The Goldman Rebuild

• Key findings
• On January 23, 2026, McCormick fully sold a Goldman Sachs position worth $1M–$5M — out of the stock entirely.
• He rebuilt it across seven purchases (Feb 23, 24, 25; Mar 3, 10; May 27; Jun 2), each $100,001–$250,000 — a combined disclosed range of $700,007–$1,750,000.
• The first buy landed the same day, Feb 23, 2026, a lobbying filing reported $300,000 on Dodd-Frank implementation; the average filing-to-trade gap was 5.2 days.
• McCormick sits on the Senate Committee on Banking, Housing, and Urban Affairs — the panel with jurisdiction over Dodd-Frank.
• GovGreed's model scored the trade 91.54 (S tier, PERFECT_STORM) — its highest ever — on the Committee-Trader and Lobbying-Influence signals.

1. A clean exit, then a methodical rebuild

On January 23, 2026, Sen. David McCormick (R-PA) fully sold a Goldman Sachs position worth $1 million to $5 million. It is worth stating plainly, because it is the honest context for everything that follows: he was out of the stock entirely. A month later he began buying it back — not in one lump, but across seven separate disclosed purchases: February 23, 24, and 25, then March 3 and March 10, and finally May 27 and June 2. Each landed in the same $100,001-to-$250,000 bracket. Combined, the disclosed range on the rebuilt position runs $700,007 to $1,750,000.

This paper asks a narrow, checkable question: what did the rebuild line up with? The answer is a committee seat, a lobbying filing, and a public law — all pointing at the same bank.

2. Data and methodology

Every figure here is drawn from public federal records. The January sale and all seven purchase dates, dollar brackets, and the ticker come from McCormick's own filed Periodic Transaction Reports under the STOCK Act. Every Goldman Sachs closing price on his entry dates, and the June 29, 2026 close, come from GovGreed's daily price history. The $300,000 Dodd-Frank lobbying filing, its date, and the 5.2-day average gap from filing to trade are recorded in GovGreed's lobbying-pattern data drawn from Senate LDA filings. His seat on the Senate Committee on Banking, Housing, and Urban Affairs comes from committee assignments. The composite 91.54 score is produced by GovGreed's seven-layer signal model.

Two cautions. Blended and per-tranche returns are computed on disclosed closing prices, not on the member's actual fills, which fall inside a bracket rather than at a single number. And the paper-gain range is bounded by the disclosed dollar brackets, not a precise cost basis. We measure the overlap and the price move; we do not allege intent.

3. The overlap: the committee, the law, and the bank

McCormick sits on the Senate Committee on Banking, Housing, and Urban Affairs — the panel with direct jurisdiction over Dodd-Frank and the banks it regulates. On February 23, 2026, a lobbying filing reported $300,000 spent on the “implementation of P.L. 111-203, the Dodd-Frank Wall Street Reform and Consumer Protection Act, and other issues related to the financial services industry.” That is a specific, verifiable public-law citation, not a vague description. The same day, McCormick made the first of his seven Goldman purchases.

That three-way overlap — a committee seat over the industry, a trade in the industry's flagship bank, and the industry's own lobbyists filing on the industry's core law — is what GovGreed's engine is built to catch. It scored this trade 91.54: S tier, PERFECT_STORM convergence, the highest master score the model has ever produced on any trade. Two signals fired — Committee-Trader (he sits on the committee that regulates the sector) and Lobbying-Influence (the trade tracks the industry's lobbying activity).

4. The receipts: seven entries, one climbing stock

Goldman Sachs closed at an average of $924.77 across McCormick's seven entry points. By June 29, 2026, it closed at $1,020.21 — a blended gain of just over ten percent on the full position, and better than fifteen percent on the five earliest purchases alone, the ones made before the stock's biggest run. Table 1 lays out every entry.

Average entry across all seven buys: $924.77; across the first five alone: $882.47. Latest close (Jun 29, 2026): $1,020.21 — blended +10.3% on all seven, +15.6% on the first five. Prices are disclosed daily closes. Verified June 29, 2026. Look up the trade on the member page.

Applied to the disclosed dollar range, that puts the unrealized paper gain on the rebuilt position somewhere between $72,000 and $180,000 as of June 29.

5. Discussion

The rebuild is notable less for its return than for its shape. A member sold out of a bank entirely, then re-entered it seven times, with the first entry synchronized to the day the industry's lobbyists filed paperwork on the exact law his committee governs. None of that requires a theory of intent to be worth documenting: the overlap between oversight, lobbying, and ownership is visible in the public record on its own. It is also the reason the pattern recurs — a committee seat conveys both influence over an industry and a vantage point on it, and the disclosures keep showing members holding the industries they regulate.

6. Limitations and caveats

This is the part to read slowly. Nothing here says McCormick knew Goldman Sachs would rise, and nothing here is an accusation of insider trading. Goldman's stock climbed broadly across the market all year, regardless of who was buying it, and none of these trades is illegal. The honest context includes the January sale: he was fully out before he rebuilt, and omitting that would misrepresent the record.

7. Conclusion

Strip the trade to its bones and three public facts sit on top of one another: a Banking Committee seat, a $300,000 lobbying filing on Dodd-Frank, and a seven-part rebuild of a Goldman Sachs stake that began the same day. No single purchase has to be improper for the overlap to matter. It is the second time the model has drawn the same shape around the same senator — and it is exactly the kind of structural conflict the congressional-trading-ban debate is about.

Frequently asked

References & data sources

1. STOCK Act disclosures — McCormick's congressional Periodic Transaction Reports, in GovGreed's Congress database; full history on his member page.
2. Senate lobbying filings (LDA) — the $300,000 Dodd-Frank filing and the 5.2-day filing-to-trade gap, recorded in GovGreed's lobbying-pattern data.
3. Committee assignments — McCormick's seat on the Senate Committee on Banking, Housing, and Urban Affairs, the panel with Dodd-Frank jurisdiction.
4. Daily closing prices — Goldman Sachs closes on each entry date and the June 29, 2026 close, from GovGreed's price history.
5. Signal model — the 91.54 composite (S tier, PERFECT_STORM) from GovGreed's seven-layer master score. How the scoring works.
6. Companion papers — The Committee Advantage · The Pelosi Options Machine.

Keep pulling the thread

Not financial advice. All data from public federal disclosures.