About the data

Public filings, made readable.

WhoTraded collects the stock trades that members of Congress and corporate insiders are legally required to disclose, links every one back to its source, and shows how long each took to report.

We are an independent publication. Every congressional trade is free to read, with no account, because these reports are public records meant for the public. Pro subscribers pay for our tools: alerts, follows, exports and insider analytics.

Sources

House Clerk

Periodic transaction reports filed by representatives.

Due within 45 days of the trade

Open source site

Senate eFD

Periodic transaction reports filed by senators.

Due within 45 days of the trade

Open source site

SEC EDGAR

Form 4 filings by officers, directors and 10% owners.

Due within 2 business days

Open source site

Methodology

Amounts are ranges, and totals are estimates: Members of Congress report each trade in a bracket, for example $250K to $500K. We show the bracket as filed. Wherever we add trades together (dollars disclosed, buy share, estimated volume) we use the midpoint of each bracket, so those totals are estimates. Form 4 filings report exact values.
The 45-day rule and the LATE badge: The STOCK Act gives members 45 days from a trade to report it. We measure days to file as the filing date minus the trade date and mark anything over 45 days as LATE. For Form 4 the deadline is two business days.
Buy share: The share of disclosed dollars in a stock, over a stated window, that were purchases rather than sales. It describes what was disclosed. It is not a forecast.
Trades near committee activity: We flag a trade when the member sits on a committee, the stock is tied to a scheduled markup or hearing of that committee, and the trade happened in the 14 days before it. A flag is a fact about timing, not an accusation.
Estimated returns: Returns are modelled from disclosed trades at the midpoint of each range and compared with SPY, an S&P 500 index fund, over the same period. Real portfolios will differ.

How we score unusual activity

A flag means a trade differs from this person's usual pattern. It is not evidence of wrongdoing. The score runs from 0 to 100 and is the sum of the points below, capped at 100. Only trades a person chose to make at the market price are scored. Stock awards, option exercises, shares withheld for tax and gifts are routine and ignored.

Reason	Rule	Points
Not part of a pre-scheduled plan	Insiders can schedule trades months ahead (a 10b5-1 plan). The filing says this trade was not one of those.	12
Bought with their own money	Shares bought at the market price, not a stock award or an option.	15
First in years	No open-market trade in the same direction for two years or more, or none on record.	up to 22
Change of direction	At least 70% of their last eight trades went the other way.	15
Size against holdings	The trade is 10% or more of the position held before it (25% or more scores higher).	10 or 16
Several insiders together	Three or more insiders at one company bought within 10 days.	15
Reported late	A company insider reported after the deadline of two business days.	8
Before a major announcement	Traded in the 30 days before the company filed a major announcement with regulators (a form called an 8-K).	14
Insider and Congress	An insider and a member of Congress traded the same stock within 21 days.	12
Committee timing	A member traded a company tied to an event of their own committee, in the 14 days before it.	20
Before a contract award	Traded in the 30 days before a federal contract award to the company.	16

Not investment advice

WhoTraded reports public disclosures for transparency and research. By the time a trade is disclosed it may be weeks old. Nothing here is a recommendation to buy or sell a security.