Insider Radar — Week of September 21, 2026
Reported insider buying was $381.2 million in the week of September 21 and selling was $2.06 billion, a ratio of 5.4 to 1 against a median of 11.7 over the preceding twenty-six weeks. Almost half of the buying is one holder: Berkshire Hathaway added $188.2 million of Lennar in its second week of Form 4 filings on the company. Purchases by officers and directors came to $79.7 million, led by the chief executives of Grab and GameStop. It was also a light week, with 558 filings against 904 to 1,296 in each of the three before it.
Insiders sold $2.06 billion and bought $381.2 million in the week of September 21, a ratio of 5.4 to 1 against a recent median of 11.7. Berkshire Hathaway supplied almost half the buying with $188.2 million of Lennar. The executive purchases to note are Grab's chief executive at $29.9 million, after months of monthly sales, and GameStop's Ryan Cohen at $26.4 million.
Berkshire kept buying Lennar, and two chief executives bought size
Reported buying came to $381.2M across 209 events. $277.1M of it, 73%, is 10%-owner entities buying in the open market: funds and strategic holders that file because they own more than a tenth of the stock. Officers and directors bought $79.7M across 145 open-market events, 21% of the total, and two purchases account for most of that figure.
Lennar (LEN) is the largest line for the second week running. Berkshire Hathaway bought on four sessions from September 21 to September 25: $184.8M of Class A at $77.23–$81.65 and $3.4M of Class B at $75.76–$79.99, $188.2M in all. Its first Form 4 on the company, covered in last week's issue, reported $160.5M bought on September 17 and 18, so the reported total since it crossed the 10% threshold is $348.8M. The filings are made in the indirect form, through Berkshire subsidiaries. Nippon Life added $40.1M of Corebridge Financial (CRBD) across five sessions at $33.85–$35.08, its third straight week after $16.5M and $39.7M. Conifer Management bought $31.5M of Group 1 Automotive (GPI) on September 24 and 25 at $247.26–$253.85, a fourth consecutive week of additions. Durable Capital Partners bought $7.1M of Goosehead Insurance (GSHD) at $47.32 and Pale Fire Capital bought $6.7M of Coursera (COUR) at $5.0639. These are position builds by large holders, which is a different signal from a manager buying their own company's stock.
Grab Holdings (GRAB) is the clearest reversal of the week. Chief executive Anthony Tan bought 10,350,000 Class A shares at $2.8866 on September 21, $29.9M, and president and COO Alexander Hungate bought $0.9M at $2.8936 the same day. Tan's earlier filings in our data are sales of 400,000 shares a month: June 15 at $3.51, July 10 at $3.91 and August 10 at $3.62. Hungate had sold $0.5M at $3.48 on September 2. Both bought below the prices at which they had been selling.
At GameStop (GME), president, CEO and chairman Ryan Cohen bought 1,150,680 shares at $22.9375 on September 21, $26.4M, after $20.4M at $20.3759 on September 10, and director Alain Attal bought $0.4M the same day. Cohen filed a further $10.6M of purchases dated September 29, after this window closed. Nayax (NYAX) chief executive Yair Nechmad bought $4.6M at $44.0884 on September 24, and chief technology officer David Ben-Avi added $0.1M across three days. Below that, individual purchases were small: KBDC director James L. Robo bought $2.9M across three days at $13.0460–$13.1350, Pampa Energy (PAM) vice president Gustavo Mariani bought $2.0M of ADSs at $78.26, Howard Hughes (HHH) executive chairman Marc Grandisson bought $1.6M at $64.1175, and Dick's Sporting Goods (DKS) chief financial officer Navdeep Gupta bought $1.0M at $129.75.
Two purchases are not conviction and are named so they are not read that way. OrbiMed Advisors bought $20.0M of Electra Therapeutics (ETRA) at $15.00 in a public offering, reported jointly with Carl L. Gordon and counted once here. John C. Malone's $2.9M of Liberty Live Series B (LLYVA) at $102.53 is one leg of an exchange: the same filing reports a sale of $2.9M of Series C at $98.16.
| Ticker | Buyer | Role | Value | Price | Date |
|---|---|---|---|---|---|
| LEN | Berkshire Hathaway Inc | 10% holder, Class A | $184.8M | $77.23–$81.65 | Sep 21–25 |
| CRBD | Nippon Life Insurance Co | 10% holder | $40.1M | $33.85–$35.08 | Sep 21–25 |
| GPI | Conifer Management, L.L.C. | 10% holder | $31.5M | $247.26–$253.85 | Sep 24–25 |
| GRAB | Anthony Tan | Chief Executive Officer | $29.9M | $2.8866 | Sep 21 |
| GME | Ryan Cohen | President, CEO and Chairman | $26.4M | $22.9375 | Sep 21 |
| ETRA | OrbiMed Advisors LLC | Director and 10% holder (public offering) | $20.0M | $15.00 | Sep 21 |
| GSHD | Durable Capital Partners LP | 10% holder | $7.1M | $47.32 | Sep 22 |
| COUR | Pale Fire Capital SE | 10% holder | $6.7M | $5.0639 | Sep 25 |
| NYAX | Yair Nechmad | CEO, Co-Founder and Chairman | $4.6M | $44.0884 | Sep 24 |
| LEN | Berkshire Hathaway Inc | 10% holder, Class B | $3.4M | $75.76–$79.99 | Sep 21–25 |
| LLYVA | John C. Malone | 10% holder (Series B leg of an exchange) | $2.9M | $102.53 | Sep 24 |
| KBDC | James L. Robo | Director | $2.9M | $13.0460–$13.1350 | Sep 22–24 |
| PAM | Gustavo Mariani | Vice President (ADSs) | $2.0M | $78.26 | Sep 25 |
| HHH | Marc Grandisson | Executive Chairman, Vantage | $1.6M | $64.1175 | Sep 23 |
| DKS | Navdeep Gupta | EVP and Chief Financial Officer | $1.0M | $129.75 | Sep 22 |
| GRAB | Alexander Hungate | President and COO | $0.9M | $2.8936 | Sep 21 |
The selling was mostly scheduled, and the unscheduled part came from founders and sponsors
Insiders and large holders sold $2.06B across 467 events. Against $381.2M of buying that is 5.4 to 1, below the 11.7 median of the twenty-six preceding weeks. The middle half of those weeks sat between 5.0 and 22.4 and the full range runs from 0.9 to 42.2, so this week sits near the low end of normal. Both sides were lighter than usual: 558 filings, against 1,133, 904 and 1,296 in the three prior weeks, which is consistent with quarter-end trading blackouts.
Of the selling, $1,199.5M, 58%, was under 10b5-1 plans. Another $286.8M was D-code disposals back to issuers, and $285.0M of that is a single filing: Mitsubishi UFJ Financial Group disposed of 1,340,519 Morgan Stanley (MS) shares to the company at $212.5674 on September 22, flagged as a 10b5-1 transaction, and still holds 375,330,252 shares afterwards. It made a similar $88.4M disposal on July 30. That is a holding being trimmed back to the issuer, not a view on the stock. The remaining $575.3M was open-market selling outside any plan.
The largest planned sale was Broadcom (AVGO) director Henry Samueli at $250.0M on September 23, at $354.71–$361.79. CrowdStrike (CRWD) sold $177.3M across 11 events, 88% under plans: chief financial officer Burt W. Podbere sold $125.5M on September 24 under a plan at $259.35–$263.51 plus $8.1M on September 21 outside one, and chief executive George Kurtz sold $30.5M under a plan. GitLab (GTLB) director Sytse Sijbrandij sold $81.4M, Robinhood (HOOD) chief executive Vladimir Tenev $62.7M, and SpaceX (SPCX) president Gwynne Shotwell $52.5M, all under plans.
The unscheduled selling is concentrated in a few names. Kanzhun (BZ) chief executive Jonathan Zhao Peng sold 15,170,000 shares at a flat $7.2484 on September 21, $110.0M, not under a plan, after smaller sales of $3.1M and $3.0M on September 10 and 11 at $8.18 and $8.28. KE Holdings (BEKE) chief executive Peng Yongdong sold 16,033,983 shares at a flat $5.2733 on September 25, $84.6M, and executive director Shan Yigang sold $18.1M at $5.4393 on September 21, both outside plans. Medpace (MEDP) president and CEO August J. Troendle sold $71.9M across five sessions at $620.60–$628.64, also outside a plan. The two largest sponsor exits were blocks: TCO Group Holdings sold 10,000,000 InnovAge (INNV) shares at $9.25 on September 24, $92.5M, reported jointly with Ignite Aggregator and counted once, and Wood River Capital sold 12,280,426 Aspen Aerogels (ASPN) shares at $4.73 on September 23, $58.1M, leaving it with no shares.
| Ticker | Seller | Role | Value | Type | Date |
|---|---|---|---|---|---|
| MS | Mitsubishi UFJ Financial Group | 10% holder | $285.0M | D-code disposal to issuer | Sep 22 |
| AVGO | Henry Samueli | Director | $250.0M | 10b5-1 | Sep 23 |
| CRWD | Burt W. Podbere | Chief Financial Officer | $125.5M | 10b5-1 | Sep 24 |
| BZ | Jonathan Zhao Peng | Chief Executive Officer | $110.0M | Open market, no plan | Sep 21 |
| INNV | TCO Group Holdings, L.P. | 10% holder | $92.5M | Block at $9.25 | Sep 24 |
| BEKE | Peng Yongdong | Chief Executive Officer | $84.6M | Open market, no plan | Sep 25 |
| GTLB | Sytse Sijbrandij | Director | $81.4M | 10b5-1 | Sep 24–25 |
| MEDP | August J. Troendle | President and CEO | $71.9M | Open market, no plan | Sep 21–25 |
| HOOD | Vladimir Tenev | Chief Executive Officer | $62.7M | 10b5-1 | Sep 21–22 |
| ASPN | Wood River Capital, LLC | Reporting holder | $58.1M | Block at $4.73, full exit | Sep 23 |
| SPCX | Gwynne Shotwell | President and COO | $52.5M | 10b5-1 | Sep 22 |
| CRWD | George Kurtz | President and CEO | $30.5M | 10b5-1 | Sep 21–25 |
| BEKE | Shan Yigang | Executive Director | $18.1M | Open market, no plan | Sep 21 |
Methodology
Source data is public SEC Form 4 filings collected by AlphAI, covering transactions dated September 21 through September 27, 2026: 558 filings with a reported value, across 363 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 nothing. 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 $95.7 million of sales and $20.0 million of buys across nine groups, the largest being the $92.5 million InnovAge (INNV) block reported by both TCO Group Holdings and Ignite Aggregator, and the $20.0 million Electra Therapeutics (ETRA) offering purchase reported by both OrbiMed Advisors and Carl L. Gordon. Three issuers file in local currency while the data records US dollars, and they are excluded from both sides: Cemex (CX) with $6.9 million of buys in participation certificates at MXN 17.28, United Microelectronics (UMC) with $1.6 million of sales at NT$163.00, and AXIA Energia (AXIAY) with $1.0 million of buys at R$10.55. With them included the ratio would read 5.3 to 1 rather than 5.4. 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. D-code disposals back to an issuer are reported separately from open-market selling. 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; Wood River Capital's filing carries no role flag, so it is described as a reporting holder. 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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