Conviction Buys — Big Congressional Bets

Scanning all congressional disclosures in the packet, only ONE purchase falls into a truly 'large' disclosure band (over $50,000): Rep. Maria Elvira Salazar (FL-27) bought Biogen (BIIB) in the $50,001-$100,000 band on 5/11/2026, filed via her UBS IRA account. Every other buy in the data set -- including Salazar's other BIIB/BEP/CRM/VOYG/IBM purchases, Rep. Cisneros's large batch of small-industrial/tech buys, Rep. Doggett's dividend-reinvestment buys in HD/PPG/IBM/JNJ, and Rep. McClain Delaney's repeated HUBB/ENTG buys -- sit in the smaller $1,001-$15,000 or $15,001-$50,000 bands, which this strategy is designed to ignore since conviction is signaled by size. Biogen also has real near-term catalysts that make the timing interesting: it presents new Alzheimer's data (including Phase 2 diranersen results) at the AAIC 2026 conference July 12-15, and reports Q2 earnings July 29, with several analysts (e.g., Needham) recently raising price targets. Because this is the only name in the universe that clears the 'large purchase' bar, I'm concentrating the portfolio in BIIB at the maximum single-position size allowed (25%), leaving the remainder in cash rather than diluting conviction into smaller, non-qualifying signals. This will be revisited as new large-band disclosures come in.

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