June 5th Update
Hello everyone!
Here is our weekly update on this week’s security trades made by US Senators and Representatives for the week of June 5th. While we will continue to post these written updates every week, we are planning on recording a podcast episode at least every other week due to our crazy schedules.
To give a quick overview, it was a busy week in the world of CSW, including some big disclosures from Nancy Pelosi and more of Madison Cawthorn’s crypto disclosures from early 2022.
With that being said, here are our data totals for the week!
128 Total Disclosures
65 Purchases
39 Full Sales
24 Partial Sales
0 Exchanges
Total Amount Traded: at least $2,595,128
Purchases: $1,207,065
Full Sales: $695,024
Partial Sales: $693,039
Exchanges: $0
Senate
The only Senator to report this week was Democrat Thomas Carper of Delaware’s spouse. They reported 19 transactions on June 3rd, 2022, and all were in the $1,000-$15,000 range, comprising of 15 sale and 4 purchases.
12 transactions were made on May 10th, 2022. 10 partial sales, and two purchases.
6 transactions were made on May 16th, 4 sales and 2 purchases.
Carper made one purchase on May 23rd of a Ryder Systems corporate bond, a transportation and logistics company based out of Miami, Florida.
One stock was fully sold: Johnson Controls International, a fire security equipment company from Ireland.
The rest of his transactions were securities from notable financial companies like First Trust Dow Jones Internet Index Fund, First Trust Nasdaq Cybersecurity ETF, and SPDR Gold Trust among others.
There are no repeating companies in these 19 reported transactions. Talk about a diverse portfolio!
House
There were 109 House disclosures between June 1st and June 8th.
The following representatives made only a single transaction this week:
Republican Greg Murphy of North Carolina sold a condominium for between $250,000 dollars and $500,000 dollars on May first.
Democrat Lloyd Doggett of Austin, Texas purchased between 1,000 dollars and 15,000 dollars of Proctor and Gamble stock on May sixteenth.
Republican Ron Estes of Kansas fully sold between 15,000 dollars and 50,000 dollars of Honeywell International stock on May 31st.
Democrat Chellie Pingree of Portland Maine purchased between 100,000 dollars and 250,000 dollars in “United States Treasury Notes” on May 26th.
According to TreasuryDirect, “Treasury notes, sometimes called T-Notes, earn a fixed rate of interest every six months until maturity. Notes are issued in terms of 2, 3, 5, 7, and 10 years.” They are essentially low risk, low reward government bonds and the investment rate grows with increasing the security term.
According to TreasuryDirect’s records, two transactions were made on May 26th, so Pingree either purchased a 13 week term with a 1.078% investment rate, or a 25 week term with a 1.563% investment rate.
Democrat Don Beyer of Arlington, Virginia reported a full sale of between 15,000 dollars and 50,000 dollars of New York City Transitional Finance Authority bonds.
According to NYC.gov, The New York City Transitional Finance Authority “is a public benefit corporation whose primary purpose is to finance a portion of New York City’s capital improvement plan… (ellipses) … [the TFA is permitted] to have outstanding $13.5 billion of Future Tax Secured Bonds (excluding Recovery Bonds).”
Democrat Cindy Axne of Iowa reported 12 transactions on June third, all from the month of May and all in the 1,000 to 15,000 dollar range, comprising 6 sales and 6 purchases.
She purchased between 3,000 and 45,000 dollars in Kohlberg Kravis Roberts and Company, and the same amount in Danaher Corporation. KKR is a global private equity and investment banking company based in New York, and Danaher Corporation is a Washington, D.C. based conglomerate that deals in medical, industrial, and commercial products and services.
Axne also fully sold between 6,000 and 90,000 dollars in JP Morgan and Johnson and Johnson securities.
On May 20th, Debbie Wasserman Schultz of the greater Miami area made three full sales of Patterson-UTI Energy security for between 3,000 and 45,000 dollars.
Democrat Earl Blumenauer of Portland, Oregon made four transactions in May concerning his spouse’s portfolio.
He made two full sales in May; a 1,000-15,000 dollar sale of Vodafone Group stock, and a 1,000-15,000 dollar sale of Citigroup stock.
He purchased a 1,000-15,000 dollar purchase of security in Northwest Natural Holding Company, a natural gas public utility servicing Western Oregon and Southwest Washington.
He also made a 15,000-50,000 dollar purchase of an international corporate security on May 25th.
Democrat James Langevin of Rhode Island reported 13 transactions from the month of May.
His subholding company purchased 50,000 - 100,000 dollars and also sold between 1,000-15,000 dollars in AirBnB stock.
In a similar manner 30,000-100,000 dollars in stock was purchased and 16,000-65,000 dollars was sold in DoorDash stock and options.
His subholding company also sold a Meta option of 1,000-15,000 dollars.
The last transactions of note were two 1,000-15,000 dollar option sales and one 15,000-50,000 dollar stock purchase of Block, Inc, a financial services and digital payments company formerly named Square, Inc.
Democrat Kathy Manning of North Carolina reported 7 joint stock transactions from the from May 27th:
She purchased 18,000-95,000 dollars in the following stocks: Amazon, ASML Holding , Estee Lauder, and ServiceNow Inc.
She partially sold 17,000-80,000 dollars in the following stocks: American GTower, CME Group, and Visa.
Democrat Kurt Schrader of Oregon reported 3 transactions from May. He sold 15,000-50,000 dollars in NRG Energy stock, and sold between 1,000-15,000 dollars in Alphabet.
Republican Michael Burgess of Texas partially sold 2,000-30,000 dollars in Stryker Corporation stock, a medical technology company based in Kalamazoo, Michigan.
House Speaker Nancy Pelosi of California reported four large purchases from May.
She purchased between 750,000 dollars and 1.5 million dollars in Apple call options, with a strike price of 80 dollars.
And purchased between 300,000 dollars and 600,000 dollars in Microsoft call options with a 180 dollar strike price.
Republican Robert Witman of Virginia reported 11 transactions from May. He made 2 stock transactions, and 9 asset-backed security transactions, comprising of 6 Sales of 1,000-15,000 dollars each and 5 purchases of 1,000-15,000 dollars each.
Republican Viriginia Foxx of North Carolina reported 20 transactions from May. Notably, she sold between 50,000 and 100,000 dollars Hercules Capital stock, a venture lending company.
Lastly, Republican Madison Cawthorn of North Carolina reported 25 transactions on June 8th, dating from January 4th to May 18th. We will for sure discuss Cawthorn’s ongoing crypto saga in depth on our next podcast! Please comment with questions or ideas you want to hear us discuss!
Also keep in mind the numbers reported here are from his disclosure forms. You may have seen more accurate figures reported directly from his digital wallet, but we have chosen to only report what Cawthorn himself has chosen to disclose.
Cawthorn purchased between 47,000 dollars and 180,000 dollars in BitCoin,
He purchased between 31,000 -115,000 dollars in Etherium, and also sold between 30,000 and 100,000 dollars in Etherium
In Kryll, he purchased between 65,000 dollars and 160,000 dollars, and sold between 51,000 and 115,000 dollars,
On January 4th, he partially sold between 15,000 and 50,000 dollars in Let’s Go Brandon Coin,
In Solana, he purchased between 18,000 and 95,000 dollars and sold 30,000-100,000 dollars,
On March 23rd, 24th, and 25th, Cawthorn made two purchases and one sale of between 1,000 and 15,000 dollars of virtual US Dollars.
On May 18th, Cawthorn purchased an asset-backed SPDR S&P500 ETF (exchange traded fund) for between 100,000 and 250,000 dollars. This was the only transaction legally reported within the 45-day filing window, and his only non-cryptocurrency transaction reported.
2022 Crypto Purchase total: between 163,000 - 570,000 dollars
2022 Crypto Sale Total: between 127,000 - 380,000 dollars
2022 Crypto Net: between 36,000 - 190,000 dollars
That’s all we have for you this week! Listen to our podcast here on Substack and wherever else you get your podcasts, check out our Subreddit, follow us on Twitter, and contribute transcriptions here!
HUGE THANKS to Tim and the amazing people transcribing the hand-written House disclosures that make all of this possible.
Thank you so much for your continued patience and support. Talk to you soon!
No reason to presume Pingree bought Treasuries at auction. She bought different maturities on the secondary market. 13-week and 25-week are "bills," not "notes."
Langevin, Pelosi, and Cawthorne fucked up big time. Horrible trades.