McCormick wants the US to divest from China. As a hedge fund manager, he oversaw investments in Chinese companies

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In Republican David McCormick’s second bid for US Senate in Pennsylvania, he has rebranded himself as a Trumpian-hardliner on China, sounding the warning bells on US economic ties with China.

However, as the head of the world’s largest hedge fund, McCormick oversaw massive investments into US exchange traded Chinese companies and holdings, according to a CNN KFile review of the hedge fund’s holdings. “We need to stop investing in China, and I know something about investing, put restrictions on portfolio investment or direct investment that aids the CCP or the Chinese military,” McCormick said on Hugh Hewitt’s podcast earlier this month.

” McCormick faced fierce criticism over his ties to China when he ran for the Republican nomination in 2022. He lost the primary to Republican Dr. Mehmet Oz by fewer than a thousand votes. Oz lost to Democrat John Fetterman, the state’s former lieutenant governor. McCormick’s hedge fund also held an additional $779 million indirectly in Chinese companies through their investments in exchange traded funds.

 

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