Gottheimer Bought Exxon. Then Hormuz Closed.

A $2.6B Musk verdict, SEC leadership in freefall, and $5.7M in new Congress trades this week.

THE QUIVER QUANT
EXECUTIVE SUMMARY

Rep. Josh Gottheimer (D-NJ) purchased Exxon stock twice in early February each trade up to $15K. He sits on the House Intelligence Committee. Weeks later, the Strait of Hormuz crisis disrupted roughly 20% of global oil supply. Crude surged past $100. XOM hit an all-time high of $170.99 on March 27. His position is up 25% while the broader market is down 9%.

On the insider side, Palo Alto Networks CEO Nikesh Arora made his first purchase in years $10.0M in PANW, down 21% over three months. Century Aluminum’s CFO sold for the first time in 814 days ($845K, stock up 88%). Ross Stores’ CMO unloaded $1.17M the largest sale on record. $3.0B in total insider volume across 816 filings.

Congress live net worth: Justice leads at $664M. Shreve climbs to #2 at $595M. Pelosi at $263M, up $2.24M on the week. Brad Knott wins the portfolio leaderboard at +4.46%. Vindman worst at -13.14%.

MIDTERMS
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Below: strategy performance, Congress portfolio leaderboard, insider trading, outside spending, and the editorial deep dive

STRATEGY PERFORMANCE

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THE EDITORIAL QUANT
The SEC’s Top Cop Quit. The Jury Found Musk Liable Anyway.

Margaret Ryan lasted six months as SEC Enforcement Director. She resigned March 16 after clashing with SEC Chair Paul Atkins over going soft on cases touching the president’s circle. Meanwhile, a federal jury found Elon Musk liable for his 2018 “funding secured” tweet — the very case the SEC had been pressured to settle. We mapped the full enforcement timeline, from Ryan’s appointment to the Musk verdict.

Also in this week’s editorial: a congressman bought DRS stock before two Pentagon contracts landed, and Justin Sun settled with the SEC for $10M on a case the agency says netted him $31M. Three stories. Three accountability gaps. See the full breakdown 

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