The audit log · signal #1410

DSM insider buy · signal #1410

10% owner Saba Capital Management, L.P. bought $109k of BNY MELLON STRATEGIC MUNICIPAL BOND FUND, INC. (DSM), filed Oct 22, 2026, 16:16 New York time.

Logged in advance Logged Oct 22, 2026, 20:17 UTC, before its result could be known.

Entry price$5.31close of Oct 23, 2026

After 1 day, after costs+2.2%+1.4% vs benchmark

After 1 week, after costs+4.2%+4.8% vs benchmark

After 1 month, after costsWaitingdue Nov 21, 2026

Results

After	Price move	After costs	S&P 500	Against it
1 day	+2.3%	+2.2%	+0.7%	+1.4%
1 week	+4.3%	+4.2%	−0.6%	+4.8%
1 month	–	–	–	–

Costs: 10 basis points for buying and selling (0.10%), taken off every result. The benchmark is S&P 500 (SPY), measured from the same entry close to the same later closes. Bad calls stay in the record like every other, and a result that can't be measured counts against the Truth Scores as a miss.

The record

Each entry was written to InsiderBeacon's audit log when it happened; the prices in it are sealed, a commitment standing in for them wherever the log is passed on, and shown here with the salt that opens the seal. Every check below passes.

#5650 · PublishedOct 22, 2026, 20:17 UTC
Insider buy of DSM, $109k, score 8. Costs counted: 10.0 bps a round trip.
7d4a29098afc22e33926d9b8b1b6d34782c301abb42395732ee16941cfcf2dc8 ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-22
#6343 · EntryOct 24, 2026, 06:06 UTC
Entry price $5.31; benchmark the S&P 500 (SPY) at $759.97, the close of Oct 23, 2026.
038c04d0b3383a28cdb876af82cba5056c08a184a1329f4a40347b5d0aa06280 ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-24 · ✓ sealed prices match their commitment Sealed: 661e9899845fd104e10a9ba6c8df369d7b8332ee77a0e785b277e6f235ddfd4a · salt 244cd677382c262b2743aee56e6cf6f1 · values {"bpx":759.97,"px":5.31}
#7620 · ResultOct 27, 2026, 07:02 UTC
1 day: price +2.3%, after costs +2.2%; benchmark +0.7%, so +1.4% against it
c0304cf6e8115c61a200dce69abde127b21ab5982f306965f6a70e24f31b4e9e ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-27 · ✓ sealed prices match their commitment Sealed: 6be5e60ff03eccd3b16d06bd91e37e1f127f81762231c4bc7ea044118eec331f · salt f53cac3b171722b32f2988208de86190 · values {"bench":0.00710554,"excess":0.01449333,"gross":0.02259887,"net":0.02159887}
#11782 · ResultOct 31, 2026, 03:08 UTC
1 week: price +4.3%, after costs +4.2%; benchmark −0.6%, so +4.8% against it
85b805555259efd28246afeac75fe84d3c52c12cba7643a3e10b5a5e18d2d28f ✓ matches its hash · ✓ follows the entry before it · ✓ in the checkpoint for 2026-10-31 · ✓ sealed prices match their commitment Sealed: a0494aba60ea370bc309b16dd9af4d52aa4b233995a2f9ff9ea6a8cfe4d4c51e · salt 3f265318fd4d47f4d417522e8ecabe3c · values {"bench":-0.00559233,"excess":0.04790683,"gross":0.0433145,"net":0.0423145}

Checkpoints: Oct 22, 2026, digest 7eb0b5f294a6f368a862315b2e6e2068bf04c28c3cc8806a17af1c1ae452697c; Oct 24, 2026, digest 34598f82fccd3feaa91beaa0cad2a239a730ff5a72f2c20fef5a483dc201686f; Oct 27, 2026, digest eef2d35eb3226f2ab49990afb7e69217a1aa62f26101c6af4b8a0d39b8faf71f; Oct 31, 2026, digest 4ba62b3c25597fb0eab138c5023d556611e3586e88fc25c40fa70d15530b2395.

What this proves

That each entry matches its hash and follows the entry logged right before it, and, once its day is over, that it's part of that day's checkpoint, whose digest fixes everything logged up to then. It doesn't prove on its own that the whole log was never rewritten: only a copy of a checkpoint kept outside this site can. No copy is kept outside this site yet, so these checks show the log is consistent, not that it was never rewritten.

Check it yourself

Download these entries with their proofs: /s/1410.json. The audit log page has a short script that checks every hash, every link and every checkpoint, and explains each step.

Source: the SEC filing. Past results don't predict future ones, and nothing here is investment advice.