RSG

RSG

RSG

Letters With This Ticker

Quarter	Letter Date	Fund Name	QTD	YTD	Tickers	Keywords/Themes	Theme Commentary	Pitches	Letter
2024 Q3	Sep 30, 2024	YCG Investment	-	-	AON, CME, CNI, CP, GOOGL, MMC, OR.PA, PGR, RMS.PA, RSG, UL, WM	Bear Markets, insurance, long-term, Luxury, Pricing Power, Railroads, Waste management	Manager increased conviction in Hermes over L'Oreal, believing luxury brands with the most desirable status symbols through heritage, storytelling, and controlled supply have the most favorable long-term economics. Hermes handbags routinely sell above retail prices, with exclusive $100,000-$200,000 bags selling at auction for double their retail price.		View
2025 Q2	Jul 11, 2025	Hennessy Equity and Income Fund	-	-	BLK, ENTG, HD, LOW, MLM, ODFL, PGR, RSG, SCHW	fixed income, Quality, semiconductors, tariffs, Trade Policy, Valuations	The portfolio is positioned to weather tariff uncertainty through companies with strong pricing power and financial flexibility. Service-oriented companies like Progressive and Schwab are less susceptible to direct tariff effects, while onshoring beneficiaries include Republic Services and Martin Marietta.		View
2025 Q2	Jun 30, 2025	The Gabelli Dividend Growth Fund	6.3%	-	AMETEK, AMZN, AXP, BATRA, BK, BRK.A, CAT, CHWY, CNH, CR, CVS, CZR, DEERE, DTE.DE, ELAN, FOX, FRPT, IDXX, IVG.DE, MA, MFI.TO, MLI, MSFT, MSGS, NEM, NESN.SW, NFG, NFLX, NVDA, PETCO, RR.L, RSG, SBGI, SONY, TDS, TGNA, TMUS, TRATON.DE, TRUP, WBD, ZTS	AI, defense, gold, M&A, Pet Care, Sports, tariffs, Utilities	The Trump administration implemented sweeping tariffs on April 2nd (Liberation Day), creating significant market volatility. While initial tariff rates were very high, bilateral trade deals with the UK, China, Vietnam, and India reduced effective rates. The administration appears intent on rolling back globalization, with tariffs serving as both negotiation tactics and policy tools.	WCC KR	View
2025 Q2	Jun 30, 2025	The Gabelli International Small Cap Fund	13.8%	-	AAPL, AME, AMZN, AVGO, AXP, BATRA, BK, BMI, BMY, BRK.B, C, CAT, CHWY, CR, CVS, CVX, CW, DAN, DE, ELAN, EVRG, FRPT, GATX, GOOGL, GPC, HES, IDXX, ITT, JPM, KKR, LION, MA, META, MFI.TO, MLI, MSFT, MSGS, NEE, NEM, NFG, NFLX, NVDA, ORCL, PARA, RSG, SONY, SPGI, STT, T, TMUS, TRUP, V, WFC, ZTS	defense, energy, gold, Sports, tariffs, technology, Utilities	The Trump administration's tariff policies dominated market sentiment in Q2 2025, with Liberation Day (April 2) introducing sweeping tariffs that initially triggered a 21% market drawdown. However, a 90-day pause and bilateral trade agreements with key partners helped stabilize markets. The administration appears intent on rolling back globalization, with effective weighted average tariff rates potentially reaching 18%.	5444 JP TCAP LN	View
2023 Q2	Jun 30, 2023	YCG Investment	-	-	0700.HK, BABA, BKNG, CME, CNI, CP, EL, META, RSG, WM	Capital markets, inflation, Network Effects, Onshoring, Pricing Power, Quality, Railroads, Waste management	Canadian Pacific Kansas City Limited and Canadian National Railway are two of six class 1 railroads in North America, each benefiting from physical network effects and NIMBY dynamics that make new railroad construction nearly impossible. The number of North American class 1 railroads has plummeted from over 180 to just 6 today, creating oligopolistic pricing power that has inflected from consistent declines to almost 20 years of consistent increases.	CME CNI CP.TO RSG BRWM.L	View
2024 Q1	May 15, 2024	Merion Road Capital	5.4%	11.2%	BSET, CLH, CRH, GFL, JBHT, RSG, SMC, WCN, WM	Infrastructure Spending, materials, small caps, value, Waste management	Manager built Clean Harbors into top holding, viewing hazardous waste as having similar characteristics to municipal solid waste with essential service nature, regional monopolies, and scarce assets. Industry margins expanding due to consolidation and rational pricing approach, with CLH trading at discount to peers despite market positioning.	BSET CLH	View
2025 Q1	Apr 8, 2025	Merion Road Capital	4.9%	4.9%	BSET, CLH, CRH, GFL, JBHT, RSG, SMC, WCN, WM	Cement, Furniture, Infrastructure Spending, small caps, value, Waste management	Manager built Clean Harbors into top holding, viewing hazardous waste as having similar characteristics to municipal solid waste with essential service nature, regional monopolies, and scarce assets. Industry consolidation and pricing discipline by Republic Services is driving margin expansion across the sector.	BSET CLH	View
2024 Q1	Apr 25, 2024	Pelican Bay Capital Management	7.6%	7.6%	BLDR, BRK-B, CBOE, CPRI, EOG, EXPE, FANG, FIS, Gold, GOOG, ON, RSG, TOL, TPR, VZ	Concentration, energy, gold, Homebuilders, Quality, value	Homebuilders have become less financially leveraged and cyclical, mitigating past concerns about rising interest rates. The manager believes investors are recognizing this shift and starting to value homebuilders based on price-to-earnings ratios rather than historical price-to-book metrics. Recent relative strength of homebuilders has lots of runway left.	Gold	View
2025 Q1	Apr 15, 2024	The London Company Large Cap	2.3%	2.3%	BLK, BRK-B, BRKR, ENTG, FDX, GOOG, HD, ODFL, PGR, RSG	Defensive, financials, large cap, Quality, semiconductors, technology, value	The portfolio's exposure to Lower Volatility and Quality factors performed well during market correction. Quality factors have historically posted their best relative returns during periods of decelerating growth and through recessions, and typically lag in early recovery but keep pace during mid-cycle years.	ENTG	View
2025 Q1	Mar 31, 2025	Fenimore Small Cap Strategy	-5.3%	-5.3%	AJG, APH, BWIN, CDW, CTAS, DFH, ENTG, HEI, HGTY, IEX, MCHP, MKC, POOL, ROST, RSG, SITE, SPSC, STE, TT, VRSK	insurance, Quality, small cap, tariffs, Trade Policy, value	The new administration's tariff announcements sparked market volatility and fears of higher inflation and potential recession. Companies are scrambling to adjust to the rapidly changing trade landscape, though many have diversified supplier bases since the first term and COVID.	BWIN	View
2025 Q1	Mar 31, 2025	Fenimore Dividend Focus Strategy	1.5%	1.5%	A, AJG, APH, BR, CDW, CTAS, ENTG, HEI, IEX, MCHP, MKC, PAYX, POOL, ROST, RSG, STE, SYK, TT, VRSK	dividends, insurance, mid cap, Quality, Trade Policy, value	The first quarter was marked by significant volatility driven by the new administration's tariff announcements, which sparked fears of higher inflation and potential recession. The economic impact of tariffs will take time to manifest as businesses scramble to adjust to a rapidly changing landscape.		View
2025 Q1	Mar 31, 2025	Fenimore Value Strategy	-1.1%	-1.1%	AJG, APH, AZO, BN, BR, BRK.B, BRO, CDW, FAST, HEI, IEX, KEYS, MKL, PAYX, PGR, ROST, RSG, SYK, TT, ZBRA	financials, insurance, mid cap, Quality, tariffs, Trade Policy, value	The first quarter was marked by significant volatility driven by the new administration's tariff announcements, which sparked fears of higher inflation and potential recession. The economic impact of tariffs will take time to manifest as businesses scramble to adjust to a rapidly changing landscape. Fenimore's portfolio companies have diversified their supplier bases and are more prepared for tariff impacts than in previous years.		View
2024 Q1	Mar 31, 2024	Fenimore Value Strategy	10.9%	10.9%	AJG, APH, BR, BRO, BRO.TO, CDW, DG, ENTG, IEX, KEYS, MCHP, MKL, PGR, PNFP, ROST, RSG, SYK, TROW, TT, VMC	financials, insurance, mid cap, semiconductors, technology, value	Brown & Brown continues to benefit from an extended favorable rate environment in the property and casualty insurance markets that it serves as a broker. Progressive Corporation is benefiting from previous rate actions taken to cover the cost of litigation and automobile repairs, which have improved their loss ratio and underwriting profitability significantly.		View
2025 Q3	Nov 16, 2025	The Gabelli ABC Fund	3.0%	-	AAPL, AMETEK, AMZN, AXP, BK, BRK.B, CAT, CNH, DE, GOOGL, ITT, META, MSFT, MSGS, NEM, NFLX, NVDA, RSG, SONY, TSLA, WBD	AI, energy, financials, gold, M&A, rates, technology, Trade	Artificial Intelligence continues to be the primary driver of market returns, with most of the Magnificent Seven at or near all time highs. The scale of investment in AI infrastructure continues to surpass expectations, with the five largest cloud computing platforms communicating capex plans for 2025 aggregating to approximately $380 billion.	OR US ECG US	View
2025 Q3	Nov 16, 2025	The Gabelli Dividend Growth Fund	6.8%	-	AAPL, AME, AMZN, AXP, BK, BRK.B, CAT, CHWY, DE, GOOGL, ITT, META, MSFT, NEM, NFLX, NVDA, RSG, SONY, TSLA, WBD	AI, gold, growth, M&A, Markets, rates, technology, Trade	Artificial Intelligence continues to be the primary driver of market returns, with most of the Magnificent Seven at or near all time highs. The scale of investment in AI infrastructure continues to surpass expectations, with the five largest cloud computing platforms communicating capex plans for 2025 aggregating to approximately $380 billion.	MSGS US	View
2025 Q3	Nov 16, 2025	The Gabelli Equity Income Fund	6.1%	-	AAPL, AME, AMZN, AXP, BK, BRK.B, CAT, CNH, DE, GOOGL, ITT, META, MSFT, NEM, NFLX, NVDA, RSG, SONY, TSLA, WBD	AI, Buybacks, defense, gold, M&A, rates, Trade, Utilities	Artificial Intelligence continues to be the primary driver of market returns, with most of the Magnificent Seven at or near all time highs. The scale of investment in AI infrastructure continues to surpass expectations, with the five largest cloud computing platforms communicating capex plans for 2025 aggregating to approximately $380 billion.	POLR LN 3110 JP	View
2025 Q3	Nov 16, 2025	The Gabelli Global Content & Connectivity Fund	12.3%	-	AAPL, AME, AMZN, AXP, BK, BRK.B, CAT, COST, DE, GOOGL, ITT, META, MSFT, NEM, NFLX, NVDA, RSG, SONY, TSLA, WBD	AI, Federal Reserve, gold, M&A, Pet Care, technology, Trade Policy, Value Investing	Artificial Intelligence continues to be the primary driver of market returns, with most of the Magnificent Seven at or near all time highs. The scale of investment in AI infrastructure continues to surpass expectations, with the five largest cloud computing platforms communicating capex plans for 2025 aggregating to ~$380bn.		View
2025 Q3	Oct 17, 2025	Harbor Mid Cap Value Fund	4.1%	0.3%	AL, AMAT, ANSS, ARW, CBRE, CHX, COLD, CTRA, DRI, GPN, HP, ICE, MAS, MUR, RGA, RJF, RSG, SF, SMG, ST, SWKS, ULTA, WWD	aerospace, AI, Commercial real estate, fundamentals, mid cap, Quality, Trade Policy, value	Trade tensions dominated headlines with Liberation Day tariffs affecting imports from China, Europe, and Canada causing significant market volatility. Markets initially dropped 19% following tariff announcements before recovering as policy reversals and bilateral negotiations helped stabilize conditions. Long-term implications of trade policy changes remain uncertain for supply chains and corporate profitability.	WWD US	View
2022 Q3	Oct 12, 2022	Pelican Bay Capital Management	-4.7%	-10.7%	ATUS, BLDR, EOG, RSG, VZ	-			View
2025 Q4	Jan 21, 2026	The London Company Large Cap	0.2%	8.3%	BLK, CB, FDX, FI, GOOG, NEU, NSC, RSG	dividends, financials, healthcare, large cap, Quality, technology, value	The manager emphasizes investing in profitable, financially stable, quality large-cap companies with high returns on unleveraged operating capital, strong cash generation, and conservative leverage. Quality factors were headwinds during Q4 as volatility factors outperformed, but the manager believes the environment is becoming more conducive to fundamentals where earnings growth, dividends, and balance-sheet strength matter more than valuation multiple expansion. Value outperformed Growth across the market cap spectrum during Q4, with value factors being the primary driver of returns, led by stocks trading at lower prices relative to sales and book value. The manager sees growing value in true active share and diversified exposure to high-quality businesses in a market defined by elevated valuations and concentration risk. The manager focuses on companies with strong capital allocation and dividend-paying capabilities. Several portfolio holdings like Chubb and BlackRock are highlighted for their steady capital returns and aggressive buyback programs, reinforcing the emphasis on shareholder-oriented management and consistent dividend policies.	RSG NSC BLK NEU FI CB FDX GOOG	View
2025 Q4	Jan 13, 2026	Fenimore Dividend Focus Strategy	-4.4%	1.9%	AJG, APH, AVY, BR, CDW, CTAS, HEI, HLI, IEX, JKHY, MCHP, MLM, PAYX, ROST, RSG, STE, SYK, TT, VRSK, WSO	AI, dividends, healthcare, mid cap, Quality, technology, value	Fenimore maintains focus on high-quality companies with strong balance sheets, consistent profitability, and prudent capital allocation. Quality as a factor remained out of favor despite many businesses showing strong long-term fundamental prospects. The firm believes solid business fundamentals should reassert themselves as the primary driver of stock prices in the long run. AI excitement and related infrastructure builds continued to drive the market, drawing capital away from nearly every other area. Investor enthusiasm was driven toward businesses with AI-related exposures. Amphenol benefited from data center buildouts supporting AI, with its IT Datacom segment growing 128% organically. Dividend-paying companies lagged non-dividend-paying companies by more than 50%. On average, portfolio holdings raised their dividends 9% over 2025, in line with their earnings growth. The top three dividend raisers were Amphenol (55%), Cintas (15%), and Verisk Analytics (15%). Valuations for portfolio companies are becoming more attractive while other indices become more overvalued. The fund sees compelling valuations within the portfolio, which management believes sets the fund up for solid future performance. Many quality franchises are trading at relative multi-year lows.	TT APH JKHY ROST	View
2024 Q3	Sep 30, 2024	Cooper Investors Global Equities Fund (Unhedged)	5.5%	5.4%	BKNG, ERF.PA, FYBR, GOOGL, LSEG.L, NFLX, RSG, RTO.L, TKO, V, VZ	Global Equities, healthcare, long-term, Media, Quality, Telecommunications, Value Investing	Frontier Communications is converting its legacy copper network into future-proof fibre infrastructure. The completed network is likely to produce highly resilient cash flows which may be worth multiples of the company's current market value. Frontier began its multi-billion dollar network upgrade in 2021 and is expected to complete the build in mid-2026.		View
2023 Q4	Jun 2, 2024	Alta Fox Capital Management	4.2%	12.5%	RSG, SES.TO, WCN	activism, Canada, consumer, small caps, value, Waste management	The fund initiated a new position in Secure Energy Services Inc, a Canadian energy waste management company that has consolidated its industry through acquisitions. The company is divesting non-core assets and trading at attractive valuations compared to US waste management peers, with potential for 100%+ appreciation.	SES.TO	View

Pitches With This Ticker

Date	Pitch Type	Author	Company	Industry	Sub Industry	Bull / Bear	Stock Exchange	Keywords	Action
Apr 28, 2026	Fund Letters	YCG Investment	Republic Services Inc.	Industrials	Environmental & Facilities Services	Bull	NYSE	defensive, environmental services, Industrials, Landfills, network effects, Nimby, North America, Pricing power, Toll Collector, waste management	View Pitch
Jan 27, 2026	Fund Letters	Brian Campbell	Republic Services, Inc.	Industrials	Environmental & Facilities Services	Bull	New York Stock Exchange	cashflow, Defensiveness, insider buying, Pricing power, waste management	View Pitch
Nov 5, 2025	Substack	Monopolistic Investor	Republic Services	Industrials	Waste Management	Neutral		barriers to entry, commodity prices, efficiency metrics, investment thesis, market share, Pricing power, Recycling, Revenue Growth, valuation, waste management	View Pitch

BSD Shareholders of RSG

This report provides a detailed summary of investor holdings for a specified stock ticker, highlighting key metrics such as fund name, total assets under management (AUM), invested value, portfolio weight, and shares owned. It also tracks changes in share ownership during the last quarter, including the percentage of shares bought or sold and the percentage of outstanding shares owned. The data is generated using an API that processes investor holdings and calculates these values for each fund. This report helps investors and analysts monitor the stock positions of major funds, identify investment trends, and assess the influence of large investors on individual stocks.

Filing Date: September 30, 2025

Manager Name	Fund Name	Fund AUM	Invested Value	Portfolio Weight	Shares Owned	Shares Bought / Sold During Quarter	% Bought / Sold During Quarter	% of Shares Outstanding Owned
No investor data available.

Join for free and get access to the buyside

Get insights from the world's most influential hedge fund investors direct to your inbox

Follow Us On: