Cascade Investment, L.L.C., the investment vehicle tied to Republic Services, Inc. (RSG) and classified as a 10%+ owner of the waste management company, added to its position again on September 11, 2026. The filing shows a purchase of 7,596 shares at $221.52 apiece, an open-market transaction worth $1,682,657.56 paid for out of the firm’s own funds.
Following the purchase, Cascade’s directly held stake in Republic Services stands at 116,741,230 shares, a position size that underscores just how large its footprint in the company already is. This single filing, however, is only the latest entry in a much longer and more striking sequence of buying activity.
A Month-Long Buying Pattern
Between September 1 and September 11, 2026, Cascade Investment has now logged 29 separate open-market purchases of RSG stock, with the combined value of those transactions reaching $572,705,215. That is a substantial sum accumulated over a short window, and it places this latest $1.68 million buy within a broader, sustained pattern of accumulation rather than an isolated event.
Our internal classification tags this activity as a ‘cluster buy’ — a designation reserved for situations where multiple insider purchases occur in close succession, often signaling a consistent posture toward a stock rather than a one-off decision. Academic research on insider trading has found that clustered buying, in aggregate and across many companies, has historically correlated with periods of subsequent outperformance. That said, this observation is general market history, not a forecast, and nothing in this filing should be read as a signal to take any specific action with RSG shares.
Readers who have followed this story already know that Cascade’s buying has been building for weeks. Earlier coverage on this site detailed how the streak had already crossed the half-billion-dollar mark; see RSG: Cascade Investment’s Buying Streak Tops $510M for the prior update in this ongoing series. Each new Form 4 filing adds another data point to what has become one of the more closely watched insider accumulation patterns tracked on this site this year.
As with all Form 4 disclosures, this filing is a matter of public record and reflects transactions that have already occurred. Whether the pace of purchases continues into the following weeks remains to be seen, and future filings will determine whether the total climbs further beyond the current $572.7 million mark.
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Source: original SEC Form 4 filing.