Insider Radar — Week of September 14, 2026
Reported insider buying was $358.3 million in the week of September 14 and selling was $2.83 billion, a ratio of 7.9 to 1 against a median of 13.0 over the preceding twenty-six weeks. By the ratio alone this was a mild week. The buy side does not support that reading: 76% of it is 10%-owner entity activity, another slice is stock crossing between related accounts, and purchases by actual individuals came to $38.8 million. The one genuinely new position is Berkshire Hathaway's first ever Form 4 on Lennar, filed because it had just crossed the 10% ownership threshold.
Insiders sold $2.83 billion and bought $358.3 million in the week of September 14, a ratio of 7.9 to 1 where the recent median is 13.0. The mild ratio is not executives stepping in: 76% of the buying is 10%-owner entities, and individual purchases came to $38.8 million. The week's one new position is Berkshire Hathaway's first ever Form 4 on Lennar, with $160.5 million bought in the window.
Buying was $358.3 million and individuals were 11% of it
Reported buying came to $358.3M across 325 events, and very little of it is what a reader means by insider buying. $271.0M of the total, 76%, is 10%-owner entity activity across 72 events: funds and strategic holders filing because they own more than a tenth of the stock. The officer and director flag captures $87.3M across 253 events, but even that figure contains an entity with a board seat (Apeiron Investment Group, $7.0M of ENHA at $1.15) and two of the related-party crosses described below. Actual individual open-market buying in US-dollar filings, with the crosses excluded, was $38.8M across 248 events. That is 11% of the week's buy side, and the largest single purchase by a person was $5.2M.
The week's one genuinely new position is Lennar (LEN). Berkshire Hathaway's first ever Form 4 on the company is dated September 17, and a first Form 4 means the holder has just crossed the 10% ownership threshold. In the window Berkshire bought $160.5M of Lennar: $156.6M of Class A at $76.39–$79.41 and $3.9M of Class B at $74.80–$78.38, across September 17 and September 18. It kept buying past the window, adding another $51.9M on September 21, which brings the reported total to $212.4M across 16 tranches through that date. Its other Form 4 filings on record are DaVita (DVA) at $473.7M between October 2025 and July 2026, LLYVA at $27.4M in January 2026, and IQV at $1.4M on September 2. A new name on that short list is the real event of the week.
The rest of the entity buying is continuation or mechanics. Nippon Life bought $39.7M of Corebridge Financial (CRBD) across five sessions from September 14 to September 18 at $34.86–$35.20, after $16.5M of the same name the week before: a continuing strategic stake, not a new bet. HRT Financial bought $22.8M of United States Oil Fund (USO) on September 14 and September 16 at $154.57–$160.00; USO is a commodity ETF and HRT is a market maker, so this is ETF inventory, not an insider signal about a company at all. Conifer Management added $16.9M of Group 1 Automotive (GPI) on September 17–18 at $247.17–$269.89, after buying $23.7M the week before and $48.9M the week before that. At CPI Card Group (PMTS) the buys and the biggest non-plan sale are the same event: Parallel49 Equity sold 2,687,921 shares at a flat $20.43 on September 14 ($54.9M), Tricor PMT25 Holdings bought 525,000 shares at a flat $21.50 ($11.3M), and four officers bought a further $0.7M at the same $21.50. That is a secondary offering, sponsor out at the block price and buyers in at the offer price. Thrivent Financial bought $6.0M of Ares Dynamic Credit Allocation Fund (ARDC) mandatory redeemable preferred at exactly $25.00 stated value, a financing priced at par rather than a market purchase.
Two of the larger purchases on the chart are related-party crosses: stock that moved between connected accounts at an agreed price, which makes them neither buying pressure nor selling pressure. At Fox Corp (FOX), the same accession number filed for Executive Chair and CEO Lachlan Murdoch carries a direct-form sale and an indirect-form purchase of the identical 149,934 Class A shares at $68.53 on September 15, $10.27M each way. A holding moved between his own direct and indirect accounts, and the net position change is zero. At Globalstar (GSAT), director James Monroe III bought 361,600 shares of voting common stock at $82.52 on September 18 ($29.84M) while director James F. Lynch sold the identical 361,600 shares at the identical $82.52 the same day, two separate filings describing a privately negotiated transfer between two directors. The same pattern appears at smaller size in TriplePoint Venture Growth (TPVG), where James Labe bought and Sajal Srivastava sold the same 313,865 shares at the same price on the same day, $1.48M. All three are reported on both sides of the week's totals because both filings in each pair are real, and they are named here rather than netted out.
That leaves $38.8M of buying by actual people. The largest individual buyer was KBDC director James L. Robo at $5.2M across September 14 and September 16 at $13.0170–$13.0380, followed by BORR director Tor Olav Troim at $5.0M on September 16–17 at $4.2995–$4.3795. Tom L. Ward bought $2.0M of MNR on September 14 at $11.60; his filing flags him as an officer, director and 10% holder at once. Among sitting executives, BCBP chief executive Thomas M. O'Brien bought $1.2M at $7.75 on September 18, GIII chief executive Morris Goldfarb bought $1.1M at $27.94 on September 14, and TFC president and chief executive Michael P. Lyons bought $1.0M at $48.3608 on September 17. CRM director David Blair Kirk bought $1.0M at $239.3321 on September 18.
| Ticker | Buyer | Role | Value | Price | Date |
|---|---|---|---|---|---|
| LEN | Berkshire Hathaway Inc | 10% holder, Class A | $156.6M | $76.39–$79.41 | Sep 17–18 |
| CRBD | Nippon Life Insurance Co | 10% holder | $39.7M | $34.86–$35.20 | Sep 14–18 |
| GSAT | James Monroe III | Director (related-party cross) | $29.8M | $82.52 | Sep 18 |
| USO | HRT Financial LP | 10% holder (ETF market maker) | $22.8M | $154.57–$160.00 | Sep 14–16 |
| GPI | Conifer Management, L.L.C. | 10% holder | $16.9M | $247.17–$269.89 | Sep 17–18 |
| PMTS | Tricor PMT25 Holdings and four officers | 10% holder and officers | $12.0M | $21.50 | Sep 14 |
| FOX | Lachlan Murdoch | Executive Chair and CEO (direct to indirect) | $10.3M | $68.53 | Sep 15 |
| ENHA | Apeiron Investment Group Ltd. | Director and 10% holder | $7.0M | $1.15 | Sep 17 |
| ARDC | Thrivent Financial for Lutherans | 10% holder (preferred at stated value) | $6.0M | $25.00 | Sep 14 |
| KBDC | James L. Robo | Director | $5.2M | $13.0170–$13.0380 | Sep 14, Sep 16 |
| BORR | Tor Olav Troim | Director | $5.0M | $4.2995–$4.3795 | Sep 16–17 |
| LEN | Berkshire Hathaway Inc | 10% holder, Class B | $3.9M | $74.80–$78.38 | Sep 17–18 |
| MNR | Tom L. Ward | Officer, director and 10% holder | $2.0M | $11.60 | Sep 14 |
| SBLK | Raffaele Zagari | Director | $1.4M | $28.27 | Sep 15 |
| ADC | John Rakolta Jr | Director | $1.4M | $68.78 | Sep 16 |
| BCBP | Thomas M. O'Brien | Chief Executive Officer | $1.2M | $7.75 | Sep 18 |
| GIII | Morris Goldfarb | CEO | $1.1M | $27.94 | Sep 14 |
| TFC | Michael P. Lyons | President and CEO | $1.0M | $48.3608 | Sep 17 |
| CRM | David Blair Kirk | Director | $1.0M | $239.3321 | Sep 18 |
The selling was sponsors distributing, and the biggest sale of the week was not scheduled
Insiders and large holders sold $2.83B across 974 events. Against $358.3M of buying that is 7.9 to 1, below the 13.0 median of the twenty-six preceding weeks. The middle half of those weeks sat between 5.0 and 24.1 and the full range runs from 0.9 to 42.2, so 7.9 reads as milder than normal, not as a selling wave. What holds the ratio down, though, is the entity buying described above, not executives reaching for their own stock.
The single largest sale of the week was not on a plan. NVIDIA (NVDA) led the sell side at $307.8M, almost all of it one filing: director Mark A. Stevens sold 1,366,000 shares for $300.1M on September 18 at $219.72 and $220.42, not under a 10b5-1 plan. CFO Colette Kress sold $7.6M on September 17 under a plan.
Below NVIDIA the top of the sell side is sponsors distributing. Dell (DELL) recorded $278.7M across 27 events from September 14 to September 17 at $530.67–$591.24, none of it under a plan. Five Silver Lake vehicles account for $262.4M of that: Silver Lake Partners IV sold $112.9M, SL SPV-2 sold $93.0M, Silver Lake Partners V DE (AIV) sold $53.4M, and two smaller vehicles made up the rest. Two Dell officers sold $16.3M alongside, general counsel David Alan Kennedy at $14.0M and Richard J. Rothberg at $2.3M. Silver Lake sold $254.0M of Dell the week before and has been distributing the position since June. Uber Technologies sold 29,346,608 Class A shares of Aurora Innovation (AUR) in one block at a flat $6.21 on September 15, $182.2M, a corporate holder exiting rather than management selling. Platinum Equity sold one block of Ingram Micro (INGM) at a flat $27.19 on September 15, $53.5M, after selling $356.8M of it the week before. Chime Financial (CHYM) saw $127.4M across 5 events on September 14–16 at $31.46–$34.41, with DST Global Advisors selling $109.3M of it.
Scheduled 10b5-1 plans accounted for $1,156.0M, 41% of the selling; the other $1,678.3M was unscheduled. Sandisk (SNDK) was the largest all-plan name at $106.5M across 3 events, with chairman and CEO David Goeckeler selling $53.3M on September 17 at $1,587.00 and $51.7M on September 14 at $1,541.88. Snowflake (SNOW) sold $75.1M, 94% under plans, most of it Frank Slootman at $65.9M on September 18 at $338.61. Travere Therapeutics (TVTX) sold $65.0M across 12 events, all under plans, at $61.99–$65.31. Andreas Bechtolsheim sold $59.7M of Arista Networks (ANET) in one planned event on September 17, and Twist Bioscience (TWST) chief executive Emily M. Leproust sold $56.3M the same day, also under a plan. CrowdStrike (CRWD) sold $59.9M across 8 events, 68% under plans. Seagate (STX) sits between the buckets: $170.7M across 8 events on September 14–15 at $771.38–$800.47, only 25% of it under plans, with chief executive William D. Mosley selling $75.6M outside any plan and chief commercial officer Teh Ban Seng selling $41.2M under one.
Some of these prices look implausible and are real. Filed prices were checked against the same ticker's filing history over the preceding four months: Sandisk has been filing around $1,500, Seagate around $800, and Dell's filings climbed from about $405 in June to about $540 in September. USO around $157 and GSAT around $82 hold up the same way. The one exception the check cannot catch mechanically is United Microelectronics (UMC), whose filings are priced in New Taiwan dollars, and that is exactly why it sits behind the currency screen described in the methodology.
| Ticker | Seller | Role | Value | Type | Date |
|---|---|---|---|---|---|
| NVDA | Mark A. Stevens | Director | $300.1M | Open market, no plan | Sep 18 |
| DELL | Silver Lake (five vehicles) | 10% holder | $262.4M | Open market, no plan | Sep 14–17 |
| AUR | Uber Technologies, Inc | 10% holder | $182.2M | Block at $6.21 | Sep 15 |
| CHYM | DST Global Advisors Ltd | 10% holder | $109.3M | Open market, no plan | Sep 14 |
| STX | William D. Mosley | Chief Executive Officer | $75.6M | Open market, no plan | Sep 15 |
| SNOW | Frank Slootman | Director | $65.9M | 10b5-1 | Sep 18 |
| ANET | Andreas Bechtolsheim | 10% holder | $59.7M | 10b5-1 | Sep 17 |
| TWST | Emily M. Leproust | Chief Executive Officer | $56.3M | 10b5-1 | Sep 17 |
| PMTS | Parallel49 Equity, ULC | 10% holder | $54.9M | Block at $20.43 | Sep 14 |
| INGM | Platinum Equity, LLC | 10% holder | $53.5M | Block at $27.19 | Sep 15 |
| SNDK | David Goeckeler | Chairman and CEO | $53.3M | 10b5-1 at $1,587.00 | Sep 17 |
| SNDK | David Goeckeler | Chairman and CEO | $51.7M | 10b5-1 at $1,541.88 | Sep 14 |
| STX | Teh Ban Seng | EVP and Chief Commercial Officer | $41.2M | 10b5-1 | Sep 15 |
| DELL | David Alan Kennedy | General Counsel and Secretary | $14.0M | Open market, no plan | Sep 17 |
| NVDA | Colette Kress | EVP and Chief Financial Officer | $7.6M | 10b5-1 | Sep 17 |
Methodology
Source data is public SEC Form 4 filings collected by AlphAI, covering transactions dated September 14 through September 20, 2026, 1,103 filings across 605 distinct tickers. Transactions are grouped into events by ticker, filing, ownership form, transaction code and date, so a sale executed in many tranches under one filing counts once rather than inflating the count. Purchases are P-code transactions, disposals are S and D codes. Event groups summing above $1 billion are excluded, because at that size the row is almost always a merger, tender or reorganisation rather than a discretionary trade; this week the cap removed exactly one block, $1.86 billion of Diamondback Energy (FANG) sales, which was also co-filed twice. Where several related filers report the same block, only one copy is counted: filings are collapsed when the ticker, date, transaction code, security title, share count and value all match, keeping the direct filer's copy where there is one. That correction removed $122.4 million of sales and $4.7 million of buys, the largest single case being $109.3 million of Chime Financial (CHYM). Three issuers file in local currency while the data records US dollars, and they are excluded from both sides: United Microelectronics (UMC) with $228.8 million of sales filed at NT$142.33 and NT$145.00, a repeat of a July case involving the same CFO, Liu Chitung; Banco Bradesco (BBD) with $24.7 million of buys in BBDC4 preference shares at R$17.98; and AXIA Energia (AXIAY) with $5.4 million of buys at R$10.48–R$10.50. The sell to buy ratio is 7.9 to 1 with or without that screen, so it changes the dollar totals and nothing else. Where a purchase and a sale of the same shares at the same price appear between related holders, both sides are reported and named rather than netted out: this week that is the Fox Corp transfer between Lachlan Murdoch's own direct and indirect accounts, the Globalstar transfer between directors James Monroe III and James F. Lynch, and the TriplePoint Venture Growth cross between James Labe and Sajal Srivastava. Activity filed under 10b5-1 plans is split out, because those trades are scheduled months ahead and say nothing about what a seller thinks now. Roles come from the officer, director and 10 percent holder flags on the filing itself, and titles are used only where the filing supplies one, which is why one buyer this week carries the title 'See Remarks'. Unusual-looking prices were checked against the same ticker's filing history over the preceding four months and are real rather than decimal errors, including Sandisk around $1,500 and Seagate around $800. The recent median sell to buy ratio covers the twenty-six preceding weeks that each had more than $10 million of reported buying, and those weeks ranged from 0.9 to 42.2, so a single week's ratio should be read against that spread rather than on its own. Filing coverage matured over the first half of 2026, so week to week comparisons are more reliable than comparisons with the spring. This is a readout of public filings and not investment advice.
Sources: SEC EDGAR Form 4 filings
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