GFL ENVIRONMENTAL INC GFL
SUB VTG SHS · Common Stock · CUSIP 36168Q104 · ISIN CA36168Q1046
- SectorUtilities
- IndustryRefuse Systems
- HeadquartersMiami, FL
- FilingsSEC EDGAR
* 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 ($30.5m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $36.52. Options: 7 managers hold calls ($6.5m notional), 6 hold puts ($3.4m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 170 |
| Q4 2022 | 180 |
| Q1 2023 | 190 |
| Q2 2023 | 222 |
| Q3 2023 | 207 |
| Q4 2023 | 212 |
| Q1 2024 | 237 |
| Q2 2024 | 256 |
| Q3 2024 | 269 |
| Q4 2024 | 288 |
| Q1 2025 | 322 |
| Q2 2025 | 312 |
| Q3 2025 | 301 |
| Q4 2025 | 329 |
| Q1 2026 | 328 |
| Q2 2026 | 326 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 145 | 105 |
| Q4 2024 | 150 | 122 |
| Q1 2025 | 166 | 149 |
| Q2 2025 | 139 | 171 |
| Q3 2025 | 141 | 145 |
| Q4 2025 | 160 | 125 |
| Q1 2026 | 176 | 150 |
| Q2 2026 | 179 | 168 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $7.4m | $5.5m | 0.73 |
| Q4 2025 | $2.4m | $10.9m | 4.61 |
| Q1 2026 | $19.0m | $2.0m | 0.11 |
| Q2 2026 | $6.5m | $3.4m | 0.52 |
Biggest buyers
| FIL Ltd | Added | +7.6m |
| MAVERICK CAPITAL LTD | Added | +6.4m |
| BlackRock, Inc. | Added | +5.5m |
| Mitsubishi UFJ Trust & Banking Corp | New | +3.1m |
| STATE STREET CORP | Added | +2.2m |
| NORDEA INVESTMENT MANAGEMENT AB | Added | +2.2m |
| DNB Asset Management AS | New | +2.2m |
| DENDUR CAPITAL LP | New | +2.0m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +1.6m |
| MACKENZIE FINANCIAL CORP | Added | +1.5m |
Biggest sellers
| FMR LLC | Reduced | -2.8m |
| JANE STREET GROUP, LLC | Reduced | -2.4m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -2.2m |
| Progeny 3, Inc. | Sold out | -1.9m |
| Capital Research Global Investors | Reduced | -1.2m |
| CITADEL ADVISORS LLC | Sold out | -1.1m |
| Beutel, Goodman & Co Ltd. | Reduced | -916.8k |
| MARSHALL WACE, LLP | Reduced | -914.3k |
| Qube Research & Technologies Ltd | Reduced | -872.0k |
| Advent International, L.P. | Sold out | -823.0k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $3.4m92.4k shares |
| SIG North Trading, ULC | Added | $1.8m49.4k shares |
| CITADEL ADVISORS LLC | Added | $562.9k15.3k shares |
| JANE STREET GROUP, LLC | Added | $345.8k9.4k shares |
| IMC-Chicago, LLC | New | $242.8k6.6k shares |
| SIMPLEX TRADING, LLC | Added | $106.7k2.9k shares |
| Walleye Capital LLC | Reduced | $3.7k100 shares |
Biggest puts
| SIG North Trading, ULC | Added | $2.0m54.6k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $585.0k15.9k shares |
| CITADEL ADVISORS LLC | Added | $426.8k11.6k shares |
| GROUP ONE TRADING LLC | Unchanged | $165.6k4.5k shares |
| SIMPLEX TRADING, LLC | New | $114.0k3.1k shares |
| Walleye Capital LLC | New | $51.5k1.4k 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 |
|---|---|
| BCEC-GFL Borrower GP (Cayman), Ltd 13G · exempt (held before listing) -2.8 pts · filed 2026-02-13 | 22.1% |
| Dovigi Patrick 13G · exempt (held before listing) filed 2025-11-07 | 6.8% |
| Capital Research Global Investors 13G · institution +1.3 pts · filed 2026-05-14 | 6.7% |
| FMR LLC 13G · institution -1.3 pts · filed 2026-08-06 | 6.5% |
| ONTARIO TEACHERS PENSION PLAN BOARD 13G · exempt (held before listing) -1.0 pts · filed 2026-02-13 | 6.5% |
Insider purchases and sales since 1 Apr 2026
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.
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| BC Partners PE LP 21.77% of their portfolio | 29.9m $965.1m | Unchanged |
| FMR LLC 0.04% of their portfolio | 22.6m $832.5m | Reduced -2.8m |
| ONTARIO TEACHERS PENSION PLAN BOARD 5.24% of their portfolio | 22.5m $824.7m | Unchanged |
| Capital Research Global Investors 0.11% of their portfolio | 21.9m $806.4m | Reduced -1.2m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.13% of their portfolio | 10.9m $422.8m | Reduced -80.3k |
| NORDEA INVESTMENT MANAGEMENT AB 0.31% of their portfolio | 10.5m $380.1m | Added +2.2m |
| MAVERICK CAPITAL LTD 3.39% of their portfolio | 10.2m $375.3m | Added +6.4m |
| ROYAL BANK OF CANADA 0.06% of their portfolio | 9.1m $335.3m | Added +751.1k |
| BlackRock, Inc. 0.00% of their portfolio | 8.1m $298.1m | Added +5.5m |
| FIL Ltd 0.20% of their portfolio | 7.7m $284.6m | Added +7.6m |
| CIBC Asset Management Inc 0.60% of their portfolio | 7.5m $275.6m | Added +1.4m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 7.3m $267.0m | Reduced -80.2k |
| Pictet Asset Management Holding SA 0.23% of their portfolio | 6.7m $245.5m | Added +519.3k |
| Beutel, Goodman & Co Ltd. 1.55% of their portfolio | 5.7m $210.3m | Reduced -916.8k |
| FRED ALGER MANAGEMENT, LLC 0.67% of their portfolio | 5.4m $199.8m | Reduced -587.2k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 4.5m $164.5m | Added +745.4k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.9m $144.3m | Added +1.6m |
| NORGES BANK 0.01% of their portfolio | 3.4m $123.7m | Not comparable |
| Mitsubishi UFJ Trust & Banking Corp 0.25% of their portfolio | 3.1m $112.5m | New |
| MACKENZIE FINANCIAL CORP 0.15% of their portfolio | 2.9m $152.7m | Added +1.5m |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 2.6m $95.1m | Reduced -77.1k |
| Caisse de depot et placement du Quebec 0.13% of their portfolio | 2.5m $91.0m | Added +1.4m |
| VANGUARD FIDUCIARY TRUST CO 0.02% of their portfolio | 2.3m $85.8m | Reduced -773 |
| MILLENNIUM MANAGEMENT LLC 0.06% of their portfolio | 2.3m $85.7m | Reduced -2.2m |
| STATE STREET CORP 0.00% of their portfolio | 2.2m $82.5m | Added +2.2m |
| MORGAN STANLEY 0.00% of their portfolio | 2.2m $80.8m | Reduced -570.7k |
| DNB Asset Management AS 0.23% of their portfolio | 2.2m $80.6m | New |
| DENDUR CAPITAL LP 4.25% of their portfolio | 2.0m $72.7m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.9m $71.6m | Added +98.7k |
| BANK OF MONTREAL /CAN/ 0.02% of their portfolio | 1.6m $60.3m | Added +80.2k |
| BROWN BROTHERS HARRIMAN & CO 0.25% of their portfolio | 1.5m $56.4m | Reduced -196.0k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 1.5m $55.0m | Added +950.5k |
| Russell Investments Group, Ltd. 0.05% of their portfolio | 1.4m $51.3m | Added +1.1m |
| Balyasny Asset Management L.P. 0.09% of their portfolio | 1.4m $50.6m | Reduced -474.8k |
| Nuveen, LLC 0.01% of their portfolio | 1.4m $50.5m | Added +177.2k |
| TD Asset Management Inc 0.04% of their portfolio | 1.3m $48.5m | Reduced -174.3k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.03% of their portfolio | 1.3m $47.7m | Added +1.1m |
| MARSHALL WACE, LLP 0.04% of their portfolio | 1.2m $45.7m | Reduced -914.3k |
| TimesSquare Capital Management, LLC 0.63% of their portfolio | 1.2m $42.8m | Added +909 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio | 1.1m $42.0m | Reduced -16.3k |
| Vanguard Global Advisers, LLC 0.02% of their portfolio | 1.1m $40.7m | Added +42.3k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 1.1m $39.1m | Added +924.3k |
| Legal & General Group Plc 0.01% of their portfolio | 1.1m $38.8m | Reduced -158.3k |
| ADW Capital Management, LLC 13.57% of their portfolio | 1.0m $37.2m | Unchanged |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.0m $37.2m | Reduced -79.2k |
| Hood River Capital Management LLC 0.26% of their portfolio | 989.9k $36.4m | Added +307.3k |
| PRIMECAP MANAGEMENT CO/CA/ 0.02% of their portfolio | 911.0k $33.5m | Added +243.2k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 901.0k $33.1m | Added +367.5k |
| Clarkston Capital Partners, LLC 2.73% of their portfolio | 878.9k $32.3m | Reduced -51.0k |
| Verbena Value LP 4.93% of their portfolio | 811.3k $29.8m | Reduced -399.8k |
| Swiss National Bank 0.02% of their portfolio | 790.4k $29.0m | Reduced -25.1k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.02% of their portfolio | 774.4k $28.5m | Reduced -726.0k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 750.8k $27.6m | Reduced -26.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 749.5k $27.6m | Added +86.6k |
| SCHWARTZ INVESTMENT COUNSEL INC 0.91% of their portfolio | 745.9k $27.4m | Added +549.8k |
| AQR CAPITAL MANAGEMENT LLC 0.01% of their portfolio | 705.8k $25.7m | Reduced -424.6k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 702.4k $25.8m | Added +493.6k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 699.4k $25.7m | Added +49.8k |
| Paralel Advisors LLC 0.78% of their portfolio | 550.0k $20.2m | Unchanged |
| SEI INVESTMENTS CO 0.02% of their portfolio | 549.5k $20.2m | Added +49.4k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.01% of their portfolio | 544.2k $20.0m | Added +120.3k |
| Copeland Capital Management, LLC 0.40% of their portfolio | 534.9k $19.7m | Reduced -53.6k |
| NEUBERGER BERMAN GROUP LLC 0.01% of their portfolio | 521.9k $19.2m | Reduced -1.6k |
| UBS Group AG 0.00% of their portfolio | 510.8k $18.8m | Added +47.3k |
| Robeco Schweiz AG 0.27% of their portfolio | 464.8k $17.1m | Reduced -112.2k |
| Woodbridge Co Ltd 0.07% of their portfolio | 463.6k $17.1m | Unchanged |
| Walleye Capital LLC 0.07% of their portfolio | 421.8k $15.5m | Added +269.7k |
| Barton Investment Management 2.07% of their portfolio | 415.5k $15.3m | Reduced -3.9k |
| Vestcor Inc 0.37% of their portfolio | 411.7k $15.1m | Added +19.9k |
| Gotham Asset Management, LLC 0.03% of their portfolio | 398.1k $14.6m | Reduced -5.6k |
| Verition Fund Management LLC 0.10% of their portfolio | 398.0k $14.6m | Added +284.6k |
| Cinctive Capital Management LP 0.57% of their portfolio | 386.5k $14.2m | New |
| Invesco Ltd. 0.00% of their portfolio | 377.6k $13.9m | Added +252.5k |
| Amundi 0.00% of their portfolio | 376.6k $13.9m | Reduced -2.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 372.6k $13.7m | Added +371.8k |
| NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio | 354.0k $12.9m | Added +54.1k |
| Connor, Clark & Lunn Investment Management Ltd. 0.02% of their portfolio | 351.5k $12.9m | Reduced -129.9k |
| KORNITZER CAPITAL MANAGEMENT INC /KS 0.27% of their portfolio | 350.0k $12.9m | Unchanged |
| CIBC WORLD MARKET INC. 0.02% of their portfolio | 346.2k $12.7m | Added +37.1k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 337.2k $12.4m | New |
| LOOMIS SAYLES & CO L P 0.02% of their portfolio | 335.5k $12.3m | Added +68.1k |
| Bayberry Capital Partners LP 4.25% of their portfolio | 335.0k $12.3m | New |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.08% of their portfolio | 331.5k $12.2m | Added +103.5k |
| Norwood Investment Partners, LP 15.24% of their portfolio | 300.0k $11.0m | Added +96.0k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio | 294.8k $10.8m | Added +8.4k |
| S&CO INC 0.62% of their portfolio | 293.5k $10.8m | Added +90.3k |
| TD Waterhouse Canada Inc. 0.03% of their portfolio | 290.4k $10.9m | Reduced -2.5k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 290.0k $10.7m | Reduced -141.6k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.10% of their portfolio | 288.1k $10.6m | Reduced -65.2k |
| BANK OF NOVA SCOTIA 0.02% of their portfolio | 282.9k $10.4m | Reduced -43.1k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.19% of their portfolio | 282.2k $10.4m | Added +40.8k |
| Interval Partners, LP 0.33% of their portfolio | 275.0k $10.1m | Reduced -816.8k |
| HALLSTATT ADVISORS L.P. 6.90% of their portfolio | 266.2k $9.8m | Reduced -53.1k |
| BARCLAYS PLC 0.00% of their portfolio | 264.5k $9.7m | Added +45.7k |
| CIBC Bancorp USA Inc. 0.01% of their portfolio | 251.1k $9.2m | Added +794 |
| CAPITAL FUND MANAGEMENT S.A. 0.07% of their portfolio | 248.2k $9.1m | Added +86.7k |
| TORONTO DOMINION BANK 0.01% of their portfolio | 243.7k $9.0m | Added +4.2k |
| APG Asset Management N.V. 0.02% of their portfolio | 238.9k $7.7m | Added +68.4k |
| Redwood Grove Capital, LLC 1.99% of their portfolio | 214.0k $7.9m | New |
| BANQUE PICTET & CIE SA 0.08% of their portfolio | 212.4k $7.8m | Added +116.1k |