| Filer | Ownership | Change % | Holdings Value | Net Change | Nb Shares | Change % | Reporting Name | Report Period |
|---|---|---|---|---|---|---|---|---|
| BCEC-GFL Borrower GP (Cayman), Ltd | 25% | $4,353,775,417 | 89,198,431 | GFL Borrower Luxembourg S.a r.l. | 31 Mar 2025 | |||
| FMR LLC | 7.8% | -18% | $1,284,551,576 | -$329,641,565 | 27,111,684 | -20% | FMR LLC | 30 Sep 2025 |
| ONTARIO TEACHERS PENSION PLAN BOARD | 7.5% | $1,290,610,250 | 26,441,513 | ONTARIO TEACHERS PENSION PLAN BOARD | 31 Mar 2025 | |||
| Dovigi Patrick | 6.8% | $1,217,108,243 | 25,688,228 | Patrick Dovigi | 30 Sep 2025 | |||
| Capital Research Global Investors | 5.4% | +10% | $904,326,460 | +$26,641,089 | 19,094,731 | +3% | Capital Research Global Investors | 30 Jun 2025 |
| GIC Private Ltd | 4.6% | -18% | $808,025,780 | -$257,576,618 | 16,554,513 | -24% | GIC Private Limited | 31 Mar 2025 |
As of 30 Sep 2025, 293 institutional investors reported holding 239,421,326 shares of GFL Environmental Inc. - Subordinate Voting Shares, no par value (GFL). This represents 63% of the company’s total 377,768,059 outstanding shares.
The largest institutional shareholders of GFL Environmental Inc. - Subordinate Voting Shares, no par value (GFL) together control 52% of the company’s outstanding shares — a level of ownership often associated with strong institutional conviction and long‑term capital commitment.
| Institution | Ownership % | Shares Held | Share Change % | Portfolio % | Holdings Value |
|---|---|---|---|---|---|
| BC Partners PE LP | 9.4% | 35,337,520 | 0% | 16% | $1,424,911,940 |
| FMR LLC | 7.2% | 27,111,683 | -20% | 0.07% | $1,284,924,173 |
| ONTARIO TEACHERS PENSION PLAN BOARD | 6.4% | 24,297,510 | -8.1% | 24% | $1,150,633,264 |
| Capital Research Global Investors | 4.9% | 18,595,696 | -2.6% | 0.17% | $881,063,956 |
| VANGUARD GROUP INC | 2.9% | 11,059,655 | +1.5% | 0.01% | $524,170,416 |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 2.7% | 10,224,632 | -3.6% | 0.15% | $484,443,064 |
| Pictet Asset Management Holding SA | 2.2% | 8,326,029 | -8.9% | 0.38% | $394,476,630 |
| ROYAL BANK OF CANADA | 2.1% | 7,839,885 | -1.4% | 0.07% | $371,454,000 |
| AMERICAN CENTURY COMPANIES INC | 1.6% | 6,023,139 | +26% | 0.15% | $285,376,628 |
| FRED ALGER MANAGEMENT, LLC | 1.5% | 5,628,744 | -31% | 1% | $266,689,891 |
| Beutel, Goodman & Co Ltd. | 1.4% | 5,456,285 | -7.7% | 1.6% | $258,657,000 |
| NORDEA INVESTMENT MANAGEMENT AB | 1.3% | 4,741,512 | -2.9% | 0.19% | $221,760,516 |
| CIBC Asset Management Inc | 1.1% | 4,054,084 | +0.97% | 0.56% | $191,994,449 |
| DEUTSCHE BANK AG\ | 1.1% | 4,040,556 | +10% | 0.06% | $191,441,543 |
| MORGAN STANLEY | 1% | 3,932,625 | +5.7% | 0.01% | $186,327,798 |
| Clarkston Capital Partners, LLC | 0.76% | 2,860,060 | -6.7% | 2.9% | $135,509,643 |
| MILLENNIUM MANAGEMENT LLC | 0.64% | 2,412,497 | +63% | 0.09% | $114,304,108 |
| BlackRock, Inc. | 0.57% | 2,147,949 | -5.4% | 0% | $101,769,818 |
| GEODE CAPITAL MANAGEMENT, LLC | 0.55% | 2,086,454 | +31% | 0.01% | $98,264,148 |
| WELLINGTON MANAGEMENT GROUP LLP | 0.53% | 2,011,580 | -1.9% | 0.02% | $95,309,475 |
| Progeny 3, Inc. | 0.52% | 1,953,680 | +6.7% | 4.8% | $92,565,358 |
| UBS Group AG | 0.52% | 1,946,471 | +204% | 0.02% | $92,223,796 |
| BROWN BROTHERS HARRIMAN & CO | 0.5% | 1,871,190 | +3.1% | 0.54% | $88,656,982 |
| MAVERICK CAPITAL LTD | 0.42% | 1,586,998 | -43% | 1% | $75,191,965 |
| BANK OF MONTREAL /CAN/ | 0.41% | 1,535,406 | +7.8% | 0.03% | $72,754,832 |
| Period | Reported Shares, Excl. Options | Value, Excl. Options | Value Change | Price (Median) | Investors |
|---|---|---|---|---|---|
| 2025 Q4 | 18,608,468 | $803,056,125 | +$102,444,638 | $42.95 | 21 |
| 2025 Q3 | 239,421,326 | $11,096,264,830 | -$723,692,083 | $47.38 | 293 |
| 2025 Q2 | 254,048,152 | $12,560,930,096 | -$272,948,096 | $50.46 | 305 |
| 2025 Q1 | 258,827,688 | $12,259,939,580 | -$303,246,193 | $48.31 | 312 |
| 2024 Q4 | 273,710,540 | $11,823,947,673 | +$72,252,144 | $44.54 | 278 |
| 2024 Q3 | 272,277,397 | $10,494,608,881 | +$473,078,569 | $39.88 | 260 |
| 2024 Q2 | 216,742,423 | $8,439,213,708 | +$85,778,713 | $38.93 | 244 |
| 2024 Q1 | 214,892,139 | $7,416,760,981 | +$535,853,628 | $34.50 | 229 |
| 2023 Q4 | 199,435,681 | $6,885,101,926 | +$208,360,516 | $34.51 | 204 |
| 2023 Q3 | 193,335,856 | $6,145,474,456 | +$60,326,129 | $31.76 | 198 |
| 2023 Q2 | 190,028,322 | $7,372,892,691 | +$345,305,078 | $38.80 | 212 |
| 2023 Q1 | 181,559,455 | $6,260,179,962 | +$326,542,495 | $34.44 | 181 |
| 2022 Q4 | 173,398,833 | $5,064,338,097 | +$215,103,981 | $29.23 | 174 |
| 2022 Q3 | 165,666,170 | $4,196,227,474 | +$72,136,884 | $25.29 | 162 |
| 2022 Q2 | 216,459,536 | $5,508,043,039 | +$69,480,099 | $25.80 | 167 |
| 2022 Q1 | 213,458,705 | $6,871,010,863 | +$110,077,161 | $32.54 | 167 |
| 2021 Q4 | 209,553,200 | $7,839,367,992 | +$318,701,437 | $37.85 | 164 |
| 2021 Q3 | 195,184,583 | $7,097,419,027 | +$87,353,207 | $37.15 | 131 |
| 2021 Q2 | 192,864,636 | $6,014,485,540 | +$159,361,163 | $31.92 | 138 |
| 2021 Q1 | 188,275,217 | $6,335,813,846 | -$72,216,099 | $34.95 | 123 |
| 2020 Q4 | 192,011,554 | $5,371,365,182 | -$11,182,964 | $29.18 | 110 |
| 2020 Q3 | 192,519,846 | $3,882,503,112 | +$149,821,236 | $21.26 | 86 |
| 2020 Q2 | 186,168,355 | $3,270,079,557 | +$32,439,289 | $18.77 | 64 |
| 2020 Q1 | 120,356,797 | $1,834,038,051 | +$1,830,169,823 | $15.05 | 55 |