How it Works

The Data

We ingest Form 4 filings from the SEC EDGAR system. Historical coverage extends back to the third quarter of 2003. Both purchases and sales by officers, directors, and 10% owners are included. Daily updates capture new filings.

Data is cleaned and structured for analysis. Residual gaps exist for certain non-standard securities (preferred shares, warrants, units, etc.); these are known and accepted for the Alpha period.

Clusters

The system groups related Form 4 activity into clusters based on ticker, time window, direction (purchase or sale), and other criteria you control. You can examine purchase clusters, sale clusters, or both.

Context & Filters

  • Filter by minimum transaction value, minimum number of insiders, look-back window, market-cap range, sector, and IPO age.

  • View company profile data (where available) and direct links to the underlying SEC filings.

  • Run simple historical performance checks on past clusters (backtest module available to Alpha users).

What This Tool Is Not

Nugget Prospector does not:

  • Predict future returns

  • Issue buy or sell recommendations

  • Guarantee any investment outcome

  • Replace your own research, risk management, or judgment

Insider trading activity is one data point among many. Academic studies show modest average effects with wide variation; individual results differ and past patterns do not reliably persist.