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 ($123.9m this quarter). Holder counts are more reliable. Shares outstanding: 298.1m as of 2025-04-21, 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 ≈ $130.70. Options: 21 managers hold calls ($227.0m notional), 14 hold puts ($17.5m).
Trends to Q1 2025
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 |
| Q1 2025 | 990 |
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 | 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 |
| Q1 2025 | 464 | 447 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $40.4m | $27.9m | 0.69 |
| Q3 2024 | $71.8m | $47.0m | 0.65 |
| Q4 2024 | $128.9m | $93.1m | 0.72 |
| Q1 2025 | $227.0m | $17.5m | 0.08 |
Biggest buyers
| Alphinity Investment Management Pty Ltd | Added | +3.8m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +2.7m |
| MORGAN STANLEY | Added | +965.1k |
| Gallagher Fiduciary Advisors, LLC | New | +937.1k |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +936.5k |
| Assenagon Asset Management S.A. | Added | +741.5k |
| JPMORGAN CHASE & CO | Added | +738.7k |
| Balyasny Asset Management L.P. | New | +527.2k |
| UBS Group AG | Added | +455.1k |
| Invesco Ltd. | Added | +397.8k |
Biggest sellers
| GENERATION INVESTMENT MANAGEMENT LLP | Sold out | -3.2m |
| Allspring Global Investments Holdings, LLC | Reduced | -1.9m |
| HARRIS ASSOCIATES L P | Reduced | -1.1m |
| BAILLIE GIFFORD & CO | Reduced | -804.7k |
| LOS ANGELES CAPITAL MANAGEMENT LLC | Reduced | -736.0k |
| GOLDMAN SACHS GROUP INC | Reduced | -695.0k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -685.1k |
| CANADA PENSION PLAN INVESTMENT BOARD | Reduced | -623.5k |
| FRANKLIN RESOURCES INC | Reduced | -590.0k |
| FMR LLC | Reduced | -498.6k |
Biggest calls
| Oribel Capital Management, LP | New | $61.9m473.6k shares |
| BANK OF AMERICA CORP /DE/ | New | $37.7m288.6k shares |
| CITADEL ADVISORS LLC | Added | $19.3m147.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $19.3m147.3k shares |
| SIMPLEX TRADING, LLC | Added | $18.8m143.8k shares |
| JANE STREET GROUP, LLC | Added | $13.5m103.0k shares |
| BOOTHBAY FUND MANAGEMENT, LLC | New | $11.7m89.2k shares |
| GROUP ONE TRADING LLC | Added | $8.3m63.5k shares |
| Caption Management, LLC | Added | $6.5m50.0k shares |
| Walleye Trading LLC | Reduced | $6.2m47.5k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $5.3m40.5k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $4.0m30.7k shares |
| CITADEL ADVISORS LLC | Reduced | $3.5m27.1k shares |
| IMC-Chicago, LLC | Reduced | $1.4m10.6k shares |
| Cubist Systematic Strategies, LLC | Reduced | $889.3k6.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $745.0k5.7k shares |
| Squarepoint Ops LLC | Reduced | $549.3k4.2k shares |
| CAPSTONE INVESTMENT ADVISORS, LLC | Reduced | $497.0k3.8k shares |
| WOLVERINE TRADING, LLC | Reduced | $414.3k3.2k shares |
| GROUP ONE TRADING LLC | Added | $91.5k700 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 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 | 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 |
| Q1 2025 | 0 | — | 2 | $367.0k | $367.0k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-03-17 | Giamartino Emma E. Chief Financial Officer | Sold plan | $251.4k2.0k shares |
| 2025-03-12 | Doellinger Chad J Chief Legal & Admin. Officer | Sold plan | $14.9k116 shares |
| 2025-03-11 | Doellinger Chad J Chief Legal & Admin. Officer | Sold plan | $100.7k797 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 0.11% of their portfolio | 48.1m $6.3bn | Reduced -387.0k |
| BlackRock, Inc. 0.08% of their portfolio | 28.4m $3.7bn | Reduced -457.3k |
| STATE STREET CORP 0.07% of their portfolio | 13.5m $1.8bn | Added +146.0k |
| HARRIS ASSOCIATES L P 2.13% of their portfolio | 9.7m $1.3bn | Reduced -1.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 8.1m $1.1bn | Added +211.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.58% of their portfolio | 8.0m $1.0bn | Added +368.2k |
| FMR LLC 0.06% of their portfolio | 7.0m $914.0m | Reduced -498.6k |
| Invesco Ltd. 0.16% of their portfolio | 6.4m $837.9m | Added +397.8k |
| MORGAN STANLEY 0.05% of their portfolio | 5.7m $746.2m | Added +965.1k |
| Alphinity Investment Management Pty Ltd 4.66% of their portfolio | 5.3m $687.8m | Added +3.8m |
| Cantillon Capital Management LLC 3.90% of their portfolio | 4.6m $602.3m | Reduced -142.6k |
| NORGES BANK 0.07% of their portfolio | 3.9m $516.5m | Added +29.6k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.17% of their portfolio | 3.9m $511.8m | Added +2.7m |
| BANK OF AMERICA CORP /DE/ 0.05% of their portfolio | 3.9m $509.9m | Added +181.2k |
| Artisan Partners Limited Partnership 0.82% of their portfolio | 3.9m $506.9m | Reduced -174.0k |
| NORTHERN TRUST CORP 0.08% of their portfolio | 3.9m $506.2m | Added +80.8k |
| JPMORGAN CHASE & CO 0.04% of their portfolio | 3.7m $487.1m | Added +738.7k |
| EARNEST PARTNERS LLC 2.30% of their portfolio | 3.7m $480.3m | Reduced -24.6k |
| FRANKLIN RESOURCES INC 0.13% of their portfolio | 3.5m $459.1m | Reduced -590.0k |
| Allspring Global Investments Holdings, LLC 0.75% of their portfolio | 3.3m $433.6m | Reduced -1.9m |
| DIMENSIONAL FUND ADVISORS LP 0.10% of their portfolio | 3.1m $407.6m | Reduced -165.1k |
| BAILLIE GIFFORD & CO 0.35% of their portfolio | 3.1m $402.0m | Reduced -804.7k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.10% of their portfolio | 3.0m $395.1m | Reduced -4.3k |
| Robeco Institutional Asset Management B.V. 0.71% of their portfolio | 2.8m $363.2m | Reduced -206.4k |
| LAZARD ASSET MANAGEMENT LLC 0.52% of their portfolio | 2.6m $339.2m | Added +93.2k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 1.76% of their portfolio | 2.5m $326.4m | Added +315.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 2.3m $298.0m | Added +130.9k |
| SEI INVESTMENTS CO 0.36% of their portfolio | 2.2m $283.0m | Reduced -113.7k |
| Legal & General Group Plc 0.07% of their portfolio | 2.0m $264.8m | Added +36.0k |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 1.9m $250.1m | Reduced -695.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio | 1.9m $249.3m | Reduced -11.0k |
| PARNASSUS INVESTMENTS, LLC 0.58% of their portfolio | 1.8m $240.0m | Reduced -128.4k |
| VOYA INVESTMENT MANAGEMENT LLC 0.13% of their portfolio | 1.8m $237.1m | Added +936.5k |
| DEUTSCHE BANK AG\ 0.09% of their portfolio | 1.8m $230.4m | Reduced -257.3k |
| ALLIANCEBERNSTEIN L.P. 0.08% of their portfolio | 1.7m $224.3m | Reduced -272.8k |
| Bank of New York Mellon Corp 0.04% of their portfolio | 1.7m $223.6m | Reduced -60.8k |
| Nuveen, LLC 0.07% of their portfolio | 1.6m $214.3m | First filing |
| Vulcan Value Partners, LLC 3.86% of their portfolio | 1.6m $205.7m | Reduced -460.5k |
| Findlay Park Partners LLP 2.04% of their portfolio | 1.5m $198.4m | Reduced -237.7k |
| OMERS ADMINISTRATION Corp 1.68% of their portfolio | 1.5m $191.6m | Unchanged |
| MANNING & NAPIER ADVISORS LLC 2.27% of their portfolio | 1.4m $184.0m | Added +66.3k |
| BAMCO INC /NY/ 0.52% of their portfolio | 1.4m $178.2m | Reduced -28.0k |
| UBS Group AG 0.04% of their portfolio | 1.3m $171.0m | Added +455.1k |
| LONDON CO OF VIRGINIA 0.95% of their portfolio | 1.3m $167.1m | Reduced -490.7k |
| AQR CAPITAL MANAGEMENT LLC 0.16% of their portfolio | 1.2m $160.2m | Added +302.4k |
| Amundi 0.05% of their portfolio | 1.2m $144.9m | Reduced -205.8k |
| NATIXIS ADVISORS, LLC 0.28% of their portfolio | 1.2m $152.9m | Added +127.8k |
| BESSEMER GROUP INC 0.27% of their portfolio | 1.1m $149.7m | Added +4.0k |
| DF DENT & CO INC 1.91% of their portfolio | 1.1m $143.2m | Reduced -64.0k |
| Assenagon Asset Management S.A. 0.25% of their portfolio | 1.1m $142.6m | Added +741.5k |
| Evercore Wealth Management, LLC 2.22% of their portfolio | 1.1m $138.1m | Reduced -47.0k |
| Gallagher Fiduciary Advisors, LLC 4.03% of their portfolio | 937.1k $122.6m | New |
| FIL Ltd 0.12% of their portfolio | 935.6k $122.4m | Reduced -299.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio | 868.0k $113.5m | Reduced -73.2k |
| Swiss National Bank 0.08% of their portfolio | 863.1k $112.9m | Reduced -2.6k |
| BARCLAYS PLC 0.05% of their portfolio | 862.6k $112.8m | Added +143.6k |
| COOKE & BIELER LP 1.12% of their portfolio | 853.5k $111.6m | Reduced -10.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.09% of their portfolio | 852.0k $111.4m | Reduced -446.0k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 793.5k $103.8m | Reduced -25.0k |
| MENORA MIVTACHIM HOLDINGS LTD. 0.66% of their portfolio | 776.7k $101.6m | Reduced -200.0k |
| Sumitomo Mitsui Trust Group, Inc. 0.07% of their portfolio | 760.2k $99.4m | Reduced -2.7k |
| Caisse de depot et placement du Quebec 0.20% of their portfolio | 740.3k $96.8m | Added +113.4k |
| Allianz Asset Management GmbH 0.13% of their portfolio | 683.8k $89.4m | Added +254.3k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.09% of their portfolio | 681.4k $89.1m | Reduced -623.5k |
| MARSHALL WACE, LLP 0.12% of their portfolio | 672.2k $87.9m | Added +395.6k |
| JENNISON ASSOCIATES LLC 0.06% of their portfolio | 657.1k $85.9m | Reduced -59.0k |
| Mitsubishi UFJ Trust & Banking Corp 0.22% of their portfolio | 642.4k $84.0m | Reduced -85.0k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.16% of their portfolio | 639.8k $83.7m | Reduced -46.2k |
| Thrivent Financial for Lutherans 0.18% of their portfolio | 630.2k $82.4m | Reduced -430 |
| JANUS HENDERSON GROUP PLC 0.04% of their portfolio | 617.4k $79.9m | Added +71.2k |
| Clearbridge Investments, LLC 0.07% of their portfolio | 582.8k $76.2m | Added +2.6k |
| Premier Fund Managers Ltd 2.81% of their portfolio | 580.2k $75.1m | Added +235 |
| RHUMBLINE ADVISERS 0.07% of their portfolio | 571.7k $74.8m | Added +23.1k |
| Hosking Partners LLP 3.11% of their portfolio | 564.0k $73.8m | Reduced -5.4k |
| BROWN BROTHERS HARRIMAN & CO 0.50% of their portfolio | 551.8k $72.2m | Added +64.7k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 551.6k $72.0m | Reduced -18.9k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.07% of their portfolio | 536.2k $69.4m | Added +12.4k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.06% of their portfolio | 534.6k $69.9m | Added +62.9k |
| California Public Employees Retirement System 0.05% of their portfolio | 530.4k $69.4m | Reduced -19.7k |
| Balyasny Asset Management L.P. 0.17% of their portfolio | 527.2k $68.9m | New |
| NEW YORK STATE COMMON RETIREMENT FUND 0.10% of their portfolio | 521.8k $68.2m | Reduced -13.4k |
| National Pension Service 0.06% of their portfolio | 501.0k $65.5m | Added +22.1k |
| LORD, ABBETT & CO. LLC 0.23% of their portfolio | 495.1k $64.8m | Reduced -206.3k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.08% of their portfolio | 490.2k $64.1m | Reduced -4.7k |
| AVIVA PLC 0.15% of their portfolio | 474.4k $62.0m | Added +67.9k |
| AMERICAN CENTURY COMPANIES INC 0.04% of their portfolio | 472.6k $61.8m | Reduced -685.1k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 463.7k $60.6m | Reduced -181.4k |
| TD Asset Management Inc 0.05% of their portfolio | 450.8k $59.0m | Added +158.3k |
| Man Group plc 0.17% of their portfolio | 429.0k $56.1m | Reduced -283.8k |
| DekaBank Deutsche Girozentrale 0.11% of their portfolio | 425.2k $54.2m | Added +8.7k |
| PZENA INVESTMENT MANAGEMENT LLC 0.18% of their portfolio | 403.6k $52.8m | Added +8.2k |
| COMMERCE BANK 0.33% of their portfolio | 389.8k $51.0m | Added +197.6k |
| CITIGROUP INC 0.04% of their portfolio | 387.3k $50.7m | Added +183.1k |
| M.D. Sass, LLC 4.34% of their portfolio | 377.4k $49.4m | Reduced -7.8k |
| Ensign Peak Advisors, Inc 0.09% of their portfolio | 364.6k $47.7m | Reduced -6.7k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 364.6k $47.7m | Reduced -11.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.04% of their portfolio | 360.6k $47.2m | First filing |
| Qube Research & Technologies Ltd 0.07% of their portfolio | 348.9k $45.6m | Added +182.2k |
| NORDEA INVESTMENT MANAGEMENT AB 0.05% of their portfolio | 337.1k $43.8m | Reduced -59.8k |
| STOREBRAND ASSET MANAGEMENT AS 0.14% of their portfolio | 331.6k $43.4m | Reduced -20.9k |