$RSG · CASCADE INVESTMENT, L.L.C.
Cascade Investment, L.L.C. (Bill Gates's investment vehicle and a 10% owner of Republic Services) reported six open-market purchases totaling 720,804 shares at prices between $220.37 and $222.56, for an aggregate outlay of $159,593,041.07. Post-transaction, Cascade owns 116,477,634 shares. No 10b5-1 trading plan was indicated.
- Cascade Investment acquired 720,804 shares for a total of $159,593,041.07 across six separate purchases.
- Prices ranged from $220.37 to $222.56 per share, executed in a tight band near the filing-time price of $223.02.
- Post-transaction, Cascade holds 116,477,634 shares of RSG, reinforcing its position as a 10% owner.
- No 10b5-1 plan was used — the purchases were discretionary, not pre-scheduled.
- This is the largest single-day Cascade RSG purchase by dollar value in recent Form 4 filings.
RSG is down 0.87% since filing time ($223.02 → $221.08), a modest decline that does not yet reflect the bullish signal of a $159.6M discretionary buy by Bill Gates's investment vehicle. After-hours session is underway; extended-hours reaction not yet captured.
A $159.6M discretionary buy by Bill Gates's investment vehicle is one of the largest single-filing insider purchases in the waste-management sector and signals strong conviction from a 10% owner with
Republic Services is the second-largest U.S. waste management company (market cap $68B), a sector known for recession-resistant cash flows and consolidation economics. Cascade's continued accumulation aligns with the "steady compounder" thesis favored by long-duration capital.
Concentrated insider buying by a 10% owner can sometimes precede non-public information; however, Cascade has been a long-term RSG holder and this may reflect ongoing accumulation rather than event-driven timing.
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