Breaking: Pelosi's 38% Call Option Win & Trump Media's Surge

What you can expect to read about today:

• An overview of recent notable Congress trades, including a huge return on a Call Option trade by Nancy Pelosi.

• Dive into our institutional dashboard and read about the huge investments into Trump Media.

• Read about the payrolls downward revision by the Fed that is moving the markets today.

LAST WEEK’S CONGRESSIONAL TRADES 

Insights from our Congress Trading Dashboard

• Representative Nancy Pelosi might have done it again. (PANW) stock has now risen 38% since she bought up to $250k in 1/17/25 $200 Call options in late February. She perfectly timed the dip with her second options purchase this year. Trade up on Quiver website.

• Representative Scott Franklin just disclosed a purchase of up to $115k of General Dynamics (GD) stock. He also sits on the Appropriation Subcommittee on Military Construction

• We recently reported on a purchase of Lockheed Martin (LMT) stock by Representative Jared Moskowitz. It has now risen 20% since the trade. He also sits on the House Committee on Foreign Affairs.

• Representative Josh Gottheimer just disclosed a purchase of Northrop Grumman stock, (NOC). Northrop just raised profit forecasts, amid increased global defense spending. Gottheimer sits on the House Intelligence Committee.

To see more details about their trades, and how they’ve performed since, check out our:

🚨13F INSTITUTIONAL CHANGES🚨

Insights from our 13F Institutional Dashboard

We have an institutional 13F dashboard, which scrapes SEC 13-F filings to find newly disclosed portfolio position changes by institutional investors, along with their most recently reported holdings.

Huge Institutional Growth in Trump Media (DJT):

By the Numbers

• Total institutional ownership skyrocketed from approximately 500,000 shares at the end of Q1 to nearly 12 million shares by Q2's close.

• The number of institutional investors ballooned from a mere 30 in Q1 to 233 in Q2.

Big Players Make Big Moves

Several financial heavyweights have taken substantial positions in DJT:

1. Vanguard Group Inc: Leading the charge with a staggering $94,316,070 investment.

2. BlackRock: Not far behind, adding $71,531,010 to their portfolio.

3. Susquehanna International Group: ~$34,562,516 stake.

4. Geode Capital Management: ~$30,844,605 stake.

5. Citadel Advisors: ~$18,210,768 stake.

Other notable entries include State Street ($14,415,371) and D.E. Shaw & Co ($12,528,312)

What Does This Mean?

This influx of institutional money raises questions about the perceived potential of Trump Media, which had less than $1m of revenue in Q1 2024. Are these investment giants betting on further “meme stock” price momentum in DJT? Or are they anticipating that the stock bounces back if Trump wins a second term?

It's worth noting that while institutional backing can often be seen as a vote of confidence, it doesn't guarantee future success. The media landscape is notoriously volatile, and Trump Media faces significant challenges and controversies.

Check out our 13F Institutional Dashboard on Quiver:

U.S. PAYROLLS REVISED DOWN 818K

The U.S. job market may have been significantly weaker over the past year than previously believed, as the Bureau of Labor Statistics (BLS) has indicated a potential downward revision of payroll numbers by 818,000 for the 12 months through March 2024. This would mark the largest downward adjustment since 2009, suggesting that the labor market began cooling much earlier than anticipated. The revision, which reduces the monthly job growth estimate from an average of 242,000 to about 174,000, is still indicative of a healthy labor market but reflects a moderation from the post-pandemic surge in hiring.

The revisions come at a critical time as the Federal Reserve assesses its next move in the context of a slowing economy. The labor market had been one of the pillars of economic strength, but these revisions suggest that the cooling began well before recent concerns arose over rising unemployment and slower job creation. The BLS's adjustments, driven by more accurate data from the Quarterly Census of Employment and Wages (QCEW), have put additional pressure on the Fed to consider a more dovish approach. The market's reaction was swift, with Treasuries edging higher as traders priced in a higher likelihood of rate cuts.

Continued on our News Feed.

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