Representative Marjorie Taylor Greene, serving Georgia's 14th congressional district, is also a member of the Oversight and Reform Committee and the Homeland Security Committee. She is known for making several profitable investments over the years.
According to data from Quiver Quantitative, Greene's estimated net worth is $22.15 million, and she maintains a diversified portfolio of tech companies, consumer discretionary stocks, and energy firms. The alternative data platform also details that on June 24, she purchased shares of ASML, Costco Wholesale, CrowdStrike, Lululemon Athletica, and NextEra Energy. All trades were between $1,001 and $15,000 in value.
Focus on AI Stocks Across Industries
Greene purchased shares of equipment maker ASML and cybersecurity giant CrowdStrike, both of which have significant AI exposure.
ASML builds equipment that chipmakers use to manufacture microchips. Company shares rallied last month after Taiwan Semiconductor Manufacturing Company said it would expedite the purchase of ASML's extreme ultraviolet lithography (EUV) machine.
Meanwhile, cloud-based security solutions provider CrowdStrike posted a record 33% year-over-year (YoY) annual recurring revenue growth to $3.65 billion for the April-ended quarter. The firm uses AI to enhance threat detection accuracy and enterprise risk remediation measures. The company continues to innovate rapidly. This week, it announced the rollout of its Falcon Complete Next-Gen MDR, which incorporates third-party data and AI capabilities to stop data breaches quickly across the entire enterprise attack surface. Company management maintains a revenue guidance of up to $961.2 million for Q2.
Interest in Apparel and Retail
According to the latest filings, Greene also purchased stocks of athletic apparel manufacturer Lululemon Athletica and retailer Costo Wholesale.
Achieving long-standing profitability as a consumer discretionary stock is challenging, especially in the fashion sector. Still, Lululemon continues to witness high demand despite rising living costs due to incredible marketing and premium quality products. Amid dynamic consumer preferences, Lululemon's management maintains the brand's relevance and high operating margins through innovation and cost-effective processes. The company is already ahead of its "Power of Three ×2" growth plan strategy to double net revenue to $12.5 billion by 2026 from $6.25 billion in 2021.
Soon after Greene bought Costco shares, the company posted that June sales jumped 7.4% YoY to $24.28 billion, while net sales also increased by 6.9% YoY for the first 44 weeks to $210.55 billion. Board members declared a quarterly dividend payout of $1.16 per share, payable on August 9. Starting September 1, Costco plans to hike annual membership fees by $5 for the US and Canada Gold Star, Business, and Business add-on members. Meanwhile, annual fees for Executive Memberships will increase to $130. The fee changes will affect almost 52 million memberships.
Piling Into Renewable Energy
Greene has bought NextEra Energy several times since 2021, with the latest purchase in June. The company announced strong first-quarter results with net income on a GAAP basis of $2.26 billion. The company placed 1,640 megawatts of new solar products in service and recorded 2,765 megawatts of new renewables and storage origination during the quarter.
The company has achieved compound annual growth rates (CAGR) of around 9% in the last two decades. It has also handsomely rewarded shareholders by hiking its dividend payouts at a 10% CAGR over the same duration.
Is It Wise To Follow Congressional Trades?
Investors are increasingly interested in tracking and copying Congress members' trades, as several often outperform the market with high returns. Former House Speaker Nancy Pelosi, Representative Dan Meuser, and Senator Sheldon Whitehouse have all made triple-digit returns from stock trading over the past decade.
However, it is important to note that Congress members can report trading activities within 45 days of execution under the 2012 STOCK Act. Hence, the trade completion date isn't known until much later.
Risks of trade bans continue to loom for Congress members as they consistently face criticism over insider trading. A fiduciary financial adviser can reduce the risks if you plan to copy Congressional trades, which often include overvalued stocks.
Disclaimer: Our digital media content is for informational purposes only and not investment advice. Please conduct your own analysis or seek professional advice before investing. Remember, investments are subject to market risks and past performance doesn't indicate future returns.
