ORION OFFICE REIT INC ONL
COM · REIT · CUSIP 68629Y103
- SectorReal estate
- IndustryReal Estate Investment Trusts
- HeadquartersPhoenix, AZ
- 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 ($145 this quarter). Holder counts are more reliable. Shares outstanding: 57.0m as of 2026-07-31, 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 ≈ $2.89. Options: 2 managers hold calls ($38.4k notional), 0 hold puts (—).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 293 |
| Q4 2022 | 298 |
| Q1 2023 | 294 |
| Q2 2023 | 269 |
| Q3 2023 | 269 |
| Q4 2023 | 256 |
| Q1 2024 | 240 |
| Q2 2024 | 243 |
| Q3 2024 | 244 |
| Q4 2024 | 253 |
| Q1 2025 | 231 |
| Q2 2025 | 213 |
| Q3 2025 | 199 |
| Q4 2025 | 196 |
| Q1 2026 | 192 |
| Q2 2026 | 197 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 99 | 85 |
| Q4 2024 | 85 | 103 |
| Q1 2025 | 70 | 105 |
| Q2 2025 | 79 | 114 |
| Q3 2025 | 54 | 96 |
| Q4 2025 | 55 | 87 |
| Q1 2026 | 55 | 77 |
| Q2 2026 | 72 | 72 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $35.9k | $0 | 0.00 |
| Q4 2025 | $60.8k | $0 | 0.00 |
| Q1 2026 | $60.2k | $0 | 0.00 |
| Q2 2026 | $38.4k | $0 | 0.00 |
Biggest buyers
| BlackRock, Inc. | Added | +2.9m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +734.9k |
| VANGUARD PORTFOLIO MANAGEMENT LLC | New | +362.9k |
| STATE STREET CORP | Added | +335.6k |
| Cambria Investment Management, L.P. | New | +324.4k |
| MARSHALL WACE, LLP | Added | +316.6k |
| NORTHERN TRUST CORP | Added | +295.2k |
| TWO SIGMA INVESTMENTS, LP | Added | +262.1k |
| RENAISSANCE TECHNOLOGIES LLC | Added | +159.7k |
| Bank of New York Mellon Corp | New | +131.9k |
Biggest sellers
| J. Goldman & Co LP | Reduced | -1.2m |
| JANE STREET GROUP, LLC | Sold out | -593.0k |
| Parkwood LLC | Reduced | -449.6k |
| Rangeley Capital, LLC | Reduced | -336.4k |
| D. E. Shaw & Co., Inc. | Reduced | -248.2k |
| MILLENNIUM MANAGEMENT LLC | Sold out | -225.2k |
| 683 Capital Management, LLC | Sold out | -208.1k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -175.5k |
| CITADEL ADVISORS LLC | Sold out | -144.8k |
| XTX Topco Ltd | Reduced | -84.4k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $36.7k12.7k shares |
| GROUP ONE TRADING LLC | New | $1.7k600 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 |
|---|---|
Kawa Capital Management, Inc
13D · may seek influence
no change · filed 2026-01-26
Stated purposeItem 4 of the Schedule 13D is hereby amended and supplemented to add the following: On January 26, 2026, the Reporting Person and The Kawa Fund Limited (the "Fund" and, together with the Reporting Person, "Kawa") entered into a cooperation agreement with the Issuer (the "Cooperation Agreement"). Pursuant to the Cooperation Agreement, the Issuer is commencing a review of strategic options (the "Strategic Review Process"), which review may include, without limitation, the consideration of potential acquisition and merger targets, the potential sale of the Issuer and continuing to operate as an independent publicly traded entity. The Cooperation Agreement does not obligate the Issuer to pursue or consummate any such transaction or require the Issuer's Board of Directors (the "Board") to take… Full filing |
9.7% |
| PRIVATE MANAGEMENT GROUP INC 13G · institution filed 2026-05-08 | 9.6% |
| BlackRock, Inc. 13G · institution +3.5 pts · filed 2026-07-29 | 6.6% |
| Sanda Par Olof 13G · exempt (held before listing) -1.5 pts · filed 2026-02-10 | 6.0% |
Insider purchases and sales since 1 Apr 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.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 3 | $150.0k | 0 | — | — |
| Q2 2025 | 0 | — | 0 | — | — |
| Q3 2025 | 1 | $160.1k | 0 | — | — |
| Q4 2025 | 0 | — | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
| Q2 2026 | 0 | — | 0 | — | — |
| Q3 2026 | 0 | — | 0 | — | — |
None reported since 1 Apr 2026.
Holders, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| PRIVATE MANAGEMENT GROUP INC 0.41% of their portfolio | 5.4m $15.5m | Reduced -38.2k |
| BlackRock, Inc. 0.00% of their portfolio | 4.4m $12.7m | Added +2.9m |
| VANGUARD CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 2.4m $7.0m | Added +45.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 1.9m $5.4m | Added +159.7k |
| Parkwood LLC 0.31% of their portfolio | 1.5m $4.3m | Reduced -449.6k |
| J. Goldman & Co LP 0.14% of their portfolio | 1.4m $4.0m | Reduced -1.2m |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.3m $3.8m | Added +734.9k |
| RBF Capital, LLC 0.12% of their portfolio | 1.0m $2.9m | Unchanged |
| MARSHALL WACE, LLP 0.00% of their portfolio | 768.2k $2.2m | Added +316.6k |
| TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio | 708.1k $2.0m | Added +262.1k |
| Rangeley Capital, LLC 1.56% of their portfolio | 578.6k $1.7m | Reduced -336.4k |
| STATE STREET CORP 0.00% of their portfolio | 573.3k $1.7m | Added +335.6k |
| DIMENSIONAL FUND ADVISORS LP 0.00% of their portfolio | 498.1k $1.4m | Reduced -73.6k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 440.6k $1.3m | Added +125.3k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 414.6k $1.2m | Added +295.2k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.00% of their portfolio | 362.9k $1.0m | New |
| VANGUARD FIDUCIARY TRUST CO 0.00% of their portfolio | 355.3k $1.0m | Added +42.3k |
| MORGAN STANLEY 0.00% of their portfolio | 351.6k $1.0m | Reduced -7.2k |
| Cambria Investment Management, L.P. 0.05% of their portfolio | 324.4k $937.6k | New |
| D. E. Shaw & Co., Inc. 0.00% of their portfolio | 273.4k $790.0k | Reduced -248.2k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 256.0k $739.8k | Reduced -44.0k |
| State of Alaska, Department of Revenue 0.01% of their portfolio | 189.3k $547.0k | Reduced -22.3k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 187.4k $541.7k | Added +95.5k |
| GSA CAPITAL PARTNERS LLP 0.03% of their portfolio | 147.4k $426.0k | Reduced -12.7k |
| Samalin Investment Counsel, LLC 0.13% of their portfolio | 143.2k $414.0k | Reduced -68.1k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 131.9k $381.3k | New |
| LAZARD ASSET MANAGEMENT LLC 0.00% of their portfolio | 112.4k $324.7k | New |
| NOMURA ASSET MANAGEMENT CO LTD 0.00% of their portfolio | 92.2k $266.5k | Unchanged |
| Quinn Opportunity Partners LLC 0.01% of their portfolio | 90.8k $262.3k | Unchanged |
| Invesco Ltd. 0.00% of their portfolio | 85.7k $247.6k | Added +19.9k |
| Asset Management One Co., Ltd. 0.00% of their portfolio | 81.3k $235.0k | Unchanged |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 74.2k $214.4k | Added +52.4k |
| Engineers Gate Manager LP 0.00% of their portfolio | 72.7k $210.1k | Reduced -18.5k |
| Nuveen, LLC 0.00% of their portfolio | 71.9k $207.9k | New |
| LPL Financial LLC 0.00% of their portfolio | 67.9k $196.2k | Added +16.3k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.00% of their portfolio | 62.9k $181.8k | Reduced -13.4k |
| FMR LLC 0.00% of their portfolio | 58.1k $168.0k | Reduced -66 |
| Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio | 56.2k $162.3k | Reduced -2.7k |
| STIFEL FINANCIAL CORP 0.00% of their portfolio | 54.1k $156.5k | Reduced -2.2k |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 53.6k $154.8k | Added +44.9k |
| Cambridge Investment Research Advisors, Inc. 0.00% of their portfolio | 48.7k $140.0k | Added +23.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 44.1k $128.0k | New |
| AXQ CAPITAL, LP 0.01% of their portfolio | 41.7k $120.6k | New |
| MEEDER ASSET MANAGEMENT INC 0.01% of their portfolio | 39.9k $115.2k | Unchanged |
| Mariner, LLC 0.00% of their portfolio | 39.6k $114.3k | Reduced -20.4k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 39.5k $114.0k | New |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 37.9k $109.5k | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 36.0k $104.0k | Reduced -175.5k |
| BFSG, LLC 0.01% of their portfolio | 31.3k $90.4k | Unchanged |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 30.9k $89.3k | Reduced -11.3k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.00% of their portfolio | 28.4k $82.1k | Reduced -200 |
| Vanguard Global Advisers, LLC 0.00% of their portfolio | 28.4k $82.0k | Unchanged |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 28.2k $81.5k | Reduced -2.2k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 28.1k $81.2k | New |
| OMERS ADMINISTRATION Corp 0.00% of their portfolio | 27.2k $78.6k | Unchanged |
| XTX Topco Ltd 0.00% of their portfolio | 27.1k $78.3k | Reduced -84.4k |
| Jain Global LLC 0.00% of their portfolio | 25.8k $74.6k | New |
| CITIGROUP INC 0.00% of their portfolio | 24.9k $72.0k | Added +11.7k |
| PRUDENTIAL FINANCIAL INC 0.00% of their portfolio | 24.9k $72.0k | Added +10.3k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 24.7k $71.5k | New |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 24.6k $73.3k | Added +23.7k |
| Resona Asset Management Co.,Ltd. 0.00% of their portfolio | 19.7k $58.4k | Unchanged |
| Daiwa Securities Group Inc. 0.00% of their portfolio | 18.2k $52.5k | Reduced -402 |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.00% of their portfolio | 17.6k $50.8k | Unchanged |
| UBS Group AG 0.00% of their portfolio | 17.3k $50.0k | Reduced -59.6k |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 16.2k $46.9k | New |
| SmartHarvest Portfolios, LLC 0.01% of their portfolio | 15.6k $45.2k | Unchanged |
| MAI Capital Management 0.00% of their portfolio | 13.3k $38.8k | Added +13.1k |
| BANK OF MONTREAL /CAN/ 0.00% of their portfolio | 13.0k $37.4k | Unchanged |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 12.9k $37.4k | Added +12.7k |
| Beartown Capital Management, LLC 0.02% of their portfolio | 12.9k $37.3k | Unchanged |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 12.6k $36.5k | Reduced -1.5k |
| Quantinno Capital Management LP 0.00% of their portfolio | 12.4k $35.9k | Unchanged |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 12.2k $35.0k | Added +817 |
| GABELLI FUNDS LLC 0.00% of their portfolio | 12.0k $34.7k | Unchanged |
| Private Advisor Group, LLC 0.00% of their portfolio | 11.5k $33.3k | Reduced -1.8k |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 11.2k $32.4k | New |
| BARCLAYS PLC 0.00% of their portfolio | 10.8k $31.1k | Reduced -43.7k |
| Creative Planning 0.00% of their portfolio | 10.7k $30.8k | New |
| STRS OHIO 0.00% of their portfolio | 10.5k $30.3k | New |
| Cetera Investment Advisers 0.00% of their portfolio | 10.3k $29.8k | New |
| Russell Investments Group, Ltd. 0.00% of their portfolio | 8.7k $25.2k | Added +3.1k |
| OSAIC HOLDINGS, INC. 0.00% of their portfolio | 6.3k $18.1k | Reduced -51 |
| Legal & General Group Plc 0.00% of their portfolio | 5.3k $15.2k | New |
| Ameritas Investment Partners, Inc. 0.00% of their portfolio | 4.9k $14.1k | New |
| PNC Financial Services Group, Inc. 0.00% of their portfolio | 4.4k $12.7k | Unchanged |
| Tower Research Capital LLC (TRC) 0.00% of their portfolio | 3.3k $9.4k | Added +2.6k |
| FIFTH THIRD BANCORP 0.00% of their portfolio | 2.6k $7.4k | Reduced -99 |
| Cullen/Frost Bankers, Inc. 0.00% of their portfolio | 1.6k $4.8k | Added +8 |
| MetLife Investment Management, LLC 0.00% of their portfolio | 1.5k $4.3k | Added +8 |
| EXCHANGE TRADED CONCEPTS, LLC 0.00% of their portfolio | 1.4k $4.2k | Reduced -1.1k |
| Allworth Financial LP 0.00% of their portfolio | 1.3k $3.7k | Added +2 |
| North Star Investment Management Corp. 0.00% of their portfolio | 1.2k $3.4k | Unchanged |
| Covestor Ltd 0.00% of their portfolio | 1.1k $3.0k | Unchanged |
| Sterling Capital Management LLC 0.00% of their portfolio | 1.1k $3.1k | New |
| NISA INVESTMENT ADVISORS, LLC 0.00% of their portfolio | 939 $2.7k | Reduced -4.7k |
| HARBOUR INVESTMENTS, INC. 0.00% of their portfolio | 913 $2.6k | Added +1 |
| Farther Finance Advisors, LLC 0.00% of their portfolio | 885 $2.6k | Reduced -123 |
| Arax Advisory Partners 0.00% of their portfolio | 883 $2.6k | Added +867 |
| MassMutual Private Wealth & Trust, FSB 0.00% of their portfolio | 727 $2.1k | Unchanged |