u/Apibeary

Borr Drilling reported Q2 on Aug 11: EPS -$0.79 vs -$0.12 expected.

An absolute dumpster fire of a miss, the reacted by sliding towards 4$.

Two days later, the man who founded the company started buying in.

From Tor Olav Trøim's Form 4s (all through Drew Holdings, his trust; every 10b5-1 box unchecked):

date	bought	price	context
Jun 9th	1,063,000 shares, @ $5.0M	$4.70	first leg, beginning of the summer slide
Aug 13th	1,500,000 shares, @ $6.0M	$4.02	two days after the Q2 miss
Aug 14th	500,000 shares, @ $2.2M	$4.39	the next day, paying up ~9% more than the day previous

13.2M in ten weeks; his trust now holds ~29.2M shares.

Trøim founded Borr in 2016 and spent decades before that as John Fredriksen's right hand. Offshore drilling is the family business, and this is him buying the drawdown in his own creation.

He wasn't alone.
Same day as the big one (Aug 13), director Jeffrey Currie bought 125,000 shares at $4.01 for $502K, a +35% add to his stake. AND back in June the CEO and another director exercised options for cash rather than letting them lapse. So: founder $13.2M, directors and management around him, no scheduled plans anywhere.

Trøim's trust already held ~27M shares before June, so $13.2M is a ~8% add to a very large position. A founder defending his life's work, which is conviction of a particular kind.

Offshore drilling is a brutal cyclical and the miss was real. And a caution for anyone scanning the tape: a June filing shows a director's fund "selling" $37.6M, read the footnote, it's a contract-for-difference position, a derivative, not a share sale. Don't count it either way without knowing that.

Sources: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001715497&type=4&dateb=&owner=include&count=40 (the filings)

Information, not advice. I build tooling in this space. No position in BORR.

On August 11th, Lip-Bu Tan did something bold.
While everyone was debating whether the AI boom is over, Intel's CEO bought 105,263 shares at $95.00 = $9,999,985 through his family trust.

Tan bought these 105,263 shares in Intel's own ~$23B common-stock offering (~4.8% dilution), at the $95.00 public offering price, the prospectus supplement disclosed he and a family member would take $12M in the deal

He now holds ~1.31 million shares.

This is the fourth rung of a ladder of insider buying. From his own Form 4s: ~$2.9M at $27–29 as a director in Nov 2022 (when the stock was left for dead), ~$2.5M at $38 as a director in Nov 2023, and now $10M at $95 as the CEO. ~$15.4M lifetime, every rung bought higher than the last, the biggest cheque at the highest price.

The timing of the entry was right after INTC's biggest beat of his tenure.
Q2 at $0.42 vs $0.19 expected. And as it's receding from the top, INTC hit $142 on June 30th.

Countercase? $10M is roughly 7–8% of his existing Intel stake (~$128M), a real add but, far from a life-changing cheque for the founder of Walden International. And a CEO buying his own turnaround is the most on-message purchase a filing can show; it could be read as encouraging the market to hold the price up.

Though he was also buying at $27 as a director, when there was no market to encourage.

Filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001008463&type=4&dateb=&owner=include&count=40

Information, not advice. I build tooling in this space. No position in INTC.

(edit: corrected 'open-market' to 'buying in the offering', apologies)

Pfizer is way off it's Covid-era highs, it's 52-week low was $23.58 last September, and it now sits around 26$.

Directors bought the day after their Q2 Earnings beat was reported.

date	insider	bought	details
Aug 5	Ronald Blaylock, Director	$999K (39,231 @ $25.46)	stake 27,707 -> 66,938. A +142% add
Aug 5	Mortimer Buckley, Director	$960K (37,632 @ $25.52)	Buys his first PFE shares
Aug 12	Albert Bourla, Chairman and CEO	$1.00M (38,000 @ $26.34)	+9.7% to his 429K-share direct stake AND it's the only open-market purchase he's ever filed

The same tape shows an SVP-Controller selling $83K on Aug 5. Small, but it's there and you should know it.
And the buys are small fractions of these people's wealth, the signal is the coordination and the open-marketness, not the dollar pain.

A 153 Billion dollar company at $26 and change, 52-week range $23.58–$28.75, paying a $1.72/year dividend that yields ~6.5% at these prices.

A yield that high is the market saying it doubts the future (the patent cliff on big products later this decade is the standing bear case). Three insiders, including the man who ran the world's largest index-fund company, just paid ~$1M each to take the other side of that doubt.

Sources: Bourla Form 4 · all PFE insider filings (the Aug 5/6/12 filings are the cluster)

Information, not advice. I build tooling in this space.
No direct position in PFE; I hold a healthcare fund.

Form 4 filed Aug 11:

Artie Starrs bought 10,000 shares at $25.89 on Aug 10 for $259K, open market, a discretionary decision rather than a scheduled plan.

It takes his direct holding from 15,000 to 25,000 shares.

Context

HOG is up ~50% off its March low and the buy came two and a half weeks after a Q2 beat (0.75 vs 0.62).

But, it's also a stock at 0.87× book that's spent two years in the penalty box, and the CEO choosing to put a quarter-million of his own cash in at $26 is a different statement than holding grants.

Filing: https://www.sec.gov/Archives/edgar/data/793952/000173210526000006/0001732105-26-000006-index.htm

Information, not advice. I build tooling in this space. No position in HOG.

The June headline made the rounds here when it happened.
Malone buying $5.45M of LILA at $4.98.
It turns out that was one tranche of one filing.

Pull all three of his Form 4s and the security filings around them and the picture is a lot bigger: about $34.2M across nine trading days, a fresh filing this week showing him still paying up at the 52-week high, and two-thirds of the money going into an instrument most coverage hasn't mentioned at all. Links at the bottom.

The buyer is 85, files under the title "Director Emeritus" and is the most famous capital allocator in cable.

First, the instrument.
In May, LILA registered a new security; on June 16 every shareholder received it as a special dividend: 9.0% Fixed Rate Cumulative Perpetual Series A Preference Shares, Nasdaq-listed, $25 liquidation price. The coupon is $2.25/year, and it's cumulative, unpaid dividends get added to the liquidation price. First payment date is September 15. At the ~$20.40 the preferreds trade at, that's roughly an 11% yield if declared.

Then, the buying. Within days of the distribution:

date	insider	bought
Jun 18	Balan Nair (CEO)	$1.0M (Class C + preferreds)
Jun 18	Brendan Paddick (Director)	$488K (Class A @ $4.88)
Jun 22–26	John Malone (Director Emeritus)	$31.3M — $11.4M Class A/C common at $4.98 up to $7.00, plus $19.9M of the preferreds at ~$19.89–20.63
Jun 23–24	Charles Bracken (Director)	$201K (preferreds)
Jun 25	Michael Fries (Exec Chairman)	$1.0M (preferreds @ $20.39)
Aug 7+10	John Malone again	$2.9M — $1.08M Class A at ~$8.47–8.50 + $1.82M preferreds

Total for Malone: about $34.2M across nine trading days, split roughly $12.5M common / $21.7M preferred.

The price path, honestly. The stock went from $4.88 on June 18 to $8.57 now. +84% off its January low, and a chunk of that move happened WHILE he was buying. His $27.9M filing hit EDGAR on June 24; the tape you see partly IS the market reacting to it. So this isn't a bottom-fishing story: his August adds came at the 52-week high, ~70% above his first June prints. He kept paying up.

Q2 (Aug 5) missed on EPS, −0.13 vs −0.09 expected, and the stock rose 3.8% to the 52-week high the next day anyway. The boring explanation: LILA's EPS line is noisy with FX and derivative swings. The market read the operating stuff, OIBDA back to growth, adjusted free cash flow up $160M+ YoY in the first half, 45K net adds, $60M of buybacks this year, and a 10-year Amdocs outsourcing deal announced the same day.

The August common was a brand-new 127,828-share position in a charitable remainder unitrust, so estate planning is part of any honest read on an 85-year-old's buying, alongside whatever conviction is in it. The split tells you something though: two-thirds of the money chose the 9% cumulative paper over the equity.

LILA doesn't file its insider-trading policy as a 10-K exhibit, so I can't verify what window these buys sat in.

Information, not advice. I run Apibeary, which builds tooling in this space. No position in LILA or LILAK.

The backstory, from his own June filing: an outside investment manager with discretion over Michael Maroone's family trust traded FIVE shares of Carvana. He bought 5 in January, sold 3 in February, 2 in March, without his knowledge, per the filing.
He says he discovered it June 1, reported it promptly, and put controls in place with the manager.

Why that matters: Section 16(b) is strict liability. If an insider buys and sells within six months, any "profit" from matching those trades goes back to the company. Intent is irrelevant. Five shares traded by someone else still count.

So when Maroone, the Carvana board member, former AutoNation president, car-retail royalty, wanted to buy real size on July 31, those five shares got matched against it. The August filing, deadpan: "Prior to filing, the Reporting Person paid Carvana Co. the full $64.87 in disgorgeable profits; no further disgorgement is owed."

He paid $64.87. In full. To buy $1.5M of stock.

The trade itself, which is the actual point:

• 31 Jul, 25,000 shares at a $61.69–$62.40 weighted average, $1,544,981, code P, open market
• Direct holding 143,573 -> 168,573, a +17.4% add
• Bought the day after Q2 earnings (29 Jul: EPS 0.42 vs 0.43 est, a slight miss) knocked the stock down 7%

For contrast, that same week most of Carvana's C-suite had RSUs vest, and several sold through 10b5-1 plans. Nothing wrong with that, those sales are pre-scheduled, but it makes one director writing a seven-figure cheque with cash, into the dip, the only discretionary buy on the tape. Carvana doesn't publish its insider trading policy as an exhibit, so I can't tell you whether July 31 was the first day he was allowed to buy or just the day he chose.

Since the buy: $62.36 has gone to $74.16 as of Friday's close, so about +19% in six trading days. That's luck-of-the-window and I'm not claiming otherwise, but it's on the tape.

Everything above is from the filings themselves. Both Form 4s are on EDGAR under Carvana's CIK, footnotes included. Pull them; the June one is genuinely funny.

Information, not advice. I run Apibeary, which builds tooling in this space. No position in CVNA.

Hi, I wanted to post some insider buying I can't explain. Not a recommendation.

American Bitcoin Corp is a bitcoin miner and treasury company linked to the Trump family. Eric Trump is a co-founder and Chief Strategy Officer. It came public via a merger with Gryphon Digital Mining and debuted at roughly $5B.

Friday's close: $6.47. Market cap about $498M.

Three straight misses against a consensus that never moves.

| reported | quarter | estimate | actual |

| 2025-11-14 | Q3 25 | — | +0.06 |

| 2026-02-26 | Q4 25 | +0.15 | −1.05 |

| 2026-05-06 | Q1 26 | +0.15 | −1.20 |

| 2026-08-03 | Q2 26 | +0.15 | −0.80 |

On July 2nd it did a 1-for-15 reverse split. Everything below is split-adjusted.

Justin Mateen (Tinder co-founder, on the board since March 2025) filed a Form 4 on Aug 7th, two open-market buys, code P:

- Aug 5 - 144,543 shares @ $6.3964

- Aug 6 - 162,438 shares @ $6.1873

306,981 shares, $1,929,607. Holding 185,316 → 492,297, so he bought more this week than he'd accumulated in total beforehand.

Before you read that as a signal: ABTC's insider trading policy (Ex-19.1 to the 10-K) ends the blackout "after the first full business day following the release" of earnings. Q2 printed Monday Aug 3. The window opened Wednesday Aug 5, he bought in the first two sessions the blackout lifted.

What I can't explain is the direction and the size. He also bought 120,000 shares at $15.45 in March, on day two of that window. Average cost $8.86 vs $6.47 today he's ~27% underwater, 58% down on the March lot, and responded by buying 2.5x more. Five Form 4's, zero disposals.

Information, not advice. I run Apibeary which builds tooling in this space. I have no position in ABTC and no position in BTC.