From January 1, 2025 through March 31, 2026, named officers sold $46.12 billion of their own companies' stock and bought $2.03 billion. Sellers outpaced buyers roughly 23 to 1.
That does not make every sale suspicious. Executives diversify, sell under pre-set plans, pay taxes, and fund personal obligations. But the public Form 4 tape tilted heavily toward selling. The buy side is concentrated in a few huge rows. The sell side is broader, deeper, and led by multi-billion-dollar clusters.
- Window
- 15 months
- Officer sales
- $46.12B
- Officer buys
- $2.03B
- Imbalance
- 23 to 1
January 1, 2025 through March 31, 2026.
Open-market sales by named officers in the captured Form 4 set.
Open-market purchases by named officers in the same window.
Approximate ratio of officer selling to officer buying.
The buy side is top-heavy
Elon Musk's Tesla purchase alone accounts for nearly half the total buy side. Stephen Schwarzman and Dustin Moskovitz make the top three. After that, the ranking falls quickly into the tens of millions and then single-digit millions.
Elon Musk
The largest row on this side of the Form 4 ledger.
- Total
- $999.96M
- Ticker
- TSLA
- Window
- Sep. 12, 2025
Stephen Schwarzman
- Total
- $554.90M
- Ticker
- BX
- Window
- May 1, 2025 to Mar. 20, 2026
Dustin Moskovitz
- Total
- $142.68M
- Ticker
- ASAN
- Window
- Mar. 13, 2025 to Aug. 21, 2025
Scott Nuttall + Joseph Bae
- Total
- $34.43M
- Ticker
- KKR
- Window
- Feb. 17, 2026 to Feb. 27, 2026
Ryan Cohen
- Total
- $32.13M
- Ticker
- GME
- Window
- Apr. 3, 2025 to Jan. 21, 2026
Lachlan Murdoch
- Total
- $10.63M
- Ticker
- FOX
- Window
- Mar. 13, 2026
Nikesh Arora
- Total
- $10.00M
- Ticker
- PANW
- Window
- Mar. 27, 2026
Gary Dickerson
- Total
- $6.87M
- Ticker
- AMAT
- Window
- Apr. 3, 2025
Tom Leighton
- Total
- $6.61M
- Ticker
- AKAM
- Window
- Feb. 27, 2025 to Aug. 11, 2025
Mahkam Zanganeh + Robert Duggan
- Total
- $6.48M
- Ticker
- SMMT
- Window
- Sep. 10, 2025 to Oct. 21, 2025
The sell side is broader
Amazon leads the seller list at $5.76 billion, with Jeff Bezos accounting for nearly all of it. Blackstone follows at $2.76 billion, which puts Schwarzman in the unusual position of appearing near the top of both lists in the same window.
Jeff Bezos + 5 more officers
The largest row on this side of the Form 4 ledger.
- Total
- $5.76B
- Ticker
- AMZN
- Window
- Feb. 12, 2025 to Mar. 2, 2026
Stephen Schwarzman + 2 more officers
- Total
- $2.76B
- Ticker
- BX
- Window
- May 8, 2025 to Mar. 17, 2026
George Roberts + Henry Kravis
- Total
- $2.57B
- Ticker
- KKR
- Window
- Mar. 5, 2025 to Oct. 22, 2025
Vlad Tenev + Baiju Bhatt + 2 more officers
- Total
- $1.67B
- Ticker
- HOOD
- Window
- Jan. 2, 2025 to Mar. 20, 2026
Jensen Huang + 3 more officers
- Total
- $1.29B
- Ticker
- NVDA
- Window
- Jan. 6, 2025 to Jan. 21, 2026
Nikesh Arora + 3 more officers
- Total
- $1.21B
- Ticker
- PANW
- Window
- Jan. 2, 2025 to Jan. 8, 2026
Henry Samueli + 6 more officers
- Total
- $1.14B
- Ticker
- AVGO
- Window
- Jan. 2, 2025 to Mar. 25, 2026
Frank Slootman + 4 more officers
- Total
- $1.10B
- Ticker
- SNOW
- Window
- Jan. 6, 2025 to Mar. 10, 2026
Joseph Gebbia + 4 more officers
- Total
- $1.02B
- Ticker
- ABNB
- Window
- Jan. 2, 2025 to Mar. 9, 2026
Herald Chen + 3 more officers
- Total
- $895.94M
- Ticker
- APP
- Window
- Feb. 28, 2025 to Mar. 10, 2026
What the gap can and cannot tell you
The useful signal is direction and scale. Purchases require an executive to put fresh cash into the stock. Sales move the other way, but they can have ordinary explanations. A single Form 4 is rarely a verdict.
The aggregate is harder to ignore. If officers are buying $2.03 billion and selling $46.12 billion across the same window, the question is not whether every sale had a benign explanation. The question is why the buying ledger is so much thinner.
Method note
This analysis uses officer-level open-market buys and sells from SEC Form 4 disclosures. Purchases are Form 4 purchase transactions (code P, acquire coding); sales are Form 4 sale transactions (code S, dispose coding). Tax-withholding and option-exercise transactions are excluded. The top-10 seller ranking also excludes sales routed through dedicated philanthropy vehicles; Zuckerberg's $944 million of Meta sales in this window were all effected by the Chan Zuckerberg Initiative.
This article expands our published Voronoi chart. For related filing-backed context, compare the transaction tape with our stock-grant analysis and the grant chronology in Fastest Grant-to-Sale Sprints. For the pay-alignment angle, see 71 Companies Where the Board Raised CEO Pay While the Stock Fell and the live pay-misalignment ranking.