The most significant insider transaction of the day was disclosed in a 13G by Jennison Associates LLC. The investment company reported an initial 10.40% stake in Phathom Pharmaceuticals $PHAT.

Jennison manages approximately $194 billion in assets across diverse portfolios.

They invest in high-growth areas like biotechnology. And when they make a big splash like this, it’s worth paying attention to.

As you can see, PHAT is resolving higher from a bearish-to-bullish reversal pattern:

Today’s largest insider activity comes from none other than Control Empresarial de Capitales SA, betting strongly on PB Energy Inc $PBF with a hefty $17 million purchase, according to its latest Form 4 filing.

This marks Control Empresarial’s fifth buy in the past month, suggesting a powerful vote of confidence from Mexican billionaire Carlos Slim’s investment firm.

With this latest addition, Control Empresarial’s ownership stake jumps from 21.5% to 22.5%, underscoring its commitment to the energy sector.

Here’s The Hot Corner, with data from November 1, 2024:

Uncle Warren strikes again!

In a fresh Form 4 filing, Berkshire Hathaway reveals a substantial new purchase in Sirius XM Holdings Inc. $SIRI, scooping up a cool $60,692,844 in shares.

This marks Berkshire’s third buy in recent months, solidifying Buffett’s position with a whopping 112,504,729 shares, an ownership stake now amounting to 33% of Sirius XM’s outstanding shares.

Here’s The Hot Corner, with data from October 31, 2024:

In a standout insider transaction, Control Empresarial de Capitales S.A., the investment powerhouse owned by Carlos Slim, disclosed another hefty purchase of PBF Energy Inc $PBF. 

According to a fresh Form 4 filing, Slim’s firm shelled out an impressive $11,657,328 to boost its stake to more than 21.50%.

Even though PBF doesn't look good from a technical perspective, insider moves from major players can reveal a lot.

So, it makes sense to keep an eye on PBF, waiting patiently for the trend to reverse in our favor.

Here’s The Hot Corner, with data from October 30, 2024:

GIC Private Ltd's recent 13G filing reveals a significant increase in its stake in New Oriental Education & Technology Group $EDU, from 5.03% to 7.47%.

Singapore's sovereign wealth fund focuses on a long-term, diversified investment strategy across sectors like technology, financials, real estate, and healthcare.

Here’s The Hot Corner, with data from October 29, 2024:

Liberty 77 Fund is back on the hunt, snatching up another $3.1 million in Lions Gate Entertainment Corp $LGF shares, according to its latest Form 4 filing.

This is the fifth purchase Liberty 77 has made this month, totaling $14,627,477.

When the big guns step in like this, you know there’s more than just a casual interest.

Here’s The Hot Corner, with data from October 28, 2024:

Today’s standout insider activity is a Schedule 13G filing from James Flynn's Deerfield Management. The firm just reported a new position in Embecta Corp $EMBC with a 5.33% stake.

Known for its sharp eye on healthcare and biotech, Deerfield goes all in, building a high-conviction, focused portfolio centered on medical innovation. 

The top holdings include Nuvalent $NUVL, Insmed $INSM, and Viatris $VTRS.

In other insider news, Control Empresarial de Capitales SA, led by Mexican billionaire Carlos Slim, reported the acquisition of 487,100 shares of PBF Energy $PBF.

Slim now owns 24,951,498 shares of PBF, giving him a 20.73% stake in the company.

Here’s The Hot Corner, with data from October 25, 2024:

The most significant insider buy on today’s list is a $913,648 purchase of Ibotta Inc $IBTA by D.E. Shaw & Company, a data-driven investment giant with $120.5 billion in assets under management.

Among its top holdings are market winners like Microsoft, Apple, and Nvidia.

The inclusion of Ibotta signals strong growth potential and suggests the company could be on the verge of something big.

Here’s The Hot Corner, with data from October 24, 2024:

FB Financial Corporation $FBK is center stage today, as former director and top individual shareholder James Ayers doubled down on his commitment with a hefty $267,170 purchase, according to a new Form 4 filing.

This move brings Ayers' direct ownership to a whopping 10.9 million shares, or about 23% of outstanding shares, signaling his long-term belief in the company.

Here’s The Hot Corner, with data from October 22, 2024:

HMI Capital Management just made a bold move, raising its stake in nCino Inc $NCNO and making the Wilmington, North Carolina-based fintech outfit its No. 2 holding.

According to today’s 13D filing, the investment firm now holds 7,873,778 shares of NCNO, boosting its ownership from 6.40% to 6.80%.

HMI Capital primarily targets growth sectors like technology, focusing on companies with scalable, long-term growth potential.

Among its top holdings are Roblox $RBLX, Coupang $CPNG, GitLab $GTLB, and Toast $TOST.

With these disruptive players in its portfolio, HMI is betting big on innovation and staying at the forefront of the tech revolution.

Here’s The Hot Corner, with data from October 21, 2024:

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to the Hot Corner Insider Weekly Report!

As you know, we spend a lot of time tracking insider activity to come up with this universe.

But that’s only half the battle!

Once we identify the names insiders are targeting, we overlay our expert technical analysis to see if the market agrees with their actions.

While we track some of the most powerful and well-informed market participants… we aren’t just going to follow them blindly into their trades.

We want to see that the insider activity is confirmed by the trend before we get involved. 

When we can check both boxes, we identify asymmetric risk/reward setups and then jump in and ride these trends higher alongside the smart money.

Warren Buffett’s Berkshire Hathaway just turned up the volume on its stake in Sirius XM Holdings $SIRI with the purchase of an additional 1,557,702 shares, valued at a cool $42 million.

This move nudges Berkshire’s ownership stake from 32% to 32.5%, reaffirming Buffett’s confidence in the satellite radio company.

Here’s The Hot Corner, with data from October 18, 2024: