Rep. Ro Khanna dominated the latest wave of congressional filings with a clear pattern of selling ahead of earnings releases. The California Democrat recorded seven sales in cybersecurity firm TENB, six in packaging producer GPK, five in CART, and three in INTC. These 21 sales stand out for their concentration and timing just as the companies prepared quarterly updates.
In the opposite direction, Khanna made three purchases of MRVL and joined Rep. David J. Taylor in buying PLD three times total. Separate filings showed three sales of MSFT by Khanna, Sen. Sheldon Whitehouse and Sen. Shelley M. Capito. Activity in PG split with two buys and one sale between Reps. David J. Taylor and Maria Elvira Salazar. A broad N/A bucket, understood to include names such as NABL, logged 26 trades with 15 buys outweighing seven sells across seven lawmakers including Khanna.
Earnings results have since emerged for several of these names. TENB posted $276 million in revenue for the period against consensus near $279 million and raised full-year guidance on strength from its Tenable One platform and AI exposure tools. GPK reported adjusted EPS of $0.23, beating the $0.22 street estimate, and its shares rose more than 20 percent on the news despite a year-over-year EBITDA decline. NABL, grouped in the N/A activity, also beat EPS and revenue estimates in its recent print.
The data suggests unusual timing between the volume of pre-report selling in names that ultimately delivered beats or raised outlooks and the simultaneous buys in MRVL, a semiconductor play, and logistics-focused REIT PLD. With conviction scores elevated on the sell side for Khanna's TENB and GPK exits, the filings add to a string of concentrated congressional moves that have overlapped with earnings calendars throughout 2026. Other lawmakers' net buying in PLD and PG points to selective optimism in real estate and defensive consumer names even as tech and cyclical exposure was trimmed.
This rotation arrives as analysts continue to forecast modest growth for these sectors into 2027, with MRVL and remaining tech names still facing upcoming reports. The cluster of Khanna-led activity provides a specific data point on how some lawmakers are adjusting portfolios when quarterly results loom.
This is data analysis, not financial advice.
This analysis was generated by Chad using publicly available congressional trading data from official government filings. This is not financial advice. All data is sourced from senate.gov, clerk.house.gov, and SEC EDGAR.