Richard F. Conway

CDZI

INSIDER · CADIZ INC · CIK 0001299904

FILING MIX · LIFETIME60%/40%

BUYS

SELLS

TOTAL VALUE

$16.90M

COMPANIES

ACTIVE SINCE

Mar 2020

HOLDINGS NOW

26,441,360

AVG SELL PX

—

Trades · vs SPY

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Performance · forward returns vs SPY

2 backtested trades · 8 horizons

Forward-return performance of every backtestable P/S trade by Richard F. Conway, measured at 8 horizons from 7 days to 2 years. Deduped per economic event so co-filings count once. Excess return = trade return minus SPY return over the same window.

HORIZON	TRADES	WIN RATE	INSIDER RETURN	SPY RETURN	MEAN EXCESS	MEDIAN EXCESS	T-STAT
7d	2	+50.00%	+2.35%	-17.97%	+20.32%	+20.32%	—
14d	2	+50.00%	+1.63%	-20.48%	+22.11%	+22.11%	—
30d	2	+50.00%	+20.29%	-17.46%	+37.75%	+37.75%	—
60d	2	+50.00%	+8.36%	-5.70%	+14.06%	+14.06%	—
90d	2	+50.00%	+12.54%	+3.82%	+8.71%	+8.71%	—
180d	2	+50.00%	+6.32%	+17.78%	-11.46%	-11.46%	—
1y	2	+50.00%	+12.13%	+29.20%	-17.07%	-17.07%	—
2y	2	+50.00%	-78.59%	+47.50%	-126.09%	-126.09%	—

How to read this: Insider Returnis the average raw return of the filer's trades over the horizon. SPY Return is what SPY did over those same windows — reference only, not a comparison. The headline alpha number is Mean Excess = Insider − SPY; green means the filer beat SPY, red means they trailed it. Win rate is the share of individual trades where the filer beat SPY. T-statvalues above 2 mean the alpha is unlikely to be chance given the sample size. "Pending" counts trades where the horizon hasn't elapsed yet; their stats are not included in the row average.

Holdings over time

CDZI · 26,441,360.2 shares · as of Mar 5, 2020

Trading cadence · quarterly flow

BUY ● SELL ●

2020

FLOW · 3 buys / 2 sellsCOVERAGE · 1 quarters

Form 4 filings · all activity

COMPANY	TYPE	SHARES	PRICE	VALUE	HELD AFTER	TRADE DATE	FILED
CDZI CADIZ INC	PURCHASE	16,866,290.34	—	—	43,346,290.3	Mar 5, 2020	Mar 9, 2020 ↗
CDZI CADIZ INC	PURCHASE	2,504,434	$6.75	$16.90M	3,263,926	Mar 5, 2020	Mar 9, 2020 ↗
CDZI CADIZ INC	PURCHASE	9,671	—	—	9,671	Mar 5, 2020	Mar 9, 2020 ↗
CDZI CADIZ INC	SALE	26,441,360.21	—	—	0	Mar 5, 2020	Mar 9, 2020 ↗
CDZI CADIZ INC	SALE	16,904,930.13	—	—	26,441,360.2	Mar 5, 2020	Mar 9, 2020 ↗

Other insiders · CDZI

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About this filer

CIK 0001299904

ROLE

Insider

PRIMARY

CDZI

COMPANIES

ACTIVE SINCE

Mar 2020

MARKETPEEL · /INSIDER/0001299904DATA · SEC EDGAR · FORM 4 · CONSOLIDATED TAPE

Richard F. Conway

The morning brief, before the bell.