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 ($19.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $32.48. Options: 9 managers hold calls ($8.0m notional), 6 hold puts ($13.0m).
Trends to Q2 2024
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 |
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 2022 | 97 | 71 |
| Q1 2023 | 120 | 78 |
| Q2 2023 | 130 | 86 |
| Q3 2023 | 115 | 98 |
| Q4 2023 | 113 | 102 |
| Q1 2024 | 145 | 84 |
| Q2 2024 | 144 | 109 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2023 | $3.7m | $2.2m | 0.58 |
| Q4 2023 | $4.1m | $8.9m | 2.18 |
| Q1 2024 | $9.9m | $9.4m | 0.95 |
| Q2 2024 | $8.0m | $13.0m | 1.63 |
Biggest buyers
| Capital Research Global Investors | Added | +2.6m |
| Beutel, Goodman & Co Ltd. | New | +1.7m |
| Mitsubishi UFJ Trust & Banking Corp | Added | +1.6m |
| MILLENNIUM MANAGEMENT LLC | Added | +1.6m |
| ROYAL BANK OF CANADA | Added | +1.5m |
| ArrowMark Colorado Holdings LLC | Added | +1.3m |
| Advent International, L.P. | New | +1.1m |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +906.4k |
| Progeny 3, Inc. | Added | +748.4k |
| Yaupon Capital Management LP | New | +682.4k |
Biggest sellers
| MORGAN STANLEY | Reduced | -14.6m |
| BC Partners Advisors L.P. | Reduced | -4.9m |
| FMR LLC | Reduced | -4.4m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -1.3m |
| CITADEL ADVISORS LLC | Reduced | -1.1m |
| Findlay Park Partners LLP | Sold out | -1.0m |
| CIBC Asset Management Inc | Reduced | -874.9k |
| Caisse de depot et placement du Quebec | Reduced | -713.4k |
| ADW Capital Management, LLC | Reduced | -660.0k |
| Forge First Asset Management Inc. | Reduced | -536.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $3.5m89.1k shares |
| SIG North Trading, ULC | Reduced | $1.8m46.7k shares |
| CITADEL ADVISORS LLC | Reduced | $1.1m27.6k shares |
| Point72 Asset Management, L.P. | Reduced | $599.5k15.4k shares |
| Walleye Capital LLC | Added | $471.1k12.1k shares |
| WOLVERINE TRADING, LLC | New | $338.7k8.7k shares |
| SIMPLEX TRADING, LLC | Reduced | $167.0k4.3k shares |
| GROUP ONE TRADING LLC | Reduced | $15.6k400 shares |
| CONCOURSE FINANCIAL GROUP SECURITIES, INC. | Unchanged | $00 shares |
Biggest puts
| ROYAL BANK OF CANADA | New | $7.7m198.6k shares |
| Hiddenite Capital Partners LP | New | $1.9m50.0k shares |
| CITADEL ADVISORS LLC | Reduced | $1.2m31.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $926.5k23.8k shares |
| SIG North Trading, ULC | Added | $903.2k23.2k shares |
| WOLVERINE TRADING, LLC | New | $233.6k6.0k 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 in Q2 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.
None reported in Q2 2024.
Holders, Q2 2024
| Manager | Shares | Change |
|---|---|---|
| BC Partners Advisors L.P. 0.02% of their portfolio | 43.6m $1.3m | Reduced -4.9m |
| ONTARIO TEACHERS PENSION PLAN BOARD 13.49% of their portfolio | 35.4m $1.4bn | Unchanged |
| FMR LLC 0.06% of their portfolio | 23.4m $912.5m | Reduced -4.4m |
| Capital Research Global Investors 0.19% of their portfolio | 22.4m $873.3m | Added +2.6m |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.14% of their portfolio | 11.6m $450.0m | Reduced -1.3m |
| Pictet Asset Management Holding SA 0.50% of their portfolio | 11.1m $432.0m | Reduced -52.9k |
| ROYAL BANK OF CANADA 0.09% of their portfolio | 9.4m $365.8m | Added +1.5m |
| VANGUARD GROUP INC 0.01% of their portfolio | 8.4m $325.1m | Added +436.1k |
| NORDEA INVESTMENT MANAGEMENT AB 0.33% of their portfolio | 7.2m $281.8m | Added +498.9k |
| MORGAN STANLEY 0.02% of their portfolio | 6.4m $247.4m | Reduced -14.6m |
| FRED ALGER MANAGEMENT, LLC 1.18% of their portfolio | 6.2m $242.2m | Added +411.1k |
| Clarkston Capital Partners, LLC 4.56% of their portfolio | 6.1m $238.7m | Reduced -26.6k |
| MILLENNIUM MANAGEMENT LLC 0.18% of their portfolio | 5.6m $219.9m | Added +1.6m |
| DEUTSCHE BANK AG\ 0.08% of their portfolio | 4.4m $172.2m | Reduced -478.7k |
| MAVERICK CAPITAL LTD 2.43% of their portfolio | 3.3m $127.9m | Added +595.3k |
| NORGES BANK 0.01% of their portfolio | 2.5m $97.5m | Added +46.5k |
| MARSHALL WACE, LLP 0.14% of their portfolio | 2.5m $96.4m | Added +512.7k |
| CIBC Asset Management Inc 0.32% of their portfolio | 2.3m $90.8m | Reduced -874.9k |
| AMERICAN CENTURY COMPANIES INC 0.05% of their portfolio | 2.2m $86.4m | Reduced -50.3k |
| BlackRock Inc. 0.00% of their portfolio | 2.2m $86.1m | Reduced -331.1k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 1.8m $68.5m | Added +441.9k |
| Beutel, Goodman & Co Ltd. 0.36% of their portfolio | 1.7m $67.0m | New |
| JENNISON ASSOCIATES LLC 0.04% of their portfolio | 1.6m $64.0m | Added +266.6k |
| Mitsubishi UFJ Trust & Banking Corp 0.15% of their portfolio | 1.6m $63.2m | Added +1.6m |
| ArrowMark Colorado Holdings LLC 0.62% of their portfolio | 1.3m $52.0m | Added +1.3m |
| Connor, Clark & Lunn Investment Management Ltd. 0.19% of their portfolio | 1.2m $45.8m | Added +906.4k |
| NEUBERGER BERMAN GROUP LLC 0.04% of their portfolio | 1.1m $44.1m | Reduced -99.0k |
| PRIMECAP MANAGEMENT CO/CA/ 0.03% of their portfolio | 1.1m $41.0m | Unchanged |
| Advent International, L.P. 0.98% of their portfolio | 1.1m $41.0m | New |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 1.0m $39.3m | Added +72.6k |
| ADW Capital Management, LLC 9.30% of their portfolio | 990.0k $38.5m | Reduced -660.0k |
| Alberta Investment Management Corp 0.39% of their portfolio | 947.1k $36.9m | Reduced -174.2k |
| Copeland Capital Management, LLC 0.66% of their portfolio | 901.7k $35.1m | Added +5.0k |
| Progeny 3, Inc. 3.33% of their portfolio | 893.3k $34.8m | Added +748.4k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 879.6k $34.2m | Reduced -94.7k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 879.5k $34.2m | Reduced -92.6k |
| TimesSquare Capital Management, LLC 0.54% of their portfolio | 878.8k $34.2m | Reduced -487.9k |
| BANK OF MONTREAL /CAN/ 0.01% of their portfolio | 878.4k $34.3m | Added +36.6k |
| TD Asset Management Inc 0.03% of their portfolio | 854.6k $33.3m | Added +115.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 853.3k $33.0m | Added +3.8k |
| Caisse de depot et placement du Quebec 0.07% of their portfolio | 747.9k $29.1m | Reduced -713.4k |
| DIMENSIONAL FUND ADVISORS LP 0.01% of their portfolio | 731.6k $28.5m | Added +137.8k |
| Yaupon Capital Management LP 2.37% of their portfolio | 682.4k $26.6m | New |
| FIL Ltd 0.03% of their portfolio | 680.5k $26.5m | Reduced -173.2k |
| Legal & General Group Plc 0.01% of their portfolio | 671.3k $26.1m | Added +3.8k |
| Swiss National Bank 0.02% of their portfolio | 656.5k $25.5m | Added +500 |
| CITADEL ADVISORS LLC 0.03% of their portfolio | 655.0k $25.5m | Reduced -1.1m |
| RAYMOND JAMES & ASSOCIATES 0.02% of their portfolio | 650.4k $25.3m | Reduced -6.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 618.9k $24.1m | Reduced -137.2k |
| 1832 Asset Management L.P. 0.04% of their portfolio | 587.6k $22.9m | Reduced -214.2k |
| SOROS FUND MANAGEMENT LLC 0.47% of their portfolio | 537.7k $20.9m | Reduced -42.6k |
| DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main 0.02% of their portfolio | 535.4k $20.8m | Added +305.9k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio | 509.9k $19.9m | Added +126.1k |
| LOOMIS SAYLES & CO L P 0.03% of their portfolio | 506.2k $19.7m | Added +77.8k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 506.2k $19.7m | New |
| Vestcor Inc 0.66% of their portfolio | 504.4k $19.6m | Reduced -50.3k |
| BROWN BROTHERS HARRIMAN & CO 0.14% of their portfolio | 485.1k $18.9m | Added +91.4k |
| Point72 Asset Management, L.P. 0.06% of their portfolio | 472.9k $18.4m | Reduced -373.4k |
| KORNITZER CAPITAL MANAGEMENT INC /KS 0.33% of their portfolio | 451.9k $17.6m | Unchanged |
| NORTHERN TRUST CORP 0.00% of their portfolio | 416.4k $16.2m | Added +25.3k |
| Man Group plc 0.04% of their portfolio | 415.2k $16.2m | Added +139.6k |
| CIBC WORLD MARKET INC. 0.04% of their portfolio | 407.8k $15.9m | Reduced -7.5k |
| Barton Investment Management 2.11% of their portfolio | 407.2k $15.9m | Reduced -470 |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 378.9k $14.8m | Added +290.4k |
| SEI INVESTMENTS CO 0.02% of their portfolio | 340.0k $13.2m | Added +22.1k |
| Alyeska Investment Group, L.P. 0.07% of their portfolio | 327.0k $12.7m | Reduced -267.0k |
| Hood River Capital Management LLC 0.26% of their portfolio | 319.3k $12.4m | Added +24 |
| BANK OF NOVA SCOTIA 0.02% of their portfolio | 315.0k $12.3m | Added +2.4k |
| CenterBook Partners LP 0.76% of their portfolio | 314.9k $12.3m | Added +60.5k |
| CI INVESTMENTS INC. 0.05% of their portfolio | 305.3k $11.9m | Reduced -7.1k |
| Nuveen Asset Management, LLC 0.00% of their portfolio | 294.0k $11.4m | Reduced -22.2k |
| Addenda Capital Inc. 0.58% of their portfolio | 279.4k $14.9m | Reduced -13.6k |
| Interval Partners, LP 0.32% of their portfolio | 276.4k $10.8m | Reduced -66.6k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.13% of their portfolio | 271.4k $10.6m | Added +14.6k |
| CENTAURUS FINANCIAL, INC. 0.56% of their portfolio | 216.2k $8.4m | Added +27.9k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 211.0k $8.2m | Added +106.2k |
| SCHWARTZ INVESTMENT COUNSEL INC 0.30% of their portfolio | 210.7k $8.2m | Added +11.6k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 199.0k $7.7m | New |
| MACKENZIE FINANCIAL CORP 0.01% of their portfolio | 197.1k $7.7m | Reduced -12.6k |
| HUNTINGTON NATIONAL BANK 0.06% of their portfolio | 185.9k $7.2m | Unchanged |
| NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio | 183.0k $7.1m | Added +2.9k |
| Hudson Bay Capital Management LP 0.05% of their portfolio | 182.1k $7.1m | Reduced -26.3k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 179.6k $7.0m | Reduced -23.7k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 171.3k $6.7m | Reduced -1.2k |
| Munro Partners 0.22% of their portfolio | 150.5k $5.9m | Added +5.8k |
| J. Safra Sarasin Holding AG 0.10% of their portfolio | 147.4k $5.7m | First filing |
| Allianz Asset Management GmbH 0.01% of their portfolio | 142.2k $5.5m | Added +130.9k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 137.8k $5.4m | Added +52.4k |
| Amundi 0.00% of their portfolio | 137.1k $5.4m | Added +27.0k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 129.5k $5.0m | Added +78.9k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.03% of their portfolio | 127.3k $5.0m | Reduced -18.1k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 126.7k $4.9m | Added +22.5k |
| BRASADA CAPITAL MANAGEMENT, LP 0.80% of their portfolio | 118.3k $4.5m | Reduced -24 |
| Cruiser Capital Advisors, LLC 5.92% of their portfolio | 109.8k $4.3m | Added +10.0k |
| TWO SIGMA ADVISERS, LP 0.01% of their portfolio | 106.6k $4.1m | Added +11.6k |
| Woodline Partners LP 0.04% of their portfolio | 105.7k $4.1m | Reduced -224.9k |
| Ghisallo Capital Management LLC 0.34% of their portfolio | 100.0k $3.9m | Reduced -400.0k |
| Roubaix Capital, LLC 2.42% of their portfolio | 98.4k $3.8m | Reduced -24.2k |
| SCOTIA CAPITAL INC. 0.02% of their portfolio | 95.7k $3.7m | Added +4.2k |
| Verde Servicos Internacionais S.A. 1.71% of their portfolio | 95.2k $3.7m | Reduced -129.7k |