Connecticut Lawmakers' Financial Holdings Revealed in New Analysis
The Connecticut state government has lax laws governing financial disclosures for its legislators. This means they can report their stock holdings in broad terms, making it difficult to determine their exact investments.
Unlike federal politicians, who must disclose individual trades and the value of their assets, state lawmakers only need to report stocks valued over $5,000. This exemption allows them to obscure large amounts of trading activity, with one legislator alone owning over 100 stocks in a retirement account worth more than $3 million.
CT Insider analyzed over 190 filings from state and federal legislators to identify the most-owned stocks by Connecticut lawmakers. Apple was the top-held stock, followed closely by Microsoft, Nvidia, Amazon, Google, and JPMorganChase. These companies are all major players in the tech industry, which has experienced significant growth in recent years.
The analysis also showed that a handful of lawmakers likely made big gains off AI-related stocks like Intel and Micron, which surged by more than 900% since last January. However, other stocks picked by politicians did poorly, with Tonix Holdings losing nearly 68% of its worth and Trade Desk shedding nearly 90%.
The filings also revealed that federal lawmakers appear less inclined to buy and trade individual stocks compared to their state counterparts. No Senator or Congressmember bought or sold individual stocks, although U.S. Senator Richard Blumenthal (D) disclosed scores of stockholdings in the custody of his wife.