🏗️ Wednesday, May 13, 2026 — Tape Report
Wednesday's $902.6M session continued the week's normalization from Monday's $1.6B PE-anchored outlier, while the underlying rotation themes became more defined. The broad sell-to-buy ratio held near 3:1 for the third consecutive session, confirming sustained distribution. But beneath the headline ratio, the intelligence engine flagged two back-to-back sessions of insider accumulation in the residential construction supply chain — a pattern that doesn't emerge from noise. Paired with a $4.5M C-suite buy cluster at TKO Group Holdings, Wednesday delivered the clearest buy-side conviction signal of the week.
Wednesday Insider Tape — May 13, 2026
Total Volume
$902.6M
Total Trades
828
Buys
68
Sells
193
Notable Buying
$RSG$ARTV$VRDN
Notable Selling
$HHH$P$CRWV
The Housing Infrastructure Rotation — Two Sessions, One Theme
🏗️ Two-Day Conviction Pattern — Residential Supply Chain
Insiders Accumulating Housing Infrastructure on Back-to-Back Sessions
Tuesday May 12
$IBP
Installed Building Products
4
Insiders
$809.6K
Volume
Wednesday May 13
$MRP
Millrose Properties
3
Insiders
$6.5M
Volume
The macro thread: Installed Building Products ($IBP) is a residential and commercial insulation installer — direct exposure to housing construction activity. Millrose Properties ($MRP) is a homesite option platform, operating as a land banking intermediary that provides finished homesites on a just-in-time basis to major residential homebuilders including Lennar. These two names operate at adjacent layers of the same supply chain: Millrose provides the entitled land, IBP installs the insulation once construction begins. Back-to-back multi-insider accumulation clusters in names that are structurally linked to the same residential construction demand environment — in a week otherwise dominated by tech and AI distribution — is the kind of cross-session pattern the engine is designed to surface.
$TKO — C-Suite Conviction in Live Entertainment
🏆 C-Suite Conviction Cluster — CEO + President
$TKO
TKO Group Holdings — WWE & UFC
3
Insiders
$4.5M
Combined
Buy
Direction
TKO Group Holdings controls two of the most durable live-entertainment franchises in the world — WWE and UFC. These properties share structural characteristics that are genuinely rare in the current media landscape: live content that cannot be time-shifted, passionate global fanbases with consistent renewal characteristics, and premium media rights that have appreciated significantly with every new rights cycle. When the CEO and President of a company with this asset base deploy $4.5M of their own capital concurrently, they are making an explicit statement about their view of the current price relative to intrinsic value. This is not a compensation program vesting event — this is discretionary C-suite accumulation from the executives who set the strategic direction of the business.
3 Insiders — TKO Leadership
Emanuel Ariel (CEO)SHAPIRO MARK S (President)Schleimer Andrew M
AI / Tech Distribution — $CRWV & $CRWD
📉 Third Consecutive Week — AI Distribution Continues
$CRWV
CoreWeave, Inc.
Top Sell
For the third consecutive week, CoreWeave surfaces as a top insider sell by volume. The multi-week distribution intensity confirms IPO-stage paper gains are being systematically converted to cash. Pattern active since April 22.
$CRWD
CrowdStrike Holdings
$7.82M
2 insiders including CEO George Kurtz executed a concurrent $7.82M exit — the second consecutive session of $CRWD insider selling. Cybersecurity sector executives utilizing all-time high prices for structured liquidity.
Congressional Flow — Passive Maintenance
🏛️ Congressional Activity — May 13, 2026
Nine trades totaling $96.5K. The buy-side was exclusively broad market ETFs.
$SPY
S&P 500 (SPDR)
$SPYG
S&P 500 Growth
$SPYV
S&P 500 Value
At $96.5K total across 9 trades, this is routine portfolio maintenance rather than a strategic signal. The more analytically relevant observation is what it confirms by contrast: Monday's $19.1M in surgical single-stock deployment ($SPGI accumulation, semiconductor exits) was a discrete, concentrated event — not the beginning of a sustained high-volume political trading cycle. The sells on Wednesday ($AMT, $SPDW, $IEI) are also consistent with rebalancing rather than sector-specific views. Political flow has normalized.
Week Tracker — May 11–15, 2026
Week of May 11–15, 2026
Three Sessions In — $3.3B Cumulative · Housing Rotation Emerging
Mon 5/11
$1.6B
$LTH $496M · $19.1M Congress · $SPGI
Tue 5/12
$863.5M
$CSCO 7-cluster · $IBP buy · $HUBS buy
Wed 5/13
$902.6M
$MRP buy · $TKO C-suite · $CRWV Day 3
Thu 5/14
—
Pending
Fri 5/15
—
Pending
Three-Day Read
Cumulative week volume: ~$3.3B across three sessions. Sell ratio has held near 2.8–3:1 consistently — the distribution phase is structurally intact. The emerging counter-trend is the residential construction supply chain accumulation: $IBP Tuesday, $MRP Wednesday, both multi-insider clusters into the same macro thesis. $TKO adds a second independent accumulation thread in premium live entertainment. Whether these buy clusters represent leading indicators of a broader rotation or isolated conviction trades depends on how Thursday and Friday develop.
← Previous Session
Tuesday May 12 — The Political Hangover & The 7-Executive $CSCO Distribution 📡
→
$IBP Tuesday. $MRP Wednesday.
Two Sessions. One Housing Thesis.
InsiderPopup surfaces cross-session patterns across thousands of Form 4 filings — connecting the dots between adjacent supply chain names before the rotation becomes a headline.
🍎 Download InsiderPopup FreeDisclaimer: This report is for informational and educational purposes only and does not constitute financial, investment, or legal advice. Insider trading data represents historical SEC filings and is not predictive of future stock performance. Conviction cluster analysis reflects breadth of Form 4 filings on a given date and does not imply coordinated activity. We do not guarantee accuracy or completeness of the data provided. You should conduct your own due diligence. The author and InsiderPopup are not responsible for any financial losses.