Key points
- Senator Dave McCormick (R-PA) disclosed two Goldman Sachs (GS) purchases, traded May 27 and June 2, 2026, each valued at $100,001 to $250,000, in a filing dated June 27.
- Measured against the closing price on each trade date, the first buy is up about 3% and the second is down about 4%, leaving him roughly flat so far, with GS near $1,023.
- The trades draw attention because McCormick sits on the Senate Banking Committee and his wife, Dina Powell McCormick, spent about 16 years as a senior Goldman Sachs executive.
Senator Dave McCormick, a Pennsylvania Republican, disclosed two purchases of Goldman Sachs (GS) stock in a periodic transaction report filed on June 27, 2026. Both were buys, and both fell in the $100,001 to $250,000 range. The first was traded on May 27 and the second on June 2. Here is what those purchases look like against where Goldman trades today.
What he paid, and where it sits now
Congressional disclosures report the date of a trade and a dollar range, not the exact price paid, so the cleanest way to anchor a purchase is the stock's price on the day it was made. On that basis:
- May 27 buy: Goldman closed that day at about $996. As of late morning on June 29, the stock was around $1,023, so that purchase is up roughly 3 percent.
- June 2 buy: Goldman closed that day at about $1,065, roughly $70 above where he had bought about a week earlier. With the stock back around $1,023, that purchase is down roughly 4 percent.
Put together, and assuming a similar amount in each, McCormick is close to break-even on the pair, down less than 1 percent so far. One buy caught a dip and the other caught a top, a useful reminder that even well-connected buyers do not time every entry.
Why these trades get extra attention
A senator buying a bank stock would not normally be news. McCormick's Goldman trades are different for two reasons. First, he serves on the Senate Banking Committee, which has oversight of the financial industry, including firms like Goldman Sachs. Second, his wife, Dina Powell McCormick, spent about 16 years in senior roles at Goldman Sachs. That combination, a lawmaker with banking oversight and a deep family tie to the bank, is why his Goldman transactions tend to draw scrutiny from ethics watchers and the financial press.
None of that makes the trades improper on their own. Members of Congress and their spouses are allowed to own and trade individual stocks. What the law requires is disclosure, and McCormick disclosed these within the window the rules allow.
How the rules work
Under the STOCK Act, members of Congress must report transactions by themselves, their spouse, or dependent children within 45 days. McCormick's June 2 trade was disclosed on June 27, about 25 days later, and the May 27 trade about a month later, both inside the 45-day limit. The reports cover a household, so a transaction can belong to the member or the spouse. Critics have long argued that 45 days is slow and that lawmakers should not trade individual stocks at all, and several bills to restrict the practice have been introduced over the years, though none has become law. We looked at another recent congressional disclosure in our piece on Nancy Pelosi's Intel and Uber trades.
The bottom line: McCormick added to Goldman Sachs twice in late May and early June, at prices that have him roughly flat so far. The more interesting part is not the small move in the stock but the backdrop, a senator with banking oversight and a spouse who built a career at the very bank he is buying.
Nothing here is investment advice. Stock prices are intraday and as of about 11:30 a.m. ET on June 29, 2026, and move during the day. Trade details come from public congressional disclosures. Do your own research.
Cover photo: United States Capitol, Architect of the Capitol (public domain), via Wikimedia Commons, cropped.
