Chip Roy dropped $15 million in a single disclosed purchase over the last 90 days, parking it almost entirely in Atlas Energy Solutions. One trade. One ticker. $15 million. The rest of the top ten collectively spent less than a third of that and needed a combined 207 transactions to do it. What follows is a ranked list of the biggest buyers in Congress by disclosed purchase volume over the rolling 90-day window, measured at the midpoint of STOCK Act disclosure ranges. Those ranges top out at 'over $50 million,' which means the leaderboard structurally understates anyone operating at the high end. Roy is not at the high end of the range. He is the range.
Photo: U.S. House of Representatives — Office of the Clerk, Public domain, via Wikimedia Commons6 disclosed purchases totaling $48K at midpoint over the last 90 days. Top concentration: $JPM.
Six purchases, $48K, led by JPMorgan Chase. Keating sits on the House Foreign Affairs Committee and the House Armed Services Committee. The big bank position is conventional. The presence on this list at $48K tells you more about the top of the list than it does about the bottom. $JPM
Photo: Ike Hayman, House Creative Services, Public domain, via Wikimedia Commons3 disclosed purchases totaling $48K at midpoint over the last 90 days. Top concentration: $T.
Three purchases totaling $48K, concentrated in AT&T. Moore is a freshman from North Carolina, former state House Speaker, and apparently a believer in legacy telecom. AT&T has had a complicated decade. Moore is optimistic. $T
Photo: Ike Hayman, House Creative Services, Public domain, via Wikimedia Commons8 disclosed purchases totaling $64K at midpoint over the last 90 days. Top concentration: $HD.
Eight purchases, $64K, heaviest in Home Depot. Taylor is a freshman from North Carolina. Home Depot is a fine company. There's not a lot more to say about $64K in Home Depot except that someone had to be eighth on this list. $HD
Photo: Unknown, Unknown license, via Wikimedia Commons8 disclosed purchases totaling $64K at midpoint over the last 90 days. Top concentration: $WFC.
Warner put $64K into eight purchases with Wells Fargo leading the stack. He's the ranking member on the Senate Intelligence Committee and one of the chamber's more prominent voices on financial regulation. The bank stock is, at minimum, on-brand. $WFC
Photo: LogCabinRepublicanFL, Public domain, via Wikimedia Commons8 disclosed purchases totaling $138K at midpoint over the last 90 days. Top concentration: $CARR.
Eight purchases, $138K, top concentration in Carrier Global. Salazar represents a South Florida district and sits on the House Foreign Affairs Committee. Carrier makes HVAC systems and building technology. Unremarkable as a portfolio choice; less unremarkable as an $138K commitment in a single quarter. $CARR
Photo: Ike Hayman, House Creative Services, Public domain, via Wikimedia Commons31 disclosed purchases totaling $272K at midpoint over the last 90 days. Top concentration: $TDG.
Thirty-one purchases for $272K, concentrated in TransDigm Group, which makes highly specialized aerospace components and is known on Wall Street for aggressive pricing on parts the Pentagon can't easily source elsewhere. McClain Delaney sits on the House Armed Services Committee. The overlap is noted. $TDG
Photo: U.S. House Office of Photography, Public domain, via Wikimedia Commons27 disclosed purchases totaling $454K at midpoint over the last 90 days. Top concentration: $ALH.
Twenty-seven purchases totaling $454K, led by a ticker most readers won't recognize off the top of their heads. McCaul chairs the House Foreign Affairs Committee, which is a fine perch from which to watch the world and also, apparently, to buy stock in it. $ALH
Photo: U.S. Congress/Eric Connolly, Public domain, via Wikimedia Commons92 disclosed purchases totaling $1.0M at midpoint over the last 90 days. Top concentration: $JPM.
Ninety-two purchases in 90 days works out to roughly one trade per day, which is a pace most retail investors would find exhausting and most compliance officers would find interesting. Top concentration in JPMorgan Chase. Khanna represents Silicon Valley and sits on the House Armed Services Committee. $JPM
Photo: Kristie Boyd; U.S. House Office of Photography, Public domain, via Wikimedia Commons23 disclosed purchases totaling $1.3M at midpoint over the last 90 days. Top concentration: $MSFT.
Twenty-three purchases, $1.3 million, heaviest in Microsoft. Gottheimer sits on the House Permanent Select Committee on Intelligence, which among other things oversees federal technology contracts. The portfolio has opinions about Big Tech. $MSFT
Photo: U.S. Congress, Public domain, via Wikimedia Commons1 disclosed purchases totaling $15.0M at midpoint over the last 90 days. Top concentration: $AESI.
One purchase. $15 million. Atlas Energy Solutions is an oilfield services company. Roy represents Texas. The Venn diagram of 'Texas congressman' and 'oilfield bet' is a single circle, which doesn't make the size of it any less worth staring at. $AESI
Ten members. 207 combined transactions at ranks two through ten. One transaction at rank one, worth more than all of them put together.
These are people who receive classified intelligence briefings on geopolitical risk, energy markets, and the economic outlook as a routine part of their jobs. They're also, per public filings, active buyers. The STOCK Act requires disclosure. It doesn't require anything else. The receipts are public. Make of them what you make of them.