Cascade Investment, L.L.C., the 10%+ owner tied to Bill Gates, added another block of Republic Services, Inc. (RSG) shares to its already substantial stake. A Form 4 filed with the SEC shows Cascade purchased 101,653 shares on August 25, 2026, at $221.12 per share, an open-market transaction worth $22,477,999.29. Following the purchase, Cascade holds 113,207,203 shares directly.
This single trade is notable on its own, but it’s the pattern around it that stands out. Between August 17 and August 25, 2026, Cascade has made 28 separate open-market purchases of RSG stock, spending a combined $343,062,255 over that nine-day stretch. That’s a sustained, near-daily buying cadence rather than a one-off transaction, and it places this filing squarely in the category whoisbuyingnow.com tracks as a cluster buy.
A Pattern That Keeps Extending
Cascade’s appetite for RSG shares has been building for weeks, and this site has covered the escalating totals as they’ve unfolded. An earlier report tracked the buying spree topping $346 million as of mid-August; see RSG: Cascade’s August Buying Spree Tops $346M for that earlier snapshot. The latest disclosure confirms the streak has continued into the final week of August, with additional purchases layering on top of what was already a large cumulative commitment.
Cascade’s post-transaction stake of over 113.2 million shares held directly underscores the scale of its existing position in Republic Services relative to the size of each incremental purchase. Even a $22.5 million buy is a small percentage addition against that base, which is part of why the recurring pattern of purchases across nearly two dozen separate trading days is the more meaningful signal than any single filing.
Academic research on insider trading has found that clustered purchases by multiple insiders, or repeated purchases by a single insider over a short window, tend to correlate with subsequent outperformance more reliably than isolated trades. That historical pattern doesn’t translate into a forecast for any particular stock, and this filing should be read as a disclosure of activity rather than a signal to act on. Republic Services has not issued public commentary tied to this specific transaction, and the filing itself does not indicate any stated rationale beyond the mechanics of the purchase.
whoisbuyingnow.com will continue monitoring subsequent Form 4 filings from Cascade Investment to see whether the buying streak extends further or whether August 25 marks a pause in the run.
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Source: original SEC Form 4 filing.