Stephen I Miran

Former officialDeparted May 22, 2026Member, Board of Governors · Board of Governors of the Federal Reserve System

Miran reported 70 sales (est. $6.3M) and 7 purchases (est. $1.7M).

This summary was written before filings added on Sept. 6, 2026, including rows read from the annual or termination report, and has not yet been updated. The table below is current.

89trades(of which 12 from the termination report)

76sales

13purchases

~$10.0Mtrade volume (est.)

2trades/week avg

57trades on June 9, 2025

March 5, 2025 – April 23, 2026

Last filing: Aug. 26, 2026|Transactions: March 5, 2025 – April 23, 2026

This total aggregates every source filing listed below. Public trackers focused on a single disclosure may report smaller counts for the same official.

Trade-value totals (e.g. on the dashboard) sum the midpoints of OGE disclosure ranges, not exact amounts. Federal law requires only ranges. Treat all dollar estimates as range midpoints.

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Trades by month

Click any month to zoom in. Sales above midline, purchases below. Amber tick = month with late-filed trades.

Sales Purchases Months with late-filed 278-T tradesBars include trades read from the annual report; hover a month for its shareBar height scales with the square root of monthly trades, so busy months stay readable

Rows are extracted from OGE filings by automated parsing (Claude PDF reading, PDF-parser and OCR cross-checks) and reviewed by a mix of software and human checks; the status on each row says which. Open the source PDF to confirm any row, and tell us if something is wrong. How rows are checked.

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89 trades

Date	Description	Ticker	Type	Amount	Late	Disclosed	Source
April 23, 2026	BBH Wealth Strategies, LLC - BBH Capital Partners VII, L.P.Private holdingNot found on any posted 278-T^*1 Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #7	—	Purchase	$15K-$50K

Source documents

Reviewed financial disclosure documents the Office of Government Ethics has published or recorded for Stephen I. Miran. Open Cabinet summarizes listed documents observationally and links to the source PDF where one is publicly available. We do not issue compliance verdicts — that is OGE’s role, not ours.

Document timeline

Nominee 278

In the News

Published reporting on Stephen I Miran's financial disclosures from major outlets.

AI-assisted search across major outlets.

Stephen Miran Appointed as Chairman of the Council of Economic Advisers

INOMICS · Jan. 20, 2025

Miran divested 57 individual stock positions in a single day upon taking office, then traded S&P 500 futures and Fannie Mae stock while at CEA.

Source filings

Original PDFs from the U.S. Office of Government Ethics. These are the documents Open Cabinet parses.

Stephen-I-Miran-2026-278ANNTERM2026-08-26PDF Stephen-I-Miran-04.03.2026-278T2026-04-25PDF 278-T2025-12-31PDF 278-T2025-09-06PDF

Source: U.S. Office of Government Ethics, 278-T Periodic Transaction Report and termination report (OGE Form 278e, Part 7). Asset values and transaction amounts are reported in ranges as required by federal law. View original filings

Termination Report (278e)Stephen-I-Miran-2026-278ANNTERM· filed Aug. 26, 2026
Part 7 of this report lists transactions over $1,000 for the reporting period. Rows found there and on no 278-T OGE had posted are tagged in the trade table above.
OGE record
278-T Periodic Transaction Report278 Transaction· filed April 25, 2026
278-T signed 04/03/2026 and OGE-certified 04/21/2026. Discloses seven transactions between 01/20/2026 and 03/02/2026 within BBH Wealth Strategies LLC, including a Silver Point Distressed Opportunity II Series capital call purchase and multiple Clarkston Capital Partners Small/Mid Cap Series sales plus a BBH Limited Duration Fund Cl I sale. Endnotes mark sales 2-5 as manager-initiated redemptions because the strategy is being wound down, not transactions initiated by Miran. All marked No on the 30-day notification flag.
OGE record
Compliance CertificationCertification of Ethics Agreement Compliance· filed April 18, 2026
Ethics Agreement Compliance Certification digitally signed 09/27/2025 (note: signed before due date 12/23/2025; OGE intake date is 04/18/2026). Lists ethics agreement signed 09/02/2025, confirmed 09/15/2025. Marks N/A on resignations, divestitures, and 278-T filing rows. Marks Yes on managed accounts notification, both recusal categories, initial ethics briefing, and additional ethics requirements. Section 10 cites 12 U.S.C. Sections 244 and 620 banking-stock prohibition and notes SM Consulting 1 LLC will remain dormant during appointment.
OGE record
278-T Periodic Transaction Report278 Transaction· filed Dec. 31, 2025
278-T signed 12/03/2025 and OGE-certified 12/30/2025. Discloses one transaction: a purchase of iShares S&P 500 Index Fund (IVV) on 11/14/2025 in the $500,001-$1,000,000 range, marked No on the 30-day notification flag.
OGE record
278-T Periodic Transaction Report278 Transaction· filed Sept. 6, 2025
Large 278-T signed 07/21/2025 and OGE-certified 09/02/2025 covering Miran's CEA-era divestitures. Discloses 69 transactions: 57 individual-stock sales executed 06/09/2025 (Abbott, Adobe, Alphabet, Amazon, Berkshire Hathaway, Eli Lilly, Microsoft, Mastercard, Oracle, S&P Global, Costco, etc.), plus ETF sales/purchases (XLF, IYT, SHYD, TLT) and S&P 500 futures and options opened in March and closed in May. All rows marked No on the 30-day notification flag, with totals reaching the $100,001-$250,000 and $250,001-$500,000 ranges for several positions.
OGE record
Ethics AgreementEthics Agreement· filed Sept. 5, 2025
Ethics agreement letter to Federal Reserve DAEO Sean D. Croston dated 09/02/2025. Records that Miran resigned from Hudson Bay Capital Management LP effective 02/21/2025 (received 2024 bonus same date); resigned from Manhattan Institute for Policy Research effective 02/21/2025; and that SM Consulting 1 LLC ceased business in February 2025 and will remain dormant. Section 5 cites the 12 U.S.C. banking-stock prohibition applicable to Federal Reserve governors.
OGE record
Nominee 278Nominee 278· filed Sept. 5, 2025
Nominee 278e signed 08/20/2025 and OGE-certified 09/03/2025. Lists Miran's prior positions including Hudson Bay Capital Management LP (Senior strategist 2/2024-2/2025, $1,609,182 salary/bonus), Manhattan Institute (Fellow), Amberwave Partners (Co-founder, 8/2021-12/2023), and Balyasny Asset Management (consultant). Discloses brokerage holdings (TLT ETF, PIMCO PFIAX in HBC 401(k)), Roth IRA, spouse's employment with ECPI University ($457,954 ordinary income) and Advanced Tech Institute LLC, plus other assets including Fidelity SPAXX, Fannie Mae, XLF, Cytokinetics, and Enovix.
OGE record
Compliance CertificationCertification of Ethics Agreement Compliance· filed June 12, 2025
Ethics Agreement Compliance Certification signed 06/10/2025 for Miran's earlier role as CEA Chairman. Lists ethics agreement signed 02/26/2025, confirmed 03/12/2025, certification due 06/17/2025. Marks Yes on resignations and divestitures and No on the 278-T row, with the comments box stating the 278-T to reflect divestitures will be filed within the required timeframe. Section 8 box marks that an annual bonus from previous employer Hudson Bay Capital Management was received prior to assumption of duties.
OGE record

April 15, 2026	BBH Wealth Strategies, LLC - CLARKSTON CAPITAL PARTNERS SMALL/MID CAP SERIESPrivate holdingNot found on any posted 278-T^*2 Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #6	—	Sale	$15K-$50K	—	Aug. 26, 2026133d	Termination · p.20 · #6
Page 20, row 6, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.

April 15, 2026	BBH Wealth Strategies, LLC - SELECT EQUITY SERIESPrivate holdingNot found on any posted 278-T^*2 Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #5	—	Sale	$50K-$100K	—	Aug. 26, 2026133d	Termination · p.20 · #5
Page 20, row 5, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.

April 2, 2026	BBH Wealth Strategies, LLC - SELECT EQUITY SERIESPrivate holdingNot found on any posted 278-T^*2 Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #4	—	Sale	$500K-$1M	—	Aug. 26, 2026146d	Termination · p.20 · #4
Page 20, row 4, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.

March 31, 2026	BBH Wealth Strategies, LLC - CLARKSTON CAPITAL PARTNERS SMALL/MID CAP SERIESPrivate holdingNot found on any posted 278-T^*2 Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #2	—	Sale	$15K-$50K	—	Aug. 26, 2026148d	Termination · p.20 · #2
Page 20, row 2, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.

March 31, 2026	BBH Wealth Strategies, LLC - SELECT EQUITY SERIESPrivate holdingNot found on any posted 278-T^*2 Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #3	—	Sale	$500K-$1M	—	Aug. 26, 2026148d	Termination · p.20 · #3
Page 20, row 3, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.

March 20, 2026	BBH Wealth Strategies, LLC - CLARKSTON CAPITAL PARTNERS SMALL/MID CAP SERIESPrivate holdingNot found on any posted 278-T^*2 Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #1	—	Sale	$100K-$250K	—	Aug. 26, 2026159d	Termination · p.20 · #1
Page 20, row 1, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.

March 2, 2026	ISHARES S&P 500 INDEX FUND - IVVETFNot found on any posted 278-T Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #9	—	Purchase	$15K-$50K	—	Aug. 26, 2026177d	Termination · p.20 · #9
Page 20, row 9, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.

Feb. 3, 2026	ISHARES CORE MSCI EAFE ETFETFNot found on any posted 278-T Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #11	—	Purchase	$15K-$50K	—	Aug. 26, 2026204d	Termination · p.20 · #11
Page 20, row 11, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.

Feb. 3, 2026	ISHARES RUSSELL 2000 FUND - IWMETFNot found on any posted 278-T Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #8	—	Purchase	$15K-$50K	—	Aug. 26, 2026204d	Termination · p.20 · #8
Page 20, row 8, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.

Feb. 2, 2026	ISHARES S&P 500 INDEX FUND - IVVETFNot found on any posted 278-T Checked A PDF parser and an AI model each read this report and agreed on this row, and a row-by-row check found it on its PDF page. Evidence Termination · p.20 · #10	—	Purchase	$15K-$50K	—	Aug. 26, 2026205d	Termination · p.20 · #10
Page 20, row 10, cropped from the OGE PDF at 2x. Tap the image to open the report at that page.