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Capitol View®
Brian Bakst

Sen. Smith has net worth of at least $5 million

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The first full financial disclosure form filed by U.S. Sen. Tina Smith shed light on a vast portfolio of stock holdings that appraise her family’s assets of at least $5 million and possibly near $12 million.

The required report was filed Thursday with a Senate office that maintains disclosure materials. Smith, a DFLer who was appointed in January to replace Sen. Al Franken upon his resignation, also listed liabilities of $850,000 to $1.75 million, attributed to mortgage and home equity loans.

It’s difficult to pinpoint Smith’s precise worth because filers are allowed to list the value of holdings in wide ranges. But the report lists in detail which mutual funds, stocks and hedge fund securities she has with her husband, Archie. He is an investor with a focus on medical industry stocks. 

Smith’s report reflects that emphasis, with med-tech companies throughout: Medtronic, Cogenix, Insulet, Boston Scientific and more. The Smiths also own stocks in U.S. Bancorp and TCF Financial, which are only some of the family’s financial sector holdings.

Smith is Minnesota’s former lieutenant governor, which entitles her to a future defined contribution pension.

Smith’s liabilities include mortgages in 2011 and 2014 as well as a 2016 home equity line.

None of Smith’s 2018 challengers, including Republican state Sen. Karin Housley and newly declared DFL candidate Richard Painter, have filed their first reports on their financial status. They will be required to do so in the coming weeks.