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. 12

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. 12

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. 14 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. 115

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. 118 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. 120 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. 121

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. 24252627

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. 22282930 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. 5242526

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.