Activists — daily digest log

🗓 Activist & Insider Signals — Sep 30, 2026 🔍 EMERGING (high-conviction, not on roster) $SAMG · Silvercrest Asset Management Group (boutique wealth & asset manager) — 7.1% [High] Equinox Partners Investment Mgmt (value/EM-focused boutique, ~$1B AUM) · 13FScore 44/100 Why: Concentrated value shop takes a 7.1% active stake in a small-cap asset manager; its book is 97.8% in its top 10 holdings, so this is a real conviction position. Watch for pressure on buybacks or a strategic review; main risk is micro-cap illiquidity. $MCY · Mercury General (California auto & home insurer) — 35.3% [Med] Vicky Wai Yee Joseph (founding-family control holder) Why: A 35.3% family control-stake 13D, not a fresh activist entry — structural insider ownership rather than an event catalyst. Signals continued family alignment with the insurer through its wildfire-loss recovery. $MASK · 3E Network Technology Group (digital network / Web3 tech) — 13.4% [Med] 3E Network Technology Pte (sponsor / affiliated holder) Why: A parent/sponsor-level 13D on a recently listed micro-cap — most likely an affiliate ownership disclosure rather than third-party activism. Thin float; treat as structural. $ZTR · Virtus Total Return Fund (closed-end equity/income fund) — 5.04% [Med] Saba Capital Management (Boaz Weinstein CEF activist, ~$5B AUM) · 13FScore 85/100 Why: Textbook Saba closed-end-fund play — cross 5% then push to narrow the NAV discount via a tender or open-ending. Event-driven; main risk is a slow or contested board response · news 💰 INSIDER BUYS $ADRX · ADARx Pharmaceuticals (siRNA / RNA therapeutics biotech): OrbiMed, Carl Gordon & Erez Chimovits bought ~$33.4M [CLUSTER of 3]. Why: Insiders buying at the $17 IPO price days after the Sep 25 debut — OrbiMed (22.7% post-IPO) doubling down signals conviction in the AbbVie-partnered pipeline; risk is clinical-stage binary readouts · news $KOD · Kodiak Sciences (retinal-disease biotech): Baker Bros. Advisors bought ~$157M (multiple buys). Why: A dedicated biotech specialist adding aggressively after the stock’s big run and ahead of pipeline catalysts; risk is trial outcomes · news $GPI · Group 1 Automotive (auto-dealership retailer): Conifer Management (10% owner) bought ~$66M. Why: A concentrated fund keeps adding to an already ~50%-of-book position — deep-conviction compounding bet on auto retail; risk is concentration and cyclicality · news

$LEN · Lennar (homebuilder): Berkshire Hathaway (10% owner) bought ~$54M. Why: Buffett’s Berkshire crossed 10% with ~$212M of September buying into housing-market weakness — classic value accumulation; risk is prolonged rate / affordability pressure · news $CRBG · Corebridge Financial (life & retirement insurer): Nippon Life (10% owner) bought ~$27.5M. Why: The strategic ~27% owner (ex-AIG unit) is adding to its stake — deepening a long-term insurance partnership rather than a trade · news Nuveen Churchill Private Capital (private-credit BDC): Hamilton Lane, Abu Dhabi Investment Authority & others bought ~$70M. Why: Large institutional subscriptions into a direct-lending vehicle — a yield / structural allocation rather than a directional equity call. Also, smaller High-conviction buys ($1–5M): $BPRE (Bluerock Private RE, R. Kamfar), $NYAX (Nayax, CEO Y. Nechmad), $KBDC (Kayne Anderson BDC), $PRTA (Prothena, 10%% owner W. Scully). 📊 Rest: +2 other 13D filings today (low conviction / small stakes): $HVIIR · ONE Nuclear Energy (NCCS Management, 4.6%), $SSTI · SoundThinking (Transom Capital, 1.16%). Research only — not investment advice.

🎯 Activist & Insider Signal Digest — 29 Sep 2026 🔍 EMERGING (high-conviction, not on roster) $MNYWW · MoneyHero Ltd (SE-Asia personal-finance comparison platform) — 9.0% [Med] Jonathan Honig (small-cap activist investor) Why: Honig holds ~9% of a beaten-down Asian fintech and files a 13D (active) rather than a passive 13G — a push for value at a sub-scale post-SPAC name. Risk: thin float, unprofitable micro-cap. $BRSP · BrightSpire Capital (commercial real-estate credit REIT) — 8.7% [Med] CWRE SSF Securities Holding (CW Investment Advisers) (LA-based special-situations fund) Why: CWRE has stair-stepped from 5% (Mar) to 8.7% (Sep) and converted to a 13D — an activist stance on a CRE-credit REIT trading below book; likely pushing buybacks/strategic review. Risk: CRE credit deterioration. $PPLI · People Inc (digital publisher — People, Meredith brands) — 7.9% [Med] HighSage Ventures (media/internet-focused investment firm) Why: HighSage (a past IAC/Angi/ZoomInfo backer) takes a 7.9% active stake in the former Dotdash Meredith — a bet on ad recovery and AI content-licensing upside at a cheap media asset. Risk: secular decline in digital publishing. 💰 INSIDER BUYS $ADRX · ADARx Pharmaceuticals (RNAi/siRNA clinical-stage biotech): SR One Capital (Simeon George, director+10%) bought ~$27.2M [CLUSTER]. Why: SR One, a ~$1B healthcare VC and pre-IPO lead, is doubling down right after ADARx’s $17 IPO — strong conviction in the siRNA pipeline. Risk: clinical-stage binary. news $COUR · Coursera (online education platform): Pale Fire Capital SE (10%-owner) bought ~$11.4M. Why: The Czech investment group (Pale Fire), Coursera’s largest active holder with board influence, keeps adding through the turnaround + $500M buyback. Risk: slowing consumer/degree growth. $GME · GameStop (video-game retailer): Ryan Cohen (chairman & CEO) bought ~$10.6M. Why: Cohen’s latest open-market buy (~$26M across September) lifts him to ~8.8% — continued alignment plus a cash-rich, optionality-laden balance sheet. Risk: core retail decline, meme volatility. news $CRBG · Corebridge Financial (life & retirement insurer): Nippon Life (10%-owner) bought ~$6.2M. Why: Japan’s Nippon Life — already ~27% and Corebridge’s largest holder — keeps buying into the pending all-stock Equitable merger; strategic accumulation. Risk: merger/regulatory execution. news

$BPRE · Bluerock Private Real Estate Fund (non-traded interval fund): Ramin Kamfar (director) bought ~$5.9M across two buys. Why: Sponsor/chairman seeding his own private-RE vehicle — an alignment signal, but a non-traded fund with limited liquidity, not a tradable catalyst. $PAM · Pampa Energía (Argentine integrated energy): Gustavo Mariani (CEO) bought ~$2.0M. Why: CEO buying alongside the Milei-era energy / Vaca Muerta shale tailwind. Risk: peso and country risk. Smaller / Med insider buys: $PRTA Prothena — W. Scully (10%) ~$0.9M · $HGBL Heritage Global — director ~$0.4M · $LNW Light & Wonder — director ~$0.34M · $CRAFX Cascade Real Assets Fund — director ~$0.3M. 📊 Rest: +2 other 13D filings today (SPAC-sponsor / control stakes — BEST SPAC I Acquisition and NorthStrive Acquisition Corp I). Research only — not investment advice.

📊 Activist & Insider Signals — Sep 29, 2026 SEC filings dated Sep 28, 2026 · 0 new Schedule 13D · 11 qualifying insider buys 💰 INSIDER BUYS $GPI · Group 1 Automotive Inc (auto dealership retailer): Conifer Management, L.L.C. (10%-owner) bought $31.5M [High]. Why: Conifer has aggressively accumulated GPI all month (~$75M+) and just secured a board seat (analyst Benjamin Hart, effective Nov 1) - an activist-style build-up in a cash-generative dealer; risk is auto-retail cyclicality and rate sensitivity. · news $CRBG · Corebridge Financial, Inc. (AIG-spun life & retirement insurer): NIPPON LIFE INSURANCE CO (10%-owner) bought $8.8M [High]. Why: Nippon Life (~27% owner, strategic partner) keeps adding under a 10b5-1 plan - steady structural accumulation rather than an event-driven catalyst. · news $LLYVK · Liberty Live Holdings, Inc. (Liberty Live tracker (Live Nation stake)): MALONE JOHN C (10%-owner) bought $2.9M [High]. Why: Malone reshuffled his Liberty Live stakes (sold Series C, bought Series B in a private swap dated 9/24) - a control-holder rebalance, not fresh outside capital. · news $QVCG · QVC Group, Inc. (home-shopping / e-commerce retailer): GOLDENTREE ASSET MANAGEMENT LP (10%-owner) bought $1.1M [High]. Why: GoldenTree, a credit/distressed manager already on a 13D, keeps buying QVC equity (open-market plus a 1.6M-share block from Silver Point) - a deep-value turnaround bet; high execution risk given secular decline. · news $INBX · Inhibrx Biosciences, Inc. (clinical-stage biotech): Lappe Mark (director+officer) bought $999k [Med]. Why: Founder-linked director/officer buying ~$1M - insider conviction ahead of clinical/financing catalysts; binary risk. $HDSN · Hudson Technologies Inc /Ny (refrigerant reclaim & services): Hartree Partners, LP (10%-owner) bought $604k [Med]. Why: Hartree Partners (commodity merchant, 10% owner) adding on the HFC phase-down pricing theme; commodity-price risk. $LILA · Liberty Latin America Ltd. (LatAm/Caribbean telecom): MALONE JOHN C (10%-owner) bought $459k [Med]. Why: Malone continues his September accumulation of a beaten-down telecom; FX and leverage risk. $INR · Infinity Natural Resources, Inc. (Appalachian oil & gas E&P (recent IPO)): Baetz Cary D (officer) bought $300k [Med]. Why: CFO open-market buy in a newly public gas producer; commodity-price exposure.

$AOMR · Angel Oak Mortgage REIT, Inc. (non-QM mortgage REIT): Fierman Michael (director+10%-owner) bought $291k [Med]. Why: Co-CEO/director adding below book value; rate and credit risk. $ACOG · Alpha Cognition Inc. (micro-cap Alzheimer's drugmaker (ZUNVEYL)): Opaleye Management Inc. (10%-owner) bought $271k [Med]. Why: Opaleye (biotech fund, 10% owner) accumulating into the commercial launch; commercialization risk. $DMRA · Damora Therapeutics, Inc. (clinical-stage biotech): Jarrett Jennifer (director+officer) bought $253k [Med]. Why: Director/officer buy signalling insider conviction; early-stage risk. 📊 Rest: 0 new Schedule 13D activist filings in today’s batch (1,017 filings scanned; 135 Form D, 14 Schedule 13G). Research only — not investment advice.

🎯 Activist & Insider Signals — Fri Sep 25, 2026 🔍 EMERGING (high-conviction, not on roster) $ETRA · Electra Therapeutics (clinical-stage precision-immunology biopharma) — 11.0% [High] OrbiMed Advisors (healthcare crossover/VC fund, ~$17B AUM) · 13FScore 53/100 Why: OrbiMed backed Electra pre-IPO and added $20M (1.33M sh @ $15) in the Sept IPO, lifting it to ~9-11% — conviction continuing post-IPO ahead of clinical readouts; risk is binary trial data. · news. Book: 108 pos, top-10 44.2%. $FMC · FMC Corp (agricultural chemicals / crop protection) — 20.0% [Med] Tessenderlo Group (Belgian agro/specialty group, ~$400M stake) Why: $403M strategic minority investment (30.3M sh @ $13.30) to help FMC deleverage, with a 3-yr lockup, standstill and board nominee — structural/strategic rather than a fast catalyst. · news $RWTN · Redwood Trust (residential-credit mortgage REIT) — 9.0% [Med] Howard Amster (veteran value investor) Why: disclosed a new 9% stake as a separate shareholder presses the REIT to explore a sale — value/event-driven angle, though Amster hasn't endorsed the sale campaign. · news 💰 INSIDER BUYS Core University Living REIT (non-listed student-housing REIT, sponsored by Core Spaces): CS RE Holdings / Marc Lifshin (director+10% owner) bought ~$30.9M and Michael Gamson (director) $5.0M [CLUSTER of 3 filers]. Why: sponsor/insiders seeding a non-listed student-housing REIT — capital formation, not a tradeable public signal (no listed ticker). $LEN · Lennar (US homebuilder): Berkshire Hathaway (10%-owner) bought $136.4M [High]. Why: Buffett/Berkshire adding to a homebuilder into a housing slump & Q3 miss — deep-value contrarian bet; total stake now ~$1.4B. · news $CRBG · Corebridge Financial (US life & retirement insurer): Nippon Life Insurance (10%-owner) bought $7.5M [High]. Why: strategic 10% owner accumulating under a 10b5-1 plan (post-AIG stake build) — structural, not opportunistic. · news

$CX · CEMEX (global cement & building materials): Rogelio Zambrano Lozano (executive chairman) bought $6.9M [High]. Why: chairman buying ~401K shares (via spouse) at ~$17.28 — insider conviction in a cement/margin recovery. · news $KBDC · Kayne Anderson BDC (business development co. / direct lender): James L. Robo (chairman, ex-NextEra CEO) bought $1.4M [High]. Why: chairman buying near/below NAV via Ventus Capital signals confidence in the BDC's credit book and yield. · news $NCT · Intercont (Cayman): Zhu Muchun (director+officer) bought $650K [Med]. Why: small-cap insider adding at the top of the cap table. $HRGN · Harvard Apparatus Regenerative Tech: He Junli (director+officer) bought $394K [Med]. Why: micro-cap officer/director buy — conviction signal but thin liquidity risk. $MX · MagnaChip Semiconductor: Chae Lee (director+officer) bought $318K [Med]. Why: insider adding into the display/power-semis cycle. 📊 Rest: +3 other 13D filings today (low conviction / small stakes / control filings). Research only — not investment advice.

📅 Activist & Insider Signals — Sep 25, 2026 Filings dated Sep 24, 2026 · 7 Schedule 13Ds · 38 qualifying insider buys 🔍 EMERGING (notable 13D stakes, not on roster) $HCWC · Host Digital Inc. (AI/HPC data-center platform, ex-Healthy Choice) — 38.9% [Med] Thomas Hans (individual holder, post-merger insider) Why: Reports 38.9% right after Host Digital’s Sep-17 reverse merger turned the shell into an AI data-center pure-play with a $1.25B 15-yr take-or-pay lease. Founder-side ownership locking in post-deal. Risk: micro-cap, ~96% held by former Host members, thin float. · news $HCWC · Host Digital Inc. (AI/HPC data centers) — 38.9% [Med] Samra Harmol (individual holder, post-merger insider) Why: Second large post-merger 13D on the same Host Digital data-center vehicle — mirror of the Thomas Hans stake, same catalyst and same thin-float risk. $REAX · Real / RE-MAX Group Inc. (residential real-estate brokerage) — 15.3% [Med] David L. Liniger (RE/MAX co-founder, individual) Why: RE/MAX co-founder reports a 15.3% personal stake in a real-estate brokerage name — founder-level conviction / potential consolidation angle in a beaten-down housing-transaction sector. Risk: rates-sensitive, illiquid. $HCWC · Host Digital Inc. (AI/HPC data centers) — 9.99% [Med] · 13FScore 63/100 Graham Capital Management, L.P. (Kenneth Tropin global-macro & trend fund, ~$22B AUM) Why: A $22B macro shop holding exactly 9.99% (just under the 10% line) of a newly-merged AI data-center micro-cap — likely from the recent $17.5M raise; event/PIPE-driven exposure to the data-center buildout rather than a macro trade. · news $TROO · Troops, Inc. (Cayman) (China-based holding / fintech micro-cap) — 8.9% [Med] Lianteng Ltd (investment holding entity) Why: One of two ~8-9% 13Ds filed the same day on Troops — points to a coordinated stake build / possible control or reverse-merger situation in a thin Cayman micro-cap. Risk: shell-level liquidity and disclosure. $TROO · Troops, Inc. (Cayman) (China micro-cap) — 7.9% [Med] WANG & LEE Holdings, Inc. (Nasdaq-listed HK construction/electrical group) Why: Second same-day 13D on Troops, alongside Lianteng — reinforces the coordinated-accumulation read. A listed operating company taking an 7.9% strategic stake hints at a corporate tie-up.

$PRFX · PRF Technologies Ltd. (Israel-based small-cap) — 5.7% [Med] S.H.N. Financial Investments Ltd. (Israeli investment firm) Why: Crosses the 5% line on a small Israeli issuer — early strategic/financial position; watch for follow-on accumulation. Risk: micro-cap, single-name concentration. 💰 INSIDER BUYS Blackstone-affiliated private funds [CLUSTER]: insiders/affiliates seeded BX Multi-Strategy Hedge Fund and BX Private Real Estate Credit & Income Fund — Querrey $7.0M, BX Holdings IV / Multi-Asset Credit ~$5.0M, Collins $2.0M, Desai $0.4M. Structural fund seedings, not public-equity signals. $CRBG · Corebridge Financial (life & retirement insurer, ex-AIG): Nippon Life Insurance (10%-owner) bought $10.2M. Why: 26.7% owner adding under a 10b5-1 plan while committed to vote its stake into the pending Equitable Holdings merger — event-driven accumulation. · news $GSHD · Goosehead Insurance (tech-enabled insurance distribution): Durable Capital Partners (10%-owner) bought $7.1M. Why: Henry Ellenbogen’s growth fund lifted its stake to ~10.8%, adding 150k sh at $47.32 — conviction in a high-growth franchise brokerage after the pullback. · news $NYAX · Nayax Ltd. (payments/vending fintech): Yair Nechmad (CEO & Chairman) bought $4.6M. Why: Founder-CEO open-market buy of 104.5k sh at ~$44 — strong insider conviction signal in a profitable-scaling payments platform. · news $HHH · Howard Hughes Holdings (real-estate / holding co, Ackman-controlled): Marc Grandisson (Exec Chairman & director) bought $1.6M. Why: Ex-Arch Capital CEO and incoming Pershing Square partner adding 25k sh — insider aligning with Ackman’s build-out of HHH into a diversified holdco. · news $MXF · Mexico Fund (Mexico equity closed-end fund): Saba Capital Management (10%-owner) bought $0.6M. Why: Boaz Weinstein’s Saba at ~16% pressing classic CEF activism — a distribution hike, buyback and board-approved tender are catalysts to close the NAV discount. · news

$DKS · Dick’s Sporting Goods (sporting-goods retailer): Navdeep Gupta (CFO) bought $1.0M. Why: CFO open-market purchase signals management confidence as DKS integrates its Foot Locker acquisition. $UXIN · Uxin Ltd (China online used-car dealer): Li Bin / William Li (director) bought $1.0M. Why: Director open-market buy in a turnaround Chinese auto-retail name — insider betting on the used-car recovery. Research only — not investment advice.

📊 Activist & Insider Signals — Sep 23, 2026 🔍 EMERGING (high-conviction, not on roster) $URSB · URSB Bancorp (NJ savings-bank holding co, IPO'd Mar 2026) — 5.4% [High] Lawrence Seidman (veteran community-bank activist, presses thrifts to sell) Why: URSB just completed its mutual-to-stock IPO in March 2026 — freshly converted thrifts trade below book and are classic Seidman targets; he typically accumulates, then pushes the board toward buybacks or an eventual sale. Main risk: a ~3-year post-conversion moratorium on a sale can delay the catalyst. Book: 25 pos, top-10 76.9%. 📊 Rest: +1 other 13D filing today (Lioness Ltd → Cheer Holding at 100% of class — a control / going-private filing). Research only — not investment advice.

🎯 Alpha Signal Digest — Mon Sep 22, 2026 (2 Schedule 13D filings scanned · 1,670 Form 4s → 16 qualifying insider buys) 🔍 EMERGING (high-conviction, not on roster) $MBAI · MBody AI Ltd. (AI body-composition / health-tech, just Nasdaq-listed via reverse merger) — 44.9% [Med] McGee Regan McMillan (board chairman / founder, individual filer) Why: the 44.9% is a control stake that vested when MBody AI reverse-merged into Check-Cap on Aug 26 — founder alignment rather than an outside activist accumulation, so low near-term actionability; thin post-merger float is the main risk · news $TPVG · TriplePoint Venture Growth BDC Corp. (venture-debt BDC lending to VC-backed startups) — 7.42% [Med] TriplePoint Capital LLC (the BDC's external manager / sponsor) Why: the sponsor filing a 13D the same day CEO James Labe bought $1.5M on the open market signals insider conviction in a beaten-down BDC trading near $4.70, below NAV; catalyst is management backing the yield, risk is further credit losses / dividend pressure in the venture-debt book · news 💰 INSIDER BUYS $BBD · Banco Bradesco (major Brazilian retail & commercial bank): 16 officers & directors bought ~$18M combined on Sep 18 [CLUSTER of 21] — incl. Denise Aguiar Alvarez (director, $2.35M), Roberto de Jesus Paris (exec officer, $1.74M) & Oswaldo Tadeu Fernandes ($1.43M). Why: broad insider subscription tied to Bradesco's up-to-R$10B rights offering — strong management alignment, though it is participation in a capital raise rather than pure open-market conviction · news $CRBG · Corebridge Financial (US retirement & life insurer, ex-AIG): Nippon Life Insurance Co (10%-owner) bought $4.58M. Why: continuation of Nippon Life's (~$700B-asset Japanese insurer) staged accumulation under an Aug-2026 Rule 10b5-1 plan — structural strategic buying, not a fresh catalyst · news $TPVG · TriplePoint Venture Growth BDC (venture-debt BDC): CEO James Labe bought $1.48M (313,865 sh), lifting his direct stake ~16%. Why: a sizeable open-market buy by the CEO near $4.70 (below NAV) alongside the sponsor's 13D — clear insider conviction; risk is venture-credit deterioration · news

$BCBP · BCB Bancorp (New Jersey community-bank holding co.): CEO Thomas M. O'Brien bought $1.24M (160,000 sh). Why: the CEO buying into BCB's own underwritten stock offering — alignment amid an expected Q3 net loss; risk is further credit / earnings weakness at the bank · news 📊 Rest: no additional 13D filings — both of today's Schedule 13D filings are shown above. Research only — not investment advice.

🎯 Activist & Insider Digest — Tue 22 Sep 2026 13D filings from 21 Sep · 5 scanned · no roster/priority names, no qualifying insider buys 🔍 EMERGING (notable stakes, not on roster) $CTNT · Cheetah Net Supply Chain Service Inc. (micro-cap logistics & warehousing) — 62.5% [Med] Takeover Time 2026 LLC (Natasha Ovsepyan's personal control vehicle) Why: A 62.5% control stake bought with personal funds; the filer intends to seek a board seat — effectively a change-of-control move on a nano-cap. Highly speculative; main risks are illiquidity and no disclosed operating plan. · news $PDSB · PDS Biotechnology Corp (clinical-stage HPV cancer immunotherapy) — 19.9% [Med] Nant Capital, LLC (Patrick Soon-Shiong's biotech investment arm) Why: Nant led a PIPE of up to $22.55M and took two board seats (incl. Soon-Shiong) plus a one-year exclusive right to negotiate a license on PDS0101 — a billionaire strategic backer doubling down. Catalyst: Phase 3 protocol submission; risk: clinical binary + dilution. · news $HSTM · HealthStream Inc (healthcare workforce learning & credentialing SaaS) — 9.6% [Med] WJRJJ Ventures, LLC (Copart founder Willis Johnson's family vehicle) Why: Billionaire Willis Johnson took a 9.6% stake via a ~$40M private placement at $29.50 (plus shares from the CEO) — a conviction anchor by a proven operator rather than a classic activist. Risk: passive intent, no board catalyst disclosed. · news 📊 Rest: +2 other 13D filings today — Rainmaker Worldwide (RAKR) 16.9% by new officer Kelly White (largely service-comp & convertible shares — insider alignment, not open-market conviction); and Regents Partners Income Fund IV, LP 5.0% (GP/structural filing, no listed ticker). Research only — not investment advice.

📈 Activist & Insider Signals — Sep 18, 2026 🔍 EMERGING (high-conviction, not on roster) NFEGP · New Fortress Energy Inc. (LNG / gas-to-power infrastructure) — 14.7% [High] Strategic Value Partners, LLC (distressed / special-situations PE, ~$19B AUM) · 13FScore 67/100 Why: SVP disclosed a 14.7% stake — largely Series A mandatorily-convertible preferred — in over-levered LNG developer New Fortress Energy: an event-driven distressed bet on a balance-sheet turnaround and asset monetization. Risk: NFE's heavy leverage and lumpy cargo timing. RAKR · Rainmaker Worldwide Inc. (atmospheric water-generation tech) — 16.0% [Med] Michael John O'Connor (individual filer) Why: An individual taking a 16% stake in a micro-cap water-tech name — low-float control dynamics dominate over any fundamental thesis. Risk: nano-cap liquidity and dilution. TROO · Troops, Inc. (Cayman-domiciled small-cap) — 14.7% [Med] JMD Corporate Services Ltd (corporate-services entity) Why: A 14.7% block in a small Cayman-listed issuer — likely an ownership/control reshuffle rather than a conviction thesis. Risk: micro-cap, thin disclosure.

💰 INSIDER BUYS CRBG · Corebridge Financial (life insurance & retirement): Nippon Life Insurance Co (10% owner) bought $11.2M. Why: strategic partner accumulating under a 10b5-1 plan — programmatic, telegraphed conviction rather than fresh signal. · news 5C Lending Partners Corp. (non-traded BDC / direct lending): Liberty Mutual Holding Co (10% owner) bought $9.8M. Why: an insurer funding its commitment to a private-credit vehicle — capital deployment, not a market signal. CV · CapsoVision (AI capsule-endoscopy medtech): Shen Ching Hang (10% owner) bought $5.0M. Why: a large 10%-owner add in a recent small-cap IPO — insider conviction at depressed post-IPO levels. TFC · Truist Financial (regional bank): Michael P. Lyons (President & CEO) bought $1.0M. Why: an open-market CEO purchase — a genuine conviction signal on a beaten-down regional bank. KRMN · Karman Holdings (space & defense systems): David Stinnett (director) bought $1.0M. Why: one of several directors buying near 52-week lows after a ~65% drop — insiders backing the dip; Guggenheim recently initiated Buy. · news LILA · Liberty Latin America (LatAm / Caribbean telecom): John C. Malone (10% owner) bought $0.76M. Why: Malone adding to his stake — a long-term value bet on the telecom. BORR · Borr Drilling (offshore jack-up drilling): Tor Olav Troim (director) bought $0.66M. Why: the chairman/founder buying — conviction on the offshore-rig cycle. Risk: day-rate and oil-price sensitivity. RWT · Redwood Trust (mortgage REIT): Christopher J. Abate (CEO) bought $0.38M. Why: CEO buying his own mortgage REIT below book — a rate-cut leverage play. 📊 Rest: +3 other 13D filings today (low-conviction / small stakes / control filings). Research only — not investment advice.

📈 Alpha Signals — Thu Sep 18, 2026 Activist 13D accumulation + insider buys · filings through Sep 17 🔍 EMERGING (high-conviction, not on roster) $OSUR · OraSure Technologies (oral diagnostics & sample-collection kits) — 5.7% [High] Islet Management, LP (NY tactical long/short, ~$109M AUM) · 13FScore 38/100 Why: Islet steps into an active situation at OraSure — Altai Capital already won a board seat and cooperation deal after management rebuffed a takeover; an event-driven bet on further strategic action. · news $YI · 111, Inc. (China tech-enabled pharmacy / healthcare platform) — 21.4% [Med] Gang Yu (co-founder & co-chairman) Why: the 13D accompanies a $4.52/ADS unsolicited take-private proposal from Yu, Liu & partners — a classic going-private event; risk is a low-ball or failed deal. · news $GREEL · Vulcan Infrastructure & Power (power / infrastructure issuer) — 8.5% [Med] Rogers George Ted III (individual filer) Why: an individual building a stake in a small power-infrastructure name; limited public detail — watch for follow-on filings. $FBLG · FibroBiologics (fibroblast-based cell-therapy biotech) — 7.5% [Med] Hamid Khoja (chief scientific officer) Why: the CSO lifted his stake via a $0.5M private placement (298.5k shares + warrants) — an insider commitment to the clinical pipeline, though a cash-hungry micro-cap. · news 💰 INSIDER BUYS $SBLK · Star Bulk Carriers (dry-bulk shipping): directors/officers Pappa, Zagari, Reskos +1 bought ~$3.1M at $28.27 [CLUSTER of 4]. Why: coordinated buying alongside its Euronext Athens dual-listing — the board signaling confidence in the dry-bulk cycle & dividend. · news $ADC · Agree Realty (net-lease REIT): director Rakolta ($1.38M) & CEO Joey Agree ($0.50M) [CLUSTER of 2]. Why: insiders adding after a strong Q2, buying into rate-sensitive REIT weakness. · news

$BWMX · Betterware de Mexico (direct-to-consumer home goods, Mexico): Chairman Luis Campos ($1.31M) & CEO Andres Campos ($0.74M) [CLUSTER of 2]. Why: the controlling family accumulating via holding companies at a depressed valuation. · news $XBP · XBP Global Holdings (bills-&-payments / business-process outsourcing): Avenue RP Opportunities Fund ($1.49M, 10%-owner) & director Chadha ($0.58M) [CLUSTER of 2]. Why: a 10% holder and an insider accumulating a post-restructuring micro-cap. $COO · Cooper Companies (contact lenses & women's-health devices): director Kurzius ($0.55M) [CLUSTER of 2]. Why: a veteran director (ex-McCormick CEO) adding after share-price weakness. $MNR · Mach Natural Resources (Mid-Continent oil & gas, high-distribution): director/10%-owner McMullen ($0.39M) [CLUSTER of 2]. Why: an insider topping up a high-yield upstream name. $CRBG · Corebridge Financial (life insurance & retirement, AIG spinoff): Nippon Life ($7.39M, 10%-owner). Why: Nippon is executing a 10b5-1 plan (up to 10.9M shares) to lift its stake past ~27% — strategic accumulation, not a trading signal. · news $USO · United States Oil Fund (WTI crude-oil ETF): HRT Financial ($6.78M, 10%-owner). Why: quant market-maker / authorized-participant flow — structural, not a directional oil bet. $BORR · Borr Drilling (offshore jack-up drilling): director Troim ($4.30M, ~1M shares). Why: a chairman-linked trust repeatedly buying in the open market (now ~10%) — strong conviction in the offshore upcycle; risk = rig oversupply / oil prices. · news $INBX · Inhibrx Biosciences (clinical-stage biotech): director Kayyem ($0.50M). Why: a director adding to a small-cap biotech. 📊 Rest: +1 other 13D filing (low-conviction / small stake — Mayers Ventures, 4.9% of Tessera Defense & Homeland Security $PHGE). Research only — not investment advice.

📡 Activist & Insider Signals — Sep 16, 2026 7 Schedule 13D filings scanned · 16 insider buys ≥$250k 🔍 EMERGING (high-conviction, not on roster) $MTN · Vail Resorts (ski-resort operator, Epic Pass) — 6.2% [Med] Oasis Management (Hong Kong activist hedge fund) · 13FScore 88/100 Why: Oasis flipped from passive to activist with this 13D and nominated four directors (incl. Picabo Street and ex-Disney CEO Bob Chapek), opening a proxy fight before the ~December annual meeting to push operational fixes and a possible sale — MTN had its best day in six years on the news. Catalyst: proxy contest / sale; risk: entrenched board, seasonally soft ski demand. · news $DT · Dynatrace (software observability / APM platform) — 5.0% [Med] Pictet Asset Management (Swiss asset manager, ~$300B AUM) · 13FScore 66/100 Why: Pictet lifted its stake past 5% (~$697M cost) and filed a 13D citing governance, strategy and profitability — an engagement stance, explicitly not seeking control. Catalyst: margin/governance push at a high-quality SaaS name; risk: soft engagement may not force change. · news 💰 INSIDER BUYS (open-market, code P, no clusters today) $CRBG · Corebridge Financial (retirement & life insurer, ex-AIG): Nippon Life Insurance (10% owner) bought $10.3M. Why: Japanese insurer running a 10b5-1 plan to lift its ~27% stake toward control — strategic accumulation, not a trading signal. $MNR · Mach Natural Resources (Mid-Continent oil & gas E&P (MLP)): Tom L. Ward (chair/CEO/10% owner) bought $2.0M. Why: SandRidge/Mach founder adding to his own high-yield E&P — conviction in distributions and oil. $AAT · American Assets Trust (West Coast diversified REIT): Ernest S. Rady (exec chair/10% owner) bought $1.08M. Why: Veteran founder-chairman buying his own REIT into rate-driven REIT weakness. $KBDC · Kayne Anderson BDC (private-credit business dev. co.): James L. Robo (director) bought $5.2M. Why: Ex-NextEra CEO backing the BDC with a sizeable director buy. $ACOG · Alpha Cognition (Alzheimer's drug (ZUNVEYL) biotech): Opaleye Management (10% owner) bought $1.06M. Why: Specialist biotech fund adding into the drug's commercial ramp. $CELH · Celsius Holdings (energy-drink brand): Hal Kravitz (director) bought $336k. Why: Director buying after the stock's pullback. $EQPT · EquipmentShare (construction equipment rental/tech (recent IPO)): Jabbok Schlacks (co-founder/CEO) bought $444k. Why: Founder-CEO buying post-IPO.

Excluded as low-signal: $USO (HRT market-making flow, $16.6M), $TLAC SPAC-sponsor buy, structural 10%-owner buys at $ARDC / Privacore, smaller director buys at $SBLK $RWT $TH, and a $FOX filing that was an internal LKM-trust transfer (not an open-market buy). 📊 Rest: +5 other 13D filings today — four control-group filings at Stewards Inc (insiders/founders, 35.9/19.2/17.2/9.6%), and one structural infra/power holding at Vulcan Infrastructure & Power (MIG REF II, 8.2%). Research only — not investment advice.

🎯 Activist & Insider Signals — September 15, 2026 🔍 EMERGING (high-conviction, not on roster) $CYCN · Korsana Biosciences, Inc. (clinical-stage neurodegenerative drug developer, ex-Cyclerion) — 9.9% [Med] Venrock Healthcare Capital Partners III (top-tier healthcare crossover fund, ~$4B AUM) Why: 13D marks Venrock's stake as CYCN reverse-merges with Korsana (rebranding to KRSA); Venrock co-led the ~$380M PIPE, extending deep pre-deal conviction into the public vehicle. Catalyst: merger close; risk: clinical-stage pipeline + dilution. · news $SAFX · XCF Global, Inc. (renewable diesel & sustainable aviation fuel producer) — 6.7% [Med] GL Part SPV II, LLC (existing XCF shareholder / financing SPV) Why: SPV tied to a warrant purchase deal funding up to $100M through end-2026 at a $2.50 strike — a financing/structural stake, not classic activism. Catalyst: capital for the New Rise Reno ramp; risk: dilutive warrant overhang & micro-cap execution. · news 📊 Rest: +2 other 13D filings today (control & SPAC-sponsor filings): JATT Ventures II → JATT II Acquisition Corp (SPAC sponsor, 23.1%); Alternative Liquidity Index LP → General Steel Holdings (83% control stake, no active US listing). Research only — not investment advice.

🎯 Activist & Insider Signal Digest — Sep 14, 2026 🔍 EMERGING (high-conviction, not on roster) $MDCXW · Medicus Pharma Ltd. (clinical-stage precision-oncology biotech; SkinJect skin-cancer patch) — 5.3% [Med] Raza Bokhari (Exec Chairman & CEO; RBx Capital family office) Why: Control/insider filing — Bokhari is Medicus's Exec Chairman & CEO disclosing his own ~5.3% beneficial stake (direct shares + RBx Capital + options), not an outside activist accumulating. Modest standalone signal; the real catalyst is the company's pivot to a precision-oncology focus and FDA clearance to begin the SkinJect Gorlin-syndrome registrational study — financing/dilution the main risk. · news Research only — not investment advice.

🎯 Activist & Insider Signals — Sep 11, 2026 8 Schedule 13Ds + 26 qualifying insider buys scanned. 🔍 EMERGING (high-conviction, not on roster) $CYCN · Korsana Biosciences (clinical-stage biotech, Cyclerion reverse merger → KRSA) — 19.99% [High] Fairmount Funds Management (healthcare-focused hedge fund, ~$2.5B AUM) · 13FScore 91/100 Why: Event-driven biotech — Fairmount led the ~$380M PIPE backing Korsana’s merger into Cyclerion; a top-decile biotech picker taking 19.99% signals deep pipeline conviction. Risk: binary clinical readouts, post-merger dilution. · news $GREE · Vulcan Infrastructure & Power (ex-Greenidge, pivoting to AI/HPC data-center power) — 9.8% [High] Conversant Capital (opportunistic credit & real-assets fund, ~$2.8B AUM) · 13FScore 44/100 Why: Structural bet on the AI-power pivot — Conversant co-led the $39.4M PIPE and is shaping the board/consolidation. Catalyst: energized-site buildout; risk: execution & financing on a small-cap turnaround. · news $USAR · USA Rare Earth (US rare-earth magnets & mining) — 7.9% [Med] VB (Rare Earths) Ltd (Vision Blue Resources vehicle, strategic investor) Why: Took 7.9% and a board seat via the Serra Verde merger — a strategic partner locking in a rare-earth supply/consolidation thesis. Risk: dilution, production ramp execution. $RAKR · Rainmaker Worldwide (atmospheric water / water-tech micro-cap) — 19.7% [Med] Moore, Ryan Dennis (individual filer) Why: One of two affiliated 13Ds on RAKR the same day — looks like an insider/control group consolidating a thin-float nano-cap. Highly speculative. $GPOX · GPO Plus (distribution & CPG micro-cap) — 12.69% [Med] Pojunis, Brett H. (founder/CEO) Why: Founder-CEO 13D signals insider alignment, but it’s a nano-cap distribution story — high risk, low liquidity. $RAKR · Rainmaker Worldwide (atmospheric water / water-tech micro-cap) — 6.2% [Med] Skinner, Michael A. (individual filer) Why: Second same-day RAKR 13D — reinforces the insider/control-group read on this micro-cap.

$AMH-PH · American Homes 4 Rent (single-family rental REIT, preferred series) — 5.98% [Med] Gustavson, Tamara Hughes (individual, long-time major holder) Why: Longtime large holder (Public Storage family) filing on a preferred series — likely structural/passive rather than an activist catalyst. 💰 INSIDER BUYS $CYBN · Cybin Inc. (clinical psychedelic-therapeutics biotech): So Eric (Executive Chair) $1.24M + Glavine Paul (Chief Growth Officer) $1.25M [CLUSTER of 2]. Why: Two execs each bought 100k shares after a positive year-end update — conviction into trial catalysts. · news $RLMD · Relmada Therapeutics (clinical-stage biotech): Traversa Sergio (CEO) $828k + Shenouda Maged (CFO) $844k [CLUSTER of 2]. Why: CEO+CFO each bought 200k shares near $4 — classic beaten-down-biotech double-buy signaling a floor. · news $GPI · Group 1 Automotive (auto dealership group): Conifer Management (10%-owner) bought $23.7M. Why: Engaged 10% holder adding heavily and seeking a board seat — supportive/activist-lite stake. · news $GREE · Vulcan Infrastructure & Power (AI/HPC data-center power, ex-Greenidge): Rogers George Ted III (director) bought $5.0M. Why: Director matching the Conversant PIPE thesis on the AI-power pivot. $CRBG · Corebridge Financial (life insurance & retirement): Nippon Life (10%-owner) bought $4.6M. Why: Largest holder (~27%) accumulating under a 10b5-1 plan tied to the Equitable deal — structural, not a fresh signal. · news $ANGX · Angel Studios (faith-based film/TV studio): Sarowitz Steven (director) bought $2.5M. Why: Director keeps adding — repeat insider conviction. · news $USLM · United States Lime & Minerals (lime & limestone producer): Candou Holdings (10%-owner) bought $2.2M. Why: 10% owner adding to a steady, cash-generative materials name. $PVH · PVH Corp. (apparel — Calvin Klein, Tommy Hilfiger): Larsson Stefan (CEO) bought $1.0M. Why: CEO open-market buy — leadership confidence after a soft apparel tape. $DGICA · Donegal Group (regional P&C insurer): Donegal Mutual (10%-owner) bought $449k. Why: Routine intercompany accumulation by the affiliated mutual.

$TNON · Tenon Medical (spine/medtech micro-cap): HRT Financial (10%-owner) bought $383k. Why: 10% holder adding to a speculative micro-cap medtech. 📊 Rest: +1 other 13D filing today (SPAC-sponsor filing on Three Lions Acquisition Corp). Research only — not investment advice.

📊 Activist & Insider Signals — Sep 10, 2026 13D accumulation + qualifying insider buys, ranked by conviction. 🔍 EMERGING (high-conviction, not on roster) $ATER · Aterian, Inc. (consumer-brands e-commerce roll-up) — 95.7% [Med] David Lazar (shell/control & recap investor) Why: A distressed change-of-control — Lazar took ~95.8% of ATER via a $7M convertible-preferred investment alongside a sale of the company’s brand assets. This is a recapitalization/shell-control play, not open-market activist accumulation, so clone value for a fundamental investor is minimal and risk is extreme. · news 💰 INSIDER BUYS $CYBN · Cybin Inc. (clinical-stage psychedelics biotech): Eric So (Exec Chair) bought $1.2M & Paul Glavine (CGO) bought $1.2M [CLUSTER of 2]. Why: Two senior insiders adding ~$2.4M combined on the open market signals conviction ahead of late-stage depression trial catalysts; risk is binary trial outcomes and dilution/cash burn. · news $RSG · Republic Services, Inc. (#2 US waste & recycling): Cascade Investment, L.L.C. (10%-owner) bought $159.6M. Why: Bill Gates’s Cascade keeps adding to a long-held stake — patient, structural permanent-capital accumulation rather than an event-driven trade; supportive of value but light on near-term catalyst. · news $QVCG · QVC Group, Inc. (video/home-shopping retailer): GoldenTree Asset Management (10%-owner) bought $26.0M. Why: A distressed-credit fund crossed 10% and bought a 1.6M-share block from Silver Point at $16.25 — a control-oriented, restructuring/event-driven equity bet on a deeply challenged retailer; high risk. · news $GME · GameStop Corp. (video-game & collectibles retailer): Ryan Cohen (Chairman/CEO) bought $20.4M. Why: Cohen added 1.0M shares, lifting his direct stake to ~39.3M — continued founder-led conviction; retail/meme catalyst but still no operating turnaround. · news $UBER · Uber Technologies, Inc. (rides/delivery platform): Dara Khosrowshahi (CEO) bought $10.0M. Why: CEO buying the dip (COO added $5.3M days earlier) — C-suite cluster conviction in a now-profitable, FCF-generative platform; constructive. · news

$UPST · Upstart Holdings, Inc. (AI consumer-lending platform): Paul Gu (co-founder/director) bought $1.3M. Why: Founder adding conviction in a high-beta AI-lending name levered to rate cuts and the credit cycle. $ATEC · Alphatec Holdings, Inc. (spine-surgery devices): Patrick Miles (Chairman/CEO) bought $1.0M. Why: Founder-CEO adding in a fast-growing spine implant maker; growth story vs cash-burn/leverage risk. $CELH · Celsius Holdings, Inc. (energy-drink brand): John Fieldly (Chairman/CEO) bought $494K [Med]. Why: CEO buying after a growth deceleration; PepsiCo distribution tailwind against slowing scanner-data risk. $CLPR · Clipper Realty Inc. (NYC residential/commercial REIT): Sam Levinson (director/10%-owner) bought $388K [Med]. Why: Sponsor/insider adding in a small, rate-sensitive NYC REIT; illiquid, leverage-sensitive. Research only — not investment advice.

📈 Activist & Insider Signals — Sep 9, 2026 Daily accumulation watch — 12 Schedule 13Ds scanned + qualifying open-market insider buys. No roster names today; signal is concentrated in insider buying. 🔍 EMERGING — 13D stakes, not on roster (all Med conviction) Blue Laser Fusion, Inc. (private laser-driven fusion-energy startup) — 100.0% [Med] Lucius Partners LLC (holding entity) Why: One of four Blue Laser insider 13Ds filed together — a control / pre-IPO registration event at a private fusion venture, not a tradeable campaign. No US-listed ticker yet. $FRTT · Fort Technology Inc (nano/tech micro-cap) — 71.8% [Med] Nexera Technologies Ltd (strategic holder) Why: A 72% block is a control stake, not minority activism — likely a strategic/insider consolidation in a thinly-traded micro-cap; liquidity risk is high. $SWVLW · Swvl Holdings Corp (Dubai/Egypt mass-transit & bus-booking app) — 38.9% [Med] Ali Abdalla (co-founder / insider) Why: Large founder/insider stake in a post-SPAC transit name that has restructured hard — control-holder conviction, but a speculative, cash-sensitive micro-cap. $ODYS · Odysight.ai Inc. (AI visual monitoring for defense, aerospace & medical) — 33.34% [Med] Moshe Arkin (veteran Israeli pharma billionaire investor) Why: A deep-pocketed anchor investor holding a third of an AI+defense predictive-maintenance play (NASA/defense customers) — the most investable emerging stake here; risk is micro-cap dilution after recent raises. Blue Laser Fusion, Inc. (private laser-fusion startup) — 24.88% [Med] Shuji Nakamura (Nobel-laureate co-founder, blue-LED inventor) Why: Founder stake in the same private fusion venture — thematically interesting (fusion), but not tradeable; no listed shares. $HOS · Hornbeck Offshore Services (offshore-support & subsea vessels; deepwater/defense/renewables) — 23.7% [Med] ASOF (Ares Special Opportunities) (PE/credit fund, ~$11B) Why: Sponsor stake in the newly merged Helix+Hornbeck offshore-services leader (closed Sep 2, HLX→HOS). Event-driven: post-merger synergy + offshore upcycle; risk — cyclical day-rates, illiquid sponsor block. $ABTS · Abits Group Inc (small-cap fintech / digital-asset holding) — 22.7% [Med] ARC Group International Ltd (strategic holder) Why: 23% strategic block in a nano-cap crypto/fintech shell — control-oriented, highly speculative and low-float.

$GPRO · GoPro, Inc. (action cameras — pivoting into AI-datacenter optics) — 20.3% [Med] Nicholas Woodman (founder & CEO, ~62% voting power) Why: Founder re-upped (and put in $20M senior financing) around the Sept-1 Starman Optical merger that pivots GoPro into AI-datacenter/defense optics — stock spiked ~40%. Event-driven catalyst; risk — deal execution, dilution and meme-squeeze volatility. · news 💰 INSIDER BUYS (open-market, clusters first) $CYBN · Cybin Inc. (clinical-stage psychedelic / mental-health biotech): Exec Chair Eric So bought $1.12M and Chief Growth Officer Paul Glavine $1.04M [CLUSTER of 2]. Why: A "swell" of voluntary insider buys after a positive year-end update — management conviction ahead of late-stage psychedelic-therapy readouts; risk is clinical/regulatory. · news $PRTS · CarParts.com, Inc. (online aftermarket auto-parts retailer): CEO David Meniane $749K and COO Michael Huffaker $748K [CLUSTER of 2]. Why: Coordinated open-market buying near 52-week highs after the stock roughly doubled YTD — top brass backing the turnaround; risk — discretionary demand, thin margins. · news $ALMS · Alumis Inc. (clinical-stage immunology biotech): director Srinivas Akkaraju bought ~$10.7M (via Samsara BioCapital). Why: Repeated multi-million VC-director buys through 2026 (on top of a $10M January buy) — a deep-pocketed insider doubling down pre-catalyst; risk — cash burn, trial outcomes. · news $GWAV · Greenwave Technology Solutions (metal recycling / scrap-metal operator): CEO Danny Meeks "acquired" $8.0M [Form 4]. Why: Caveat — this is a related-party debt-to-equity swap (DWM Properties exchanged a ~$5.4M note + receivables for shares), NOT fresh open-market cash; balance-sheet cleanup, weaker signal, dilutive micro-cap. · news $PSEC · Prospect Capital (business-development company / BDC): CEO John Barry bought ~$2.7M (1.22M sh), lifting his stake toward ~27%. Why: Serial founder-CEO open-market buying in a BDC trading below NAV — persistent skin-in-the-game at a discount; risk — credit/NAV erosion, dividend coverage. · news

CIM Group, Inc. (private real-estate & infrastructure manager): co-founder Richard Ressler bought ~$2.7M. Why: Insider conviction inside a privately-held manager — signals internal confidence but is not directly tradeable (no public ticker). Smaller Med-conviction buys: • $SLGL · Sol-Gel Technologies (dermatology drug developer): 10% owner Opaleye Management, $687K • $SEI · Solaris Energy Infrastructure (mobile power & frac-sand logistics): director AJ Teague, $501K • $GPUS · Hyperscale Data (AI/HPC data centers & bitcoin mining): Milton Ault III, $407K • $BWFG · Bankwell Financial (Connecticut community bank): director/10% owner Lawrence Seidman, $353K • $DGICA · Donegal Group (regional P&C insurer): affiliate Donegal Mutual, $315K • $ENHA · Enhanced Group (recently-listed holding co): director/10% owner Apeiron Investment Group (Christian Angermayer), $286K • $DY · Dycom Industries (telecom/utility infrastructure construction): officer Daniel Peyovich, $252K 📊 Rest: +4 other 13D filings today — two more Blue Laser Fusion insider 13Ds (7.3% & 6.2%) plus two Cybin director 13Ds (~5.8% each; those names also appear under Insider Buys above). Research only — not investment advice.

🎯 Activist & Insider Signals — Mon Sep 8, 2026 4 Schedule 13D filings · 18 qualifying insider buys 🔍 EMERGING (high-conviction, not on roster) $DLPN · Dolphin Entertainment, Inc. (entertainment marketing & content studio) — 19.0% [Med] O’Dowd William IV (founder & CEO) — filed SCHEDULE 13D Why: A founder-CEO control stake, not an outside activist — signals insider alignment on a thin-float micro-cap rather than a new campaign. $AGNT · AGNT, Inc. (real-estate tech; formerly eXp World Holdings / eXp Realty) — 10.8% [Med] Gratitude 2022 Trust (founder-linked family trust) Why: The 13D/A only records a successor-trustee change after the prior trustee’s death — administrative, not fresh accumulation. Low signal value. $SSM · Sono Group N.V. (former solar-EV shell; pending reverse merger with Sports One) — 5.5% [Med] Kelly Christopher Michael (co-founder of Sports One; Sacramento Kings co-owner) Why: Event-driven — stake tied to an Aug 31 LOI to reverse-merge Sono into Sports One, a proposed sports-franchise permanent-capital vehicle. Catalyst is deal close; key risk is the non-binding LOI collapsing. · news $PRVA · Privia Health Group, Inc. (physician-enablement / value-based-care network) — 5.07% [Med] Rubicon Founders (healthcare-focused investment firm, Boehler-led) Why: Founder Adam Boehler already sits on Privia’s board and the position is ~89% of Rubicon’s disclosed book — a concentrated, strategically-aligned long-term bet on value-based care. Risk: reimbursement/policy. · news 💰 INSIDER BUYS $INBX · Inhibrx Biosciences (clinical-stage biotech): 3 insiders — Mark Lappe (dir+officer) $2.6M, Jon Kayyem (dir) $0.57M, Douglas Forsyth (dir) $0.29M [CLUSTER of 3]. Why: Coordinated same-day open-market buying by three insiders is a classic conviction cluster — board confidence in the pipeline. · news $RSG · Republic Services (waste management & recycling): Cascade Investment (Bill Gates’s holding co, 10%-owner) bought $164.7M. Why: Cascade is a perennial RSG accumulator — recurring long-term buying that barely moves its % stake, not a fresh catalyst. · news

$GPI · Group 1 Automotive (auto-dealership group): Conifer Management (activist value fund, 10%-owner+director) bought $40.6M. Why: Conifer flipped 13G→13D in Aug and is seeking a board seat — an escalating activist accumulation; catalyst is board representation / capital allocation. · news $PAMT · PAMT Corp (truckload carrier, ex-PAM Transport): Matthew Moroun (dir+10%-owner) “acquired” $31.2M. Why: NOT a conviction buy — a privately-negotiated transfer of Moroun’s own shares into a family trust (estate planning); no new capital or open-market signal. · news $QVCG · QVC Group (video/livestream-commerce retailer): GoldenTree Asset Management (credit/distressed manager, 10%-owner) bought ~$11.8M. Why: A credit holder steadily building equity in a beaten-down, leveraged retailer ahead of a possible turnaround/restructuring — high risk. · news $UBER · Uber Technologies (ride-hail & delivery platform): Andrew Macdonald (officer) bought $5.3M. Why: A sizable open-market buy by a senior operating executive — a positive insider signal on the core mobility business. $GOLD · Gold.com, Inc. (tokenized-gold platform): Tether (stablecoin issuer, 10%-owner) bought $3.9M. Why: Strategic vertical bet — Tether integrating its XAU₮ tokenized gold into Gold.com’s distribution, part of its broader gold accumulation. · news $SUJA · Suja Life (organic cold-pressed beverages): Paine Schwartz (food/agribusiness PE, 10%-owner) bought $3.1M. Why: A specialist food-and-ag sponsor adding to a recent portfolio holding — conviction from a sector expert. $GME · GameStop (video-game & collectibles retailer): Lawrence Cheng (director) bought $1.0M on earnings day, +62% to his stake. Why: Insider buying into a Q2 collectibles-revenue beat and raised full-year outlook — a board-confidence signal. · news $AMR · Alpha Metallurgical Resources (metallurgical-coal producer): Kenneth Courtis (director) bought $2.3M. Why: A director buying into a cyclical met-coal name — insider confidence near a trough in the coal cycle. $DXYZ · Destiny Tech100 (closed-end fund holding private tech): Sohail Prasad (dir+officer) bought $1.8M. Why: The manager buying his own vehicle — alignment on the private-tech NAV thesis (trades at wide premium/discount swings).

$TENX · Tenax Therapeutics (clinical-stage cardio biotech): ADAR1 Capital (healthcare fund, 10%-owner) bought $1.6M. Why: A specialist healthcare fund adding to a small-cap biotech position. $EIKN · Eikon Therapeutics (biotech): The Column Group (life-sciences VC, 10%-owner) bought $1.0M. Why: A founding VC backer adding on the open market — continued conviction post-listing. $TSN · Tyson Foods (protein/meat producer): Jeffrey Schomburger (dir+officer) bought $1.0M. Why: Director/officer buying a large-cap staples name — modest insider confidence. $GPUS · Hyperscale Data (AI data-center & bitcoin-mining holding co): Milton Ault III (dir+officer+10%-owner) bought $0.41M. Why: The controlling insider adding to a highly speculative, heavily-diluted name. $CMTG · Claros Mortgage Trust (commercial-mortgage REIT): Richard Mack (CEO/director) bought $0.35M. Why: CEO buying into a beaten-down CRE-credit REIT — a value/insider-confidence signal amid CRE stress. 📊 Rest: 0 other 13D filings (all 4 of today’s 13Ds are shown above). Research only — not investment advice.

📊 Activist & Insider Signals — Sep 4, 2026 🔍 EMERGING (high-conviction, not on roster) $VNRX · VolitionRx Ltd (blood-based epigenetic cancer diagnostics) — 7.4% [High] Lagoda Investment Management (NY healthcare/tech-focused fund) · 13FScore 68/100 Why: Long-running accumulation in a sub-$1 diagnostics micro-cap (Nu.Q assays); deep-value bet on assay commercialization, main risk is cash burn and dilution. · news. Book: 25 pos, top-10 74.6%. $BFNH · BioForce Nanosciences Holdings (former nanotech shell pivoting to Nevada oil & gas leases) — 79.6% [Med] Nexus Capital Investments (controlling shareholder / shell sponsor) Why: Control filing — Nexus owns ~80% and assigned oil-and-gas leases into the shell via Natural Minerals Trust; highly speculative reverse-merger vehicle, not an activist alpha signal. · news AMG Pantheon Infrastructure Fund (non-traded private infrastructure interval fund) — 32.3% [Med] BlueArc Capital Management (Atlanta alternatives / private-wealth manager) Why: Allocator holding Class S units of a non-traded fund — a structural feeder position, not a tradable equity signal. · news $RDPTF · Radiopharm Theranostics Ltd (clinical-stage radiopharmaceutical oncology developer) — 20.9% [Med] Lantheus Holdings (public radiopharma company, ~$6B) Why: Strategic corporate stake — Lantheus keeps raising its position (now ~15-21%) and licenses RAD's LRRC15/TROP2 assets; event-driven radiopharma pipeline bet, risk is clinical-stage binary. · news Research only — not investment advice.

💰 Insider Buys — Sep 4, 2026 (late update) Qualifying open-market buys surfaced after this morning's digest. $LILA · Liberty Latin America (Latin America/Caribbean telecom & broadband): Alfonso de Angoitia (director) bought $9.98M (476,190 sh @ ~$20.95, Aug 31–Sep 2). Why: Big conviction buy — Angoitia (Grupo Televisa exec vice-chair) more than tripled his stake in a deeply discounted LatAm telecom; value/turnaround bet, risk is high leverage & FX. · news $MSCI · MSCI Inc. (index, ESG & analytics provider): Rajat Taneja (director) bought $1.0M (1,786 sh @ $560, Sep 2). Why: Director adding to a wide-moat compounder on a pullback; risk is passive-fee pressure & rich valuation. $ATRA · Atara Biotherapeutics (allogeneic T-cell therapy, EBVALLO): Brian N. Cherry (director) bought $1.0M (104,166 sh @ $9.60, Sep 4). Why: Distressed-biotech director buy ahead of Pierre Fabre's FDA Type A meeting on EBVALLO's accelerated-approval path; binary catalyst, high risk. · news $DGICA · Donegal Group (regional P&C insurer): Donegal Mutual Insurance Co (10%-owner) bought $382k (Sep 2–3). Why: Structural buy by the controlling mutual parent, not a discretionary alpha signal. Fortress Net Lease REIT (non-traded net-lease REIT): Tiedemann Advisors LLC (10%-owner) bought $5.0M (Sep 1). Why: Subscription into a private/non-traded REIT — structural capital deployment, no listed-equity signal. Research only — not investment advice.

🗓 Activist & Insider Signals — Sep 2–3, 2026 11 Schedule 13D filings scanned · 90 qualifying insider buys 🔍 EMERGING (high-conviction, not on roster) $DH · Definitive Healthcare Corp. (healthcare commercial-intelligence SaaS) — 58.54% [High] Advent International (global private-equity firm, ~$90B AUM) · 13FScore 5/100 Why: Advent filed a 13D carrying a $1.02/share take-private proposal — a ~36% premium to the 60-day VWAP; founder Jason Krantz would roll his equity. Event-driven — deal completion is the catalyst, a withdrawn or lowered bid the main risk · news. Book: 30 pos, top-10 89.2%. $KLXER · KLX Energy Services Holdings (US oilfield-services provider) — 8.9% [High] Steel Partners Holdings (diversified industrial holding company, ~$3B) · 13FScore 39/100 Why: Steel Partners bought ~1.7M shares Aug 11–Sep 3 at $1.49–1.54 while KLX runs a $125M rights offering to cut leverage — a deleveraging/turnaround bet; oilfield-services cyclicality and dilution are the risks · news. Book: 10 pos, top-10 100%. $JTTT · JATT III Acquisition Corp (blank-check SPAC) — 22.1% [Med] JATT Ventures III (SPAC sponsor vehicle) Why: Sponsor founder-share stake in its own SPAC — a structural control filing, not an active-conviction trade; relevant only if a de-SPAC target is announced. AMG Pantheon Infrastructure Fund, LLC (non-traded private-infrastructure fund) — 21.3% / 20.4% (two share classes) [Med] BlueArc Capital Management (registered investment adviser) Why: Large seed/holder position in a non-traded infrastructure fund — a structural/passive stake, not an activist catalyst. $DYNR · DynaResource, Inc. (Mexico-focused gold miner) — 20.17% [Med] Gareth Nichol (individual insider/affiliate) Why: Insider crossing the 13D threshold in a micro-cap gold name — control/ownership signal; illiquidity is the main risk. $DH · Definitive Healthcare Corp. (healthcare commercial-intelligence SaaS) — 17.6% [Med] Jason Krantz (founder & Executive Chairman) Why: Founder switching to a 13D as Advent’s take-private lands — he is expected to roll his equity into the deal, aligning him with the buyout.

$PSQLW · Pasqal Holding SA (French quantum-computing company, recent de-SPAC) — 11.4% [Med] Bpifrance Participations (French state investment bank) Why: Strategic state-backed holder continuing its pre-listing stake post-de-SPAC — a long-horizon backer, not a trade; deep-tech cash burn is the risk. $DT · Dynatrace, Inc. (observability / application-monitoring software) — 5.0% [Med] Pictet Asset Management (global asset manager) · 13FScore 66/100 Why: A crossing-5% engagement filing — Pictet says it discusses governance and strategy but seeks no control; a constructive, not activist, stake. 💰 INSIDER BUYS (no clusters) $RSG · Republic Services (US waste & recycling): Cascade Investment (Bill Gates’ 10%-owner vehicle) bought ~$119M. Why: Cascade keeps accumulating — now ~36.7% of RSG — a high-conviction long-term compounder bet · news. $GPI · Group 1 Automotive (auto dealership group): Conifer Management (10%-owner) bought ~$8.3M. Why: continued open-market accumulation by a large holder. $AON · Aon plc (global insurance brokerage): Lester B. Knight (director) bought ~$6.5M. Why: sizable open-market purchase by a long-tenured director. $AAT · American Assets Trust (West-Coast diversified REIT): Ernest S. Rady (chairman & 10%-owner) bought ~$3.7M. Why: founder-chairman adding to an already-dominant stake. $SUJA · Suja Life (organic cold-pressed beverages): Paine Schwartz Food Chain Fund V (10%-owner) bought ~$5.4M. Why: food/ag PE sponsor adding to its position. 📊 Rest: +2 other 13D filings today (small-cap / SPAC-type filings: SkyAI, Nexalin Technology), plus several fund/BDC 10%-owner Form 4 buys (AMG Pantheon, Sixth Street Lending, Crescent Private Credit). Research only — not investment advice.

📅 Alpha Signals — filed 2026-09-01 🔍 EMERGING (high-conviction, not on roster) $NPHC · Nutra Pharma Corp (OTC micro-cap pharma/consumer shell) — 100% [Med] Pure Raw Supplies, LLC (private FL holder) Why: The 100% is of a newly-issued Series B PREFERRED (super-voting) class, not common stock — a classic shell-takeover / reverse-merger control setup in a penny name. Highly speculative; not a conventional activist accumulation.

💰 INSIDER BUYS John Hancock GA Senior Loan Trust (Manulife/John Hancock senior-loan vehicle): Manufacturers Life Reinsurance & Manulife Bermuda bought ~$67M combined [CLUSTER of 2]. Why: Intra-group insurance/reinsurance seeding of an affiliated loan trust — structural, not an investable equity signal. $RSG · Republic Services (US waste collection & recycling): Cascade Investment (10%-owner) bought $122.4M. Why: Cascade is Bill Gates's investment vehicle and a longtime top holder still steadily accumulating on the open market — deep-conviction structural buyer, not a catalyst trade. $AUGO · Aura Minerals (gold & copper miner, Americas): Bruno Sousa Mauad (director) bought $21.8M via Kapitalo. Why: Large director open-market buy in a recently Nasdaq-listed gold/copper producer — leverage to firm gold prices, though paired with a smaller personal share sale · news. $LILA · Liberty Latin America (Caribbean/LatAm telecom & broadband): John C. Malone (10%-owner) bought $1.03M. Why: Malone adding to a deep-value telecom he chairs — insider-value signal. $ITT · ITT Inc (diversified industrial — motion & flow tech): Luca Savi (CEO/director) bought $1.0M. Why: CEO open-market add signals confidence in the industrial cycle (note Savi also sold earlier in 2026 to fund a home purchase).

💰 INSIDER BUYS (cont.) $LINE · Lineage (cold-storage logistics REIT): Kevin Marchetti (director/officer/10%-owner) bought $988k [Med]. $LUCK · Lucky Strike Entertainment (bowling & location-based entertainment): John Alan Young (director) bought $634k [Med]. $ASTS · AST SpaceMobile (satellite direct-to-phone broadband): Adriana Cisneros (director) bought $619k [Med]. $WALD · Waldencast (beauty & wellness brands — Obagi, Milk): Cristiano Souza (director/10%-owner) bought $506k [Med]. $EQPT · EquipmentShare (construction equipment rental & fleet tech): Jabbok Schlacks (director/officer) bought $440k [Med]. $AFCG · Advanced Flower Capital (cannabis-focused commercial lender): Leonard Tannenbaum (director/10%-owner) bought $424k [Med]. $FTCI · FTC Solar (solar tracker systems): Shaker Sadasivam (director) bought $272k [Med].

📊 Rest: no other 13D filings today (1 scanned, surfaced above). Research only — not investment advice.