A senior Homeland Security official invested in an ETF mirroring Democratic lawmakers’ stock trades, marking a rare move by a government official.
A top Department of Homeland Security official under President Trump invested between $15,000 and $50,000 in an ETF tracking Democratic lawmakers’ stock trades. Pedro Allende, Under Secretary for Science and Technology, purchased shares of the NANC fund, which replicates portfolios of congressional Democrats.
The trade is the first known instance of a high-ranking government official investing in such a fund. Allende, a longtime Republican, also bought shares in standard ETFs like the Vanguard S&P 500 and Invesco QQQ Trust tracking the Nasdaq-100 on the same day. The NANC fund’s co-portfolio manager called the move a validation of the product’s strategy.
The disclosure, filed with the U.S. Office of Government Ethics, was first reported by a news outlet. The fund markets itself as a way to “invest like the oligarchy,” reflecting confidence in lawmakers’ market insights.