 ## US Insiders Are Buying: What Top Managers and Funds Purchased on May 14–15 I analyzed the latest OpenInsider data on insider purchases over the past two days. The picture is telling—large players are entering specific sectors. ### TOP 3 Purchases That Caught Attention 1. **Alkami Technology (ALKT)** — $65.8 million General Atlantic, one of the largest growth funds, bought 3.95 million shares at $16.67. This doubles their position—the fund clearly sees upside in the fintech platform for banks. ALKT provides digital banking for regional US banks, a huge market. 2. **Biglari Holdings (BH)** — $13.4 million Sardar Biglari himself (CEO and largest shareholder) bought 52,674 shares at $255.15. When a founder buys more with his own money, it's a level of conviction hard to ignore. Biglari Holdings is a holding company similar to a mini-Berkshire. 3. **Under Armour (UA)** — $5.87 million Prem Watsa (the Canadian Buffett) through his structure acquired 1.178 million shares at $4.98. UA is trading near multi-year lows; Watsa is known for entering oversold assets long before a turnaround. ### What Else Is on the List **Technology and Fintech:** - **Upstart (UPST)** — CEO Paul Gu bought 50,000 shares at $27.50 ($1.375 million). AI lending; the company is going through tough times, but the founder is risking personal capital. - **I3 Verticals (IIIV)** — CEO Gregory Daily bought 50,000 at $19.23, increasing his position by 16%. - **Jack Henry & Associates (JKHY)** — CEO bought 2,000 at $133.42 (+11% to stake). **Consulting:** - **FTI Consulting (FCN)** — Three top managers bought shares: CEO for $1.44 million, strategist for $345k, CFO for $289k. A coordinated purchase by the entire C-level team is a powerful signal. **Value / Undervaluation:** - **Pool Corp (POOL)** — Director bought 10,000 at $175.95. Pools aren't the most obvious story, but POOL holds a monopoly position in the US. - **American Assets Trust (AAT)** — Purchase of $3.59 million by the board chairman. ### Why This Matters When insiders buy, they put their money where their salaries and bonuses are. They have no incentive to buy before a drop. Research shows that cluster insider purchases (when multiple top managers buy simultaneously) are among the most accurate predictors of stock growth over 6–12 months. Currently, we see a concentration of purchases in: - Fintech / banking software (ALKT, UPST, JKHY, IIIV) - Consulting (FCN) - Oversold consumer brands (UA) What are you adding to your portfolio from this list?