Here's a classic market dynamic: geopolitical tension rises, and defense stocks go up. It happened again Monday after the U.S. carried out attacks against Iran over the weekend. Shares of major defense contractors Lockheed Martin (LMT) and RTX Corp (RTX) didn't just go up—they hit all-time highs. Palantir Technologies (PLTR), the data analytics company deeply embedded with U.S. government and military agencies, jumped 6.5%.

The catalyst wasn't just the initial strikes. President Donald Trump added fuel to the fire, signaling that the attacks could last for "four to five weeks" and that the "big wave" attack is still to come. When the Commander-in-Chief talks about a sustained military campaign, defense contractors listen. And so do their shareholders.

Which brings us to an interesting list of shareholders: members of the United States Congress. According to public financial disclosures, several lawmakers own shares in these very companies that are rallying on the prospect of a prolonged conflict. Let's break down who owns what.

Who in Congress Owns Lockheed Martin?

Based on disclosures from 2025, these representatives reported transactions in Lockheed Martin stock and likely still hold shares. The amounts are reported in ranges, as required.

Rep. Gil Cisneros (D-Calif.) had a busy year, showing a classic buy-and-sell pattern:

• Dec. 19, 2025: Sold $1,000 to $15,000
• Nov. 18, 2025: Bought $1,000 to $15,000
• Aug. 5, 2025: Bought $1,000 to $15,000
• May 30, 2025: Sold $1,000 to $15,000
• April 29, 2025: Bought $1,000 to $15,000

Rep. Jared Moskowitz (D-Fla.) made a single purchase:

• April 7, 2025: Bought $1,000 to $15,000

Rep. Carol Devine Miller (R-W.Va.) also bought once:

• March 10, 2025: Bought $1,000 to $15,000

Rep. Scott Franklin (R-Fla.) was a more active buyer on a single day:

• Feb. 18, 2025: Bought $1,000 to $15,000
• Feb. 18, 2025: Bought $1,000 to $15,000 (a second transaction)
• Feb. 18, 2025: Bought $15,000 to $50,000

Who in Congress Owns RTX Corp?

Disclosures for RTX Corp span into early 2026. Here are the lawmakers who bought shares.

Rep. Gil Cisneros (D-Calif.) makes another appearance:

• Jan. 9, 2026: Bought $1,000 to $15,000

Sen. Markwayne Mullin (R-Okla.) made a larger purchase:

• Dec. 29, 2025: Bought $15,000 to $50,000

Rep. Roger Williams (R-Texas) bought shares:

• Dec. 22, 2025: Bought $1,000 to $15,000

Sen. John Boozman (R-Ark.) also bought on the same day:

• Dec. 22, 2025: Bought $1,000 to $15,000

Rep. Josh Gottheimer (D-N.J.) purchased earlier in the year:

• April 23, 2025: Bought $1,000 to $15,000

Who in Congress Owns Palantir?

The list for Palantir is longer and includes some more substantial transactions, particularly from one representative.

Rep. Rob Bresnahan (R-Pa.) traded actively in early 2025:

• April 8, 2025: Bought $1,000 to $15,000
• Feb. 26, 2025: Sold $1,000 to $15,000
• Feb. 25, 2025: Sold $1,000 to $15,000
• Feb. 25, 2025: Bought $1,000 to $15,000

Rep. Gilbert Cisneros (D-Calif.) is, once again, a frequent buyer. He appears in the disclosures for all three stocks.

• Jan. 9, 2026: Bought $1,000 to $15,000
• Nov. 18, 2025: Bought $1,000 to $15,000
• Nov. 7, 2025: Bought $1,000 to $15,000
• Oct. 9, 2025: Bought $1,000 to $15,000
• March 31, 2025: Bought $1,000 to $15,000
• Jan. 24, 2025: Bought $1,000 to $15,000

Rep. James Comer (R-Tenn.) made a single purchase:

• Jan. 21, 2025: Bought $1,000 to $15,000

Rep. Cleo Fields (D-La.) stands out for the size and frequency of his purchases, building a significant position throughout 2025:

• Oct. 10, 2025: Bought $15,000 to $50,000
• Aug. 13, 2025: Bought $50,000 to $100,000
• July 28, 2025: Bought $50,000 to $100,000
• July 18, 2025: Bought $100,000 to $250,000
• June 30, 2025: Bought $50,000 to $100,000
• June 25, 2025: Bought $1,000 to $15,000

Rep. Lisa McClain (R-Mich.) showed a mix of buying and selling:

• Oct. 31, 2025: Sold $1,000 to $15,000
• Oct. 30, 2025: Sold $1,000 to $15,000
• Oct. 30, 2025: Bought $1,000 to $15,000
• June 17, 2025: Bought $1,000 to $15,000

It's worth noting that according to reports, Rep. McClain previously disclosed several transactions late in 2025 related to 2024 trades, potentially violating the STOCK Act's disclosure timelines. Those filings included selling $50,000 to $100,000 in Palantir stock on Oct. 23, 2024, and buying $100,000 to $250,000 on Nov. 7, 2024.

The Uncomfortable Overlap

So, what's the issue? It's a straightforward conflict of interest, or at least the appearance of one. Members of Congress who own shares in Lockheed Martin, RTX, and Palantir could directly profit from the very military campaign against Iran that they might oversee, fund, or debate. Every missile fired, every plane sortied, and every data contract extended potentially boosts the value of their portfolios.

The concern deepens when you consider committee assignments. Some of the members named above serve on committees related to defense and Homeland Security. These positions could, in theory, provide early or non-public insight into military strategy, budgeting, and procurement—information that could be highly relevant to trading decisions.

Furthermore, lawmakers like Rep. Cisneros, who own shares in two or even all three of these stocks, are positioned to be "big winners" from a prolonged conflict that benefits the entire defense sector. Their public comments on the war will likely face increased scrutiny, as observers will be watching for any connection between their policy positions and their personal financial interests.

A crucial disclaimer: the disclosures show transactions from 2025 and early 2026. The members listed may have sold their shares since those filings. The system is designed for transparency, but it's a snapshot, not a real-time ledger. Still, the data provides a clear picture of which lawmakers have recently chosen to invest in the companies whose fortunes are now tied to escalating military action.