Vault-13

GFL ENVIRONMENTAL INC GFL

SUB VTG SHS · Common Stock · CUSIP 36168Q104 · ISIN CA36168Q1046

222 institutional holders +32 vs Q1 2023
244,344,257244.3m shares reported held*
$7.4bnreported value*
46 new 84 added 71 reduced 15 sold out net sold ≈ $646.8m (-15.8m shares)

* 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 ($9.4m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $30.31. Options: 8 managers hold calls ($5.9m notional), 2 hold puts ($182.4k).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0100200300Q3 22: 170Q4 22: 180Q1 23: 190Q2 23: 222222Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 2022170
Q4 2022180
Q1 2023190
Q2 2023222

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
2000200Q4 22: 97 bought or addedQ4 22: 71 cut or sold outQ4 22Q1 23: 120 bought or addedQ1 23: 78 cut or sold outQ1 23Q2 23: 130 bought or addedQ2 23: 86 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20229771
Q1 202312078
Q2 202313086

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$10m$20m$30m$40mQ3 22 calls: $8.7mQ3 22 puts: $28.1mQ3 22P/C 3.22Q4 22 calls: $15.7mQ4 22 puts: $39.5mQ4 22P/C 2.52Q1 23 calls: $13.7mQ1 23 puts: $7.3mQ1 23P/C 0.53Q2 23 calls: $5.9mQ2 23 puts: $182.4kQ2 23P/C 0.03
Numbers
QuarterCallsPutsP/C
Q3 2022$8.7m$28.1m3.22
Q4 2022$15.7m$39.5m2.52
Q1 2023$13.7m$7.3m0.53
Q2 2023$5.9m$182.4k0.03

Biggest buyers

Capital Research Global Investors Added +5,655,796+5.7m
CITADEL ADVISORS LLC Added +3,258,595+3.3m
FRED ALGER MANAGEMENT, LLC Added +2,118,106+2.1m
VANGUARD GROUP INC Added +1,711,847+1.7m
Gladstone Capital Management LLP Added +1,575,006+1.6m
Point72 Asset Management, L.P. New +1,481,900+1.5m
MILLENNIUM MANAGEMENT LLC Added +1,273,060+1.3m
Man Group plc New +537,652+537.7k
AMERICAN CENTURY COMPANIES INC Added +516,030+516.0k
MARSHALL WACE, LLP Added +381,141+381.1k

Biggest sellers

FMR LLC Reduced -22,106,122-22.1m
ONTARIO TEACHERS PENSION PLAN BOARD Reduced -4,309,029-4.3m
MORGAN STANLEY Reduced -2,617,923-2.6m
MACKENZIE FINANCIAL CORP Reduced -2,031,526-2.0m
ROYAL BANK OF CANADA Reduced -1,391,518-1.4m
SAMLYN CAPITAL, LLC Reduced -1,004,589-1.0m
Man Group plc Sold out -856,817-856.8k
NORGES BANK Reduced -714,781-714.8k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -654,216-654.2k
HRT FINANCIAL LP Sold out -575,793-575.8k

Biggest calls

GROUP ONE TRADING LLC Reduced $2.5m64.7k shares
SIG North Trading, ULC Reduced $900.2k23.2k shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Reduced $787.6k20.3k shares
Walleye Trading LLC New $779.9k20.1k shares
CITADEL ADVISORS LLC Reduced $620.8k16.0k shares
HAP Trading, LLC New $276.6k70.1k shares
SIMPLEX TRADING, LLC Reduced $19.0k500 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

CITADEL ADVISORS LLC Reduced $170.7k4.4k shares
Walleye Trading LLC New $11.6k300 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.

HolderStakeChangeShares Last filed
BCEC-GFL Borrower GP (Cayman), Ltd 13G · exempt (held before listing) -2.8 pts · filed 2026-02-13 22.1% -2.8 pts 76.6m≈ $2.8bn 2026-02-13
Dovigi Patrick 13G · exempt (held before listing) filed 2025-11-07 6.8% 25.7m≈ $945.1m 2025-11-07
Capital Research Global Investors 13G · institution +1.3 pts · filed 2026-05-14 6.7% +1.3 pts 23.2m≈ $851.8m 2026-05-14
FMR LLC 13G · institution -1.3 pts · filed 2026-08-06 6.5% -1.3 pts 22.6m≈ $832.9m 2026-08-06
ONTARIO TEACHERS PENSION PLAN BOARD 13G · exempt (held before listing) -1.0 pts · filed 2026-02-13 6.5% -1.0 pts 22.5m≈ $826.0m 2026-02-13

Insider purchases and sales in Q2 2023

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 in Q2 2023.

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 BC Partners Advisors L.P. 10.80% of their portfolio New York, NY 53,784,16753.8m $1.5m $1.5m 10.80% Unchanged
2 ONTARIO TEACHERS PENSION PLAN BOARD 15.95% of their portfolio Toronto, A6 39,351,84339.4m $1.5bn $1.5bn 15.95% Reduced -4.3m -4,309,029
3 FMR LLC 0.09% of their portfolio BOSTON, MA 28,355,06628.4m $1.1bn $1.1bn 0.09% Reduced -22.1m -22,106,122
4 Capital Research Global Investors 0.08% of their portfolio Los Angeles, CA 8,141,5708.1m $315.9m $315.9m 0.08% Added +5.7m +5,655,796
5 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.10% of their portfolio Boston, MA 8,053,8068.1m $312.5m $312.5m 0.10% Reduced -344.2k -344,207
6 VANGUARD GROUP INC 0.01% of their portfolio Valley Forge, PA 7,013,5957.0m $272.1m $272.1m 0.01% Added +1.7m +1,711,847
7 NORDEA INVESTMENT MANAGEMENT AB 0.32% of their portfolio STOCKHOLM, V7 6,040,9326.0m $233.6m $233.6m 0.32% Reduced -249.1k -249,072
8 FRED ALGER MANAGEMENT, LLC 1.13% of their portfolio NEW YORK, NY 5,695,7625.7m $221.0m $221.0m 1.13% Added +2.1m +2,118,106
9 MORGAN STANLEY 0.02% of their portfolio NEW YORK, NY 5,607,1745.6m $217.6m $217.6m 0.02% Reduced -2.6m -2,617,923
10 ROYAL BANK OF CANADA 0.06% of their portfolio TORONTO, A6 5,262,9175.3m $204.2m $204.2m 0.06% Reduced -1.4m -1,391,518
11 NORGES BANK 0.04% of their portfolio OSLO, Q8 5,157,8825.2m $200.1m $200.1m 0.04% Reduced -714.8k -714,781
12 PICTET ASSET MANAGEMENT SA 0.24% of their portfolio GENEVA 73, V8 5,140,7105.1m $199.8m $199.8m 0.24% Reduced -272.4k -272,443
13 AMERICAN CENTURY COMPANIES INC 0.13% of their portfolio KANSAS CITY, MO 4,502,3764.5m $174.7m $174.7m 0.13% Added +516.0k +516,030
14 Clarkston Capital Partners, LLC 2.61% of their portfolio Rochester, MI 3,746,4323.7m $145.4m $145.4m 2.61% Added +15.0k +14,955
15 CITADEL ADVISORS LLC 0.14% of their portfolio MIAMI, FL 3,326,8413.3m $129.1m $129.1m 0.14% Added +3.3m +3,258,595
16 BlackRock Inc. 0.00% of their portfolio New York, NY 2,854,1392.9m $110.7m $110.7m 0.00% Reduced -470.2k -470,172
17 Gladstone Capital Management LLP 11.64% of their portfolio LONDON, X0 2,722,8062.7m $105.6m $105.6m 11.64% Added +1.6m +1,575,006
18 FRANKLIN RESOURCES INC 0.05% of their portfolio San Mateo, CA 2,699,7722.7m $104.8m $104.8m 0.05% Reduced -38.1k -38,146
19 Connor, Clark & Lunn Investment Management Ltd. 0.40% of their portfolio VANCOUVER, A1 2,070,0602.1m $80.4m $80.4m 0.40% Added +356.0k +355,984
20 CIBC Asset Management Inc 0.31% of their portfolio TORONTO, Z4 2,023,0482.0m $78.6m $78.6m 0.31% Reduced -286.8k -286,769
21 TimesSquare Capital Management, LLC 1.13% of their portfolio NEW YORK, NY 2,022,8002.0m $78.5m $78.5m 1.13% Added +336.8k +336,830
22 JENNISON ASSOCIATES LLC 0.06% of their portfolio NEW YORK, NY 1,936,9771.9m $75.2m $75.2m 0.06% Reduced -362.2k -362,159
23 SAMLYN CAPITAL, LLC 1.22% of their portfolio New York, NY 1,807,1981.8m $70.1m $70.1m 1.22% Reduced -1.0m -1,004,589
24 NEW YORK STATE COMMON RETIREMENT FUND 0.08% of their portfolio ALBANY, NY 1,700,5351.7m $66.0m $66.0m 0.08% Added +140.1k +140,135
25 ADW Capital Management, LLC 17.91% of their portfolio Miami Beach, FL 1,650,0001.6m $64.0m $64.0m 17.91% Unchanged
26 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.03% of their portfolio Toronto, A6 1,584,4081.6m $61.5m $61.5m 0.03% Reduced -654.2k -654,216
27 NEUBERGER BERMAN GROUP LLC 0.05% of their portfolio NEW YORK, NY 1,569,4211.6m $60.9m $60.9m 0.05% Reduced -287.0k -287,019
28 Point72 Asset Management, L.P. 0.20% of their portfolio STAMFORD, CT 1,481,9001.5m $57.5m $57.5m 0.20% New
29 Caisse de depot et placement du Quebec 0.14% of their portfolio Montreal, A8 1,358,0001.4m $52.8m $52.8m 0.14% Added +222.7k +222,678
30 MILLENNIUM MANAGEMENT LLC 0.05% of their portfolio NEW YORK, NY 1,288,4841.3m $50.0m $50.0m 0.05% Added +1.3m +1,273,060
31 GOLDMAN SACHS GROUP INC 0.01% of their portfolio NEW YORK, NY 1,253,3221.3m $48.6m $48.6m 0.01% Added +144.9k +144,931
32 MARSHALL WACE, LLP 0.10% of their portfolio LONDON, X0 1,140,2451.1m $44.2m $44.2m 0.10% Added +381.1k +381,141
33 BANK OF MONTREAL /CAN/ 0.01% of their portfolio TORONTO, A6 1,009,7561.0m $39.2m $39.2m 0.01% Added +20.2k +20,247
34 PRIMECAP MANAGEMENT CO/CA/ 0.03% of their portfolio PASADENA, CA 960,000960.0k $37.2m $37.2m 0.03% Added +22.5k +22,500
35 TD Asset Management Inc 0.04% of their portfolio Toronto, A6 936,372936.4k $36.4m $36.4m 0.04% Reduced -27.0k -27,023
36 Copeland Capital Management, LLC 0.72% of their portfolio Conshohocken, PA 897,301897.3k $34.8m $34.8m 0.72% Added +40.0k +39,988
37 Swiss National Bank 0.02% of their portfolio ZURICH, V8 873,900873.9k $34.0m $34.0m 0.02% Added +142.6k +142,600
38 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 821,025821.0k $31.9m $31.9m 0.00% Added +174.3k +174,309
39 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 756,448756.4k $29.2m $29.2m 0.00% Added +182.8k +182,824
40 Interval Partners, LP 1.45% of their portfolio NEW YORK, NY 741,641741.6k $28.8m $28.8m 1.45% Added +314.1k +314,098
41 FIL Ltd 0.03% of their portfolio HAMILTON, D0 607,326607.3k $23.6m $23.6m 0.03% Reduced -136.5k -136,456
42 Legal & General Group Plc 0.01% of their portfolio London, X0 596,333596.3k $23.2m $23.2m 0.01% Added +16.6k +16,601
43 Man Group plc 0.06% of their portfolio LONDON, X0 537,652537.7k $20.9m $20.9m 0.06% New
44 Norwood Investment Partners, LP 14.84% of their portfolio MILL VALLEY, CA 504,500504.5k $19.6m $19.6m 14.84% Reduced -33.7k -33,719
45 Sumitomo Mitsui Trust Group, Inc. 0.01% of their portfolio CHIYODA-KU, TOKYO, M0 461,042461.0k $17.9m $17.9m 0.01% Added +5.7k +5,722
46 Public Sector Pension Investment Board 0.12% of their portfolio MONTREAL, A8 436,479436.5k $17.0m $17.0m 0.12% Added +70.8k +70,811
47 CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio TORONTO ONTARIO, A6 400,159400.2k $15.6m $15.6m 0.02% Added +82.8k +82,800
48 ROYCE & ASSOCIATES LP 0.15% of their portfolio New York, NY 394,910394.9k $15.3m $15.3m 0.15% Added +39.6k +39,620
49 SEI INVESTMENTS CO 0.03% of their portfolio OAKS, PA 388,217388.2k $15.1m $15.1m 0.03% Added +70.8k +70,814
50 Hudson Bay Capital Management LP 0.15% of their portfolio STAMFORD, CT 380,000380.0k $14.7m $14.7m 0.15% Reduced -293.5k -293,510
51 RAYMOND JAMES & ASSOCIATES 0.01% of their portfolio ST PETERSBURG, FL 379,860379.9k $14.7m $14.7m 0.01% Reduced -81.5k -81,549
52 D. E. Shaw & Co., Inc. 0.02% of their portfolio New York, NY 364,963365.0k $14.2m $14.2m 0.02% New
53 BANK OF NOVA SCOTIA 0.04% of their portfolio TORONTO, A6 348,604348.6k $13.5m $13.5m 0.04% Added +87.7k +87,679
54 Forge First Asset Management Inc. 6.81% of their portfolio TORONTO, Z4 342,992343.0k $13.3m $13.3m 6.81% Added +74.5k +74,500
55 VOYA INVESTMENT MANAGEMENT LLC 0.01% of their portfolio ATLANTA, GA 336,392336.4k $13.1m $13.1m 0.01% Reduced -200.6k -200,600
56 Brookfield Corp /ON/ 0.05% of their portfolio TORONTO, A6 331,581331.6k $12.9m $12.9m 0.05% New
57 CIBC WORLD MARKET INC. 0.04% of their portfolio TORONTO, A6 316,979317.0k $12.3m $12.3m 0.04% Added +53.9k +53,936
58 Vestcor Inc 0.43% of their portfolio FREDERICTON, A3 305,715305.7k $11.9m $11.9m 0.43% Reduced -50.2k -50,185
59 BAROMETER CAPITAL MANAGEMENT INC. 3.59% of their portfolio TORONTO, A6 261,630261.6k $13.4m $13.4m 3.59% Added +152.0k +152,030
60 Bank of New York Mellon Corp 0.00% of their portfolio NEW YORK, NY 255,735255.7k $9.9m $9.9m 0.00% Added +55.7k +55,654
61 Northwest & Ethical Investments L.P. 0.32% of their portfolio TORONTO, A6 254,205254.2k $9.9m $9.9m 0.32% Reduced -22.2k -22,196
62 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 250,794250.8k $9.7m $9.7m 0.00% Reduced -155.2k -155,157
63 Hillsdale Investment Management Inc. 0.87% of their portfolio Toronto, A6 244,000244.0k $9.5m $9.5m 0.87% New
64 CI INVESTMENTS INC. 0.05% of their portfolio TORONTO, Z4 236,982237.0k $9.2m $9.2m 0.05% Added +9.2k +9,172
65 Barton Investment Management 1.36% of their portfolio WEST CONSHOHOCKEN, PA 234,085234.1k $9.1m $9.1m 1.36% Added +115.8k +115,790
66 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 226,049226.0k $8.8m $8.8m 0.00% Added +52.3k +52,314
67 CREDIT SUISSE AG/ 0.01% of their portfolio ZURICH, V8 221,683221.7k $8.6m $8.6m 0.01% Added +36.3k +36,312
68 SCHWARTZ INVESTMENT COUNSEL INC 0.36% of their portfolio PLYMOUTH, MI 221,596221.6k $8.6m $8.6m 0.36% Reduced -59.0k -59,000
69 DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio AUSTIN, TX 212,644212.6k $8.2m $8.2m 0.00% Added +16.6k +16,600
70 Addenda Capital Inc. 0.45% of their portfolio MONTREAL, A8 210,540210.5k $10.8m $10.8m 0.45% Reduced -6.2k -6,170
71 KORNITZER CAPITAL MANAGEMENT INC /KS 0.15% of their portfolio SHAWNEE MISSION, KS 200,000200.0k $7.8m $7.8m 0.15% Unchanged
72 INTACT INVESTMENT MANAGEMENT INC. 0.31% of their portfolio MONTREAL, A8 194,359194.4k $7.5m $7.5m 0.31% Reduced -470.4k -470,411
73 Alberta Investment Management Corp 0.07% of their portfolio EDMONTON, A0 191,300191.3k $7.4m $7.4m 0.07% Added +101.0k +101,000
74 Schonfeld Strategic Advisors LLC 0.06% of their portfolio NEW YORK, NY 188,900188.9k $7.3m $7.3m 0.06% Reduced -25.5k -25,491
75 Caldwell Investment Management Ltd. 5.34% of their portfolio TORONTO, A6 185,000185.0k $7.1m $7.1m 5.34% New
76 Lisanti Capital Growth, LLC 0.99% of their portfolio NEW YORK, NY 184,240184.2k $7.1m $7.1m 0.99% New
77 MACKENZIE FINANCIAL CORP 0.01% of their portfolio TORONTO ONTARIO, A6 182,003182.0k $7.1m $7.1m 0.01% Reduced -2.0m -2,031,526
78 Portolan Capital Management, LLC 0.62% of their portfolio BOSTON, MA 179,099179.1k $6.9m $6.9m 0.62% Reduced -27.5k -27,465
79 TD Waterhouse Canada Inc. 0.09% of their portfolio TORONTO, A6 175,122175.1k $8.9m $8.9m 0.09% Reduced -4.2k -4,175
80 1623 Capital LLC 3.82% of their portfolio ALEXANDRIA, VA 174,000174.0k $6.8m $6.8m 3.82% Added +17.8k +17,800
81 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.06% of their portfolio VICTORIA, A1 163,179163.2k $6.3m $6.3m 0.06% Added +18.2k +18,212
82 SILVERCREST ASSET MANAGEMENT GROUP LLC 0.04% of their portfolio NEW YORK, NY 161,603161.6k $6.3m $6.3m 0.04% New
83 CENTAURUS FINANCIAL, INC. 0.50% of their portfolio ANAHEIM, CA 145,918145.9k $5.7m $5.7m 0.50% Reduced -12.2k -12,189
84 TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio NEW YORK, NY 143,505143.5k $5.6m $5.6m 0.01% Added +109.0k +109,000
85 Hood River Capital Management LLC 0.16% of their portfolio PALM BEACH GARDENS, FL 140,721140.7k $5.5m $5.5m 0.16% Added +6.4k +6,418
86 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 139,824139.8k $5.4m $5.4m 0.01% Added +8.5k +8,470
87 BRANT POINT INVESTMENT MANAGEMENT LLC 1.24% of their portfolio New York, NY 139,630139.6k $5.4m $5.4m 1.24% Added +74.6k +74,630
88 Retirement Systems of Alabama 0.02% of their portfolio MONTGOMERY, AL 136,397136.4k $5.3m $5.3m 0.02% Reduced -39.2k -39,240
89 Russell Investments Group, Ltd. 0.01% of their portfolio Seattle, WA 132,846132.8k $5.2m $5.2m 0.01% Reduced -171 -171
90 Balyasny Asset Management L.P. 0.01% of their portfolio Chicago, IL 128,866128.9k $5.0m $5.0m 0.01% Added +26.3k +26,260
91 Amundi 0.00% of their portfolio Paris, I0 120,361120.4k $4.7m $4.7m 0.00% Added +80.5k +80,491
92 VOLORIDGE INVESTMENT MANAGEMENT, LLC 0.02% of their portfolio JUPITER, FL 115,796115.8k $4.5m $4.5m 0.02% New
93 Cruiser Capital Advisors, LLC 4.16% of their portfolio Stamford, CT 104,767104.8k $4.1m $4.1m 4.16% Reduced -3.5k -3,500
94 CANADA LIFE ASSURANCE Co 0.01% of their portfolio WINNIPEG, A2 103,247103.2k $4.0m $4.0m 0.01% Reduced -39.8k -39,818
95 SCOTIA CAPITAL INC. 0.03% of their portfolio TORONTO, A6 100,052100.1k $3.9m $3.9m 0.03% Reduced -17.0k -17,037
96 MONTANOVA CAPITAL, LLC 0.21% of their portfolio New York, NY 99,37599.4k $3.9m $3.9m 0.21% New
97 Daiwa Securities Group Inc. 0.02% of their portfolio CHIYODA-KU,TOKYO, M0 93,65293.7k $3.6m $3.6m 0.02% Reduced -70.2k -70,151
98 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 93,57293.6k $3.6m $3.6m 0.00% Added +47.5k +47,510
99 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 92,63392.6k $3.6m $3.6m 0.00% Reduced -14.9k -14,868
100 Verition Fund Management LLC 0.05% of their portfolio GREENWICH, CT 89,28289.3k $3.5m $3.5m 0.05% New