{"id":"W000830","trades":[{"date":"2025-03-24","filed":"2025-04-23","ticker":"AEP","issuer":"American Electric Power Company, Inc.","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":"Utilities","late":false,"trade_id":"H20027982-001","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.039905},{"date":"2025-03-24","filed":"2025-04-23","ticker":"BAC","issuer":"Bank of America Corporation Common Stock","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":"Financials","late":false,"trade_id":"H20027982-002","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":0.012686},{"date":"2025-03-24","filed":"2025-04-23","ticker":"CB","issuer":"Chubb Limited Common Stock","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Financials","late":false,"trade_id":"H20027982-003","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.040172},{"date":"2025-03-24","filed":"2025-04-23","ticker":"C","issuer":"Citigroup, Inc. Common Stock","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":"Financials","late":false,"trade_id":"H20027982-004","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":0.013533},{"date":"2025-03-24","filed":"2025-04-23","ticker":"KO","issuer":"Coca-Cola Company","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Consumer Staples","late":false,"trade_id":"H20027982-005","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.035735},{"date":"2025-03-24","filed":"2025-04-23","ticker":"CMCSA","issuer":"Comcast Corporation - Class A Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Communication Services","late":false,"trade_id":"H20027982-006","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.027349},{"date":"2025-03-24","filed":"2025-04-23","ticker":"DEO","issuer":"Diageo plc Common Stock","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":"Consumer Staples","late":false,"trade_id":"H20027982-007","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.006172},{"date":"2025-03-24","filed":"2025-04-23","ticker":"HD","issuer":"Home Depot, Inc.","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Consumer Discretionary","late":false,"trade_id":"H20027982-008","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.026986},{"date":"2025-03-24","filed":"2025-04-23","ticker":"INVA","issuer":"Innoviva, Inc. - Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Health Care","late":false,"trade_id":"H20027982-009","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.055516},{"date":"2025-03-24","filed":"2025-04-23","ticker":"INTC","issuer":"Intel Corporation - Common Stock","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":"Information Technology","late":false,"trade_id":"H20027982-011","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":true,"car_5":-0.017729},{"date":"2025-03-24","filed":"2025-04-23","ticker":"JNJ","issuer":"Johnson & Johnson Common Stock","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Health Care","late":false,"trade_id":"H20027982-012","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.011475},{"date":"2025-03-24","filed":"2025-04-23","ticker":"JPM","issuer":"JP Morgan Chase & Co. Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Financials","late":false,"trade_id":"H20027982-013","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.00606},{"date":"2025-03-24","filed":"2025-04-23","ticker":"LIN","issuer":"Linde plc - Ordinary Shares","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Materials","late":false,"trade_id":"H20027982-014","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.029265},{"date":"2025-03-24","filed":"2025-04-23","ticker":"LMT","issuer":"Lockheed Martin Corporation Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20027982-015","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":true,"car_5":-0.024966},{"date":"2025-03-24","filed":"2025-04-23","ticker":"MMC","issuer":"Marsh & McLennan Companies, Inc. Common Stock","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":null,"late":false,"trade_id":"H20027982-016","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":null},{"date":"2025-03-24","filed":"2025-04-23","ticker":"MCD","issuer":"McDonald's Corporation Common Stock","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Consumer Discretionary","late":false,"trade_id":"H20027982-017","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.029248},{"date":"2025-03-24","filed":"2025-04-23","ticker":"MDT","issuer":"Medtronic plc. Ordinary Shares","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Health Care","late":false,"trade_id":"H20027982-018","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.012329},{"date":"2025-03-24","filed":"2025-04-23","ticker":"MSFT","issuer":"Microsoft Corporation - Common Stock","asset_type":"stock","direction":"sell","amount":[250001,500000],"owner":"self","sector":"Information Technology","late":false,"trade_id":"H20027982-019","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":0.011687},{"date":"2025-03-24","filed":"2025-04-23","ticker":"NEE","issuer":"NextEra Energy, Inc. Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Utilities","late":false,"trade_id":"H20027982-021","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.014479},{"date":"2025-03-24","filed":"2025-04-23","ticker":"NVS","issuer":"Novartis AG Common Stock","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Health Care","late":false,"trade_id":"H20027982-022","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.00549},{"date":"2025-03-24","filed":"2025-04-23","ticker":"PG","issuer":"Procter & Gamble Company","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Consumer Staples","late":false,"trade_id":"H20027982-023","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.025934},{"date":"2025-03-24","filed":"2025-04-23","ticker":"RSG","issuer":"Republic Services, Inc. Common Stock","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20027982-024","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.032448},{"date":"2025-03-24","filed":"2025-04-23","ticker":"ROK","issuer":"Rockwell Automation, Inc. Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20027982-025","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":0.001166},{"date":"2025-03-24","filed":"2025-04-23","ticker":"RCL","issuer":"Royal Caribbean Cruises Ltd. Common Stock","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Consumer Discretionary","late":false,"trade_id":"H20027982-026","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":0.064363},{"date":"2025-03-24","filed":"2025-04-23","ticker":"RTX","issuer":"RTX Corporation Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20027982-027","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":true,"car_5":0.014629},{"date":"2025-03-24","filed":"2025-04-23","ticker":"SDZNY","issuer":"SANDOZ GROUP AG S/ADR","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":null,"late":false,"trade_id":"H20027982-028","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":0.03384},{"date":"2025-03-24","filed":"2025-04-23","ticker":"TXN","issuer":"Texas Instruments Incorporated - Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Information Technology","late":false,"trade_id":"H20027982-029","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":true,"car_5":-0.006499},{"date":"2025-03-24","filed":"2025-04-23","ticker":"TBPH","issuer":"Theravance Biopharma, Inc. - Ordinary Shares","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":null,"late":false,"trade_id":"H20027982-030","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":null},{"date":"2025-03-24","filed":"2025-04-23","ticker":"UNP","issuer":"Union Pacific Corporation Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20027982-031","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.02017},{"date":"2025-03-24","filed":"2025-04-23","ticker":"SPCE","issuer":"Virgin Galactic Holdings, Inc. Common Stock","asset_type":"stock","direction":"sell","amount":[1001,15000],"owner":"self","sector":"Industrials","late":false,"trade_id":"H20027982-032","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":0.166071},{"date":"2025-03-24","filed":"2025-04-23","ticker":"V","issuer":"Visa Inc.","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":"Financials","late":false,"trade_id":"H20027982-033","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.031478},{"date":"2025-03-24","filed":"2025-04-23","ticker":"DIS","issuer":"Walt Disney Company","asset_type":"stock","direction":"sell","amount":[15001,50000],"owner":"self","sector":"Communication Services","late":false,"trade_id":"H20027982-034","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.000366},{"date":"2025-03-25","filed":"2025-04-23","ticker":"INVA","issuer":"Innoviva, Inc. - Common Stock","asset_type":"stock","direction":"sell","amount":[250001,500000],"owner":"spouse","sector":"Health Care","late":false,"trade_id":"H20027982-010","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":-0.042303},{"date":"2025-03-27","filed":"2025-04-23","ticker":"NFLX","issuer":"Netflix, Inc. - Common Stock","asset_type":"stock","direction":"sell","amount":[100001,250000],"owner":"self","sector":"Communication Services","late":false,"trade_id":"H20027982-020","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20027982.pdf","in_jurisdiction":false,"car_5":0.007079},{"date":"2025-03-27","filed":"2025-08-13","ticker":"PL","issuer":"Planet Labs PBC Class A Common Stock","asset_type":"stock","direction":"sell","amount":[50001,100000],"owner":"self","sector":"Information Technology","late":true,"trade_id":"H20030886-001","source":"house_clerk","source_url":"https://disclosures-clerk.house.gov/public_disc/ptr-pdfs/2025/20030886.pdf","in_jurisdiction":false,"car_5":-0.037479}],"tests":[{"id":"T1","reading":"open_question","evidence":"statistical","summary":"6% of 35 trades were in the lowest disclosure band ($1,001-$15,000); trades just before large company-specific moves were larger than usual.","detail":"Lowest-band share 0.057, 90% Wilson [0.019, 0.159]. Event-linked size gap Delta_z = 0.73 (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":0.057143,"ci":[0.019093,0.158746],"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":35,"lowest_band_share":0.057143,"lowest_band_ci":[0.019093,0.158746],"share_over_50k":0.714286,"max_z":1.348983,"size_gap":0.728604,"size_gap_p":1,"event_linked":2,"event_linked_outliers":0}},{"id":"T2","reading":"open_question","evidence":"statistical","summary":"34 different companies; the effective number of equally sized positions is 20 and trading spans 86% of maximum sector diversity.","detail":"Dollar HHI 0.051 (identified set [0.038, 0.089]); trade-count HHI 0.030 vs. 95th percentile 0.035 of 35 random draws from all congressional trades (p = 0.722). Normalized sector entropy 0.86 [0.42, 0.89]. Top three issuers (INVA, MSFT, PG) carry at least 13% of dollar volume.","estimate":{"label":"Effective number of issuers","value":19.705435,"ci":[11.281986,26.363024],"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":35,"issuers":34,"hhi_mid":0.050747,"hhi_bounds":[0.037932,0.088637],"n_eff":19.705435,"hhi_count":0.030204,"peer_benchmark_p95":0.035102,"peer_benchmark_p":0.722,"sector_entropy":0.856866,"sector_entropy_ci":[0.424095,0.885085],"top3_share_lower":0.134576,"top3":["INVA","MSFT","PG"],"top3_tied_to_events":true}},{"id":"T3","reading":"does_not_fit","evidence":"statistical","summary":"33% of trading days were batches of three or more companies; 0% of trades look routine; 5.7% of trades came within five trading days before a large company-specific move (chance alone: 18.8%).","detail":"Batch-day share 1/3, Wilson [0.08, 0.75]; index of dispersion 27.53 (chi-square p = 8.5e-18); routine share 0.00 (portfolio-routine or Cohen-Malloy-Pomorski two-year rule). Proximity share 0.057 vs. circular-shift null mean 0.188, p = 1.000.","estimate":{"label":"Batch-day share","value":0.333333,"ci":[0.078266,0.746466],"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":35,"trade_days":3,"batch_share_trades":0.914286,"batch_day_share":0.333333,"batch_day_ci":[0.078266,0.746466],"dispersion_index":27.533333,"dispersion_p":0,"routine_share":0,"proximity_share":0.057143,"proximity_null_mean":0.188033,"proximity_null_p95":0.514286,"proximity_p":1,"proximity_nonroutine":0.057143,"proximity_routine":0}},{"id":"T4","reading":"open_question","evidence":"statistical","summary":"Across 33 priced trades, purchases and sales moved 0.43% against the trade's direction relative to the market over the next month on average.","detail":"Mean signed CAR(1,21) = -0.0043; 90% KP interval [-0.0436, 0.0351]; t_BMP = -0.65, r-bar = 0.112, t_KP = -0.29, Patell Z = -0.58, Corrado Z = -2.43. Dollar-weighted identified set [-0.0364, -0.0016].","estimate":{"label":"Mean signed 21-day CAR","value":-0.004252,"ci":[-0.043558,0.035054],"ci_level":0.9,"unit":"return"},"power_limited":true,"screen":false,"p_value":0.611465,"p_holm":1,"q_bh":0.982752,"robust":false,"robustness":[{"variant":"Horizon 5 days","reading":"open_question","value":-0.007712},{"variant":"Horizon 63 days","reading":"open_question","value":-0.038488},{"variant":"Excluding largest batch date","reading":"not_assessed","value":-0.04386},{"variant":"Self-owned accounts only","reading":"open_question","value":-0.002295},{"variant":"Dollar-weighted (bounds)","reading":"does_not_fit","value":-0.001642}],"sources":[],"stats":{"n":33,"theta":-0.004252,"ci":[-0.043558,0.035054],"p":0.611465,"t_kp":-0.28554,"rbar":0.112346,"se_cs":0.010199,"se_kp":0.023205,"t_cs":-0.416869,"t_bmp":-0.649669,"patell_z":-0.580353,"corrado_z":-2.426032,"dollar_weighted_bounds":[-0.036367,-0.001642],"calendar_time":null,"calendar_alpha_ci":[null,null],"by_horizon":{"5":{"n":33,"theta":-0.007712,"ci":[-0.034311,0.018887],"p":0.901431,"t_kp":-1.317164,"rbar":0.112346,"se_cs":0.006902,"se_kp":0.015703,"t_cs":-1.117436,"t_bmp":-2.996846,"patell_z":-2.734163,"corrado_z":-2.372913},"21":{"n":33,"theta":-0.004252,"ci":[-0.043558,0.035054],"p":0.611465,"t_kp":-0.28554,"rbar":0.112346,"se_cs":0.010199,"se_kp":0.023205,"t_cs":-0.416869,"t_bmp":-0.649669,"patell_z":-0.580353,"corrado_z":-2.426032},"63":{"n":33,"theta":-0.038488,"ci":[-0.094964,0.017987],"p":0.800379,"t_kp":-0.854386,"rbar":0.112346,"se_cs":0.014654,"se_kp":0.033341,"t_cs":-2.626511,"t_bmp":-1.943922,"patell_z":-1.337284,"corrado_z":-1.955235}}}},{"id":"T5","reading":"open_question","evidence":"statistical","summary":"Before 1 large market moves, the member's net trading pointed the right way 1 times.","detail":"Hit rate 1.00, Clopper-Pearson 90% [0.05, 1.00]; exact one-sided p = 0.500; magnitude-weighted sign-flip p = 0.508. Episodes: benchmark days beyond three rolling standard deviations with trades in the prior five trading days, plus documented episodes when supplied.","estimate":{"label":"Hit rate","value":1,"ci":[0.05,1],"ci_level":0.9,"unit":"share"},"power_limited":false,"screen":false,"p_value":0.5,"p_holm":1,"q_bh":1,"robust":null,"robustness":[],"sources":[],"stats":{"n_episodes":1,"hits":1,"hit_rate":1,"ci":[0.05,1],"p_exact":0.5,"p_magnitude":0.5082,"episodes":[{"event_date":"2025-04-03","move":-0.049281,"dir":-1,"robust":true,"n_trades":2,"post_news_trades":0,"kind":"market"}]}},{"id":"T6","reading":"not_assessed","evidence":"statistical","summary":"Trading arrangement: not documented; trading during absence ran at nan times the normal rate.","detail":"Trading arrangement: not documented; trading during absence ran at nan times the normal rate.","estimate":null,"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"rate_ratio":null,"rate_ratio_ci":[0,null],"rate_ratio_batchdays":null,"rate_ratio_batchdays_ci":[0,null],"absence_days":0,"trades_in_absence":0}},{"id":"T7","reading":"open_question","evidence":"descriptive","summary":"1 of 35 trades (2.9%) were disclosed late; median lag 30 days.","detail":"Late share 0.029, Wilson [0.006, 0.118]; 90th percentile lag 30 days; longest 139 days.","estimate":{"label":"Late share","value":0.028571,"ci":[0.0064,0.118397],"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":35,"amendment_rows_excluded":0,"late":1,"late_from_trade":1,"excused_by_notification":0,"late_share":0.028571,"late_ci":[0.0064,0.118397],"median_lag":30,"p90_lag":30,"max_lag":139,"filings":2,"late_filings":1,"late_priced":1,"timely_priced":32,"late_priced_dates":1}},{"id":"T8","reading":"does_not_fit","evidence":"descriptive","summary":"7% of the member's mapped trading by dollar value was in industries their committees oversee, against 11% for a comparable benchmark.","detail":"Committees HSAS, HSSY; jurisdiction sectors Aerospace & Defense, Biotechnology, Semiconductor Materials & Equipment, Semiconductors. Dollar share 0.070 (identified set [0.033, 0.143], bootstrap 0.000-0.090); benchmarks S&P 500 0.081, congressional peers 0.109.","estimate":{"label":"Jurisdiction excess share","value":-0.038526,"ci":[-0.108566,-0.018126],"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":32,"in_jurisdiction_trades":4,"share":0.07004,"share_bounds":[0.032804,0.143382],"share_ci":[0,0.090441],"benchmark_sp500":0.081188,"benchmark_peers":0.108566,"excess":-0.038526,"excess_ci":[-0.108566,-0.018126],"committees":["HSAS","HSSY"],"jurisdiction_sectors":["Aerospace & Defense","Biotechnology","Semiconductor Materials & Equipment","Semiconductors"],"regression_error":"Error evaluating factor: TypeError: 'module' object is not callable\n    y ~ J + C(sector) + C(month)\n            ^^^^^^^^^","gamma1":null,"gamma1_ci":[null,null],"gamma1_p":null}},{"id":"T9","reading":"not_assessed","evidence":"descriptive","summary":"4 priced trades fell in affected industries in the 30 days before the member's committee events and 29 did not; at least 10 of each are needed to compare them.","detail":"4 priced trades fell in affected industries in the 30 days before the member's committee events and 29 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":4,"n_other":29,"events":987}},{"id":"T10","reading":"not_assessed","evidence":"descriptive","summary":"No documented scrutiny date; the estimated change point in trading activity is shown for reference.","detail":"No documented scrutiny date; the estimated change point in trading activity is shown for reference. Estimated change point None (permutation p = 1.000).","estimate":null,"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"changepoint":null,"changepoint_LR":null,"changepoint_p":1,"tradeday_rate_before":null,"tradeday_rate_after":null}},{"id":"T11","reading":"does_not_fit","evidence":"statistical","summary":"After adjusting for noise, the member's trades rank at the 42% percentile of 134 members (shrunk estimate -0.28% per trade over a month).","detail":"Empirical Bayes: raw -0.0043, 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":-0.004252,"posterior_mean":-0.002769,"posterior_sd":0.001522,"congress_mean":-0.002769,"tau2":0,"percentile":0.41791,"members_compared":134,"lower95":-0.005752}},{"id":"T12","reading":"open_question","evidence":"statistical","summary":"21 trades were followed within two weeks by a large company-specific move; 16 were on the profitable side.","detail":"Hit rate 0.76, Clopper-Pearson [0.56, 0.90], exact one-sided p = 0.013; threshold |AR| > 3 sigma.","estimate":{"label":"Hit rate","value":0.761905,"ci":[0.563024,0.901156],"ci_level":0.9,"unit":"share"},"power_limited":false,"screen":true,"p_value":0.013302,"p_holm":0.079811,"q_bh":0.642108,"robust":null,"robustness":[],"sources":[],"stats":{"n":21,"hits":16,"hit_rate":0.761905,"ci":[0.563024,0.901156],"priced":33,"share_followed":0.636364}},{"id":"T13","reading":"does_not_fit","evidence":"statistical","summary":"34% of trades had another member trading the same stock the same way within a week (chance alone: 40%).","detail":"Co-traded share 0.343; circular-shift null mean 0.399, 95th pct 0.429, p = 1.000. Co-traded signed CAR -0.0063, p = 0.561.","estimate":{"label":"Co-traded share","value":0.342857,"ci":null,"ci_level":null,"unit":"share"},"power_limited":false,"screen":false,"p_value":0.561488,"p_holm":1,"q_bh":0.902015,"robust":true,"robustness":[{"variant":"Without M001157, the member with the most trades, in the co-trade index","value":0.342857,"reading":"does_not_fit"}],"sources":[],"stats":{"n":35,"cotraded_share":0.342857,"null_mean":0.399423,"null_p95":0.428571,"excess_p":1,"cotraded_share_wo_top":0.342857,"excess_p_wo_top":1,"cotraded_car":-0.006286,"cotraded_car_ci":[-0.061428,0.048855],"cotraded_car_p":0.561488}},{"id":"T14","reading":"not_assessed","evidence":"descriptive","summary":"3% of trades were in a spouse's or dependent's name; returns not computed for them.","detail":"3% of trades were in a spouse's or dependent's name; returns not computed for them.","estimate":null,"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"family_trades":1,"family_share":0.028571,"owner_unknown":0}},{"id":"T15","reading":"does_not_fit","evidence":"descriptive","summary":"No purchase and sale of the same stock within six months.","detail":"No purchase and sale of the same stock within six months.","estimate":null,"power_limited":false,"screen":false,"p_value":null,"p_holm":null,"q_bh":null,"robust":null,"robustness":[],"sources":[],"stats":{"round_trips":0,"share_in_round_trips":0}},{"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}}],"episodes":[{"title":"Market move on 2025-04-03","event_date":"2025-04-03","direction":"sell","move_pct":-4.93,"trade":"2 trade(s) in the prior five trading days","verdict":"Right way","event":"S&P 500 (SPY) daily move","source_url":null}]}