Rick Larsen spent part of this week doing the kind of constituent outreach that looks great in a local newspaper: dropping by Lynden to talk to voters and introducing bipartisan legislation to help Point Roberts, the bizarre American exclave cut off from the rest of Washington by Canadian geography. Good stuff. Photogenic. The kind of thing that fills a press release with zero controversy. Separately, on April 7, Larsen filed eight stock trades in a single day, including a purchase in Carrier Global, a company whose business sits comfortably inside the jurisdiction of the House Committee on Transportation and Infrastructure, the committee where Larsen has a seat. The trades are disclosed. The committee overlap is real. The interpretation is yours.
Eight Trades, One Day, One Committee Flag
All eight of Larsen's disclosed trades landed on the same date: April 7, 2026. Four sales, four purchases, each in the $1,000-$15,000 range. Per his disclosure record on Blind Trust, the activity reads like a single portfolio rebalancing session.
The sales: American Express (AXP), American Water Works (AWK), Broadridge Financial Solutions (BR), and Paychex (PAYX).
The purchases: Carrier Global (CARR), Casey's General Stores (CASY), NextEra Energy (NEE), and Wabtec (WAB).
Three of those eight trades carry a committee overlap flag. Larsen sits on the House Committee on Transportation and Infrastructure. Carrier Global makes HVAC and refrigeration equipment with deep roots in commercial and industrial building systems. Wabtec builds freight and transit locomotives. Both land in territory the Transportation and Infrastructure committee touches. NextEra Energy and American Water Works pull in a utilities angle. The committee's remit's broad; so is Larsen's April 7 shopping list.
The CARR Trade Is the One Worth Watching
Of the three flagged trades, the Carrier Global purchase is the sharpest angle. Larsen bought CARR on April 7. In the 30 days that followed, it posted 11.3% alpha over the S&P 500. That's the best single-trade result in his scored sample.
Pause for a second: Carrier Global's core business, building systems and HVAC infrastructure, is precisely the kind of sector that gets discussed in transportation and infrastructure committee rooms. Supply chain logistics, building codes, infrastructure spending. The company is not a mystery holding for someone on that committee.
The Wabtec purchase (WAB) on the same day is similarly on-theme. Wabtec is a major supplier to freight railroads and transit agencies, the kind of company that gets named in infrastructure funding conversations. No 30-day alpha score was flagged for WAB in the best/worst lists, which means it landed somewhere in the middle of the pack.
Disclosure: Carrier Global and Wabtec are identified in Blind Trust's data as carrying a Transportation committee overlap. That's the conflict-of-interest lens this publication applies. The trades are legal, disclosed, and within the statutory window. Members are required to disclose. They are not required to divest, recuse, abstain, or acknowledge the optics.
The AWK Sale Is the Other Side of That Coin
Larsen also sold American Water Works on April 7. AWK carries a utilities committee overlap in the data. The 30-day result: the sale generated -16.7% alpha versus the S&P 500. In plain English, AWK went up after he sold it, by a meaningful margin. That's the worst single-trade result in his scored 20-trade sample.
The Broadridge Financial sale was almost as bad: -14.6% alpha. He sold BR on April 7 and BR proceeded to do well.
This is the part where a more charitable framing would call it a wash. Two committee-overlap trades went right (CARR's purchase), one went badly wrong (AWK's sale). The data doesn't let you build a narrative of prescient portfolio management here.
The Full Scorecard Is Ugly
Larsen's complete 90-day alpha record, per Blind Trust's scoring: 8 positive trades out of 20 scored. Twelve trades lost ground versus the S&P 500. Mean 30-day alpha across the sample: -1.4%.
That's a below-market record. The CARR purchase looks good in isolation. The portfolio as a whole does not. The worst trade in the sample, AWK's sale at -16.7%, erases a lot of the CARR gain in aggregate terms.
The honest read: It's the trading record of someone who sometimes picks right and sometimes picks badly wrong, in roughly the same proportions as a retail investor throwing darts at a sector ETF list. The committee overlap on CARR is real and worth flagging. The overall alpha record doesn't support a stronger story than that.
What He's Been Voting On
Larsen's recent floor votes skew toward financial-sector legislation, though none of it falls within his Transportation and Infrastructure committee lane. On May 20, he voted Yea on the American Access to Banking Act, the Community Bank Deposit Access Act of 2025, and the Keeping Deposits Local Act, all of which passed. Banking legislation. His committee covers bridges and rail, not deposit insurance. Floor votes outside a member's committee jurisdiction don't carry the same oversight angle, and the data doesn't flag any vote-trade overlaps for Larsen in the current window.
The one vote with potential portfolio adjacency is his Yea on the 21st Century ROAD to Housing Act (H.R. 6644), which passed on June 23. Housing infrastructure legislation touching his committee's domain. No trade in the disclosure record corresponds to that vote's timing, so there's no overlap to flag.
The News Peg: Point Roberts and Constituent Maintenance
The coverage driving Larsen into Google News this week is, genuinely, about a peninsula. His office announced legislation to support Point Roberts and similar pene-exclave communities, small American territories geographically isolated by international borders. Residents of Point Roberts have to drive through Canada to reach the rest of Washington State. It's a real logistical problem for real people and it makes for a clean bipartisan press release. The Lynden Tribune caught up with him on the constituent outreach trail.
None of this is connected to the April 7 trades in any direct way. There's no vote-trade overlap in the data, no timing coincidence worth naming. The news peg here is simply that Larsen is in the news cycle this week, and the trades are sitting in the disclosure database, and at least three of them touch sectors his committee oversees.
The Carrier Global Question
Carrier Global makes heating, ventilating, and air conditioning systems. It also makes refrigeration equipment for commercial applications. The House Transportation and Infrastructure Committee marks up legislation on commercial building systems, federal facilities, and supply chain infrastructure. The committee overlap is flagged in the data. The purchase happened April 7. The 30-day alpha came in at plus 11.3 points over the index.
What drove CARR higher in that window is a separate question the data doesn't answer. The trade is disclosed, the amount is relatively modest ($1,000-$15,000), and the 30-day result is in the public record. The rest is connective tissue a reader can supply themselves.
The receipts are public. Make of them what you make of them.