Executive Edition
Week of 2026-05-24
Thirty trades by two executive-branch officials surfaced this week, dominated by a multi-transaction sell-off of a regional airline's stock by the nation's top aviation regulator.
The Big Picture
The standout disclosure this week is Bryan Bedford, the Federal Aviation Administration's administrator, who reported selling shares in Republic Airways Holdings across eight separate transactions spanning February 13 to February 20. One of those sales alone was valued between $5 million and $25 million. On the other side of the ledger, Arjun Mody, Deputy Commissioner of the Social Security Administration, disclosed a broad portfolio rebalancing — trimming individual stocks and sector funds in late January and early February, then consolidating into broadly diversified Vanguard index funds.
This Week's Notable Trades
Bryan Bedford, FAA Administrator (Department of Transportation)
- Disclosed a sale of a $5,000,001–$25,000,000 position in Republic Airways Holdings Inc. (RJET) on Feb. 20, 2026 — the largest single transaction in this week's batch by a wide margin.
- Disclosed six additional sales of Republic Airways Holdings Inc. (RJET) between Feb. 13 and Feb. 20, with individual transactions ranging from $1,001–$15,000 to $100,001–$250,000, suggesting a methodical wind-down of a large holding across multiple days.
- Potential conflict: Bedford leads the FAA, the federal agency responsible for airline safety regulation, operating certificates, and compliance oversight. Republic Airways is a regional carrier whose operations fall directly under FAA authority. An FAA Administrator's regulatory decisions can materially affect the business prospects of airlines such as Republic Airways.
Arjun Mody, Deputy Commissioner (Social Security Administration)
- Sold $1,001–$15,000 positions in Salesforce, Inc. (CRM), eBay, Inc. (EBAY), Xcel Energy, Inc. (XEL), and Workiva, Inc. (WK) on Jan. 30, 2026, trimming a mix of technology and utility holdings.
- Sold positions in the iShares Russell 2000 ETF (IWM), iShares Core S&P US Value ETF (IUSV), iShares Core S&P US Growth ETF (IUSG), and Vanguard Developed Markets Index Fund ETF Shares (VEA) on Feb. 2, each in the $1,001–$15,000 range, as part of the same rebalancing.
- Bought positions in the Vanguard Total Stock Market Index Fund ETF (VTI) and Vanguard Growth Index Fund ETF (VUG) on Feb. 2, and added Vanguard Total International Stock Index Fund ETF (VXUS), Vanguard Information Technology Index Fund ETF (VGT), and Vanguard Emerging Markets Stock Index Fund ETF (VWO) on Feb. 3, with individual purchases in the $1,001–$50,000 range — consolidating into broad, low-cost index funds. No conflict flags were raised on any of Mody's trades.
By the Numbers
- Total trades disclosed: 30
- Buys: 10 | Sells: 20
- Most active official: Arjun Mody, SSA Deputy Commissioner — 22 transactions
- Most active agencies: Social Security Administration (22 trades); Department of Transportation (8 trades)
- Top security sold: Republic Airways Holdings Inc. (RJET) — 8 transactions, all by one official
- Top sector sold: Industrials — 8 trades (all RJET)
- Potential conflicts flagged: 8
- Late filings: None
Notable potential conflicts this week:
- Bryan Bedford (FAA Administrator, Department of Transportation) disclosed sales totaling up to $25 million-plus in Republic Airways Holdings (RJET), an airline carrier regulated directly by his agency.
The Fine Print
Data derived from public STOCK Act disclosures. Disclosure date is not the trade date (filings lag 30-45 days). Dollar figures are disclosed ranges, not exact amounts. Conflict-of-interest flags are heuristic "potential overlaps," not assertions of wrongdoing. Not investment advice.