Congress stock portfolio value increased more than 2X in 2024

[Ray Bogan]

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Five members of Congress more than doubled the value of their stock portfolios in 2024, in some cases they beat the market by four to six times. The eye-popping increase will raise further questions about members trading stocks while being privy to information the public is not. 

Overall, Democrats saw their portfolios increase 31% while Republicans increased by 26%. They both beat the S&P 500 which skyrocketed by 23%. 

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The information was compiled by Unusual Whales, a company that provides services to retail traders. 

Here are the top five individual members- 

1. Republican Rep. David Rouzer whose stock portfolio increased 149%
2. Democratic Rep. Debbie Schultz who saw an increase of 142.3%
3. Democratic Sen. Ron Wyden had a 123.8% increase 
4. Republican Rep. Roger Williams who was up 111.2% for the year 
5. Democratic Rep. Morgan McGarvey who hit 105.8%

How did they do so well? They overwhelmingly bought into big tech companies like Nvidia which went up 154% for the year. 

If you look at holdings by sector – Democrats’ portfolios are 49.4% tech stocks, while Republicans’ are 15.8%, which is still more than any other industry. 

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The report also points out that some of the gains were in stocks that benefited from bills they passed like the Chips Act. 

Unusual Whale created this report by reviewing members Periodic Transaction Reports, or PTRs, which are available online. Members must disclose stock transactions greater than $1,000 within 45 days. The public reports contain the type of asset, the amount and the date of the transaction. 

Why should you care? Unusual Whales says lawmakers trading stocks while legislating is inherently problematic. 

“Congress members shape policies that can directly impact markets. Whether or not they act on insider knowledge, the appearance of potential abuse undermines public trust,” the report stated.  

There are many members who say lawmakers should not be allowed to buy individual stocks. A ban on the practice has not been approved, despite multiple attempts.