Official portrait: unitedstates/images (public domain; source GPO Member Guide)
Rep. Pat Fallon (R-TX)
House · Republican (most recent term) · TX-4 · in Congress 2021–present · Bioguide ID F000246
Party history: R 2021–present. Source: term data in unitedstates/congress-legislators (CC0); party shown is as recorded per term there.
Estimated net worth (from public disclosures)
| Estimate | Report year | Low | Mid | High |
|---|---|---|---|---|
| (a) Estimated net worth before entering office (report year 2020) | 2020 | $7,053,107 | $20,114,552 | $33,175,998 |
| (b) Latest net worth estimate | 2025 | $5,854,107 | $13,369,553 | $20,884,999 |
| (c) Estimated gain / loss, nominal dollars, 2020 → 2025 (5 years spanned) | 2020–2025 | −$27,321,891 | −$6,745,000 | +$13,831,892 |
Gain Low = latest Low − earliest High; Gain High = latest High − earliest Low (widest possible spread); Mid = latest Mid − earliest Mid.
Reliability flags (net worth): none for these two endpoints. Included in the recommended dollar-gain ranking.
Net worth by report year (mid; Low–High)
| Report year | Assets (mid) | Liabilities (mid) | Net worth mid | Low … High | Status / flags |
|---|---|---|---|---|---|
| 2020 | $21,264,554 | $1,150,001 | $20,114,552 | $7,053,107 … $33,175,998 | computed |
| 2021 | $22,912,056 | $1,150,001 | $21,762,056 | $9,198,113 … $34,325,998 | computed; 3 Schedule A row(s) had the upper bound of the range lost in text extraction; completed from the fixed statutory bracket |
| 2022 | $21,818,059 | $1,137,501 | $20,680,558 | $8,384,118 … $32,976,998 | computed; 1 Schedule A row(s) had the upper bound of the range lost in text extraction; completed from the fixed statutory bracket |
| 2023 | $18,586,057 | $3,387,501 | $15,198,556 | $3,230,114 … $27,166,998 | computed; 1 Schedule A row(s) had the upper bound of the range lost in text extraction; completed from the fixed statutory bracket |
| 2024 | $17,692,056 | $12,500 | $17,679,556 | $8,159,113 … $27,200,000 | computed; 1 Schedule A row(s) had the upper bound of the range lost in text extraction; completed from the fixed statutory bracket |
| 2025 | $14,119,554 | $750,000 | $13,369,553 | $5,854,107 … $20,884,999 | computed |
- What this is: Net worth = Schedule A assets (each value range at its midpoint; low–high range shown) minus Schedule D liabilities (midpoints / ranges). Low = assets at range floors minus liabilities at range ceilings; Mid = midpoints; High = assets at ceilings minus liabilities at floors. Low and High are outer bounds of the reported ranges, not likely outcomes.
- What it excludes / understates: exact values (only ranges are reported); a personal residence is not reported as an asset (although a mortgage on it may be listed as a liability, which then lowers the estimate); retirement and federal accounts (e.g. Thrift Savings Plan, defined-benefit pensions) are only partly or not reported; assets of excepted/blind trusts, cash held below reporting thresholds, vehicles, household goods and most spouse/dependent items exempt from reporting are not included; liabilities on a personal residence, revolving credit under thresholds and loans to family may be omitted by filers.
- Open-ended top ranges (e.g. “Over $50,000,000”) are counted at their lower bound and flagged, so such values are understated.
- The change is a change in estimated net worth in nominal dollars (no inflation adjustment). It includes salary, gifts, inheritances, business income and re-valuation as well as investment results, and it is subject to range-bracket noise; it is not an investment return and implies nothing about conduct.
Read this first. Members report asset values only as ranges (e.g. “$15,001 – $50,000”), never exact dollars. Every figure below is an estimate computed from range midpoints, not a measured return. Figures cannot be interpreted as investment performance, and they do not show wrongdoing or skill. Methodology and limitations are at the end and in the project README. Sources: public financial disclosure reports filed with the Clerk of the U.S. House of Representatives and/or the Secretary of the Senate (Senate eFD), linked below.
Avg. annual change (geometric, est.)+4.4%
Simple average of years+5.0%
Years estimated4
Best / worst single year2021 +23%
2024 -9%
2024 -9%
Reliability flags: few years (4); 6 unparsed value(s).
Sensitivity band for the average (all ranges at floor vs. all at ceiling, same holdings both years): +4.3% to +4.5%. This band is narrow because it moves both years together; the true uncertainty is larger — see the per-year “strict envelope” column and the limitations.
Estimated year-over-year change
Bars: midpoint estimate; whisker: same-position floor/ceiling band. Axis clipped to −100%…+150%. Years with insufficient traceable holdings are omitted.
| Year (t−1 → t) | Opening value (mid) | Closing value (mid) | Income (mid) | Buys (mid) | Sales (mid) | Est. gain | Same-position band | Strict envelope | Traced coverage | Status / flags |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020→2021 | $20,801,548 | $20,389,548 | $2,566,483 | $8,000 | $2,689,517 | +23.2% | +20.0% … +36.1% | -105% … +152% | 98% | counted |
| 2021→2022 | $21,364,549 | $20,767,050 | $2,092,832 | $48,003 | $0 | +6.8% | +0.3% … +8.7% | -108% … +122% | 96% | counted |
| 2022→2023 | $11,439,030 | $14,370,532 | $3,195,115 | $40,002 | $3,032,501 | +79.7% | +48.8% … +89.2% | -84% … +243% | 53% | excluded; not eligible: traced coverage 53% < 60% |
| 2023→2024 | $15,055,054 | $10,962,050 | $2,781,835 | $88,504 | $0 | -9.3% | -13.0% … -8.1% | -109% … +90% | 81% | counted |
| 2024→2025 | $13,889,050 | $13,580,550 | $357,832 | $137,006 | $0 | -0.6% | -0.6% … -0.6% | -105% … +104% | 80% | counted |
Filings used
Each annual-report year uses one filing (most recently filed version among originals/amendments whose Schedule A row count is ≥ 40% of the largest). Electronic (text) PDFs are parsed. Scanned/image-only filings are OCR-read and used only if they pass the explicit validation gates described in the project README (value/income coverage, two-engine agreement, exact bracket snapping, page completeness, year-to-year position continuity); such years are labelled OCR-derived below. Scanned filings that fail validation are listed as “insufficient data – scanned”.
| Report year | Doc ID | Type | Filed | Schedule A rows | Rows with unparsed value | Source (official filing) / SHA-256 |
|---|---|---|---|---|---|---|
| 2020 | 10049993 | House amendment | 7/17/2022 | 112 | 0 | 10049993.pdf08d685d37c7dfce44569b41f07664efbc2046554ac1f01b417bab18f41f3f350 |
| 2021 | 10048366 | House annual | 8/13/2022 | 127 | 3 | 10048366.pdfcaa2d2ac93e77e30c96acbeae7aec217019f3c74d5b642e083b137815b0699d5 |
| 2022 | 10052525 | House annual | 8/11/2023 | 123 | 1 | 10052525.pdf75c30d588aea942e835ad23cd22bc6a3f3be1e60ebb83369172e9e36902e50c0 |
| 2023 | 10060003 | House annual | 8/13/2024 | 116 | 1 | 10060003.pdf4ee63e385fc104ec7e8968bf02db4de1a9ddaee4e51d5cb5debcf3c3b4d532ef |
| 2024 | 10067945 | House annual | 8/13/2025 | 119 | 1 | 10067945.pdf52a88b892ac13643041612db0b877d20f7d0c65d0e2e1f6730575a957821b744 |
| 2025 | 10073345 | House annual | 8/13/2026 | 107 | 0 | 10073345.pdf5dec4f06095f9eb8f8ba2c0b4c9592eb483999cd3d470662841662a7d4b7410e |
Largest movers 2021→2022
| Position (as written in filing) | Owner | Kind | Opening range(s) | Closing range(s) | Buys (mid) | Sales (mid) |
|---|---|---|---|---|---|---|
| WF - Investment - 3 ⇒ Wells Fargo Bank [BA] | — | held | $500,001 - $1,000,000 | $1,000,001 - $5,000,000 | $0 | $0 |
| WF - Investment - 1 ⇒ NUVEEN INVT FDS INC (FSHAX) [MF] | — | held | $1,000,001 - $5,000,000 | $500,001 - $1,000,000 | $0 | $0 |
| WF - Investment - 3 ⇒ Verizon Communications Inc. (VZ) [ST] | — | held | $250,001 - $500,000 | None | $0 | $0 |
| ML - REAL INVESTMENT ⇒ BLACKSTONE REAL ESTATE INCOME TRURST CL S [HE] | — | held | $250,001 - $500,000 | $500,001 - $1,000,000 | $0 | $0 |
| ML - REAL INVESTMENT ⇒ VANGUARD REAL ESTATE ETF (VNQ) [EF] | — | held | $250,001 - $500,000 | $100,001 - $250,000 | $0 | $0 |
| WF - Investment - 3 ⇒ PayPal Holdings, Inc. (PYPL) [ST] | — | held | $250,001 - $500,000 | $100,001 - $250,000 | $0 | $0 |
| USAA - SEP IRA ⇒ USAA 500 INDEX FUND MEMBER SHARES (USSPX) [MF] | — | new | — | $100,001 - $250,000 | $8,000 | $0 |
| USAA - SEP IRA ⇒ USAA INCOME STOCK FUND SHS (USISX) [MF] | — | new | — | $100,001 - $250,000 | $8,000 | $0 |
Largest movers 2023→2024
| Position (as written in filing) | Owner | Kind | Opening range(s) | Closing range(s) | Buys (mid) | Sales (mid) |
|---|---|---|---|---|---|---|
| Fallon LLC [OL] | — | held | $1,000,001 - $5,000,000 | None | $0 | $0 |
| T-Shirt Guys LP [OL] | — | held | $500,001 - $1,000,000 | None | $0 | $0 |
| ML - REAL INVESTMENT ⇒ BLACKSTONE REAL ESTATE INCOME TRURST CL S [HE] | — | held | $500,001 - $1,000,000 | $250,001 - $500,000 | $0 | $0 |
| USAA - SEP IRA ⇒ Victory 500 Index Fund Member Shares (USSPX) [MF] | — | held | $100,001 - $250,000 | $250,001 - $500,000 | $8,000 | $0 |
| Scouts Out [OL] | — | held | $100,001 - $250,000 | None | $0 | $0 |
| WF - Investment - 2 ⇒ Wells Fargo Bank - CASH [BA] | — | held | $100,001 - $250,000 | $1,001 - $15,000 | $0 | $0 |
| WF - Investment - 3 ⇒ Boeing Company (BA) [ST] | — | held | $100,001 - $250,000 | $50,001 - $100,000 | $0 | $0 |
| WF - Investment - 3 ⇒ Walt Disney Company (DIS) [ST] | — | held | $50,001 - $100,000 | $100,001 - $250,000 | $0 | $0 |
Largest movers 2024→2025
| Position (as written in filing) | Owner | Kind | Opening range(s) | Closing range(s) | Buys (mid) | Sales (mid) |
|---|---|---|---|---|---|---|
| ML - KKR INVESTMENT ⇒ BLUE OWL TECHNOLOGY [HE] | — | held | $500,001 - $1,000,000 | $250,001 - $500,000 | $0 | $0 |
| WF - Investment - 3 ⇒ FIMM Treasury Portfolio: Institutional Class (FRBXX) [MF] | — | held | $250,001 - $500,000 | $50,001 - $100,000 | $0 | $0 |
| ML - KKR INVESTMENT ⇒ BANK OF AMERICA - CASH [BA] | — | held | $100,001 - $250,000 | $250,001 - $500,000 | $0 | $0 |
| WF - Investment - 1 ⇒ FRISCO TX FOR ISSUES B/E CPN 3.125% DUE 02/15/35 (358776QB1) [GS] | — | held | $15,001 - $50,000 | $50,001 - $100,000 | $0 | $0 |
| ML - KKR INVESTMENT ⇒ KKR DIRECT LENDING III [HE] | — | held | $50,001 - $100,000 | $15,001 - $50,000 | $0 | $0 |
| WF - Investment - 1 ⇒ LITTLE ELM TX RFDG G/O Due 8/1/33 3.125% (537095TC5) [GS] | — | held | $15,001 - $50,000 | $50,001 - $100,000 | $0 | $0 |
| ML - GMAS INVESTMENT ⇒ Vanguard FTSEEuropean ETF (VGK) [EF] | — | held | $15,001 - $50,000 | $50,001 - $100,000 | $0 | $0 |
| USAA - SEP IRA ⇒ Victory International Fund Shares (USIFX) [MF] | — | held | $100,001 - $250,000 | $100,001 - $250,000 | $40,501 | $0 |
Method (summary)
- Schedule A asset rows are read from each annual report; the dollar range for each row is converted to its midpoint. Open-ended top ranges (“Over $50,000,000”) are excluded from the traced set and counted as a coverage loss.
- Positions are matched year to year by owner code (self/SP/DC/JT) + normalised asset name. A position that appears only in year t is included only if Schedule B shows a purchase of it in year t (opening value 0); a position that disappears is included only if Schedule B shows a sale (closing value 0). Otherwise it is excluded as unexplained.
- Estimated gain = (closing − opening + reported income − purchases + sale proceeds) ÷ opening, all at midpoints, for the traced positions. “Capital gains” income is not added again (it is already in value change and sale proceeds).
- A year counts only if traced opening value ≥ $50,000 and traced coverage ≥ 60% of the opening midpoint. A member is ranked only with ≥ 3 such years (exactly 2 = “limited data”, shown but unranked). Average = geometric mean of (1+yearly estimate).
Limitations
- Ranges are wide (up to a factor of 5 or more, and up to $50M+ open-ended); a holding can move between ranges without any real change in value, and stay in a range while moving materially. Yearly estimates are therefore noisy; the “strict envelope” shows the mathematical worst/best case and is typically wider than ±100%.
- Purchases and sales are only disclosed as ranges and only for transactions over $1,000; partial sales, dividend reinvestment, spousal/dependent accounts and retirement-plan funds are reported inconsistently. Excepted/blind trusts, personal residences and certain pensions are not reported at all.
- Filers sometimes change how they list assets (e.g. listing a brokerage account vs. its individual holdings), which can make positions untraceable across years; these are excluded rather than guessed.
- Asset values in an annual report are as of Dec 31 of the reporting year; the report year t−1→t covers that calendar year. Late or amended filings are used when filed; extensions can delay them.
- The text of these reports is machine-parsed from PDFs; parse errors are possible. Every number links back to the cited filing. This is not investment advice.
- Use of these filings is restricted by 5 U.S.C. § 105(c) (no unlawful, commercial or credit-rating purpose, and none for solicitation of money).
Generated 2026-10-01 by an automated pipeline. Data: Office of the Clerk, U.S. House of Representatives (disclosures-clerk.house.gov); member roster: unitedstates/congress-legislators (CC0).