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Adam Smith

DEMOCRATREPRESENTATIVEWA-09SINCE JAN 1997

AAPL MSFT UPS WY RSG TSLA PG GOOGL+4 more

BUYS

0

SELLS

16

TRADES

16

COMPANIES

16

EST. VOLUME

$128K

MEDIAN LAG

3d

COMMITTEE ASSIGNMENTS1

House Committee on Armed ServicesRANKING MEMBER

The House Committee on Armed Services has legislative jurisdiction over military and defense.

OVERSEESIndustrials

Committee ↔ trade overlap

CONFLICT LENS

25%

of disclosed trade value sits in sectors Adam Smith's committees directly oversee.

4 trades1 oversight sectors

Armed Services

25% of value

Industrials

Vs. their party

DEMOCRAT MEDIAN

Trades / year

YOU 16·PEER 7

▲2.1× more active

Oversight-sector mix

YOU 25%·PEER 42%

▼-17 pts

Median disclosure lag

YOU 3d·PEER 24d

▲21d faster

Est. excess vs SPY 90d

YOU +0.2%·PEER +0.4%

▼-0.2 pts

Sector mix · by value

OVERSIGHT ●

Industrials

25%

Information Technology

18.8%

Consumer Staples

12.5%

Consumer Discretionary

12.5%

Financials

6.3%

Communication Services

6.3%

Real Estate

6.3%

Materials

6.3%

Utilities

6.3%

Where the edge comes from

OVERSIGHT vs REST · 90D

Oversight-sector trades

-10.7%mean excess

WIN 75%4 trades

Everything else

+3.9%mean excess

WIN 42%12 trades

Trades inside an oversight lane returned -14.6 pts less vs SPY than trades outside it.

Most-traded companies

BY TRADE COUNT

1 S

1 S

1 S

1 S

1 S

1 S

STOCK ACT DISCLOSURES · AMOUNTS REPORTED AS RANGES · ESTIMATES USE RANGE MIDPOINTS · OVERSIGHT MAPPING IS A HEURISTIC

Adam Smith

The morning brief, before the bell.