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Marjorie Taylor Greene Loads Up Her Portfolio With Apple, AMD And These Defensive Securities Amid Market's Record Run

Published 22/05/2024, 10:01
© Reuters Marjorie Taylor Greene Loads Up Her Portfolio With Apple, AMD And These Defensive Securities Amid Market's Record Run

Benzinga - by Shanthi Rexaline, Benzinga Editor.

Congresswoman Marjorie Taylor Greene (R-Ga.), who resumed stock transactions after a two-year hiatus earlier this month, has added more shared to her portfolio, disclosures made on Tuesday showed.

What Happened: Green disclosed a series of transactions involving stocks, and T-bills, and all were purchases made between Monday and Tuesday.

Securities bought by the representative and the value of the purchases are as follows:

Company Value Range
Advanced Micro Devices, Inc. (NASDAQ:AMD) $1,001-$15,000
Apple, Inc. (NASDAQ:AAPL) $1,001-$15,000
Caterpillar, Inc. (NYSE:CAT) $1,001-$15,000
Charles Schwab Corporation (NYSE:SCHW) $1,001-$15,000
Kinder Morgan, Inc. (NYSE:KMI) $1,001-$15,000
Southern Company (NYSE:SO) $1,001-$15,000
US Treasury Bill maturing June 18 $100,001-$250,000
US Treasury Bill maturing Aug. 13 $100,001-$250,000
US Treasury Bill maturing Nov. 29 $100,001-$250,000

After disclosing a slew of transactions on May 3, comprising an assortment of stocks, exchange-traded fund, index funds and Treasury bills, Greene bought treasury bills worth $250,001- $500,000 on May 9.

Why It’s Important: The “Stock Trading on Congressional Knowledge Act” mandates U.S. lawmakers to publicly disclose financial transactions within 45 days of occurrence, typically within a value range.

Greene’s leaning toward stocks comes at a time the stock market is trading at record high levels. The S&P 500 closed at a record high of 5,321.41 on Tuesday, with rate-cut hopes keeping sentiment upbeat. As recently as this week, Morgan Stanley’s Matt Wilson, one of the bearish analysts on the Street, shifted his bias to bullishness and raised his 12-month S&P 500 target by 20% to 5,400.

The congresswoman’s stock picks come from an assortment of sectors, including technology, financial services, energy infrastructure and utility sectors. Apple incidentally has lagged the broader market, with analysts pinning their hopes on the launch of the AI-enabled iPhone 16 to do the trick for the company. AMD, meanwhile, is playing a catchup to AI frontrunner Nvidia and is believed to have a strong run ahead.

Utilities are defensive stocks and their fortunes are only very loosely tied to the economic cycle. Green has also invested in short-term risk-free government treasury bills.

The GOP representative is an outspoken member and is very vocal about the issues she is very passionate about. She is part of the conservative wing of the Republican party which is strongly opposed to funding the war in Ukraine.

The SPDR S&P 500 ETF Trust (NYSE:SPY), an exchange-traded fund that tracks the performance of the S&P 500 Index, added 0.25% on Tuesday before closing at $531.36, according to data from Benzinga Pro. The ETF has gained over 12% this year.

Read Next: Fiery Exchange with Marjorie Taylor Greene Prompts Jasmine Crockett to Launch ‘Clapback’ T-Shirt Collection

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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