A senator is cashing out of a top financial stock after large gains in 2025. The sale could capture investor attention given the senator’s committee assignments and past purchases. Here are the details.
Senator Sells Goldman Sachs Stock
Senator David McCormick (R-Pa.) recently sold between $1 million and $5 million in shares of Goldman Sachs (NYSE:GS), as shared by the Benzinga Government Trades page.
The transaction was done on Jan. 23 when shares traded between $917.05 and $937.16. Today, Goldman Sachs stock trades at $905.64, below the senator’s recent sale price.
According to the disclosure, the trade was made by the senator’s spouse, a former Goldman Sachs employee. The disclosure marks this as the full amount of Goldman Sachs stock traded, meaning the senator and his wife no longer hold any shares in the large financial company.
The disclosure also showed that McCormick spent between $2.1 million and $4.5 million on various municipal securities.
McCormick previously disclosed selling $1 million to $5 million in Goldman Sachs shares back on Feb. 28, 2025. This came when shares traded between $604.01 and $623.65.
Goldman Sachs stock was the second-best performing stock in the Dow Jones Industrial Average in 2025 with a gain of 55.8%.
McCormick’s wife Dina Powell McCormick previously spent 16 years with Goldman Sachs serving in various senior leadership roles. She also previously served in advisory roles under President Donald Trump and President George W. Bush.
The senator’s wife was recently named president and vice chairman of Meta Platforms (NASDAQ:META), rejoining the company where she served on the Board of Directors from April to December 2025 before resigning without explanation.
What Investors Should Know About the Trade
The latest sale, which locks in profits from 2025, could catch investor attention given McCormick’s committee assignments.
The Republican senator is a member of the Committee on Banking, Housing and Urban Development, giving him insight into the banking sector across the United States. While the trade may have been made for profit-taking or another reason, the committee assignment could prompt more investors to watch to see if Goldman Sachs shares fall further going forward.
The transaction also comes after McCormick spent hundreds of thousands of dollars scooping up shares of the iShares Bitcoin Trust (NASDAQ:IBIT) ETF last year, betting big on the future valuation of Bitcoin (CRYPTO: BTC).
McCormick, the former CEO of the hedge fund Bridgewater Associates, narrowly won a Senate seat in the 2024 election. During his Senate campaign, McCormick was endorsed by Coinbase Global CEO Brian Armstrong for his pro-crypto support.
A senator buying Bitcoin ETFs could signal support for the leading cryptocurrency. The purchase and timing could also draw red flags and continue the hot debate over whether members of Congress should be able to profit off the buying and selling of stocks, options and cryptocurrencies.
According to data from Quiver Quantitative, McCormick made $28 million in trades in 2025, with $19.1 million in buys and $8.9 million in sales, ranking as one of the highest trading members by dollar volume.
Image via Bill Perry/Shutterstock
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