A High Roller Buys Into the Trash Business

We already knew that Microsoft founder Bill Gates loves trash. Cascade Investment, which manages much of his wealth, is a major shareholder at Republic Services (RSG). Now SPO Advisory, a fund managed by value investor John Scully, has taken a large position in the industry as well.

According to a 13G filed with the Securities and Exchange Commission, SPO has acquired 6.6 million shares of Progressive Waste Solutions (BIN); this represents nearly 6% of the total number of outstanding shares. According to our database of 13F filings, documents which disclose a notable investor's long equity positions at the end of each quarter, the fund had not owned any shares at the end of June....530 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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