VORNADO RLTY TR VNO
SH BEN INT · REIT · CUSIP 929042109 · ISIN US9290421091
* 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 ($3.0m this quarter). Holder counts are more reliable. Shares outstanding: 191.9m as of 2025-03-31, 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 ≈ $36.99. Options: 13 managers hold calls ($31.3m notional), 14 hold puts ($20.7m).
Trends to Q1 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 357 |
| Q4 2022 | 361 |
| Q1 2023 | 311 |
| Q2 2023 | 323 |
| Q3 2023 | 331 |
| Q4 2023 | 368 |
| Q1 2024 | 345 |
| Q2 2024 | 340 |
| Q3 2024 | 371 |
| Q4 2024 | 392 |
| Q1 2025 | 398 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2023 | 165 | 150 |
| Q3 2023 | 161 | 146 |
| Q4 2023 | 163 | 159 |
| Q1 2024 | 145 | 183 |
| Q2 2024 | 152 | 167 |
| Q3 2024 | 192 | 159 |
| Q4 2024 | 176 | 170 |
| Q1 2025 | 194 | 173 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2024 | $51.5m | $46.0m | 0.89 |
| Q3 2024 | $88.2m | $79.1m | 0.90 |
| Q4 2024 | $57.9m | $79.0m | 1.37 |
| Q1 2025 | $31.3m | $20.7m | 0.66 |
Biggest buyers
| FMR LLC | Added | +1.1m |
| Invesco Ltd. | Added | +1.1m |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC | Added | +632.7k |
| Hudson Bay Capital Management LP | Added | +537.3k |
| DEUTSCHE BANK AG\ | Added | +517.8k |
| BANK OF AMERICA CORP /DE/ | Added | +513.3k |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC | Added | +500.9k |
| Woodline Partners LP | Added | +409.4k |
| Universal- Beteiligungs- und Servicegesellschaft mbH | New | +347.1k |
| Russell Investments Group, Ltd. | Added | +264.6k |
Biggest sellers
| PRICE T ROWE ASSOCIATES INC /MD/ | Reduced | -1.5m |
| CITADEL ADVISORS LLC | Reduced | -1.1m |
| VANGUARD GROUP INC | Reduced | -895.5k |
| BAMCO INC /NY/ | Reduced | -893.2k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -774.6k |
| Heitman Real Estate Securities LLC | Reduced | -755.5k |
| MACKENZIE FINANCIAL CORP | Reduced | -617.2k |
| Zurich Insurance Group Ltd/FI | Sold out | -500.4k |
| Advisors Capital Management, LLC | Sold out | -499.5k |
| Amundi | Reduced | -416.5k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $7.6m204.4k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $6.1m164.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $3.8m102.4k shares |
| GROUP ONE TRADING LLC | Reduced | $3.7m100.0k shares |
| Walleye Trading LLC | Reduced | $3.1m83.8k shares |
| Greenland Capital Management LP | New | $2.2m60.0k shares |
| IMC-Chicago, LLC | Added | $1.7m45.7k shares |
| JANE STREET GROUP, LLC | Reduced | $1.2m31.9k shares |
| WOLVERINE TRADING, LLC | Added | $1.2m31.3k shares |
| UBS Group AG | Unchanged | $336.6k9.1k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $8.8m239.1k shares |
| CITADEL ADVISORS LLC | Reduced | $3.9m106.1k shares |
| UBS Group AG | Unchanged | $1.6m42.7k shares |
| Walleye Trading LLC | Added | $1.6m42.0k shares |
| Crawford Fund Management, LLC | Reduced | $887.8k24.0k shares |
| IMC-Chicago, LLC | Added | $880.4k23.8k shares |
| WOLVERINE TRADING, LLC | Added | $790.6k21.5k shares |
| SIMPLEX TRADING, LLC | Reduced | $728.0k19.7k shares |
| GROUP ONE TRADING LLC | Reduced | $532.7k14.4k shares |
| CAPITAL FUND MANAGEMENT S.A. | Reduced | $484.6k13.1k 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 |
|---|---|
| NORGES BANK 13G · institution filed 2026-05-11 | 7.7% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.7% |
| FRANKLIN RESOURCES INC 13G · institution +1.1 pts · filed 2026-04-29 | 6.9% |
| PRICE T ROWE ASSOCIATES INC /MD/ 13G · institution new · filed 2026-08-14 | 5.1% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
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.
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 |
|---|---|---|---|---|---|
| Q2 2023 | 1 | $542.3k | 0 | — | — |
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 2 | $20.5m | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 1 | $56.4k | — |
| Q4 2024 | 0 | — | 1 | $89.7k | — |
| Q1 2025 | 0 | — | 0 | — | — |
None reported in Q1 2025.
Holders, Q1 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.02% of their portfolio | 23.8m $881.7m | Reduced -895.5k |
| BlackRock, Inc. 0.02% of their portfolio | 22.0m $812.6m | Reduced -245.5k |
| NORGES BANK 0.09% of their portfolio | 17.3m $641.5m | Unchanged |
| FRANKLIN RESOURCES INC 0.13% of their portfolio | 11.9m $441.3m | Added +30.0k |
| STATE STREET CORP 0.01% of their portfolio | 8.8m $325.3m | Added +75.1k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.03% of their portfolio | 7.4m $274.7m | Reduced -1.5m |
| PRINCIPAL FINANCIAL GROUP INC 0.13% of their portfolio | 6.0m $223.2m | Reduced -363.6k |
| Kemnay Advisory Services Inc. 40.59% of their portfolio | 5.8m $215.8m | Unchanged |
| Invesco Ltd. 0.03% of their portfolio | 4.2m $155.5m | Added +1.1m |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 3.3m $121.0m | Added +138.0k |
| DEUTSCHE BANK AG\ 0.04% of their portfolio | 3.0m $109.2m | Added +517.8k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 2.8m $103.2m | Added +49.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 2.7m $99.8m | Reduced -68.1k |
| EARNEST PARTNERS LLC 0.47% of their portfolio | 2.7m $98.6m | Added +86.0k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.7m $98.4m | Added +20.6k |
| CENTERSQUARE INVESTMENT MANAGEMENT LLC 0.99% of their portfolio | 2.6m $96.0m | Added +632.7k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 2.5m $93.1m | Added +15.2k |
| MORGAN STANLEY 0.01% of their portfolio | 2.0m $73.7m | Added +92.0k |
| Legal & General Group Plc 0.02% of their portfolio | 1.9m $68.9m | Added +17.1k |
| First Pacific Advisors, LP 0.99% of their portfolio | 1.7m $62.0m | Reduced -120.9k |
| UBS Group AG 0.01% of their portfolio | 1.7m $61.1m | Reduced -28.8k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.6m $58.5m | Added +513.3k |
| BAMCO INC /NY/ 0.17% of their portfolio | 1.6m $57.4m | Reduced -893.2k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 1.3m $49.3m | Reduced -46.8k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.57% of their portfolio | 1.3m $48.7m | Added +31.9k |
| Hudson Bay Capital Management LP 0.29% of their portfolio | 1.2m $45.1m | Added +537.3k |
| CITADEL ADVISORS LLC 0.04% of their portfolio | 1.2m $44.2m | Reduced -1.1m |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 1.1m $42.4m | Reduced -25.6k |
| Russell Investments Group, Ltd. 0.06% of their portfolio | 1.1m $41.5m | Added +264.6k |
| FMR LLC 0.00% of their portfolio | 1.1m $41.1m | Added +1.1m |
| Nuveen, LLC 0.01% of their portfolio | 1.0m $38.3m | First filing |
| CBRE INVESTMENT MANAGEMENT LISTED REAL ASSETS LLC 0.55% of their portfolio | 972.8k $36.0m | Added +500.9k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.05% of their portfolio | 908.5k $33.6m | Added +6.7k |
| SEI INVESTMENTS CO 0.04% of their portfolio | 871.5k $32.2m | Added +137.5k |
| Waterfront Capital Partners, LLC 4.86% of their portfolio | 766.7k $28.4m | Added +200.9k |
| APG Asset Management US Inc. 0.21% of their portfolio | 733.8k $27.7m | Unchanged |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 613.8k $22.7m | Added +113.0k |
| PRIVATE MANAGEMENT GROUP INC 0.80% of their portfolio | 609.9k $22.6m | Reduced -411 |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 603.9k $22.3m | Reduced -5.4k |
| Woodline Partners LP 0.14% of their portfolio | 599.9k $22.2m | Added +409.4k |
| Gotham Asset Management, LLC 0.18% of their portfolio | 590.7k $21.9m | Added +104.2k |
| AEW CAPITAL MANAGEMENT L P 1.02% of their portfolio | 565.1k $20.9m | Added +75.1k |
| State of Tennessee, Department of Treasury 0.07% of their portfolio | 519.6k $19.2m | Unchanged |
| Amundi 0.01% of their portfolio | 515.7k $17.5m | Reduced -416.5k |
| RHUMBLINE ADVISERS 0.02% of their portfolio | 491.1k $18.2m | Reduced -3.0k |
| Lighthouse Investment Partners, LLC 0.76% of their portfolio | 448.4k $16.6m | Added +188.4k |
| AMERICAN CENTURY COMPANIES INC 0.01% of their portfolio | 393.5k $14.6m | Reduced -774.6k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 392.2k $14.5m | Reduced -323.9k |
| Allianz Asset Management GmbH 0.02% of their portfolio | 357.1k $13.2m | Added +49.3k |
| CANADA LIFE ASSURANCE Co 0.02% of their portfolio | 351.7k $13.0m | Added +16.8k |
| GREAT LAKES ADVISORS, LLC 0.12% of their portfolio | 349.7k $12.9m | Reduced -5.5k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.03% of their portfolio | 347.1k $12.8m | New |
| California Public Employees Retirement System 0.01% of their portfolio | 333.2k $12.3m | Reduced -13.8k |
| D. E. Shaw & Co., Inc. 0.01% of their portfolio | 330.2k $12.2m | Added +42.2k |
| Swiss National Bank 0.01% of their portfolio | 313.9k $11.6m | Reduced -4.6k |
| MACKENZIE FINANCIAL CORP 0.02% of their portfolio | 308.6k $11.4m | Reduced -617.2k |
| COMMONWEALTH EQUITY SERVICES, LLC 0.02% of their portfolio | 306.2k $11.3m | Added +1.6k |
| Adelante Capital Management LLC 0.81% of their portfolio | 287.8k $10.6m | Reduced -9.3k |
| PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO 0.04% of their portfolio | 287.3k $10.6m | Reduced -7.7k |
| VIRGINIA RETIREMENT SYSTEMS ET Al 0.08% of their portfolio | 283.4k $10.5m | First filing |
| STOREBRAND ASSET MANAGEMENT AS 0.03% of their portfolio | 268.9k $9.9m | Added +1.8k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 260.9k $9.6m | Reduced -9.3k |
| ExodusPoint Capital Management, LP 0.13% of their portfolio | 258.2k $9.6m | Reduced -100.6k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 256.6k $9.5m | Reduced -2.9k |
| STIFEL FINANCIAL CORP 0.01% of their portfolio | 256.4k $9.5m | Reduced -2.4k |
| Asset Management One Co., Ltd. 0.03% of their portfolio | 248.3k $9.2m | Added +3.2k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 248.3k $9.2m | Added +2.9k |
| NOMURA ASSET MANAGEMENT CO LTD 0.03% of their portfolio | 233.6k $8.6m | Added +11.9k |
| ENVESTNET ASSET MANAGEMENT INC 0.00% of their portfolio | 228.5k $8.5m | Reduced -56.4k |
| PARTNERS CAPITAL INVESTMENT GROUP, LLP 0.13% of their portfolio | 203.6k $7.5m | New |
| Retirement Systems of Alabama 0.03% of their portfolio | 202.1k $7.5m | Added +409 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 194.6k $7.2m | Reduced -12.2k |
| Allspring Global Investments Holdings, LLC 0.01% of their portfolio | 191.6k $7.2m | Reduced -48.2k |
| Corebridge Financial, Inc. 0.04% of their portfolio | 183.5k $6.8m | Reduced -4.3k |
| Sumitomo Mitsui Trust Group, Inc. 0.00% of their portfolio | 182.2k $6.7m | Added +2.2k |
| Long Pond Capital, LP 0.44% of their portfolio | 178.8k $6.6m | New |
| BARCLAYS PLC 0.00% of their portfolio | 177.9k $6.6m | Reduced -67.8k |
| HSBC HOLDINGS PLC 0.00% of their portfolio | 167.2k $6.2m | Added +13.3k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 159.9k $5.9m | Reduced -9.7k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.01% of their portfolio | 153.3k $5.7m | Reduced -13.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 150.6k $5.6m | Reduced -1.9k |
| MACQUARIE GROUP LTD 0.01% of their portfolio | 124.4k $4.6m | Added +15.4k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.01% of their portfolio | 121.7k $4.5m | Reduced -27.3k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.00% of their portfolio | 114.7k $4.2m | Added +4.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 112.4k $4.2m | New |
| DekaBank Deutsche Girozentrale 0.01% of their portfolio | 111.4k $4.1m | Reduced -1.7k |
| Prospect Financial Services LLC 2.22% of their portfolio | 108.3k $4.0m | Added +2.0k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.01% of their portfolio | 108.2k $4.0m | Added +3.1k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.05% of their portfolio | 107.6k $4.0m | Added +3.1k |
| PRUDENTIAL FINANCIAL INC 0.01% of their portfolio | 105.4k $3.9m | Reduced -16.3k |
| State of Alaska, Department of Revenue 0.04% of their portfolio | 105.1k $3.9m | Added +1.6k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 101.1k $3.7m | Added +68.3k |
| Quantinno Capital Management LP 0.02% of their portfolio | 100.6k $3.7m | Added +19.9k |
| Pacific Heights Asset Management LLC 0.25% of their portfolio | 100.0k $3.7m | Unchanged |
| MetLife Investment Management, LLC 0.02% of their portfolio | 97.1k $3.6m | Reduced -1.4k |
| COMMONWEALTH OF PENNSYLVANIA PUBLIC SCHOOL EMPLS RETRMT SYS 0.02% of their portfolio | 96.8k $3.6m | Added +3.1k |
| FEDERATED HERMES, INC. 0.01% of their portfolio | 93.7k $3.5m | Added +2.7k |
| ACADIAN ASSET MANAGEMENT LLC 0.01% of their portfolio | 90.4k $3.3m | New |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.01% of their portfolio | 89.7k $3.3m | Reduced -2.0k |
| LPL Financial LLC 0.00% of their portfolio | 89.4k $3.3m | Added +10.5k |