CASELLA WASTE SYS INC CWST
CL A · Common Stock · CUSIP 147448104 · ISIN US1474481041
American waste management company
- SectorUtilities
- IndustryRefuse Systems
- HeadquartersRutland, VT
- Founded1975
- Websitecasella.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($3.2m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $94.82. Options: 5 managers hold calls ($1.9m notional), 3 hold puts ($454.4k).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 278 |
| Q4 2022 | 271 |
| Q1 2023 | 267 |
| Q2 2023 | 320 |
| Q3 2023 | 300 |
| Q4 2023 | 309 |
| Q1 2024 | 311 |
| Q2 2024 | 314 |
| Q3 2024 | 345 |
| Q4 2024 | 347 |
| Q1 2025 | 374 |
| Q2 2025 | 394 |
| Q3 2025 | 391 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 122 | 161 |
| Q1 2024 | 143 | 137 |
| Q2 2024 | 153 | 125 |
| Q3 2024 | 175 | 126 |
| Q4 2024 | 157 | 149 |
| Q1 2025 | 175 | 147 |
| Q2 2025 | 174 | 171 |
| Q3 2025 | 206 | 178 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $10.5m | $814.7k | 0.08 |
| Q1 2025 | $2.4m | $1.4m | 0.57 |
| Q2 2025 | $10.3m | $634.6k | 0.06 |
| Q3 2025 | $1.9m | $454.4k | 0.24 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +1.6m |
| T. Rowe Price Investment Management, Inc. | Added | +660.6k |
| Capital Research Global Investors | Added | +566.9k |
| WELLINGTON MANAGEMENT GROUP LLP | Added | +317.2k |
| WASATCH ADVISORS LP | Added | +296.4k |
| GOLDMAN SACHS GROUP INC | Added | +241.8k |
| VOYA INVESTMENT MANAGEMENT LLC | Added | +224.7k |
| Zimmer Partners, LP | Added | +221.5k |
| Conestoga Capital Advisors, LLC | Added | +195.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ | Added | +174.9k |
Biggest sellers
| AMERICAN CENTURY COMPANIES INC | Reduced | -934.9k |
| ALLIANCEBERNSTEIN L.P. | Reduced | -795.6k |
| ROYAL BANK OF CANADA | Reduced | -469.7k |
| BESSEMER GROUP INC | Reduced | -267.7k |
| FRANKLIN RESOURCES INC | Reduced | -267.3k |
| AMERIPRISE FINANCIAL INC | Reduced | -243.6k |
| Bank of New York Mellon Corp | Reduced | -231.9k |
| Invesco Ltd. | Reduced | -193.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -150.1k |
| JANE STREET GROUP, LLC | Reduced | -126.1k |
Biggest calls
| CITADEL ADVISORS LLC | Reduced | $721.1k7.6k shares |
| JANE STREET GROUP, LLC | Added | $692.6k7.3k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $427.0k4.5k shares |
| GROUP ONE TRADING LLC | Unchanged | $9.5k100 shares |
| SIMPLEX TRADING, LLC | Reduced | $9.0k100 shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $379.5k4.0k shares |
| GROUP ONE TRADING LLC | New | $56.9k600 shares |
| SIMPLEX TRADING, LLC | New | $18.0k200 shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| BlackRock, Inc. 13G · institution filed 2026-01-08 | 14.3% |
| Conestoga Capital Advisors, LLC 13G · institution filed 2025-01-10 | 5.5% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.5% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.2% |
Fell to 5% or below in the last year: WASATCH ADVISORS LP (4.9%, 2026-10-09), VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD PORTFOLIO MANAGEMENT LLC)
Insider purchases and sales in Q3 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 7 | $3.4m | $572.3k |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 1 | $22.6k | — |
| Q4 2024 | 0 | — | 9 | $11.4m | $21.0k |
| Q1 2025 | 0 | — | 8 | $4.4m | $1.2m |
| Q2 2025 | 0 | — | 3 | $3.2m | $354.3k |
| Q3 2025 | 0 | — | 1 | $102.8k | $102.8k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-08-04 | Ligon Paul SR VP of Sustainable Growth | Sold plan | $102.8k1.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 6.0m $568.7m | Reduced -76.4k |
| BlackRock, Inc. 0.01% of their portfolio | 4.6m $433.2m | Reduced -79.4k |
| WASATCH ADVISORS LP 1.89% of their portfolio | 3.7m $351.9m | Added +296.4k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 3.3m $314.3m | Added +1.6m |
| Conestoga Capital Advisors, LLC 4.38% of their portfolio | 2.9m $272.9m | Added +195.9k |
| Invesco Ltd. 0.04% of their portfolio | 2.4m $228.1m | Reduced -193.8k |
| Capital Research Global Investors 0.04% of their portfolio | 2.0m $190.8m | Added +566.9k |
| Capital International Investors 0.03% of their portfolio | 2.0m $185.7m | Reduced -3.1k |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC 0.44% of their portfolio | 1.8m $171.7m | Added +9.7k |
| T. Rowe Price Investment Management, Inc. 0.10% of their portfolio | 1.7m $162.0m | Added +660.6k |
| WESTFIELD CAPITAL MANAGEMENT CO LP 0.66% of their portfolio | 1.6m $156.4m | Added +95.6k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 1.5m $145.5m | Added +33.2k |
| STATE STREET CORP 0.00% of their portfolio | 1.4m $136.2m | Added +2.1k |
| WELLINGTON MANAGEMENT GROUP LLP 0.02% of their portfolio | 1.4m $131.9m | Added +317.2k |
| GENEVA CAPITAL MANAGEMENT LLC 2.04% of their portfolio | 1.3m $119.2m | Added +172.2k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.78% of their portfolio | 1.2m $117.8m | Added +110.8k |
| EARNEST PARTNERS LLC 0.49% of their portfolio | 1.2m $113.4m | Reduced -69.0k |
| AMERIPRISE FINANCIAL INC 0.02% of their portfolio | 1.1m $101.2m | Reduced -243.6k |
| MACQUARIE GROUP LTD 0.12% of their portfolio | 1.0m $99.3m | Reduced -92.2k |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 950.7k $90.2m | Added +81.6k |
| NEUBERGER BERMAN GROUP LLC 0.06% of their portfolio | 934.4k $88.7m | Added +133.0k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 886.6k $84.1m | Added +241.8k |
| MORGAN STANLEY 0.00% of their portfolio | 841.8k $79.9m | Added +139.6k |
| BROWN ADVISORY INC 0.09% of their portfolio | 717.0k $68.0m | Reduced -33.1k |
| Allspring Global Investments Holdings, LLC 0.10% of their portfolio | 713.8k $64.9m | Added +12.1k |
| LOOMIS SAYLES & CO L P 0.08% of their portfolio | 696.5k $66.1m | Reduced -20.0k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 690.2k $65.5m | Added +17.2k |
| LONDON CO OF VIRGINIA 0.33% of their portfolio | 625.4k $59.3m | Reduced -24.1k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 613.7k $58.2m | Added +7.2k |
| TimesSquare Capital Management, LLC 0.83% of their portfolio | 609.2k $57.8m | Added +108.1k |
| Global Alpha Capital Management Ltd. 3.11% of their portfolio | 574.0k $54.5m | Added +47.4k |
| FRED ALGER MANAGEMENT, LLC 0.21% of their portfolio | 561.9k $53.3m | Reduced -114.2k |
| COMERICA BANK 0.20% of their portfolio | 550.6k $52.2m | Added +55.8k |
| VOYA INVESTMENT MANAGEMENT LLC 0.05% of their portfolio | 536.4k $50.9m | Added +224.7k |
| SEI INVESTMENTS CO 0.05% of their portfolio | 515.8k $48.9m | Reduced -24.9k |
| Nuveen, LLC 0.01% of their portfolio | 493.0k $46.8m | Added +62.9k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 464.6k $44.1m | Added +174.9k |
| SEGALL BRYANT & HAMILL, LLC 0.51% of their portfolio | 402.0k $38.1m | Added +37.3k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 384.9k $36.5m | Reduced -267.3k |
| Zimmer Partners, LP 0.86% of their portfolio | 370.0k $35.1m | Added +221.5k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.09% of their portfolio | 357.1k $33.9m | Added +80.2k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 353.7k $33.6m | Reduced -12.1k |
| Ranger Investment Management, L.P. 2.29% of their portfolio | 346.0k $32.8m | Added +46.5k |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 334.8k $31.8m | Reduced -97.3k |
| Clearbridge Investments, LLC 0.02% of their portfolio | 320.0k $30.4m | Added +129.8k |
| Granahan Investment Management, LLC 1.22% of their portfolio | 314.3k $29.8m | Added +1.9k |
| Select Equity Group, L.P. 0.13% of their portfolio | 312.8k $29.7m | Added +80.8k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 292.7k $27.8m | Added +5.2k |
| DF DENT & CO INC 0.34% of their portfolio | 276.6k $26.2m | Reduced -23.5k |
| BLAIR WILLIAM & CO/IL 0.07% of their portfolio | 268.0k $25.4m | Added +94.5k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 255.0k $24.2m | Reduced -469.7k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 253.7k $24.1m | Reduced -231.9k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 249.7k $23.7m | Reduced -39.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.01% of their portfolio | 248.9k $23.6m | Reduced -150.1k |
| THORNBURG INVESTMENT MANAGEMENT INC 0.31% of their portfolio | 247.4k $23.5m | Reduced -8.1k |
| GW&K Investment Management, LLC 0.19% of their portfolio | 226.5k $21.5m | Added +38.6k |
| Summit Creek Advisors LLC 2.91% of their portfolio | 210.2k $19.9m | Added +23.1k |
| KENNEDY CAPITAL MANAGEMENT LLC 0.43% of their portfolio | 205.6k $19.5m | Added +61.2k |
| California Public Employees Retirement System 0.01% of their portfolio | 197.1k $18.7m | Reduced -26.0k |
| Harvey Partners, LLC 1.69% of their portfolio | 196.0k $18.6m | Added +65.7k |
| VICTORY CAPITAL MANAGEMENT INC 0.01% of their portfolio | 190.6k $18.1m | Added +80.9k |
| Aristotle Capital Boston, LLC 0.93% of their portfolio | 190.3k $18.1m | Reduced -1.5k |
| Russell Investments Group, Ltd. 0.02% of their portfolio | 169.8k $16.1m | Added +36.5k |
| Rockefeller Capital Management L.P. 0.03% of their portfolio | 169.3k $16.1m | Added +56.2k |
| WCM INVESTMENT MANAGEMENT, LLC 0.03% of their portfolio | 166.5k $15.2m | Reduced -673 |
| Granite Investment Partners, LLC 0.89% of their portfolio | 165.7k $15.7m | Reduced -17.3k |
| Forge First Asset Management Inc. 7.22% of their portfolio | 161.7k $15.4m | New |
| Man Group plc 0.03% of their portfolio | 153.9k $14.6m | Added +65.2k |
| Tidal Investments LLC 0.06% of their portfolio | 149.9k $14.2m | Added +50.3k |
| OSTERWEIS CAPITAL MANAGEMENT INC 0.53% of their portfolio | 123.2k $11.7m | New |
| Swiss National Bank 0.01% of their portfolio | 121.1k $11.5m | Added +2.0k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 119.7k $11.4m | Added +72.7k |
| AXIOM INVESTORS LLC /DE 0.08% of their portfolio | 119.2k $11.3m | Reduced -5.1k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.03% of their portfolio | 114.6k $10.9m | Added +62 |
| Fenimore Asset Management Inc 0.22% of their portfolio | 114.2k $10.8m | New |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.02% of their portfolio | 112.7k $10.7m | Added +11.8k |
| UBS Group AG 0.00% of their portfolio | 111.8k $10.6m | Added +6.0k |
| Thrivent Financial for Lutherans 0.02% of their portfolio | 105.7k $10.0m | Added +569 |
| Aberdeen Group plc 0.02% of their portfolio | 104.4k $9.9m | Reduced -98.7k |
| UniSuper Management Pty Ltd 0.06% of their portfolio | 102.0k $9.7m | Added +29.6k |
| HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND 0.02% of their portfolio | 100.0k $9.5m | Reduced -50.0k |
| GAMCO INVESTORS, INC. ET AL 0.09% of their portfolio | 99.2k $9.4m | Unchanged |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 99.2k $9.4m | Added +3.3k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 93.1k $8.8m | Reduced -3.5k |
| Edgestream Partners, L.P. 0.26% of their portfolio | 92.2k $8.7m | Added +63.4k |
| SG Capital Management LLC 0.87% of their portfolio | 91.2k $8.6m | New |
| BARCLAYS PLC 0.00% of their portfolio | 90.4k $8.6m | Reduced -51.1k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.09% of their portfolio | 86.1k $8.2m | Added +611 |
| Catawba River Capital 3.61% of their portfolio | 83.9k $8.0m | Added +1.5k |
| LAZARD ASSET MANAGEMENT LLC 0.01% of their portfolio | 83.7k $7.9m | Added +2.8k |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 81.4k $7.7m | Added +10.2k |
| JANE STREET GROUP, LLC 0.01% of their portfolio | 80.0k $7.6m | Reduced -126.1k |
| Impax Asset Management Group plc 0.04% of their portfolio | 80.0k $7.6m | Added +20.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 71.7k $6.8m | Reduced -795.6k |
| BOOTHBAY FUND MANAGEMENT, LLC 0.17% of their portfolio | 70.1k $6.7m | New |
| NICHOLAS COMPANY, INC. 0.11% of their portfolio | 69.7k $6.6m | Added +22.1k |
| Ensign Peak Advisors, Inc 0.01% of their portfolio | 69.1k $6.6m | Reduced -74.9k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 68.6k $6.5m | Added +49.6k |
| Legal & General Group Plc 0.00% of their portfolio | 67.2k $6.4m | Reduced -4.2k |
| Qube Research & Technologies Ltd 0.01% of their portfolio | 67.1k $6.4m | Added +60.8k |