InsiderBuying Conviction Index
A rules-based index of companies that clear a downside-protection screen and show real insider conviction. Built only from public disclosures and as-reported financial statements, scored on what was knowable on each date, and reconstituted quarterly.
Reconstructed history. Levels dated before this index began publishing are a reconstruction: the same rules applied after the fact to point-in-time data — the filings and statements that were public on each date, and the universe as it was listed then, including companies later delisted. No allowance is made for trading costs, and no money was managed to these levels. Treat reconstructed figures as hypothetical.
Index level
Base 1000 at inception (Mar 31, 2023). The index holds no cash buffer and applies no tranche or liquidity logic; those belong to a managed portfolio, not to a published index.
Constituents
| Company | Sector | Sleeve | Weight |
|---|---|---|---|
 CTAS | Industrials | Core | 5.38% |
 BSM | Crude Petroleum & Natural Gas | Contrarian | 4.88% |
 ALLE | Services-Detective, Guard & Armored Car Services | Contrarian | 4.30% |
 CW | Misc Industrial & Commercial Machinery & Equipment | Core | 3.79% |
 ALSN | Motor Vehicle Parts & Accessories | Core | 3.72% |
 CR | Miscellaneous Fabricated Metal Products | Core | 3.69% |
 CNS | Investment Advice | Contrarian | 3.49% |
 CARG | Services-Computer Processing & Data Preparation | Core | 3.38% |
 APH | Technology | Core | 3.18% |
 ENS | Miscellaneous Electrical Machinery, Equipment & Supplies | Core | 3.12% |
 APPF | Services-Prepackaged Software | Core | 3.08% |
 BDC | Technology | Core | 3.05% |
 ACEL | Services-Amusement & Recreation Services | Small capCore | 2.98% |
 APEI | Consumer Defensive | Small capCore | 2.92% |
 CGNX | Technology | Core | 2.87% |
 BLBD | Truck & Bus Bodies | Core | 2.80% |
 DECK | Rubber & Plastics Footwear | Core | 2.79% |
 DXCM | Surgical & Medical Instruments & Apparatus | Contrarian | 2.78% |
 CTSH | Services-Computer Programming Services | Contrarian | 2.77% |
 CSW | Adhesives & Sealants | Core | 2.75% |
 ATMU | Consumer Cyclical | Contrarian | 2.70% |
 DRS | Search, Detection, Navigation, Guidance, Aeronautical Sys | Contrarian | 2.69% |
 ALG | Farm Machinery & Equipment | Small capCore | 2.65% |
 ECG | Operative Builders | Core | 2.62% |
 BSX | Surgical & Medical Instruments & Apparatus | Contrarian | 2.60% |
 CVCO | Mobile Homes | Core | 2.53% |
 CMC | Basic Materials | Contrarian | 2.48% |
 CMCL | Basic Materials | Small capContrarian | 2.26% |
 ALHC | Hospital & Medical Service Plans | Core | 2.23% |
 DUOL | Services-Prepackaged Software | Core | 2.09% |
 CNM | Industrials | Core | 2.02% |
 AMD | Semiconductors & Related Devices | Core | 1.94% |
 CELH | Bottled & Canned Soft Drinks & Carbonated Waters | Contrarian | 1.77% |
 CAVA | Retail-Eating Places | Core | 1.68% |
Two gates decide membership. The first is absolute: more assets than debt, a healthy current ratio and interest coverage, growing revenue, free cash flow that is positive or clearly improving, and enough size and traded volume to be buyable. A company failing any one of them is ineligible regardless of anything else. The second scores insider conviction over 24 months of filings, weighting the last six months most heavily, counting open-market purchases as the dominant signal and excluding planned sales entirely, because a scheduled sale says nothing about conviction.
The InsiderBuying Conviction Index is published as information, not investment advice, and is not an offer of any fund or managed product. It is built only from public disclosures — SEC Form 4 and SEDI filings, and as-reported financial statements — using rules applied to point-in-time data. Current InsiderBuying agency and IR clients are excluded from the index by rule, and for six months after an engagement ends.