Senator Markwayne Mullin of Oklahoma, known for his close alignment with President Donald Trump, initiated a series of stock purchases at the start of 2026, signaling a notable adjustment in his investment approach. Contrary to his recent acquisitions within the dominant "Magnificent Seven" technology giants, Mullin's latest portfolio additions predominantly include smaller publicly traded companies with market capitalizations significantly below those industry leaders.
On January 5, 2026, Mullin acquired stakes in ten companies, investing amounts ranging from $15,000 to $50,000 in each, as revealed by mandatory disclosure filings. Collectively, these newly purchased stocks span a range of sectors and display a concentration toward firms with market valuations that place them primarily in the mid- to small-cap categories.
The companies Mullin invested in and their respective market capitalizations are as follows:
- Adobe Inc. (NASDAQ: ADBE): $110 billion
- Amkor Technology Inc. (NASDAQ: AMKR): $10.9 billion
- APi Group Corp. (NYSE: APG): $18.5 billion
- Citigroup Inc. (NYSE: C): $207 billion
- Carpenter Technology Corp. (NYSE: CRS): $17.4 billion
- FirstCash Holdings (NASDAQ: FCFS): $7.8 billion
- Stride Inc. (NYSE: LRN): $3.7 billion
- McKesson Corp. (NYSE: MCK): $118 billion
- Monolithic Power Systems Inc. (NASDAQ: MPWR): $55.4 billion
- VSE Corp. (NASDAQ: VSEC): $4.4 billion
Among these holdings, it is evident that the majority of companies possess market caps beneath the $20 billion mark, with two—Stride Inc. and VSE Corp.—falling under $5 billion, thereby categorizing them firmly as small-cap or lower mid-cap stocks. This contrasts with Mullin's previous transactions which emphasized large, well-recognized technology firms.
A particularly noteworthy acquisition within this group is that of VSE Corp., a provider specializing in aftermarket products and services, known for securing government contracts over the years. The company maintains a portfolio of maintenance, repair, and overhaul agreements with various government bodies. Notably, VSE signed a $565 million contract in 2023 focused on servicing Air Force aircraft.
Senator Mullin's assignments on the Senate Committee on Armed Services and several key subcommittees—including those overseeing Airland and Seapower—place him in proximity to sectors relevant to defense and government contracting. These alignments have prompted continued scrutiny regarding potential conflicts of interest, especially as VSE Corp. remains active in areas overlapping with Mullin’s legislative purview.
Benzinga will maintain close observation of any forthcoming government contract announcements from VSE Corp., assessing their implications in relation to Mullin's equity holdings.
When reviewing Mullin's earlier investment behavior, the senator disclosed significant purchases of technology stocks categorized within the so-called "Magnificent Seven" in late 2025. On December 29, 2025, he reported acquiring minimum investments of $50,000 in six companies among this group, excluding only Tesla. Microsoft Corp. was among the largest stakes purchased during that period.
Prior reports have also noted Mullin's stock trades within the defense sector, raising concerns about potential conflicts, particularly given the geopolitical situations involving possible military actions in countries such as Venezuela. These concerns are amplified considering his legislative roles associated with defense oversight.
Additionally, Mullin faced scrutiny over compliance with financial disclosure requirements. In 2025, he was cited for breaching the STOCK Act by reporting stock transactions from 2023 with a two-year delay, highlighting lapses in transparency.
In summary, Senator Mullin's trading activity illustrates a pivot from large-cap technology investments toward diversified holdings including smaller firms, some with direct government contracting ties. This shift, combined with his legislative responsibilities, continues to fuel discussions about the intersection of public service and private investment activities.