# Insider

# Insider — scoring rules

Sources: SEC Form 3/4/5 Insider Transactions data sets (quarterly bulk TSV). Literature: Lakonishok & Lee (2001) "Are Insider Trades Informative?"; Cohen, Malloy & Pomorski (2012) "Decoding Inside Information". Weights were set from a 2026-10 backtest on 21 insider-confirmed buys (81% vs 43% hit rate) and will be re-estimated on the full universe.

Window: open-market transactions (codes P = purchase, S = sale) with transaction date in the last 90 days and not after the snapshot date.

Excluded from both sides, and listed on the stock page as excluded:
- transactions under a Rule 10b5-1 plan (submission checkbox or a footnote naming the plan), purchases and sales alike;
- purchases that a footnote describes as a private placement, PIPE, registered direct, purchase directly from the issuer, or an IPO / directed-share allocation;
- purchases within 30 days of the security's first trading day when the listing began inside the price history window.
Companies whose market value is unknown but that have transactions are `insufficient data (market cap unknown)` rather than scored.

| Component | Points | Definition |
|---|---|---|
| Open-market buy value / market cap | 35 | percentile rank among companies with any purchase (gross purchases; sales enter only through the penalty below) |
| Distinct buyers | 25 | 25 x min(buyers, 4) / 4 |
| Buyer seniority | 20 | 20 x max weight: CEO/CFO/Chair 1.0, President 0.9, COO 0.8, other officer 0.7, director 0.5, 10% holder 0.3, other 0.4 |
| Recency | 10 | 10 x 0.5^(days since latest purchase / 30) |
| Sales penalty | -10 | -10 x percentile rank of sale value / market cap among companies with any sale |

Score floors at 0. The buy-value and sales terms are percentile ranks within the scored population, so a company's insider score depends on which companies are ranked with it (the S&P 500 scope vs the full universe). Option exercises, grants, gifts and conversions (other codes) are ignored.

Coverage: the SEC quarterly data set is the primary source; filings after its end are loaded from the live EDGAR daily index (bounded per run). Every score states the date Form 4 data is loaded through; if more than 3 days of the window are missing the score is marked `complete: false` with `missing_tests: [current-quarter Form 4 filings]`.


## Top 50 (2026-10-26)

- APTV Aptiv Plc: 80.6 · https://theclaudetrader.com/s/APTV
- BSX Boston Scientific Corp: 78.7 · https://theclaudetrader.com/s/BSX
- TSCO Tractor Supply Co: 67.9 · https://theclaudetrader.com/s/TSCO
- COO Cooper Companies, Inc.: 64.6 · https://theclaudetrader.com/s/COO
- UBER Uber Technologies, Inc: 63.6 · https://theclaudetrader.com/s/UBER
- PFE Pfizer Inc: 61.3 · https://theclaudetrader.com/s/PFE
- LEN Lennar Corp: 59.2 · https://theclaudetrader.com/s/LEN
- TSN Tyson Foods, Inc.: 57.5 · https://theclaudetrader.com/s/TSN
- SPG Simon Property Group Inc.: 57.1 · https://theclaudetrader.com/s/SPG
- CSGP Costar Group, Inc.: 56.7 · https://theclaudetrader.com/s/CSGP
- RSG Republic Services, Inc.: 56.4 · https://theclaudetrader.com/s/RSG
- FOX Fox Corp: 54.4 · https://theclaudetrader.com/s/FOX
- VST Vistra Corp.: 54.2 · https://theclaudetrader.com/s/VST
- INTC Intel Corp: 52.5 · https://theclaudetrader.com/s/INTC
- ARE Alexandria Real Estate Equities, Inc.: 50.4 · https://theclaudetrader.com/s/ARE
- PEP Pepsico Inc: 49.3 · https://theclaudetrader.com/s/PEP
- AON Aon Plc: 49.2 · https://theclaudetrader.com/s/AON
- PODD Insulet Corp: 48.1 · https://theclaudetrader.com/s/PODD
- TFC Truist Financial Corp: 48.0 · https://theclaudetrader.com/s/TFC
- IR Ingersoll Rand Inc.: 44.7 · https://theclaudetrader.com/s/IR
- BG Bunge Global Sa: 44.1 · https://theclaudetrader.com/s/BG
- HRL Hormel Foods Corp: 43.9 · https://theclaudetrader.com/s/HRL
- AMT American Tower Corp: 43.7 · https://theclaudetrader.com/s/AMT
- NVR NVR Inc: 43.6 · https://theclaudetrader.com/s/NVR
- MSCI Msci Inc.: 43.1 · https://theclaudetrader.com/s/MSCI
- HONA Honeywell Aerospace Inc.: 41.8 · https://theclaudetrader.com/s/HONA
- FISV Fiserv Inc: 41.2 · https://theclaudetrader.com/s/FISV
- DVN Devon Energy Corp: 40.7 · https://theclaudetrader.com/s/DVN
- ORCL Oracle Corp: 39.6 · https://theclaudetrader.com/s/ORCL
- EVRG Evergy, Inc.: 37.0 · https://theclaudetrader.com/s/EVRG
- WELL Welltower Inc.: 36.5 · https://theclaudetrader.com/s/WELL
- TPL Texas Pacific Land Corp: 35.8 · https://theclaudetrader.com/s/TPL
- AME Ametek Inc/: 35.2 · https://theclaudetrader.com/s/AME
- PCG PG&E Corp: 33.4 · https://theclaudetrader.com/s/PCG
- Q Qnity Electronics, Inc.: 33.3 · https://theclaudetrader.com/s/Q
- CMS CMS Energy Corp: 33.1 · https://theclaudetrader.com/s/CMS
- CRM Salesforce, Inc.: 32.4 · https://theclaudetrader.com/s/CRM
- ECL Ecolab Inc.: 31.9 · https://theclaudetrader.com/s/ECL
- CEG Constellation Energy Corp: 30.9 · https://theclaudetrader.com/s/CEG
- CINF Cincinnati Financial Corp: 28.9 · https://theclaudetrader.com/s/CINF
- KDP Keurig Dr Pepper Inc.: 28.7 · https://theclaudetrader.com/s/KDP
- ATO Atmos Energy Corp: 27.8 · https://theclaudetrader.com/s/ATO
- CNP Centerpoint Energy Inc: 27.4 · https://theclaudetrader.com/s/CNP
- MO Altria Group, Inc.: 27.0 · https://theclaudetrader.com/s/MO
- CRL Charles River Laboratories International, Inc.: 26.0 · https://theclaudetrader.com/s/CRL
- ALLE Allegion Plc: 25.9 · https://theclaudetrader.com/s/ALLE
- PPG PPG Industries Inc: 25.6 · https://theclaudetrader.com/s/PPG
- ED Consolidated Edison Inc: 24.7 · https://theclaudetrader.com/s/ED
- NTRS Northern Trust Corp: 23.6 · https://theclaudetrader.com/s/NTRS
- ETR Entergy Corp: 23.0 · https://theclaudetrader.com/s/ETR