Vault-13

GRANITE REAL ESTATE INVT TR GRTUF

TR UNIT NEW · REIT · CUSIP 387437205

101 institutional holders +10 vs Q4 2024
35,136,05835.1m shares reported held*
56.0% of all shares outstanding*
$1.6bnreported value*
11 new 43 added 33 reduced 2 sold out net sold ≈ $144.2m (-3.1m 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 ($956.0k this quarter). Holder counts are more reliable. Shares outstanding: 62.7m as of 2024-12-31, 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 ≈ $46.80. Options: 3 managers hold calls ($1.3m notional), 4 hold puts ($3.3m).

Trends to Q1 2025

Institutional holders

Managers reporting a position, each quarter

050100150Q3 24: 2Q4 24: 91Q1 25: 101101Q3 24Q4 24Q1 25
Numbers
QuarterHolders
Q3 20242
Q4 202491
Q1 2025101

Buyers vs sellers

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

Bought or addedCut or sold out
1000100Q4 24: 90 bought or addedQ4 24: 0 cut or sold outQ4 24Q1 25: 54 bought or addedQ1 25: 35 cut or sold outQ1 25
Numbers
QuarterBought or addedCut or sold out
Q4 2024900
Q1 20255435

Calls vs puts

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

CallsPuts
$0$2m$4m$6m$8mQ2 24 calls: $0Q2 24 puts: $0Q2 24P/C —Q3 24 calls: $0Q3 24 puts: $0Q3 24P/C —Q4 24 calls: $1.3mQ4 24 puts: $7.6mQ4 24P/C 5.72Q1 25 calls: $1.3mQ1 25 puts: $3.3mQ1 25P/C 2.50
Numbers
QuarterCallsPutsP/C
Q2 2024$0$0—
Q3 2024$0$0—
Q4 2024$1.3m$7.6m5.72
Q1 2025$1.3m$3.3m2.50

Biggest buyers

ACADIAN ASSET MANAGEMENT LLC New +207,359+207.4k
GOLDMAN SACHS GROUP INC Added +195,408+195.4k
INTACT INVESTMENT MANAGEMENT INC. Added +163,700+163.7k
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP Added +163,537+163.5k
Man Group plc Added +157,500+157.5k
CIBC Asset Management Inc Added +150,318+150.3k
CIBC WORLD MARKET INC. Added +92,504+92.5k
AGF MANAGEMENT LTD Added +80,486+80.5k
Genus Capital Management Inc. New +75,165+75.2k
1832 Asset Management L.P. Added +71,041+71.0k

Biggest sellers

MACKENZIE FINANCIAL CORP Reduced -3,451,402-3.5m
FIL Ltd Reduced -700,587-700.6k
Alberta Investment Management Corp Reduced -135,915-135.9k
Connor, Clark & Lunn Investment Management Ltd. Reduced -99,090-99.1k
Hillsdale Investment Management Inc. Reduced -97,700-97.7k
MANUFACTURERS LIFE INSURANCE COMPANY, THE Reduced -72,179-72.2k
Quadrature Capital Ltd Sold out -48,900-48.9k
MORGAN STANLEY Reduced -43,262-43.3k
TD Asset Management Inc Reduced -28,328-28.3k
Forge First Asset Management Inc. Reduced -27,500-27.5k

Biggest calls

SIG North Trading, ULC Added $1.3m27.5k shares
BANK OF MONTREAL /CAN/ New $46.6k1.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

SIG North Trading, ULC Added $1.8m37.8k shares
ROYAL BANK OF CANADA New $1.5m32.9k shares
BANK OF MONTREAL /CAN/ New $28.0k600 shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 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
BANK OF MONTREAL /CAN/ 13G · institution filed 2025-08-06 7.2% 4.5m 2025-08-06
ROYAL BANK OF CANADA 13G · institution new · filed 2025-12-02 5.5% new 3.3m 2025-12-02

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.

None reported in Q1 2025.

Holders, Q1 2025

#ManagerLocationShares Value% of their portfolioChangeShares change
1 1832 Asset Management L.P. 0.46% of their portfolio TORONTO, A6 5,092,1395.1m $238.4m $238.4m 0.46% Added +71.0k +71,041
2 ROYAL BANK OF CANADA 0.05% of their portfolio TORONTO, A6 4,411,0804.4m $206.5m $206.5m 0.05% Added +65.1k +65,127
3 BANK OF MONTREAL /CAN/ 0.09% of their portfolio TORONTO, A6 3,706,6913.7m $172.7m $172.7m 0.09% Added +15.8k +15,847
4 CIBC Asset Management Inc 0.57% of their portfolio TORONTO, Z4 3,659,0333.7m $172.0m $172.0m 0.57% Added +150.3k +150,318
5 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 2,871,3282.9m $133.8m $133.8m 0.00% Added +29.6k +29,621
6 MACKENZIE FINANCIAL CORP 0.11% of their portfolio TORONTO ONTARIO, A6 1,722,8991.7m $80.3m $80.3m 0.11% Reduced -3.5m -3,451,402
7 AGF MANAGEMENT LTD 0.40% of their portfolio TORONTO, A6 1,612,8381.6m $75.1m $75.1m 0.40% Added +80.5k +80,486
8 Connor, Clark & Lunn Investment Management Ltd. 0.26% of their portfolio VANCOUVER, A1 1,291,8831.3m $60.2m $60.2m 0.26% Reduced -99.1k -99,090
9 FIL Ltd 0.04% of their portfolio HAMILTON, D0 959,291959.3k $44.7m $44.7m 0.04% Reduced -700.6k -700,587
10 NORGES BANK 0.01% of their portfolio OSLO, Q8 798,627798.6k $37.2m $37.2m 0.01% Unchanged
11 INTACT INVESTMENT MANAGEMENT INC. 1.26% of their portfolio MONTREAL, A8 788,110788.1k $36.7m $36.7m 1.26% Added +163.7k +163,700
12 MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio Boston, MA 644,832644.8k $30.2m $30.2m 0.01% Reduced -7.4k -7,425
13 CIBC WORLD MARKET INC. 0.06% of their portfolio TORONTO, A6 580,523580.5k $27.1m $27.1m 0.06% Added +92.5k +92,504
14 TD Waterhouse Canada Inc. 0.17% of their portfolio TORONTO, A6 438,412438.4k $20.3m $20.3m 0.17% Added +27.8k +27,768
15 ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio BOSTON, MA 421,070421.1k $19.7m $19.7m 0.02% Added +163.5k +163,537
16 Legal & General Group Plc 0.00% of their portfolio London, X0 355,250355.2k $16.6m $16.6m 0.00% Added +10.3k +10,313
17 MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio Toronto, A6 338,078338.1k $15.8m $15.8m 0.01% Reduced -72.2k -72,179
18 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 331,138331.1k $15.5m $15.5m 0.00% Added +195.4k +195,408
19 Cardinal Capital Management, Inc. 0.50% of their portfolio WINNIPEG, A2 315,590315.6k $14.7m $14.7m 0.50% Reduced -790 -790
20 Man Group plc 0.04% of their portfolio LONDON, X0 287,489287.5k $13.4m $13.4m 0.04% Added +157.5k +157,500
21 MONTRUSCO BOLTON INVESTMENTS INC. 0.16% of their portfolio MONTREAL, A8 266,131266.1k $12.4m $12.4m 0.16% Reduced -19.1k -19,119
22 GUARDIAN CAPITAL LP 0.48% of their portfolio TORONTO, A6 262,749262.7k $12.2m $12.2m 0.48% Reduced -12.5k -12,476
23 TD Asset Management Inc 0.01% of their portfolio Toronto, A6 260,883260.9k $12.2m $12.2m 0.01% Reduced -28.3k -28,328
24 APG Asset Management US Inc. 0.09% of their portfolio New York, NY 250,000250.0k $11.6m $11.6m 0.09% Unchanged
25 ACADIAN ASSET MANAGEMENT LLC 0.03% of their portfolio Boston, MA 207,359207.4k $9.7m $9.7m 0.03% New
26 CIDEL ASSET MANAGEMENT INC 0.60% of their portfolio TORONTO, A6 196,969197.0k $9.2m $9.2m 0.60% Reduced -6.1k -6,066
27 Balyasny Asset Management L.P. 0.02% of their portfolio Chicago, IL 152,308152.3k $7.1m $7.1m 0.02% Added +38.2k +38,161
28 Clearbridge Investments, LLC 0.01% of their portfolio NEW YORK, NY 147,800147.8k $6.9m $6.9m 0.01% Added +4.2k +4,227
29 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 142,450142.4k $6.6m $6.6m 0.00% Reduced -2.8k -2,792
30 SCOTIA CAPITAL INC. 0.03% of their portfolio TORONTO, A6 138,306138.3k $6.4m $6.4m 0.03% Reduced -2.3k -2,345
31 NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio MONTREAL, A8 129,316129.3k $6.0m $6.0m 0.01% Added +10.5k +10,501
32 Cumberland Partners Ltd 0.44% of their portfolio TORONTO, A6 122,250122.2k $5.7m $5.7m 0.44% Added +9.8k +9,750
33 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 118,372118.4k $5.5m $5.5m 0.00% Added +19.7k +19,728
34 Anson Funds Management LP 1.15% of their portfolio DALLAS, TX 104,054104.1k $4.8m $4.8m 1.15% Reduced -25.4k -25,446
35 MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 0.60% of their portfolio MISSISSAUGA, A6 101,364101.4k $4.7m $4.7m 0.60% Not comparable
36 Forge First Asset Management Inc. 1.98% of their portfolio TORONTO, Z4 95,80095.8k $4.5m $4.5m 1.98% Reduced -27.5k -27,500
37 Baskin Financial Services Inc. 0.36% of their portfolio TORONTO, A6 95,34095.3k $4.4m $4.4m 0.36% Reduced -4.1k -4,121
38 Federation des caisses Desjardins du Quebec 0.02% of their portfolio LEVIS, A8 95,19295.2k $4.4m $4.4m 0.02% Reduced -19.2k -19,202
39 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 94,52494.5k $4.4m $4.4m 0.00% Reduced -43.3k -43,262
40 NICOLA WEALTH MANAGEMENT LTD. 0.41% of their portfolio VANCOUVER, A1 90,50090.5k $4.2m $4.2m 0.41% Reduced -20.0k -20,000
41 Aviso Financial Inc. 0.20% of their portfolio TORONTO, A6 86,44786.4k $4.0m $4.0m 0.20% Reduced -20.0k -19,980
42 DEUTSCHE BANK AG\ 0.00% of their portfolio FRANKFURT AM MAIN, 2M 85,19085.2k $4.0m $4.0m 0.00% Added +256 +256
43 Gold Investment Management Ltd. 1.64% of their portfolio EDMONTON, A0 83,47183.5k $3.9m $3.9m 1.64% Added +4.2k +4,212
44 JANUS HENDERSON GROUP PLC 0.00% of their portfolio LONDON, X0 81,14481.1k $3.8m $3.8m 0.00% Unchanged
45 Addenda Capital Inc. 0.19% of their portfolio MONTREAL, A8 76,16376.2k $5.1m $5.1m 0.19% Reduced -3.9k -3,880
46 Genus Capital Management Inc. 0.51% of their portfolio VANCOUVER, A1 75,16575.2k $3.5m $3.5m 0.51% New
47 Swiss National Bank 0.00% of their portfolio ZURICH, V8 63,50063.5k $3.0m $3.0m 0.00% Unchanged
48 Tacita Capital Inc 1.79% of their portfolio TORONTO, A6 53,44053.4k $2.5m $2.5m 1.79% Added +5.7k +5,699
49 Alberta Investment Management Corp 0.02% of their portfolio EDMONTON, A0 51,00051.0k $2.4m $2.4m 0.02% Reduced -135.9k -135,915
50 HSBC HOLDINGS PLC 0.00% of their portfolio LONDON, X0 47,64047.6k $2.2m $2.2m 0.00% Added +2.7k +2,657
51 Canoe Financial LP 0.03% of their portfolio CALGARY, A0 43,59543.6k $2.0m $2.0m 0.03% Reduced -6.6k -6,630
52 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 43,10043.1k $2.0m $2.0m 0.00% Reduced -500 -500
53 NORTHERN TRUST CORP 0.00% of their portfolio CHICAGO, IL 43,01943.0k $2.0m $2.0m 0.00% Added +4.8k +4,790
54 Burgundy Asset Management Ltd. 0.02% of their portfolio Toronto, A6 39,74539.7k $1.9m $1.9m 0.02% New
55 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 37,38537.4k $1.8m $1.8m 0.00% Added +12.6k +12,561
56 Amundi 0.00% of their portfolio Paris, I0 37,13337.1k $1.7m $1.7m 0.00% Added +2.5k +2,470
57 MACQUARIE GROUP LTD 0.00% of their portfolio Sydney, NSW 2000, C3 35,52635.5k $2.4m $2.4m 0.00% New
58 BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio VICTORIA, A1 35,06335.1k $1.6m $1.6m 0.01% Added +6.9k +6,934
59 PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.01% of their portfolio COLUMBUS, OH 33,93233.9k $1.6m $1.6m 0.01% Added +23.3k +23,284
60 Huber Capital Management LLC 0.25% of their portfolio EL SEGUNDO, CA 28,25628.3k $1.3m $1.3m 0.25% Added +3.0k +3,000
61 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 27,48027.5k $1.3m $1.3m 0.00% First filing
62 D. E. Shaw & Co., Inc. 0.00% of their portfolio New York, NY 26,26826.3k $1.2m $1.2m 0.00% Reduced -19.0k -19,000
63 ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio NASHVILLE, TN 22,23022.2k $1.0m $1.0m 0.00% Added +6.5k +6,452
64 SIG North Trading, ULC 0.21% of their portfolio Bala Cynwyd, PA 21,53221.5k $1.0m $1.0m 0.21% Added +16.1k +16,085
65 TORONTO DOMINION BANK 0.00% of their portfolio TORONTO, ONTARIO, A6 20,51720.5k $956.0k $956.0k 0.00% Added +6.2k +6,217
66 Versor Investments LP 0.15% of their portfolio New York, NY 19,20019.2k $894.7k $894.7k 0.15% Added +9.7k +9,700
67 Russell Investments Group, Ltd. 0.00% of their portfolio Seattle, WA 18,42418.4k $858.3k $858.3k 0.00% Reduced -25.8k -25,784
68 UniSuper Management Pty Ltd 0.01% of their portfolio Melbourne, Victoria, C3 17,90017.9k $1.2m $1.2m 0.01% Unchanged
69 Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio ZURICH, V8 17,48117.5k $814.4k $814.4k 0.00% Added +1.9k +1,892
70 GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio BOSTON, MA 16,44716.4k $781.1k $781.1k 0.00% Added +1.1k +1,140
71 UBS Group AG 0.00% of their portfolio ZURICH, V8 16,22616.2k $759.7k $759.7k 0.00% Added +13.1k +13,054
72 AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio KANSAS CITY, MO 13,20913.2k $615.5k $615.5k 0.00% Added +555 +555
73 Beverly Hills Private Wealth, LLC 0.12% of their portfolio BEVERLY HILLS, CA 12,62312.6k $591.0k $591.0k 0.12% New
74 VAN ECK ASSOCIATES CORP 0.00% of their portfolio NEW YORK, NY 12,56512.6k $586.0k $586.0k 0.00% Added +503 +503
75 PINEBRIDGE INVESTMENTS, L.P. 0.01% of their portfolio NEW YORK, NY 11,61311.6k $778.7k $778.7k 0.01% Reduced -2.6k -2,612
76 PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio DES MOINES, IA 11,20011.2k $521.8k $521.8k 0.00% Reduced -100 -100
77 AMERIPRISE FINANCIAL INC 0.00% of their portfolio MINNEAPOLIS, MN 9,7599.8k $651.8k $651.8k 0.00% Added +2.4k +2,400
78 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 9,6649.7k $452.5k $452.5k 0.00% Unchanged
79 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 9,4429.4k $440.0k $440.0k 0.00% Reduced -2.7k -2,665
80 BANK OF NOVA SCOTIA TRUST CO 0.04% of their portfolio TORONTO, A6 8,7248.7k $408.5k $408.5k 0.04% Added +703 +703
81 Cullen Capital Management, LLC 0.00% of their portfolio New York, NY 8,1908.2k $383.7k $383.7k 0.00% New
82 Weil Company, Inc. 0.10% of their portfolio SAN DIEGO, CA 7,2187.2k $338.0k $338.0k 0.10% Unchanged
83 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio NEW YORK, NY 6,7696.8k $316.9k $316.9k 0.00% Unchanged
84 Northwest & Ethical Investments L.P. 0.01% of their portfolio TORONTO, A6 5,4335.4k $253.3k $253.3k 0.01% Added +1.3k +1,284
85 JANE STREET GROUP, LLC 0.00% of their portfolio NEW YORK, NY 5,3765.4k $251.7k $251.7k 0.00% New
86 Integrated Wealth Concepts LLC 0.00% of their portfolio WALTHAM, MA 4,4054.4k $206.2k $206.2k 0.00% Reduced -5.0k -4,990
87 M&G PLC 0.00% of their portfolio London, X0 3,9884.0k $185.7k $185.7k 0.00% New
88 Mitsubishi UFJ Trust & Banking Corp 0.00% of their portfolio TOKYO, M0 3,1003.1k $145.3k $145.3k 0.00% New
89 LOUISBOURG INVESTMENTS INC. 0.03% of their portfolio DIEPPE, A3 2,4002.4k $111.9k $111.9k 0.03% New
90 CITIGROUP INC 0.00% of their portfolio NEW YORK, NY 2,1622.2k $100.7k $100.7k 0.00% Added +72 +72
91 WELLS FARGO & COMPANY/MN 0.00% of their portfolio SAN FRANCISCO, CA 1,6911.7k $79.2k $79.2k 0.00% Unchanged
92 Employees Retirement System of Texas 0.00% of their portfolio AUSTIN, TX 1,5491.5k $73.0k $73.0k 0.00% Unchanged
93 SHELL ASSET MANAGEMENT CO 0.00% of their portfolio THE HAGUE, P7 1,0971.1k $51.0k $51.0k 0.00% Reduced -200 -200
94 BANK OF AMERICA CORP /DE/ 0.00% of their portfolio CHARLOTTE, NC 1,0001.0k $46.8k $46.8k 0.00% Reduced -4.2k -4,193
95 Pacifica Partners Inc. 0.01% of their portfolio SURREY, Z4 590590 $27.2k $27.2k 0.01% Unchanged
96 BlackRock, Inc. 0.00% of their portfolio New York, NY 481481 $22.5k $22.5k 0.00% Reduced -66 -66
97 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 440440 $20.6k $20.6k 0.00% Added +435 +435
98 NATIXIS 0.00% of their portfolio PARIS, I0 170170 $7.9k $7.9k 0.00% Added +21 +21
99 Hillsdale Investment Management Inc. 0.00% of their portfolio Toronto, A6 9090 $4.2k $4.2k 0.00% Reduced -97.7k -97,700
100 Ravenstone Capital Management Inc. 0.00% of their portfolio TORONTO, A6 4040 $1.9k $1.9k 0.00% New