NVIDIA Corp (NASDAQ:NVDA, ETR:NVD), Microsoft Corp (NASDAQ:MSFT), International Business Machines Corp (NYSE:IBM) and Accenture PLC (NYSE:ACN) are some of the most well-liked stocks across US Congress, trading platform eToro revealed.
eToro has released three portfolios aimed at tracking the stocks with the largest connections to the US government and political activity.
The ‘Congress-Buys’ is a portfolio aimed at covering the top ten stocks purchased by Congress members in the last 100 days based on the size of the stakes.
Nvidia represents close to 55% of the portfolio, while Simon Property Group, the shopping mall giant, was second with a nearly 7% weighting.
Other well-liked companies among congress members included JP Morgan, Amazon, Home Depot and manufacturer Parker Hannifin.
However, the businesses with high potential to benefit from government activity are likely to be found in the ‘DC-Insider’ portfolio, as it tracks the companies which spend large sums lobbying, win government contracts and are traded frequently by Congress members.
Microsoft was the largest stock in the portfolio, with a 9% portion, followed closely behind by IBM and Accenture, who both cover around 8.9 of the grouping.
Other companies include Pfizer, Exxon-Mobil, General Motors, AT&T and Ford.
Yet with the world of politics constantly shifting and US citizens certain to have a new president by the end of the year, it may be the stocks in the ‘Lobby-Spending’ index which see the best benefits from changes.
This index covers companies which have had the largest quarter-on-quarter growth in their US federal lobbying expenses.
Stocks in this portfolio included eBay, Roblox, Formula 1 owner Liberty Media (NASDAQ:LINTA) and IBM.