Laurette T. Koellner’s SEC Form 4 filings reveal a clear pattern of accumulation in two stocks—Papa John’s International (PZZA) and Celestica Inc. (CLS)—with a strong bias toward buying over selling. Across 25 transactions, Koellner has executed $2.22 million in buys compared to just $202,624 in sales, with recent activity skewing further toward acquisitions. Notably, four of the last five trades were purchases, including three acquisitions of PZZA shares on February 20, 2026, totaling $10,953.36, following a similar pattern in late 2025. The only recent sale was a $202,624 disposition of PZZA stock in March 2024, which stands as an outlier in an otherwise consistent buying trend.
Koellner’s largest transactions involve CLS, with four purchases on October 30, 2025, amounting to $2.05 million, dwarfing the smaller, recurring acquisitions of PZZA shares. The PZZA buys, typically in the low thousands per transaction, appear methodical, with multiple acquisitions clustered around quarterly intervals (e.g., February, May, August, and November 2025). While the CLS trades suggest concentrated investment, the PZZA activity resembles steady accumulation, with no sales since early 2024. The absence of material selling in either stock over the past two years reinforces a long-term holding strategy.
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