Berkshire buys $212 million of Lennar; Oasis takes on Vail Resorts
A filing-by-filing guide to this week's executed buying and selling, a debt-for-equity exchange, two proxy slates and the ownership maps whose measurement dates run from September 8 to September 15.
The disclosure window runs from September 15, 2026 at 8:00 a.m. through September 22, 2026 at 8:00 a.m. (UTC-05:00). Every filing below became publicly available inside that window. Each entry keeps two dates apart: the availability date says when the market could first read the disclosure, and the underlying date says when the purchase, sale, or ownership measurement actually happened.
What separates a signal worth following from background is the kind of evidence a filing carries. An executed trade at a price anyone could have paid is the strongest record a filing can hold, and it comes with both a share count and a dollar figure. A position disclosed without a transaction table says only who holds what, on a stated date. A stake assembled through a debt exchange, a private placement, or a transfer within one family carries a price the parties agreed between themselves.
Quick scan
| Ticker and holder | Filing available / underlying date | Disclosed change | Remaining stake or structure | Follow-up question |
|---|---|---|---|---|
| LEN — Berkshire Hathaway | Sep. 21 / Sep. 17–21 | Bought 2,743,529 shares at a weighted average of $77.4168, about $212 million | 24,247,326 shares | Does the buying carry into October? 1 |
| GME — Ryan Cohen | Sep. 21 / Sep. 21 | Bought 1,150,680 shares at a weighted average of $22.9375, about $26.4 million | 40,498,522 shares; 44,233,306 including 3,734,784 warrants, 8.7% | Does he keep adding? 23 |
| GRAB — Anthony Tan | Sep. 21 / Sep. 21 | Bought 10,350,000 Class A shares at $2.8866, about $29.9 million | 10,778,498 shares | Does the chief executive keep buying at this level? 4 |
| GPI — Conifer Management | Sep. 21 / Sep. 17–18 | Bought 65,650 shares with weighted averages from $247.17 to $269.89, about $16.9 million | 1,512,290 shares | Did the buying continue after the price fell to $247? 5 |
| CRBG — Nippon Life Insurance | Sep. 16–21 / Sep. 14–17 | Bought 1,002,415 shares on four consecutive trading days at $34.86 to $35.20, about $35.1 million | 123,475,852 shares | Does the insurer keep adding at $35? 6789 |
| BORR — Tor Olav Troim | Sep. 17 / Sep. 16 | Bought 1,000,000 shares at $4.2995, about $4.3 million | 30,385,941 shares | A fourth purchase at this price? 10 |
| ENHA — Apeiron Investment Group | Sep. 21 / Sep. 17 | Bought 6,080,047 Class A shares at $1.15, about $7.0 million | 43,343,818 shares | How far does the subscription go? 11 |
| LNBIX — Lincoln Financial Investments | Sep. 21 / Sep. 17 | Bought 2,460,630 Class I shares at $10.16, exactly $25 million | 27,950,485 shares | Was the $25 million a fixed subscription amount? 12 |
| MTN — Oasis Management | Sep. 16 / Sep. 10 | Schedule 13D; the group reports 2,200,366 shares, 6.2%, plus 477,714 shares of comparable economic exposure, and nominates four directors | 6.2% of common stock | Will Vail Resorts settle with the fund ahead of its annual meeting? 13 |
| NFE — Strategic Value Partners | Sep. 18 / Sep. 11 | $564,468,399.13 of debt principal exchanged for 1,318,372 Class A shares and 305,225 preferred shares | 8.1% of Class A stock, 15.7% of preferred | How much of the preferred converts? 14 |
| OSUR — Islet Management and Yorkville | Sep. 17 / Sep. 14 | New Schedule 13D; the group reports 3,918,634 shares, 5.7%, against 490,000 shares previously | 5.7% | Does the group press for a sale of the company? 15 |
| SION — RA Capital Management | Sep. 21 / Sep. 17 | Sold 3,448,811 shares at $6.32 and $7.46, about $21.8 million | 3,448,812 shares in the healthcare fund; 14.3% across the group | Where does the remaining half of the fund's stake go? 1617 |
| KNTK — ISQ Global Fund II | Sep. 18 and 21 / Sep. 17–21 | Sold 265,572 Class A shares at $53.59 to $54.72, about $14.3 million | 448,273 Class A shares; 18.4% counting units and paired shares | What happens to the board seats the sales cost the fund? 1819 |
| ANET — Andreas Bechtolsheim | Sep. 21 / Sep. 17 | Sold 300,000 shares in twelve blocks at $193.61 to $204.31, about $59.7 million | 180,543,048 shares held indirectly | Is this a scheduled program or a discretionary exit? 20 |
| Seadrill — Elliott Investment Management | Sep. 21 / Sep. 14–21 | Sold 632,183 shares at $46.59 to $48.93, about $30.3 million | 3,643,112 shares, 5.8%; about 12.3% counting derivative exposure | Does the selling continue below $47? 21 |
The week's largest disclosed purchase: Berkshire in Lennar
Berkshire Hathaway bought 2,743,529 Lennar shares over three trading days, and the Form 4 shows every fill. On September 17 it bought 267,585 Class A shares at $78.41 and 410,164 at $79.41, plus 8,959 Class B shares at $76.96 and 8,306 at $77.94. On September 18 it took 1,218,429 Class A shares at $76.39, then 51,586 at $77.06, 68,760 at $78.09 and 7,900 at $78.88, alongside 33,122 Class B shares at $74.80, 390 at $75.76, 710 at $76.98 and 500 at $78.38. On September 21 it added 160,275 Class A shares at $77.23 and 483,809 at $77.97, with 4,888 Class B shares at $75.76 and 18,146 at $76.62.
Weighting those lines by size puts the average at $77.4168 a share and the total at about $212 million. The purchases took Berkshire's Lennar position to 23,719,109 Class A shares and 528,217 Class B shares, 24,247,326 in all. 1
Berkshire filed a Form 4, a transaction report with prices attached, rather than a Schedule 13D. The buying spread across three sessions and the highest price paid was $79.41, so the range where the largest buyer in the market was willing to transact is visible in the filing itself.
Follow-up: the next Form 4, and whether the daily sizes stay near a million Class A shares.
Buying done inside the window
Ryan Cohen bought 1,150,680 GameStop shares on September 21 at a weighted average of $22.9375, about $26.4 million. He now directly owns 40,498,522 shares, and the amendment filed the same day counts 44,233,306 shares once 3,734,784 warrants are included, or 8.7% of the shares outstanding as of September 3. 23 A GameStop director, Alain Attal, bought 17,500 shares the same day at $22.969 for about $402,000. 22
Anthony Tan, Grab Holdings' chief executive, bought 10,350,000 Class A shares on September 21 at $2.8866, about $29.9 million, taking his direct holding to 10,778,498 shares. 4
Conifer Management returned for a second week at Group 1 Automotive. It bought 65,650 shares on September 17 and 18, with weighted averages running from $260.82 to $269.89 in the first session and from $247.17 to $253.20 in the second, for about $16.9 million and an average of $256.7816. The firm's position is now 1,512,290 shares. 5
Nippon Life Insurance bought Corebridge Financial stock on four consecutive trading days: 295,967 shares on September 14 at $34.8642, 210,903 on September 15 at $35.0199, 320,785 on September 16 at $35.0171 and 174,760 on September 17 at $35.1953. The run totals 1,002,415 shares and about $35.1 million, against a remaining holding of 123,475,852 shares. 6789
Tor Olav Troim, chairman of Borr Drilling, bought 1,000,000 shares on September 16 at $4.2995 for about $4.3 million, taking his indirect holding to 30,385,941 shares. 10
One $29.8 million figure in this week's Form 4 data belongs in a different column. James Monroe III, a Globalstar director, reported buying 361,600 shares at $82.52 on September 18. The matching Form 4 from director James F. Lynch reports selling the same 361,600 shares at the same price, and its footnote gives the reason: the shares went to the James Monroe III Grantor Trust in a private transaction for estate planning. The two directors agreed the price between themselves and the shares changed hands privately. 2324
Activist and board-level filings
Oasis Management took its Vail Resorts holding activist on September 10, when its fund delivered a nomination notice for four directors — Robert Chapek, Mr. Hudson, Mr. Roberts and Picabo Street — for election at the company's 2026 annual meeting. The filing reports 2,200,366 shares, about 6.2% of the common stock, plus 477,714 shares of what Oasis describes as economic exposure comparable to a further 1.3%. Oasis states its case plainly: Vail controls 42 mountain resorts whose value, in the fund's view, the market has not recognised relative to peers, and a reconstituted board would sharpen the company's focus on growth. 13
Al Shams Investments, whose reporting group includes Wafic Rida Said, delivered a nomination notice on September 13 for five Braemar Hotels & Resorts directors — Jennifer L. Bitterman, Jonathan Klein, Anna Massion, Sir Michael Peat and Wayne R. Walker — and hand-delivered a copy the next day. Braemar's 2026 annual meeting is scheduled for November 13. Al Shams holds 6,513,000 shares, 9.48% of the company. 25
Steel Partners filled the board seat it had been pushing for at Spruce Power: Benjamin Rosenzweig, a Steel Partners Holdings senior vice president, joined the board on September 18 after the nominating committee reviewed his background. SP Strategic Holdings directly owns 3,429,380 shares, about 17.8% of the 19,252,186 shares outstanding as of August 10. 26
GreenWood Investors extended its cooperation agreement with Jack in the Box on September 17 for a further year. Under the amendment, the company consults GreenWood before appointing or nominating a new director and must use its best efforts to hold an investor event by June 30, 2027. GreenWood reports 1,352,490 shares, 7.1%, with sole voting power over 1,312,986 of them. 27
Islet Management and the Yorkville Advisors funds filed a joint Schedule 13D on OraSure Technologies on September 17, reporting 3,918,634 shares, 5.7%, where Islet alone had previously reported 490,000 shares, 0.7%. The filing lists a sale of the company as a whole or in parts among the actions the group may propose. 15
Mill Road Capital III disclosed 1,938,316 Mistras Group shares in the aggregate, about 6.1% of the 31,849,893 shares outstanding as of August 5, acquired for $13,897,120 — an average of about $7.17 a share. 28
Stone House Capital told Designer Brands it was pleased with management's September 10 earnings-call disclosure that the Topo Athletic brand is on track to top $100 million of revenue in 2027, and attached a presentation arguing the shares are significantly undervalued. 29
Capital committed rather than bought
Strategic Value Partners took its New Fortress Energy stake through a debt exchange. Under a restructuring support agreement, on September 11 the firm's affiliates exchanged debt instruments with an aggregate principal amount of $564,468,399.13 for 1,318,372 Class A shares and 305,225 preferred shares. SVP and its principal, Victor Khosla, each report 8.1% of the Class A stock and 15.7% of the preferred. The filing measures those percentages assuming 2,454,936 preferred shares convert into 114,010,348 Class A shares, so the fully converted position is far larger than the common-stock figure alone suggests. 14
Three other entries this week came from allocations at fixed prices. Lincoln Financial Investments bought 2,460,630 Class I shares of the Lincoln Bain Capital Total Credit Fund at $10.16 on September 17, for exactly $25 million, taking its holding to 27,950,485 shares. 12 Apeiron Investment Group, Christian Angermayer's vehicle, bought 6,080,047 Enhanced Group Class A shares at $1.15 for about $7.0 million, lifting its holding to 43,343,818 shares. 11 Avenue Capital's funds took 600,000 shares in XBP Global's private placement at $2.83, part of a 2,275,245-share placement priced at a weighted average of about $2.66 that raised roughly $6.05 million for the issuer. 30
KKR Alternative Assets reported 9,866,525.787 shares of KKR Real Estate Select Trust, 29.4% of 33,605,418.73 shares outstanding. That share count already reflects the cancellation of 1,933,109 shares, and the percentage rose with the denominator rather than with any purchase by the reporting group. 31
Selling inside the window
RA Capital Management sold 3,448,811 Sionna Therapeutics shares on September 17 — 3,415,011 at $6.32 and a further 33,800 at $7.46 — for about $21.8 million and an average of $6.3312. Its healthcare fund retains 3,448,812 shares, and the group as a whole reports 6,476,193 shares, 14.3%. 1617
ISQ Global Fund II sold 265,572 Kinetik Holdings Class A shares across September 17, 18 and 21 at weighted averages from $53.5857 to $54.7211, about $14.3 million in total. The sales carry a consequence the filing spells out: by dropping below 10% of the common stock on September 17, ISQ lost its right to designate any directors, and both the stockholders agreement and the voting agreement terminated automatically as to the fund. Its remaining interest is 17,618,164 shares on a converted basis, 18.4%, made up of 448,273 Class A shares, 15,569,492 common units paired with Class C shares, and 1,600,399 Class A shares acquirable under a contribution agreement. 1819
Andreas Bechtolsheim, Arista Networks' co-founder, sold 300,000 shares on September 17 in twelve blocks at prices from $193.6132 to $204.3062, about $59.7 million in total and an average of $198.9544. His indirect holding is 180,543,048 shares. 20
David Duffield, Workday's co-founder, converted 94,089 Class B shares into Class A shares on September 18 and sold the same 94,089 shares in three blocks at $194.0375, $194.9086 and $195.7329, about $18.3 million. He retains 105,049 Class A shares directly. 32
Elliott Investment Management sold Seadrill shares on every trading day from September 14 through September 21, 632,183 shares in all, at prices from $46.59 to $48.93, for about $30.3 million. The fund reports 3,643,112 shares, 5.8% of the common stock, and about 12.3% of combined economic exposure once the derivative agreements referenced in the filing are counted. Its aggregate cost for the common shares it still holds is approximately $80,653,737. 21
Ownership maps and their measurement dates
These filings report a position and a date. Each one tells a reader who holds what on the measurement date, and where the number includes instruments that convert into stock, the filing says so.
- Venture Global — D. E. Shaw. 28,765,945 Class A shares, 5.4%. The firm crossed the 5% line on September 8 and measured the position on September 11; the filing became public September 15. 33
- Lincoln International — Millennium Management. 2,029,417 Class A shares, 5.6%, measured September 14. 34
- Tyra Biosciences (TYRA) — Biotechnology Value Fund. BVF Partners reports 4,215,886 shares, 6.1%, measured September 14, of which Biotechnology Value Fund holds 2,203,710 and Biotechnology Value Fund II holds 1,651,007. 35
- X4 Pharmaceuticals (XFOR) — Venrock Healthcare Capital Partners. 5,555,047 shares, 5.6%, measured September 14. 36
- Dynatrace (DT) — Pictet Asset Management. 14,564,509 shares, 5.0%, measured September 15, with sole voting power over 12,773,058 of them. 37
- BeOne Medicines — Baker Bros. Advisors. 115,457,154 shares, 7.8%, measured September 14. 38
- Talos Energy (TALO) — the Slim family. Carlos Slim Helu and three family members report 39,079,036 shares, 23.4%, measured September 15 and calculated on 166,965,468 shares outstanding as of July 28. 39
- Melco Resorts & Entertainment (MLCO) — Melco Leisure. 687,360,906 ordinary shares, 56.3%, reported in an amendment filed September 18. 40
- SharonAI Holdings — Situational Awareness LP. 8,070,950 Class A shares, 21.1%, measured September 15 against 38,341,987 shares outstanding. 41
What deserves another look
- LEN: Berkshire's next Form 4, which will show whether the buying continued past September 21.
- GME: Ryan Cohen's next filing, and whether the purchase size keeps growing.
- GPI: Conifer's next update, which will show whether it bought into the drop to $247.
- CRBG: the next Nippon Life Form 4, to see whether four sessions of buying extend to five.
- KNTK: what ISQ does with 18.4% now that its board-designation rights have lapsed.
- SION: the next RA Capital filing, against the 3,448,812 shares left in the healthcare fund.
- MTN: whether Vail Resorts reaches a settlement with Oasis ahead of its 2026 annual meeting.
- NFE: the conversion schedule on the 305,225 preferred shares the restructuring created.
- OSUR: the next group amendment, and whether it moves from a report to a proposal.
- BHR: Braemar's response to the five nominees before the November 13 annual meeting.
- VIP: shares outstanding at Vulcan Infrastructure & Power after the September 10 private placement closed and MIG REF II took a note convertible at $2.1375. 42
- Venture Global, Lincoln International, Tyra Biosciences, X4 Pharmaceuticals, Dynatrace, BeOne Medicines, Talos Energy, Melco Resorts and SharonAI: the next filing from each holder, since this week's reports carry no transaction table.
References
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