🐢 **Dataroma: Insider Buying Clusters in TSM & First Citizens Even as Megacap Holdings Sit Near Lows**
Dataroma's tracker shows the heaviest insider buying among superinvestor holdings over the past three months concentrated in Taiwan Semiconductor (79 separate buys) and First Citizens BancShares (51 buys, including a 16-purchase cluster on June 8 near $1,730-$2,065/share), even as several of the most widely held megacaps in superinvestor portfolios — Microsoft, Netflix, Intuit, BlackRock itself — sit within roughly 5-6% of their 52-week lows, despite BlackRock's June 29 commentary arguing the AI-driven tech rally is 'grounded in fundamentals.'

**Why it matters:** The contrast between concentrated insider/superinvestor accumulation in select AI-linked and regional-bank names and broad megacap weakness echoes PIMCO's 'Rupture and Resilience' framing of 2026 as a year of divergence beneath a calm market surface rather than a uniform rally.
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