Capitol Trades 2024 in Review - Markets, Politics & Breakthroughs

As 2024 comes to an end, it’s clear that this year will go down in history as one of profound change, rapid innovation, and intense challenges. From the rise of artificial intelligence (AI) and the electric vehicle (EV) revolution to a political landscape shaped by fierce debates and global power struggles, this was a year that tested resilience, sparked new possibilities, and opened doors to an uncertain future.

In technology, 2024 marked AI’s arrival on a transformative scale. Tools like OpenAI’s GPT-5 and advancements in machine learning reshaped industries from healthcare to entertainment, while quantum computing made strides in cryptography and material science. The EV sector also surged, driven by government incentives and environmental priorities, achieving milestones in the shift toward cleaner transportation.

The financial sector experienced both recovery and caution. A tech-driven stock market rebound contrasted with rising interest rates and inflation, challenging consumers and investors alike. Cryptocurrencies stabilized under clearer regulations, and new laws like FIT21 hinted at a structured role for digital assets in the economy.

Politically, the year was tumultuous. Donald Trump’s return to the presidential stage highlighted deep national divides, while U.S.-China tensions intensified with trade disputes, cyberattacks, and military posturing dominating global affairs. National security and international volatility shaped domestic policies.

As we reflect on 2024, it’s clear that this was a year that fundamentally reshaped industries, politics, and the way we think about the future. While the challenges were steep, the innovations were groundbreaking, and the lessons learned will echo for years to come.

Annual Stats of Trading on Capitol Hill

Despite a turbulent start to the year in financial markets, Capitol Hill investors demonstrated significant trading activity last year, with an impressive 9,942 stock trades reported. This included 5,139 investment trades and 4,767 sell trades, underscoring an active and dynamic year for political investors. 

Among the most favored companies, Apple Inc., the global leader in market capitalization, stood out as the top choice for congressional traders. The tech giant garnered unparalleled confidence from Capitol Hill investors followed by Microsoft and JPMorgan Chase & Co., a financial sector powerhouse. However, Microsoft also topped the sell-off list, with lawmakers trimming positions due to profit-taking or growth concerns. Alphabet Inc. ranked second in sales activity, and Apple placed third.

From a sector perspective, Software emerged as the frontrunner, driven by advancements in AI and global economic shifts. This sector attracted the highest trading volume, underscoring its dominance in investor strategies. Semiconductors & Semiconductor Equipment followed, driven by stellar performance, with the Banking sector rounding out the top three.

However, despite strong performance, the Semiconductors and Software sectors saw significant sell-offs as investors locked in gains, while the Banking sector recorded notable divestments amid market uncertainties. 

This mix of strategic investments and cautious profit-taking defined last year’s trading patterns on Capitol Hill.

Exceptional Trading Activity on Capitol Hill

Capitol Hill investors made headlines this year with extraordinary trading activity that delivered impressive results. While many politicians disclosed their trading activity, only a select few stood out, claiming top spots for their stellar performance.

Top Performers in Profitable Trades

• Senator Tommy Tuberville emerged as the most profitable trader of 2024, achieving a 179% return on a $250,000 investment in Federal Home Loan Mortgage Corp (FMCC:US) on March 12. His strategic foresight secured his place at the top.

• Senator Markwayne Mullin followed closely with a $50,000 investment in NVIDIA Corp (NVDA:US) on January 27, which soared by 178% amid the tech giant’s explosive growth.

• Congressman Michael McCaul claimed third place, earning a 152% gain from a $15,000 investment in GE Vernova Inc. (GEV:US), a leader in electric services, on April 16.

Top Performers in Timely Divestments

• Congressman Michael McCaul also excelled on the sell side, avoiding a 58% loss by divesting $65,000 from Intel Corp (INTC:US) on January 19.

• Similarly, Congressman Josh Gottheimer avoided significant losses by selling $15,000 worth of Moderna Inc. (MRNA:US) shares on March 8, shielding himself from a 58% decline.

• Rounding out the list, Congressman Michael Burgess demonstrated prudence by selling up to $15,000 in Walgreens Boots Alliance Inc. (BA:US) shares on March 1, just before a 56% plunge.

These strategic moves reflect the lawmakers’ ability to navigate a volatile market, showcasing exceptional trading acumen.

Top Conflicting Political Trades in Defense Stocks

The year 2024 was marked by escalating global tensions, including the Russia-Ukraine war, U.S.-China conflicts, and unrest in the Middle East. Amid these challenges, the defense sector thrived, driven by substantial government and private contracts. Adding intrigue were defense-related trades by lawmakers, some with key committee roles, whose timing and returns stood out.

Senator Markwayne Mullin

Senator Markwayne Mullin executed the year’s most notable defense trade. On January 27, 2024, he invested $15,000 in Axon Enterprise Inc. (AXON:US), a defense technology firm. The stock has since surged by 142%, with Mullin still holding his stake. As a member of the Senate Armed Services Committee and its Subcommittees on Airland, Emerging Threats, and Readiness, his strategic role in defense policy adds a unique dimension to this high-performing investment.

Senator Tommy Tuberville

Senator Tommy Tuberville, also on the Senate Armed Services Committee, invested up to $15,000 in Rolls-Royce Holdings PLC (RYCEY:US) on April 15, 2024. The aerospace giant’s stock has grown by 33%. With assignments on the Strategic Forces, Seapower, and Readiness Subcommittees, Tuberville’s trade highlights the interplay between his policymaking responsibilities and defense investments.

Representative Michael McCaul

Representative Michael McCaul made a significant trade on October 14, 2024, investing approximately $100,000 in Howmet Aerospace Inc. (HWM:US), a leader in advanced aerospace manufacturing. The stock has since risen by 14.96%. McCaul’s roles on the House Committees on Homeland Security and Foreign Affairs align with the defense sector’s growth and underscore the strategic nature of his investment.

Top Conflicting Political Trades in Insurance Stocks

The U.S. insurance sector faced a challenging 2024, shaped by devastating natural disasters and escalating cyber threats. Hurricanes Ian and Ophelia resulted in over $100 billion in insured losses, making it one of the most costly years for property and casualty insurers. At the same time, a surge in ransomware attacks, including a major healthcare breach, fueled a 30% rise in demand for cyber liability coverage.

Adding to the turbulence, the Affordable Insurance Act 2024 introduced stricter compliance requirements and enhanced consumer protections. Meanwhile, political trades involving insurers like Cigna, UnitedHealth Group, and CVS Health raised concerns as lawmakers appeared to leverage early insights into regulatory changes and disaster relief funding.

Representative Josh Gottheimer

Despite no committee assignments, Rep. Josh Gottheimer executed 2024’s top-performing trade in the insurance sector. On February 16, he invested up to $15,000 in Ping An Insurance Group Co. (PNGAY:US), earning a 42% return. His financial acumen continues to distinguish him among Capitol Hill traders.

Representative Michael McCaul

Rep. Michael McCaul followed with a January 10 investment of up to $15,000 in Aon PLC (AON:US), yielding a 32% return. Known for his active trading, McCaul remains a standout in Congress.

Senator Tommy Tuberville

Sen. Tommy Tuberville, serving on key Senate committees, added to his portfolio with a $15,000 investment in Brown & Brown Inc. (BRO:US) on May 15, earning a 20% gain. Tuberville’s well-timed investments across sectors keep him in the spotlight.

Top Conflicting Political Trades in AI & Semiconductor Stocks

In 2024, the U.S. semiconductor and AI sectors thrived, fueled by groundbreaking innovations and robust policy support. The semiconductor industry benefited from the CHIPS Act, with projects like TSMC’s Arizona plant boosting domestic production. Simultaneously, export restrictions on advanced chips to China underscored the sector’s strategic importance.

AI advancements were equally transformative, driven by technologies like OpenAI’s GPT-5 and NVIDIA’s cutting-edge AI chips, which spurred unprecedented demand. Together, these sectors cemented their pivotal role in the U.S. economy as government initiatives and corporate innovations worked to sustain global tech leadership.

This growth also saw notable political trades, reflecting the sectors’ increasing influence.

Senator Markwayne Mullin

A member of the Senate Committee on Armed Services, Mullin made the year’s most remarkable AI-related trade. On January 2, 2024, he invested up to $50,000 in NVIDIA Crop (NVDA:US), which surged over 178%. His strategic trade underscores his expertise in defense and technology policy.

Representative Michael McCaul

McCaul continued to make waves with a $50,000 investment in Taiwan Semiconductor Manufacturing Co (TSMC:US) on February 23, 2024. The stock soared by 94%, reinforcing his reputation as one of Congress’s savviest investors.

Congressman Michael Guest

Guest, representing Mississippi’s 3rd District, made a timely investment in NVIDIA Corp (NVDA:US) on February 20, 2024. His $15,000 stake has since grown by 93%, showcasing his sharp instincts in the fast-moving AI sector.