Vault-13

GRANITE REAL ESTATE INVT TR GRTUF

TR UNIT NEW · REIT · CUSIP 387437205

18 institutional holders -75 vs Q4 2025
2,037,9892.0m shares reported held*
$120.1mreported value*
2 new 6 added 7 reduced 76 sold out net sold ≈ $1.7bn (-28.7m 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. Holder counts are more reliable. Implied quarter-end price ≈ $58.93.

Trends to Q1 2026

Institutional holders

Managers reporting a position, each quarter

050100150Q3 24: 2Q4 24: 91Q1 25: 101Q2 25: 97Q3 25: 88Q4 25: 93Q1 26: 1818Q3 24Q1 25Q3 25Q1 26
Numbers
QuarterHolders
Q3 20242
Q4 202491
Q1 2025101
Q2 202597
Q3 202588
Q4 202593
Q1 202618

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 25Q2 25: 42 bought or addedQ2 25: 47 cut or sold outQ2 25Q3 25: 34 bought or addedQ3 25: 50 cut or sold outQ3 25Q4 25: 45 bought or addedQ4 25: 40 cut or sold outQ4 25Q1 26: 8 bought or addedQ1 26: 83 cut or sold outQ1 26
Numbers
QuarterBought or addedCut or sold out
Q4 2024900
Q1 20255435
Q2 20254247
Q3 20253450
Q4 20254540
Q1 2026883

Calls vs puts

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

CallsPuts
$0$1m$2m$3mQ2 25 calls: $2.2mQ2 25 puts: $2.7mQ2 25P/C 1.22Q3 25 calls: $2.3mQ3 25 puts: $1.1mQ3 25P/C 0.48Q4 25 calls: $2.4mQ4 25 puts: $0Q4 25P/C 0.00Q1 26 calls: $0Q1 26 puts: $0Q1 26P/C —
Numbers
QuarterCallsPutsP/C
Q2 2025$2.2m$2.7m1.22
Q3 2025$2.3m$1.1m0.48
Q4 2025$2.4m$00.00
Q1 2026$0$0—

Biggest buyers

ACADIAN ASSET MANAGEMENT LLC Added +206,783+206.8k
Quadrature Capital Ltd New +133,200+133.2k
Triasima Portfolio Management inc. New +117,603+117.6k
TD Waterhouse Canada Inc. Added +112,113+112.1k
Canoe Financial LP Added +16,473+16.5k
Investment Management Corp of Ontario Added +1,200+1.2k
BARCLAYS PLC Added +376+376
Gold Investment Management Ltd. Added +273+273

Biggest sellers

ROYAL BANK OF CANADA Sold out -5,048,548-5.0m
1832 Asset Management L.P. Sold out -4,774,189-4.8m
BANK OF MONTREAL /CAN/ Sold out -3,864,635-3.9m
CIBC Asset Management Inc Sold out -2,878,226-2.9m
Connor, Clark & Lunn Investment Management Ltd. Sold out -2,293,237-2.3m
MACKENZIE FINANCIAL CORP Sold out -1,615,139-1.6m
INTACT INVESTMENT MANAGEMENT INC. Sold out -1,194,147-1.2m
AGF MANAGEMENT LTD Sold out -785,147-785.1k
CIBC WORLD MARKET INC. Sold out -648,415-648.4k
Man Group plc Sold out -499,297-499.3k

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 2026

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 2026.

Holders, Q1 2026

#ManagerLocationShares Value% of their portfolioChangeShares change
1 TD Waterhouse Canada Inc. 0.07% of their portfolio TORONTO, A6 392,125392.1k $23.2m $23.2m 0.07% Added +112.1k +112,113
2 ACADIAN ASSET MANAGEMENT LLC 0.02% of their portfolio Boston, MA 277,244277.2k $16.2m $16.2m 0.02% Added +206.8k +206,783
3 Cardinal Capital Management, Inc. 0.43% of their portfolio WINNIPEG, A2 269,724269.7k $15.8m $15.8m 0.43% Reduced -10.5k -10,491
4 GUARDIAN CAPITAL LP 0.42% of their portfolio TORONTO, A6 268,462268.5k $15.7m $15.7m 0.42% Reduced -1.5k -1,499
5 Purpose Unlimited Inc. 0.40% of their portfolio TORONTO, A6 164,454164.5k $9.7m $9.7m 0.40% Reduced -711 -711
6 Quadrature Capital Ltd 0.09% of their portfolio LONDON, X0 133,200133.2k $7.8m $7.8m 0.09% New
7 Triasima Portfolio Management inc. 1.04% of their portfolio MONTREAL, A8 117,603117.6k $6.9m $6.9m 1.04% New
8 MORGUARD LINCLUDEN GLOBAL INVESTMENTS Ltd 0.67% of their portfolio MISSISSAUGA, A6 104,627104.6k $6.2m $6.2m 0.67% Reduced -7.5k -7,517
9 Gold Investment Management Ltd. 1.52% of their portfolio EDMONTON, A0 83,40083.4k $4.9m $4.9m 1.52% Added +273 +273
10 Baskin Financial Services Inc. 0.39% of their portfolio TORONTO, A6 80,88080.9k $4.8m $4.8m 0.39% Reduced -3.1k -3,052
11 Canoe Financial LP 0.05% of their portfolio CALGARY, A0 60,72960.7k $3.6m $3.6m 0.05% Added +16.5k +16,473
12 AEGON ASSET MANAGEMENT UK Plc 0.02% of their portfolio EDINBURGH, X0 32,02432.0k $1.9m $1.9m 0.02% Not comparable
13 Nuveen, LLC 0.00% of their portfolio CHARLOTTE, NC 22,60122.6k $1.3m $1.3m 0.00% Reduced -38.8k -38,841
14 UniSuper Management Pty Ltd 0.01% of their portfolio Melbourne, Victoria, C3 12,40012.4k $1.0m $1.0m 0.01% Unchanged
15 Investment Management Corp of Ontario 0.01% of their portfolio Toronto, Z4 8,6128.6k $505.1k $505.1k 0.01% Added +1.2k +1,200
16 Northwest & Ethical Investments L.P. 0.01% of their portfolio TORONTO, A6 7,0037.0k $411.5k $411.5k 0.01% Reduced -290 -290
17 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 2,8942.9k $169.7k $169.7k 0.00% Added +376 +376
18 Farther Finance Advisors, LLC 0.00% of their portfolio SAN FRANCISCO, CA 77 $424 $424 0.00% Unchanged