The Daily Filing | Wednesday, April 01, 2026
COP insider sells $15M. Plus TPL moves.
We read 138 filings today. Here are the ones worth your time. 94 Form 444 8-K1 Buys12 Sells |
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ConocoPhillips' CFO just moved $15M out of his position. Discretionary, not pre-planned. One buyer showed up: Horizon Kinetics put money into Texas Pacific Land. Meanwhile, D.R. Horton, Ares, and Cintas all filed material agreements, the kind that change compensation structures or deal terms mid-quarter. |
| THE FILING THAT MATTERS MOST | |
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| SEC FORM 4 | Sale . D . $15.0M . COPD |
ConocoPhillips' Lance Ryan Michael sold $15.0M this week. Discretionary. Not pre-planned. He unloaded 24.4% of his position while COP sits four dollars below its 52-week high of $136. The stock's flat for the year while the sector debates whether we're heading into another 1973-style oil shock. Michael hasn't bought a share since taking the position. Now he's cutting a quarter of his holdings while crude prices climb and energy stocks hold near multi-year highs. The market's pricing in supply concerns. The insider's pricing out of his position. One of those views will be right. COP $132.00 . 52w: $80-$136 . +0% YTD |
| SEC FORM 4 | Buy . D . $494 . TPLD |
Horizon Kinetics just added $494 to their TPL position. The asset manager now has 17 consecutive buys over two years with zero sells. TPL trades near the middle of its 52-week range after oil and gas royalty income drove record cash flow last quarter. TPL $474.56 . 52w: $269-$547 . +0% YTD |
| AFL | Japan Post Holdings Co., Ltd sells $3.1M of AFL | | GOOG | President John Walker sells $2.5M of GOOG | | SO | CEO Greene Kimberly S sells $2.4M of SO | | WMT | C Mcmillon sells $2.4M of WMT | | VRTX | Carmen Bozic sells $1.1M of VRTX | | GL | Rebecca Zorn exercises options in $865K of GL | | CIEN | Joseph Cumello sells $700K of CIEN | | HPQ | Charles Bergh exercises options in $556K of HPQ | | WSM | CFO Jeffrey Howie sells $314K of WSM | | FFIV | CFO Edward Werner sells $300K of FFIV |
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D.R. Horton just locked in new debt financing through a material credit agreement, disclosed alongside the creation of direct financial obligations. The homebuilder is tapping capital markets while its stock trades 26% below its 52-week high, suggesting management sees value in securing liquidity before any further market deterioration. With housing starts still under pressure and mortgage rates elevated, this gives DHI dry powder for land acquisitions or to weather a prolonged slowdown. DHI $137.22 . 52w: $110-$185 . +0% YTD |
Ares Management just took on new debt through a material definitive agreement. The alternative asset manager is tapping credit markets while trading near its 52-week low, down 44% from its peak. For a firm that manages $464 billion in assets, incremental leverage typically funds deployment into distressed opportunities or return of capital to shareholders. ARES $109.10 . 52w: $96-$195 . +0% YTD |
Cintas terminated its existing credit facility and simultaneously entered a new material agreement that created fresh debt obligations. The company is refinancing at a time when its stock sits near 52-week lows, down from $229 in the past year. The move likely locks in current rates while giving CTAS more flexibility for capital allocation as uniform demand softens. CTAS $169.14 . 52w: $166-$229 . +0% YTD |
Market Context | Market Breadth | Weak (22% above SMA-50) |
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