Week of 2026-07-21

Six executive-branch trades surfaced this week — all purchases, no sales — with Federal Highway Administration chief Sean McMaster accounting for five of them across a Technology-heavy buying cluster that carried one potential conflict flag.

The Big Picture

This week's batch is small and concentrated. Sean McMaster, who heads the Federal Highway Administration within the Department of Transportation, disclosed five purchases made in mid-May, spanning specialty glass, semiconductors, cybersecurity, energy storage, and an industrial-sector power company. Michael Kratsios, director of the White House Office of Science and Technology Policy, disclosed a single purchase of a diversified bond fund during the same period. All trades fell within the STOCK Act's 45-day disclosure window.

This Week's Notable Trades

Sean McMaster, Administrator, Federal Highway Administration (Department of Transportation)

• Bought a $50,001–$100,000 position in Corning, Inc. (GLW) on May 13, 2026 — the largest single trade in this batch; Corning is a specialty glass and optical-fiber manufacturer with growing exposure to broadband and 5G infrastructure deployment.
• Bought a $15,001–$50,000 position in Akamai Technologies, Inc. (AKAM) on May 13, 2026 — Akamai delivers cloud services and cybersecurity solutions across global networks.
• Bought a $15,001–$50,000 position in QUALCOMM, Inc. (QCOM) on May 13, 2026 — Qualcomm designs semiconductors and wireless technology products used broadly in automotive systems and mobile devices.
• Bought a $15,001–$50,000 position in Fluence Energy Inc. Class A Common Stock (FLNC) on May 13, 2026 — Fluence develops and installs utility-scale energy storage systems.
• Bought a $15,001–$50,000 position in Forgent Power Solution (FPS) on May 14, 2026 — an Industrials-sector company in the energy and power infrastructure space.
• Potential conflict: McMaster leads the Federal Highway Administration, which oversees surface transportation policy, highway funding, and infrastructure programs. Forgent Power Solution operates in the Industrials sector — a category that includes energy and power infrastructure systems with direct applications in transportation. This creates a potential overlap between his agency's jurisdiction and the company's business area.

Michael J Kratsios, Director (Office of Science and Technology Policy)

• Bought a $1,001–$15,000 position in the iShares iBoxx $ Investment Grade Corporate Bond ETF (LQD) on May 14, 2026 — a broadly diversified fund holding investment-grade corporate bonds, with no sector-specific concentration.

By the Numbers

• Total trades disclosed: 6
• Buys: 6 | Sells: 0
• Most active official: Sean McMaster (5 trades)
• Most active agency: Department of Transportation (5 trades); Office of Science and Technology Policy (1 trade)
• Top sectors purchased: Technology (3 trades), Industrials (1 trade)
• Potential conflicts flagged: 1
• Late filings this batch: 0

Notable potential conflict: Sean McMaster (Federal Highway Administration) disclosed a purchase of Forgent Power Solution (FPS), an Industrials-sector power infrastructure company, while overseeing surface transportation policy and highway infrastructure at the Department of Transportation.

Late to File

No late filings were recorded in this batch. All six trades were disclosed within the STOCK Act's required 45-day window.

All-time: Across executive-branch periodic transaction reports on file, 88.2% of 31,050 total reports have been filed late — a structural pattern rather than an anomaly. The officials with the highest all-time late-filing counts are Donald J. Trump (21,795), Mitchell M. Zais (284), Nuria Fernandez (278), Gina M. Raimondo (206), and Eric S. Lander (203). Late filings are a disclosure-timing issue; they do not indicate wrongdoing.

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.