Cascade Investment, L.L.C., the investment vehicle tied to Bill Gates, disclosed another open-market purchase of Republic Services, Inc. (RSG) stock on September 2, 2026. The filing shows Cascade bought 24,667 shares at $221.19 apiece, a purchase worth $5,455,972.86, lifting its directly held stake to 114,716,994 shares.
On its own, the transaction is modest relative to Cascade’s overall position in Republic Services. But it is not standing alone. It is the latest entry in a rapid-fire sequence of 28 separate open-market purchases stretching from August 24 through September 2, 2026, which together add up to $492,017,437 spent acquiring RSG shares. That is nearly half a billion dollars committed in roughly a week and a half, a pace that qualifies this filing for our cluster buy classification, reserved for situations where an insider makes repeated purchases in a tight window rather than a single isolated trade.
A Buying Pattern That Keeps Extending
We have been tracking this streak as it built. Earlier coverage noted the total crossing $343 million and then $415 million as August progressed — see our earlier piece, RSG: Cascade Investment’s August Buying Streak Hits $415M. The September 2 purchase pushes the running total to $492,017,437 across the 28 disclosed trades, meaning the streak has grown by roughly $77 million in the days since that last update.
What stands out is the consistency of the buying rather than the size of any single trade. Each individual purchase in the sequence, including this most recent 24,667-share order, is a small fraction of Cascade’s overall stake, yet the cumulative effect is a large, sustained addition to its Republic Services position over a short calendar window.
Why Clustered Buying Draws Attention
Academic research on insider trading has generally found that clustered purchases by insiders, where multiple buys occur close together in time, tend to correlate with above-average subsequent stock performance more reliably than a single isolated purchase. That is a historical pattern researchers have identified across large samples of filings, not a prediction about Republic Services specifically, and this article is not suggesting any action for readers regarding RSG shares.
Cascade Investment remains classified as a 10%+ owner of Republic Services, a status that requires this level of disclosure under SEC rules. We will continue monitoring subsequent Form 4 filings to see whether the streak that began August 24 extends further or comes to a pause.
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Source: original SEC Form 4 filing.