This week in power × markets

the briefing · 2026-10-04

Big Tech remains Congress's favorite trade — and in Microsoft's case, members are buying and selling a company that is simultaneously collecting federal contracts and sitting in the path of executive action.

• $MSFT leads the convergence list: 24-25 members traded it year to date (35 buys / 29 sells) with 12 committee-sector overlaps, while the same ticker drew both Executive Action and Federal Contract signals — the single largest pile-up of congressional activity and policy exposure in the data. $AAPL edges it on filers (27 members, 23b/28s, 10 committee-sector overlaps) and $NVDA runs third (19 members, 16b/27s, a notably sell-heavy 3 overlaps).
• The IT-services cluster is quietly interesting: $CTSH (4 members), $EPAM (2) and $INFY (1) all traded against an Executive Action signal, with $ACN separately drawing 12 members (9b/13s, 4 committee-sector overlaps) — four names whose common thread is visa- and outsourcing-sensitive policy.
• Two filings stand out at the top of the range: Nancy Pelosi disclosed a SELL of $AAPL at $5M–$25M, and Chip Roy disclosed a BUY of $AESI at $5M–$25M. $COIN, meanwhile, saw 4 members trade amid 8-K, CFTC and SEC signals, and $CME drew 4 members alongside a CFTC signal.
• Insider selling ran heavy on October 2: ~$135.7M of $CRWD sold across 22 transactions including CEO George Kurtz and President Michael Sentonas, ~$45.2M of $STX (CEO William Mosley among 58 sales), and ~$42.6M of $SNOW — a ticker 2 members of Congress also traded. On the other side, Ryan Cohen bought ~$34.2M of $GME.

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