Kevin Hern just won Oklahoma's Republican Senate primary, which in a state that hasn't elected a Democratic senator since 1990 is basically a coronation with a filing fee. Social media was quick to weigh in — the reaction on Bluesky skewed somewhere between resigned and furious, with posts noting his PPP loan history alongside more colorful character assessments. While the political press catches up to the race, Blind Trust has been watching a different set of numbers: four disclosed stock trades in the last 90 days, a 90-day alpha record that sits at minus one percent across 73 scored trades, and a pair of healthcare positions that overlap directly with his seat on Ways and Means.
Senator-in-Waiting, Oil State Edition
Hern represents Oklahoma's 1st Congressional District — Tulsa, oil money, the whole aesthetic — and he's now the GOP's Senate nominee. The general election is a formality. He's going to the Senate.
On May 8, Hern filed two exchange transactions: Coterra Energy (CTRA) and Devon Energy (DVN), each in the $15,000-to-$50,000 range. Both are Oklahoma-headquartered oil and gas producers. Both are the kind of stocks you'd expect an Oklahoman congressman to hold without anyone raising an eyebrow — which is almost exactly why they're worth noting. The same-day filing on two domestic energy names, weeks after launching a Senate run, is a good date to have in your back pocket.
His committee assignments are Ways and Means, with subcommittees on Health and Tax. No energy committee. No formal oversight remit over oil and gas. The CTRA and DVN trades carry no conflict angle. They're just trades.
The Goldman Dump
Bigger, in dollar terms: on April 29, Hern sold Goldman Sachs (GS) in the $250,000-to-$500,000 range. Largest single disclosed trade in this 90-day window by a considerable margin.
The House passed the American Access to Banking Act and the Community Bank Deposit Access Act of 2025 on May 20, both with Hern voting Yea. Both bills carry high market-relevance scores for the banking sector. The Goldman sale cleared April 29. The floor votes came May 20.
A clarification worth making: the May 20 banking bills are oriented toward community banks and deposit access, not Goldman's core business. Hern sits on Ways and Means, not Financial Services — no special oversight role on banking legislation. There are no flagged vote-trade overlaps in the brief. What the Goldman exit and the banking votes share is a calendar: 21 days between the sale and the votes. The interpretation is yours.
The Health Subcommittee Trades
Here's where Blind Trust applies the stricter standard. Hern sits on Ways and Means Health and Ways and Means Tax. Healthcare sector trades are in-scope for a conflict angle — not automatically suspicious, but worth naming explicitly.
The committee-overlap trades on his full disclosure record include:
- UNH (UnitedHealth Group), Purchase, June 25, 2024: $1K–$15K. +12.8% alpha over 30 days. Committee overlap: Healthcare.
- CB (Chubb), Purchase, July 8, 2024: $1K–$15K. +13.3% alpha over 30 days. Committee overlap: Insurance.
- UNH (UnitedHealth Group), Sale, December 23, 2025: $250K–$500K. +2.0% alpha over 30 days. Committee overlap: Healthcare.
- BSX (Boston Scientific), Sale, October 28, 2025: $15K–$50K. -0.4% alpha over 30 days. Committee overlap: Healthcare.
- JNJ (Johnson & Johnson), Purchase, March 5, 2024: $1K–$15K. -0.2% alpha over 30 days. Committee overlap: Pharmaceuticals.
The UNH sequence is the one worth sitting with. A congressman on the Health subcommittee of Ways and Means buys UnitedHealth in a small position, rides it up, and exits at $250K–$500K eighteen months later with a positive 2.0% 30-day alpha on the sale. The Chubb purchase at +13.3% over 30 days is the best single committee-overlap trade in the record — small position ($1K–$15K), solid return. Insurance falls under the Ways and Means Health subcommittee's broader remit.
Members are required to disclose. They are not required to divest, recuse, or abstain.
The Full Scorecard
Hern has 73 scored trades. 31 are positive. 42 are negative. Mean 30-day alpha: minus one percent. A congressman who trades frequently enough to generate a meaningful sample and still trails the index.
The worst entries are stark. Two sales of BNPQY on October 9, 2025 — one in the $1M–$5M range, one in the $250K–$500K range — each logged -14.1% alpha over 30 days. No committee overlap. A March 2026 sale of PRGS (Progress Software) in the $50K–$100K range came in at -20.3% alpha. Also no overlap. The small March 2026 sale of EXAS (Exact Sciences) in the $1K–$15K range — the fourth trade in the 90-day window — is a modest trim on a cancer screening diagnostics name with no committee overlap flagged.
The pattern across 73 trades: committee-overlap healthcare positions skew positive; the rest of the book skews negative. The math is what it is.
What Comes Next
The Bluesky conversation around Hern's primary win circled his PPP loan history and character assessments this publication will leave to the reader's imagination. The Google News pipeline is quiet for now — zero stories in a 24-hour window — which means the national press hasn't arrived at the "what does Kevin Hern actually think" phase of the Senate race yet.
When it does, reporters will find a Ways and Means member who holds healthcare stocks in his subcommittee's jurisdiction, traded two oil names on the same day two weeks ago, and sold a large Goldman position 21 days before a banking bill package cleared the floor.
None of that makes him unusual in Congress. Several members are running the same overlap right now. What makes Hern's situation worth tracking is the trajectory: a Senate seat means longer tenure, more visibility, and — realistically — a Senate Finance Committee assignment, which is the upper-chamber equivalent of Ways and Means Health and carries even broader market exposure.
His 73-trade record underperforms the index by a point on average. His committee-overlap trades say something slightly different. The receipts are public. Make of them what you make of them.