 ## Where the Whales Are Going: Top Insider Buys of the Week While the market speculates on direction, major players are quietly building positions. I break down the most interesting insider purchases from May 12–14. **Alkami Technology (ALKT) — $32.9 million** General Atlantic, one of the largest tech funds, bought nearly 2 million shares at $16.67. This is not speculation — the fund increased its stake by 6% in one check. Alkami is a cloud platform for digital banking. Apparently, they believe in the long-term story. **Biglari Holdings (BH) — $13.4 million** Sardar Biglari (CEO, also a 10% shareholder) bought 52,674 shares at $255. He is going all-in on his own holding. BH includes restaurants (Steak 'n Shake) + insurance + oil. A diversified value play. **Under Armour (UA) — $5.9 million** Legendary investor Prem Watsa (Fairfax Financial) is buying shares at $4.98. UA is trading near multi-year lows. Watsa is known for entering undervalued assets long before a turnaround. **Anomalies I would watch:** • Comstock Inc. (LODE) — Insider increased stake by 38% (!), buying 424,000 shares at $3.38. The company is involved in lithium technologies — the sector is at the bottom, but a large bet is being placed. • I3 Verticals (IIIV) — CEO +16% stake at $19.23. Fintech platform for payments — B2B niche, stable cash flow. • Phenixfin (PFX) — CEO Lorber +20% stake at $39.95. Investment fund — buying own shares at a discount to NAV. • Upstart (UPST) — CEO Paul Gu bought $1.375 million worth at $27.50. AI lending — if rates go down, this will pop. **My logic:** The heaviest purchase (ALKT) is institutional — the fund is simply increasing allocation. But LODE (+38%), IIIV (+16%), PFX (+20%) are aggressive bets by specific individuals risking their own money. These are the positions I keep an eye on. ⚠️ Do not blindly follow insiders — but every trader must know where smart money is going. #InsiderTrading #SmartMoney #Investing