Cascade Investment, L.L.C., the investment vehicle tied to Republic Services, Inc.’s largest shareholder, disclosed another open-market purchase of RSG stock in a Form 4 filing. On September 9, 2026, the 10%+ owner bought 32,765 shares at $220.37 apiece, a purchase worth $7,220,380.46. Following the transaction, Cascade’s directly held stake stands at 116,199,095 shares.
The filing is the latest entry in a much larger and ongoing buying pattern. Between August 31 and September 9, 2026, Cascade Investment has made 25 separate open-market purchases of Republic Services shares, totaling $510,203,126 in aggregate spending. That figure spans more than a week of near-continuous accumulation, with this latest $7.2 million purchase representing just one piece of a far bigger position build.
A Pattern That Keeps Extending
Whoisbuyingnow.com has been tracking this streak as it has grown. Earlier coverage detailed the buying as it crossed $415 million by the end of August, and again as it approached $492 million just a week later in our piece, RSG: Cascade Investment’s Buying Streak Reaches $492M. The September 9 filing pushes the total past the half-billion-dollar mark, underscoring that this is not a one-off insider purchase but a sustained campaign of accumulation carried out through dozens of individual open-market transactions.
Our internal classification labels this latest filing a ‘cluster buy,’ reflecting the density and consistency of purchases from the same insider over a short window. Cascade Investment’s status as a 10%+ owner means these are not routine compensation-related transactions; each purchase involves the firm spending its own capital to acquire additional shares on the open market at prevailing prices.
Academic research on insider trading has found that clustered buying activity, particularly from large, informed shareholders, has historically correlated with periods of subsequent outperformance in the underlying stock, though such findings are statistical tendencies observed across many companies and do not predict outcomes for any single filing or issuer. This article is a report on a public SEC disclosure and should not be read as an endorsement or recommendation regarding Republic Services shares.
What is clear from the filings themselves is the scale and cadence of the activity: 25 transactions in roughly ten days, an average purchase size north of $20 million, and a running total that has more than doubled since late August. Whoisbuyingnow.com will continue to monitor subsequent Form 4 disclosures from Cascade Investment to determine whether the streak extends further or begins to taper off.
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Source: original SEC Form 4 filing.