Marathon Asset Management 13F: New $32M Stake in GFL

On October 26, 2026, Marathon Asset Management took a new position of 771,499 shares in GFL Environmental Inc. This stake is valued at approximately $32.3 million, according to the fund's latest Form 13F filing with the SEC.

GFL GFL Environmental Inc.

$45.68 ▲ +6.65% year to date

1M 3M YTD

Daily close · Oct 26, 2026

What Changed in Marathon Asset Management's GFL Position

Marathon Asset Management opened a new position in GFL Environmental, holding 771,499 shares after the filing. This new stake represents a significant entry into the company, and it accounts for 2.56% of Marathon's total reported 13F value of about $1.26 billion. The fund ranks 14th among its 76 holdings, reflecting a strategic move into the waste management industry.

Where GFL Environmental Fits in Marathon Asset Management's Portfolio

This new investment indicates a growing interest in GFL Environmental, which provides non-hazardous waste management services in North America. Given the fund's substantial reported value, this stake may enhance its overall portfolio performance.

Other Institutional Activity in GFL

Several other institutional investors hold significant stakes in GFL Environmental. Bc Partners Pe LP holds 29,912,724 shares valued at about $1.37 billion, while Ontario Teachers Pension Plan Board has 22,450,784 shares worth approximately $1.03 billion. Massachusetts Financial Services Co. trimmed its position, holding 10,865,869 shares valued at about $496.4 million.

GFL Environmental Inc. Stock Up 0.3%

GFL Environmental's stock recently traded around $45.68, which is about equal to its closing price on October 26, 2026. The shares are currently above their 50-day moving average by 7.6% and above their 200-day average by 12.1%, indicating strong performance trends. However, the stock is about 2.3% below its 52-week high of $46.77.

Recent Earnings

GFL Environmental reported trailing twelve-month revenue of approximately $6.97 billion, with a year-over-year revenue growth of 16.3%. The company is scheduled to announce its next earnings on October 28, 2026, which may provide further insights into its financial health.

Dividend

GFL Environmental pays an annual dividend of $0.07 per share, translating to a dividend yield of 0.15%. The payout ratio stands at 17.2%, indicating a sustainable distribution of profits to shareholders.

Analysts Set New Price Targets

Analysts have varying opinions on GFL Environmental's stock. On October 21, 2026, JP Morgan maintained an 'Underweight' rating with a target price of $42. On the other hand, TD Cowen reiterated a 'Buy' rating with a target of $65. The consensus recommendation remains a 'Buy' with a mean target price of $51.43 from 13 analyst opinions.

About GFL Environmental

GFL Environmental Inc. specializes in providing non-hazardous solid waste management services across Canada and the United States. The company caters to municipal, residential, commercial, and industrial customers, offering services such as collection, recycling, and disposal. Its recent growth and strategic moves by institutional investors may enhance its market position moving forward.

Bottom Line

Investors should keep an eye on GFL Environmental's upcoming earnings report on October 28, 2026, for further insights into its performance. Marathon's new stake highlights a growing interest in the waste management sector and could signal further investment trends in this area.