Failed Senate hopeful David Trone reveals up to $97 million in trades of government securities

Rep. David Trone (D-MD), who lost the Democratic Maryland Senate primary Tuesday by a wide margin, submitted a financial disclosure Wednesday listing buys and sells of up to roughly $97 million last year in U.S. Treasury bills.

The sprawling trades listed on the financial disclosure were sub-holdings of Trone’s joint JPMorgan investment account. The filing, which was published by the House, also listed up to $100,000 in shares of PepsiCo that Trone’s spouse sold in November 2023 through a separate trust. Treasury bills, which are issued by the U.S. government, are short-term debt obligations that help the government fund public projects such as the construction of highways.

Trone doesn’t appear to have skirted federal rules over disclosing the trades of the Treasury bills after many months, since this type of security is not covered
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