NC’s Tim Moore missed disclosure deadline, traded Intel stock before Trump deal
AI-generated summary reviewed by our newsroom.
- Rep. Tim Moore missed the 45-day disclosure deadline, filed late trade reports.
- Moore bought Intel, Centene, UnitedHealth and Krispy Kreme before key events.
- Ethics groups and lawmakers push Stock Act reform or bans amid conflict concerns.
After taking his oath of office in January, Rep. Tim Moore quickly became the most prolific stock trader among North Carolina’s congressional delegation.
By mid-September, Moore, a Republican from Kings Mountain, made more than 150 trades. Rep. Virginia Foxx, a Republican from Banner Elk who has been in Congress since 2005 and is known for her frequent trades, made just over 30 in that same timeframe.
Quiver Quantitative, a financial research platform tracking the trades of members of Congress, estimates that Moore has a net worth, as of Nov. 19, of $6.91 million.
But recent actions by Moore’s colleagues could jeopardize his ability to turn a profit using the stock market.
Proposed legislation, including a bill that had its first hearing Wednesday, would ban members of Congress and their families from owning, buying or selling individual stocks.
Such a ban would affect several of North Carolina’s lawmakers, including Moore, who made millions of dollars worth of investments over the course of his first year in Congress. Since taking office, Moore:
- Failed to disclose by a deadline a sizable amount of stock purchases he made shortly before President Donald Trump announced worldwide tariffs in a move Trump called Liberation Day.
- Invested in four companies — Intel, Centene, United Healthcare and Krispy Kreme — that stood to see big changes because of business or government decisions.
- Invested hundreds of thousands of dollars into an exotic investment fund that earns investors money when another market index falls, The Assembly first reported.
In 2012, Congress passed the STOCK Act, requiring members to report their stock trades within 45 days and preventing them from trading on inside information they obtained through their roles in public service. But with few ramifications for those who fail to comply, there have been calls to strengthen the law.
Moore, a former speaker of the North Carolina House, faced heightened scrutiny over his day trades because he serves on the House Committee on Financial Services Subcommittee on Oversight and Investigations. He also serves on the Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence.
Buying Intel stock
Conversations around Moore’s stock purchases dripped out slowly but reached a crescendo when people noticed that 24 days before Trump announced that the United States was entering into an unprecedented partnership with Intel, Moore invested in the company’s stock.
That was according to a report available at the time. Moore later filed a report showing he had also sold a much larger amount of Intel stock just before word of the deal went public.
“The Congressman sold his Intel shares on August 12th, ten days before the Administration’s announcement,” Grace Davis, Moore’s spokeswoman, said in a written statement on Aug. 27. “He has never traded on any inside information and never will.”
Moore disclosed his purchase of Intel’s stock in a report that also included six stock purchases in Centene, one purchase of Harley-Davidson, two of Krispy Kreme, two of United Healthcare and one of Verizon Wireless. All took place between July 14 and July 30.
For David Sacco, a lecturer at The Pompea College of Business within the University of New Haven who has 25 years of Wall Street experience, it was the Intel purchase that stood out to him because of Trump’s deal.
But Sacco noted that he has no evidence Moore knew about that deal — and such questions highlight “the messy problem” with the STOCK Act.
“The STOCK Act doesn’t clearly specify what (members of Congress) can and can’t do,” Sacco said. “All it says is they have to report it.”
The Brennan Center for Justice, a legal watchdog organization, sees a potential conflict of interest in lawmakers owning stock, saying that they are privy to nonpublic information that can sometimes affect the stock market and that under the current rules, violations of insider trading are difficult to uncover.
A timeline of Moore’s Intel purchases
On July 29, Moore purchased between $15,001 and $50,000 worth of stock in Intel. Intel’s stock closed at $20.41 that day.
A report Moore filed on Aug. 5 to the House Committee on Ethics showed the purchase. Such reports show only broad ranges rather than the exact amount of stocks bought or sold.
On Aug. 22, Trump announced the U.S. government would take a 10% equity stake in the company, meaning the U.S. gets 10% of the company’s profits.
CNN first reported the potential partnership on Aug. 14. The stock jumped from opening at $21.99 to closing at $23.86. It’s continued to rise since opening at $25.51 the Monday following Trump’s announcement.
Moore filed a new report on Sept. 3, showing that he sold between $100,001 and $250,000 worth of Intel stock on Aug. 13.
It closed at $22.22 that day.
Health care stocks
Moore’s purchases of stocks in Centene and United Healthcare came after Congress made major cuts to federal health insurance coverage.
As part of the trades he made in July and reported in August, Moore made five purchases of Centene stock valued between $15,001 to $50,000 each and one purchase valued at $1,001 to $15,000.
He also made one purchase of United Healthcare valued at $1,001 to $15,000 and one purchase valued at $15,001 to $50,000.
An analysis by MarketBeat deemed both companies risky to purchase stocks in because both companies receive large portions of their revenue from Medicaid.
Congress agreed to cut $1 trillion from Medicaid in the One Big Beautiful Bill Act, signed into law on July 4. Moore voted in favor of the bill.
MarketBeat reported that 46% of Centene’s revenue came through Medicaid in the second quarter. With more than 10.3 million people expected to lose Medicaid coverage, Centene stood to be negatively affected. The day Moore purchased the stock, Centene opened at $31.46. It has fallen as low as $25.22, but climbed over $38 since. It’s currently hovering closer to the low $30s.
“At this point, there is a highly elevated level of risk around Centene shares…” MarketBeat reported. “Although sitting on the sidelines isn’t fun, it is likely prudent. It will be important to see how markets and Centene shares react to the bill to understand if these names truly offer an opportunity.”
When Moore filed his latest two disclosure reports, they showed he had made three additional purchases of Centene on July 30, Aug. 7 and Aug. 8. The first two purchases were each valued between $15,001 and $50,000 and the last was valued at $1,001 to $15,000.
Moore sold between $100,001 and $250,000 in Centene stock on Aug. 18, when it was worth $32.91.
He also made two more purchases of United Healthcare valued between $1,001 and $15,000 each on Aug. 1 and Aug. 8. On Aug. 15, Moore sold between $50,001 and $100,000.
Krispy Kreme
Moore bought stock in Krispy Kreme just as the Charlotte-based company saw its stock price drop.
In March 2024, Krispy Kreme had partnered with McDonald’s to sell doughnuts at the fast food chain. The partnership was supposed to go nationwide next year.
But in July, the two businesses parted ways, saying that it was lucrative for McDonald’s but unsustainable for Krispy Kreme.
That July 24 announcement caused a drop in stock price.
Moore made two purchases on July 29 and July 30: the first valued between $1,001 and $15,000, and the second between $15,001 and $50,000. The stock opened those days at $4.02 and $3.79.
Moore purchased the stock twice more on Aug. 1 and Aug. 4, in amounts valued between $1,001 and $15,000 each.
He has retained his stock in Krispy Kreme since then. On Oct. 28, it opened at $3.94.
Exotic investments
Moore isn’t afraid to take risks, as evidenced by his purchases of exotic investments throughout the year.
These are investments that are intended to go up when the stock market goes down.
Moore made his most recent investment in August.
In his August report, he reported making four purchases of Direxion ETFs at a price of at least $81,004 — though he’s only required to report a range he spent, so the exact amount is unclear.
He made another seven purchases of Yieldmax ETFs, spending at least $360,007.
For a flavor of how risky these funds can be, Yieldmax offers a warning on its website saying: “Investing in the fund involves a high degree of risk. Issuer-specific attributes may cause an investment in the Fund to be more volatile than a traditional pooled investment which diversifies risk or the market generally.”
Moore still owned these, and similar investments he purchased earlier in the year, as of November.
Failure to report
In June, Fortune reported that Moore failed to disclose thousands of dollars worth of trades he made.
Moore’s trades were made around April 2, Trump’s “Liberation Day,” when Trump announced sweeping worldwide tariffs.
“The Congressman has consistently complied with all disclosure requirements, and any suggestion otherwise is false,” Davis said.
After Fortune published its article about Moore’s failure to report, he responded to the publication’s request for comment blaming technical issues.
That’s a similar response to the one Sen. Thom Tillis, a Republican from Huntersville, gave to Raw Story in 2023, after he failed to file a disclosure for nine months. He told the outlet that was due to processing errors.
In 2022, then-Rep. Kathy Manning, a Democrat from Greensboro, repeatedly failed to report her stock trades in a timely manner.
The Brennan Center filed 15 complaints last year reporting “between $14.3 million and $52.1 million in undisclosed or untimely disclosed stock trading” by members of Congress.
Penalties for missing the reporting deadline are set at $200, and are sometimes waived if rectified within 30 days.
Oversight committee
Moore’s work in Congress would make him more than aware of the STOCK Act. He serves as vice chairman of the House Committee on Financial Services Subcommittee on Oversight and Investigations.
A news release about Moore’s appointment to the subcommittee noted the committee “has jurisdiction over issues pertaining to the economy, the banking system, housing, insurance, and securities and exchanges” and “jurisdiction over monetary policy, international finance, international monetary organizations, and efforts to combat terrorist financing.”
“The Committee oversees the nation’s economy through its oversight of the Federal Reserve Board and individual reserve banks, the Treasury, the production and distribution of currency, and the nation’s capital markets,” the news release stated.
This story was originally published November 20, 2025 at 5:00 AM with the headline "NC’s Tim Moore missed disclosure deadline, traded Intel stock before Trump deal."