United States Representative Jefferson Shreve has offloaded nearly all his stock holdings in a month.
This development follows public criticism against the lawmaker sparked by a wave of high-value trades executed shortly after President Donald Trump’s “Liberation Day” tariff announcement.
At the time, a section of the political class came under fire for allegedly profiting from a stock rally triggered by the pause of the April 2 trade tariffs. Some observers accused politicians such as Shreve of capitalizing on insider information to execute well-timed Congress trades.
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According to filings, Shreve sold approximately 250 individual stock positions tied to one of his charitable remainder trusts.
The divested assets include some of the market’s biggest names, including Apple, Microsoft, Nvidia, and Abbott Laboratories.
Notably, the sales of Apple and Microsoft shares reached $1 million, while Amazon sales were valued at $250,001 and $500,000.
Shreve’s defense
In response to the developments, a spokesperson for Shreve said the congressman had instructed his trust’s asset manager to divest the holdings “for the sake of transparency.” The statement also emphasized that Shreve has never traded personally held stocks while in office.
“The Congressman wants to be transparent and clear that the trust assets will go to charity. <…> The transactions made by the trust are to the benefit of the trust — and not him personally,” the spokesperson said.
Shreve’s stock dealings were thrust into the spotlight earlier this year when investigative outlet NOTUS reported that trades associated with his trusts amounted to between $3.44 million and $9.45 million shortly after the tariff policy news broke.
However, the congressman insists the transactions originated from two charitable remainder trusts he and his wife established in 2022.
The trusts are valued between $10 million and $50 million, and Shreve receives about 5% annually from one of the trusts, while the remainder is designated for charitable giving.
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