State Street reports 13.03% Cleanaway interest in November filing

By Grace Kim

State Street Corporation and its subsidiaries hold 13.03% of Cleanaway Waste Management Limited (ASX:CWY), covering 292,191,544 ordinary shares as of 2 November 2026.

The position grew from the 11.60% interest recorded in a notice dated 30 October 2026, when State Street and its subsidiaries reported 260,073,225 ordinary shares. State Street submitted that prior notice to Cleanaway on 3 November 2026, one day after the change in interests took effect.

The filing and its scope

The change was lodged with Cleanaway through Form 604 under section 671B of the Corporations Act 2001. The form identifies a substantial holder, the size of its 'relevant interest' and the entities through which that interest is held. Cleanaway's Australian company number, 101 155 220, appears on the filing.

The Form 604 concerns ownership and voting power in the Australian waste-management company, not waste collection volumes, processing capacity or commodity prices. It does not announce an acquisition, disposal or new facility linked to the higher stake. No operating commitments accompany the disclosure.

How State Street structures the interest

State Street's 13.03% interest does not appear as a single holding under one entity. The filing distributes the relevant interests across five named State Street companies:

• State Street Bank and Trust Company
• State Street Global Advisors Asia Limited
• State Street Global Advisors Europe Limited
• State Street Global Advisors Trust Company
• SSGA Funds Management, Inc.

State Street Bank and Trust Company holds interests through several lending and security arrangements. The filing describes the company as 'holder of lent securities' under section 608(8A), 'holder of borrowed securities' under section 608(1), and holder of collateral and memo pledge securities under sections 608(8A) and 608(8).

Three State Street Global Advisors entities and SSGA Funds Management, Inc. appear as investment managers or trustees with authority to control voting rights and the disposal of securities. The disclosure therefore concerns interests held through several institutional channels, rather than naming one State Street entity as the sole holder.

Registered holders behind the notice

The form names a broad set of registered holders and associated parties connected to the disclosed relevant interests. They include:

• Citibank NA, Bank of New York Mellon, Northern Trust Company, JPMorgan AG, The Societe Generale Group and NATIXIS
• Bank of Montreal Group, Managed Pension Funds Limited and VanEck ETF Funds
• SSGA SPDR ETFs Europe I PLC and SSGA SPDR ETFs Europe II PLC
• AQR Flex 1 Series LLC Series A6 and AQR Flex 1 Series LLC Series K10

The filing also refers to other holders detailed in its annexures.

What does this change for Cleanaway?

For shareholders, the relevant distinction sits in the form of the interest. The Form 604 presents 13.03% voting power through lending, borrowing, collateral, trustee and investment-management arrangements. Its 292,191,544 shares sit across multiple entities and securities channels, according to the filing.

The report provides no purchase price, trading rationale or intended holding period for the position. It contains no explanation from State Street or Cleanaway for the increase and does not announce any strategic review. The filing also establishes no new voting commitment or agreed influence over the waste-management company's operations.

For Cleanaway's waste operations, the notice changes the disclosed ownership position but supplies no operating commitment. It sets no targets for waste collection, recovery or diversion, and identifies no contract, permit or plant expansion associated with State Street's larger interest.

Until another substantial-shareholder notice arrives, the filing establishes the size and structure of the disclosed interest. The next Form 604 lodged with Cleanaway under section 671B will show whether the 13.03% position persists, expands or contracts.