Market Commentary

Congressman Earl Blumenauer Is Ramping up Exposure to These Two Stocks

Rahul Joshua7 Sept 2022 · 1 minute read

Congressman Earl Blumenauer made six trades in August, according to filings published yesterday. The U.S. representative for Oregon's 3rd congressional district disclosed he purchased four and sold two stocks last month.

As far as bigger trades are concerned, Blumenauer disclosed he invested between $15,000 and $50,000 in corporate bonds of Deere & Company (DE: US) on August 11, as he looks to capitalize on the company’s “safety” status. Despite a large selloff in equities this year, Deere is one of the very few stocks that hit all-time highs.

Another trade of similar size was made in The Allstate Corporation (ALL: US) on August 09. Both trades were made in the name of Blumenauer’s spouse.

In addition to the above, the Congressman also bought shares of Carrier Global Corp (CARR: US) and Northwest Natural (NWN: US), while selling shares of Intel (INTC: US).

Shares of the chipmaker are under intense selling pressure after the company issued soft guidance while its competitor, Advanced Micro Devices (AMD: US) continues to capture its market share.

Trading of US Treasury Notes isn’t surprising as well given that they are the most traded asset class for Rep. Blumenauer. Back in April, he unveiled an investment valued between $50,000 and $100,000 in US Treasury Notes on three different occasions on March 09.

Going through his trading patterns, both Northwest Natural and Intel are among his favorite stocks to trade. 

Hence, it is safe to assume Blumenauer favors sectors like IT, Financials, and Healthcare. The Representative sits in the House Committee on Ways and Means, which is the oldest committee of the United States Congress and is also known as the chief tax-writing committee in the House.