openinsider.com
OpenInsider: All insider purchases >$1M, May 18–25 2026
Full SEC Form 4 screener for open-market purchases exceeding $1M filed during the May 18–25 window. Sortable by value, date, and insider type.
Insider Buying Signals, May 18–25, 2026
Eleven US-listed companies logged qualifying open-market insider purchases (>$1M) totaling roughly $85M during May 18–25, 2026. Headline signals: Casdin Capital's $35.5M three-day accumulation in GeneDx (WGS), Trian's Edward Garden making his first-ever $15.7M purchase of Fortune Brands Innovations (FBIN) at 52-week lows, and Cascade Investment (Bill Gates's vehicle) adding another $12.95M to Republic Services (RSG).
Eleven companies logged qualifying open-market insider purchases (>$1M) during the May 18–25 window, with a combined total just above $85M. The week's character is activist and serial-accumulator dominated: Casdin Capital extended its GeneDx position by $35.5M across three days, Trian's Edward Garden made his first-ever FBIN purchase at a 52-week low, and Cascade Investment (Bill Gates's vehicle) added $12.95M to an RSG stake already built up by $88.9M the prior week. The other eight transactions range from a Cosan (CSAN) CEO adding $12.55M to his own company's stock, to a handful of speculative-tier signals — a Tether-affiliated fund accumulating in an obscure NYSE stock, and two biotech/fintech names where insiders are buying into paper losses exceeding 50%.
This week at a glance
| Insider | Title | Ticker | Amount | Date(s) | Signal tier |
|---|---|---|---|---|---|
| Casdin Capital | Director / 10% owner | WGS | $35.5M (3 trades) | May 18–20 | Activist accumulation |
| Edward P. Garden | Director (Trian CIO) | FBIN | $15.7M (2 trades) | May 19–20 | Activist debut |
| Cascade Investment | 10% owner (Gates vehicle) | RSG | $12.95M | May 18 | Institutional continuation |
| Martins Marcelo Eduardo | CEO | CSAN | $12.55M | May 19 | CEO serial accumulation |
| Ernest S. Rady | Executive Chairman / Founder | AAT | $1.7M ($13.8M over 3 months) | May 19–22 | Founder serial accumulation |
| Tether Global Investments | 10% owner | GOLD | $5.7M | May 19 | Unusual buyer — see caveats |
| Aqua Capital | 10% owner | ENR | $2.0M | May 20 | Institutional continuation |
| Bobbili Raja | Director / 10% owner | LOGC | $1.3M | May 19 | Distressed-company accumulation |
| Akkaraju Srinivas | Director / 10% owner | KLRS | $1.2M | May 20 | Doubled down into 53% paper loss |
| Haveli Investments | Director / 10% owner | BLND | $1.2M | May 19 | 15-month accumulation, deep in red |
| Jeffery Reuben III | Director | DRS | $1.1M | May 19 | First-ever purchase, $12B defense co. |
All transactions are SEC Form 4 code-P open-market purchases. Data: OpenInsider and Finviz. 1
リンクプレビューを読み込んでいます…
Activist and high-conviction buys
WGS — GeneDx Holdings: Casdin Capital adds $35.5M as two-week total approaches $100M
Casdin Capital (a life-sciences-focused investment firm serving as a GeneDx director and 10% owner) bought GeneDx Holdings (NASDAQ: WGS) across three consecutive days: 500,000 shares at $42.92 on May 18 ($21.46M), 185,000 shares at $42.60 on May 19 ($7.88M), and 140,000 shares at $43.81 on May 20 ($6.13M) — a combined $35.47M. 1 2 Casdin's position rose from 3,380,072 to 3,880,072 shares (+15%).
The context: the prior week, activist director Keith Meister (Corvex Management) bought $60.6M of WGS (1,556,420 shares at $38.84–$39.19). 3 Two separate institutional investors therefore put roughly $96M into WGS within a 10-day span — and are doing so into a stock that fell 72% from its 52-week high of $170.87, primarily after GeneDx's Q1 2026 results (May 4) came in below consensus and full-year testing-volume guidance was cut by roughly 50%.
Track record: Casdin's prior recorded purchases in WGS were in May–June 2024 at $20.15–$21.21. The stock has roughly doubled from those levels, meaning Casdin's earlier entries preceded a significant appreciation. Meister's May 2025 purchases at $56–$60 are currently underwater by about 20%, and his March 2026 purchase at $79.40 is underwater by about 40%. The current week's buys at $42–$44 sit between those two prior cost points — Meister and Casdin are both adding rather than cutting after consecutive losses on previous tranches.
The coordination status between Casdin and Meister (whether they are acting as a group under SEC Rule 13d-5) has not been confirmed in available SEC EDGAR filings. Each has filed Form 4s independently.
リンクプレビューを読み込んでいます…
FBIN — Fortune Brands Innovations: Trian's Garden makes $15.7M debut at 52-week low
Edward P. Garden — Chief Investment Officer and co-founder of Trian Fund Management — bought Fortune Brands Innovations (NYSE: FBIN) in two tranches: 408,900 shares at $33.40 on May 19 ($13.66M) and 57,400 shares at $34.89 on May 20 ($2.00M), totaling $15.66M. 4 This is Garden's first recorded Form 4 open-market purchase in FBIN — OpenInsider's two-year lookback shows no prior buying activity from Garden.
Fortune Brands Innovations (market cap ~$4.5B) is a home products company (Moen faucets, Master Lock, Fiberon decking). FBIN's stock has declined roughly 25% over the past year, from around $50 to the current $37.65, against a backdrop the company itself characterized on its Q1 2026 earnings call as near-term earnings softness and leadership uncertainty. 5 Trian Fund Management (co-founded by Nelson Peltz) is one of the best-known activist funds; its standard approach involves taking a board seat and pushing for operational or strategic change.
Track record: No prior Form 4 purchases from Garden at FBIN to assess. The debut-purchase-at-52-week-low pattern is the classic activist entry signal — the bet is on future restructuring value rather than a read on near-term earnings. Post-purchase price as of publication: ~$37.65 (+12.7% from the first tranche, +7.9% from the second). 2
リンクプレビューを読み込んでいます…
RSG — Republic Services: Cascade/Gates adds $12.95M, week two of a $100M+ campaign
Cascade Investment (Bill Gates's investment vehicle, a 10% owner of Republic Services) purchased approximately 60,700 shares of Republic Services (NYSE: RSG) at ~$213.31 on May 18, totaling roughly $12.95M. 2 This transaction appeared in Finviz's insider trading data but was absent from OpenInsider's pre-rendered pages — readers should treat the per-share price and share count as approximate figures from a secondary source, pending SEC EDGAR confirmation.
The prior week, Cascade bought $88.9M of RSG across May 14–15 ($63.86M + $25.03M). The combined two-week total is roughly $101.9M. Cascade is a long-term holder of RSG (Republic Services is a $64B waste management and environmental services company operating throughout the US) 6 and has been accumulating RSG for years; this is a continuation of an institutional position rather than a new conviction signal from an operating executive. As with any 10% owner who holds no operating role, the "personal-compensation-at-stake" dimension of an executive's buy is absent.
CSAN — Cosan S.A.: CEO follows $23.8M April buy with another $12.55M
Martins Marcelo Eduardo, CEO of Cosan S.A. (NYSE: CSAN), purchased approximately 2,441,528 shares at ~$5.14 on May 19, totaling roughly $12.55M. 2 The transaction appeared only in Finviz; OpenInsider's screener shows Martins's April 10 purchase ($23.84M) but not this May 19 filing. The per-share price and share count should be treated as Finviz-sourced approximations pending a direct SEC EDGAR verification.
Cosan (market cap ~$2.6B) is a Brazilian multi-sector conglomerate listed on NYSE with operations in energy distribution, logistics, sugar and ethanol, and lubricants (Raízen, Compass, Rumo, and Moove). The CEO has now bought roughly $36.4M of CSAN stock over six weeks: $23.84M on April 10, and $12.55M on May 19 — both in the $5.00–$5.20 range, suggesting a deliberate cost-averaging strategy near what he apparently views as a floor.
Serial accumulation signals
AAT — American Assets Trust: founder and chairman hits 692K shares over 3 months
Ernest S. Rady — founder and Executive Chairman of American Assets Trust (NYSE: AAT) — bought 78,855 shares at $21.56 on May 19 ($1.70M) and 10,000 shares at $22.67 on May 22 ($226.7K), bringing his three-month accumulation total to approximately 692,000 shares (~$13.8M) invested at prices between $18.81 and $22.67. 7
The full buying sequence since February 2026:
| Date | Shares | Price | Amount |
|---|---|---|---|
| Feb 19 | 159,900 | $18.81 | $3.01M |
| Feb 24 | 82,400 | $19.42 | $1.60M |
| Feb 26 | 79,400 + 10,700 | $19.42 / $19.78 | $1.75M |
| May 14 | 170,600 | $21.04 | $3.59M |
| May 18 | 100,500 | $20.94 | $2.10M |
| May 19 | 78,855 | $21.56 | $1.70M |
| May 21–22 | 10,000 | $22.67 | $226K |
AAT (market cap ~$1.4B) owns and operates office, retail, multifamily, and mixed-use properties predominantly on the West Coast. Q1 2026 FFO (funds from operations — the standard earnings metric for REITs) came in line with expectations; management reaffirmed full-year 2026 FFO guidance on April 28. 8
Track record: Rady's prior-period buying stretches back years, consistently across $18–$37. He has no recorded Form 4 sales — this is an indefinite accumulation posture, not a tactical trade. A company founder buying his own stock methodically over three months at increasing frequency and cost is among the stronger structural signals in this asset class. Current price ~$22.78 (+5.7% from the May 19 purchase). 7
リンクプレビューを読み込んでいます…
ENR — Energizer Holdings: Aqua Capital continues buying as 2025 cluster context strengthens the signal
Aqua Capital (a 10% owner of Energizer Holdings, NYSE: ENR) purchased 124,989 shares at $16.40 on May 20 ($2.05M), bringing its ENR position to 7,150,204 shares. 9 Aqua has been systematically buying ENR since March 2026, at progressively lower prices: $22.47 → $17.47 → $18.90 → $18.85 → $16.40. The May 20 purchase at $16.40 is the lowest price in the sequence, extending a clear step-down accumulation pattern.
What gives the Aqua buying additional context: in May 2025, eight different ENR insiders — including then-incoming CEO Mulligan (first-ever purchase), COO Lavigne, and founder Vitale — filed Form 4 buys in the $21–$24 range. That multi-executive cluster last year, combined with Aqua's continued buying now at $16 (roughly 25% below where those executives bought), creates a layered signal. Current price $18.18 (+10.9% from the May 20 purchase). ENR's market cap is approximately $1.24B; the stock is down 20.6% over the past year. 9
Speculative-tier signals (read with caveats)
The following five transactions are all confirmed open-market purchases (Form 4 code P, non-round prices), but carry structural caveats that lower the signal quality for typical value-focused readers.
GOLD — Gold.com Inc.: Tether-linked fund adds $5.7M in unusual open-market stake
Tether Global Investments Fund, S.I.C.A.F., S.A. (a 10% owner of Gold.com Inc.) purchased 141,464 shares at $40.43 on May 19, totaling $5.72M. 10
Critical caveat: The NYSE ticker GOLD refers to Gold.com Inc. (market cap ~$1.24B), not Barrick Gold Corporation — Yahoo Finance and Finviz both confirm the mapping. Gold.com Inc.'s business description was not confirmed through available searches. The buyer, Tether Global Investments Fund, is affiliated with Tether Holdings — the issuer of the USDT stablecoin — a highly unusual category of buyer for a publicly-listed equity. 11 Tether's prior purchase was $23.6M on May 7 at $44.50 (currently at a modest paper loss at $43.40). The motivation behind a crypto-affiliated institution accumulating an obscure NYSE-listed company is unclear from available public information. Readers should verify the company's business and Tether's disclosed rationale before treating this as a conventional insider-conviction signal.
LOGC — ContextLogic Holdings: director continues building in former Wish.com parent
Bobbili Raja (a director and 10% owner of ContextLogic Holdings, OTCQB: LOGC) purchased 150,000 shares at $8.74 on May 19 ($1.31M). 12 Raja has accumulated 2,329,794 shares since February 2026, with purchases at $7.00 (February 26, ~1.76M shares), $7.91 (March 11), $8.24 (March 16), $8.60 (March 19), and now $8.74. On February 26, David Abrams / Abrams Capital Management also bought 1,758,794 shares at $7.00 — the same day and price as Raja's large tranche, a coordinated entry.
ContextLogic is the holding company of the restructured Wish.com marketplace. It reported Q1 2026 earnings on May 22. The stock is up roughly 22% from the February $7 entry, though the current price ($8.55) sits below Raja's most recent cost. This is a distressed-company turnaround bet at a company with a troubled public history; position sizing and risk tolerance should reflect that. 12
KLRS — Kalaris Therapeutics: director doubles down with 53% paper loss on prior tranche
Akkaraju Srinivas (a director and 10% owner of Kalaris Therapeutics, NASDAQ: KLRS) bought 244,300 shares at $4.83 on May 20 ($1.18M), bringing his position to 12,915,520 shares. 13 His prior purchase was February 17, 2026: 479,847 shares at $10.42 ($5.0M). That tranche is currently down roughly 53%. The new purchase is at $4.83 — a confirmed open-market transaction, not a PIPE.
Wedbush initiated coverage of KLRS with an Outperform rating on May 14, six days before this purchase. 13 14 Kalaris Therapeutics (market cap ~$107M) is an early-stage ophthalmology company. A director adding $1.2M in a micro-cap biotech that has already halved his prior position means the conviction is real, but so is the risk. Current price $4.92 (+1.9% from the May 20 purchase).
BLND — Blend Labs: Haveli Investments hits 15.2M shares, still 52% in the red on early entries
Haveli Investments (a director and 10% owner of Blend Labs, NYSE: BLND) purchased 777,178 shares at $1.49 on May 19 ($1.16M), bringing its total position to 15,235,560 shares. 15 The 15-month accumulation record is notable in its persistence:
- March–August 2025: ~4.2M shares at ~$2.99–$3.09
- November 2025: ~3.9M shares at $3.02–$3.06
- December 2025: ~1.3M shares at $3.11
- May 2026 (3 tranches): ~4.3M shares at $1.37–$1.49
Haveli's 2025 purchases are deeply underwater — those entries averaged roughly $3.03 vs. the current $1.47, an unrealized loss on those tranches of about 52%. The May 2026 tranches at $1.37–$1.49 improve the blended cost basis meaningfully. Blend Labs (a digital mortgage platform with a market cap of ~$356M) reported Q1 2026 results that came in above expectations; the company said its Autopilot product will shift to a paid tier in late June 2026 and laid out a projected 10–15% incremental revenue growth path through 2027. 16 The annual stock decline sits at 57.8%. Current price $1.47 (-1.3% from the May 19 purchase).
DRS — Leonardo DRS: director's first-ever purchase in a $12B defense contractor
Jeffery Reuben III, a director of Leonardo DRS (NASDAQ: DRS), purchased 25,000 shares at $42.77 on May 19 ($1.07M). 17 This is his first recorded Form 4 purchase; his prior holdings were zero. Leonardo DRS is the US defense electronics and sensor systems subsidiary of Italy's Leonardo S.p.A., with a market cap of approximately $12B. 18
At $1.07M against an $11.98B market cap, the purchase represents about 0.009% of the company's value — the smallest relative-size signal of the week. The absolute dollar amount clears the $1M threshold but offers limited incremental conviction evidence. Reuben's background and board tenure at DRS could not be confirmed through available sources. Current price $44.92 (+5.0% since purchase). 17
No qualifying multi-insider cluster this week
Among all companies with insider activity during May 18–25, OpenInsider data identified 14 companies where two or more insiders filed purchases in the same window. 1 None of those clusters reached the >$1M combined threshold in the qualifying analysis — the largest was Similarweb (SMWB), where CEO, one director, and another director bought a combined ~$893K. Other clusters at Crescent Capital BDC (CCAP, ~$1.1M combined but spread thin across very small executive purchases), Boston Scientific (BSX), and Norwegian Cruise Line (NCLH) were all sub-threshold on individual transaction size when examined closely.
For readers who weight cluster buys most heavily, the cleaner cluster signals this week are in that sub-threshold tier rather than among the 11 qualifiers above.
Methodology note
Two transactions in this week's list — RSG/Cascade ($12.95M) and CSAN/Martins ($12.55M) — appeared in Finviz's insider trading data but were absent from OpenInsider's pre-rendered pages, likely due to JavaScript-dependent rendering limiting automated data access. Per-share prices and share counts for those two transactions should be treated as approximations from a secondary source. 1 2 All other transactions were verified in OpenInsider. The 10b5-1 plan status of individual transactions could not be independently confirmed for most entries in this cycle; readers tracking signals in contexts where pre-scheduled trading plans are common should verify plan status directly in the SEC EDGAR Form 4 XML before drawing conclusions.
Cover image: AI-generated illustration.
参考ソース
- 1OpenInsider: Insider Purchases Screener May 18–25 2026
- 2Finviz: Insider Trading — Last 7 Days Sorted by Value
- 3OpenInsider: WGS Screener — 2-year history
- 4OpenInsider: FBIN Screener — 2-year history
- 5Bing News: FBIN May 2026
- 6OpenInsider: RSG Screener — 2-year history
- 7OpenInsider: AAT Screener — 2-year history
- 8Bing News: AAT Q1 2026 earnings
- 9OpenInsider: ENR Screener — 2-year history
- 10OpenInsider: GOLD Screener — 2-year history
- 11Yahoo Finance: GOLD chart — confirms Gold.com Inc.
- 12OpenInsider: LOGC Screener — 2-year history
- 13OpenInsider: KLRS Screener — 2-year history
- 14Finviz: KLRS quote
- 15OpenInsider: BLND Screener — 2-year history
- 16Bing News: BLND Q1 2026 results
- 17OpenInsider: DRS Screener — 2-year history
- 18Finviz: DRS market cap
このコンテンツについて、さらに観点や背景を補足しましょう。