Republic Services, Inc. (NYSE: RSG) is one of the largest waste collection and environmental services providers in the United States. Shares recently traded around $215 per share, giving the company a market value of roughly $66.7B.
Often viewed as a defensive business, Republic Services benefits from recurring revenue, long-term municipal contracts, and steady pricing power. Looking at who owns Republic Services and how insiders have been trading helps show how large investors appear to be positioning around the stock today.
Who Are Republic Services’ Top Shareholders?
Republic Services’ shareholder base is led by large institutional investors that tend to hold through market cycles, which can help keep long-term ownership stable. Recent filings show a mix of selective accumulation and trimming, suggesting balanced sentiment rather than a strong directional shift, and for investors this points to confidence in the business alongside valuation awareness.
- Cascade Investment, L.L.C.: 109,816,832 shares (35.47%), ~$23.6B value. Cut 4,258 shares (-7.97%).
- The Vanguard Group, Inc.: 19,006,141 shares (6.14%), ~$4.09B value. Added 47,135 shares (+0.25%).
- BlackRock Institutional Trust Company, N.A.: 11,634,478 shares (3.76%), ~$2.51B value. Added 143,815 shares (+1.25%).
- State Street Investment Management (US): 9,529,273 shares (3.08%), ~$2.05B value. Cut 1,805 shares (-0.02%).
- Capital World Investors: 6,866,440 shares (2.22%), ~$1.48B value. Cut 1,539,379 shares (-18.31%).
- T. Rowe Price Associates, Inc.: 6,051,120 shares (1.95%), ~$1.30B value. Added 1,328,431 shares (+28.13%).
- Fidelity Management & Research Company LLC: 6,039,651 shares (1.95%), ~$1.30B value. Added 1,671,228 shares (+38.26%).
- Geode Capital Management, L.L.C.: 4,843,432 shares (1.56%), ~$1.04B value. Added 22,045 shares (+0.46%).
- Wellington Management Company LLP: 4,262,605 shares (1.38%), ~$918M value. Cut 707,375 shares (-14.23%).
- Pictet Asset Management Ltd.: 4,030,807 shares (1.30%), ~$868M value. Cut 1,275,628 shares (-24.04%).
Hedge Fund Highlights
One notable move came from Tairen Capital, founded by Terry Zhang, which increased its Republic Services position by over 4,000% last quarter. The firm now holds roughly $8.6M value of the stock, which may indicate growing interest in RSG’s defensive cash flow profile following recent share price weakness.
Another increase was seen from Magnetar Financial, led by Alec Litowitz, which boosted its stake by nearly 472% to about $4.2M value. While still modest in size, the sharp change suggests Magnetar may be leaning more positively on Republic Services’ long-term earnings stability.
Gotham Asset Management, run by value-focused investor Joel Greenblatt, raised its position by roughly 41%, bringing its total holding to approximately $36.6M value. The move appears consistent with Gotham’s focus on high-quality businesses with durable margins.
Meanwhile, Scopus Asset Management, founded by Alexander Mitchell, increased its exposure by nearly 39%, now holding about $8.8M value of the stock, and for investors this pattern suggests selective hedge fund interest without signs of crowded positioning.
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Republic Services’ Recent Insider Trades
Insider trades can offer useful context, though they should be viewed carefully and alongside broader ownership trends. Recent filings for Republic Services show a cluster of small purchases, primarily from directors.
- Katharine B. Weymouth (Director): Bought 478 shares for ~$100K
- Norman Thomas Linebarger (Director): Bought 6 shares for ~$1K
- Michael J. Larson (Director): Bought 114 shares for ~$24K
- Brian Scott Tyler (Director): Bought 12 shares for ~$3K
- Manuel Kadre (Director): Bought 109 shares for ~$23K
- Thomas W. Handley (Director): Bought 66 shares for ~$14K
- James P. Snee (Director): Bought 12 shares for ~$3K
- Jennifer M. Kirk (Director): Bought 66 shares for ~$14K
- Catharine D. Ellingsen (Director): Bought 88 shares for ~$18K
- Sandra M. Volpe (Director): Bought 66 shares for ~$14K
- Jonathan Vander Ark (Director): Bought 131 shares for ~$28K
- Brian A. Bales (Director): Bought 368 shares for ~$77K
- Brian M. DelGhiaccio (Director): Bought 115 shares for ~$24K
These transactions represent a very small fraction of Republic Services’ 309.6M shares outstanding, and it appears insider ownership levels were not materially affected, though for investors the clustering of modest purchases may suggest comfort with the stock near recent price levels.
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What the Ownership & Insider Trade Data Tell Us
Republic Services’ shareholder base remains anchored by large, long-term institutions led by Cascade Investment, Vanguard, and BlackRock. Hedge fund activity points to selective accumulation, while insider purchases appear limited in size and broadly distributed.
Taken together, it appears investors continue to view Republic Services as a durable, cash-generative business, though positioning across institutions and insiders suggests a measured approach as the stock trades at elevated valuation levels relative to its historical range.
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