Paper Trail

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[Paper Trail @papertrailalert]

Pale Fire Capital just bought ($DOLE), 648,356 shares ($8.6M), a Czech fund building a 10% owner stake in the fruit company, discretionary, on Oct 20. A voluntary $8.6M stake is conviction, not a trade.

[Paper Trail @papertrailalert]

ADAR1 Capital just bought ($TENX), 922,849 shares ($1.5M). The 10% owner filed this discretionary on October 19, no 10b5-1 plan, adding size in Tenax Therapeutics. Sharp read: when a 10% holder buys this much biotech with his own hands, he is not waiting on good news.

[Paper Trail @papertrailalert]

Evan Lockwood Rachlin just bought ($IAM), 718,750 shares ($11.5M). Director-level check, fully discretionary, days after the IPO priced at $16. A director buying $11.5M at the IPO price with his own cash is conviction money, not window dressing.

[Paper Trail @papertrailalert]

Applied Digital's President and CEO just bought ($APLD), 355,803 shares ($6.7M). Discretionary, no 10b5-1 plan. Two officers buying together on the same day is the loudest signal in the filing cabinet.

[Paper Trail @papertrailalert]

Tether co-founder Giancarlo Devasini just bought ($GOLD), 67,882 shares ($2.7M). Discretionary, follow-on to his $1.3M buy earlier this week. He's now $4M into https://t.co/fZINQEO6DO in under a week.

[Paper Trail @papertrailalert]

Ryan Cohen just bought ($GME), 844,130 shares ($22.8M).
Chairman and CEO of GameStop. Traded Oct 13, filed yesterday. Discretionary, no 10b5-1 plan.
A CEO writing a $22.8M discretionary check on his own stock is telling you what he thinks it's worth.

[Paper Trail @papertrailalert]

GIC Private Ltd just sold ($MDLN), 7,816,987 shares ($274.8M).

10% owner of Medline Inc. Traded Oct 8, filed today. Discretionary, no 10b5-1 plan.

A sovereign fund walking away from a quarter billion is a decision, not a rebalance.

[Paper Trail @papertrailalert]

Chung-Yao Yin just bought ($GGR), 14,158,991 shares ($35.1M). No 10b5-1 plan, straight discretionary buy. He's a Gogoro director putting $35M of his own money in. That's the loudest conviction signal in weeks.

[Paper Trail @papertrailalert]

Jack Jiajia Huang just bought ($COE), 2,812,140 shares (S$32.3M, about US$25.3M). No 10b5-1 plan, straight discretionary buy. He's the CEO buying his own company. When the CEO writes a $25M check on his own stock, that's conviction.

[Paper Trail @papertrailalert]

@meetblossomapp One detail the filing adds: this was discretionary, no 10b5-1 plan. Open-market buy, his timing. Traded Oct 2, filed Oct 6.

[Paper Trail @papertrailalert]

Ryan Israel just bought ($PSUS), 256,613 shares ($9.6M). No 10b5-1 plan, straight discretionary buy. He's the CIO of Pershing Square buying his own shop's stock. When the CIO writes a $9.6M check on his own firm, that's conviction.

[Paper Trail @papertrailalert]

Warren Buffett just bought ($LEN), 2,418,637 shares ($192.6M). No 10b5-1 plan, straight discretionary buy as Lennar hit a 52-week low. Berkshire now owns ~12%, about $2.2B worth. Buying the dip at this size is conviction, not rebalancing.

[Paper Trail @papertrailalert]

@Stocksalute Funny timing on this: a Bradesco director bought $33.6M of BBD discretionarily in August, no 10b5-1 plan, filed today. Somebody was positioned before this rally. 🤔

[Paper Trail @papertrailalert]

Denise Aguiar Alvarez just bought ($BBD), 1,950,000 shares ($33.6M). No 10b5-1 plan, straight discretionary buy from a Bradesco director, filed over a month late. Directors don't wire $33M on a whim.

[Paper Trail @papertrailalert]

@InTheAssembly Name on the filing: Stephen Rusckowski. 25,000 shares on Sep 29, disclosed Oct 1, no 10b5-1 plan. All discretionary.

[Paper Trail @papertrailalert]

Stephen Rusckowski just bought ($ORCL), 25,000 shares for $3.5M, no 10b5-1 plan. Oracle directors don't usually buy on the open market. He has a view.

[Paper Trail @papertrailalert]

@MartinShkreli Filings say someone disagrees: Baker Bros bought ($KOD), about $157M across three Sep 28 Form 4s, all discretionary.

[Paper Trail @papertrailalert]

@DrJStrategy Crossing 10% changed the rules: every future ($LEN) buy now gets disclosed within 2 business days instead of quarterly. You'll see Berkshire's next add almost in real time.

[Paper Trail @papertrailalert]

Berkshire Hathaway (Buffett) just bought ($LEN), 660,410 shares for $53.9M, no 10b5-1 plan. Either Buffett sees the housing thaw coming, or he needs you to think the bottom is in.

[Paper Trail @papertrailalert]

GameStop ($GME) CEO Ryan Cohen just bought $10.6M of his own stock. 450,000 shares, no 10b5-1 plan, so he chose the timing himself. A CEO betting $10M on a meme stock is either conviction or theater, and with Cohen it's usually both.