About the data
What the app reads, how it reads it, how filings are matched and scored, and what it leaves out. Every number on the site traces back to this.
What is read
- SEC Form 4. Every filing, within about a minute of the SEC accepting it, from EDGAR's live index. Open-market purchases and sales by officers, directors and 10% owners are kept; the rest is labelled or left out.
- SEC Form 144. The notice an insider must file before selling restricted or control shares above a small threshold. Read the minute it's accepted, matched later to the Form 4 that reports the sale.
- Schedules 13D and 13G. Stakes of 5% or more, read when filed and shown on each stock's page as a big stake.
- Congress. Periodic transaction reports from the House and Senate disclosure sites, checked every few minutes; each trade keeps the day it happened, the day it was reported and the gap, with stocks and options told apart.
- Hyperliquid. The public API's leaderboard and each top trader's positions, polled every minute, so a change in a position is noticed within a minute or two.
Timing, measured not claimed
For every alert the app keeps the time the SEC accepted the filing and the time the alert left. The median and the 95th percentile for the last seven days are on the status page, and the homepage reads the same number. The Form 144 head start is measured the same way on every matched pair; the study shows the distribution and the pairs.
Scoring and labels
Each open-market buy of $25,000 or more gets a score out of 100 from the filing alone, fixed when it arrives. Sales are labelled with the share of the insider's stake sold and whether they were under a scheduled 10b5-1 plan. Cluster buys (three or more insiders within ten days) and late filings are flagged. Congress trades carry their reporting lag and whether the asset is a stock, an option or something else.
Records
Every alerted buy is followed for a month: the close one day, one week and one month after the filing, wins and losses both, on the public track record. A copier's record is measured from the price when the copy was placed against the S&P 500 over the same days. Nothing is removed from a record once it's in.
Limits
The data is only as good as the filings: insiders file late, Congress members file very late, tickers are sometimes missing or wrong on the form, and an amended filing replaces its original. Prices are daily closes, not the price you'd have got. None of it is advice, and no number on the site is a prediction.
Get the data
The files behind the studies are on the open data page, as CSV with a source link on every row, and the public endpoints are listed there too.
Questions
Do you ever change a number after the fact?
Scores are fixed when the filing arrives and never recomputed, so the record can't be flattered. Prices used for "what the stock did after" are filled in as the days pass and then left alone. A filing that the SEC marks as amended replaces the original and is labelled.
What is left out?
Form 4 transactions that aren't open-market trades: option exercises, grants, gifts, tax withholding, and transfers between an insider's own accounts. Buys under $25,000. Trusts and funds that file as insiders, where no person is behind the trade. Congress rows whose trade date is unreadable keep the trade but no lag.
How is a Form 144 matched to its sale?
Same seller, same company, the Form 4 filed within the notice's three-month window (or up to three days before it, which happens when a sale is reported before the notice is accepted). No fuzzy matching. Each pair's two filings are linked so anyone can check.
What is the score?
A number out of 100 computed from the filing alone: who bought, how much their stake grew, the size of the trade, whether other insiders bought within ten days, where the price sat in its 52-week range, and whether it was a first or a routine buy. The formula, factor by factor, with its record.
Where do prices come from?
Daily closes from a market-data provider, stored once per ticker per day. Returns after a buy are from the filing-day price to the close one day, one week and one month later; a copy's return is from the price when it was placed. None of it includes dividends or the cost of trading unless the page says so.
For information only, from public filings. Not investment advice. Disclaimer