Energy Transfer Leads Eight Retained Signals, $36.93M (2026)

The Aug. 17–24 screen retained 8 issuer-level signals totaling $36.93 million in gross insider purchases. Energy Transfer accounted for more than half of the total through two purchases by one director. Three larger-looking candidates were removed because the filings lined up with disclosed financings, while Pampa Energía remains a real Form 4 purchase signal with a material venue and currency caveat.

Screen window: Aug. 17 through Aug. 24, 2026 trade dates, using UTC-05 / Eastern time. The screen uses trade date rather than filing timestamp and applies the strict greater-than-$1 million threshold per insider, including that insider’s qualifying purchases aggregated within the week. Quote snapshots below were retrieved during production after the scheduled publication time; they are comparison marks, not synchronized Aug. 24 08:00 prices.

The screen at a glance

Issuer	Insider and role	Trade dates; shares and prices	Gross purchase	Cluster / repeat status	Quote snapshot and mark	Track-record read
Energy Transfer (ET)	Warren Kelcy L., director 1	Aug. 18: 352,032 at $21.27; Aug. 19: 647,968 at $21.26 1	$21,263,520.32	One insider; repeat buying	$21.20; -0.30% unrealized mark 2	No usable six- or twelve-month outcome series established
Pampa Energía (PAM)	Marcos Marcelo Mindlin, director and 10% owner 3	Aug. 18: 396,950 at $3.345; Aug. 19: 902,975 at $3.339, converted from ARS 3	$4,342,831.28	One insider; repeat buying	NYSE ADR quote $78.62; not comparable with the converted ordinary-share entry 4	No usable six- or twelve-month outcome series established
Alpha Metallurgical Resources (AMR)	Kenneth S. Courtis, director 5	Aug. 20: 15,000 across six price bands from $189.84 to $194.48 5	$2,902,551.54	One filing; six bands consolidated as one purchase	$210.01; +8.53% unrealized mark 6	No usable six- or twelve-month outcome series established
American Assets Trust (AAT)	Ernest S. Rady, executive chairman, director, and 10% owner 7 8	Aug. 17: 50,000 at $22.55; Aug. 18: 3,586 at $22.69; Aug. 19: 10,000 at $22.77; Aug. 21: 50,000 at $22.75 7 8	$2,574,066.34	One insider; four-date repeat buying	$22.83; +0.74% unrealized mark 9	No usable six- or twelve-month outcome series established
Bakkt (BKKT)	Michael Alfred, director 10	Aug. 18: 296,567 at $7.12 10	$2,111,557.04	One insider; single-date buy	$8.655; +21.56% unrealized mark 11	No usable six- or twelve-month outcome series established
i-80 Gold (IAUX)	Richard Scott Young, president and CEO and director 12	Aug. 18: 1,000,000 at $1.62 12	$1,620,000.00	One insider; single-date buy	$1.88; +16.05% unrealized mark 13	No usable six- or twelve-month outcome series established
Kura Oncology (KURA)	Troy Edward Wilson, president and CEO and director 14	Aug. 17: 100,000 at $11.12 14	$1,112,000.00	One insider; single-date buy	$11.58; +4.14% unrealized mark 15	Later-sale marks positive in the retrieved short-horizon sample; no six- or twelve-month test
Alaska Air Group (ALK)	Benito Minicucci, CEO and president and director 16	Aug. 20: 25,000 at $40.0604 16	$1,001,510.00	One insider; single-date buy	$41.838; +4.44% unrealized mark 17	No usable six- or twelve-month outcome series established

The gross total aggregates qualifying purchases at the issuer level; it is not a return measure. The mark compares the quote snapshot with the filing entry price and excludes any claim about realized gains, dividends, or causation.

1. Energy Transfer — the outlier by size

Buyer and transaction. Warren Kelcy L., a director of Energy Transfer, bought 352,032 common units at $21.27 on Aug. 18 and another 647,968 at $21.26 on Aug. 19. The two Form 4 rows total exactly 1,000,000 units and $21,263,520.32, with a weighted entry price of $21.263520. 1

This is repeat buying by one director, not a multi-insider cluster. The two consecutive dates make the weekly aggregation important: neither day needs to be treated as a separate issuer signal.

Mark and context. The production-time ET quote snapshot was $21.20, about 0.30% below the weighted entry. 2 Energy Transfer’s Aug. 4 second-quarter release reported $5.07 billion of adjusted EBITDA, up 31% year over year, raised 2026 adjusted EBITDA guidance to $18.8–$19.1 billion, and highlighted the Hugh Brinson Pipeline, the Nederland expansion, and other growth projects. 18 The release predates the purchases and does not establish that these projects caused the buying.

Track record. No usable six- or twelve-month outcome series for this insider’s prior purchases was established in the retrieved materials. That is an evidence limit, not a negative track record.

2. Pampa Energía — large repeat buying with a venue mismatch

Buyer and transaction. Marcos Marcelo Mindlin, a director and 10% owner of Pampa Energía, bought 396,950 common shares at a Form 4 price of $3.345 on Aug. 18 and 902,975 at $3.339 on Aug. 19. The filing’s footnotes say the prices were converted into U.S. dollars using ARS/USD rates of 1,495 and 1,497.24 on the respective trade dates. The combined total is 1,299,925 shares and $4,342,831.28, at a weighted converted entry of $3.340832. 3

This is repeat buying by one director/10% owner, not cluster buying. The filing supports the reported transactions, but it does not make them verified U.S.-exchange executions. Because the prices are converted ordinary-share values, the NYSE ADR quote is not directly comparable.

Mark and context. The production-time NYSE PAM ADR quote snapshot was $78.62, but this article assigns no percentage mark to it because the venue, security unit, and conversion basis do not match the reported entry. 4 Pampa’s Aug. 4 second-quarter release reported $746 million of sales, $415 million of adjusted EBITDA, $172 million of net income, 28% year-over-year growth in oil and gas production, and the ramp-up of Rincón de Aranda. 19 Those results are background disclosed before the trades, not a verified purchase catalyst.

Track record. No usable six- or twelve-month outcome series for Mindlin’s prior purchases was established in the retrieved materials. The correct interpretation is a large, repeated reported purchase with a meaningful security-and-currency qualification—not a clean ADR performance signal.

3. Alpha Metallurgical Resources — one filing, six price bands

Buyer and transaction. Kenneth S. Courtis, a director of Alpha Metallurgical Resources, reported six code-P price bands on Aug. 20: 333 shares at $189.84, 943 at $190.77, 1,151 at $192.09, 1,234 at $192.80, 5,976 at $193.68, and 5,363 at $194.48. Consolidated, the filing represents 15,000 shares for $2,902,551.54, at a weighted entry of $193.503436. 5

The six bands are one insider filing and one issuer-level signal, not six separate buys. No other AMR insider was retained in this screen, so this is not cluster buying.

Mark and context. The production-time AMR quote snapshot was $210.01, about 8.53% above the weighted entry. 6 Alpha’s July 27 preliminary second-quarter release reported a $12.3 million net loss, reduced 2026 metallurgical-coal shipment guidance, weak metallurgical-coal markets, lighter shipments, higher costs, and wind-related terminal damage. 20 The release predates the purchase and supplies operating context, not proof of a catalyst.

Track record. No usable six- or twelve-month outcome series for Courtis’s prior purchases was established in the retrieved materials. The positive mark is current and unrealized.

4. American Assets Trust — accumulation across four dates

Buyer and transaction. Ernest S. Rady, executive chairman, director, and 10% owner of American Assets Trust, bought 50,000 shares at $22.55 on Aug. 17, 3,586 at $22.69 on Aug. 18, 10,000 at $22.77 on Aug. 19, and 50,000 at $22.75 on Aug. 21. The weekly total is 113,586 shares and $2,574,066.34, at a weighted entry of $22.661828. 7 8

This is the clearest repeat-buy pattern by frequency, but it remains one insider’s accumulation rather than a multi-insider cluster. No checked 10b5-1-plan box was identified in the filings reviewed; that wording does not prove that no plan existed. 7 8

Mark and context. The production-time AAT quote snapshot was $22.83, about 0.74% above the weighted entry. 9 No usable near-window issuer catalyst was established in the retrieved materials. That absence should not be read as evidence that no catalyst existed; it means the retrieved record did not verify one.

Track record. No usable six- or twelve-month outcome series for Rady’s prior purchases was established in the retrieved materials. The relevant signal here is the size and persistence of the new accumulation, not a verified historical hit rate.

5. Bakkt — a director buy near a management transition

Buyer and transaction. Michael Alfred, a director of Bakkt, bought 296,567 Class A common shares at $7.12 on Aug. 18, for $2,111,557.04. 10 No other BKKT insider was retained, so this is a one-insider signal rather than cluster buying. The reviewed filing did not identify a private-placement or 10b5-1 classification, but that review is not proof that no such arrangement existed.

Mark and context. The production-time BKKT quote snapshot was $8.655, about 21.56% above the entry. 11 Bakkt announced Matt White as chief financial officer effective Aug. 17, while Karen Alexander transitioned to an advisor role effective Aug. 14. The announcement describes the management change but does not report the Aug. 18 purchase. 21

Track record. No usable six- or twelve-month outcome series for Alfred’s prior purchases was established in the retrieved materials. The 21.56% figure is an unrealized production-time mark, not evidence that the purchase caused the move.

6. i-80 Gold — CEO buying against a defined mine-development timeline

Buyer and transaction. Richard Scott Young, president and CEO, director, and the buyer reported by i-80 Gold, bought 1,000,000 common shares at $1.62 on Aug. 18, for $1,620,000.00. 12 No other IAUX insider was retained, so this is not a cluster.

Mark and context. The production-time IAUX quote snapshot was $1.88, about 16.05% above the entry. 13 i-80 Gold’s Aug. 10 second-quarter release said the company remained on track for full-year 2026 production guidance, that Granite Creek underground development was ahead of plan, and that first gold from Archimedes remained targeted for the fourth quarter of 2026. 22 The timeline is relevant context, but the release does not establish that it prompted the purchase.

Track record. No usable six- or twelve-month outcome series for Young’s prior purchases was established in the retrieved materials. The current mark is short-term and unrealized.

7. Kura Oncology — the only partial historical check

Buyer and transaction. Troy Edward Wilson, president and CEO and a director of Kura Oncology, bought 100,000 shares at $11.12 on Aug. 17, for $1,112,000.00. 14 No other KURA insider was retained, so this is a one-insider signal.

Mark and context. The production-time KURA quote snapshot was $11.58, about 4.14% above the entry. 15 Kura’s retrieved issuer announcement says the company would report second-quarter financial results on Aug. 12, but it did not provide the results. 23 No clinical or financial catalyst should be inferred from that notice alone.

Track record. The usable OpenInsider history retrieved for Wilson showed prior purchases of 50,000 shares at $6.06 on Aug. 12, 2025, and 50,000 at $8.20 on Sept. 8, 2025. Later sale marks at $8.94 and $11.18 were positive in that short-horizon sample, but they occurred roughly three weeks to three months later, not at six or twelve months. 24 Therefore, the available read is short-horizon later-sale marks positive; six- and twelve-month test not established, with only two prior purchase observations in the retrieved sample. That is too small and too short to support causation or a reliable hit rate.

8. Alaska Air Group — barely over the line

Buyer and transaction. Benito Minicucci, CEO and president and a director of Alaska Air Group, bought 25,000 shares at $40.0604 on Aug. 20, for $1,001,510.00. 16 The amount is only $1,510 above the screen’s strict threshold, so retaining the unrounded calculation matters. No other ALK insider was retained; this is not a cluster.

Mark and context. The production-time ALK quote snapshot was $41.838, about 4.44% above the entry. 17 The retrieved Alaska source was an impact-report page rather than a useful near-window financial or operating update, so no verified catalyst was established for this purchase. 25

Track record. No usable six- or twelve-month outcome series for Minicucci’s prior purchases was established in the retrieved materials. The small amount above the threshold and the lack of a verified near-window catalyst both argue for treating this as a screen item for diligence, not a conclusion.

Exclusions and classification notes

The clean pool is smaller than a raw Form 4 screen because a large dollar value does not by itself prove a discretionary open-market purchase.

Alibaba Group (BABA): Joseph C. Tsai reported 720,000 ordinary shares at $14.29, valued at $10,288,800, while CEO and director Wu Yongming reported 350,000 at $14.24, valued at $4,984,000. The filings used an HKD/USD conversion, and the transactions were ordinary-share purchases rather than verified U.S.-exchange ADR executions. 26 27 Alibaba announced a proposed HK$80 billion Hong Kong placing on Aug. 23 and priced it on Aug. 24 at HK$112.70 per ordinary share. The placing involves 710 million new ordinary shares and was expected to close Aug. 26. 28 29 The same-day financing backdrop and venue ambiguity make these rows unsuitable for the clean pool.
Global Water Resources (GWRS): Directors Jonathan L. Levine and Andrew M. Cohn reported 651,618 and 139,343 shares, respectively, at exactly $8.85 on Aug. 20. GWRS disclosed a private placement at that same $8.85 price for 1,129,944 common shares, including Levine Investments and a director. The matching price and financing disclosure make the two Form 4 rows financing-linked rather than clean conviction buys. 30 The filings also contained 800-share restricted-stock awards at $8.91, which were excluded independently.
Addentax Group (ATXG): Director and 10% owner Hong Zhiwang reported 218,750 shares at $4.80 on Aug. 18, worth $1,050,000. The filing mirror labels the transaction “open-market or private,” while Addentax had disclosed a Regulation S private placement at exactly $4.80. The unresolved venue and exact price match classify it as financing-linked for this screen. 31 32

The screen also removes option exercises, gifts, identifiable 10b5-1 auto-purchases, holder-only trades, out-of-window transactions, paired ADR conversions, and other rows whose structure does not establish discretionary buying. A Form 4 code-P label is a starting point for review, not conclusive proof of public-market execution.

Bottom line

Energy Transfer is the dominant dollar signal, but it is one director buying across two consecutive days. Pampa is also a large repeat purchase, yet its converted ordinary-share prices cannot be cleanly marked against the NYSE ADR. American Assets Trust supplies the most persistent buying pattern by date, while AMR, Bakkt, i-80 Gold, Kura, and Alaska Air add single-insider signals at very different business and evidence backdrops.

The production-time marks are positive for six of the seven retained names with comparable U.S.-market entries; ET is slightly below entry. Those marks are unrealized and unusually close to the screen date. Except for Kura’s limited short-horizon later-sale sample, no usable six- or twelve-month history was established here. The practical use of this list is to prioritize filings and company-specific diligence—not to treat a large purchase, a price move, or a small historical sample as a forecast.

OpenInsider history was not consistently retrievable for every retained ticker in this run, so the track-record statements are deliberately conservative. The underlying transaction screen relies on SEC Form 4 filings, with issuer releases used for context and classification checks.