Wells Fargo sits at the top of this month's Heat Map with 2 distinct Members picking up shares in the last 30 days. That's the threshold that puts a financial-services giant ahead of the rest of the field this cycle. We count distinct Members, not total trades, so a ticker with 8 Members and 8 trades beats one with 2 Members and 30 trades. This month's list is thin on consensus and heavy on financial services, with Visa, Mastercard, and S&P Global all making appearances alongside a pair of tech names and one ticker that the filings can't even be bothered to classify.
1 distinct Members across 3 trades in the last 30 days. Sector: Financial Services.
Holders include: Michael McCaul.
S&P Global rounds out the list. One Member, three trades in a company that rates the debt of the U.S. government. The circularity is left as an exercise for the reader.
1 distinct Members across 3 trades in the last 30 days. Sector: unclassified.
Holders include: April McClain Delaney.
Morningstar at number nine, sector unclassified by our data, which is ironic given that Morningstar's entire business model is classifying things. One Member, three trades.
1 distinct Members across 3 trades in the last 30 days. Sector: Financial Services.
Holders include: Michael McCaul.
One Member, three Mastercard trades. The credit-card interchange fight has been sitting in the Senate for two years. Somebody's portfolio has a rooting interest.
1 distinct Members across 3 trades in the last 30 days. Sector: Technology.
Holders include: Michael McCaul.
Intuit makes TurboTax. Congress writes the tax code. One Member apparently decided that was fine.
1 distinct Members across 5 trades in the last 30 days. Sector: unclassified.
Holders include: April McClain Delaney.
One Member, five trades in TDG, sector unclassified. TransDigm makes aerospace components and has a business model that the Pentagon's auditors have publicly complained about. Whoever this is, they have conviction.
2 distinct Members across 2 trades in the last 30 days. Sector: Unknown.
Holders include: Mark Warner, Shelley Moore Capito.
CORPCEG is listed as Unknown sector, which is doing a lot of work here. Two Members traded it. What it is, exactly, the disclosure ecosystem declines to say.
2 distinct Members across 2 trades in the last 30 days. Sector: Technology.
Holders include: Maria Elvira Salazar, Mark Warner.
Microsoft is practically a utility at this point, which means two Members buying it in the same 30-day window is either a conviction trade or just what happens when everyone owns the same index-adjacent names.
2 distinct Members across 2 trades in the last 30 days. Sector: Technology.
Holders include: David Taylor, Shelley Moore Capito.
Broadcom has a $69 billion acquisition and an ongoing antitrust conversation in Washington. Two Members decided that was a buying opportunity, not a reason to look elsewhere.
2 distinct Members across 2 trades in the last 30 days. Sector: Financial Services.
Holders include: David Taylor, Michael McCaul.
Visa at number two, right behind the other big payments incumbent. Congress holds payment-network stocks the way the rest of us hold grudges: quietly and for a long time.
2 distinct Members across 2 trades in the last 30 days. Sector: Financial Services.
Holders include: Lloyd Smucker, Mark Warner.
Wells Fargo leads the Hill's watchlist the same month the Senate is jawboning about bank oversight. The Members didn't have to buy it. They chose to.
This month's Heat Map maxes out at 2 distinct Members per ticker. That's a quiet 30 days by historical standards. When the list is dominated by financial-services names and the Senate has active legislation touching bank regulation and credit-card fees, the portfolio overlap is at minimum a conversation worth having.
Two Members buying the same name in 30 days isn't coordination by definition. But it's not nothing, either. The receipts are public. Make of them what you make of them.