Insider Look: Multiple Violations in Congress Exposed

This Week’s Quiver Newsletter:

Each week, we are highlighting the top Quiver Strategies trending right now:

What you can expect to read about today:

• An overview of recent notable Congress trades, including multiple violations by members of Congress.

• Dive into our newest fundraising leaderboard to see fundraising progress broken down by politician and party

• See and analyze the latest insider trades including a major sale in Amazon stock by Jeff Bezos and more.

• Read about Blackrock’s $10.6 Trillion Assets Under Management Record

🚨ELECTION DONOR DASHBOARD🚨

Insights from our Politician Fundraising Leaderboard

Track the individual donors who have spent the most money on campaign contributions this election cycle.

This dashboard shows the most recent data on for each donor:

Largest Amount Donated (Republican):

Ken Griffin (Citadel Securities) has donated $59 million this election cycle, coming in at number 3 overall. In April 2024 he donated $4 million to the Congressional Leadership Fund, a super PAC backed by House Republican leadership.

• His contribution, which will support Reps Juan Ciscomani (R-Ariz.), Don Bacon (R-Neb.), Michelle Steel (R-Calif.), and Jen Kiggans (R-Va.), is aimed at bolstering pragmatic conservatives in competitive districts.

• Griffin, a major GOP donor, has also contributed significant amounts to various other political causes and candidates, including $5 million to support Nikki Haley's presidential campaign and $10 million to the Keystone Renewal PAC for Dave McCormick's Senate bid.

Jeff Yass, co-founder of Susquehanna International Group, committed an a total of $69 million to the 2024 election cycle in, $8 million alone in April, bolstering his position as a significant political donor.

• Yass has directed these funds towards various conservative causes and candidates, reflecting his long-standing support for libertarian and free-market principles.

• His contributions are expected to influence key races and amplify the impact of super PACs aligned with his views. Yass's latest donations add to his substantial political giving history, including significant support for school choice initiatives and candidates who advocate for reduced government intervention in the economy

Largest Amount Donated (Democrat)

Reid Hoffman, co-founder of LinkedIn, has spent $2 million on President Joe Biden’s write-in campaign in New Hampshire, according to FEC records. This brings his total to $26 million for this election cycle.

• Hoffman, a prominent Democratic donor, continues to use his wealth to influence key political races. His latest contribution underscores his commitment to Biden's re-election efforts and highlights his strategic investments in the Democratic Party's success.

Fred Eychaner, a media mogul and longtime Democratic donor, has contributed significantly to the 2024 election cycle, with total donations surpassing $24 million.

• Eychaner's financial support primarily targets Democratic candidates and progressive causes, reinforcing his commitment to the party's agenda and values.

• Known for his substantial influence in political funding, Eychaner's latest contributions are strategically aimed at bolstering Democratic campaigns across the country.

• His continued contributions highlights his dedication to shaping the political landscape and supporting candidates who advocate for liberal policies.

Check out our Donation Leaderboard on Quiver:

LATEST INSIDER PURCHASES

Insights from our Insider Trading Dashboard

Jeff Bezos Sells $863.5M Worth of Amazon shares

The founder of (AMZN), Jeff Bezos sold nearly $1B of stock out of $5B liquidation plan that is expected to bring his ownership in Amazon to less than 9%.

The proposed sales of 25 million shares was disclosed in a notice filed after market hours on Tuesday. Amazon stock hit an all-time high of $200.43 on Tuesday and has jumped more than 30% so far in 2024.

Bezos is currently ranked as the second richest person in the world with an estimated net-worth of $214.4B.

CEO of Restoration Hardware Insider Purchases

Chairman & CEO of Restoration Hardware (RH), Gary Friedman has made purchases disclosed on June 27th totaling nearly $10 million ($9,999,978) with a purchase price between $213.67-$219.85.

RH is projected to achieve a 4.4% sales growth by 2024 due to continued confidence among high-earning consumers.

However, RH's stock suffers from a less optimistic 2024 forecast, with a predicted decrease in earnings per share (EPS) to $12.60 from $14.60 due to a reduced base year and increased interest costs

Check out our more Insider Trades on Quiver:

BLACKROCK HITS RECORD $10.6T IN ASSETS AMID ETF SURGE

BlackRock (BLK) achieved a record $10.6 trillion in assets under management in the second quarter, driven by substantial inflows into its exchange-traded funds (ETFs) and fixed-income products. The world's largest money manager attracted $51 billion to its long-term investment funds, with clients adding $83 billion to ETFs and $35 billion to fixed-income assets. CEO Larry Fink highlighted organic growth from private markets, retail active fixed income, and strong ETF inflows as key contributors.

Despite the strong performance, BlackRock faced challenges, including a $20 billion redemption from an insurance client and $35 billion of institutional outflows from index funds. However, the firm also saw $30 billion in net flows to cash-management and money-market funds. Performance fees rose $46 million, boosted by higher revenue from liquid alternatives, and the company added $2 billion to its illiquid alternatives business.

Continued on our News Feed.