Kevin Hern's 99-trade filing shows a broad exit from energy into tax-free bonds
As seen on the 24/7 Wall St. homepage on September 25, 2026.
- AAPL Apple Inc. - Common Stock (AAPL)Partial sell$1K – $15K
- AAPL Apple Inc. - Common Stock (AAPL)Partial sell$1K – $15K
- ARBUCKLE MEM HOSP AUTH OKLA SALES TAX 03.00000% 01/01/2027 REV BDS SER. 2018Buy$15K – $50K
- BSX Boston Scientific Corporation Common Stock (BSX)Partial sell$50K – $100K
- BSX Boston Scientific Corporation Common Stock (BSX)Sell$1K – $15K
- BSX Boston Scientific Corporation Common Stock (BSX)Sell$1K – $15K
- BSX Boston Scientific Corporation Common Stock (BSX)Sell$1K – $15K
- BSX Boston Scientific Corporation Common Stock (BSX)Sell$50K – $100K
Hern's 99-trade filing is a near-wholesale exit from energy and industrials, with Devon Energy sold down in three separate blocks of $100,001 to $250,000 and a same-size Exxon trim, while the only buys are Oklahoma municipal bonds and defensive names like Coca-Cola and Chubb. A House Republican rotating out of oil into tax-free paper is worth noting as his own party campaigns on a trading ban.
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The sheer scale of the filing stands out before you even look at the individual names. Ninety-nine trades reported on a single disclosure, filed September 25 after a 29-day lag, is an unusually heavy burst of activity for a single House member in a compressed window.
The selling is concentrated where you would expect it to sting most in the current political climate: energy and industrials. Devon Energy was trimmed in three separate blocks, each in the $100,001 to $250,000 range, and Exxon received a same-size cut. Spreading large sales across multiple transactions is a common way to manage execution, but it also makes the aggregate size of the exit easy to understate at first glance.
The buying side tells its own story. The only meaningful purchases disclosed are Oklahoma municipal bonds, including an Arbuckle Memorial Hospital Authority revenue bond maturing January 2027, plus defensive equity names like Coca-Cola and Chubb. Rotating out of volatile commodity producers and into tax-exempt paper and consumer staples is a classically defensive posture, whatever the motivation.
The political backdrop sharpens the picture. Hern is a House Republican, and his party has been actively campaigning on legislation to restrict or ban congressional stock trading. A 99-trade disclosure that includes large energy liquidations filed while that debate is live is the kind of filing that tends to draw attention from both watchdog groups and rival campaigns. The trades occurred in early September; the disclosure arrived at the end of the month.