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.