Malone Leads $65M Insider-Buy Week

The June 22–29 screen produced seven >$1M code-P insider purchase signals totaling about $65M, but one name drove most of the tape: John Malone's Liberty Latin America buys accounted for roughly $50.8M across LILA and LILAK shares. The cleaner investment read is narrower than the dollar total suggests. Mission Produce has the best repeat timing profile; TXO is a continuing founder accumulation; Adobe and Prospect Capital are large but fight prior track-record problems; Pampa and AMS require extra caution because the filings sit against offsetting sales or transfer mechanics. 1 2

The coverage window runs from June 22 through the June 29 weekly screen cutoff. The prior publication landed at 8:22 a.m. Eastern, so this issue covers a slightly shorter-than-seven-day interval rather than a clean Monday-to-Monday week.

John Malone, Director Emeritus of Liberty Latin America, bought 2,657,931 LILA Class A shares at a weighted average of $10.51 on June 22 for $27.93M, plus additional same-day LILA and LILAK purchases at $4.98 and a June 23 LILAK purchase at $20.36; the combined Malone activity was about $50.8M. 1 2

The cluster context improves the signal but does not make it simple. Liberty Latin America CEO Balan Nair bought $1.00M on June 18, Director Paddick bought $488K on June 18, and Director Bracken bought $201K on June 23; only Malone's June 22–23 purchases clear the strict >$1M in-window test. 1 The company also distributed one 9% Series A cumulative perpetual redeemable preference share for every 10 common shares, with a June 16 distribution date and June 17 ex-dividend date, so the apparent common-share price move around Malone's buy has mechanical preferred-dividend effects. 11

Track record: unproven for this specific security. Malone's May 22 LILA activity was a same-day, same-price, same-quantity sale and purchase of 12.4M shares at $8.63; that pattern is more consistent with an internal entity transfer than a clean market signal. Before this week, there was no genuine LILA open-market purchase in the two-year window. 3 The dollar size makes LILA the headline, but readers should evaluate it as a complex Liberty special situation rather than a plain common-stock insider buy.

Bruce C. Taylor, a director at Mission Produce, bought 100,000 AVO shares at $11.28 on June 22 for $1.13M, extending a June campaign that totaled about $9.75M across four purchases. 1 4 Director Jay Pack also bought in June, including 37,450 shares around $11 on June 11 and 188,550 shares around $11.14 on June 15. 12

Taylor's record is the strongest in this week's set because he previously sold through an affiliated entity at about $13.18 in September 2024 and is now buying back near $11.23, roughly 15% lower. 4 Pack shows a similar pattern: he sold AVO at $13.06–$14.70 in late 2024 and bought back around $11.03–$11.34 in June. 4

The company context is mixed but investable. Mission Produce reported Q2 FY2026 sales down 24% while adjusted EBITDA rose 5%, and the company is integrating the Calavo Growers acquisition after a period of lower avocado prices and higher volume. 13

Bob R. Simpson, founder, director, and 10% owner of TXO Partners, bought 100,000 common units at $12.61 on June 22 for $1.26M. 1 He had already bought 600,000 units on June 2–3 at $13.41–$13.91 for $8.23M, so his June total is about $9.5M. 14

The track record is mixed. Simpson has bought eight times in the two-year window for about $65.4M, including a $33.75M purchase at $15.00 in May 2025 and repeated 2026 buys between $12.61 and $13.72. 5 The counter-signal is that co-CEOs Brent Clum and Gary Simpson have sold at $12.07–$12.38 in 2026, below or near Bob Simpson's recent purchase prices. 5

Marcos Marcelo Mindlin, director and 10% owner of Pampa Energía, bought 1,122,778 shares at a weighted average of $3.36 on June 24–25 for $3.77M. 1 15

The buy should not be read alone. Mindlin also bought $926K in May, but he sold about $27.8M in 2026 across several transactions, leaving 2026 selling roughly 5.9 times larger than his purchases. 7 Damian Miguel Mindlin sold 555,000 shares on June 3 for about $1.97M at roughly $3.55, which sits above Marcos Mindlin's June purchase price. 16

The insider signal remains mixed because the same insider's net 2026 behavior is still sale-heavy.

John F. Barry, CEO and 10% owner of Prospect Capital, bought 1,000,000 PSEC shares at $2.25 on June 22 for $2.25M and 1,067,648 shares at $2.27 on June 23 for $2.43M, for a two-day total of $4.67M. 1

The conviction is real, but the track record is negative. Barry has made more than 30 purchases over two years, with purchase prices falling from about $4.30–$4.32 in March 2025 to $2.25–$2.32 in May–June 2026. 6 PSEC is a business development company trading at a steep net-asset-value discount; Seeking Alpha put the discount at 61.82% and the dividend yield at 18.2%, while warning that downside risk could outweigh the headline yield. 17 The BDC structure makes this less comparable to an operating-company CEO buying common stock after a selloff.

David A. Ricks, an Adobe director and the chair and CEO of Eli Lilly, bought 10,000 Adobe shares at $194.51 on June 25 for $1.95M. 1 18 His position nearly doubled to 20,430 shares. 1

Adobe reported Q2 FY2026 EPS of $5.08 versus an expected $4.97, Firefly ARR above $250M, and a CEO transition plan in which Shantanu Narayen will step down after a successor is named. 19 Ricks's prior Adobe buy was 2,250 shares at $443.98 in January 2025, now down roughly 56% versus the June 25 entry price. 8 The stronger caveat is the internal sell pattern: CEO Narayen sold $18.3M in April 2026 and $13M in September 2024, while CFO Daniel Durn, CSO Scott Belsky, and Director Amy Banse also sold during the two-year lookback. 8

Raymond C. Stachowiak, executive chair and 10% owner of American Shared Hospital Services, reported a June 22 purchase of 586,468 shares at $2.28 for $1.34M. 1 The OpenInsider two-year screen shows no other AMS insider transactions, so there is no track record to test. 9

This is the weakest member of the qualifier list. StockTitan's Form 4 summary shows TIGH II selling the same 586,468 shares to RCS/TIG Holdings, both tied to the same beneficial owner, which makes the transaction look like an affiliated-entity transfer rather than a pure market purchase. 10 Treat AMS as a filing watchlist item, not a clean open-market conviction buy.

KARD and DPC were the two biggest noise items. Kardigan insiders reported $90M of code-P purchases at exactly $16.00 after Kardigan priced its June 18 IPO at $16.00; the buyers were pre-IPO stakeholders or directors participating at the offering price, so the pattern fits IPO allocation rather than open-market conviction. 1 20 Doncasters insiders reported about $74.8M of code-P purchases at exactly $33.00 one day after DPC priced its IPO at $33.00, including $36.8M by Director Charles Dirkson and $14.4M by CEO Michael Quinn; that also matches IPO participation. 1 21

Other exclusions were smaller but still relevant. TAKAX was a $5.0M purchase in Carlyle Tactical Private Credit Fund, a closed-end interval fund, with a filing note that the holder was no longer subject to Section 16. 1 COE's $4.55M CEO purchase had a June 16 trade date, six days before the June 22 window start, so it remains an edge-window item rather than a current-week qualifier. 22 FOA's $2.15M purchase had a March 13 trade date, far outside the window. 1 BX's $20.0M Finviz-only item involved Blackstone Private Multi-Asset buying Blackstone shares, which fits a related-party fund allocation rather than an independent insider buy. 23

The standing tracker list stayed quiet. All 27 tracked entities showed zero new in-window insider purchases in the June 19–29 trade-date check, and the late-filing gap from June 19–22 produced no new Form 4s. 24 25 26 27

The closest edge-window trades were COE CEO Jack Huang's $4.55M June 16 buy filed June 26, KNOP Director Trygve Seglem's $25M June 15 preferred-unit block, SAGT CEO Ng Chen Lok's $1.56M June 18 buy, and American Assets Trust Executive Chair Ernest Rady's sub-$1M June 15 purchase. 22 28 29 30 The pause now matters because prior high-conviction campaigns such as SMMT, HOOD, NCLH, HLNE, FBIN, COAG, ARTV, AUPH, and TXO did not broadly resume in this window. 24 25 26 5

For a watchlist, the first cut is simple. LILA deserves attention because Malone's dollar commitment is unusually large, but the preferred-share distribution makes the price read non-standard. AVO has the cleanest insider timing evidence because Taylor and Pack previously sold higher and are buying lower. TXO stays on the serial-accumulator list, though co-CEO selling keeps the grade mixed. PSEC and ADBE are cautionary buys: both are large, but both sit against poor prior timing or heavy selling by other insiders. PAM is not a clean confidence signal until the net-seller pattern changes. AMS should remain below the conviction line unless a later filing clarifies that the transfer mechanics were more market-like than they appear.