Congress Stock Trading Late Filings, 2023–2026: 2,064 House Trades Reported After 45 Days

Of the stock trades House members made from January 1, 2023 to October 20, 2026, 2,064 were reported more than 45 days after the trade date, past the STOCK Act's outer limit for disclosure. That is 12.7% of the 16,280 trades AlphaScala matched to an official filing date. The median trade was reported 27 days after it happened.

Late STOCK Act filings cluster in a few large reports. Ten periodic transaction reports (PTRs), each listing 50 or more late trades, hold 1,577 of the 2,064 (76%). Five members filed 1,207 of them (58%): Lisa McClain, Val Hoyle, Julia Letlow, John James and Sheri Biggs. Every count here comes from the filings themselves. A late report is a public record of timing; it does not say why the report was late.

Most trades still arrive inside the window: 87.3% were reported within 45 days.

The STOCK Act's 45-day rule and the $200 late fee

A PTR is the form on which a member of Congress discloses a trade worth more than $1,000 in stocks, bonds, commodities futures or other securities. The deadline is in 5 U.S.C. § 13105(l), which requires a report "Not later than 30 days after receiving notification of any transaction required to be reported" and "in no case later than 45 days after such transaction." Paragraph (9) of that section lists Members of Congress among the people who must file.

The House Committee on Ethics administers the rule for the House and states it as two dates. Its 2026 instruction guide says a PTR "must be filed by the earlier of these two dates: 1. 30 days from being made aware of the transaction; or 2. 45 days from the transaction date."

The fee comes from the statute. Under 5 U.S.C. § 13106(d), anyone who files a required report "more than 30 days after" its due date must "pay a filing fee of $200," and the supervising ethics office "may waive the filing fee under this subsection in extraordinary circumstances." The Committee's guide says "All late PTR filings are subject to a minimum fee of $200. However, multiple late PTR filings could result in additional fees." Its January 2023 memo was more specific: a PTR "is late if submitted any time after the due date, but there is a 30-day grace period before late fees are imposed," and repeat late filings "can result in fees of $200 per late transaction."

Whether any member named in this study paid a fee cannot be checked from public records. The guide says fee waiver requests go to the Committee in writing and "Neither the request nor the Committee's response will be made publicly available."

The weekend rule is stricter than the one for fund managers. 13F filing deadlines move to the next business day when day 45 falls on a weekend or holiday; a PTR due on a Saturday is due that Saturday.

Late STOCK Act filings by year, 2023–2026

AlphaScala counted each trade under the year it was made, then measured the days to the filing that disclosed it.

The late share nearly doubled from 2023 trades to 2024 trades, then eased for 2025. In every year, one member accounts for at least a quarter of the late trades: John James for 109 of the 431 dated 2023, Val Hoyle for 133 of the 514 dated 2024, Lisa McClain for 474 of the 1,022 dated 2025 and Gil Cisneros for 54 of the 97 dated 2026.

The 2026 figure is a floor, and the 2025 figure can still rise. A trade enters the data only when its report is filed, and late reports are by definition the last to arrive. Julia Letlow's PTR of January 13, 2026, for example, added 192 late trades dated between October 23, 2024 and November 21, 2025.

Most late trades were not near misses. Of the 2,064, 704 (34%) were filed 46 to 75 days after the trade, within 30 days of the 45-day cap. The other 1,360 (66%) were filed more than 75 days after the trade, which puts them past the 30-day fee grace period whatever notification date the filer gave. Those 1,360 sit on 76 PTRs from 61 members.

Even the median trade becomes public 27 days after it is made, and trading on disclosed positions puts your capital at risk. The newest House filings are on the congressional trades feed.

Which House members filed the most late trades

Of the 168 current and former House members with a dated trade since January 2023, 75 reported at least one trade late: 42 Republicans and 33 Democrats. Twenty-five reported 10 or more late trades, and 19 reported exactly one.

Lisa McClain's 533 late trades are all on one PTR, filed August 13, 2025, covering trades in a spouse's account from March 11, 2024 to June 24, 2025. That single report holds 26% of every late trade in the study.

Trading volume and lateness are different measures. Josh Gottheimer has the most dated trades of any member, 1,674, and six of them were late. Gil Cisneros, with 1,633, reported 64 (4%) late, none by more than 64 days. Dan Goldman's 32 late trades out of 1,246 were all dated March 1, 2023 and filed April 17, 2023, 47 days later. At the other end, Julia Letlow reported 192 of her 238 dated trades (81%) late, with a median delay of 344 days on those 192.

The longest delay in the data belongs to Rich McCormick. His PTR filed September 17, 2025 lists 33 purchases dated March 15, 2023 in a Roth IRA account, 917 days earlier, and gives April 10, 2023 as the notification date.

Trades in a spouse's account were 23% of all dated trades (3,743 of 16,280) and 51% of the late ones (1,054 of 2,064). McClain's filing accounts for much of that gap. Without it, spouse-account trades are still 34% of the late total (521 of 1,531).

The forms also record when the filer says the trade came to their attention. On 1,419 of the 2,064 late trades (69%), the notification date is within 30 days of the filing date: the report met the 30-day clock as the filer dated it and missed the 45-day cap, which applies whatever the notification date. The other 645 list a notification date more than 30 days before the filing.

AlphaScala's STOCK Act late-filings tracker ranks members by late trades and links the PTR behind each recent late trade. Every member's profile is linked from the House members' trades hub.

How AlphaScala measured late filings

AlphaScala builds its House data from the PTRs the Clerk of the House posts online. For this study we took a snapshot on October 22, 2026 of every House trade dated January 1, 2023 or later: 16,307 rows, with filings through October 20, 2026.

1. Days to file. The PTR's filing date from the Clerk's financial disclosure index, minus the trade date. A trade counts as late at more than 45 days. The notification date is not used in the count.
2. Exclusions. Seven rows whose filing date falls before the trade date were dropped as data errors. So were 20 late lines that the filing itself marks "Amended," because an amendment can restate a trade that was first reported on time. Eight other Amended lines were filed within 45 days of the trade, so they are on time under either reading and stay in. That leaves 16,280 trades: all but seven link to one of 1,540 PTRs, and those seven, none of them late, were loaded in May 2026 without a link to their document.
3. Source check. We downloaded all 106 PTRs that contain a late trade. Each of the 2,064 trade dates appears on its line of the PDF, and every one of those lines is marked "New." For 2,059 of the 2,064, the filing date matches the Clerk's 2023–2026 index exactly; the other five, on one Jared Moskowitz filing, carry a database date 15 days earlier than the index and are late under either date.
4. Notification-date check. An earlier AlphaScala data review had flagged rows whose notification date equals the trade date as a possible artifact of an older data feed. There are 804 such rows. The study measures to the filing date, so those dates do not enter the count, and the 36 late trades among them all match their PTRs. All 22 late trades of Michael Rulli are in this group: his PTR filed August 7, 2026 prints the trade date as the notification date.

Dropping those 804 rows anyway moves the results only slightly:

Four limits apply to these counts:

• Matching lines count once. The database keeps one row per member, trade date, ticker, direction and lower amount bound, so lines that share all five become one trade. Most collapsed lines are securities without a ticker, such as Treasury bills and mutual funds, traded on the same day in the same amount band. The 106 late PTRs carry 2,200 late lines against 2,064 stored trades; McClain's August 2025 filing lists 722 lines, of which 709 are stored.
• Paper filings are not parsed. The Clerk's index lists 259 House PTRs filed on paper since January 2023. AlphaScala does not read trades from scanned forms, so trades reported only on paper are missing.
• The 30-day clock is not tested. A report can be late under the 30-days-from-notification rule while still landing inside 45 days. This study counts only the 45-day cap, so its total is a floor.
• Senators are not included. AlphaScala's Senate records end with trades from November 2020 and carry no filing dates.

The tracker updates daily and also counts the 20 Amended lines, so on October 22, 2026 it showed 2,084 late trades from 80 members against this study's 2,064 from 75.

FAQ

How long do members of Congress have to report a stock trade?

The earlier of 30 days after they learn of the trade or 45 days after the trade date, under 5 U.S.C. § 13105(l). The House Committee on Ethics says there are no extensions for PTRs, and a PTR due date that falls on a weekend or federal holiday does not move to the next business day.

What is the fine for filing a STOCK Act report late?

The statute, 5 U.S.C. § 13106(d), sets a $200 fee for a report filed more than 30 days after its due date. The House Ethics Committee calls $200 the minimum for a late PTR and says repeat late filings can cost more. In AlphaScala's data, 1,360 House trades dated since 2023 were filed more than 75 days after the trade, beyond that 30-day grace period.

Which House members filed the most stock trades late since 2023?

Lisa McClain (533 trades), Val Hoyle (222), Julia Letlow (192), John James (148) and Sheri Biggs (112), counting trades dated January 1, 2023 to October 20, 2026 and reported more than 45 days after the trade. Together they account for 1,207, or 58%, of the 2,064 late trades AlphaScala found.

How long does a typical House stock trade take to be disclosed?

The median is 27 days, across 16,280 House trades dated January 1, 2023 to October 20, 2026. In that set, 59.3% were reported within 30 days and 87.3% within 45 days, while one trade in ten took 57 days or longer.

Does a late PTR mean a member broke the law?

It means the report missed the STOCK Act's 45-day cap; the filing itself does not say why. The form records when the filer says they learned of the trade, but the cap applies whatever that date is. Fees and waivers are not public either: the House Ethics Committee says neither a fee waiver request nor its response "will be made publicly available."