Congress Edition
Week of 2026-05-25
Fifty trades were disclosed this week, led by a California congresswoman's multimillion-dollar QUALCOMM sell-off and a New Jersey member who accounted for nearly half of all activity on his own.
The Big Picture
Selling dominated this week's disclosures, with financial services and industrials stocks seeing the most turnover. Democrats filed more than twice as many trades as Republicans, driven by Rep. Josh Gottheimer's 24 disclosures and Rep. Sara Jacobs's two QUALCOMM transactions that together represent up to $2 million. Nine trades across the five members carried a potential conflict-of-interest flag, primarily involving those who sit on financial oversight or defense committees.
This Week's Notable Trades
Sara Jacobs (D-CA)
- Sold a $500,001-$1,000,000 position in QUALCOMM Inc (QCOM) on May 6 — QUALCOMM designs semiconductor chips used in smartphones and wireless communications equipment.
- Sold a second $500,001-$1,000,000 position in QUALCOMM Inc (QCOM) on May 7 — the two transactions together represent up to $2 million in disclosed sales, the largest single-member activity of the week.
Josh Gottheimer (D-NJ)
- Sold a $15,001-$50,000 position in The Goldman Sachs Group Inc (GS) on April 9, then bought back a $1,001-$15,000 position in the same stock on April 16 — Goldman Sachs is one of the largest investment banks on Wall Street.
- Sold a $15,001-$50,000 position in Synchrony Financial (SYF) on April 9 — Synchrony issues private-label credit cards for major retailers and earns revenue from interest charged to cardholders.
- Bought $1,001-$15,000 positions in Advanced Micro Devices Inc (AMD) on April 23 and again on April 27 — AMD makes processors and graphics chips, including those used in artificial intelligence data centers.
- Potential conflict: Rep. Gottheimer sits on the House Financial Services Committee, which oversees banking regulation and capital markets. Several of his disclosed trades this week involve financial services companies, including Goldman Sachs, Synchrony Financial, MarketAxess Holdings, Ally Financial, and HDFC Bank.
Brian Babin (R-TX)
- Sold a $50,001-$100,000 position in Fortress Transportation and Infrastructure Investors LLC (FTAI) on May 5 — FTAI owns and leases aviation infrastructure assets, including jet engines and aircraft.
- Sold a $15,001-$50,000 position in Huntington Ingalls Industries Inc (HII) on May 5 — Huntington Ingalls is the U.S. Navy's primary shipbuilder, constructing aircraft carriers and submarines.
- Sold a $15,001-$50,000 position in Wheaton Precious Metals Corp (WPM) on May 5 — Wheaton finances gold and silver mines in exchange for the right to purchase a share of their future production at predetermined prices, an arrangement called streaming.
Bernie Moreno (R-OH)
- Sold a $100,001-$250,000 position in eToro Group Ltd (ETOR) on May 6 — eToro is an online retail trading and investment platform that listed on Nasdaq in May 2025; this was the second-largest single transaction disclosed this week.
- Potential conflict: Sen. Moreno serves on the Senate Banking Committee, which oversees financial markets and securities regulation. eToro operates as an online retail brokerage, a category that falls within the committee's jurisdiction.
William R. Keating (D-MA)
- Bought a $1,001-$15,000 corporate bond position in Northrop Grumman Corp (NOC) on May 8 — Northrop Grumman builds military aircraft, missile systems, and space vehicles for the U.S. government. (A corporate bond is a loan to a company that pays fixed interest; it is distinct from owning shares of stock.)
- Sold a $15,001-$50,000 corporate bond position in Campbell Soup Co (CPB) on May 6 — Campbell Soup recently rebranded as The Campbell's Company after expanding into snack foods.
- Potential conflict: Rep. Keating serves on the House Armed Services Committee, which sets defense budgets and policy. His purchase of a Northrop Grumman corporate bond represents a potential overlap with the committee's oversight of defense contractors.
Tim Moore (R-NC)
- Bought a $15,001-$50,000 position in AT&T Inc (T) on May 18 — AT&T provides wireless and broadband services to millions of U.S. households and businesses.
- Bought a $1,001-$15,000 position in Rolls-Royce Holdings PLC (RYCEY) on May 7 — Rolls-Royce, the British engineering company, manufactures jet engines for commercial airlines and military aircraft. It is a separate company from the Rolls-Royce automobile brand.
- Bought a $1,001-$15,000 position in Intercontinental Hotels Group PLC (IHG) on May 7 — IHG operates hotel brands including Holiday Inn, Crowne Plaza, and InterContinental.
By the Numbers
- Total trades disclosed: 50
- Party split: 33 from Democratic members; 17 from Republican members
- Top sectors purchased: Technology (5 trades), Industrials (4), Communication Services and Consumer Cyclical (2 each)
- Top sectors sold: Financial Services and Industrials (6 trades each), Technology (5), Consumer Cyclical and Basic Materials (4 each)
- Most active member: Rep. Josh Gottheimer (D-NJ), with 24 disclosed trades
- Potential conflicts flagged: 9
Most significant potential conflicts this week:
- Rep. Josh Gottheimer (D-NJ), House Financial Services Committee — multiple disclosed trades in financial services companies, including Goldman Sachs, Synchrony Financial, Ally Financial, and MarketAxess Holdings
- Sen. Bernie Moreno (R-OH), Senate Banking Committee — sold up to $250,000 in eToro Group, an online retail brokerage
- Rep. William R. Keating (D-MA), House Armed Services Committee — bought a Northrop Grumman corporate bond
The Fine Print
Data derived from public STOCK Act disclosures. Disclosure date is not the trade date (filings lag 30-45 days). Dollar figures are disclosed ranges, not exact amounts. Conflict-of-interest flags are heuristic "potential overlaps," not assertions of wrongdoing. Not investment advice.