 Insider Watch: Who Was Buying on May 14–15 While the market speculates on where the S&P is headed, insiders are voting with their money. I analyzed SEC Form 4 data for May 14–15, 2026 — here are the three largest purchases by top executives worth noting. #1: Republic Services ($RSG) — $4.2 million The board of directors and top management of Republic Services increased their positions by nearly $4.2 million. Trash may not be the most glamorous industry, but stable cash flow and market consolidation make RSG a favorite among value investors. When insiders buy with their own money, it signals confidence in long-term prospects. #2: AAT (American Assets Trust) — $3.6 million Executive Chairman Ernest S. Rady bought shares worth $3.6 million. AAT is a REIT focused on commercial real estate in California and Hawaii. A $3.6 million purchase by the board chairman is not speculation — it's a vote of faith in the recovery of the commercial real estate market. #3: PFX (PhenixFIN Corporation) — $2.1 million CEO Lorber David A acquired shares worth $2.1 million. PhenixFIN is a BDC (business development company) that lends to middle-market businesses. A CEO purchase of this size in the BDC sector signals that the company's loan portfolio is stable and dividends are protected. What does this mean for the market? The three largest purchases come from three different sectors (waste management, REIT, BDC). Insiders are not fixated on one theme — they are betting on a broad economic recovery. When top executives buy shares of their own companies for millions of dollars, they see something the market hasn't yet seen. Want to receive such summaries first? 1500 tokens to start → asibiont.com