2020:Q1 - A. Lowenthal (D-CA-47) Dossier Excerpt
Note: This is an excerpt of our Analytic Dossier of Rep. Lowenthal.
The full dossier is available to our subscribers.
Representative Alan Lowenthal was first elected to Congress in 2012. His district centers on Long Beach, CA. As of 2018, Roll Call estimated his net worth to be approximately $800,000.
Rep. Lowenthal and his wife are active investors, averaging over 100 annual trades in recent years, although it is unclear to what degree those trades are self-directed or managed by an advisor. Their trades are notable both for their frequency, when compared other members of Congress, and their size relative to net worth. The Lowenthals' portfolio displays a higher concentration of positions in relatively fewer securities than the more-diversified and mutual-fund or index-driven approach that investors frequently use.
In recent months, the Lowenthals executed a pivot in their investment strategy and began buying securities that would increase in value in the event of a general stock market decline. From October 2019 through March 2020, they purchased the ProShares Short S&P500 ETF on 12 occasions, investing between $23,000 and $156,000. This "short" fund is designed to return results in a 1-to-1 opposite of the S&P 500 index. As such, purchasing this fund can be interpreted as a defensive investment against an anticipated market decline. For more details on the transactions, you can review these disclosures at the House Office of the Clerk.
03/10/20 – purchased between $1,001-$15,000 in ProShares Short S&P500 (SH)
03/10/20 – purchased $848.58 in ProShares Short S&P500 (SH) (2nd on 3/10)
03/10/20 – purchased $383.23 in ProShares Short S&P500 (SH) (3rd on 3/10)
02/27/20 – purchased between $1,001-$15,000 in ProShares Short S&P500 (SH)
02/27/20 – purchased $354.20 in ProShares Short S&P500 (SH) (2nd on 2/27)
Rep. Lowenthal serves on the House Committee on Transportation & Infrastructure and on the House Committee on Natural Resources.