{"id":"B001291","trades":[{"date":"2016-04-08","filed":"2016-05-13","ticker":"OA","issuer":"Orbital ATK, Inc.","asset_type":"unknown","direction":"buy","amount":[1001,15000],"owner":"self","sector":null,"late":false,"trade_id":"H20005154-001","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2016/20005154.pdf","in_jurisdiction":false,"car_5":null},{"date":"2016-04-19","filed":"2016-05-13","ticker":"OA","issuer":"Orbital ATK, Inc.","asset_type":"unknown","direction":"sell","amount":[1001,15000],"owner":"self","sector":null,"late":false,"trade_id":"H20005154-002","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2016/20005154.pdf","in_jurisdiction":false,"car_5":null},{"date":"2016-06-28","filed":"2016-07-14","ticker":"FTAI","issuer":"Fortress Transportation and Infrastructure Investors LLC Common Shares","asset_type":"unknown","direction":"buy","amount":[1001,15000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20005532-001","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2016/20005532.pdf","in_jurisdiction":false,"car_5":-0.000894},{"date":"2022-03-29","filed":"2023-06-09","ticker":"BHP","issuer":"BHP Group Limited American Depositary Shares","asset_type":"stock","direction":"buy","amount":[1001,15000],"owner":"self","sector":"Materials","late":true,"trade_id":"H20005641-001","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2023/20005641.pdf","in_jurisdiction":false,"car_5":0.041476},{"date":"2022-06-02","filed":"2023-06-09","ticker":"WDS","issuer":"Woodside Energy Group Limited American Depositary Shares, each representing One Ordinary Share","asset_type":"stock","direction":"buy","amount":[1001,15000],"owner":"self","sector":"Energy","late":true,"trade_id":"H20005641-004","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2023/20005641.pdf","in_jurisdiction":false,"car_5":0.083122},{"date":"2022-06-27","filed":"2023-06-09","ticker":"BHP","issuer":"BHP Group Limited American Depositary Shares","asset_type":"stock","direction":"buy","amount":[15001,50000],"owner":"joint","sector":"Materials","late":true,"trade_id":"H20005641-002","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2023/20005641.pdf","in_jurisdiction":false,"car_5":-0.071502},{"date":"2022-08-02","filed":"2023-06-09","ticker":"FIP","issuer":"FTAI Infrastructure Inc.","asset_type":"stock","direction":"buy","amount":[1001,15000],"owner":"self","sector":"Industrials","late":true,"trade_id":"H20005641-003","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2023/20005641.pdf","in_jurisdiction":false,"car_5":null},{"date":"2026-05-05","filed":"2026-05-18","ticker":"CODI","issuer":"D/B/A Compass Diversified Holdings Shares of Beneficial Interest","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":"Materials","late":false,"trade_id":"H20034522-001","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":-0.018856},{"date":"2026-05-05","filed":"2026-05-18","ticker":"ENB","issuer":"Enbridge Inc Common Stock","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20034522-002","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":0.003295},{"date":"2026-05-05","filed":"2026-05-18","ticker":"ET","issuer":"Energy Transfer LP Common Units","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":"Utilities","late":false,"trade_id":"H20034522-003","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":0.012895},{"date":"2026-05-05","filed":"2026-05-18","ticker":"FTAI","issuer":"FTAI Aviation Ltd. - Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20034522-004","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":-0.051087},{"date":"2026-05-05","filed":"2026-05-18","ticker":"FIP","issuer":"FTAI Infrastructure Inc. - Common Stock","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20034522-005","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":0.23508},{"date":"2026-05-05","filed":"2026-05-18","ticker":"HII","issuer":"Huntington Ingalls Industries, Inc. Common Stock","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20034522-006","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":true,"car_5":0.000467},{"date":"2026-05-05","filed":"2026-05-18","ticker":"IAG","issuer":"Iamgold Corporation Ordinary Shares","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":"Materials","late":false,"trade_id":"H20034522-007","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":-0.126261},{"date":"2026-05-05","filed":"2026-05-18","ticker":"RRC","issuer":"Range Resources Corporation Common Stock","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":"Energy","late":false,"trade_id":"H20034522-008","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":0.063073},{"date":"2026-05-05","filed":"2026-05-18","ticker":"SOUHY","issuer":"SOUTH32 LTD SPNS/ADR","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":null,"late":false,"trade_id":"H20034522-009","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":-0.043871},{"date":"2026-05-05","filed":"2026-05-18","ticker":"WTSHF","issuer":"WESTSHORE TERM INVST CP","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":null,"late":false,"trade_id":"H20034522-010","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":0.010575},{"date":"2026-05-05","filed":"2026-05-18","ticker":"WPM","issuer":"Wheaton Precious Metals Corp Common Shares","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":"Materials","late":false,"trade_id":"H20034522-011","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":-0.118287},{"date":"2026-05-05","filed":"2026-05-18","ticker":"WDS","issuer":"Woodside Energy Group Limited American Depositary Shares, each representing One Ordinary Share","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":"Energy","late":false,"trade_id":"H20034522-012","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2026/20034522.pdf","in_jurisdiction":false,"car_5":0.06046}],"tests":[{"id":"T1","reading":"does_not_fit","evidence":"statistical","summary":"79% of 19 trades were in the lowest disclosure band ($1,001-$15,000); trades just before large company-specific moves were not larger than usual.","detail":"Lowest-band share 0.789, 90% Wilson [0.605, 0.902]. Event-linked size gap Delta_z = 0.00 (within-issuer permutation p = 1.000); 0 event-linked trades with z > 3 in bands of $50,001 or more.","estimate":{"label":"Lowest-band share","value":0.789474,"ci":[0.605004,0.901779],"ci_level":0.9,"unit":"share"},"power_limited":false,"screen":false,"p_value":1,"p_holm":1,"q_bh":1,"robust":null,"robustness":[],"sources":[],"stats":{"n":19,"lowest_band_share":0.789474,"lowest_band_ci":[0.605004,0.901779],"share_over_50k":0.052632,"max_z":0,"size_gap":0,"size_gap_p":1,"event_linked":3,"event_linked_outliers":0}},{"id":"T2","reading":"open_question","evidence":"statistical","summary":"14 different companies; the effective number of equally sized positions is 5 and trading spans 39% of maximum sector diversity.","detail":"Dollar HHI 0.187 (identified set [0.085, 0.461]); trade-count HHI 0.080 vs. 95th percentile 0.064 of 19 random draws from all congressional trades (p = 0.006). Normalized sector entropy 0.39 [0.31, 0.47]. Top three issuers (FTAI, BHP, WPM) carry at least 25% of dollar volume.","estimate":{"label":"Effective number of issuers","value":5.347159,"ci":[2.170721,11.827451],"ci_level":0.9,"unit":"count"},"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"n":19,"issuers":14,"hhi_mid":0.187015,"hhi_bounds":[0.084549,0.460676],"n_eff":5.347159,"hhi_count":0.080332,"peer_benchmark_p95":0.063712,"peer_benchmark_p":0.006,"sector_entropy":0.386908,"sector_entropy_ci":[0.307709,0.468273],"top3_share_lower":0.250776,"top3":["FTAI","BHP","WPM"],"top3_tied_to_events":true}},{"id":"T3","reading":"open_question","evidence":"statistical","summary":"12% of trading days were batches of three or more companies; 0% of trades look routine; 15.8% of trades came within five trading days before a large company-specific move (chance alone: 3.1%).","detail":"Batch-day share 1/8, Wilson [0.03, 0.41]; index of dispersion 7.94 (chi-square p = 0); routine share 0.00 (portfolio-routine or Cohen-Malloy-Pomorski two-year rule). Proximity share 0.158 vs. circular-shift null mean 0.031, p = 0.040.","estimate":{"label":"Batch-day share","value":0.125,"ci":[0.028399,0.411143],"ci_level":0.9,"unit":"share"},"power_limited":false,"screen":true,"p_value":0.04,"p_holm":0.16,"q_bh":0.353294,"robust":null,"robustness":[],"sources":[],"stats":{"n":19,"trade_days":8,"batch_share_trades":0.631579,"batch_day_share":0.125,"batch_day_ci":[0.028399,0.411143],"dispersion_index":7.943161,"dispersion_p":0,"routine_share":0,"proximity_share":0.157895,"proximity_null_mean":0.030693,"proximity_null_p95":0.105263,"proximity_p":0.04,"proximity_nonroutine":0.157895,"proximity_routine":0}},{"id":"T4","reading":"open_question","evidence":"statistical","summary":"Across 16 priced trades, purchases and sales moved 5.41% in the trade's direction relative to the market over the next month on average.","detail":"Mean signed CAR(1,21) = 0.0541; 90% KP interval [-0.0468, 0.1549]; t_BMP = 1.34, r-bar = 0.133, t_KP = 0.72, Patell Z = 1.38, Corrado Z = 1.89. Dollar-weighted identified set [-0.0051, 0.1227]. Calendar-time alpha 32.61%/yr (NW t = 0.56, 100 days).","estimate":{"label":"Mean signed 21-day CAR","value":0.054063,"ci":[-0.046823,0.154949],"ci_level":0.9,"unit":"return"},"power_limited":false,"screen":false,"p_value":0.286508,"p_holm":0.859524,"q_bh":0.982752,"robust":false,"robustness":[{"variant":"Horizon 5 days","reading":"open_question","value":0.00498},{"variant":"Horizon 63 days","reading":"open_question","value":0.145337},{"variant":"Excluding largest batch date","reading":"not_assessed","value":0.014998},{"variant":"Self-owned accounts only","reading":"open_question","value":0.054063},{"variant":"Dollar-weighted (bounds)","reading":"open_question","value":0.122668},{"variant":"Calendar-time alpha (annualized)","reading":null,"value":0.326113}],"sources":[],"stats":{"n":16,"theta":0.054063,"ci":[-0.046823,0.154949],"p":0.240994,"t_kp":0.721015,"rbar":0.133149,"se_cs":0.030949,"se_kp":0.057549,"t_cs":1.746841,"t_bmp":1.340703,"patell_z":1.379186,"corrado_z":1.889356,"dollar_weighted_bounds":[-0.005144,0.122668],"calendar_time":{"alpha_daily":0.001294,"se":0.002296,"days":100,"t":0.563615,"p_one_sided":0.286508},"calendar_alpha_ci":[-0.002731,0.005319],"by_horizon":{"5":{"n":16,"theta":0.00498,"ci":[-0.065235,0.075196],"p":0.41438,"t_kp":0.2201,"rbar":0.133149,"se_cs":0.02154,"se_kp":0.040053,"t_cs":0.231213,"t_bmp":0.409269,"patell_z":0.508912,"corrado_z":1.037249},"21":{"n":16,"theta":0.054063,"ci":[-0.046823,0.154949],"p":0.240994,"t_kp":0.721015,"rbar":0.133149,"se_cs":0.030949,"se_kp":0.057549,"t_cs":1.746841,"t_bmp":1.340703,"patell_z":1.379186,"corrado_z":1.889356},"63":{"n":16,"theta":0.145337,"ci":[-0.010304,0.300979],"p":0.03592,"t_kp":1.936786,"rbar":0.133149,"se_cs":0.047747,"se_kp":0.088783,"t_cs":3.043938,"t_bmp":3.601389,"patell_z":2.521115,"corrado_z":3.170245}}}},{"id":"T5","reading":"not_assessed","evidence":"descriptive","summary":"No market-wide shocks or documented events fell within five trading days after the member's trades.","detail":"No market-wide shocks or documented events fell within five trading days after the member's trades.","estimate":null,"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"n_episodes":0}},{"id":"T6","reading":"not_assessed","evidence":"statistical","summary":"Trading arrangement: not documented; trading during absence ran at 0.00 times the normal rate.","detail":"Trading arrangement: not documented; trading during absence ran at 0.00 times the normal rate.","estimate":{"label":"Absence rate ratio","value":0,"ci":[0,37.230021],"ci_level":0.9,"unit":"ratio"},"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"rate_ratio":0,"rate_ratio_ci":[0,37.230021],"rate_ratio_batchdays":0,"rate_ratio_batchdays_ci":[0,99.018964],"absence_days":12,"trades_in_absence":0}},{"id":"T7","reading":"open_question","evidence":"descriptive","summary":"4 of 19 trades (21.1%) were disclosed late; median lag 13 days.","detail":"Late share 0.211, Wilson [0.098, 0.395]; 90th percentile lag 352 days; longest 437 days.","estimate":{"label":"Late share","value":0.210526,"ci":[0.098221,0.394996],"ci_level":0.9,"unit":"share"},"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"n":19,"amendment_rows_excluded":0,"late":4,"late_from_trade":4,"excused_by_notification":0,"late_share":0.210526,"late_ci":[0.098221,0.394996],"median_lag":13,"p90_lag":352,"max_lag":437,"filings":4,"late_filings":1,"late_priced":3,"timely_priced":13,"late_priced_dates":3}},{"id":"T8","reading":"does_not_fit","evidence":"descriptive","summary":"14% of the member's mapped trading by dollar value was in industries their committees oversee, against 16% for a comparable benchmark.","detail":"Committees HSPW, HSSY; jurisdiction sectors Aerospace & Defense, Air Freight & Logistics, Biotechnology, Cargo Ground Transportation, Construction & Engineering, Construction Machinery & Heavy Transportation Equipment, Construction Materials, Environmental & Facilities Services, Hotels, Resorts & Cruise Lines, Passenger Airlines, Passenger Ground Transportation, Rail Transportation, Semiconductor Materials & Equipment, Semiconductors, Water Utilities. Dollar share 0.140 (identified set [0.039, 0.355], bootstrap 0.000-0.254); benchmarks S&P 500 0.156, congressional peers 0.140.","estimate":{"label":"Jurisdiction excess share","value":-0.016346,"ci":[-0.156436,0.097125],"ci_level":0.9,"unit":"share"},"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"n":15,"in_jurisdiction_trades":1,"share":0.14009,"share_bounds":[0.039476,0.354575],"share_ci":[0,0.253561],"benchmark_sp500":0.156436,"benchmark_peers":0.14026,"excess":-0.016346,"excess_ci":[-0.156436,0.097125],"committees":["HSPW","HSSY"],"jurisdiction_sectors":["Aerospace & Defense","Air Freight & Logistics","Biotechnology","Cargo Ground Transportation","Construction & Engineering","Construction Machinery & Heavy Transportation Equipment","Construction Materials","Environmental & Facilities Services","Hotels, Resorts & Cruise Lines","Passenger Airlines","Passenger Ground Transportation","Rail Transportation","Semiconductor Materials & Equipment","Semiconductors","Water Utilities"]}},{"id":"T9","reading":"not_assessed","evidence":"descriptive","summary":"1 priced trades fell in affected industries in the 30 days before the member's committee events and 15 did not; at least 10 of each are needed to compare them.","detail":"1 priced trades fell in affected industries in the 30 days before the member's committee events and 15 did not; at least 10 of each are needed to compare them.","estimate":null,"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"n":1,"n_other":15,"events":2190}},{"id":"T10","reading":"open_question","evidence":"statistical","summary":"After scrutiny on 2023-06-20, trading ran at 4.29 times its earlier rate.","detail":"After scrutiny on 2023-06-20, trading ran at 4.29 times its earlier rate. Change point 2016-04-20 (p = 0.006).","estimate":{"label":"Rate ratio after/before","value":4.292571,"ci":[1.798882,10.85036],"ci_level":0.9,"unit":"ratio"},"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[{"title":"Raw Story: four 2022 purchases disclosed late","url":"https://www.rawstory.com/raw-investigates/congress-stock-act/"}],"stats":{"changepoint":"2016-04-20","changepoint_LR":14.21737,"changepoint_p":0.006,"tradeday_rate_before":0.25,"tradeday_rate_after":0.00229,"scrutiny_date":"2023-06-20","rate_ratio":4.292571,"rate_ratio_ci":[1.798882,10.85036]}},{"id":"T11","reading":"does_not_fit","evidence":"statistical","summary":"After adjusting for noise, the member's trades rank at the 98% percentile of 134 members (shrunk estimate -0.28% per trade over a month).","detail":"Empirical Bayes: raw 0.0541, posterior -0.0028 (sd 0.0015); Congress mean -0.0028, between-member variance 0.000000.","estimate":{"label":"Shrunk signed 21-day CAR","value":-0.002769,"ci":[-0.005272,-0.000265],"ci_level":0.9,"unit":"return"},"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"raw":0.054063,"posterior_mean":-0.002769,"posterior_sd":0.001522,"congress_mean":-0.002769,"tau2":0,"percentile":0.977612,"members_compared":134,"lower95":-0.005752}},{"id":"T12","reading":"open_question","evidence":"statistical","summary":"3 trades were followed within two weeks by a large company-specific move; 0 were on the profitable side.","detail":"Hit rate 0.00, Clopper-Pearson [0.00, 0.63], exact one-sided p = 1.000; threshold |AR| > 3 sigma.","estimate":{"label":"Hit rate","value":0,"ci":[0,0.631597],"ci_level":0.9,"unit":"share"},"power_limited":true,"screen":false,"p_value":1,"p_holm":1,"q_bh":1,"robust":null,"robustness":[],"sources":[],"stats":{"n":3,"hits":0,"hit_rate":0,"ci":[0,0.631597],"priced":16,"share_followed":0.1875}},{"id":"T13","reading":"does_not_fit","evidence":"statistical","summary":"0% of trades had another member trading the same stock the same way within a week (chance alone: 1%).","detail":"Co-traded share 0.000; circular-shift null mean 0.009, 95th pct 0.053, p = 1.000.","estimate":{"label":"Co-traded share","value":0,"ci":null,"ci_level":null,"unit":"share"},"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":true,"robustness":[{"variant":"Without M001157, the member with the most trades, in the co-trade index","value":0,"reading":"does_not_fit"}],"sources":[],"stats":{"n":19,"cotraded_share":0,"null_mean":0.008506,"null_p95":0.052632,"excess_p":1,"cotraded_share_wo_top":0,"excess_p_wo_top":1}},{"id":"T14","reading":"not_assessed","evidence":"descriptive","summary":"No trades were reported in a spouse's or dependent's name.","detail":"No trades were reported in a spouse's or dependent's name.","estimate":null,"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"family_trades":0,"owner_unknown":0}},{"id":"T15","reading":"not_assessed","evidence":"descriptive","summary":"1 round trips but fewer than three priced.","detail":"1 round trips but fewer than three priced.","estimate":null,"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"round_trips":1,"share_in_round_trips":0.105263}},{"id":"T16","reading":"does_not_fit","evidence":"descriptive","summary":"No option trades were reported.","detail":"No option trades were reported.","estimate":null,"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"option_trades":0,"option_share":0}}]}