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15 Stocks That Members of Congress Own

In this article, we discuss the 15 stocks that members of Congress own. If you want to read about some more stocks that members of Congress own, go directly to 5 Stocks That Members of Congress Own.

It is no secret that stock trading has generally been considered a side-benefit to winning a seat in the United States Congress. Although these trades by lawmakers were not available to the public for scrutiny before, they have been since 2012, as the STOCK Act of 2012 mandates that lawmakers disclose these trades publicly. An analysis of these trades by the New York Times has found that at least 97 current members of Congress bought or sold stock, bonds or other financial assets that intersected with their congressional work. 

It is important to clarify that US lawmakers are not banned from investing in any company, including those companies that could be affected by their decisions. However, such calls have grown in the past few years as the trading activities of lawmakers become controversial. 

Public outrage over congressional stock trading intensified in recent years after revelations that four senators had sold stocks in 2020 after private briefings on the risks of a coronavirus outbreak in the United States. Meanwhile, House Speaker Nancy Pelosi announced in September 2022 that she would support a floor vote on legislation that would ban members of Congress and their family members from dealing in individual stocks while those lawmakers are in office. Pelosi had earlier gone against such a vote. 

Some of the top stocks that US Congress members presently own include Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:FB), among others. The US Congress has postponed a vote regarding the ban on stock trading for lawmakers until after the midterm elections. 

Photo by MIKE STOLL on Unsplash

Our Methodology

The companies listed below were picked from the Periodic Transaction Report(s) that US politicians who trade stocks are obliged to file. It is important to clarify that the stocks listed below were picked from the public record of investments Congress members and their families have made in the past few months. The purchases may not have been made by the members themselves but only disclosed on behalf of their families. Data from around 900 elite hedge funds tracked by Insider Monkey in the third quarter of 2022 was used to identify the number of hedge funds that hold stakes in each firm.

Stocks That Members of Congress Own

15. Alliance Resource Partners, L.P. (NASDAQ:ARLP)

Number of Hedge Fund Holders: 6     

Alliance Resources Partners, L.P. (NASDAQ:ARLP) is a diversified natural resource company that produces and markets coal primarily to utilities and industrial users in the United States. According to a Periodic Transaction Report from December 6, Rep. Virginia Fox purchased AllianceBernstein Holding L.P. (NYSE:AB) shares worth between $1,000 and $15,000. The transaction in this regard was made in mid-November. 

Among the hedge funds being tracked by Insider Monkey, Sydney-based investment firm Magnolia Capital Fund is a leading shareholder in Alliance Resources Partners, L.P. (NASDAQ:ARLP) with 3 million shares worth more than $68.7 million.  

Just like Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:FB), Alliance Resources Partners, L.P. (NASDAQ:ARLP) is one of the stocks that members of Congress own. 

In its Q3 2022 investor letter, Miller Value Partners, an asset management firm, highlighted a few stocks and Alliance Resources Partners, L.P. (NASDAQ:ARLP) was one of them. Here is what the fund said:

“Alliance Resource Partners, L.P. (NASDAQ:ARLP) was the top contributor for the quarter, rising 28.0%2. Alliance reported 2Q22 revenue of $616.5MM, +70.1% year over year (Y/Y) and +33.8% sequentially, ahead of consensus of $542.4MM, and earnings per unit (EPU) of $1.23, +261.8% Y/Y, ahead of analyst expectations for EPU of $0.95. Adjusted Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter came in at $266.3MM, or a margin of 43.2%, +565bps Y/Y, as the company sold 8.93MM tons (+13.9% Y/Y) of coal at an average price of $59.33/ton (+43.3% Y/Y). Management provided full-year 2022 (FY22) guidance for coal sales of 35.5-37.0MM tons, at an average price of $59-63/ton, and raised guidance for CAPEX to now come in at $230-250MM, compared to previous guidance for CAPEX of $220-240MM. The company also raised its quarterly distribution by 14.3% to $0.40/unit, implying an annualized yield of 7.1%.”

14. Magellan Midstream Partners, L.P. (NYSE:MMP)

Number of Hedge Fund Holders: 10    

Magellan Midstream Partners, L.P. (NYSE:MMP) engages in the transportation, storage, and distribution of refined petroleum products and crude oil in the United States. According to a Periodic Transaction Report from December 8, Rep. Kevin Hern purchased Magellan Midstream Partners, L.P. (NYSE:MMP) stock worth around $1,000 – $15,000. The transaction in this regard was made in mid-November. 

On October 31, Barclays analyst Theresa Chen maintained an Equal Weight rating on Magellan Midstream Partners, L.P. (NYSE:MMP) stock and raised the price target to $55 from $49 post the third-quarter results.

At the end of the third quarter of 2022, 10 hedge funds in the database of Insider Monkey held stakes worth $20 million in Magellan Midstream Partners, L.P. (NYSE:MMP), compared to 9 the preceding quarter worth $17.8 million.

13. NetApp, Inc. (NASDAQ:NTAP)

Number of Hedge Fund Holders: 36  

NetApp, Inc. (NASDAQ:NTAP) provides cloud-led and data-centric services to manage and share data on-premises, and in private and public clouds worldwide. A financial disclosure report shows that Rep. Doug Lamborn purchased NetApp, Inc. (NASDAQ:NTAP) stock worth somewhere around $15,000 to $50,000. The transaction in this regard was made in the first week of November. 

On November 13, Northland analyst Nehal Chokshi maintained an Outperform rating on NetApp, Inc. (NASDAQ:NTAP) stock and lowered the price target to $99 from $101, noting that constant currency billings growth decelerated for the firm recently.  

At the end of the third quarter of 2022, 36 hedge funds in the database of Insider Monkey held stakes worth $587 million in NetApp, Inc. (NASDAQ:NTAP), compared to 36 in the preceding quarter worth $744.7 million. 

In its Q3 2021 investor letter, Miller Howard Investments, an asset management firm, highlighted a few stocks and NetApp, Inc. (NASDAQ:NTAP) was one of them. Here is what the fund said:

“Technology remains important in our portfolios, although the sector weights have come down over the past year. We now hold NetApp (NTAP) which has strong growth prospects, yet attractive valuations in our view. Unlike many younger tech companies, we believe our holdings should significantly benefit from an upturn in the economy.”

12. Church & Dwight Co., Inc. (NYSE:CHD)

Number of Hedge Fund Holders: 40    

Church & Dwight Co., Inc. (NYSE:CHD) develops, manufactures, and markets household, personal care, and specialty products. A regulatory filing dated early December reveals that Rep. Cindy Axne purchased Church & Dwight Co., Inc. (NYSE:CHD) stock worth somewhere between $1,000 and $15,000. The transaction in this regard was made in late November. 

On December 6, Deutsche Bank analyst Steve Powers maintained a Buy rating on Church & Dwight Co., Inc. (NYSE:CHD) stock and raised the price target to $90 from $85.

At the end of the third quarter of 2022, 40 hedge funds in the database of Insider Monkey held stakes worth $1.3 billion in Church & Dwight Co., Inc. (NYSE:CHD), compared to 32 in the previous quarter worth $1.3 billion.

11. Accenture plc. (NYSE:ACN)

Number of Hedge Fund Holders: 58    

Accenture plc. (NYSE:ACN) is a professional services company that provides strategy and consulting, interactive, industry X, song, and technology and operation services worldwide. Mandatory filings from early December show that Rep. Kevin Hern purchased Accenture plc. (NYSE:ACN) stock worth somewhere around $1,000 and $15,000 in mid-November. 

On October 14, JPMorgan analyst Tien-Tsin Huang maintained an Overweight rating on Accenture plc. (NYSE:CAN) stock and lowered the price target to $306 from $329, noting that the estimates were revised down due to currency headwinds.

At the end of the third quarter of 2022, 58 hedge funds in the database of Insider Monkey held stakes worth $3.5 billion in Accenture plc. (NYSE:ACN), compared to 61 in the preceding quarter worth $3.2 billion.

In its Q3 2022 investor letter, Distillate Capital Partners, LLC, an asset management firm, highlighted a few stocks and Accenture plc. (NYSE:ACN) was one of them. Here is what the fund said:

“The largest new purchases include Accenture plc (NYSE:ACN). Accenture modestly lagged the market last quarter and became similarly attractive enough to warrant ownership. Similar to our prior presentations, one way to visualize the current portfolio and note recent changes versus the benchmark is to look at a scatter plot of all of Distillate’s FSV holdings versus those in the benchmark with the valuation on the vertical axis and free cash ϲow stability on the horizontal axis.”

10. Airbnb, Inc. (NASDAQ:ABNB)

Number of Hedge Fund Holders: 58    

Airbnb, Inc. (NASDAQ:ABNB) operates a platform that enables hosts to offer stays and experiences to guests worldwide. According to the data available publicly, Rep. Jim Langevin bought Airbnb, Inc. (NASDAQ:ABNB) stock worth somewhere between $15,000 and $50,000 in early November this year. 

On November 22, Barclays analyst Mario Lu maintained an Equal Weight rating on Airbnb, Inc. (NASDAQ:ABNB) stock and raised the price target to $103 from $101, noting that the leisure travel industry might grow 12% in fiscal 2023.

At the end of the third quarter of 2022, 58 hedge funds in the database of Insider Monkey held stakes worth $2 billion in Airbnb, Inc. (NASDAQ:ABNB), compared to 57 in the previous quarter worth $1.8 billion.

In its Q2 2022 investor letter, Polen Capital, an asset management firm, highlighted a few stocks and Airbnb, Inc. (NASDAQ:ABNB) was one of them. Here is what the fund said:

“Airbnb, Inc. (NASDAQ:ABNB) was one of our largest detractors from performance in the second quarter. Airbnb is the clear market leader in private rental bookings globally, according to market research firm Euromonitor. The business is currently firing on all cylinders, with revenue and earnings growth well above our expectations and long-term estimates. It would be easy to say that it is because as the world reopens, people are traveling for the first time in two years, providing a short-term benefit to the company. But, Airbnb also grew quickly in 2021 when people were still hesitant to travel and preferred staying close to home. The company’s growth in 2022 is not an easy comparison like it is for online travel agencies (which are more hotel-oriented), airlines, and hotels. Airbnb’s business has outpaced the hotel industry growth by more than 1,250 basis points per year since 2019, showing far more resilience than hotels and online travel agencies.

Airbnb didn’t invent the private rental market, but it developed a better offering and helped it scale with robust network effects and a system of trust protecting travelers and hosts alike. It has diligently removed friction from the marketplace to catalyze demand (…read more)

9. The Procter and Gamble Company (NYSE:PG)

Number of Hedge Fund Holders: 71  

The Procter and Gamble Company (NYSE:PG) provides branded consumer packaged goods worldwide. A financial disclosure report shows that Rep. Ro Khanna purchased The Procter and Gamble Company (NYSE:PG) stock in November 2022 worth somewhere between $1,000 and $15,000. 

On December 6, Deutsche Bank analyst Steve Powers maintained a Buy rating on The Procter & Gamble Company (NYSE:PG) stock and raised the price target to $162 from $156, noting that although data points are choppy, there have been several positive developments for the markets over the past several weeks, including lower than expected inflation in November.

At the end of the third quarter of 2022, 71 hedge funds in the database of Insider Monkey held stakes worth $5.5 billion in The Procter and Gamble Company (NYSE:PG), compared to 72 in the preceding quarter worth $6.1 billion.

8. Block, Inc. (NYSE:SQ)

Number of Hedge Fund Holders: 75   

Block, Inc. (NYSE:SQ) creates tools that enable sellers to accept card payments and provide reporting and analytics and next-day settlement. According to the data available publicly, Senator Ron Wyden bought Block, Inc. (NYSE:SQ) stock worth somewhere between $15,000 and $50,000 in late October this year. 

On December 12, Mizuho analyst Dan Dolev maintained a Neutral rating on Block, Inc. (NYSE:SQ) stock and raised the price target to $70 from $69, noting 2023 outlook for sub-sectors in the fintech group against a backdrop of higher rates, high inflation, and a slowing macro.

Among the hedge funds being tracked by Insider Monkey, St. Petersburg, Florida-based investment firm ARK Investment Management is a leading shareholder in Block, Inc. (NYSE:SQ) with 9.2 million shares worth more than $505.5 million. 

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Block, Inc. (NYSE:SQ) was one of them. Here is what the fund said:

“Block, Inc. (NYSE:SQ) provides point-of-sale technology to small businesses and operates the Cash App ecosystem of financial services for individuals. Shares fell due to mixed quarterly results with more modest growth in the Seller business offsetting strength in Cash App. While the integration of recently acquired Afterpay is progressing well and credit metrics remain healthy, the buy-now-pay-later business slowed due to greater competitive intensity. We continue to own the stock due to Block’s long runway for growth, sustainable competitive advantages, and unique corporate culture.”

7. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 89     

NVIDIA Corporation (NASDAQ:NVDA) provides graphics, computing and networking solutions. A mandatory filing from late December shows that Rep. Ro Khanna bought NVIDIA Corporation (NASDAQ:NVDA) stock worth somewhere $1,000 to $15,000 in early November. 

On November 17, Needham analyst Rajvindra Gill maintained a Buy rating on NVIDIA Corporation (NASDAQ:NVDA) stock and raised the price target to $200 from $155, noting that the company’s third quarter results were solid with data center revenue outlook slightly higher despite weakening China data center sales and H100 adoption accelerating.

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in NVIDIA Corporation (NASDAQ:NVDA) with 19.2 million shares worth more than $2.3 billion.  

In its Q2 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and NVIDIA Corporation (NASDAQ:NVDA) was one of them. Here is what the fund said:

“At the company-specific level, there was a broad correction across the entire portfolio. While four of our holdings contributed to performance, the contribution to absolute returns was less than 100bps combined, as unfortunately none of them was large enough to move the needle. We had 16 investments detracting over 100bps each with NVIDIA (NASDAQ:NVDA), our second largest detractor, costing the Fund 254bps.

NVIDIA’s stock was hit even harder, down 44.4%, impacted by concerns over consumer health, dramatic declines in crypto, and COVID-related lockdowns in China. Despite the sell-off and the increased near-term volatility in its gaming business, NVIDIA’s revenues grew 46% year-over-year with 48% operating margins, driven by continued strength in its data center business as companies across industries adopt AI and ML…(read more)

6. Danaher Corporation (NYSE:DHR)

Number of Hedge Fund Holders: 89    

Danaher Corporation (NYSE:DHR) designs, manufactures and markets professional, medical, industrial, and commercial products and services worldwide. Mandatory filings from early December show that Rep. Cindy Axne purchased Danaher Corporation (NYSE:DHR) stock worth somewhere around $1,000 and $15,000 in mid-November 2022. 

On November 29, Barclays analyst Luke Sergott maintained an Overweight rating on Danaher Corporation (NYSE:DHR) stock and lowered the price target to $277 from $285.  

Among the hedge funds being tracked by Insider Monkey, Washington-based investment firm Fisher Asset Management is a leading shareholder in Danaher Corporation (NYSE:DHR) with 3.9 million shares worth more than $1 billion. 

In addition to Amazon.com, Inc. (NASDAQ:AMZN), Microsoft Corporation (NASDAQ:MSFT), and Meta Platforms, Inc. (NASDAQ:FB), Danaher Corporation (NYSE:DHR) is one of the stocks that members of Congress own. 

In its Q3 2022 investor letter, L1 Capital International, an asset management firm, highlighted a few stocks and Danaher Corporation (NYSE:DHR) was one of them. Here is what the fund said:

“During the quarter we made an initial investment in one new business, added to our investment in Booking Holdings (Booking), and reduced our investment in IQVIA, using the proceeds to increase our investment in Danaher Corporation (NYSE:DHR).

IQVIA and Danaher have overlapping drivers, with both companies being ‘picks and shovels’ businesses servicing the life sciences industry. We remain comfortable with both businesses and determined it was more appropriate to make the position size in each company more comparable. We would consider making our investment in both companies larger if valuations become even more compelling.”

Click to continue reading and see 5 Stocks That Members of Congress Own.

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Disclosure. None. 15 Stocks That Members of Congress Own is originally published on Insider Monkey.

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