WASTE CONNECTIONS INC WCN
COM · Common Stock · CUSIP 94106B101 · ISIN CA94106B1013
North American integrated waste services company
- SectorUtilities
- IndustryRefuse Systems
- HeadquartersThe Woodlands, TX
- Founded1997
- Websitewasteconnections.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 ($245.9m this quarter). Holder counts are more reliable. Shares outstanding: 252.0m as of 2026-07-10, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $163.33. Options: 16 managers hold calls ($86.2m notional), 15 hold puts ($54.8m).
Trends to Q2 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 566 |
| Q4 2022 | 601 |
| Q1 2023 | 601 |
| Q2 2023 | 605 |
| Q3 2023 | 607 |
| Q4 2023 | 639 |
| Q1 2024 | 682 |
| Q2 2024 | 696 |
| Q3 2024 | 729 |
| Q4 2024 | 737 |
| Q1 2025 | 738 |
| Q2 2025 | 767 |
| Q3 2025 | 749 |
| Q4 2025 | 813 |
| Q1 2026 | 794 |
| Q2 2026 | 837 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 343 | 313 |
| Q4 2024 | 299 | 342 |
| Q1 2025 | 328 | 350 |
| Q2 2025 | 382 | 295 |
| Q3 2025 | 329 | 352 |
| Q4 2025 | 364 | 332 |
| Q1 2026 | 343 | 412 |
| Q2 2026 | 406 | 378 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2025 | $216.8m | $14.2m | 0.07 |
| Q4 2025 | $52.5m | $24.3m | 0.46 |
| Q1 2026 | $68.2m | $27.2m | 0.40 |
| Q2 2026 | $86.2m | $54.8m | 0.64 |
Biggest buyers
| Invesco Ltd. | Added | +3.2m |
| AQR CAPITAL MANAGEMENT LLC | Added | +3.0m |
| Atlas FRM LLC | New | +1.5m |
| Consulta Ltd | New | +1.1m |
| ROYAL BANK OF CANADA | Added | +978.0k |
| Connor, Clark & Lunn Investment Management Ltd. | Added | +815.8k |
| T. Rowe Price Investment Management, Inc. | Added | +757.4k |
| ALLIANCEBERNSTEIN L.P. | Added | +706.2k |
| FIL Ltd | Added | +627.6k |
| BANK OF MONTREAL /CAN/ | Added | +530.0k |
Biggest sellers
| FMR LLC | Reduced | -3.6m |
| GOLDMAN SACHS GROUP INC | Reduced | -2.3m |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -2.1m |
| Stockbridge Partners LLC | Reduced | -1.3m |
| MONTRUSCO BOLTON INVESTMENTS INC. | Reduced | -847.4k |
| PRINCIPAL FINANCIAL GROUP INC | Reduced | -802.4k |
| Rathbones Group PLC | Reduced | -673.0k |
| Capital International Investors | Reduced | -645.4k |
| Capital Research Global Investors | Reduced | -540.2k |
| CIBC Asset Management Inc | Reduced | -435.5k |
Biggest calls
| TORONTO DOMINION BANK | Added | $19.1m114.5k shares |
| SIG North Trading, ULC | Added | $17.0m101.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $14.0m84.0k shares |
| JANE STREET GROUP, LLC | Reduced | $8.8m52.5k shares |
| JPMORGAN CHASE & CO | Added | $6.3m37.6k shares |
| Twin Tree Management, LP | Reduced | $5.9m35.6k shares |
| IMC-Chicago, LLC | Added | $3.9m23.1k shares |
| BANK OF MONTREAL /CAN/ | Added | $3.0m17.9k shares |
| CITADEL ADVISORS LLC | Added | $2.4m14.4k shares |
| Murchinson Ltd. | New | $2.4m14.4k shares |
Biggest puts
| Oribel Capital Management, LP | New | $14.4m86.2k shares |
| CITADEL ADVISORS LLC | Added | $11.5m69.0k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | New | $6.3m37.7k shares |
| SIG North Trading, ULC | Added | $4.5m27.1k shares |
| JANE STREET GROUP, LLC | Added | $4.0m24.1k shares |
| Walleye Trading LLC | Added | $3.5m20.7k shares |
| IMC-Chicago, LLC | Added | $3.1m18.6k shares |
| Murchinson Ltd. | New | $2.4m14.4k shares |
| BRANT POINT INVESTMENT MANAGEMENT LLC | New | $1.7m100 shares |
| BOOTHBAY FUND MANAGEMENT, LLC | New | $1.5m8.8k 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 |
|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-28 | 7.8% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales since 1 Apr 2026
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 2024 | 0 | — | 2 | $558.2k | — |
| Q1 2025 | 0 | — | 7 | $7.1m | — |
| Q2 2025 | 0 | — | 1 | $191.0k | — |
| Q3 2025 | 0 | — | 3 | $1.4m | — |
| Q4 2025 | 0 | — | 2 | $1.9m | — |
| Q1 2026 | 0 | — | 1 | $200.6k | — |
| Q2 2026 | 1 | $7.6m | 5 | $3.0m | — |
| Q3 2026 | 0 | — | 4 | $1.4m | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2026-08-19 | NIELSEN III ROBERT SR VP Operations | Sold | $119.0k700 shares |
| 2026-08-18 | RIVARD PHILIP SR VP Business Development | Sold | $416.4k2.5k shares |
| 2026-08-13 | Netherton Susan SR VP People, Training & Dev | Sold | $290.5k1.8k shares |
| 2026-07-29 | NIELSEN III ROBERT SR VP Operations | Sold | $51.9k300 shares |
| 2026-07-28 | Cloninger Robert Michael SR VP, Deputy General Counsel | Sold | $480.8k2.8k shares |
| 2026-06-05 | Shea Patrick James Exec VP, General Counsel & Sec | Sold | $1.2m7.5k shares |
| 2026-06-05 | CRAFT JASON Executive Vice President & COO | Sold | $234.9k1.5k shares |
| 2026-05-14 | NIELSEN III ROBERT SR VP Operations | Sold | $77.8k500 shares |
| 2026-05-13 | NIELSEN III ROBERT SR VP Operations | Sold | $43.8k290 shares |
| 2026-05-12 | MITTELSTAEDT RONALD J President & CEO, director | Bought | $7.6m50.0k shares |
| 2026-05-12 | NIELSEN III ROBERT SR VP Operations | Sold | $51.6k337 shares |
| 2026-04-30 | HANSEN ERIC Senior Vice President and CIO | Sold | $988.9k6.0k shares |
| 2026-04-27 | LITTLE JAMES Executive VP Engineering | Sold | $427.2k2.6k 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, Q2 2026
| Manager | Shares | Change |
|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC 0.06% of their portfolio | 15.8m $2.6bn | Reduced -57.9k |
| ROYAL BANK OF CANADA 0.37% of their portfolio | 13.2m $2.2bn | Added +978.0k |
| VANGUARD PORTFOLIO MANAGEMENT LLC 0.08% of their portfolio | 11.2m $1.9bn | Added +97.7k |
| BANK OF MONTREAL /CAN/ 0.52% of their portfolio | 8.7m $1.4bn | Added +530.0k |
| 1832 Asset Management L.P. 1.52% of their portfolio | 7.5m $1.2bn | Added +343.1k |
| BlackRock, Inc. 0.02% of their portfolio | 6.4m $1.1bn | Added +179.2k |
| FMR LLC 0.04% of their portfolio | 5.3m $890.2m | Reduced -3.6m |
| MACKENZIE FINANCIAL CORP 0.02% of their portfolio | 4.7m $21.4m | Reduced -280.6k |
| Capital International Investors 0.16% of their portfolio | 4.6m $763.9m | Reduced -645.4k |
| AQR CAPITAL MANAGEMENT LLC 0.24% of their portfolio | 4.1m $684.0m | Added +3.0m |
| NORGES BANK 0.07% of their portfolio | 4.0m $659.5m | Not comparable |
| TD Asset Management Inc 0.55% of their portfolio | 3.8m $633.9m | Reduced -225.7k |
| WCM INVESTMENT MANAGEMENT, LLC 1.15% of their portfolio | 3.8m $634.1m | Reduced -81.1k |
| Invesco Ltd. 0.05% of their portfolio | 3.6m $598.0m | Added +3.2m |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.46% of their portfolio | 3.5m $589.7m | Reduced -179.9k |
| TWO SIGMA INVESTMENTS, LP 0.41% of their portfolio | 3.2m $541.1m | Reduced -198.2k |
| BANK OF AMERICA CORP /DE/ 0.03% of their portfolio | 3.1m $510.5m | Added +393.6k |
| CITADEL ADVISORS LLC 0.28% of their portfolio | 2.9m $481.9m | Reduced -223.2k |
| WELLINGTON MANAGEMENT GROUP LLP 0.08% of their portfolio | 2.9m $477.9m | Reduced -2.1m |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.04% of their portfolio | 2.6m $434.3m | Reduced -211.6k |
| Connor, Clark & Lunn Investment Management Ltd. 0.79% of their portfolio | 2.5m $414.5m | Added +815.8k |
| Fiera Capital Corp 1.50% of their portfolio | 2.5m $413.4m | Reduced -62.2k |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 2.4m $408.9m | Reduced -30.3k |
| VANGUARD FIDUCIARY TRUST CO 0.09% of their portfolio | 2.4m $405.3m | Reduced -21.8k |
| GOLDMAN SACHS GROUP INC 0.04% of their portfolio | 2.4m $403.7m | Reduced -2.3m |
| MORGAN STANLEY 0.02% of their portfolio | 2.2m $368.7m | Reduced -364.9k |
| STATE STREET CORP 0.01% of their portfolio | 2.2m $363.0m | Added +211.4k |
| NATIONAL BANK OF CANADA /FI/ 0.31% of their portfolio | 2.1m $351.3m | Added +116.3k |
| GATES FOUNDATION TRUST 0.99% of their portfolio | 2.0m $339.9m | Unchanged |
| Impax Asset Management Group plc 2.15% of their portfolio | 2.0m $329.9m | Reduced -138.4k |
| Pictet Asset Management Holding SA 0.31% of their portfolio | 1.9m $319.8m | Reduced -406.8k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.16% of their portfolio | 1.7m $284.4m | Added +96.9k |
| CIBC WORLD MARKET INC. 0.47% of their portfolio | 1.7m $278.7m | Reduced -374.3k |
| BROWN ADVISORY INC 0.39% of their portfolio | 1.5m $254.0m | Reduced -176.6k |
| Atlas FRM LLC 10.78% of their portfolio | 1.5m $251.7m | New |
| DEUTSCHE BANK AG\ 0.07% of their portfolio | 1.4m $235.1m | Added +8.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.04% of their portfolio | 1.4m $227.9m | Added +100.6k |
| MILLENNIUM MANAGEMENT LLC 0.15% of their portfolio | 1.3m $220.6m | Added +484.1k |
| Findlay Park Partners LLP 2.89% of their portfolio | 1.3m $214.3m | Added +528.5k |
| UBS Group AG 0.03% of their portfolio | 1.2m $201.7m | Added +335.6k |
| Stockbridge Partners LLC 4.07% of their portfolio | 1.2m $193.6m | Reduced -1.3m |
| Skye Global Management LP 3.72% of their portfolio | 1.1m $191.4m | Added +216.0k |
| Legal & General Group Plc 0.04% of their portfolio | 1.1m $191.1m | Reduced -95.7k |
| NEUBERGER BERMAN GROUP LLC 0.13% of their portfolio | 1.1m $187.8m | Reduced -240.3k |
| FIL Ltd 0.13% of their portfolio | 1.1m $185.8m | Added +627.6k |
| Vanguard Global Advisers, LLC 0.08% of their portfolio | 1.1m $178.7m | Added +44.6k |
| Consulta Ltd 6.31% of their portfolio | 1.1m $175.0m | New |
| T. Rowe Price Investment Management, Inc. 0.11% of their portfolio | 1.0m $167.0m | Added +757.4k |
| KING LUTHER CAPITAL MANAGEMENT CORP 0.68% of their portfolio | 997.4k $166.3m | Reduced -56.2k |
| PUBLIC EMPLOYEES RETIREMENT ASSOCIATION OF COLORADO 0.57% of their portfolio | 988.7k $164.8m | Reduced -125.5k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.07% of their portfolio | 976.5k $162.7m | Reduced -224.5k |
| MONTRUSCO BOLTON INVESTMENTS INC. 2.52% of their portfolio | 974.8k $162.5m | Reduced -847.4k |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. 0.24% of their portfolio | 958.0k $159.7m | Reduced -58.9k |
| TORONTO DOMINION BANK 0.25% of their portfolio | 893.7k $148.8m | Added +121.5k |
| SNYDER CAPITAL MANAGEMENT L P 2.49% of their portfolio | 863.7k $144.0m | Added +4.0k |
| TD Waterhouse Canada Inc. 0.37% of their portfolio | 859.4k $141.6m | Added +26.0k |
| RAYMOND JAMES FINANCIAL INC 0.04% of their portfolio | 838.6k $139.8m | Reduced -33.5k |
| NORTHERN TRUST CORP 0.02% of their portfolio | 814.0k $135.7m | Reduced -36.1k |
| Baird Financial Group, Inc. 0.19% of their portfolio | 808.0k $134.7m | Added +45.0k |
| DF DENT & CO INC 2.43% of their portfolio | 769.6k $128.3m | Reduced -89.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 768.4k $130.9m | Reduced -11.9k |
| Amundi 0.03% of their portfolio | 748.9k $124.8m | Added +156 |
| DIMENSIONAL FUND ADVISORS LP 0.02% of their portfolio | 739.8k $123.3m | Reduced -5.6k |
| Swiss National Bank 0.06% of their portfolio | 721.0k $120.2m | Reduced -30.3k |
| ALLIANCEBERNSTEIN L.P. 0.04% of their portfolio | 719.5k $116.9m | Added +706.2k |
| AGF MANAGEMENT LTD 0.46% of their portfolio | 710.8k $118.5m | Added +27.3k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.02% of their portfolio | 693.2k $115.5m | Added +37.0k |
| PRINCIPAL FINANCIAL GROUP INC 0.06% of their portfolio | 686.1k $114.4m | Reduced -802.4k |
| STOREBRAND ASSET MANAGEMENT AS 0.28% of their portfolio | 680.9k $113.5m | Added +23.2k |
| SANDS CAPITAL MANAGEMENT, LLC 0.38% of their portfolio | 609.7k $101.6m | Reduced -25.2k |
| Rathbones Group PLC 0.37% of their portfolio | 604.2k $100.7m | Reduced -673.0k |
| CIBC Bancorp USA Inc. 0.12% of their portfolio | 597.0k $99.4m | Added +399.1k |
| PICTON MAHONEY ASSET MANAGEMENT 0.87% of their portfolio | 569.0k $94.6m | Added +129.9k |
| Allianz Asset Management GmbH 0.09% of their portfolio | 559.0k $90.5m | Unchanged |
| CIBC Asset Management Inc 0.20% of their portfolio | 536.6k $90.1m | Reduced -435.5k |
| DekaBank Deutsche Girozentrale 0.15% of their portfolio | 534.8k $86.3m | Unchanged |
| Clearbridge Investments, LLC 0.07% of their portfolio | 530.4k $88.4m | Reduced -5.8k |
| D. E. Shaw & Co., Inc. 0.05% of their portfolio | 530.3k $88.4m | Reduced -238.1k |
| SILVERCREST ASSET MANAGEMENT GROUP LLC 0.56% of their portfolio | 513.2k $85.6m | Reduced -14.2k |
| NICHOLAS COMPANY, INC. 1.55% of their portfolio | 508.1k $84.7m | Reduced -95 |
| BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp 0.52% of their portfolio | 498.1k $82.9m | Reduced -151.0k |
| VANGUARD ASSET MANAGEMENT, Ltd 0.06% of their portfolio | 490.3k $81.7m | Added +46.5k |
| Nuveen, LLC 0.02% of their portfolio | 486.3k $81.1m | Added +51.0k |
| TCW GROUP INC 0.52% of their portfolio | 464.7k $77.5m | Reduced -71.9k |
| BCV Asset Management Inc. 2.31% of their portfolio | 457.0k $76.3m | Added +6.6k |
| PGGM Investments 1.86% of their portfolio | 454.3k $75.7m | Unchanged |
| Qube Research & Technologies Ltd 0.08% of their portfolio | 446.8k $74.5m | Added +68.1k |
| Point72 Asset Management, L.P. 0.11% of their portfolio | 440.6k $73.5m | Reduced -129.5k |
| Federation des caisses Desjardins du Quebec 0.22% of their portfolio | 435.0k $72.0m | Reduced -394.3k |
| National Pension Service 0.04% of their portfolio | 410.6k $68.4m | Added +31.4k |
| BARCLAYS PLC 0.02% of their portfolio | 394.4k $65.7m | Added +149.5k |
| DAVIS R M INC 1.03% of their portfolio | 390.8k $65.2m | Reduced -911 |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.06% of their portfolio | 387.1k $64.5m | Reduced -113.6k |
| SCOTIA CAPITAL INC. 0.24% of their portfolio | 386.7k $64.1m | Added +18.9k |
| Alyeska Investment Group, L.P. 0.16% of their portfolio | 377.4k $62.9m | New |
| BANK OF NOVA SCOTIA 0.09% of their portfolio | 363.8k $60.6m | Added +43.0k |
| MUFG SECURITIES (CANADA), LTD. 1.62% of their portfolio | 361.0k $60.1m | Reduced -18.2k |
| Northwest & Ethical Investments L.P. 1.37% of their portfolio | 352.8k $58.8m | Added +15.6k |
| Sunriver Management LLC 8.99% of their portfolio | 343.5k $57.3m | Added +20.8k |
| EULAV Asset Management 1.82% of their portfolio | 342.5k $57.1m | Reduced -248.3k |