The Insiders Fund

The Insiders Fund The Insiders Fund, LP is a Park City based long-short equity fund shredding the S&P 500 and the fin THE INSIDERS FUND, LP is a long-short equity fund.

We invest in companies at or near prices that management has been willing to invest significant amounts of their own money in. After all, who knows a business better than the people running it? The SEC mandates that officers, directors, and 10% shareholders file a Form 4 detailing their buying and selling of their companies' securities within 48 hours of the date of the transaction. The SEC makes

this info immediately available to the public. This is as close to "inside information" as the average investor is likely to come across and it's completely legal.

A busy day at work
11/07/2023

A busy day at work

Director, Owner John Joseph Stephens purchased 214,500 shares at $2.92 of $SLDPSolid Power is developing solid-state bat...
03/25/2023

Director, Owner John Joseph Stephens purchased 214,500 shares at $2.92 of $SLDP

Solid Power is developing solid-state battery technology to allow the next generation of rechargeable batteries for the rapidly expanding EV and other applications. The unique sulfide-based solid electrolyte material utilized in the company’s core technology substitutes the liquid or gel electrolyte used in standard lithium-ion batteries. The business believes that the electrolyte material can provide a greater driving range, longer battery life, enhanced safety, and reduced prices than standard lithium-ion batteries. In addition, the business designs and develops solid-state cells that use electrolytes in the cathode, anode, and separator layers. The most advanced cell design has a silicon anode, an NMC cathode, and a solid separator. The business is doing preliminary research on other cell designs, including lithium-metal, an anode-less design, and a cell that substitutes the nickel and cobalt in the cathode with earth-rich elements.

Opinion: Venture capital company trading in the public markets.

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

Chief Executive Officer, Owner Anthony Noto purchased 45,000 shares at $5.39 of $SOFISoFi Technologies Inc. is a one-sto...
03/25/2023

Chief Executive Officer, Owner Anthony Noto purchased 45,000 shares at $5.39 of $SOFI

SoFi Technologies Inc. is a one-stop shop for financial services that is focused on its members. Its Lending and Financial Services products allow members to borrow, save, spend, invest, and protect their money. Customers are referred to as “members” by the firm. The objective of the firm is to assist members in achieving financial independence to fulfill their dreams. The company started up in 2011 and has made a set of financial solutions that can only be done quickly, easily, and with a wide range of options on an integrated digital platform. Everything the firm does now is oriented around assisting members in “Getting Your Money Right,” and the company strives to develop and create methods for members to attain this objective.

Opinion: I love this bank’s depositor base but the last week has proved that we know a lot less about banks than we thought we did. SoFi will likely get acquired by one of the big banks that want to tap into this up-and-coming demographic that SOFI has captured. Just realize you don’t know the balance sheet and hope the hell Anthony Noto does.

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

Director, Owner James R Sulat purchased 30,000 shares at $8.48 of $MNKMallinckrodt plc is a specialized pharmaceutical c...
03/25/2023

Director, Owner James R Sulat purchased 30,000 shares at $8.48 of $MNK

Mallinckrodt plc is a specialized pharmaceutical company that develops, produces, promotes, and distributes goods and treatments in the United States, Europe, the Middle East, Africa, and globally. It divides its business into two divisions: specialty brands and specialty generics. The company sells branded pharmaceuticals for autoimmune and rare diseases in neurology, rheumatology, nephrology, ophthalmology, hematology, pulmonology, oncology, immunotherapy, neonatal respiratory critical care therapies, analgesics, cultured skin substitutes, and gastrointestinal products. Physicians, respiratory therapists, pharmacists, pharmacy buyers, hospital procurement departments, ambulatory surgical centers, and specialty pharmacies are the primary customers for the company’s branded goods.

Opinion: I haven’t had good luck with generics. Take them, don’t buy them is my advice.

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

Vice President of Operations, Owner Patrick McGough purchased 20,000 shares at $10.05 of $CRKComstock Resources Inc is a...
03/25/2023

Vice President of Operations, Owner Patrick McGough purchased 20,000 shares at $10.05 of $CRK

Comstock Resources Inc is a significant independent natural gas producer focused on the Haynesville shale, a top natural gas region in North Louisiana and East Texas with better economics due to its proximity to Gulf Coast markets. The firm concentrated on building wealth by developing a large inventory of highly profitable and low-risk drilling possibilities in the Haynesville and Bossier shales. The majority of oil and gas activities are centered in Louisiana and Texas.

Opinion: Jerry Jones of Dallas Cowboys fame said this is the best investment he’s ever made. I wonder if he feels that way now. Insiders have been heavy buyers in this name and are now nursing large losses. Natural gas prices are now sitting at lows last seen caused by the Pandemic of 2020. How is this possible?

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

VP of Financial Reporting, Owner Brian Christopher Claunch purchased 5,000 shares at $10.08 of $CRKComstock Resources In...
03/25/2023

VP of Financial Reporting, Owner Brian Christopher Claunch purchased 5,000 shares at $10.08 of $CRK

Comstock Resources Inc is a significant independent natural gas producer focused on the Haynesville shale, a top natural gas region in North Louisiana and East Texas with better economics due to its proximity to Gulf Coast markets. The firm concentrated on building wealth by developing a large inventory of highly profitable and low-risk drilling possibilities in the Haynesville and Bossier shales. The majority of oil and gas activities are centered in Louisiana and Texas.

Opinion: Jerry Jones of Dallas Cowboys fame said this is the best investment he’s ever made. I wonder if he feels that way now. Insiders have been heavy buyers in this name and are now nursing large losses. Natural gas prices are now sitting at lows last seen caused by the Pandemic of 2020. How is this possible?

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

Director/10% Owner, Owner Thurman J Rodgers purchased 129,111 shares at $10.47 of $ENVXEnovix Company is on a quest to f...
03/25/2023

Director/10% Owner, Owner Thurman J Rodgers purchased 129,111 shares at $10.47 of $ENVX

Enovix Company is on a quest to fuel future technology. Enovix was founded in 2007 on the concept that significantly changing battery performance would require redesigning the battery’s architecture. The design enables the use of 100% active silicon and no graphite in the anode of a battery, which is the negative electrode that stores lithium ions when the battery is charged. The benefit of silicon over graphite is that it can potentially store more than twice as much lithium as graphite, increasing a battery’s energy density and total capacity. Since silicon may swell and break in traditional topologies, affecting safety and performance, the battery industry has long struggled to use more than a modest quantity of silicon in the anode. On the other hand, the architecture is intended to accept silicon swelling and apply stack pressure, alleviating the cracking issue.

Opinion: Thurman might strike gold again. He was largely responsible for Enphase’s (ENPH) meteoric rise. Can he catch lightning in a bottle again?

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

Director, Owner Steven B Klinsky purchased 200,000 shares at $11.77 of $NMFCNew Mountain Finance Corporation is a Delawa...
03/25/2023

Director, Owner Steven B Klinsky purchased 200,000 shares at $11.77 of $NMFC

New Mountain Finance Corporation is a Delaware company formed on June 29, 2010, and completed its first public offering. New Mountain Capital has a history of investing in the middle market. New Mountain Capital’s private equity, credit, and net lease investment strategies concentrate on defensive growth firms. The Investment Adviser oversees daily operations and offers investment advising and management services. New Mountain Capital’s private equity, credit, and net lease investment strategies concentrate on defensive growth firms.

Opinion: It’s all part of the same game, be wary of lending. Mr. Klinksy’s strong showing of confidence in his company might stem the bleeding.

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

Chief Financial Officer, Owner Mark J Erceg purchased 76,925 shares at $12.88 of $NWLNewell Brands is a leading global c...
03/25/2023

Chief Financial Officer, Owner Mark J Erceg purchased 76,925 shares at $12.88 of $NWL

Newell Brands is a leading global consumer goods company with a strong portfolio of well-known brands such as Rubbermaid, FoodSaver, Calphalon, Sistema, Sharpie, Paper Mate, Dymo, EXPO, Elmer’s, Yankee Candle, Graco, NUK, Rubbermaid Commercial Products, Spontex, Coleman, Campingaz, Contigo, Oster, Sunbeam, and Mr. Coffee. By bringing pleasure, boosting confidence, and delivering peace of mind, Newell Brands’ well-known products improve and brighten customers’ lives inside and beyond the home. The Corporation sells its goods in approximately 200 countries and operates in more than 40 countries, excluding third-party distributors.

Opinion: Mark just joined the team and I bet somewhere in his employment contract there was a requirement he buys a million dollars worth of stock. I generally ignore this kind of buy from someone filling a new senior management position.

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

10% Owner, Owner Adam K Peterson purchased 49,000 shares at $17.43 of $RMAXRE/MAX was started in 1973 with an innovative...
03/25/2023

10% Owner, Owner Adam K Peterson purchased 49,000 shares at $17.43 of $RMAX

RE/MAX was started in 1973 with an innovative, entrepreneurial culture allowing franchisees and their agents to conduct their companies independently. In the early years of its development in the United States and Canada, the firm expedited the brand’s growth by selling regional franchise rights to independent owners for specific geographic areas, a strategy that continues in nations other than the United States and Canada. The firm is one of the world’s largest real estate franchisors. The firm operates worldwide real estate brokerages under the RE/MAX brand and mortgage brokerages in the United States under the Motto Mortgage brand. The wemlo brand also sells supplementary goods and services to franchise networks, including loan processing services to the Motto network.

Opinion: This might work when the Fed gets off its high horse or Powell gets axed and lets the market determine interest rates, not the Government.

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

Director, Owner Michael B. Nash purchased 50,000 shares at $18.86 of $BXMTBlackstone Mortgage Trust is a real estate fin...
03/25/2023

Director, Owner Michael B. Nash purchased 50,000 shares at $18.86 of $BXMT

Blackstone Mortgage Trust is a real estate financing business based in North America, Europe, and Australia that originates senior loans secured by commercial real estate. The company’s portfolio generally comprises loans secured by high-quality institutional properties in significant markets, which experienced, well-capitalized real estate investment owners and operators sponsor. These senior loans are capitalized using several financing alternatives, including borrowing under credit facilities, issuing CLOs or single-asset securitizations, and syndicating senior loan participations, depending on each investment’s most suitable financing option. The corporation is not purchasing or trading securities and the only securities it owns are the retained interests from securitization financing operations that it did not fund.

Opinion: This looks like the epicenter of the regional bank carnage. Commercial real estate loans combined with duration risk are the banking crisis of 2023.

Full article at: www.theinsidersfund.com/2023/03/bank-execs-picking-over-the-carcasses-insider-buying-picks-up-week-3-17-23

Address

1887 Gold Dust Lane Suite 203 A
Park City, UT
84060

Opening Hours

Monday 9am - 5pm
Tuesday 9am - 5pm
Wednesday 9am - 5pm
Thursday 9am - 5pm
Friday 9am - 5pm

Telephone

+14356581934

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