Orion Office REIT

ONL • NYSE

Orion Office REIT is a reit - office company in the real estate sector on NYSE, led by Paul H. McDowell, with a market cap of $115.4M. As of Q3 2025, 57% of shares are held by 194 institutional investors, with Kawa Capital Management, Inc as the largest holder at 9.72%.

Chief Executive OfficerPaul H. McDowell

Market Cap$115.4M

REIT - Office

Real Estate

Employees38.0

Websiteonlreit.com

Country

United States of America

Overview

Overview of institutional ownership in ONL as of Q3 2025 with a market cap of $152.0M

All Institutions

Institutions: 194
Value Held: $86.0M
Shares Held: 31.9M
Avg Position: $443.5K
Median Position: $3.0K

Hedge Funds

Hedge Funds: 18
Value Held: $31.0M
Shares Held: 11.5M
Avg Position: $1.7M
Median Position: $409.6K

Ownership Breakdown

Institutional (non-HF)

36.2%

$55.0M

Hedge Funds

20.38%

$31.0M

Retail & Other

43.42%

$66.0M

Based on market cap of $152.0M as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in ONL as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
Kawa Capital Management, Inc Hedge Fund•Multi-Strategy	Daniel Ades CEO	$14.8M 26.79% of portfolio	9.72% 5.5M shares	Q1 2025 Held for 8 months	$55.2M
PRIVATE MANAGEMENT GROUP INC RIA/Wealth	Robert Todd Summers President	$14.0M 0.41% of portfolio	9.23% 5.2M shares	Q2 2022 Held for 3y 5m	$3.4B
VANGUARD GROUP INC Institution	Salim Ramji CEO	$7.4M 0.00% of portfolio	4.88% 2.7M shares	Q4 2021 Held for 3y 11m	$6.69T
P Parkwood LLC Institution	-	$5.2M 0.53% of portfolio	3.44% 1.9M shares	Q2 2025 Held for 5 months	$984.9M
B BlackRock, Inc. Institution	-	$4.8M 0.00% of portfolio	3.17% 1.8M shares	Q4 2021 Held for 3y 11m	$5.67T
RENAISSANCE TECHNOLOGIES LLC Hedge Fund•Quant	Peter Fitzhugh Brown CEO	$4.5M 0.01% of portfolio	2.97% 1.7M shares	Q1 2022 Held for 3y 8m	$75.8B
R RBF Capital, LLC Institution	-	$2.7M 0.12% of portfolio	1.78% 1.0M shares	Q2 2025 Held for 5 months	$2.2B
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	Anthony Ryan CEO	$2.5M 0.00% of portfolio	1.64% 922.8K shares	Q3 2023 Held for 2y 2m	$158.92B
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	Jay Glenn Goldman CEO	$2.4M 0.09% of portfolio	1.59% 892.7K shares	Q2 2025 Held for 5 months	$2.6B
J JANE STREET GROUP, LLC Institution	-	$2.3M 0.00% of portfolio	1.49% 837.2K shares	Q4 2022 Held for 2y 11m	$84.1B

Net Capital Flow

Institutional buying and selling activity for ONL in Q3 2025

Traded: −$3.6M
Buyers: 56
Sellers: 91
Total Bought: +$3.5M
Total Sold: −$7.2M
Avg Position: $380.7K

Biggest Buyers

Institution	Net Bought	Current Position
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$751.3K +278.2K shares	$1.1M 419.1K shares
TWO SIGMA INVESTMENTS LLC Hedge Fund•Multi-Strategy	+$511.4K +189.4K shares	$639.3K 236.8K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$477.1K +176.7K shares	$477.1K 176.7K shares
Marshall Wace LLP Institution	+$272.6K +101.0K shares	$272.6K 101.0K shares
TWO SIGMA ADVISERS, LLC Hedge Fund•Multi-Strategy	+$249.2K +92.3K shares	$342.1K 126.7K shares
MORGAN STANLEY RIA/Wealth	+$174.4K +64.6K shares	$2.1M 779.4K shares
Q Qube Research & Technologies Ltd Institution	+$174.4K +64.6K shares	$252.5K 93.5K shares
Cambria Investment Management, L.P. ETF Provider	+$116.2K +43.0K shares	$859.6K 318.4K shares
P PenderFund Capital Management Ltd. Institution	+$99.9K +37.0K shares	$99.9K 37.0K shares
GOLDMAN SACHS GROUP INC Institution	+$90.8K +33.6K shares	$348.3K 129.0K shares

Biggest Sellers

Institution	Net Sold	Current Position
GEODE CAPITAL MANAGEMENT LLC ETF Provider	−$901.3K −333.6K shares	$1.6M 608.4K shares
Mariner Wealth Advisors, LLC RIA/Wealth	−$615.6K −228.0K shares	$616.7K 228.4K shares
H HRT FINANCIAL LLC Institution	−$526.9K −247.4K shares	Sold Off 0 shares
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	−$399.1K −147.8K shares	$1.8M 680.3K shares
X XTX Topco Ltd Institution	−$392.5K −145.4K shares	$59.7K 22.1K shares
AMERIPRISE FINANCIAL INC Institution	−$343.8K −161.4K shares	Sold Off 0 shares
R ROYAL BANK OF CANADA Institution	−$331.7K −122.8K shares	$233.0K 86.3K shares
Y Y-Intercept Ltd Institution	−$295.5K −138.7K shares	Sold Off 0 shares
G Greenland Capital Management LP Hedge Fund•Multi-Strategy	−$274.5K −128.9K shares	Sold Off 0 shares
JACOBS LEVY EQUITY MANAGEMENT, INC Hedge Fund•Quant	−$261.2K −96.8K shares	$239.2K 88.6K shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited ONL in Q3 2025

New Positions: 9
New Value: $136.4K
Exited Positions: 31
Exited Value: $2.3M

New Positions

Institution	Position Value
P PenderFund Capital Management Ltd. Institution	$99.9K 37.0K shares
T TWO SIGMA SECURITIES, LLC Institution	$32.7K 12.1K shares
O Optiver Holding B.V. Institution	$2.3K 836.0 shares
Transamerica Financial Advisors, Inc. Institution	$588.0 216.0 shares
Compagnie Lombard, Odier SCA Private Equity	$405.0 150.0 shares
Union Bankshares Corp Institution	$378.0 140.0 shares
Sontag Advisory, LLC RIA/Wealth	$157.0 58.0 shares
R Root Financial Partners, LLC RIA/Wealth	$3.0 1.0 shares
HORIZON FINANCIAL SERVICES, LLC RIA/Wealth	$3.0 1.0 shares

Exited Positions

Institution	Previous Position
H HRT FINANCIAL LLC Institution	$526.9K 247.4K shares
AMERIPRISE FINANCIAL INC Institution	$343.8K 161.4K shares
Y Y-Intercept Ltd Institution	$295.5K 138.7K shares
G Greenland Capital Management LP Hedge Fund•Multi-Strategy	$274.5K 128.9K shares
B Brevan Howard Capital Management LP Institution	$225.2K 105.7K shares
Aster Capital Management Ltd RIA/Wealth	$132.3K 62.1K shares
Jain Global LLC Hedge Fund•Multi-Strategy	$129.8K 60.9K shares
Sandia Investment Management LP Hedge Fund•Event Driven	$53.4K 25.1K shares
P Proficio Capital Partners LLC Family Office	$53.4K 25.1K shares
SMH CAPITAL ADVISORS INC RIA/Wealth	$45.3K 21.3K shares

Options Activity

Institutions with the largest Call and Put options positions in ONL as of Q3 2025

Call Positions: 1
Call Value: $28.9K
Put Positions: 0
Put Value: -

Call Positions

Institution	Position Value
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$28.9K 107.0 contracts

Put Positions

Institution	Position Value
No put positions found

Most Committed Institutions

Institutions with ONL as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Kawa Capital Management, Inc Hedge Fund•Multi-Strategy	Daniel Ades CEO	26.79% $14.8M	9.72% 5.5M shares	Q1 2025 Held for 8 months	$55.2M
P Parkwood LLC Institution	-	0.53% $5.2M	3.44% 1.9M shares	Q2 2025 Held for 5 months	$984.9M
PRIVATE MANAGEMENT GROUP INC RIA/Wealth	Robert Todd Summers President	0.41% $14.0M	9.23% 5.2M shares	Q2 2022 Held for 3y 5m	$3.4B
Samalin Investment Counsel, LLC RIA/Wealth	Andrew Evan Samalin Managing Partner	0.20% $570.2K	0.37% 211.2K shares	Q1 2023 Held for 2y 8m	$289.2M
GSA CAPITAL PARTNERS LLP Hedge Fund•Quant	David Khabie-Zeitoune CEO	0.13% $1.5M	0.96% 543.4K shares	Q2 2023 Held for 2y 5m	$1.1B
R RBF Capital, LLC Institution	-	0.12% $2.7M	1.78% 1.0M shares	Q2 2025 Held for 5 months	$2.2B
J J. Goldman & Co LP Hedge Fund•Multi-Strategy	Jay Glenn Goldman CEO	0.09% $2.4M	1.59% 892.7K shares	Q2 2025 Held for 5 months	$2.6B
G Glendon Capital Management LP Hedge Fund•Distressed	Haig Mark Maghakian COO	0.05% $970.8K	0.64% 359.6K shares	Q4 2021 Held for 3y 11m	$1.8B
Cambria Investment Management, L.P. ETF Provider	Mebane Thadley Faber CEO	0.05% $859.6K	0.57% 318.4K shares	Q1 2025 Held for 8 months	$1.7B
P PenderFund Capital Management Ltd. Institution	-	0.04% $99.9K	0.07% 37.0K shares	Q3 2025 Held for 2 months	$254.4M