# EDGAR Filing Document

**Accession Number:** 0000350698
**File Stem:** 0001104659-26-012643
**Filing Date:** 2026-2
**Character Count:** 12192
**Document Hash:** 9b63fab5a3e0952aa3afce2790599bd1
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-26-012643.hdr.sgml**: 20260210

**ACCESSION NUMBER**: 0001104659-26-012643

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260210

**DATE AS OF CHANGE**: 20260210

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** AUTONATION, INC.
- **CENTRAL INDEX KEY:** 0000350698
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-AUTO DEALERS & GASOLINE STATIONS [5500]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 731105145
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-40342
- **FILM NUMBER:** 26616310

**BUSINESS ADDRESS:**
- **STREET 1:** 200 SW 1ST AVE
- **STREET 2:** SUITE 1600
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301
- **BUSINESS PHONE:** 9547696000

**MAIL ADDRESS:**
- **STREET 1:** 200 SW 1ST AVE
- **STREET 2:** SUITE 1600
- **CITY:** FORT LAUDERDALE
- **STATE:** FL
- **ZIP:** 33301

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AUTONATION, INC. /FL
- **DATE OF NAME CHANGE:** 20090827

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AutoNation, Inc. /FL
- **DATE OF NAME CHANGE:** 20090827

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AUTONATION INC /FL
- **DATE OF NAME CHANGE:** 19990407
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** CASCADE INVESTMENT, L.L.C.
- **CENTRAL INDEX KEY:** 0001052192

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D

**BUSINESS ADDRESS:**
- **STREET 1:** 2365 CARILLON POINT
- **CITY:** KIRKLAND
- **STATE:** WA
- **ZIP:** 98033
- **BUSINESS PHONE:** 4258897900

**MAIL ADDRESS:**
- **STREET 1:** 2365 CARILLON POINT
- **CITY:** KIRKLAND
- **STATE:** WA
- **ZIP:** 98033

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CASCADE INVESTMENT LLC
- **DATE OF NAME CHANGE:** 19980102

## Exhibit 99.1

**Exhibit 1**

**JOINT FILING AGREEMENT**

We, the signatories of the statement to which this Joint Filing Agreement is attached, hereby agree that such statement is filed, and any amendments thereto filed by any or all of us, will be filed, on behalf of each of us.

---

| | | | |
|:---|:---|:---|:---|
| Date: February 10, 2026 | CASCADE INVESTMENT, L.L.C. | CASCADE INVESTMENT, L.L.C. | CASCADE INVESTMENT, L.L.C. |
|  | By | \* | \* |
|  |  | Name: | Alan Heuberger <sup>(1)</sup> |
|  |  | Title: | Attorney-in-fact for Michael Larson, Business Manager |
|  | WILLIAM H. GATES III | WILLIAM H. GATES III | WILLIAM H. GATES III |
|  | By | \* | \* |
|  |  | Name: | Alan Heuberger <sup>(2)</sup> |
|  |  | Title: | Attorney-in-fact |
|  | \*By: | /s/ Alan Heuberger | /s/ Alan Heuberger |
|  |  | Alan Heuberger | Alan Heuberger |

---

---

| | |
|:---|:---|
| <sup>(1</sup><sup>)</sup> | Duly authorized under Special Limited Power of Attorney appointing Alan Heuberger attorney-in-fact, dated October 11, 2013, by and on behalf of Michael Larson, filed as Exhibit 99.1 to Amendment No. 9 to Cascade's Schedule 13D with respect to Western Asset/Claymore Inflation-Linked Opportunities & Income Fund on December 11, 2013, SEC File No. 005-81261, and incorporated by reference herein. |
| <sup>(2</sup><sup>)</sup> | Duly authorized under Special Limited Power of Attorney appointing Alan Heuberger attorney-in-fact, dated August 12, 2008, by and on behalf of William H. Gates III, filed as Exhibit 99.2 to Amendment No. 1 to Cascade's Schedule 13D with respect to Otter Tail Corporation on April 15, 2009, SEC File No. 005-06638, and incorporated by reference herein. |

---

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**AutoNation, Inc.**

*(Name of Issuer)*

**Common stock, par value $0.01 per share**

*(Title of Class of Securities)*

**05329W102**

*(CUSIP Number)*

**Jeff Shim, Esq.**<br>2365 Carillon Point<br>Kirkland WA 98033<br>(425) 889-7900

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**02/06/2026**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **05329W102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Cascade Investment, L.L.C.** | Name of reporting person<br>**Cascade Investment, L.L.C.** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**WASHINGTON** | Citizenship or place of organization<br>**WASHINGTON** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**7062629.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**7062629.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7062629.00** | Aggregate amount beneficially owned by each reporting person<br>**7062629.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**20.1%** | Percent of class represented by amount in Row (11)<br>**20.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** All shares of the common stock, $0.01 par value per share (the "Common Stock") of AutoNation, Inc. (the "Issuer") held by Cascade Investment, L.L.C. ("Cascade") may be deemed to be beneficially owned by William H. Gates III as the sole member of Cascade.

Item 13 is based on 35,200,000 shares of Common Stock outstanding as of December 31, 2025, as reported in Exhibit 99.1 to the Issuer's Form 8-K filed on February 6, 2026.

| **CUSIP No.** | **05329W102** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**William H. Gates III** | Name of reporting person<br>**William H. Gates III** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**WC** | Source of funds (See Instructions)<br>**WC** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**7062629.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**7062629.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**7062629.00** | Aggregate amount beneficially owned by each reporting person<br>**7062629.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**20.1%** | Percent of class represented by amount in Row (11)<br>**20.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** All shares of the Common Stock of the Issuer held by Cascade may be deemed to be beneficially owned by William H. Gates III as the sole member of Cascade.

Item 13 is based on 35,200,000 shares of Common Stock outstanding as of December 31, 2025, as reported in Exhibit 99.1 to the Issuer's Form 8-K filed on February 6, 2026.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common stock, par value $0.01 per share

**(b) Name of Issuer:**
AutoNation, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
200 SW 1st Ave, Fort Lauderdale, FL, 33301

Cascade Investment, L.L.C. ("Cascade") and William H. Gates III ("WHG" and together with Cascade, the "Reporting Persons") previously reported their beneficial ownership of the common stock, $0.01 par value per share (the "Common Stock"), of AutoNation, Inc. (the "Issuer") on a Schedule 13G, filed on October 3, 2024.

This Schedule 13D is being filed pursuant to Rule 13d-1(f) of the Act to report that the Reporting Persons' beneficial ownership percentage has increased to exceed 20 percent of the Issuer's shares of Common Stock outstanding. The increase is solely due to a decrease in the number of shares of Common Stock outstanding as a result of the Issuer's share repurchase program, and not as a result of an acquisition of shares by the Reporting Persons.

**Item 4. Purpose of Transaction**

The Reporting Persons acquired the shares of Common Stock for investment purposes, from working capital.

The Reporting Persons intend to continuously review and evaluate all of their alternatives with respect to their investment in the Issuer and intend to take any and all actions that they deem appropriate with respect to the performance of their investment. This may include decreasing or increasing their ownership interest in the Issuer depending upon subsequent changes to market conditions, developments affecting the Issuer, their general investment policies, or other factors.

Except as set forth herein, the Reporting Persons have no current intention, plan, or proposal with respect to items (a) through (j) of Schedule 13D.

**Item 5. Interest in Securities of the Issuer**

**(a)**
See items 11 and 13 of the cover pages to this Schedule 13D for the aggregate number of shares of Common Stock and percentage of Common Stock beneficially owned by each of the Reporting Persons.

**(b)**
See items 7 through 10 of the cover pages to this Schedule 13D for the number of shares of Common Stock beneficially owned by each of the Reporting Persons as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, and sole or shared power to dispose or to direct the disposition.

**(c)**
None.

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

None.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Cascade Investment, L.L.C.

**Signature:** /s/ Alan Heuberger

**Name/Title:** Alan Heuberger, Attorney-in-fact for, Michael Larson, Business Manager

**Date:** 02/10/2026

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** William H. Gates III

**Signature:** /s/ Alan Heuberger

**Name/Title:** Alan Heuberger, Attorney-in-fact

**Date:** 02/10/2026