Waste Management, Inc.

The full register, from 13F filings

The Register tab above is hand research: a dozen holders, each traced to the filing it came from. This asks the same question of the whole market for the quarter ended 31-mar-2026, where 2,323 managers reported a position. Broad where the research is deep, and shallow in the ways a 13F always is.

Built from 13F filings, which report US listed, long, US custodied positions only. A register from this source is a floor rather than a level: a holder's true position can be far larger, as BlackRock's ASML stake shows at 1.28m shares in a 13F against 26.3m in its 13G/A. Holdings held through derivatives, outside US custody, or below a manager's reporting obligation do not appear. Where a holder is marked as a family, its total sums several separate filing entities and describes something no single filing describes; the constituent entities and their share counts are listed so the total can be checked. That roll-up can legitimately exceed the family's own Schedule 13G, because a 13G is filed by one legal entity: Vanguard reports Alphabet through ten advisory entities, and The Vanguard Group Inc itself reported zero after its January 2026 disaggregation.

What a reader needs to know to read these numbers

• Waste Management does not file Form 13F under CIK 0000823768. The complete EDGAR submissions JSON for this CIK (checked 17 August 2026) contains no 13F-HR or 13F-NT of any vintage among its form types, consistent with WM being an operating company rather than an institutional investment manager.
• The holdings list is empty and that is the sourced finding, not a gap. The FY2025 Form 10-K (period ended 31 December 2025, filed 9 February 2026) and the Q2 FY2026 Form 10-Q (period ended 30 June 2026, filed 29 July 2026) were fetched and searched for 'equity method', 'investments in unconsolidated entities', 'joint venture', 'non-marketable', 'nonmarketable', 'measurement alternative', 'unrealized gain', 'cost method', 'strategic investment', 'minority investment' and 'venture capital'. The only line item found is a single combined balance sheet caption, 'Investments in unconsolidated entities': $738 million as of 30 June 2026 and $779 million as of 31 December 2025 (down from $846 million at 31 December 2024).
• The FY2025 10-K breaks the $779 million balance down by ACCOUNTING METHOD, not by investee: equity method investments $98 million (2025) vs $86 million (2024); investments qualifying for proportional amortization method $624 million (2025) vs $707 million (2024); investments without readily determinable fair values (accounted for under the measurement alternative: cost minus impairment, plus or minus observable price changes) $57 million (2025) vs $53 million (2024). No individual investee name, ownership percentage or per-position carrying value is disclosed anywhere in either filing, so per the brief each affected holding is recorded as null rather than invented; the combined figures are recorded here instead.
• The $624 million proportional-amortization piece is overwhelmingly investments in low-income housing tax-credit partnerships, a tax and financing vehicle rather than a strategic equity stake in an operating company; WM does not consolidate these because it is not the primary beneficiary. The $98 million equity-method piece and $57 million measurement-alternative piece are the most plausible homes for WM's minority stakes in waste-diversion, recycling and renewable-energy technology businesses referenced narratively in the 10-K's impairment and divestiture disclosures (a $54 million fair-value charge in 2024 tied to 'an investment the Company holds in a waste diversion technology business', a $14 million 2024 loss on 'divestiture of a minority investment in a medical waste company' concurrent with the Stericycle acquisition, and $107 million of 2023 impairment charges 'for certain investments in waste diversion technology businesses') but none of these businesses is named in the filings, and the 2024 items describe positions already impaired or divested by the time of this research.
• Stericycle was acquired outright on 4 November 2024 for $62.00 per share in cash (total enterprise value $7.2 billion), pursuant to a merger agreement dated 3 June 2024. It is a wholly owned operating subsidiary within the Healthcare Solutions segment and is excluded from holdings per the brief.
• Waste Management has a single class of common stock, $0.01 par value, one vote per share. There is no dual-class structure and no founder control block.
• Register denominators, kept apart per the brief: the 30 June 2026 13F rows (BlackRock, State Street, Geode, Morgan Stanley, JPMorgan, FMR) use 399,715,184 shares outstanding, from the Q2 FY2026 10-Q cover as of 24 July 2026. The Vanguard row is for the quarter ended 31 December 2025 (Vanguard's own CIK 0000102909 filed Form 13F-NT, a notice only, for the quarters ended 31 March 2026 and 30 June 2026, so no more recent Vanguard share count is available under this CIK) and its percentage uses 403,335,781 shares outstanding from the FY2025 10-K cover as of 5 February 2026. The Gates Foundation Trust / William H. Gates III row uses the Schedule 13G/A's own denominator of 402,867,051 shares, which the filing itself sources to WM's 10-Q filed 28 October 2025. The four insider rows use the 2026 proxy statement's own denominator of 402,913,509 shares as of the 17 March 2026 record date.
• Proxy disagreement, recorded rather than resolved. The 2026 DEF 14A's own 'Security Ownership of Certain Beneficial Owners' table lists Vanguard at 36,159,856 shares (9.0 percent) and BlackRock at 28,665,838 shares (7.1 percent), both sourced by the proxy to Schedule 13G/A filings from January and February 2024 respectively, which are stale relative to each manager's own 30 June 2026 (BlackRock) and 31 December 2025 (Vanguard) Form 13F-HR figures used in the register above. The register uses the managers' own, more recent 13F data.
• The market capitalisation of $89.76 billion is the rounded figure published by stockanalysis.com as of 14 August 2026, at a closing price of $224.55. Cross-check: 399,715,184 shares x $224.55 implies approximately $89.76 billion, consistent.
• Insider rows overlap. 'All directors and currently-serving executive officers as a group (20 persons)' (1,035,250 shares: 732,829 owned plus 302,421 under exercisable options) contains the individually listed insiders (Fish, Morris, Rankin) above and must not be summed with them; it is marked as an aggregate with residual_label for members not individually named.