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 ($123.4m this quarter). Holder counts are more reliable. Shares outstanding: 300.0m as of 2025-02-11, 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 ≈ $131.23. Options: 21 managers hold calls ($128.9m notional), 24 hold puts ($93.1m).
Trends to Q4 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 |
| Q2 2024 | 783 |
| Q3 2024 | 867 |
| Q4 2024 | 946 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2023 | 343 | 311 |
| Q2 2023 | 292 | 373 |
| Q3 2023 | 286 | 348 |
| Q4 2023 | 325 | 344 |
| Q1 2024 | 377 | 337 |
| Q2 2024 | 402 | 335 |
| Q3 2024 | 448 | 347 |
| Q4 2024 | 446 | 391 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2024 | $58.6m | $91.8m | 1.57 |
| Q2 2024 | $40.4m | $27.9m | 0.69 |
| Q3 2024 | $71.8m | $47.0m | 0.65 |
| Q4 2024 | $128.9m | $93.1m | 0.72 |
Biggest buyers
| Artisan Partners Limited Partnership | Added | +3.0m |
| Alphinity Investment Management Pty Ltd | New | +1.5m |
| MORGAN STANLEY | Added | +1.4m |
| MANNING & NAPIER ADVISORS LLC | New | +1.3m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +1.2m |
| BESSEMER GROUP INC | Added | +1.1m |
| LOS ANGELES CAPITAL MANAGEMENT LLC | Added | +993.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +991.4k |
| GOLDMAN SACHS GROUP INC | Added | +860.4k |
| AMERICAN CENTURY COMPANIES INC | Added | +695.6k |
Biggest sellers
| GENERATION INVESTMENT MANAGEMENT LLP | Reduced | -4.2m |
| JPMORGAN CHASE & CO | Reduced | -3.6m |
| HARRIS ASSOCIATES L P | Reduced | -3.3m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.7m |
| VIKING GLOBAL INVESTORS LP | Sold out | -1.6m |
| BlackRock, Inc. | Reduced | -966.8k |
| Allspring Global Investments Holdings, LLC | Reduced | -909.4k |
| EMINENCE CAPITAL, LP | Sold out | -826.8k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. | Reduced | -790.6k |
| ALLIANCEBERNSTEIN L.P. | Reduced | -670.7k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $30.7m233.5k shares |
| CITADEL ADVISORS LLC | Added | $15.5m117.8k shares |
| Walleye Trading LLC | Added | $14.5m110.8k shares |
| SIMPLEX TRADING, LLC | Added | $14.5m110.6k shares |
| IMC-Chicago, LLC | Added | $10.8m82.5k shares |
| JANE STREET GROUP, LLC | Reduced | $9.2m70.1k shares |
| ADAPT Investment Managers SA | First filing | $6.1m46.7k shares |
| GROUP ONE TRADING LLC | Added | $4.7m35.8k shares |
| GOLDMAN SACHS GROUP INC | Added | $4.7m35.5k shares |
| Caption Management, LLC | Unchanged | $4.5m34.2k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $24.7m188.2k shares |
| Oribel Capital Management, LP | New | $16.3m124.5k shares |
| CITADEL ADVISORS LLC | Added | $11.3m86.4k shares |
| IMC-Chicago, LLC | New | $6.4m49.0k shares |
| ADAPT Investment Managers SA | First filing | $6.1m46.7k shares |
| Cubist Systematic Strategies, LLC | Added | $4.7m35.7k shares |
| CAPITAL FUND MANAGEMENT S.A. | New | $3.2m24.6k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | New | $3.1m23.5k shares |
| Squarepoint Ops LLC | Reduced | $3.0m22.5k shares |
| SIMPLEX TRADING, LLC | Added | $3.0m22.5k 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 Q4 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 |
|---|---|---|---|---|---|
| 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 |
| Q2 2024 | 0 | — | 1 | $886.4k | $886.4k |
| Q3 2024 | 1 | $242.1k | 5 | $3.1m | $1.6m |
| Q4 2024 | 0 | — | 4 | $2.9m | $1.8m |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2024-12-02 | Queenan Daniel G CEO, Real Estate Investments | Sold plan | $1.4m10.0k shares |
| 2024-11-15 | Giamartino Emma E. Chief Financial Officer | Sold plan | $238.4k1.8k shares |
| 2024-11-13 | Kohli Vikramaditya Chief Operating Officer | Sold plan | $142.0k1.0k shares |
| 2024-11-12 | Jenny Christopher T Director | Sold | $1.1m8.4k 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, Q4 2024
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.11% of their portfolio | 48.4m $6.4bn | Added +70.7k |
| BlackRock, Inc. 0.08% of their portfolio | 28.9m $3.8bn | Reduced -966.8k |
| STATE STREET CORP 0.07% of their portfolio | 13.4m $1.8bn | Reduced -81.7k |
| HARRIS ASSOCIATES L P 1.86% of their portfolio | 10.8m $1.4bn | Reduced -3.3m |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 7.9m $1.0bn | Added +245.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.54% of their portfolio | 7.6m $998.0m | Added +177.1k |
| FMR LLC 0.06% of their portfolio | 7.5m $983.0m | Reduced -99.5k |
| Invesco Ltd. 0.15% of their portfolio | 6.0m $789.0m | Reduced -395.5k |
| Allspring Global Investments Holdings, LLC 1.09% of their portfolio | 5.2m $679.1m | Reduced -909.4k |
| Cantillon Capital Management LLC 3.77% of their portfolio | 4.7m $623.4m | Added +25.1k |
| MORGAN STANLEY 0.04% of their portfolio | 4.7m $622.4m | Added +1.4m |
| FRANKLIN RESOURCES INC 0.15% of their portfolio | 4.1m $538.4m | Added +605.4k |
| Artisan Partners Limited Partnership 0.82% of their portfolio | 4.1m $531.7m | Added +3.0m |
| NORGES BANK 0.07% of their portfolio | 3.9m $514.6m | Added +46.6k |
| BAILLIE GIFFORD & CO 0.39% of their portfolio | 3.9m $509.3m | Reduced -563.1k |
| NORTHERN TRUST CORP 0.07% of their portfolio | 3.8m $497.5m | Added +424.7k |
| BANK OF AMERICA CORP /DE/ 0.05% of their portfolio | 3.7m $488.1m | Reduced -210.9k |
| EARNEST PARTNERS LLC 2.17% of their portfolio | 3.7m $485.4m | Added +49.9k |
| DIMENSIONAL FUND ADVISORS LP 0.10% of their portfolio | 3.3m $430.9m | Reduced -20.8k |
| GENERATION INVESTMENT MANAGEMENT LLP 2.19% of their portfolio | 3.2m $419.2m | Reduced -4.2m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.09% of their portfolio | 3.0m $397.2m | Added +295.9k |
| JPMORGAN CHASE & CO 0.03% of their portfolio | 3.0m $392.0m | Reduced -3.6m |
| Robeco Institutional Asset Management B.V. 0.74% of their portfolio | 3.0m $391.8m | Added +338.3k |
| GOLDMAN SACHS GROUP INC 0.07% of their portfolio | 2.6m $342.3m | Added +860.4k |
| LAZARD ASSET MANAGEMENT LLC 0.48% of their portfolio | 2.5m $328.3m | Added +233.8k |
| SEI INVESTMENTS CO 0.38% of their portfolio | 2.3m $299.1m | Added +660.9k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 1.51% of their portfolio | 2.2m $286.2m | Reduced -790.6k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 2.1m $282.0m | Added +991.4k |
| Vulcan Value Partners, LLC 4.46% of their portfolio | 2.0m $266.9m | Added +69.8k |
| DEUTSCHE BANK AG\ 0.10% of their portfolio | 2.0m $265.1m | Added +64.9k |
| Legal & General Group Plc 0.07% of their portfolio | 2.0m $261.2m | Reduced -73.1k |
| ALLIANCEBERNSTEIN L.P. 0.09% of their portfolio | 2.0m $260.9m | Reduced -670.7k |
| PARNASSUS INVESTMENTS, LLC 0.57% of their portfolio | 2.0m $257.8m | Reduced -57.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio | 1.9m $251.7m | Added +40.7k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 1.8m $232.5m | Reduced -17.5k |
| LONDON CO OF VIRGINIA 1.27% of their portfolio | 1.8m $232.2m | Reduced -10.1k |
| Findlay Park Partners LLP 2.29% of their portfolio | 1.8m $230.4m | Reduced -267.4k |
| Nuveen Asset Management, LLC 0.06% of their portfolio | 1.6m $215.8m | Added +65.4k |
| OMERS ADMINISTRATION Corp 1.68% of their portfolio | 1.5m $192.4m | Added +2.2k |
| Alphinity Investment Management Pty Ltd 1.04% of their portfolio | 1.5m $190.7m | New |
| BAMCO INC /NY/ 0.47% of their portfolio | 1.4m $182.6m | Added +91.2k |
| Amundi 0.06% of their portfolio | 1.4m $178.6m | Added +132.6k |
| MANNING & NAPIER ADVISORS LLC 2.01% of their portfolio | 1.3m $176.0m | New |
| CANADA PENSION PLAN INVESTMENT BOARD 0.16% of their portfolio | 1.3m $171.3m | Added +181.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.14% of their portfolio | 1.3m $170.4m | Added +602.7k |
| FIL Ltd 0.15% of their portfolio | 1.2m $162.2m | Added +303.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.05% of their portfolio | 1.2m $161.9m | Added +1.2m |
| Swedbank AB 0.19% of their portfolio | 1.2m $156.9m | Reduced -105.1k |
| DF DENT & CO INC 1.93% of their portfolio | 1.2m $152.2m | Reduced -305.6k |
| AMERICAN CENTURY COMPANIES INC 0.09% of their portfolio | 1.2m $152.0m | Added +695.6k |
| BESSEMER GROUP INC 0.24% of their portfolio | 1.1m $149.7m | Added +1.1m |
| Evercore Wealth Management, LLC 2.17% of their portfolio | 1.1m $144.8m | Reduced -75.7k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.57% of their portfolio | 1.1m $139.2m | Added +993.7k |
| NATIXIS ADVISORS, LLC 0.26% of their portfolio | 1.0m $136.7m | Added +141.8k |
| MENORA MIVTACHIM HOLDINGS LTD. 0.80% of their portfolio | 976.7k $128.2m | Reduced -393.0k |
| AQR CAPITAL MANAGEMENT LLC 0.16% of their portfolio | 942.9k $123.8m | Added +693.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio | 941.2k $123.6m | Added +130.4k |
| VOYA INVESTMENT MANAGEMENT LLC 0.12% of their portfolio | 876.3k $115.1m | Reduced -45.0k |
| Swiss National Bank 0.08% of their portfolio | 865.7k $113.7m | Reduced -45.0k |
| COOKE & BIELER LP 1.09% of their portfolio | 863.7k $113.4m | Reduced -588.6k |
| UBS Group AG 0.03% of their portfolio | 852.3k $111.9m | Added +163.0k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 818.5k $107.5m | Reduced -24.2k |
| Sumitomo Mitsui Trust Group, Inc. 0.07% of their portfolio | 762.9k $100.2m | Reduced -14.1k |
| Mitsubishi UFJ Trust & Banking Corp 0.22% of their portfolio | 727.4k $95.5m | Reduced -37.7k |
| BARCLAYS PLC 0.05% of their portfolio | 719.0k $94.4m | Reduced -131.4k |
| JENNISON ASSOCIATES LLC 0.06% of their portfolio | 716.1k $94.0m | Added +336.4k |
| Man Group plc 0.28% of their portfolio | 712.8k $93.6m | Reduced -614.1k |
| LORD, ABBETT & CO. LLC 0.29% of their portfolio | 701.4k $92.1m | Reduced -39.2k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.16% of their portfolio | 686.0k $90.1m | Reduced -52.9k |
| TEACHER RETIREMENT SYSTEM OF TEXAS 0.31% of their portfolio | 656.4k $86.2m | Added +373.6k |
| Aberdeen Group plc 0.16% of their portfolio | 654.1k $85.8m | Reduced -658.6k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 645.1k $84.7m | Added +214.5k |
| Thrivent Financial for Lutherans 0.16% of their portfolio | 630.6k $82.8m | Reduced -34.4k |
| Caisse de depot et placement du Quebec 0.17% of their portfolio | 626.8k $82.3m | Reduced -259.0k |
| Clearbridge Investments, LLC 0.06% of their portfolio | 580.2k $76.2m | Reduced -2.0k |
| Premier Fund Managers Ltd 2.69% of their portfolio | 580.0k $75.6m | Unchanged |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 570.4k $74.9m | Reduced -1.6k |
| Hosking Partners LLP 2.92% of their portfolio | 569.3k $74.7m | Reduced -11.3k |
| California Public Employees Retirement System 0.05% of their portfolio | 550.0k $72.2m | Reduced -13.6k |
| RHUMBLINE ADVISERS 0.06% of their portfolio | 548.6k $72.0m | Reduced -9.4k |
| JANUS HENDERSON GROUP PLC 0.04% of their portfolio | 546.2k $71.7m | Reduced -107.1k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.09% of their portfolio | 535.2k $70.3m | Added +39.6k |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 534.2k $70.1m | Added +21.0k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.07% of their portfolio | 523.8k $68.2m | Added +68.1k |
| MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio | 510.7k $67.1m | Reduced -1.7m |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.08% of their portfolio | 494.9k $65.0m | Reduced -39.7k |
| BROWN BROTHERS HARRIMAN & CO 0.45% of their portfolio | 487.1k $64.0m | Added +52.0k |
| WELLINGTON MANAGEMENT GROUP LLP 0.01% of their portfolio | 482.8k $63.4m | Reduced -458.5k |
| National Pension Service 0.06% of their portfolio | 478.8k $62.9m | Reduced -54.9k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.06% of their portfolio | 471.8k $62.0m | Added +36.3k |
| Allianz Asset Management GmbH 0.08% of their portfolio | 429.5k $56.4m | Added +215.7k |
| DekaBank Deutsche Girozentrale 0.10% of their portfolio | 416.5k $54.0m | Unchanged |
| AVIVA PLC 0.14% of their portfolio | 406.6k $53.4m | Reduced -18.8k |
| NORDEA INVESTMENT MANAGEMENT AB 0.05% of their portfolio | 396.9k $52.1m | Added +3.6k |
| PZENA INVESTMENT MANAGEMENT LLC 0.18% of their portfolio | 395.4k $51.9m | Reduced -32 |
| M.D. Sass, LLC 3.87% of their portfolio | 385.2k $50.6m | Reduced -85.0k |
| Russell Investments Group, Ltd. 0.07% of their portfolio | 382.5k $50.2m | Added +98.3k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 375.7k $49.3m | Reduced -9.6k |
| Ensign Peak Advisors, Inc 0.09% of their portfolio | 371.3k $48.8m | Reduced -11.3k |
| Applied Finance Capital Management, LLC 2.06% of their portfolio | 361.7k $47.5m | New |