Apple Inc. (AAPL) Stock Held By 48 Members Of Congress

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Apple Inc. (AAPL) Stock Held By 48 Members Of Congress
ElisaRiva / Pixabay

Apple Inc. (NASDAQ:AAPL) stock has rallied an impressive 52% in the last 12 months. That must have made many of the U.S. Congressmen happy. According to data compiled by the Berkeley, California-based nonpartisan research group MapLight, as many as 48 members of Congress (or their spouses) hold stakes in Apple.

Apple fifth most popular stock among Congressmen

MapLight obtained the data from the ‘personal financial disclosures’ (PFDs) that members of Congress are required to file every year, disclosing their sources of income and various assets. Legislatures have to disclose only minimum and maximum values of their assets, rather than providing the exact figures.

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Apple Holders

The biggest investor in Apple Inc. (NASDAQ:AAPL) was Rep. Nancy Pelosi’s (D- Calif.) husband, Paul Pelosi. Mr Pelosi owns Apple shares worth between $1 million and $5 million. He was followed by Rep. James Renacci (R-Ohio) with Apple shares worth between $300,000 and $750,000. Sen. Heidi Heitkamp (D-N.D.) occupied the third spot with Apple stock worth between $250,000 and $500,000.

Apple is the fifth most popular stock among Congressmen, according to MapLight. General Electric Company (NYSE:GE) topped the list with 69 members of Congress holding shares, following by Microsoft Corporation (NASDAQ:MSFT). Surprisingly, Google Inc (NASDAQ:GOOGL) (NASDAQ:GOOG) couldn’t make it to the top 15. The search engine giant was ranked 25th with only 29 members of Congress (or their spouses) holding its shares.

Apple

Does this lead to a conflict of interest?

NBC News notes that most of the Congressmen aren’t new to Capitol Hill. So chances are their investments are at least two decades old. General Electric, Apple, Procter & Gamble, and Microsoft fall into that category. However, a big question is whether their ownership of these stocks creates a conflict of interest?

Do our Congress members fight for these juggernauts to improve their investment returns? Over the last decade, many large tech companies were almost untouched. But Google at No.25 witnessed so many security probes.

Apple Inc. (NASDAQ:AAPL) shares inched up 0.58% to $114.84 at 10:38 AM EST on Monday.

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8 COMMENTS

  1. None whatsoever. I’m saying that when AAPL is accused of something they are buying on the dips of fear. And when I say every Govt. employee I include all govt. jobs. Police, teachers, sanitation etc……. it’s in every retirement account of every individual working for any and all agencies at every level. Even the janitors.
    Only thing that defies logic is the case of Judge Lucy Koh. I guess her payday from graft is more lucrative than her AAPL holdings. But she too will play the shorts.

  2. Do you think with the holders list mentioned in this very article, ANY allegations brought against Apple stand a chance, even if Tim Cook is photographed with a smoking gun?

  3. I’m not a C.F.O. and won’t comment; except to say AAPL has a good one!
    Maximize Profit, increase shareholder value, reduce corporate taxes, manage expenses and investments etc…. Very tough job when managing a company larger than the Russian Stock Market.
    In the interim; no allegations have been proven true; to my point of trying to make money by shorting the stock; and then buying it back on the cheap; based on government intervention in private business.

  4. Well, we now have a list of politicians who are wealthy enough to own Apple Stock. Be sure to cross these individuals off your list of people who “need” campaign contributions.

    Look at it this way- Apple has a lot of problems- They have setup their organization in a way to subvert paying US taxes, were investigated and found guilty for Anti-Trust, they are also in a class-action lawsuit filed by its own employees in California for overtime and wages. Also, Apple has it’s own Hedge Fund so it can amplify and control investments through the movement of money in the market. Apple isn’t really a technology firm, they operate more like a Bank. Sometimes there isn’t enough management at a company to provide oversight. Apple shouldn’t be cutting corners this way.

  5. Just imagine the insider trading that goes on from Obama down. When they create issues to drive down the stock; like net neutrality, corporate taxes, access to personal information, access to the Health APP; which is none of their business and the FTC should stay out of….. I guarantee they make money on shorting it and then buying on the intent.

  6. This refers to individual holdings. As the most valuable company in the world; and the one that is most broadly held by Hedge Funds and Mutual Funds; it is actually owned by ever member of Government on every level, because it is in their retirement accounts; and probably the most valuable holding

Comments are closed.