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 ($6.0m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $59.88. Options: 3 managers hold calls ($2.4m notional), 0 hold puts (—).
Trends to Q4 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 |
| Q4 2025 | 93 |
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 |
| Q4 2025 | 45 | 40 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $1.3m | $3.3m | 2.50 |
| Q2 2025 | $2.2m | $2.7m | 1.22 |
| Q3 2025 | $2.3m | $1.1m | 0.48 |
| Q4 2025 | $2.4m | $0 | 0.00 |
Biggest buyers
| ROYAL BANK OF CANADA | Added | +190.8k |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +155.8k |
| NATIONAL BANK OF CANADA /FI/ | Added | +107.1k |
| TORONTO DOMINION BANK | Added | +73.0k |
| INTACT INVESTMENT MANAGEMENT INC. | Added | +64.5k |
| TWO SIGMA INVESTMENTS, LP | New | +56.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Added | +56.3k |
| Man Group plc | Added | +56.2k |
| MORGAN STANLEY | Added | +51.7k |
| Russell Investments Group, Ltd. | Added | +51.5k |
Biggest sellers
| AGF MANAGEMENT LTD | Reduced | -330.8k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | Reduced | -249.3k |
| BANK OF MONTREAL /CAN/ | Reduced | -199.1k |
| GOLDMAN SACHS GROUP INC | Reduced | -156.0k |
| UBS Group AG | Reduced | -110.2k |
| NICOLA WEALTH MANAGEMENT LTD. | Sold out | -90.5k |
| HSBC HOLDINGS PLC | Sold out | -71.4k |
| MACKENZIE FINANCIAL CORP | Reduced | -53.1k |
| JPMORGAN CHASE & CO | Reduced | -44.7k |
| FIL Ltd | Reduced | -42.1k |
Biggest calls
| SIG North Trading, ULC | Reduced | $1.2m20.5k shares |
| TORONTO DOMINION BANK | Added | $1.2m19.5k shares |
| BANK OF MONTREAL /CAN/ | Reduced | $29.8k500 shares |
Biggest puts
| None |
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 Q4 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 Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| ROYAL BANK OF CANADA 0.05% of their portfolio | 5.0m $298.8m | Added +190.8k |
| 1832 Asset Management L.P. 0.36% of their portfolio | 4.8m $282.6m | Reduced -35.6k |
| BANK OF MONTREAL /CAN/ 0.09% of their portfolio | 3.9m $230.1m | Reduced -199.1k |
| CIBC Asset Management Inc 0.42% of their portfolio | 2.9m $173.0m | Reduced -31.9k |
| VANGUARD GROUP INC 0.00% of their portfolio | 2.9m $171.0m | Added +17.0k |
| Connor, Clark & Lunn Investment Management Ltd. 0.36% of their portfolio | 2.3m $136.5m | Added +155.8k |
| MACKENZIE FINANCIAL CORP 0.11% of their portfolio | 1.6m $96.2m | Reduced -53.1k |
| INTACT INVESTMENT MANAGEMENT INC. 2.04% of their portfolio | 1.2m $71.1m | Added +64.5k |
| NORGES BANK 0.01% of their portfolio | 798.6k $47.5m | Not comparable |
| AGF MANAGEMENT LTD 0.20% of their portfolio | 785.1k $46.7m | Reduced -330.8k |
| CIBC WORLD MARKET INC. 0.07% of their portfolio | 648.4k $38.6m | Reduced -15.8k |
| Man Group plc 0.06% of their portfolio | 499.3k $29.8m | Added +56.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.02% of their portfolio | 482.7k $28.6m | Added +56.3k |
| TD Asset Management Inc 0.02% of their portfolio | 463.5k $27.6m | Added +50.1k |
| FIL Ltd 0.02% of their portfolio | 368.9k $22.0m | Reduced -42.1k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.02% of their portfolio | 363.3k $21.7m | Added +6.0k |
| Legal & General Group Plc 0.00% of their portfolio | 362.5k $21.6m | Added +45.6k |
| Cardinal Capital Management, Inc. 0.51% of their portfolio | 280.2k $22.9m | Reduced -24.0k |
| TD Waterhouse Canada Inc. 0.10% of their portfolio | 280.0k $16.6m | Reduced -39.7k |
| GUARDIAN CAPITAL LP 0.48% of their portfolio | 270.0k $16.1m | Reduced -2.0k |
| APG Asset Management US Inc. 0.12% of their portfolio | 250.0k $14.9m | Unchanged |
| NATIONAL BANK OF CANADA /FI/ 0.01% of their portfolio | 225.1k $13.3m | Added +107.1k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 222.2k $13.1m | Reduced -156.0k |
| MONTRUSCO BOLTON INVESTMENTS INC. 0.16% of their portfolio | 210.3k $12.5m | Reduced -41.7k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 180.1k $10.7m | Added +13.5k |
| SCOTIA CAPITAL INC. 0.04% of their portfolio | 166.7k $9.9m | Added +6.6k |
| Aviso Financial Inc. 0.38% of their portfolio | 166.1k $9.9m | Reduced -2.4k |
| Purpose Unlimited Inc. 0.45% of their portfolio | 165.2k $9.8m | First filing |
| Clearbridge Investments, LLC 0.01% of their portfolio | 139.9k $11.4m | Reduced -5.3k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 134.0k $8.0m | Added +51.5k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 127.5k $7.5m | Added +40.5k |
| Cumberland Partners Ltd 0.46% of their portfolio | 126.9k $7.6m | Added +2.5k |
| Invesco Ltd. 0.00% of their portfolio | 116.7k $6.9m | Added +4.0k |
| CIDEL ASSET MANAGEMENT INC 0.49% of their portfolio | 115.4k $6.9m | Reduced -2.0k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.00% of their portfolio | 114.6k $6.8m | Reduced -249.3k |
| Federation des caisses Desjardins du Quebec 0.03% of their portfolio | 114.4k $6.8m | Reduced -1.9k |
| MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 0.78% of their portfolio | 112.1k $9.2m | Unchanged |
| TORONTO DOMINION BANK 0.01% of their portfolio | 97.0k $5.8m | Added +73.0k |
| MORGAN STANLEY 0.00% of their portfolio | 92.7k $5.5m | Added +51.7k |
| Baskin Financial Services Inc. 0.38% of their portfolio | 83.9k $5.0m | Reduced -2.0k |
| Gold Investment Management Ltd. 1.58% of their portfolio | 83.1k $4.9m | Added +271 |
| Addenda Capital Inc. 0.18% of their portfolio | 75.5k $6.2m | Reduced -2.6k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 74.5k $4.4m | Reduced -44.7k |
| ACADIAN ASSET MANAGEMENT LLC 0.01% of their portfolio | 70.5k $4.2m | Reduced -6.0k |
| Swiss National Bank 0.00% of their portfolio | 63.5k $3.8m | Unchanged |
| Nuveen, LLC 0.00% of their portfolio | 61.4k $3.7m | Added +38.8k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 56.3k $3.3m | New |
| Tacita Capital Inc 1.90% of their portfolio | 55.1k $3.3m | Unchanged |
| Hillsdale Investment Management Inc. 0.08% of their portfolio | 48.6k $2.9m | Added +480 |
| Genus Capital Management Inc. 0.34% of their portfolio | 48.5k $2.9m | Added +1.2k |
| Canoe Financial LP 0.04% of their portfolio | 44.3k $2.6m | Added +5.2k |
| Anson Funds Management LP 0.31% of their portfolio | 38.2k $2.3m | New |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 32.2k $1.9m | Reduced -10.4k |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.01% of their portfolio | 32.2k $1.9m | Reduced -3.1k |
| Alberta Investment Management Corp 0.01% of their portfolio | 31.7k $1.9m | Added +8.2k |
| NEUBERGER BERMAN GROUP LLC 0.00% of their portfolio | 30.4k $1.8m | Added +15.2k |
| PICTON MAHONEY ASSET MANAGEMENT 0.02% of their portfolio | 29.5k $1.8m | Reduced -329 |
| Huber Capital Management LLC 0.23% of their portfolio | 26.3k $1.6m | Unchanged |
| Amundi 0.00% of their portfolio | 26.2k $1.6m | Added +74 |
| TWO SIGMA ADVISERS, LP 0.00% of their portfolio | 23.9k $1.4m | New |
| CAUSEWAY CAPITAL MANAGEMENT LLC 0.02% of their portfolio | 23.7k $1.4m | Unchanged |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 23.3k $1.4m | Added +4.7k |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 21.3k $1.3m | Reduced -7.6k |
| Beverly Hills Private Wealth, LLC 0.21% of their portfolio | 20.9k $1.2m | Added +3.0k |
| JANE STREET GROUP, LLC 0.00% of their portfolio | 18.1k $1.1m | Reduced -23.9k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 17.9k $1.1m | Reduced -20.3k |
| AMERICAN CENTURY COMPANIES INC 0.00% of their portfolio | 17.9k $1.1m | Added +2.8k |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 16.3k $970.0k | Added +1.5k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 15.5k $922.6k | Added +567 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 13.4k $794.9k | Added +482 |
| UniSuper Management Pty Ltd 0.01% of their portfolio | 12.4k $1.0m | Reduced -5.0k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 12.4k $732.8k | Reduced -5.1k |
| FRANKLIN RESOURCES INC 0.00% of their portfolio | 11.9k $709.5k | Added +322 |
| FMR LLC 0.00% of their portfolio | 10.9k $649.8k | New |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 10.9k $649.5k | Reduced -688 |
| Versor Investments LP 0.08% of their portfolio | 8.8k $526.2k | New |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 8.4k $685.5k | Reduced -834 |
| Cullen Capital Management, LLC 0.01% of their portfolio | 8.2k $488.6k | Unchanged |
| BANK OF NOVA SCOTIA TRUST CO 0.04% of their portfolio | 8.0k $471.3k | Reduced -212 |
| Investment Management Corp of Ontario 0.01% of their portfolio | 7.4k $438.7k | New |
| Northwest & Ethical Investments L.P. 0.01% of their portfolio | 7.3k $434.2k | Added +2.0k |
| Weil Company, Inc. 0.10% of their portfolio | 7.2k $427.3k | Unchanged |
| PRINCIPAL FINANCIAL GROUP INC 0.00% of their portfolio | 6.7k $399.4k | Reduced -500 |
| UBS Group AG 0.00% of their portfolio | 5.5k $325.7k | Reduced -110.2k |
| ALGERT GLOBAL LLC 0.00% of their portfolio | 4.3k $254.0k | Added +362 |
| Public Sector Pension Investment Board 0.00% of their portfolio | 3.5k $210.1k | New |
| BARCLAYS PLC 0.00% of their portfolio | 2.5k $149.0k | Added +84 |
| LOUISBOURG INVESTMENTS INC. 0.03% of their portfolio | 2.4k $143.1k | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 1.0k $59.2k | Unchanged |
| BlackRock, Inc. 0.00% of their portfolio | 456 $27.0k | Reduced -25 |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 452 $26.8k | Added +4 |
| CITIGROUP INC 0.00% of their portfolio | 371 $22.1k | Reduced -1.2k |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 7 $414 | New |