The S&P 500 rises 0.46% on September 2

The ranking is recomputed every session, and this is what moved from one to the next. Next to each move is the factor that produced it: momentum changes every day, value whenever the price does, and quality and growth only when new accounts come in. Why the price moved is not in this data, so it is not told.

The biggest moves in the whole index: ZBRA climbs 62 places, from #361 to #299 (Momentum 4.2 → 4.8) and GWW drops 42 places, from #171 to #213 (Momentum 6.2 → 5.7).

Source: rankings_diarios.json.gz · rank by multi-factor (the average of the four), across the 466 companies with all four computed · scores on the 0-10 scale used on company pages, where 5 is the index average. See all 500 scored →

The section above shows the ranking moving; almost always it is the price moving it. This is the other thing: a quarterly or annual report rewrites value, quality and growth at once, and those are audited accounts, not a quote. Here is the before and after, on the 0-10 scale used on company pages, where 5 is the index average.

Filing date on EDGAR, not the quarter end. Scores come from the rankings calendar: the same ones each company page publishes. No opinion on the results, only the measured effect.

The rare thing on a Form 4 is a purchase. The largest on September 1, 2026: Burke James A, President and CEO at Vistra, bought 4,465 shares at $135.25 (0.60 million dollars), code P, meaning on the open market and with their own money. see the Form 4 →

A buying campaign, not a trade. Cascade Investment, L.L.C., Gates William H Iii, 10% Owner at Republic Services, has bought on 16 consecutive trading sessions, Aug 10, 2026 to Aug 31, 2026: 3,683,545 shares for 807.6 million dollars, and after the last one declares 114,487,527 shares held. see the latest Form 4 → It is the largest by money of the 11 runs of three or more consecutive sessions in the Form 4 filings downloaded between Aug 25, 2025 and Sep 2, 2026. That someone buys says nothing about where the price goes: what is checkable is that they filed it with the SEC session after session.

3 purchases were filed that day across 3 companies. Over the 17 days the file covers, Aug 17, 2026 to Sep 2, 2026, there are 97 purchases worth 853 million dollars across 37 companies, against 994 sales: which is why a purchase gets told and a sale gets tabulated. The largest of the whole window was RSG, 67.24 million on August 24, 2026.

The biggest sale of the day tells you nothing. Stevens Mark A, of Nvidia, sold 268.0 million dollars of stock and still holds 29,921,132 shares: that is 3.86% of the position.

Of the 3 sales filed that day, 1 was discretionary and 2 scheduled. The largest as a share of holding was scheduled, so today the list does not start with a discretionary decision.

Source: Form 4 filings with the SEC · alertas_insiders.json, session of Sep 2, 2026. Every name links to its filing on EDGAR: the claim and the proof on the same line.

The context over those same 17 days: 994 sales worth 4,742 million dollars (2 with no declared price, outside that total), of which 442 were discretionary, and of those 138 exceeded 25% of the seller's position. That is where to look.

All five beat the benchmark (+467.6%) on cumulative return over fifteen years, but cumulative return is not the proof: the benchmark carries the bias explained below. The weakest is Value 100, with an alpha of -1.28%: negative, meaning what it earns does not pay for the market risk it takes to earn it. Publishing the figure that comes out worst is the only reason the others deserve any credit.

Source: carteras.json · index based at 100 on Mar 4, 2011. Walk-forward with point-in-time data: on each date scoring uses only prices up to that day and fundamentals already filed with the SEC. 185 rebalances through Aug 17, 2026.

Over the past month the value portfolio gained +0.44% while momentum lost -0.39%. Across that six-month window the benchmark rose 9.7%, so this is not the whole market moving: it is a rotation inside one.

The extreme of the series is July 9, 2020, six years ago, at +30.2 points. And what happened after each extreme? Counted, not assumed: of the 4 extremes in momentum's favor with enough data after them, in 3 the lead had flipped sign six months later; of the 5 extremes in value's favor, in 4. That is a count over 9 episodes, not a rule.

Computed from carteras.json · 185 monthly rebalances between Apr 4, 2011 and Aug 17, 2026 (fifteen years) · 179 overlapping windows of 6 rebalances · recent stretch: the last 24 rebalances, the shortest run that still holds 4 non-overlapping windows.

With the rank and the score they carry before reporting. Section 03 will publish the after once the document reaches EDGAR, which is zero to three days later: the press release does not move our scores, the filed accounts do.

Source: calendario_resultados.json · Nasdaq public earnings calendar. Earnings date announced by each company, not the SEC filing date, which is not published in advance. Scores from the Sep 2, 2026 ranking.

• What insiders did yesterday. Form 4 can be filed up to two business days after the trade, so the freshest data is always the day before last.
• Whether value keeps winning. Fifteen years and 185 rebalances are not enough to claim a factor mean-reverts. We can describe what happened, not what comes.
• What any company is worth. This report computes no price targets. No Monte Carlo, no DCF, no fair value. When you see one elsewhere, ask which cost of capital discounted it and who chose that number.
• Whether the S&P rises tomorrow. We measured it and the direction model does not beat saying "up" every day. There is no signal, so we don't sell one. The figures appear in section 01 whenever there is a call for the day.