Q2 US House Stock Trading Activity Highlights (51 members had >$32M activity) 👀👀👀

DD 👨‍🔬

TLDR: MSFT & GOOG were the top ‘buys’… both by the same one (1) Rep who isn’t afraid to hold Big Tech stocks.

Another (1) Rep sold >$1M to $5M of BRP right before a -21% dip over 16 days (nice timing Mr. Congressman).

The ‘granddaughter of a billionaire’ Rep sold a lot of stocks (all in one day) and sold a lot of bonds (all in one separate day) from her 5+ trust accounts… no buys.

And just two (2) other Reps generated ~56% of ALL stock trading activity for the entire House in Q2. Will another ape answer the call to dive deeper to see what they’re really up to?

DATA BELOW IS SHARES ONLY (no options) WITH ESTIMATED Totals for Q2 2021 based primarily on date of public disclosure (it’s a pain in the ass to piece these together manually… they sure don’t make it easy to follow along to what they’re doing. Date disclosed is different than date of trade, and I’ve seen trades not disclosed for 5+ months. Anyone on the House Ethics committee read this sub?):

548 purchases for >$17.8M to $49.5M (the Periodic Transaction Report “PTR” forms use amount ranges instead of exact values)

477 sales for >$14.3M to $33.9M (ranges do provide the gross floor and gross ceiling)

It looks like the US House was a Net buyer of stocks in Q2 2021. Individuals who stood out during Q2 are described below.

**All data below assumes MINIMUM value of the reporting range unless otherwise stated, and therefore could be completely inaccurate or misleading. There is no guarantee the data I used from official government sources is accurate or complete. According to *history.house.gov*, it looks like only one Rep was expelled since 1980 & only one Rep was censured since 1983 (for any reason). I can’t find any links that show any kind of punishment for filing a PTR untimely or not at all… so I’m sure it’s all on the up & up. Finally, I’m not a financial advisor and this isn’t financial advice. Now onto the pictures!*

Seal since 1789, last updated in 1987. Peace on the left foot, war on the right foot, and 13’s all around.

Highest single $ trades ($1M to $5M bracket):

Nancy Pelosi (Speaker of the House) & Paul Pelosi (Venture Capitalist), April 23, 2019 ‘Bought the Dip in Feb 2020’

1) Nancy Pelosi (1987 Rep + Speaker of the House from California… via Paul Pelosi, her 81-year-old Venture Capitalist CEO husband), on last Friday 7/2/21 disclosed they exercised $4.8M of GOOG calls on 6/18/21 that she/they bought on 2/27/20. Interesting they didn’t just take the LTCG status on those call options (that went brrrrr) since the share price more than doubled between buy & exercise.

A trade of this size only happened three times during ALL of Q2 (two of which were by Nancy/Paul). Prior to this DD, I knew Paul Pelosi was a big investor and fully expected him on this list - he may be the most interesting investor to watch in Congress (other than two super traders below). Nancy Pelosi (+ Paul) is estimated to be the 7th wealthiest member of Congress with >$114M Net Worth. I had not heard of anyone else on this list before this DD.

On 4/9/21, Nancy/Paul disclosed they exercised $3.35M of MSFT calls on 3/19/21 that they bought on 2/20/20 & 2/28/20. Granted, you could have bought almost anything during late February 2020 and made $$$, but these are long term call options that were exercised instead of sold. Perhaps the biggest story is they don’t seem to have any issue with holding more Big Tech stocks, even when they could have taken LTCG instead.

Also on 4/9/21, Nancy/Paul disclosed purchasing ~$690k worth of RBLX, which has since jumped +24% with a peak of +49% on 6/4/21. Told you Paul knows his shit.

Scott Franklin, January 2021 ‘Sold BRP >$1M right before a -21% dip’

2) Scott Franklin (freshman Rep from Florida, 26 year Navy vet turned Insurance CEO) on 6/1/21 disclosed he sold $1M-$5M of BRP on 4/27/21. BRP then immediately dropped -21.6% over the next two weeks after he sold, and is currently -9% from the 4/27/21 close price. This single trade made Scott Franklin the 8th highest $ value trader for Q2 (and it was a pretty well timed trade). Scott Franklin is a Managing Partner in BRP group who acquired his former company Lanier Upshaw in January 2021, so not totally out of the blue… but good for a top 2 spot with the Pelosi’s for biggest single trade in Q2.

Other High $ single trades to watch in the House:

Patrick Fallon, January 2021 ‘Sure would be a shame if some Ape went super DD on me’

Patrick Fallon (freshman Rep from Texas - former Air Force medal recipient turned military clothing company CEO)… this guy swing trades like crazy with same day/ticker buy & sell disclosures, often using duplicate disclosures for the same position on the same day… reported almost 5 months after the trade happened (PYPL 1/19/21 activity disclosed on 6/17/21). Definitely worth having someone take a deeper look. On a gross basis, Patrick Fallon Purchased >$5.8M and Sold >$3.9M for a total gross activity of >$9.7M (this could be as high as $21.7M if Max value in range is used instead of Min value). Patrick Fallon was the #1 highest $ trader in Q2 (putting aside the above Pelosi-MSFT speculation). He traded 140 times during Q2, which only has 63 trading days (>2.2x trades per day). Seriously, can someone please deep dive into this guy, there’s a large cloud of smoke coming from the Dallas area….

Mark Green, January 2019 ‘Sure would be a shame if I also got audited’

Mark Green (2019 Rep from Tennessee - former Army Major turned physician/surgeon turned hospital staffing company CEO)… 2nd most active trader, another one probably worth taking a deeper look into. Mark Green looks like net buyer in April & May turned net seller in June… but disclosure only requires ranges and dates are delayed, so with that many transactions I cannot be 100% sure. Mark Green was the #2 highest $ trader in Q2 with >$9.1M in total gross activity. He traded 56 times during Q2 (>0.8x trades per day).
Side note: This guy was also apparently ‘too toxic’ for the 45th President, who had to withdraw Mark Green from nomination for Army Secretary in 2017 (https://duckduckgo.com/?t=ffab&q=mark+green+withdrawn+from+consideration+due+to+comments). Don’t care what side you’re on, any time a nominee has to get withdrawn (by the Party who has a full majority) for any reason is a huge red flag… can someone please deep dive into this guy?

Victoria Spartz, January 2021 ‘Buying SPG, Selling airlines’

Victoria Spartz (freshman Rep from Indiana, Ukrainian born US citizen in 2006, local Indiana Tea Party founding member, former CFO of Indiana Attorney General, ‘real estate and farming businesses’) bought $500k-$1M of SPG on 6/10/21. She bought the top, and SPG is currently -3.6% from 6/10/21’s closing price. She also bought SPG on 5/12/21 for $100k-$250k. She had three (3) other trades that brought her to the 6th highest $ value trader (buy gross + sell gross) for Q2, including selling ALK on 5/17/21 (-17% since she sold) & LUV on 5/18/21 (-15% since she sold)… both disclosures showed up as “amended”… hmmm…..

Suzan DelBene, January 2017 ‘Has more money than you, but still paper handed MSFT in March 2021’

Suzan DelBene (2012 Rep from Washington - worked at MSFT 1989-1998 & 2004-2007, other high level tech executive work between and after). Disclosed on 4/13/21 that she Sold $500k-$1M of MSFT on 3/4/21 for ~$226/share, MSFT currently at $277.65/share, so she sold -22% from current (ouch). This one trade put Susan Delbene as the 10th highest $ trader for Q2, with nearly all of her other trading activity coming from Municipal Bond sales & purchases. Suzan DelBene is estimated to have the 9th highest Net Worth in Congress with ~$80M.

Largest Net Sellers:

Sara Jacobs, January 2021 ‘My trusts are cashing out’

1) Sara Jacobs (freshman Rep from California, youngest California Rep at age 32, granddaughter of Qualcomm founder billionaire Irwin Jacobs), disclosed on 5/28/21 sold 40 different stocks, all on 4/9/21, for $1.1M to $1.4M (via three separate Trusts, all smaller sales, no single one for >$50k)… no other sales or purchases in Q2.

On 7/2/21, Sara disclosed she sold 10 different California Municipal Bonds for $1M-$2.5M on 5/3/21.

I wonder what’s going on in Sara’s world where her Trusts seem to be selling everything….

2) Scott Franklin, sold $1M-$5M NET, single sale. See above.

3) Suzan Delbene, sold >$500k NET, single sale. See above.

Largest Net Buyers:

1) Nancy Pelosi, >$3M. See above.

2) Patrick Fallon, >$1.9M (estimated based on the Minimums Only of each range! Because he has so much activity in both direction and sizes, Patrick Fallon could have actually been a NET SELLER). See above.

Kevin Hern, January 2019 ‘He’s McLoving this bull market’

3) Kevin Hern (2018 Rep from Oklahoma – former Ph.D. astronautical engineering now owns 18 McDonald’s in Tusla area), bought $1.8M-$4.0M across 41 transactions almost exclusively on 6/15/21 (with an additional $75k bought on 4/9), with no sales in Q2. Kevin Hern’s most notable purchase was ADBE $250k-$500k which is +21% since he bought on 5/20/21. Kevin Hern was the 4th highest $ trader in Q2 with >$1.8M.

SOURCES:

Data above is from Periodic Transaction Reports (PTRs** as required by the “Ethics in Government Act of 1978” (passed in the wake of the Nixon Watergate scandal:) https://en.wikipedia.org/wiki/Ethics_in_Government_Act)

https://disclosures-clerk.house.gov/PublicDisclosure/FinancialDisclosure

https://www.quiverquant.com/sources/housetrading

(each Rep’s wikipedia page**)

https://www.opensecrets.org/personal-finances/top-net-worth