Mikie Sherrill has made millions in Congress, Save Jerseyans, and her formidable net worth (about three-times what it was in 2019) was fueled by hundreds of stock trades. Some of those stock trades transpired during the Covid-19 pandemic while she served on the House Armed Services Committee.
So when Sherrill announced her since-widely panned “plan” to freeze electric bills, last week, anyone who knows anything about the Democrat gubernatorial nominee’s finances raised an eyebrow or two.
The campaign of Republican candidate Jack Ciattarelli was quick to point out the utility-linked stock funds listed on Sherrill’s own congressional disclosures, specifically her Financial Disclosure Report filed with Congress on August 13, 2025 and her Personal Financial Disclosure Statement filed with the New Jersey Election Law Enforcement Commission (NJ ELEC) back in Marchj:
The Utilities Select Sector SPDR Fund (XLU) is a popular exchange-traded fund (ETF) that offers investors exposure to the US utilities sector. This sector is known for its relatively low volatility and attractive dividend yields. Holdings: The ETF is primarily composed of stocks from companies in the utilities sector, including electric, multi-utility, independent power, water, and gas utilities. Top Holdings (as of August 18, 2025): NextEra Energy Inc., Constellation Energy Corp., Southern Co., Duke Energy Corp., Vistra Corp., American Electric Power Co., Inc., Sempra, Dominion Energy Inc., Exelon Corp., First Energy, Corp., and Public Service Enterprise Group Inc., of which Public Service Electric and Gas is a subsidiary.
The Energy Select Sector SPDR Fund (XLE) is a popular exchange-traded fund (ETF) that aims to replicate the performance of the Energy Select Sector Index. This index is composed of US energy companies that are part of the S&P 500. Investment focus: XLE invests in large-cap US energy stocks, including companies involved in oil and natural gas development and production, and those providing energy-related services like drilling.
Vanguard Utilities ETF (VPU), which includes FirstEnergy Corp (FE) and Public Service Enterprise Group Inc. (PEG), of which Public Service Electric and Gas is a subsidiary, are both included in this fund.
Yes: Sherrill profited from the same utility companies whose rates she’d have you believe she’d like to freeze!
Does her pledge sound credible to you?
“Now, just 75 days from the election – with angry residents suffocating under the rising costs of electricity in New Jersey due to one-party Democrat control in Trenton – Mikie is trying to gaslight people into believing she had nothing to do with it. Total BS and outs her as a total phony and liar,” said Ciattarelli. “Moreover, while Sherrill now seeks to attack utility companies and obscure non-profits for skyrocketing rates, she should explain how that squares with her and her husband investing their significant wealth in those very companies as part of tripling their net worth while Mikie served in Congress and violated federal law designed to combat insider trading and improve transparency.”
