GRANITE REAL ESTATE INVT TR GRTUF
TR UNIT NEW · REIT · CUSIP 387437205
- SectorReal estate
- IndustryReal Estate Investment Trusts
- 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 ($1.6m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $53.86. Options: 3 managers hold calls ($2.3m notional), 2 hold puts ($1.1m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2024 | 2 |
| Q4 2024 | 91 |
| Q1 2025 | 101 |
| Q2 2025 | 97 |
| Q3 2025 | 88 |
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 2024 | 90 | 0 |
| Q1 2025 | 54 | 35 |
| Q2 2025 | 42 | 47 |
| Q3 2025 | 34 | 50 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $1.3m | $7.6m | 5.72 |
| Q1 2025 | $1.3m | $3.3m | 2.50 |
| Q2 2025 | $2.2m | $2.7m | 1.22 |
| Q3 2025 | $2.3m | $1.1m | 0.48 |
Biggest buyers
| Connor, Clark & Lunn Investment Management Ltd. | Added | +879.9k |
| INTACT INVESTMENT MANAGEMENT INC. | Added | +265.2k |
| TD Asset Management Inc | Added | +202.3k |
| Man Group plc | Added | +131.5k |
| JPMORGAN CHASE & CO | New | +119.2k |
| BANK OF MONTREAL /CAN/ | Added | +98.4k |
| Aviso Financial Inc. | Added | +79.3k |
| GOLDMAN SACHS GROUP INC | Added | +78.2k |
| Russell Investments Group, Ltd. | Added | +50.1k |
| Hillsdale Investment Management Inc. | Added | +32.1k |
Biggest sellers
| ROYAL BANK OF CANADA | Reduced | -4.2m |
| 1832 Asset Management L.P. | Reduced | -478.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -305.2k |
| AGF MANAGEMENT LTD | Reduced | -239.4k |
| CIBC Asset Management Inc | Reduced | -167.7k |
| FIL Ltd | Reduced | -99.0k |
| CIDEL ASSET MANAGEMENT INC | Reduced | -79.9k |
| JANUS HENDERSON GROUP PLC | Sold out | -63.8k |
| TD Waterhouse Canada Inc. | Reduced | -40.0k |
| Legal & General Group Plc | Reduced | -37.7k |
Biggest calls
| SIG North Trading, ULC | Reduced | $1.4m24.7k shares |
| TORONTO DOMINION BANK | Unchanged | $900.0k16.2k shares |
| BANK OF MONTREAL /CAN/ | New | $48.1k1.2k shares |
Biggest puts
| SIG North Trading, ULC | Reduced | $1.1m19.2k shares |
| TORONTO DOMINION BANK | New | $55.6k1.0k 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 |
|---|---|
| BANK OF MONTREAL /CAN/ 13G · institution filed 2025-08-06 | 7.2% |
| ROYAL BANK OF CANADA 13G · institution new · filed 2025-12-02 | 5.5% |
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.
None reported in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.05% of their portfolio | 4.9m $270.8m | Reduced -4.2m |
| 1832 Asset Management L.P. 0.45% of their portfolio | 4.8m $268.1m | Reduced -478.8k |
| BANK OF MONTREAL /CAN/ 0.07% of their portfolio | 4.1m $162.7m | Added +98.4k |
| CIBC Asset Management Inc 0.47% of their portfolio | 2.9m $162.8m | Reduced -167.7k |
| VANGUARD GROUP INC 0.00% of their portfolio | 2.9m $158.7m | Reduced -37.4k |
| Connor, Clark & Lunn Investment Management Ltd. 0.37% of their portfolio | 2.1m $118.7m | Added +879.9k |
| MACKENZIE FINANCIAL CORP 0.11% of their portfolio | 1.7m $92.7m | Reduced -24.7k |
| INTACT INVESTMENT MANAGEMENT INC. 1.90% of their portfolio | 1.1m $62.8m | Added +265.2k |
| AGF MANAGEMENT LTD 0.27% of their portfolio | 1.1m $62.0m | Reduced -239.4k |
| CIBC WORLD MARKET INC. 0.08% of their portfolio | 664.2k $36.9m | Reduced -3.8k |
| Man Group plc 0.05% of their portfolio | 443.1k $24.6m | Added +131.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 426.4k $23.7m | Reduced -22.4k |
| TD Asset Management Inc 0.02% of their portfolio | 413.4k $23.0m | Added +202.3k |
| FIL Ltd 0.02% of their portfolio | 411.0k $22.8m | Reduced -99.0k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 378.1k $21.1m | Added +78.2k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.01% of their portfolio | 363.9k $20.3m | Reduced -305.2k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 357.3k $19.9m | Added +21.4k |
| TD Waterhouse Canada Inc. 0.12% of their portfolio | 319.8k $17.8m | Reduced -40.0k |
| Legal & General Group Plc 0.00% of their portfolio | 316.9k $17.6m | Reduced -37.7k |
| Cardinal Capital Management, Inc. 0.49% of their portfolio | 304.2k $16.9m | Reduced -10.9k |
| GUARDIAN CAPITAL LP 0.49% of their portfolio | 272.0k $15.1m | Reduced -2.5k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.16% of their portfolio | 251.9k $14.0m | Reduced -2.7k |
| APG Asset Management US Inc. 0.10% of their portfolio | 250.0k $14.0m | Unchanged |
| Aviso Financial Inc. 0.38% of their portfolio | 168.5k $9.4m | Added +79.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 166.6k $9.3m | Added +22.3k |
| SCOTIA CAPITAL INC. 0.04% of their portfolio | 160.0k $8.9m | Added +6.4k |
| Clearbridge Investments, LLC 0.01% of their portfolio | 145.1k $8.0m | Reduced -1.1k |
| Cumberland Partners Ltd 0.45% of their portfolio | 124.4k $6.9m | Added +1.2k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 119.2k $6.6m | New |
| NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio | 118.1k $6.5m | Reduced -837 |
| CIDEL ASSET MANAGEMENT INC 0.37% of their portfolio | 117.5k $6.5m | Reduced -79.9k |
| Federation des caisses Desjardins du Quebec 0.03% of their portfolio | 116.4k $6.5m | Added +20.1k |
| UBS Group AG 0.00% of their portfolio | 115.7k $6.4m | Added +5.5k |
| Invesco Ltd. 0.00% of their portfolio | 112.7k $6.3m | Reduced -27.7k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 0.69% of their portfolio | 112.1k $6.2m | Unchanged |
| NICOLA WEALTH MANAGEMENT LTD. 0.45% of their portfolio | 90.5k $5.0m | Unchanged |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 87.1k $4.9m | Added +1.0k |
| Baskin Financial Services Inc. 0.35% of their portfolio | 86.0k $4.8m | Added +2.3k |
| Gold Investment Management Ltd. 1.55% of their portfolio | 82.9k $4.6m | Reduced -217 |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 82.6k $4.6m | Added +50.1k |
| Addenda Capital Inc. 0.18% of their portfolio | 78.1k $6.1m | Added +1.2k |
| ACADIAN ASSET MANAGEMENT LLC 0.01% of their portfolio | 76.5k $4.2m | Reduced -36.3k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 71.4k $4.0m | Added +19.4k |
| Swiss National Bank 0.00% of their portfolio | 63.5k $3.5m | Unchanged |
| Tacita Capital Inc 1.85% of their portfolio | 55.1k $3.1m | Unchanged |
| Hillsdale Investment Management Inc. 0.08% of their portfolio | 48.1k $2.7m | Added +32.1k |
| Genus Capital Management Inc. 0.30% of their portfolio | 47.3k $2.6m | Added +7.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 42.6k $2.4m | Reduced -500 |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 41.9k $2.3m | Added +13.2k |
| MORGAN STANLEY 0.00% of their portfolio | 41.0k $2.3m | Reduced -5.4k |
| Burgundy Asset Management Ltd. 0.02% of their portfolio | 40.7k $2.3m | Unchanged |
| Canoe Financial LP 0.03% of their portfolio | 39.1k $2.2m | Reduced -210 |
| NORTHERN TRUST CORP 0.00% of their portfolio | 38.2k $2.1m | Unchanged |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio | 35.3k $2.0m | Reduced -1.9k |
| PICTON MAHONEY ASSET MANAGEMENT 0.02% of their portfolio | 29.8k $1.7m | Unchanged |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 28.9k $1.6m | Added +2.8k |
| Huber Capital Management LLC 0.23% of their portfolio | 26.3k $1.5m | Unchanged |
| Amundi 0.00% of their portfolio | 26.1k $1.5m | Reduced -5.0k |
| TORONTO DOMINION BANK 0.00% of their portfolio | 24.1k $1.3m | Reduced -8.9k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 23.7k $1.3m | New |
| Alberta Investment Management Corp 0.01% of their portfolio | 23.5k $1.3m | Reduced -27.5k |
| Nuveen, LLC 0.00% of their portfolio | 22.6k $1.3m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 18.6k $1.0m | Added +2.1k |
| Beverly Hills Private Wealth, LLC 0.18% of their portfolio | 18.0k $1.0m | Added +2.6k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 17.5k $973.1k | Added +15.8k |
| UniSuper Management Pty Ltd 0.01% of their portfolio | 17.4k $1.3m | Reduced -500 |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 15.2k $847.3k | New |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 15.0k $835.1k | Added +1.8k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 14.9k $828.7k | Reduced -1.3k |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 14.8k $824.0k | Added +1.1k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 12.9k $721.7k | Reduced -8.9k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 11.6k $644.2k | Added +4.7k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 11.6k $643.9k | Reduced -55 |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 9.3k $713.2k | Unchanged |
| Cullen Capital Management, LLC 0.00% of their portfolio | 8.2k $455.1k | Reduced -4.1k |
| BANK OF NOVA SCOTIA TRUST CO 0.04% of their portfolio | 8.2k $455.7k | Reduced -656 |
| Weil Company, Inc. 0.10% of their portfolio | 7.2k $402.3k | Unchanged |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 7.2k $400.2k | Reduced -700 |
| Northwest & Ethical Investments L.P. 0.01% of their portfolio | 5.3k $295.3k | Reduced -120 |
| ALGERT GLOBAL LLC 0.00% of their portfolio | 3.9k $216.6k | New |
| M&G PLC 0.00% of their portfolio | 3.9k $214.1k | New |
| BARCLAYS PLC 0.00% of their portfolio | 2.4k $135.7k | Reduced -6.3k |
| LOUISBOURG INVESTMENTS INC. 0.03% of their portfolio | 2.4k $133.3k | Unchanged |
| CITIGROUP INC 0.00% of their portfolio | 1.6k $89.5k | Reduced -110 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 1.0k $55.7k | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 481 $26.8k | Unchanged |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 448 $24.8k | Added +4 |
| NATIXIS 0.00% of their portfolio | 170 $9.4k | Unchanged |