Yesterday, former President Donald Trump announced that he had selected Ohio Senator J.D Vance as his pick for Vice President. Vance just so happens to be an extremely savvy investor.
In 2020, Vance launched venture capital firm Narya Capital with $93 million in seed capital. Narya’s backers included Peter Thiel and Marc Andreessen. Before that, Vance was a Managing Partner at early-stage venture capital firm Rise of the Rest Seed Fund. Today, he has an estimated net worth of $8.69 million.
Vance has done his fair share of investing in public equity as well. According to Quiver Quant, he owns stakes in the three benchmark indices, the SPDR S&P 500 ETF Trust (NYSEARCA:SPY), the Invesco QQQ Trust Series 1 (NASDAQ:QQQ) and the SPDR Dow Jones Industrial Average ETF Trust (NYSEARCA:DIA). These positions were disclosed on Oct. 30, 2023 and represent his portfolio in 2022. Vance has not yet filed his 2023 positions and has requested an extension.
Vance’s last disclosed trade, on Oct. 3, 2023, involved the sale of between $50,001 and $100,000 of Walmart (NYSE:WMT) stock. He still owns an estimated $10,700 of WMT stock.
J.D. Vance’s Stock Portfolio and Anti-ESG Stance
Vance also owns several other positions that may catch the eye of investors. One of these is the ProShares K-1 Free Crude Oil Strategy ETF (BATS:OILK). The exchange-traded fund seeks to track the return of the Bloomberg Commodity Balanced WTI Crude Oil Index.
Vance is against environmental, social and governance (ESG) policies and supports oil and gas as as viable form of energy. He’s even gone as far as proposing a $7,500 tax credit for gas cars instead of electric vehicle (EVs), adding that it could create domestic jobs because many EVs are made in China.
“ESG is basically a massive racket to enrich Wall Street and enrich the financial sector of the country, at the expense of the industries that actually employ a lot of Ohio’s workers for middle-class jobs,” said Vance in 2022.
Vance has previously spoken out against President Joe Biden and his administration’s policy of subsidizing alternative energy sources, adding that it has resulted in “wanton harassment of fossil fuel companies, to the detriment of the American people.” He’s also a supporter of fracking, a controversial practice used for extracting oil and gas from the ground.
Another one of Vance’s interesting investments is Bitcoin (BTC-USD). According to Business Insider, he owned between $100,000 and $250,000 of the cryptocurrency through a Coinbase (NASDAQ:COIN) account. That seems to line up with Trump’s supportive stance on crypto, as the presidential candidate is set to speak at the Bitcoin Conference in Nashville, Tennessee later this month.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
On the date of publication, the responsible editor did not have (either directly or indirectly) any positions in the securities mentioned in this article.
