About the data

Desq Long republishes disclosure records that are already public. Every card states what was disclosed, when the underlying event happened, when it entered the public record, and where to read the original document. Nothing on this site is a recommendation, and no card carries a directional or performance judgement of any kind.

SEC FORM 4

Statement of Changes in Beneficial Ownership

Corporate officers, directors, and 10% owners must report changes in their own holdings to the SEC on Form 4, generally within two business days of the transaction. Desq Long reports the transaction code, the reporting person, and the amount exactly as filed.

SEC EDGAR · retrieved 2026-09-26 09:02 UTC

STOCK ACT PTR

Periodic Transaction Report

Under the STOCK Act, members of Congress file Periodic Transaction Reports disclosing covered transactions. Amounts are disclosed as ranges, never exact figures, so Desq Long shows the range the filer reported.

U.S. Senate eFD + U.S. House Clerk — Financial Disclosure, via Financial Modeling Prep; House disclosure dates from the House Clerk annual index · retrieved 2026-09-13 09:24 UTC

Financial Modeling Prep (Senate + House disclosures) · retrieved 2026-09-13 09:24 UTC (live API)
U.S. House Clerk annual disclosure index · retrieved 2026-09-13 09:24 UTC (authoritative House filing dates (A-1); nightly re-capture, additive (+40), covers to 2026-09-11)

USASPENDING

Prime award transaction

Federal prime award actions are published to USAspending.gov from the federal procurement record. Desq Long reports the awarding agency, the award identifier, and the obligated amount as published.

USAspending.gov (FPDS prime awards) · retrieved 2026-09-26 09:46 UTC

Dates on a card are always a pair: when the event happened, and when it was disclosed. Where the gap between them exceeds two business days, the card carries a disclosure-lag label — see the glossary for how that is counted.

Disclosure dates

Where the “disclosed” date comes from

The two chambers are sourced differently, and the difference matters enough to state plainly.

House. Disclosure dates come from the House Clerk’s own annual financial-disclosure index, joined to each record by the document identifier that appears in the filing link on the card. They are the statutory filing dates the Clerk publishes. Our data vendor supplies the transactions themselves and identifies which filings exist, but its published date is when the record was distributed rather than when it was filed — later than the filing date on 536 of the 547 House records currently held, and never earlier — so the Clerk’s date is what a card shows. A House record we cannot match to the index is held back rather than published on an unverified date.

Senate. Senate disclosure dates are the vendor’s. There is no equivalent published Senate index of filing dates available to us, so the gap between the date shown and the statutory filing date is unmeasured for Senate records — it may be similar to the House gap, and we have not verified it. The disclosure-lag label on a Senate card inherits that uncertainty.

Federal contract awards

What this lane covers, and what it does not

Which awards. Prime contract actions published to USAspending.gov from the federal procurement record, for action dates 2026-08-06 to 2026-08-19, restricted to awards worth $1,000,000 or more. That threshold applies to the award’s total value, not to the individual action — so a $4,000 modification to a $50M contract is in scope, while every action on a $900,000 contract is out of it. Grants, loans, direct payments, indefinite-delivery vehicles and sub-awards are not in this lane.

Which companies. An award becomes a card only when we can identify the listed company that owns the recipient. Most federal work is performed by named subsidiaries — Oracle Health Government Services, General Dynamics Information Technology, Accenture Federal Services — so recipients are matched through a hand-checked crosswalk, with the reason recorded for every entry. There is no authoritative public list linking federal recipients to stock tickers, and the automated shortcuts are worse than useless: matching on company names alone pairs a federal contractor called GAP Solutions with the clothing retailer Gap Inc. The crosswalk is therefore partial by construction. Recipients we have not matched — including every private company, and joint ventures, which we never attribute to one partner — are stored and reported here, but they are not carded. An award missing from a company’s timeline may simply be one we have not yet linked.

Which actions. Federal contract actions include zero-dollar administrative modifications and negative actions that give money back (de-obligations). Both are real and both are stored, but neither is carded, because a card in this lane states that a company was awarded an amount — a sentence that is simply not true of a $0 modification or a −$24.9M de-obligation. A card type for de-obligations would be a genuine addition to this site, and it does not exist yet.

The dates, and the claim we do not make. A contract card carries two dates: Awarded, the action’s own date from the federal record, and First seen, the date the action first appeared in our ingestion of USAspending. “First seen” is a fact about us, not about the filer, and it is labelled that way on purpose: USAspending publishes no per-action publication timestamp, so we cannot state when an award action entered the public record and we do not claim a statutory disclosure lag for this lane. Contract cards carry no lag label for that reason — the interval we could measure would be our own observation delay wearing the clothes of a filing deadline. Federal actions do reach the API days after they happen: the most recent day in the window we hold contains no records at all.

Price data

Where prices come from, and what a missing one means

What prices are for. Daily closing prices come from our market-data vendor. They are used for one thing: the hypothetical strategy figures on /strategies and on member pages, which are labelled as hypothetical wherever they appear. No price is part of a disclosure record, and no card’s facts depend on one.

A price is never carried forward and never interpolated. If the spine has no close for a security on a day a rule needs one, we do not reuse the previous day’s price and we do not estimate the missing one. That rule is what makes the figures worth reading, and it is also why some figures are absent.

Two different absences, handled differently. When a series simply ends — the company was acquired, delisted or renamed — the position is closed at that last real close and the date it happened is named beside the figure. When a session is missing while the security still trades on both sides of it, spanning that hole would be carrying a price forward, so no figure is published for that rule at all: the member is listed by name on /strategies with the reason and the exact missing date.

The gap is ours to state, and it is the vendor’s. At least one such hole is a single missing session in our vendor’s own data, not a company that stopped existing and not a day the market was shut: re-fetched directly on 2026-08-28, the security returned closes on the sessions either side of the gap, and the broad-market series we measure against has the missing day. Re-running our ingestion cannot fill it. We have not sought a second price source for it — doing so would mean reconciling two vendors’ closes, which is its own decision — so the honest statement is that the figure is absent rather than estimated, and one member’s hypothetical figure is missing for that reason.

Plain language

What these documents are

Three source documents, three sets of rules. Each is summarised below in the same four parts, including what the document does not tell you — which is usually the part that matters when a filing is read as more than it is.

What is a Form 4?

What it is: A statement an insider files with the SEC when their holding in their own company changes. It names the person, the issuer, the date of the transaction, the number of shares, and the price.
Who files it: Directors, officers, and anyone holding more than 10% of a registered class of the company's equity.
When it is due: Within two business days of the transaction, under Section 16(a) of the Securities Exchange Act.
What it does not say: It does not say why the person traded. Many sales are pre-scheduled under a Rule 10b5-1 plan adopted months earlier, and the form does not always mark them. A Form 4 records what happened, not intent.

What is a PTR?

What it is: A Periodic Transaction Report: the filing a member of Congress makes disclosing a purchase, sale or exchange of a security by themselves, a spouse, or a dependent child. Amounts are disclosed as ranges, never exact figures.
Who files it: Members of the House and Senate, and certain senior staff, under the STOCK Act.
When it is due: Within 30 days of being notified of the transaction, and no later than 45 days after it occurred.
What it does not say: It does not say who decided the trade. A filing may cover a spouse's account or a managed account, and the report does not always distinguish them. The range is the disclosure: the exact amount is not public.

How federal awards work

What it is: A record of the federal government obligating money to a contractor: the awarding agency, the recipient, the amount obligated, and the action date.
Who files it: Agencies report contract actions to FPDS, and USAspending.gov republishes them. The contractor does not file it.
When it is due: Agencies report contract actions within three business days, though modifications and corrections continue to arrive afterwards.
What it does not say: An obligation is not revenue and not a payment. One award may be modified many times, and the parent company of a named recipient is not always the entity listed.

Citing a card

How to cite a disclosure

Every card has a permanent address that survives corrections: an amended filing publishes a new card and the original stays where it was, marked superseded. Cite a card in this form:

Desq Long. "<headline>." Disclosed <YYYY-MM-DD>. <permalink> (retrieved <YYYY-MM-DD>).

The retrieval date is the date this lane’s data was last ingested — printed on the card itself and in the footer — rather than the date you are reading it, so two people citing the same card on different days quote the same source state. The address is the card’s permalink, which is also the identifier its RSS entry carries.