Rep Biggs’s First Filing Shows a $Multi-Million Shift to Bonds

Rep. Sheri Biggs’s first financial disclosure since taking office paints the picture of a diverse, globally spread portfolio undergoing a decisive shift. Nearly all transactions were executed through a professionally managed account under the “W.S.B. Trust > UBS Financial Services Inc”, suggesting the trades were handled by financial managers rather than through personal stock-picking.

But even so, the portfolio’s direction tells an interesting story.

Between March and August 2025, the trust offloaded dozens of positions across sectors, from household U.S. blue chips like Apple, Microsoft, and Johnson & Johnson to international names such as Tencent, Diageo, and Banco do Brasil. Many of these were strong-performing, well-regarded companies, but the timing suggests a purposeful rotation rather than reactive selling.

The transactions came shortly after Biggs assumed office, signaling a move away from growth-oriented equities and into more conservative holdings, a shift that aligns with a risk-managed or compliance-conscious approach often seen when officials enter public service.

In total, more than 50 equity sales were balanced by significant reinvestments into fixed income and alternative assets, including U.S. Treasury notes, Bank of Nova Scotia corporate bonds, and income-focused funds like Apollo Debt Solutions BDC and iCapital SL Partners VII Access Fund LP. Together, these moves reflect a broad repositioning toward stability and steady yield, a hallmark of a professionally managed, defensive portfolio.

The timing also stands out. While the sell-offs occurred in March, they came just ahead of a major rally in global equities and AI-led tech stocks. The managed account appears to have rotated capital out of risk-sensitive equities into safer holdings, a strategy often used by wealth managers anticipating tightening liquidity or overextended valuations.

Her only risk-on addition amid the broader conservative positioning was the iShares Bitcoin Trust ETF, added in July 2025 around $63 and already showing an 8% gain by filing time, a small but interesting hedge against inflation, contrasting sharply with the broader conservative tilt.

To sum it up, Sheri Biggs’s debut disclosure doesn’t show the hallmarks of a hands-on trader, rather, it reflects a professionally diversified, institutionally managed portfolio rebalancing away from growth and into yield and stability. Still, the fact that her first filing shows such scale, variety, and global exposure makes it one of the more complex inaugural disclosures from a freshman member of Congress this year.