Insiders Split at NGL as Gates Loads Up on Republic Services

A cluster of insider filings from late August stands out this earnings season. At NGL Energy Partners, director John Thomas Raymond filed purchases of roughly $5.1M on 25 August, snapping up 300,000 units at around $16.98. On the same day, founder and CEO H. Michael Krimbill sold an identical 300,000 units for $5.1M. The mirror-image trades make NGL one of the more unusual filings of the period: a major shareholder betting in while the founder cashes out at the same price.

Bill Gates continued buying RSG Republic Services in size. Three separate filings reported between 26 and 28 August show purchases totalling more than $146M across consecutive sessions. Gates holds the stock as a long-term conviction position, and the cluster of buys signals no let-up in that stance.

On the sell side, FIX Comfort Systems USA CEO Brian Lane filed a $25.8M sale on 27 August. LLOY Lloyds Banking Group CFO William Chalmers sold £12.8M equivalent on 28 August. THC Tenet Healthcare COO Lisa Foo filed a $6.4M sale on 1 September.

Note: the EDGAR Form 4 tables were unavailable in this environment, so US open-market trade codes and 10b5-1 plan flags could not be verified directly. The figures above come from ORTEX's vendor insider dataset and should be treated with that caveat.