Waste Management

WM • NYSE

Waste Management is a waste management company in the industrials sector on NYSE, led by James C. Fish, Jr., with a market cap of $86.3B. As of Q3 2025, 79% of shares are held by 2,103 institutional investors, with VANGUARD GROUP INC as the largest holder at 9.54%.

Chief Executive OfficerJames C. Fish, Jr.

Market Cap$86.3B

Waste Management

Industrials

Employees48.0K

Websitewm.com

Country

United States of America

Overview

Overview of institutional ownership in WM as of Q3 2025 with a market cap of $89.0B

All Institutions

Institutions: 2,103
Value Held: $70.1B
Shares Held: 317.4M
Avg Position: $33.3M
Median Position: $1.1M

Hedge Funds

Hedge Funds: 82
Value Held: $2.0B
Shares Held: 8.9M
Avg Position: $23.9M
Median Position: $1.9M

Ownership Breakdown

Institutional (non-HF)

76.54%

$68.1B

Hedge Funds

2.21%

$2.0B

Retail & Other

21.25%

$18.9B

Based on market cap of $89.0B as of Q3 2025. Institutional (non-HF) excludes hedge funds to avoid double counting.

Biggest Investors

Institutions with the largest positions in WM as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
VANGUARD GROUP INC Institution	Salim Ramji CEO	$8.5B 0.13% of portfolio	9.54% 38.4M shares	≤ Q2 2013 Held for 12y 5m+	$6.69T
B BlackRock, Inc. Institution	-	$6.6B 0.12% of portfolio	7.39% 29.8M shares	≤ Q2 2013 Held for 12y 5m+	$5.67T
B BILL & MELINDA GATES FOUNDATION TRUST Institution	-	$6.4B 17.47% of portfolio	7.18% 28.9M shares	≤ Q2 2013 Held for 12y 5m+	$36.6B
STATE STREET CORP Institution	Ronald P. O'Hanley CEO	$3.8B 0.13% of portfolio	4.25% 17.1M shares	≤ Q2 2013 Held for 12y 5m+	$2.88T
GEODE CAPITAL MANAGEMENT LLC ETF Provider	David Kenneth Lane CEO	$2.0B 0.12% of portfolio	2.20% 8.9M shares	≤ Q2 2013 Held for 12y 5m+	$1.57T
MORGAN STANLEY RIA/Wealth	Jed Finn CEO	$1.7B 0.10% of portfolio	1.89% 7.6M shares	≤ Q2 2013 Held for 12y 5m+	$1.65T
AMERIPRISE FINANCIAL INC Institution	Jim Cracchiolo CEO	$1.3B 0.29% of portfolio	1.41% 5.7M shares	≤ Q2 2013 Held for 12y 5m+	$433.11B
PARNASSUS INVESTMENTS /CA Long Only Manager	Benjamin Elliot Allen CEO	$1.2B 2.86% of portfolio	1.39% 5.6M shares	≤ Q2 2013 Held for 12y 5m+	$43.4B
NORTHERN TRUST CORP Institution	Michael G. O'Grady CEO	$873.3M 0.11% of portfolio	0.98% 4.0M shares	≤ Q2 2013 Held for 12y 5m+	$782.01B
WELLS FARGO & COMPANY/MN Institution	Charles W. Scharf CEO	$825.3M 0.17% of portfolio	0.93% 3.7M shares	Q1 2020 Held for 5y 8m	$488.61B

Net Capital Flow

Institutional buying and selling activity for WM in Q3 2025

Net Flow: −$394.1M
Buyers: 893
Sellers: 903
Total Bought: +$3.3B
Total Sold: −$3.7B
Avg Position: $32.3M

Biggest Buyers

Institution	Net Bought	Current Position
V Vontobel Holding Ltd. Institution	+$397.7M +1.8M shares	$487.2M 2.2M shares
C Capital International Investors Institution	+$207.5M +939.5K shares	$302.5M 1.4M shares
Holocene Advisors, LP Hedge Fund•Long/Short	+$192.0M +869.5K shares	$309.3M 1.4M shares
A Assenagon Asset Management S.A. Institution	+$177.6M +804.3K shares	$195.7M 886.2K shares
VANGUARD GROUP INC Institution	+$171.0M +774.3K shares	$8.5B 38.4M shares
BALYASNY ASSET MANAGEMENT LLC Hedge Fund•Multi-Strategy	+$145.9M +660.8K shares	$150.5M 681.4K shares
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	+$101.2M +458.1K shares	$191.0M 864.9K shares
Capital Research Global Investors RIA/Wealth	+$84.8M +384.2K shares	$447.1M 2.0M shares
Sustainable Growth Advisers, LP Long Only Manager	+$80.5M +364.5K shares	$720.4M 3.3M shares
BANK OF NOVA SCOTIA / Institution	+$65.0M +294.3K shares	$109.6M 496.2K shares

Biggest Sellers

Institution	Net Sold	Current Position
B BILL & MELINDA GATES FOUNDATION TRUST Institution	−$728.7M −3.3M shares	$6.4B 28.9M shares
STATE STREET CORP Institution	−$293.7M −1.3M shares	$3.8B 17.1M shares
UBS GLOBAL ASSET MANAGEMENT AMERICAS INC Long Only Manager	−$188.0M −851.2K shares	$663.4M 3.0M shares
T T. Rowe Price Investment Management, Inc. Insurance Manager	−$143.3M −648.8K shares	$3.5M 15.6K shares
ARROWSTREET CAPITAL LIMITED PARTNERSHIP Hedge Fund•Quant	−$123.9M −561.3K shares	$104.6M 473.7K shares
Marshall Wace LLP Institution	−$120.0M −543.4K shares	$25.2M 114.1K shares
NORDEA INVESTMENT MANAGEMENT AB Institution	−$118.0M −535.0K shares	$726.4M 3.3M shares
A Amundi Institution	−$100.9M −463.2K shares	$682.6M 3.1M shares
D DZ BANK AG Deutsche Zentral Genossenschafts Bank, Frankfurt am Main Institution	−$83.4M −377.8K shares	$141.3M 639.9K shares
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	−$79.8M −349.0K shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited WM in Q3 2025

New Positions: 51
New Value: $47.3M
Exited Positions: 142
Exited Value: $413.9M

New Positions

Institution	Position Value
Night Squared LP Hedge Fund•Long/Short	$8.4M 37.9K shares
B Bell Asset Management Ltd Long Only Manager	$4.9M 22.4K shares
WESTFIELD CAPITAL MANAGEMENT CO LP Long Only Manager	$4.1M 18.8K shares
M MORTON COMMUNITY BANK Institution	$3.4M 16.9K shares
L LOCKHEED MARTIN INVESTMENT MANAGEMENT CO Institution	$3.1M 14.0K shares
W Whitford Management LLC Institution	$2.7M 12.4K shares
Brookmont Capital Management Long Only Manager	$2.7M 12.3K shares
W Whalen Wealth Management Inc. RIA/Wealth	$1.9M 8.6K shares
A Aventail Capital Group, LP Hedge Fund•Long/Short	$1.6M 7.1K shares
Uniplan Investment Counsel, Inc. RIA/Wealth	$1.3M 5.9K shares

Exited Positions

Institution	Previous Position
A Alyeska Investment Group, L.P. Hedge Fund•Multi-Strategy	$79.8M 349.0K shares
F Freestone Grove Partners LP Hedge Fund•Multi-Strategy	$34.8M 152.2K shares
R Railway Pension Investments Ltd Institution	$32.9M 144.0K shares
Point72 Asset Management, L.P. Hedge Fund•Multi-Strategy	$31.2M 136.4K shares
L Laurel Wealth Advisors LLC RIA/Wealth	$27.5M 120.4K shares
C Cubist Systematic Strategies, LLC Institution	$23.1M 100.7K shares
Trexquant Investment LP Hedge Fund•Quant	$17.1M 74.6K shares
K KINGDON CAPITAL MANAGEMENT, L.L.C. Hedge Fund•Long/Short	$16.0M 70.0K shares
P Prana Capital Management, LP Hedge Fund•Long/Short	$15.3M 66.9K shares
A AXA Institution	$14.5M 63.5K shares

Options Activity

Institutions with the largest Call and Put options positions in WM as of Q3 2025

Call Positions: 39
Call Value: $446.5M
Put Positions: 31
Put Value: $221.6M

Call Positions

Institution	Position Value
J JANE STREET GROUP, LLC Institution	$85.5M 3.9K contracts
Oribel Capital Management, LP Hedge Fund•Long/Short	$70.4M 3.2K contracts
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$64.6M 2.9K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$45.3M 2.1K contracts
UBS Group AG Institution	$36.1M 1.6K contracts
W WOLVERINE TRADING, LLC Institution	$30.1M 1.4K contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$15.9M 719.0 contracts
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$13.2M 599.0 contracts
P Parallax Volatility Advisers, LLC Hedge Fund•Vol Arbitrage	$12.7M 575.0 contracts
C Cubist Systematic Strategies, LLC Institution	$12.6M 569.0 contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$72.6M 3.3K contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$34.7M 1.6K contracts
UBS Group AG Institution	$20.3M 917.0 contracts
MILLENNIUM MANAGEMENT LLC Hedge Fund•Multi-Strategy	$12.7M 573.0 contracts
CAPITAL FUND MANAGEMENT S.A. Hedge Fund•Quant Macro	$11.0M 498.0 contracts
W WOLVERINE TRADING, LLC Institution	$10.2M 463.0 contracts
H HSBC HOLDINGS PLC Institution	$8.6M 391.0 contracts
J JANE STREET GROUP, LLC Institution	$8.6M 389.0 contracts
CAPSTONE INVESTMENT ADVISORS, LLC Hedge Fund•Multi-Strategy	$7.6M 343.0 contracts
C Cubist Systematic Strategies, LLC Institution	$6.8M 310.0 contracts

Most Committed Institutions

Institutions with WM as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Morgan Stanley Institutional Investment Advisors LLC Pension/Endowment	Brian Hale Weinstein President	42.06% $350.0M	0.39% 1.6M shares	Q2 2025 Held for 5 months	$832.0M
B BILL & MELINDA GATES FOUNDATION TRUST Institution	-	17.47% $6.4B	7.18% 28.9M shares	≤ Q2 2013 Held for 12y 5m+	$36.6B
E ECOFI INVESTISSEMENTS SA Institution	-	9.75% $8.1M	0.01% 36.8K shares	Q2 2024 Held for 1y 5m	$83.3M
TLW Wealth Management, LLC RIA/Wealth	Jesse Lee Vervelde Member	6.70% $11.7M	0.01% 53.0K shares	Q3 2019 Held for 6y 2m	$174.8M
T Terra Alpha Investments LLC Hedge Fund•ESG	Timothy Peter Dunn CIO	4.61% $4.5M	0.01% 20.5K shares	Q4 2024 Held for 11 months	$98.1M
P PICTET BANK & TRUST Ltd Institution	-	4.51% $3.8M	0.00% 17.0K shares	Q1 2024 Held for 1y 8m	$83.2M
Atwater Malick LLC RIA/Wealth	Matthew Charles Malick Managing Partner	4.49% $15.5M	0.02% 70.0K shares	Q4 2018 Held for 6y 11m	$344.4M
Chapman Investment Management, LLC RIA/Wealth	Scott Andrew Chapman CEO	4.40% $6.2M	0.01% 28.0K shares	Q4 2019 Held for 5y 11m	$140.6M
Sustainable Growth Advisers, LP Long Only Manager	Peter Joseph Seuffert COO	4.23% $720.4M	0.81% 3.3M shares	Q1 2024 Held for 1y 8m	$17.0B
Westchester Capital Management, Inc. RIA/Wealth	Cindy Lou Christensen CEO	4.15% $19.3M	0.02% 87.4K shares	≤ Q2 2013 Held for 12y 5m+	$465.2M

Hedge Fund Spotlight

Discover hedge funds investing in WM

CITADEL ADVISORS LLC

Hedge Fund • Multi-Strategy

Portfolio ManagerKenneth Cordele Griffin

Portfolio Value: $122.08B
Positions: 5,531
Last Reported: Q3 2025

Sector Allocation

Position in Waste Management

Market Value: $191.0M
Shares Held: 864.9K
Portfolio Weight: 0.16%
Owned Since: 2013-Q2

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