Smart Money Divergence
Companies where insiders are selling and institutions are reducing positions despite stable or strong fundamentals — a potential warning signal.
The information on this page is for informational purposes only and does not constitute investment advice, financial advice, or any recommendation. Billiver does not recommend buying, selling, or holding any security. Past performance is not indicative of future results.
Data may be delayed and accuracy is not guaranteed. All investment decisions are solely your responsibility. Verify information independently and consult a qualified financial advisor before investing. About · Methodology
Key Insights
50 companies currently show divergence signals. First Solar (FSLR) has the highest-scoring signal at 60/100. The average signal strength across all detections is 60/100. Data sourced from SEC EDGAR Form 4, 13F, and 10-K/10-Q filings. Signal scores are for informational purposes only and do not constitute investment advice.
Why This Matters
Divergence signals capture coordinated position reduction by both insiders and institutions. While insider selling often has innocent explanations like diversification or tax planning, simultaneous institutional reduction alongside stable financials suggests informed parties may anticipate challenges not yet visible in public financial statements.
Moderate divergence is observed across 50 companies, with an average signal strength of 60/100.
Divergence occurs when insider selling (Form 4) and institutional position reduction (13F) coincide despite stable or improving fundamentals. While insider selling frequently has innocent explanations — tax planning, portfolio diversification, or pre-planned 10b5-1 transactions — coordinated selling by both insiders and institutions alongside strong financials may indicate that informed parties anticipate challenges not yet visible in public financial statements.
Form 4 filings are required to be filed within 2 business days of a transaction. 13F filings are reported quarterly with up to 45-day delay. 10-K/10-Q filings are quarterly. Signal data reflects the most recent available filings and may not capture very recent activity. All data is sourced from SEC EDGAR public filings.
- -Currently tracking 50 divergence signals
50 Companies with Divergence Signals
Insider data from Form 4 filings (typically filed within 2 business days of transaction). Institutional data from 13F filings (reported quarterly, up to 45 days after quarter end). Fundamentals from 10-K/10-Q filings (quarterly). Signals are recalculated as new filings become available.
| # | Company | Score | Insider Sells | Inst. Net Sellers | Rev. Growth | Signal Date |
|---|---|---|---|---|---|---|
| 1 | FSLRFirst Solar | 60 | - | - | - | Jun 3, 2026 |
| 2 | TXNTexas Instruments | 60 | - | - | - | Jun 3, 2026 |
| 3 | FIXComfort Systems USA | 60 | - | - | - | Jun 3, 2026 |
| 4 | GLWCorning Inc. | 60 | - | - | - | Jun 3, 2026 |
| 5 | VICRVicor Corporation | 60 | - | - | - | Jun 3, 2026 |
| 6 | INODINNODATA INC | 60 | - | - | - | Jun 3, 2026 |
| 7 | LTHLife Time Group Holdings, Inc. | 60 | - | - | - | Jun 3, 2026 |
| 8 | NVTnVent Electric plc | 60 | - | - | - | Jun 3, 2026 |
| 9 | INODINNODATA INC | 60 | - | - | - | Jun 2, 2026 |
| 10 | GLWCorning Inc. | 60 | - | - | - | Jun 2, 2026 |
| 11 | TXNTexas Instruments | 60 | - | - | - | Jun 2, 2026 |
| 12 | LTHLife Time Group Holdings, Inc. | 60 | - | - | - | Jun 2, 2026 |
| 13 | NVTnVent Electric plc | 60 | - | - | - | Jun 2, 2026 |
| 14 | FIXComfort Systems USA | 60 | - | - | - | Jun 2, 2026 |
| 15 | VICRVicor Corporation | 60 | - | - | - | Jun 2, 2026 |
| 16 | VICRVicor Corporation | 60 | - | - | - | Jun 1, 2026 |
| 17 | TXNTexas Instruments | 60 | - | - | - | Jun 1, 2026 |
| 18 | FSLRFirst Solar | 60 | - | - | - | Jun 1, 2026 |
| 19 | FIXComfort Systems USA | 60 | - | - | - | Jun 1, 2026 |
| 20 | NVTnVent Electric plc | 60 | - | - | - | Jun 1, 2026 |
| 21 | LTHLife Time Group Holdings, Inc. | 60 | - | - | - | Jun 1, 2026 |
| 22 | NVTnVent Electric plc | 60 | - | - | - | May 31, 2026 |
| 23 | FIXComfort Systems USA | 60 | - | - | - | May 31, 2026 |
| 24 | VICRVicor Corporation | 60 | - | - | - | May 31, 2026 |
| 25 | TXNTexas Instruments | 60 | - | - | - | May 31, 2026 |
| 26 | FSLRFirst Solar | 60 | - | - | - | May 31, 2026 |
| 27 | LTHLife Time Group Holdings, Inc. | 60 | - | - | - | May 30, 2026 |
| 28 | NVTnVent Electric plc | 60 | - | - | - | May 30, 2026 |
| 29 | FSLRFirst Solar | 60 | - | - | - | May 30, 2026 |
| 30 | GLWCorning Inc. | 60 | - | - | - | May 30, 2026 |
| 31 | FIXComfort Systems USA | 60 | - | - | - | May 30, 2026 |
| 32 | TXNTexas Instruments | 60 | - | - | - | May 30, 2026 |
| 33 | TXNTexas Instruments | 60 | - | - | - | May 29, 2026 |
| 34 | NVTnVent Electric plc | 60 | - | - | - | May 29, 2026 |
| 35 | GLWCorning Inc. | 60 | - | - | - | May 29, 2026 |
| 36 | FSLRFirst Solar | 60 | - | - | - | May 29, 2026 |
| 37 | GLWCorning Inc. | 60 | - | - | - | May 28, 2026 |
| 38 | NVTnVent Electric plc | 60 | - | - | - | May 28, 2026 |
| 39 | VICRVicor Corporation | 60 | - | - | - | May 28, 2026 |
| 40 | FSLRFirst Solar | 60 | - | - | - | May 28, 2026 |
| 41 | LTHLife Time Group Holdings, Inc. | 60 | - | - | - | May 28, 2026 |
| 42 | NVTnVent Electric plc | 60 | - | - | - | May 27, 2026 |
| 43 | VICRVicor Corporation | 60 | - | - | - | May 27, 2026 |
| 44 | TXNTexas Instruments | 60 | - | - | - | May 27, 2026 |
| 45 | FSLRFirst Solar | 60 | - | - | - | May 27, 2026 |
| 46 | FIXComfort Systems USA | 60 | - | - | - | May 27, 2026 |
| 47 | LTHLife Time Group Holdings, Inc. | 60 | - | - | - | May 27, 2026 |
| 48 | LTHLife Time Group Holdings, Inc. | 60 | - | - | - | May 25, 2026 |
| 49 | FSLRFirst Solar | 60 | - | - | - | May 25, 2026 |
| 50 | VICRVicor Corporation | 60 | - | - | - | May 25, 2026 |
What Is Smart Money Divergence?
Smart money divergence occurs when corporate insiders sell shares (Form 4) and institutional investors reduce their positions (13F) despite the company maintaining stable or strong fundamentals. While insider selling can have many innocent explanations (tax planning, diversification), combined institutional selling alongside strong financials may suggest that those closest to the company anticipate challenges not yet visible in the financial statements.
Insider trading data from SEC EDGAR Form 4 filings. Institutional holdings from quarterly 13F filings. Financial fundamentals from 10-K and 10-Q filings. All data is public domain and does not constitute investment advice.
Signal Score Methodology
Each signal receives a score from 0 to 100 based on the following components. Only signals scoring 40 or above are shown. Scores are computed from public SEC filing data and are for informational purposes only.
Number of unique insiders selling shares (Form 4). More sellers = higher score.
Net institutional sellers from 13F filings. More net sellers = higher score.
Despite selling, fundamentals remain strong (revenue growth >10%, margin >10%).
Minimum display threshold: 40/100. Data sources: SEC Form 4 (insider trades), 13F (institutional holdings), 10-K/10-Q (fundamentals). All data is public domain.
Other Signal Types
Related
Frequently Asked Questions
What are smart money signals?
Smart money signals are cross-referencing indicators that combine multiple SEC filing data sources — insider trading (Form 4), institutional holdings (13F), and financial fundamentals (10-K/10-Q) — to identify stocks where well-informed investors are acting with conviction. When insiders, institutions, and financial metrics all point in the same direction, it may indicate meaningful information about a company's prospects.
How are smart money signals calculated?
Signals are computed by combining three independent data sources from SEC EDGAR: (1) insider buying/selling from Form 4 filings (last 30 days), (2) institutional ownership changes from 13F filings (quarterly), and (3) fundamental metrics from 10-K/10-Q filings (revenue growth, profit margins). Each signal type has a score from 0-100 based on the strength and alignment of these factors.
How often are smart money signals updated?
The underlying data updates at different frequencies: insider trading data (Form 4) is typically filed within 2 business days of a transaction, institutional holdings (13F) are filed quarterly within 45 days of quarter end, and financial fundamentals update with each quarterly earnings filing. Signal calculations run regularly to incorporate the latest available data.
What does a convergence signal mean?
A convergence signal indicates that corporate insiders are buying shares, institutional investors are increasing their positions, and the company's financial fundamentals are improving — all at the same time. This triple-positive alignment from three independent sources suggests broad agreement among well-informed parties that the stock offers value.
Should I buy stocks based on smart money signals?
No. Smart money signals are informational tools, not investment recommendations. While they highlight interesting patterns in SEC filing data, they should be one of many inputs in your research process. Insider selling can have innocent explanations, institutional moves may lag reality by 45+ days, and past patterns do not predict future returns. Always do your own research before making investment decisions.