m | Added +170.0k |
| PARNASSUS INVESTMENTS, LLC 0.35% of their portfolio | 1.7m $162.5m | Added +550.6k |
| Nuveen Asset Management, LLC 0.05% of their portfolio | 1.6m $160.0m | Added +140.9k |
| COOKE & BIELER LP 1.36% of their portfolio | 1.5m $147.3m | Reduced -55.8k |
| LORD, ABBETT & CO. LLC 0.24% of their portfolio | 1.5m $145.9m | Added +80.7k |
| Man Group plc 0.39% of their portfolio | 1.5m $144.2m | Added +1.2m |
| OMERS ADMINISTRATION Corp 1.63% of their portfolio | 1.5m $142.3m | Unchanged |
| SEI INVESTMENTS CO 0.20% of their portfolio | 1.4m $138.4m | Added +111.7k |
| Findlay Park Partners LLP 1.22% of their portfolio | 1.4m $133.3m | Reduced -24.2k |
| Robeco Institutional Asset Management B.V. 0.28% of their portfolio | 1.3m $129.6m | Reduced -928.3k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.32% of their portfolio | 1.3m $122.8m | Reduced -18.4k |
| Aberdeen Group plc 0.23% of their portfolio | 1.2m $119.5m | Added +54.8k |
| Evercore Wealth Management, LLC 1.83% of their portfolio | 1.2m $116.7m | Reduced -2.5k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.01% of their portfolio | 1.2m $114.7m | Reduced -193.7k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 1.1m $111.2m | Added +31.8k |
| BAMCO INC /NY/ 0.28% of their portfolio | 1.1m $105.6m | Reduced -53.6k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.14% of their portfolio | 1.1m $103.8m | Reduced -22.0k |
| EMINENCE CAPITAL, LP 1.90% of their portfolio | 1.1m $103.5m | Added +91.7k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.11% of their portfolio | 1.0m $101.6m | Reduced -257.6k |
| Gallagher Fiduciary Advisors, LLC 3.48% of their portfolio | 1.0m $98.1m | Reduced -14.2k |
| Mitsubishi UFJ Trust & Banking Corp 0.22% of their portfolio | 1.0m $97.1m | Reduced -151.2k |
| Amundi 0.04% of their portfolio | 995.5k $84.8m | Added +185.8k |
| CITADEL ADVISORS LLC 0.09% of their portfolio | 986.2k $95.9m | Added +335.2k |
| MENORA MIVTACHIM HOLDINGS LTD. 0.71% of their portfolio | 969.5k $94.3m | Reduced -13.9k |
| Swiss National Bank 0.06% of their portfolio | 912.8k $88.8m | Reduced -55.9k |
| JANUS HENDERSON GROUP PLC 0.05% of their portfolio | 870.9k $84.7m | Added +18.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio | 846.7k $82.3m | Reduced -41.5k |
| SAMLYN CAPITAL, LLC 1.41% of their portfolio | 835.6k $81.3m | Added +361.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.05% of their portfolio | 821.7k $79.9m | Reduced -8.4k |
| WELLS FARGO & COMPANY/MN 0.02% of their portfolio | 816.2k $79.4m | Reduced -9.8k |
| Caisse de depot et placement du Quebec 0.19% of their portfolio | 793.3k $77.1m | Reduced -224.5k |
| Southpoint Capital Advisors LP 1.44% of their portfolio | 750.0k $72.9m | Reduced -380.0k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 727.3k $70.7m | Reduced -88.3k |
| CREDIT SUISSE AG/ 0.07% of their portfolio | 723.5k $70.4m | Added +14.7k |
| ARIEL INVESTMENTS, LLC 0.67% of their portfolio | 705.4k $68.6m | Reduced -90.5k |
| Hosking Partners LLP 2.47% of their portfolio | 688.3k $66.9m | Added +50.8k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 683.4k $66.4m | Added +152.9k |
| PZENA INVESTMENT MANAGEMENT LLC 0.22% of their portfolio | 671.4k $65.3m | Reduced -811 |
| NATIXIS ADVISORS, LLC 0.15% of their portfolio | 666.9k $64.8m | Added +75.6k |
| Thrivent Financial for Lutherans 0.13% of their portfolio | 656.3k $63.8m | Added +36.8k |
| BARCLAYS PLC 0.03% of their portfolio | 654.7k $63.7m | Reduced -289.3k |
| Clearbridge Investments, LLC 0.05% of their portfolio | 621.5k $60.4m | Unchanged |
| DANSKE BANK A/S 0.18% of their portfolio | 591.8k $57.5m | First filing |
| RHUMBLINE ADVISERS 0.05% of their portfolio | 575.1k $55.9m | Reduced -14.2k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.11% of their portfolio | 571.7k $55.6m | Added +124.2k |
| Holocene Advisors, LP 0.20% of their portfolio | 569.3k $55.4m | Reduced -178.0k |
| Delta Global Management LP 4.02% of their portfolio | 543.8k $52.9m | Added +395.3k |
| Premier Fund Managers Ltd 2.07% of their portfolio | 540.0k $52.3m | Unchanged |
| California Public Employees Retirement System 0.04% of their portfolio | 534.2k $51.9m | Reduced -22.2k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.06% of their portfolio | 523.4k $50.9m | Added +5.8k |
| National Pension Service 0.06% of their portfolio | 492.6k $47.9m | Added +5.4k |
| TRUIST FINANCIAL CORP 0.07% of their portfolio | 491.3k $47.8m | Reduced -107.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.06% of their portfolio | 486.8k $47.3m | Added +60.0k |
| KBC Group NV 0.15% of their portfolio | 481.4k $46.8m | Reduced -67.2k |
| VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.16% of their portfolio | 448.8k $43.6m | New |
| JENNISON ASSOCIATES LLC 0.03% of their portfolio | 444.5k $43.2m | Added +18.1k |
| UBS Group AG 0.01% of their portfolio | 442.6k $43.0m | Added +37.5k |
| SG Americas Securities, LLC 0.22% of their portfolio | 436.6k $42.5m | Added +295.8k |
| DekaBank Deutsche Girozentrale 0.08% of their portfolio | 425.2k $40.9m | Added +9.2k |
| Assenagon Asset Management S.A. 0.11% of their portfolio | 407.0k $39.6m | Added +354.6k |
| Ensign Peak Advisors, Inc 0.07% of their portfolio | 402.5k $39.1m | Added +10.6k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.10% of their portfolio | 399.3k $38.8m | Added +266.4k |
| NORDEA INVESTMENT MANAGEMENT AB 0.05% of their portfolio | 394.4k $38.6m | Added +372.9k |
| YCG, LLC 3.00% of their portfolio | 390.8k $37.8m | Reduced -12.5k |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.07% of their portfolio | 387.0k $28.2m | Added +34.8k |
| AVIVA PLC 0.12% of their portfolio | 381.5k $37.1m | Reduced -13.8k |