Framework Journal · one stock, one dated entry

Recorded 2026-05-09 · Permanent

NatWest Group NWG.L

An entry written while the outcome is still unknown. It will be scored by what the market does next, and it will never be edited to look cleverer than it was.

The label
Markup

read at $596.41

NatWest Group holds its Markup at $596.41.

PHINPOOPSC
  • PHPhase · the trend structure carries the Markup label
  • INInsiders · insiders sold, $11,673,779, latest filing 2026-05-15
  • POPositioning · no disclosures inside 60 days, left as found
  • OPOptions · no verdict drawn today, left as found
  • SCScreen · does not pass the values gate

The investor read · the season, not the day

As held on the ledger · 2026-05-09
PhaseMarkup
Quantitative stateConsolidating, no directional conviction, held for 44 days
Price$596.41
Valuation8.28 trailing · 6.96 forward price to earnings
Values screenFAIL · score 10.0
BetaN/A

The trader read · the latest dated commentary

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns. Entered 2026-07-03 · Markup

The dated journal · newest first, never edited

2026-07-03 Markup $596.41 +0.0% Entry 2

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Price has moved down 0.0% since our last review. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

2026-07-02 Markup $596.41 Entry 1

The framework reads markup. Price is trending higher with momentum. The crowd has caught on and buyers are in control. Ethical screening: FAIL. This security does not pass our values-based screening criteria. The risk-adjusted return profile shows excellent risk-adjusted returns.

Each entry above was written on its date, before the outcome. A journal you can prune is not a journal.

The insider ledger · Form 4 filings, as filed

Most recent filings · NWG.L
DateInsiderTitleTypeSharesValue
2026-05-15 NatWest Group plc 1,567,792 $11,673,779
2026-05-14 NatWest Group plc 33,231 $248,900
2026-05-13 NatWest Group plc 644,036 $4,868,268
2026-05-13 Murray (Katie) 253 ·
2026-05-13 Murray (Katie) 120 $926
2026-05-13 Murray (Katie) 36,386 ·
2026-05-13 Murray (Katie) 17,128 $132,245
2026-05-13 Pilcher (Sean) 253 ·
2026-05-13 Pilcher (Sean) 120 $926
2026-05-13 Begbie (Robert) 253 ·

Public filings, recorded as found. The full tape lives at Insider Intelligence.

What holding actually paid · price plus dividends

If $1,000 had been placed · historical, not a promise
PeriodPrice thenPrice returnDivs per share$1,000 becameTotal return
1 month $581.40 +0.8% · $1,008 +0.8%
2 months $614.40 -4.6% · $954 -4.6%
3 months $587.77 -0.3% $23.00 $1,036 +3.6%
6 months $620.15 -5.5% $23.00 $982 -1.8%
1 year $513.50 +14.2% $32.50 $1,205 +20.5%
2 years $310.56 +88.8% $54.00 $2,061 +106.1%
3 years $260.53 +125.0% $71.00 $2,523 +152.3%
5 years $220.02 +166.4% $112.88 $3,177 +217.7%

Historical returns from market close data. Past performance does not guarantee future results.

This entry now belongs to the ledger. Whatever NWG.L does next, these words stay.

NatWest Group · NWG.L · Markup · $596.41
Recorded 2026-05-09 · before the outcome · scored mechanically

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