Cleveland Todd M has demonstrated a clear selling bias across two companies—IESC (Integrated Electrical Services) and PATK (Patrick Industries)—with $25.9 million in total sales against $2.8 million in purchases, based on SEC Form 4 filings. The most recent activity has been concentrated in IESC, with 17 sales between February 24 and March 4, 2026, totaling approximately $3.6 million. These transactions ranged from $50,150 to $1.09 million, with the largest single sale occurring on February 25, 2026. Prior to this, Cleveland divested a significant portion of holdings in PATK in early 2024, including a $2.28 million sale on February 29 and a $1.03 million transaction on March 1. The only recorded buys were related to PATK in early 2024, including a $2.81 million acquisition on February 12.
The pattern suggests a strategic reduction in exposure to both companies, particularly IESC, where all recent transactions have been sales. The absence of any buys in IESC since at least late 2025 contrasts with the earlier PATK activity, where purchases and sales occurred closer together. While the sales in IESC have been frequent but smaller in scale compared to the earlier PATK disposals, the consistency of the selling trend—without offsetting acquisitions—indicates a sustained move to liquidate positions rather than rebalance. The transactions do not appear tied to a single liquidity event, given the staggered timing across multiple days and varying dollar amounts.
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