Addenda Capital’s GFL Environmental GFL Stock Holding History

Addenda Capital’s Portfolio GFL Stock Details GFL Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2025 Q4	–	Sell	-229,065	Closed	-$15.1M	–	129
2025 Q3	$15.1M	Sell	229,065 -2,095	-0.9%	-$101K	0.45%	56
2025 Q2	$15.9M	Sell	231,160 -6,800	-3%	-$334K	0.57%	41
2025 Q1	$16.5M	Sell	237,960 -25,390	-10%	-$1.15M	0.61%	34
2024 Q4	$16.9M	Sell	263,350 -14,110	-5%	-$614K	0.6%	34
2024 Q3	$15M	Sell	277,460 -1,900	-0.7%	-$76K	0.53%	36
2024 Q2	$14.9M	Sell	279,360 -13,620	-5%	-$466K	0.58%	37
2024 Q1	$13.7M	Sell	292,980 -12,605	-4%	-$435K	0.52%	37
2023 Q4	$14M	Buy	305,585 +60,060	+24%	+$1.83M	0.55%	37
2023 Q3	$10.6M	Buy	245,525 +34,985	+17%	+$1.2M	0.46%	47
2023 Q2	$10.8M	Sell	210,540 -6,170	-3%	-$224K	0.45%	45
2023 Q1	$10.1M	Buy	+216,710	New	+$6.84M	0.42%	54

Other funds holding GFL

BC Partners New York $4.43B AUM 49.12% 1-Year Est. Return

Fidelity Investments Boston, Massachusetts $2.3T AUM 54.33% 1-Year Est. Return

OTPPB

Ontario Teachers' Pension Plan Board Toronto, Ontario, Canada $15.8B AUM 1.29% 1-Year Est. Return

Capital Research Global Investors Los Angeles, California $717B AUM 35.42% 1-Year Est. Return

Massachusetts Financial Services Boston, Massachusetts $315B AUM 27.84% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

Royal Bank of Canada Toronto, Ontario, Canada $672B AUM 33.48% 1-Year Est. Return

Pictet Asset Management Carouge, Switzerland $105B AUM 38.07% 1-Year Est. Return

BGC

Beutel, Goodman & Co Toronto, Ontario, Canada $13.6B AUM 17.82% 1-Year Est. Return

Nordea Investment Management Stockholm, Sweden $123B AUM 38.85% 1-Year Est. Return

Addenda Capital's GFL Position: Q4 2025 in Review

Addenda Capital sold out of GFL Environmental (GFL) in Q4 2025, closing a stake of 229,065 shares — an estimated $15.1M sold.

Addenda Capital first reported a position in GFL in Q1 2023 and held it in 11 quarters. The position peaked at $16.9M in Q4 2024. 328 funds tracked by Wall St. Rank hold GFL as of Q4 2025.

Addenda Capital reported no remaining GFL Environmental position as of Q4 2025 after selling out during the quarter.
Addenda Capital sold 229,065 GFL Environmental shares in Q4 2025, an estimated $15.1M.
Addenda Capital first reported a position in GFL Environmental in Q1 2023 and held it in 11 quarters.
Addenda Capital's GFL Environmental position peaked at $16.9M in Q4 2024.
328 funds tracked by Wall St. Rank held GFL Environmental as of Q4 2025.

Based on Addenda Capital's 13F filing for Q4 2025, filed 22 Jan 2026.