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 ($231.1m this quarter). Holder counts are more reliable. Shares outstanding: 297.6m as of 2025-10-20, 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 ≈ $157.52. Options: 18 managers hold calls ($76.2m notional), 16 hold puts ($43.8m).
Trends to Q3 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 |
| Q2 2025 | 1,015 |
| Q3 2025 | 1,062 |
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 2023 | 325 | 344 |
| Q1 2024 | 377 | 337 |
| Q2 2024 | 402 | 335 |
| Q3 2024 | 448 | 347 |
| Q4 2024 | 446 | 391 |
| Q1 2025 | 464 | 447 |
| Q2 2025 | 471 | 481 |
| Q3 2025 | 520 | 433 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $128.9m | $93.1m | 0.72 |
| Q1 2025 | $227.0m | $17.5m | 0.08 |
| Q2 2025 | $52.6m | $21.6m | 0.41 |
| Q3 2025 | $76.2m | $43.8m | 0.57 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +5.1m |
| FMR LLC | Added | +4.0m |
| VIKING GLOBAL INVESTORS LP | New | +1.2m |
| Invesco Ltd. | Added | +862.7k |
| PRINCIPAL FINANCIAL GROUP INC | Added | +809.8k |
| AGF MANAGEMENT LTD | Added | +726.5k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Added | +532.2k |
| WORLDQUANT MILLENNIUM ADVISORS LLC | Added | +491.3k |
| MORGAN STANLEY | Added | +454.3k |
| CITADEL ADVISORS LLC | Added | +449.8k |
Biggest sellers
| HARRIS ASSOCIATES L P | Reduced | -2.2m |
| Allspring Global Investments Holdings, LLC | Reduced | -1.9m |
| Vulcan Value Partners, LLC | Sold out | -1.5m |
| BESSEMER GROUP INC | Reduced | -1.1m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.0m |
| ROYAL BANK OF CANADA | Reduced | -979.0k |
| Alphinity Investment Management Pty Ltd | Reduced | -717.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -593.1k |
| DIMENSIONAL FUND ADVISORS LP | Reduced | -501.8k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. | Reduced | -497.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $21.5m136.4k shares |
| Vision Capital Corp | New | $16.1m102.0k shares |
| GOLDMAN SACHS GROUP INC | Added | $11.8m75.0k shares |
| Caption Management, LLC | Unchanged | $7.9m50.0k shares |
| CITADEL ADVISORS LLC | Added | $6.0m38.3k shares |
| IMC-Chicago, LLC | Added | $2.5m16.0k shares |
| JANE STREET GROUP, LLC | Reduced | $2.2m13.9k shares |
| JPMORGAN CHASE & CO | New | $2.0m12.6k shares |
| WOLVERINE TRADING, LLC | Added | $1.5m9.5k shares |
| Walleye Trading LLC | Added | $1.5m9.5k shares |
Biggest puts
| JANE STREET GROUP, LLC | Added | $11.8m74.9k shares |
| JPMORGAN CHASE & CO | New | $6.3m40.0k shares |
| PEAK6 LLC | New | $4.8m30.2k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $4.5m28.3k shares |
| Caption Management, LLC | Added | $3.9m25.0k shares |
| CITADEL ADVISORS LLC | Added | $3.0m19.1k shares |
| Squarepoint Ops LLC | Reduced | $2.2m14.0k shares |
| WOLVERINE TRADING, LLC | Added | $1.8m11.5k shares |
| Balyasny Asset Management L.P. | New | $1.7m10.7k shares |
| GROUP ONE TRADING LLC | New | $1.6m10.2k 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 Q3 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 |
|---|---|---|---|---|---|
| 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 |
| Q2 2025 | 0 | — | 3 | $814.1k | $814.1k |
| Q3 2025 | 0 | — | 3 | $857.6k | $857.6k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-08-13 | Giamartino Emma E. Chief Financial Officer | Sold plan | $315.2k2.0k shares |
| 2025-08-11 | Kohli Vikramaditya COO & CEO, Advisory Services | Sold plan | $154.9k1.0k shares |
| 2025-07-29 | Caplan Lindsey S Chief Accounting Officer | Sold plan | $232.1k1.5k shares |
| 2025-07-29 | Caplan Lindsey S Chief Accounting Officer | Sold plan | $155.4k1.0k 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, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.11% of their portfolio | 47.7m $7.5bn | Reduced -87.1k |
| BlackRock, Inc. 0.08% of their portfolio | 27.6m $4.3bn | Reduced -334.7k |
| STATE STREET CORP 0.08% of their portfolio | 13.8m $2.2bn | Added +105.6k |
| PRINCIPAL FINANCIAL GROUP INC 0.75% of their portfolio | 9.5m $1.5bn | Added +809.8k |
| FMR LLC 0.07% of their portfolio | 8.5m $1.3bn | Added +4.0m |
| GEODE CAPITAL MANAGEMENT, LLC 0.08% of their portfolio | 8.3m $1.3bn | Added +74.7k |
| JPMORGAN CHASE & CO 0.04% of their portfolio | 7.9m $1.2bn | Added +5.1m |
| HARRIS ASSOCIATES L P 1.74% of their portfolio | 6.9m $1.1bn | Reduced -2.2m |
| MORGAN STANLEY 0.06% of their portfolio | 6.3m $990.7m | Added +454.3k |
| Invesco Ltd. 0.15% of their portfolio | 6.2m $981.8m | Added +862.7k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.22% of their portfolio | 4.5m $704.6m | Added +532.2k |
| Cantillon Capital Management LLC 3.84% of their portfolio | 4.4m $697.5m | Reduced -48.8k |
| Artisan Partners Limited Partnership 0.91% of their portfolio | 4.0m $633.7m | Added +324.0k |
| BANK OF AMERICA CORP /DE/ 0.04% of their portfolio | 3.8m $598.7m | Reduced -53.7k |
| NORTHERN TRUST CORP 0.07% of their portfolio | 3.7m $584.7m | Reduced -73.6k |
| EARNEST PARTNERS LLC 2.42% of their portfolio | 3.5m $557.1m | Reduced -6.5k |
| Alphinity Investment Management Pty Ltd 4.58% of their portfolio | 3.0m $469.0m | Reduced -717.1k |
| FRANKLIN RESOURCES INC 0.11% of their portfolio | 2.9m $454.6m | Added +101.4k |
| BAILLIE GIFFORD & CO 0.33% of their portfolio | 2.8m $446.1m | Reduced -166.0k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.09% of their portfolio | 2.7m $432.2m | Reduced -593.1k |
| DIMENSIONAL FUND ADVISORS LP 0.09% of their portfolio | 2.7m $422.9m | Reduced -501.8k |
| LAZARD ASSET MANAGEMENT LLC 0.56% of their portfolio | 2.6m $413.5m | Reduced -123.8k |
| Robeco Institutional Asset Management B.V. 0.56% of their portfolio | 2.4m $384.1m | Added +38.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 2.4m $377.3m | Reduced -207.1k |
| GOLDMAN SACHS GROUP INC 0.05% of their portfolio | 2.3m $368.9m | Added +444.6k |
| SEI INVESTMENTS CO 0.37% of their portfolio | 2.2m $342.1m | Added +5.6k |
| Legal & General Group Plc 0.07% of their portfolio | 2.1m $334.2m | Added +53.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.05% of their portfolio | 1.9m $298.4m | Reduced -5.3k |
| PARNASSUS INVESTMENTS, LLC 0.65% of their portfolio | 1.8m $282.9m | Added +6.0k |
| Allspring Global Investments Holdings, LLC 0.45% of their portfolio | 1.8m $277.4m | Reduced -1.9m |
| DEUTSCHE BANK AG\ 0.09% of their portfolio | 1.8m $278.9m | Added +1.3k |
| Nuveen, LLC 0.07% of their portfolio | 1.8m $276.9m | Reduced -28.9k |
| FARALLON CAPITAL MANAGEMENT, L.L.C. 1.44% of their portfolio | 1.6m $254.6m | Reduced -497.1k |
| Bank of New York Mellon Corp 0.05% of their portfolio | 1.6m $254.3m | Added +48.7k |
| UBS Group AG 0.05% of their portfolio | 1.5m $241.3m | Added +104.6k |
| Qube Research & Technologies Ltd 0.33% of their portfolio | 1.5m $233.3m | Added +397.4k |
| ALLIANCEBERNSTEIN L.P. 0.07% of their portfolio | 1.5m $233.2m | Reduced -239.7k |
| BAMCO INC /NY/ 0.57% of their portfolio | 1.4m $214.8m | Reduced -38.8k |
| NATIXIS ADVISORS, LLC 0.30% of their portfolio | 1.3m $203.1m | Added +60.5k |
| Amundi 0.06% of their portfolio | 1.3m $194.6m | Added +189.4k |
| VIKING GLOBAL INVESTORS LP 0.50% of their portfolio | 1.2m $190.6m | New |
| Swedbank AB 0.19% of their portfolio | 1.2m $187.5m | Added +9.4k |
| LONDON CO OF VIRGINIA 1.02% of their portfolio | 1.2m $184.3m | Reduced -57.2k |
| VOYA INVESTMENT MANAGEMENT LLC 0.18% of their portfolio | 1.2m $184.1m | Added +204.8k |
| Evercore Wealth Management, LLC 2.37% of their portfolio | 1.0m $161.2m | Reduced -15.1k |
| MILLENNIUM MANAGEMENT LLC 0.12% of their portfolio | 944.9k $148.9m | Reduced -1.0m |
| FIL Ltd 0.12% of their portfolio | 930.8k $146.7m | Reduced -23.3k |
| DF DENT & CO INC 1.87% of their portfolio | 919.2k $144.8m | Reduced -166.3k |
| Gallagher Fiduciary Advisors, LLC 5.30% of their portfolio | 915.1k $144.2m | Reduced -16.1k |
| MANNING & NAPIER ADVISORS LLC 1.80% of their portfolio | 887.8k $141.1m | Reduced -189.2k |
| Assenagon Asset Management S.A. 0.20% of their portfolio | 874.8k $137.8m | Reduced -360.5k |
| Swiss National Bank 0.08% of their portfolio | 859.3k $135.4m | Reduced -48.4k |
| WELLS FARGO & COMPANY/MN 0.03% of their portfolio | 851.1k $134.1m | Added +27.3k |
| ENVESTNET ASSET MANAGEMENT INC 0.04% of their portfolio | 844.6k $133.1m | Added +19.5k |
| Caisse de depot et placement du Quebec 0.23% of their portfolio | 815.7k $128.5m | Reduced -341.9k |
| Sumitomo Mitsui Trust Group, Inc. 0.07% of their portfolio | 786.4k $123.9m | Added +73.9k |
| ATALANTA SOSNOFF CAPITAL, LLC 2.36% of their portfolio | 782.1k $123.2m | Added +291.8k |
| MENORA MIVTACHIM HOLDINGS LTD. 0.62% of their portfolio | 776.7k $122.4m | Unchanged |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 762.0k $120.1m | Reduced -979.0k |
| BARCLAYS PLC 0.04% of their portfolio | 741.4k $116.8m | Reduced -74.7k |
| AGF MANAGEMENT LTD 0.51% of their portfolio | 737.9k $116.3m | Added +726.5k |
| AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio | 723.6k $114.0m | Added +133.3k |
| HSBC HOLDINGS PLC 0.06% of their portfolio | 694.9k $109.3m | Added +134.2k |
| OMERS ADMINISTRATION Corp 0.75% of their portfolio | 668.0k $105.3m | Reduced -288.8k |
| WORLDQUANT MILLENNIUM ADVISORS LLC 0.45% of their portfolio | 664.9k $104.8m | Added +491.3k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.07% of their portfolio | 655.9k $103.3m | Reduced -36.4k |
| COOKE & BIELER LP 1.05% of their portfolio | 645.9k $101.8m | Reduced -389.1k |
| Thrivent Financial for Lutherans 0.20% of their portfolio | 632.0k $99.6m | Added +70.7k |
| Findlay Park Partners LLP 1.03% of their portfolio | 622.5k $98.1m | Reduced -431.7k |
| BROWN BROTHERS HARRIMAN & CO 0.57% of their portfolio | 598.6k $94.3m | Added +18.9k |
| Clearbridge Investments, LLC 0.07% of their portfolio | 584.9k $92.2m | Unchanged |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.07% of their portfolio | 584.3k $92.1m | Added +18.9k |
| SCHRODER INVESTMENT MANAGEMENT GROUP 0.07% of their portfolio | 583.7k $92.0m | Reduced -42.0k |
| PRUDENTIAL FINANCIAL INC 0.11% of their portfolio | 582.8k $91.8m | Added +383.7k |
| RHUMBLINE ADVISERS 0.07% of their portfolio | 571.8k $90.1m | Added +3.2k |
| PARK PRESIDIO CAPITAL LLC 7.76% of their portfolio | 566.3k $89.2m | Added +139.7k |
| Hosking Partners LLP 3.21% of their portfolio | 563.6k $88.8m | Added +9.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.06% of their portfolio | 555.2k $87.5m | Reduced -232.4k |
| National Pension Service 0.07% of their portfolio | 539.1k $84.9m | Added +34.7k |
| California Public Employees Retirement System 0.05% of their portfolio | 539.1k $84.9m | Reduced -17.3k |
| Balyasny Asset Management L.P. 0.17% of their portfolio | 531.7k $83.8m | Reduced -297.5k |
| TD Asset Management Inc 0.07% of their portfolio | 524.2k $82.6m | Added +60.1k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.11% of their portfolio | 522.3k $82.3m | Added +3.7k |
| Mitsubishi UFJ Trust & Banking Corp 0.17% of their portfolio | 499.2k $78.6m | Reduced -86.1k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.08% of their portfolio | 491.5k $77.4m | Reduced -1.7k |
| LORD, ABBETT & CO. LLC 0.23% of their portfolio | 481.3k $75.8m | Reduced -14.8k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.12% of their portfolio | 466.8k $73.5m | Reduced -87.2k |
| AQR CAPITAL MANAGEMENT LLC 0.05% of their portfolio | 465.0k $73.0m | Reduced -145.5k |
| CITADEL ADVISORS LLC 0.06% of their portfolio | 464.0k $73.1m | Added +449.8k |
| Korea Investment CORP 0.15% of their portfolio | 456.7k $72.0m | Added +213.8k |
| Man Group plc 0.14% of their portfolio | 448.4k $70.6m | Added +96.5k |
| Rathbones Group PLC 0.28% of their portfolio | 434.5k $68.5m | Added +102.2k |
| COMMERCE BANK 0.37% of their portfolio | 426.7k $67.2m | Added +6.4k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 426.5k $67.2m | Reduced -131.1k |
| DekaBank Deutsche Girozentrale 0.11% of their portfolio | 416.5k $66.1m | Unchanged |
| NORDEA INVESTMENT MANAGEMENT AB 0.06% of their portfolio | 407.0k $63.5m | Added +86.8k |
| BNP PARIBAS FINANCIAL MARKETS 0.05% of their portfolio | 399.4k $62.9m | Added +63.9k |
| Cornerstone Investment Partners, LLC 2.59% of their portfolio | 392.8k $61.9m | Added +47.5k |
| Allianz Asset Management GmbH 0.07% of their portfolio | 383.6k $60.4m | Reduced -328.9k |
| REGIONS FINANCIAL CORP 0.19% of their portfolio | 369.9k $58.3m | Added +192.8k |