June 1–2 window at a glance
Coverage: 2026-06-01 13:33 UTC → 2026-06-02 18:00 UTC
HUBC +386% and $3.6B Medline: whale moves Jun 1–2
A thin Tuesday Form 4 session collides with a dense pile of late-surfacing disclosures: HUBC (Hub Cyber Security) sees 9 ownership filings on June 1 with combined reported stakes exceeding 133% of outstanding shares as the stock rallied 386% in three days — a textbook micro-float squeeze. Corvex's Keith Meister executed a $107M three-day exit from Illumina. The late-surfacing batch includes a $3.6B same-day Medline PE distribution by Blackstone, Schwarzman, and Hellman & Friedman; Slootman's total Snowflake unwind now at $214M; and Apollo's $106M Taboola exit. The one counter-signal: a $20M insider buy of Robinhood by Malka Meyer. Corporate events: BHR sold Park Hyatt Beaver Creek for $176M and paid off $86.25M in convertible notes; RPAY closed the $372M KUBRA acquisition and raised FY2026 revenue guidance 44% to $490–500M.
The June 1–2 window is thin on fresh Form 4 volume — Tuesday is historically light for filings, and the data confirms it: only five trades above $1M filed on June 1, all sells. What makes this edition dense is the confluence of a micro-float squeeze exploding on EDGAR and a backlog of late-surfacing PE exits that collectively exceed $4B. The sole buy-side signal is a $20M Robinhood insider purchase sitting in quiet contrast to everything else.
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Quick scan: all key moves
| Ticker | Insider / entity | Action | Value | Trade date |
|---|---|---|---|---|
| ILMN | Keith Meister (Director, Corvex Management) | Sell | $107.3M (3-day cluster; $38.5M on Jun 1) | May 28–Jun 1 |
| SNOW | Frank Slootman (Director) | Sell | $214M total; $110.8M new May 29 tranche | May 26–29 |
| MDLN | Blackstone + Schwarzman + H&F | PE exit | $3.6B | May 28 |
| TBLA | Apollo (two entities) | PE exit | $105.6M | May 28 |
| HOOD | Malka Meyer | Buy | $20M | May 28 |
| AS | Stuart Haselden (Arc'teryx CEO) | Sell | $7.6M | Jun 1 |
| SNOW | Mark Garrett (Director) | Sell | $25M | May 29 |
| ACT | Genworth Holdings (10% owner) | Sell | $25.9M | May 29 |
| RGTI | CEO Kulkarni + CTO Rivas | Sell | $15.3M cluster | May 28–Jun 1 |
| MRVL | Chris Koopmans (President & COO) | Sell | $2.06M | Jun 1 |
| CYTK | 3-insider cluster | Sell | $1.7M | Jun 1 |
| HUBC | 9 ownership filings, combined >133% of outstanding | Squeeze watch | — | Jun 1 |
| BHR | Park Hyatt Beaver Creek sale closes | Corporate event | $176M proceeds | Jun 1 |
| RPAY | KUBRA acquisition closes; guidance raised 44% | Corporate event | $372M acquisition | Jun 1 |
HUBC: nine filings, 133% ownership, and a 386% stock move
Hub Cyber Security Ltd. (Nasdaq: HUBC — cybersecurity hardware for critical infrastructure, an Israel-domiciled company listed in the U.S.) produced the most filing-dense story of the window. Nine Schedule 13D/G ownership filings hit EDGAR on June 1, and when their reported beneficial ownership stakes are added together, they sum to approximately 132.9% of the 1,282,052 ordinary shares outstanding. 1
The stock price tells you something went wrong in the float math long before the filings confirmed it. From $0.106 on May 27, HUBC closed at $0.515 on June 1 — a 386% move in three trading days. On May 29 alone, 1.37 billion shares changed hands against an outstanding share count of roughly 1.28 million, implying approximately 1,068x turnover of the entire float. The intraday high that day reached $0.6307 before collapsing to close at $0.2611.
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The filing map
Tyler Kent White (35.1%) filed SC 13D on June 1, converting from a prior 13G/A he had filed just days earlier. 1 The conversion was technically required: White's beneficial ownership (450,000 shares) exceeds 20% of outstanding, which disqualifies him from Schedule 13G's passive-investor exemption under SEC Rule 13d-1(c). His Item 4 is clean — he explicitly disclaims any present plans for mergers, board control, or going-private transactions, stating the shares were acquired "for investment purposes only." His total cost was approximately $59,977, accumulated through seven open-market purchases between May 18 and May 27 at prices from $0.1097 to $0.1451.
Chad Laprince Williams (59.8%) filed SC 13G/A Amendment #2 claiming 766,368 shares. 2 This filing has a compliance problem. Williams is certifying passive intent under Rule 13d-1(c) despite reporting 59.8% ownership — well above the 20% threshold that makes the passive exemption unavailable. Even his Amendment #1 (filed around May 20, reporting 28.5%) was above the 20% threshold. Under SEC rules, Williams appears required to file Schedule 13D, not 13G. Whether this reflects an error or a deliberate avoidance of 13D's Item 4 disclosure requirement (which would mandate disclosure of purpose and any plans for the issuer) is not yet confirmed. A corrective 13D from Williams would require him to spell out his intentions — which carries substantially more signal for other holders.
Strauss family entities (26.8% combined) filed as two separate passive filers: Jonathan Strauss (15.1%, 194,000 shares) and MBOYC Holdings LLC (11.7%, 150,000 shares, signed by Robert Strauss). 3 4 Their combined 26.8% stake — if considered together — would exceed the 20% threshold requiring a 13D. The two filers are not reported as a "group." MBOYC uses a Wyoming registered-agent address (30 N Gould St, Sheridan, WY), a common structure for entities seeking filing anonymity.
Daniel Gnegy (11.2%) filed SC 13G/A Amendment #2 for 144,000 shares, maintaining a passive certification. 5
HRT Financial LP entered and partially exited in the same 48-hour window. 6 7 The New York-based quantitative trading firm (3 World Trade Center, 76th floor) bought 599,115 shares at $0.12 on May 28, then sold 237,085 at $0.45 on May 29, retaining 33,962 shares. The exited tranche produced roughly a 275% gain in one day. This pattern is consistent with tactical arbitrage: enter on the initial float dislocation, sell into the squeeze-driven spike, leave a stub position. HRT is not subject to Section 16, so its activity reflects opportunistic short-term positioning rather than a strategic holder's view.
What to watch
One named filer is still pending. Walden filed a 13G on May 27 with Item 10 listed as N/A — which signals that Walden did not certify passive investor status. Under SEC rules, a 13G filer that does not certify passive intent has a 10-calendar-day window to either certify or convert to a 13D. That window expires approximately June 6. 8 No Walden filing appeared on June 1. If Walden files a 13D with a substantive Item 4 before June 6, it could further tighten the effective float and add another layer to the filing stack.
The operative uncertainty for readers monitoring HUBC is: does the Williams 59.8% figure reflect genuine ownership of 766,368 shares, or are the same shares being multiply-counted across rapidly churning holders? The >133% combined-ownership total suggests the latter — which is characteristic of a micro-float squeeze where short-sellers who borrowed and sold shares are still technically counted as a lien on those shares even after price appreciation. The June 2 price action (data not yet available at time of this publication's coverage window) will indicate whether the squeeze is sustaining or reversing.
Meister exits Illumina: $107M in three days
Keith Meister — founder of Corvex Management (the activist hedge fund) and a director and 10%-plus beneficial owner of Illumina (Nasdaq: ILMN — genomic sequencing instruments and consumables, a leading company in the DNA sequencing market) — sold across three consecutive trading days. 9
| Date | Shares sold | Price | Proceeds |
|---|---|---|---|
| May 28 | 220,000 | $153.79 | $33,834,460 |
| May 29 | 214,596 | $162.92 | $34,961,121 |
| Jun 1 | 235,000 | $163.95 | $38,528,955 |
| Total | 669,596 | — | ~$107.3M |
The June 1 tranche of 235,000 shares at $163.95 ($38.5M) is the only one that falls inside this edition's coverage window; the prior two tranches surface here because they were not individually profiled in earlier runs. The rising execution price across three days — from $153 to $163 — combined with near-identical daily lot sizes (220K, 214K, 235K) is consistent with a structured, plan-driven liquidation rather than a panicked single-session exit.
Meister — filing as a 10%+ beneficial owner and director — is a known activist investor through Corvex Management. The scale of this three-day exit ($107M from a director-level holder) represents a substantial reduction in his declared stake at ILMN. No public rationale accompanies the Form 4 filings.
Late-surfacing: $3.9B in PE exits surface in this window
Three late-filed Form 4s from May 28–29 were not captured in prior editions. Combined, they represent roughly $3.9B in institutional exits that readers of this channel have not previously seen.
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Medline (MDLN): $3.6B in one day from Blackstone, Schwarzman, and H&F
On May 28, three related entities filed Form 4s on the same day for Medline Inc. (Nasdaq: MDLN — a major U.S. medical supplies and distribution company), disclosing a combined ~$3.6B in open-market sells. 10
| Seller | Shares | Price | Proceeds |
|---|---|---|---|
| Blackstone Management Associates VIII | 33,317,824 | $36.54 | $1,217,366,653 |
| Stephen A. Schwarzman | 33,317,824 | $36.54 | $1,217,366,653 |
| H&F Corporate Investors X (Hellman & Friedman) | 31,868,237 | $36.54 | $1,164,401,643 |
| Combined | ~98.5M shares | — | ~$3.60B |
The identical share count and price between Blackstone and Schwarzman (who is Blackstone's founder and Executive Chairman) suggests these are two reporting lines for the same coordinated distribution — likely a secondary offering or post-IPO PE lockup expiration distribution in kind. Hellman & Friedman, another major PE firm that participated in the 2021 Medline leveraged buyout alongside Blackstone, executed a slightly smaller but parallel exit on the same day. This is the largest single-day dollar-value filing in this coverage cycle.
Snowflake (SNOW): Slootman total hits $214M after new May 29 tranche
Frank Slootman, a director of Snowflake (NYSE: SNOW — cloud data warehousing and analytics platform), added a previously unreported May 29 sale of 437,076 shares at $253.43 ($110.8M) to the cluster this channel has been tracking. 11 Adding this tranche to the already-covered May 26 ($9.8M) and May 28 ($93.5M) sales, Slootman's total SNOW exit across four days is now approximately 892,426 shares and ~$214M.
On the same May 29 date, Snowflake director Mark Garrett also sold 100,000 shares at $250.00 for $25M. Combined new May 29 disclosure: ~$135.8M across the two directors.
Taboola (TBLA): Apollo exits $105.6M in secondary
Two Apollo entities — Apollo Management Holdings and Apollo Management, L.P. — each sold 12,000,000 shares of Taboola.com (Nasdaq: TBLA — digital content recommendation and native advertising platform) at $4.40 on May 28, totaling 24,000,000 shares and $105.6M. 11 The symmetrical share count between the two Apollo entities (12M each) indicates a coordinated distribution, consistent with Apollo reducing its stake through a secondary sale.
Enact Holdings (ACT): Genworth trims $25.9M
Genworth Holdings (a 10% owner of Enact Holdings, NYSE: ACT — a mortgage insurance company) sold 602,440 shares at $42.91 on May 29 for $25.9M. 10 Genworth spun off Enact in 2021 and has been reducing its stake in subsequent quarters. This is a continuation of that structured drawdown.
Robinhood: the window's only meaningful buy
Against a wall of sells and PE exits, one transaction goes the other way. Malka Meyer — whose officer title is not listed in the Form 4; given the share count, the filing indicates a director or 10%+ owner relationship — purchased 249,000 shares of Robinhood Markets (Nasdaq: HOOD — retail brokerage, crypto, and fintech platform) at $80.39 on May 28 for $20,018,106. 12
This is the largest single insider buy across the entire scan — late-surfacing but notable because it runs counter to the dominant sell-side tone of the window. An insider committing $20M to HOOD shares at $80.39 is a directional signal worth tracking for readers who follow the stock. No public rationale accompanies the filing; the title field is blank in the Insider Monitor source, leaving the exact insider role unconfirmed pending a direct SEC EDGAR pull.
Corporate events: BHR clears debt, RPAY closes transformative deal
BHR: Park Hyatt Beaver Creek sold, convertible notes paid off
Braemar Hotels & Resorts (NYSE: BHR — a hotel REIT with a luxury focus) closed the sale of its 193-room Park Hyatt Beaver Creek Resort & Spa in Avon, Colorado on May 26, with the announcement filed June 1. 13 14
- Sale price: $176 million in cash ($912,000 per key); 4.6% capitalization rate on trailing 12-month NOI through March 2026
- Original cost: $145.5 million in 2017; held approximately 9 years; $30.5 million gross gain on sale
- Debt repaid: $70.5 million property mortgage paid at close; approximately $104.5 million net proceeds retained
- Convertible notes: BHR used a portion of net proceeds to repay in full its 4.50% Convertible Senior Notes due 2026 at scheduled maturity on June 1 — $86.25 million principal plus accrued interest. The indenture (U.S. Bank as Trustee, dated May 18, 2021) was terminated.
BHR President and CEO Richard J. Stockton said the sale was "a fantastic outcome for the Company and our shareholders" and that it "eliminates a near-term debt maturity and generates substantial net proceeds after repayment, further strengthening our balance sheet as we advance our strategic alternatives process." 14
The strategic alternatives process referenced by Stockton is relevant context: BHR has been subject to an ongoing proxy contest from Al Shams (approximately 9.55% holder), who filed a competing director slate in May. The hotel sale and debt payoff strengthen management's balance sheet position heading into any contested vote or potential sale process, while also removing the convertible notes maturity as a near-term pressure point.
RPAY: KUBRA acquisition closes, FY2026 guidance raised 44%
Repay Holdings Corporation (Nasdaq: RPAY — payment processing for automotive lending, healthcare, and government verticals) closed its acquisition of KUBRA Holdings Inc. and KUBRA Data Transfer Ltd. on June 1 for approximately $372 million in cash. 15 16 KUBRA is a customer experience management provider serving 250-plus utility, government, and insurance clients across North America, reaching more than 40% of U.S. and Canadian households.
The acquisition is funded by a new $500 million senior secured term loan (7-year maturity, SOFR + 5.5%) and $100 million revolving credit facility (5-year, SOFR + 4.25%) with Truist Bank as administrative agent. RPAY terminated its prior credit agreement (dated July 2024) at close. Net leverage at closing is approximately 4.0x; RPAY expects to reduce below 3.0x within 18 months. 17
The guidance revision is the most actionable data point: RPAY raised FY2026 revenue guidance from $340–346 million to $490–500 million — a 44% increase at the midpoint — and Adjusted EBITDA from $141–146 million to $168.5–176 million. KUBRA is expected to contribute $150–154 million of revenue and $27.5–30 million of Adjusted EBITDA for the remaining seven months of 2026. CEO John Morris said the combined entity will "process over $130 billion in combined annual payment volumes." 16
For readers tracking the Forager Fund proxy contest at RPAY (Forager filed a shareholder letter via SC 13D/A on May 27): the KUBRA close significantly strengthens management's operational narrative. No board response to the Forager letter had been filed as of this writing.
Watchlist: NNDM, NVTS, TXO remain silent
NNDM: Nano Dimension (Nasdaq: NNDM — additive manufacturing and advanced electronics) filed no SEC documents in this window. The proxy standoff with Murchinson (approximately 7.4% holder) continues with no extraordinary general meeting date set and no Murchinson response filed since May 21. 18
NVTS: Navitas Semiconductor (Nasdaq: NVTS — gallium nitride and silicon carbide power semiconductors) filed no new documents in this window. For context: Ranbir Singh's SC 13D/A (filed May 29) confirmed he sold 3,060,118 shares at a weighted average $29.29 (~$89.6M) on May 27 and 664,058 shares at $28.72 (~$19.1M) on May 28 — a two-day $108.7M exit. No follow-up Form 4 or ownership filing has appeared since. 19
TXO: TXO Partners (NYSE: TXO — oil and gas royalties) filed no new Form 4s. Bob Simpson's open-market buy streak remains at 8 consecutive purchases with a cumulative total of approximately $6.6M (most recent: $866K on May 27). No buy #9 appeared in this window.
Data sourced from Insider Monitor (aggregated SEC Form 4 filings) 9 10 11 12 and SEC EDGAR direct filings 1 13 15. Rule 10b5-1 pre-scheduled plan status is not confirmed for any transaction unless explicitly stated in the source. Beneficial ownership stakes at HUBC sum to >100% due to micro-float dynamics and are presented as filed, not adjusted.
Cover image: AI-generated illustration.
参考来源
- 1SEC EDGAR — HUBC SC 13D (Tyler Kent White, 0002136560-26-000003)
- 2SEC EDGAR — HUBC SC 13G/A Amendment #2, Chad Williams (0001199835-26-000215)
- 3SEC EDGAR — HUBC SC 13G/A, Jonathan Strauss (0002133620-26-000002)
- 4SEC EDGAR — HUBC SC 13G/A, MBOYC Holdings LLC (0002133694-26-000003)
- 5SEC EDGAR — HUBC SC 13G/A, Daniel Gnegy (0002135850-26-000003)
- 6SEC EDGAR — HRT Financial Form 3 for HUBC (0001475597-26-000040)
- 7SEC EDGAR — HRT Financial Form 4 for HUBC (0001475597-26-000043)
- 8SEC EDGAR — HUBC Company Filings Browse Page
- 9Insider Monitor — Real-time Insider Trading Report, page 4 of 5
- 10Insider Monitor — Real-time Insider Trading Report, page 2 of 5
- 11Insider Monitor — Real-time Insider Trading Report, page 5 of 5
- 12Insider Monitor — Real-time Insider Trading Report, page 3 of 5
- 13SEC EDGAR — BHR 8-K Filing Index, June 1, 2026
- 14SEC EDGAR — BHR Press Release EX-99.1
- 15SEC EDGAR — RPAY 8-K Filing Index, June 1, 2026
- 16SEC EDGAR — RPAY EX-99.1 Press Release
- 17SEC EDGAR — RPAY 8-K Body (iXBRL)
- 18SEC EDGAR — NNDM Company Filings
- 19SEC EDGAR — NVTS SC 13D/A, Ranbir Singh (May 29, 2026)
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