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    GOP Senator On Armed Services Committee Buys This Defense Stock In Potential Conflict Of Interest

    Benzinga·06/12/2025 15:38:37
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    Recent stock trades made by a senator could show conflicts of interest given his committee assignments and ramp up the call to ban members of Congress from being able to buy and sell stocks.

    Here's a look at the recent stock trades made by Senator Markwayne Mullin (R-Okla.).

    What Happened: Mullin recently bought stock in several stocks, while also selling a position in the SPDR S&P 500 ETF Trust (NYSE:SPY), which tracks the S&P 500. The trades are shown on the Benzinga Government Trades page.

    According to a recent disclosure, Mullin bought the following stocks on May 13:

    • Adobe Inc (NASDAQ:ADBE): $15,000 to $50,000
    • Applied Materials Inc (NASDAQ:AMAT): $15,000 to $50,000
    • CSX Corporation (NASDAQ:CSX): $15,000 to $50,000
    • Chevron Corporation (NYSE:CVX): $50,000 to $100,000
    • ConocoPhillips (NYSE:COP): $15,000 to $50,000
    • LPL Financial Holdings (NASDAQ:LPLA): $15,000 to $50,000
    • L3 Harris Technologies (NYSE:LHX): $15,000 to $50,000
    • Lam Research Corporation (NASDAQ:LRCX): $15,000 to $50,000
    • Texas Instruments (NASDAQ:TXN): $15,000 to $50,000
    • Thermo Fisher Scientific (NYSE:TMO): $15,000 to $50,000
    • Valero Energy Corporation (NYSE:VLO): $50,000 to $100,000
    • Zoetis (NYSE:ZTS): $50,000 to $100,000

    In the same disclosure, Mullin also reported selling $500,000 to $1 million worth of SPDR S&P 500 ETF Trust.

    He reportedly bought between $285,000 and $750,000 in new stock positions, along with total transactions ranging from $785,000 to $1.75 million.

    One of the most active stock traders in the Senate, Benzinga shows 325 trades worth $8.47 million, and Quiver Quant shows $15.5 million in trades from Mullin in recent years.

    His net worth is listed by Quiver Quant at $65.7 million, with part of the wealth coming from selling businesses before becoming a Congressman from 2013 to 2023 and later a Senator since 2023.

    The Senator's purchase of L3 Harris Technologies could raise red flags, given that it is a large defense stock and Mullin sits on the Committee on Armed Services.

    The purchase of oil stocks also involves Mullin, who belongs to the Subcommittee on the Department of Interior, Environment, and Related Agencies.

    The Republican senator is on numerous committees and could have inside information about government policy and contracts while making his stock transactions.

    Mullin denied past conflicts of interest when he owned shares of Meta Platforms (NASDAQ:META) and was set to vote on a potential TikTok ban, which could help Meta.

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    Why It's Important: Mullin's latest trades come as a call to ban members of Congress from buying and selling stocks and options is gaining support.

    Sen. Josh Hawley (R-Mo.) introduced the Preventing Elected Leaders from Owning Securities and Investments Act, or PELOSI Act, based on the first letter of each of the main words. The name takes aim at Congresswoman and former Speaker of the House Nancy Pelosi (D-Calif.).

    Pelosi, whose husband is a frequent stock trader and venture capitalist, likely doesn’t support the bill that would limit her husband's transactions while she’s in office.

    Speaker of the House Mike Johnson (R-La.), also in favor of a ban, said there is zero tolerance for “anything resembling insider trading.”

    President Donald Trump recently said he would support such a ban and that he would sign the bill if Congress passed it

    "Well, I watched Nancy Pelosi get rich through insider information, and I would be okay with it. If they send it to me, I would do it," Trump told TIME.

    Benzinga recently polled readers to see where they stand on a potential ban on Congress trading.

    “Should members of Congress be allowed to buy and sell stocks, options and ETFs?” Benzinga asked.

    These were the results:

    • They should not be allowed to trade stocks, options or ETFs: 43%
    • They should be allowed to trade as long as they report within 24 hours: 24%
    • They should only be allowed to trade ETFs and mutual funds: 14%
    • They should be allowed to trade as long as they report in 45 days: 11%
    • They should only be allowed to trade stocks: 8%

    The poll found that 43% of readers support an outright ban on members of Congress being able to trade stocks, options, or ETFs. Eleven percent voted that the current rules should be left alone with a 45-day disclosure window.

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    Photo: Shutterstock