Simultaneous Bets on Energy and Healthcare: Congressman Josh Gottheimer's Two Picks

Democratic Representative Josh Gottheimer of the U.S. House’s centrist wing disclosed on March 16 that he purchased large-cap energy and healthcare stocks in early February. According to the filing, he acquired between $1,001 and $15,000 worth of Exxon Mobil (XOM) and UnitedHealth Group (UNH) shares each. In Exxon Mobil’s case, two separate purchases over two days mean his total exposure could reach up to $30,000. The disclosure was made within 45 days of the transactions, in compliance with the STOCK Act’s reporting deadline.

Gottheimer represents New Jersey’s 5th Congressional District and serves on the House Financial Services Committee, including its subcommittees on Digital Assets, Fintech, and Artificial Intelligence, as well as National Security, Illicit Finance, and International Financial Institutions. He plays a direct role in shaping Wall Street, insurance, and crypto regulation. A pro-business, centrist Democrat, he has championed fiscal discipline and financial innovation. However, he has faced accusations of STOCK Act violations in the past—stemming from hundreds of personal stock trades and a late filing in 2021—and a promised blind trust from 2022 had still not been established by mid-2024. By adding heavily regulated, large-cap stocks in energy and healthcare to his portfolio, Gottheimer’s latest trades touch on congressional authority over financial regulation, climate disclosures, and healthcare costs—and could reignite calls to ban individual stock trading by members of Congress.

Exxon Mobil is the world’s largest integrated oil and gas company, driven by key developments in the Permian Basin and Guyana. In 2025, it generated more than $50 billion in operating cash flow and returned roughly $37 billion to shareholders through dividends and share repurchases. As a result, its stock surged 40–50% from mid-2025 through February 2026, hitting an all-time high before experiencing a modest pullback amid oil price volatility and recalibrated earnings expectations. With legislation on climate action, carbon emissions regulations, and energy security exerting growing influence on financial markets, a member of the Financial Services Committee holding and trading shares in a major fossil-fuel company raises potential conflicts of interest as Congress debates future climate disclosures, carbon rules, and tax incentives.

UnitedHealth Group is the world’s largest health insurer by revenue, reporting $447.6 billion in sales for 2025. Yet over the past year its stock has fallen nearly 50%, weighed down by soaring healthcare costs, deteriorating Medicare and Medicaid margins, and fallout from a major cyberattack. In late January, the stock plunged 15–20% in a single day after the government proposed a mere 0.09% increase to 2027 Medicare Advantage premiums and UnitedHealth issued guidance forecasting a 2% revenue decline in 2026—underscoring regulatory and policy risks. Given the far-reaching impact of healthcare legislation on financial and insurance markets—from Medicare reimbursement rates to insurer margin caps and drug-pricing reforms—a lawmaker on the overseeing committees buying these shares could undermine market confidence and public trust. Ethics experts are once again urging mandatory blind trusts or an outright ban on personal stock trades by members of Congress.