Dan Koh, the Andover Democrat and former Select Board member running for the 6th Congressional District seat, reported household assets between $3.9 million and $13.4 million by the time he left his White House job in January 2025, according to federal ethics filings first reported by the Eagle-Tribune. That range includes his wife's income and assets, a family trust and real estate holdings spanning nine states.

His White House salary was $155,000 a year.

Koh made nearly 60 reported trades in 2023 in funds and securities tied to AI, semiconductors and clean energy while serving as Deputy Cabinet Secretary, his U.S. Office of Government Ethics disclosures show. His office handled messaging and scheduling for the Biden administration, not policy.

One purchase stands out in the filings. A few months after Biden signed Executive Order 14110 promoting AI development on Oct. 30, 2023, Koh bought between $15,000 and $50,000 in shares of Global X Future Analytics Tech ETF, an exchange-traded fund tied to the AI and high-tech industry. Over the next year and a half, the fund's price nearly doubled, according to the Eagle-Tribune's review of SEC records.

Koh also held cryptocurrency investments during his White House tenure, including $50,001 to $100,000 worth of Solana, which saw its value increase by approximately 700% during the two periods covered by his financial disclosures.

His family trust, active since 1997, also grew. His termination report from the Biden administration showed the trust's investments ranging from $200,000 to $450,000, which the Eagle-Tribune characterized as a sizable increase from when he took the job in August 2022.

The disclosures show no evidence of insider trading or improper dealings. Koh filed all required paperwork and complied with federal ethics law.

Campaign manager Olivia Brandon responded to the report in a statement to the Eagle-Tribune on Aug. 3.

"Dan did not buy or sell any individual stocks while serving in the White House. Not one single stock, as publicly disclosed from his personal financial disclosures," Brandon said.

Brandon said Koh proactively sold all individual stock and transferred investments into ETFs and mutual funds managed by an outside financial advisor under guidance from the White House Ethics Office. When Koh first took the job in August 2022, ethics officials flagged some holdings for a possible conflict of interest, and he divested, including selling approximately 250,000 shares in HqO, Inc., a technology startup where he had previously worked.

The campaign also noted the broader stock market grew more than 50% during Koh's two years in government.

Koh has said he favors a ban on congressional stock trading and would vote for such a measure if elected. Brandon said he will "fight relentlessly to ban individual stock trading by members of Congress."

The issue has become a flashpoint in the parallel U.S. Senate Democratic primary, where Sen. Ed Markey has accused Rep. Seth Moulton of leveraging his Armed Services Committee seat to access private equity investments unavailable to average investors. Moulton currently holds the 6th District seat Koh is seeking.

Koh is one of six Democrats in the Sept. 1 primary. The others are Bethany Andres-Beck of Middleton, John Beccia of Lynnfield, Jamie Zahlaway Belsito of Topsfield, Mariah Lancaster of Salem and Tram Nguyen of Andover. As we reported Aug. 5, endorsements have been rolling in across the field. Koh holds the largest war chest in the race, with approximately $3.6 million cash on hand out of $4.5 million raised this cycle.

The voter registration deadline is Aug. 22. Early in-person voting runs Aug. 22 through Aug. 28. Polls on primary day open 7 a.m. to 8 p.m.