SMITH BRADFORD L, Vice Chair and President, has demonstrated a pronounced selling bias across holdings in Microsoft Corporation (MSFT) and Netflix, Inc. (NFLX), with $75.5 million in total sales compared to just $1.76 million in purchases over 37 transactions. The most significant disposals occurred in MSFT, including two sales on November 3, 2025, totaling $19.97 million, followed by two transactions on September 2, 2025, each valued at $12.66 million. More recently, on March 2, 2026, SMITH executed two sales of MSFT shares worth $1.41 million each. NFLX sales were concentrated on January 15, 2026, with three transactions: one for $1.82 million, another for $998,036, and a smaller sale of $2,696. The remaining NFLX transactions were either awards or minor dispositions under $62,600.
Notably, SMITH has not reported any open-market purchases in recent filings, with all buy activity occurring earlier in the dataset. The pattern suggests a consistent reduction in exposure to both MSFT and NFLX, particularly through high-value sales in late 2025 and early 2026. While some transactions, such as the March 2 MSFT sales, were smaller in scale, the overall trend points to a strategic unwinding of positions rather than routine portfolio rebalancing. The absence of buys since at least August 2025 further reinforces this directional bias.
AI-assisted summary