Companies must tell investors about risks that matter to their business. Since the conflict involving Iran began, a number of them have written about the Strait of Hormuz in their filings. This page puts two public records side by side: what those companies said, and what their officers and directors reported on Forms 4 over the past 12 months, the same period our company pages use. It does not show why anyone sold or bought, and it does not suggest the two are connected.
What the filings say
These are the companies' own words, from their SEC reports:
- Expeditors (10-Q filed Aug 5, 2026): “Starting in late February 2026 the operations of our offices in Qatar, Bahrain, Kuwait, Lebanon, Oman, Saudi Arabia and United Arab Emirates were disrupted by the conflict with Iran and the closure of the Strait of Hormuz.” Filing
- CF Industries (10-Q filed Aug 6, 2026): “In March of 2026, safety concerns amid ongoing attacks by Iran and unavailability of war risk insurance coverage on affected vessels brought the flow of vessels to transport fertilizer and other products through the Strait of Hormuz to a halt.” Filing
- Nextpower (10-K filed May 19, 2026): “the U.S.-Iran war has resulted in a cessation or substantial curtailment of shipments through the Strait of Hormuz.” Filing
- Group 1 Automotive (10-Q filed Jul 30, 2026): “On June 17, 2026, the U.S. and Iran signed a memorandum of understanding intended to end the conflict and reopen the Strait of Hormuz.” Filing
- Occidental Petroleum (10-Q filed Aug 5, 2026): “Although shipping activity through the Strait of Hormuz improved during portions of the quarter following diplomatic efforts, recent developments have underscored the continued fragility of those conditions.” Filing
What the news reported
Reuters reported on October 15, 2026 that two ships, the GFS Pride and the Cape Dao, sank near the Strait of Hormuz after being hit by projectiles, and that attacks in the area had surged over the previous 10 days. Reuters also reports that the U.S.-Iran war began on February 28.
Source: Jonathan Saul and Renee Maltezou, Reuters, October 15, 2026, “Two ships sink near Hormuz after being hit by projectiles amid surge in attacks” (a syndicated copy credited to Reuters). It is the only news source used on this page.
The 42 companies
We read the Risk Factors and MD&A sections of the latest 10-K (or 20-F) and 10-Q of each company we track and kept the sentences that name the Strait of Hormuz, the Persian Gulf or the Gulf of Oman. These 42 describe an effect on the company's costs, supply chain, customers or operations. One quote each, in the company's words:
| Company | Filing | What it says |
|---|---|---|
| Akamai Technologies (AKAM) | 10-Q, Aug 7, 2026 | “Iranian strikes on data center facilities in the Persian Gulf in early 2026” |
| Baker Hughes (BKR) | 10-Q, Jul 27, 2026 | “ongoing supply constraints through the Strait of Hormuz and broader disruptions across the Middle East are expected to create incremental risk across the business” |
| Best Buy (BBY) | 10-K, Mar 18, 2026 | “disruption of transit through the Persian Gulf and the Strait of Hormuz, continues to disrupt global supply chain flows and impact fuel prices” |
| Black Stone Minerals, L.P. (BSM) | 10-Q, Aug 4, 2026 | “Oil prices increased during the first half of 2026 compared to the same period in 2025, primarily due to the conflict with Iran and the closure of the Strait of Hormuz.” |
| Cactus, Inc. (WHD) | 10-Q, Jul 31, 2026 | “particularly the impediment of traffic through the Strait of Hormuz” |
| Ceribell, Inc. (CBLL) | 10-Q, Aug 10, 2026 | “have disrupted, and may continue to disrupt, global energy and transportation markets, including shipping through the Strait of Hormuz” |
| CF Industries (CF) | 10-Q, Aug 6, 2026 | “brought the flow of vessels to transport fertilizer and other products through the Strait of Hormuz to a halt” |
| Church & Dwight (CHD) | 10-Q, Jul 31, 2026 | “has disrupted global shipping routes, including the Strait of Hormuz and surrounding waterways” |
| Danaher Corporation (DHR) | 10-Q, Jul 21, 2026 | “The conflict has significantly reduced the export of oil and natural gas from the Persian Gulf” |
| Delek US Holdings, Inc. (DK) | 10-Q, Aug 5, 2026 | “including the disruption to shipping through the Strait of Hormuz, has introduced significant volatility into global energy markets” |
| Dick's Sporting Goods, Inc. (DKS) | 10-K, Mar 27, 2026 | “adverse impacts on global trade with respect to goods passing through the Strait of Hormuz” |
| Dow Inc. (DOW) | 10-Q, Jul 24, 2026 | “The Strait of Hormuz remains a critical shipping corridor for crude oil, refined products, natural gas, and chemical feedstocks.” |
| Equinix (EQIX) | 10-Q, Jul 29, 2026 | “Recent disruptions in and around the Strait of Hormuz have demonstrated potential for armed conflict or related governmental actions to materially interfere with commercial shipping and global trade” |
| Expeditors International (EXPD) | 10-Q, Aug 5, 2026 | “Recent geopolitical tensions, most notably the Iran conflict and the closure of the Strait of Hormuz, have introduced additional risks.” |
| Flex Ltd. (FLEX) | 10-K, May 20, 2026 | “impair access to ports and transportation routes including the Strait of Hormuz” |
| GLAUKOS Corp (GKOS) | 10-Q, Jul 29, 2026 | “the related blockade of the Strait of Hormuz have resulted in increased oil prices, which could increase our transportation costs” |
| Gold.com, Inc. (GOLD) | 10-K, Sep 10, 2026 | “In June 2026, the United States and Iran entered into a memorandum of understanding to end the hostilities and open the Strait of Hormuz to shipping” |
| Group 1 Automotive Inc (GPI) | 10-Q, Jul 30, 2026 | “On June 17, 2026, the U.S. and Iran signed a memorandum of understanding intended to end the conflict and reopen the Strait of Hormuz.” |
| Imax Corp (IMAX) | 10-Q, Jul 23, 2026 | “disruptions to key global shipping routes, including the Strait of Hormuz, have and may continue to adversely affect global supply chains” |
| LandBridge Corp (LB) | 10-Q, Aug 6, 2026 | “Sustained disruption in the Strait of Hormuz, a key global oil and petrochemical chokepoint, could materially increase commodity prices and shipping costs” |
| Littelfuse Inc (LFUS) | 10-Q, Jul 29, 2026 | “the related disruptions to shipping through the Strait of Hormuz, which have led to significant volatility in global energy markets and could lead to prolonged increases in crude oil and natural gas prices” |
| Lucid Group, Inc. (LCID) | 10-Q, Aug 4, 2026 | “conflicts in the Middle East have affected, and may continue to affect certain shipping routes in the Red Sea as well as shipping routes through the Strait of Hormuz, resulting in delays in delivery of components” |
| Medtronic (MDT) | 10-K, Jun 18, 2026 | “military operations in the Middle East have disrupted maritime traffic in and around the Strait of Hormuz and have driven higher energy costs” |
| Mosaic Company (MOS) | 10-Q, Aug 5, 2026 | “Disruptions to shipping through the Strait of Hormuz could continue to adversely affect the availability, cost or timing of sulfur and ammonia inputs” |
| Nextpower Inc. (NXT) | 10-K, May 19, 2026 | “the U.S.-Iran war has resulted in a cessation or substantial curtailment of shipments through the Strait of Hormuz” |
| Occidental Petroleum (OXY) | 10-Q, Aug 5, 2026 | “shipping activity through the Strait of Hormuz improved during portions of the quarter following diplomatic efforts” |
| Par Pacific Holdings, Inc. (PARR) | 10-Q, Aug 5, 2026 | “The Strait of Hormuz effectively closed in early March 2026, which has disrupted global trade patterns and increased crude oil price volatility worldwide.” |
| PBF Energy Inc. (PBF) | 10-Q, Jul 30, 2026 | “Actions affecting regional shipping routes, including through the Strait of Hormuz, and impacts to certain Middle Eastern energy infrastructure have led to higher freight costs” |
| Permian Resources Corp (PR) | 10-Q, Aug 6, 2026 | “supply disruptions associated with heightened geopolitical tensions in the Middle East, including disruptions to key shipping routes in the Strait of Hormuz and the Red Sea” |
| Pitney Bowes Inc (PBI) | 10-Q, Jul 30, 2026 | “increases in oil and diesel fuel prices associated with shipping disruptions through the Strait of Hormuz because of the Iran conflict” |
| Power Integrations Inc (POWI) | 10-Q, Aug 6, 2026 | “blockades of or other sanctions that limit access to the Strait of Hormuz” |
| Sable Offshore Corp. (SOC) | 10-Q, Aug 10, 2026 | “Prices rose sharply following the outbreak of armed conflict between the United States and Iran in late February 2026 and the related disruption to shipping through the Strait of Hormuz” |
| Scorpio Tankers Inc. (STNG) | 20-F, Mar 20, 2026 | “the recent armed conflict between the U.S. and its allies and Iran has caused a de facto closure of the Strait of Hormuz and further disruption of trade routes in the Red Sea” |
| Select Water Solutions, Inc. (WTTR) | 10-Q, Aug 5, 2026 | “disruptions to maritime traffic through key shipping corridors, including the Strait of Hormuz have adversely affected global energy markets” |
| Texas Pacific Land Corporation (TPL) | 10-Q, Aug 5, 2026 | “an escalating military conflict in Iran led to attacks on energy infrastructure in the broader Middle East and caused major disruptions to the Strait of Hormuz” |
| Textron (TXT) | 10-Q, Jul 28, 2026 | “disruptions to international shipping lanes (including the Strait of Hormuz)” |
| United Microelectronics Corp (UMC) | 20-F, Apr 30, 2026 | “the closure of the Strait of Hormuz starting in March 2026 could threaten the semiconductor industry overall by limiting the supplies of natural gas” |
| Valero Energy (VLO) | 10-Q, Jul 30, 2026 | “alternative transportation routes that partially bypass the Strait of Hormuz” |
| Venture Global, Inc. (VG) | 10-Q, Aug 11, 2026 | “Disruptions affecting global oil and natural gas supply chains, including transit through the Strait of Hormuz, have increased demand and raised prices for oil and natural gas sourced from regions outside the Middle East” |
| Vita Coco Company, Inc. (COCO) | 10-Q, Jul 23, 2026 | “The disruption to energy shipments through the Strait of Hormuz has increased fuel and energy costs” |
| WaterBridge Infrastructure LLC (WBI) | 10-Q, Aug 6, 2026 | “Sustained disruption in the Strait of Hormuz, a key global oil and petrochemical chokepoint, could materially increase commodity prices and shipping costs” |
| Williams-Sonoma, Inc. (WSM) | 10-K, Mar 26, 2026 | “instability in the Middle East is deterring commercial vessels from traveling through the Suez Canal and the Strait of Hormuz” |
Ten more mention the strait only inside a long list of geopolitical risks and are not counted: Arteris, Inc. (AIP), Aura Minerals Inc. (AUGO), KE Holdings Inc. (BEKE), Kanzhun Ltd (BZ), Dollar Tree (DLTR), Global-E Online Ltd. (GLBE), Warrior Met Coal, Inc. (HCC), Jefferies Financial Group Inc. (JEF), Lam Research (LRCX) and Marvell Technology (MRVL). Ten others name the strait or the Gulf in a different way and are not counted: general market commentary or monitoring statements (Assured Guaranty (AGO), Carlyle Group (CG), Castle Biosciences (CSTL), Diversified Energy (DEC), Flywire (FLYW), Kulicke & Soffa (KLIC), Willis Lease Finance (WLFC)), a description of the conflict itself (Kraft Heinz (KHC)), and Gulf references that are not about the strait (Enlight Renewable Energy (ENLT), TORM (TRMD)).
What officers and directors did in the past 12 months
Forty of the 42 companies are in the dollar figures; two foreign companies, Scorpio Tankers (STNG) and United Microelectronics (UMC), are not shown, because some prices in their filings are not in U.S. dollars or were entered as totals, so no dollar total is shown while we verify. Officers and directors at the 40 sold $3.21B of their companies' stock between October 18, 2025 and October 17, 2026, as shown on each company's page. 36% was sold under trading plans the insiders disclosed, 3% to cover taxes on vesting stock, and 60% ($1.94B) came with no plan disclosed. Thirty-six of the 40 had officer or director sales; four (Dow, Group 1 Automotive, Occidental Petroleum and WaterBridge Infrastructure) had none.
| Company | Sold, past 12 months | Under a disclosed plan | No plan disclosed | Insiders who sold (of all officers and directors) |
|---|---|---|---|---|
| LandBridge Corp (LB) | $717M | 0% | 100% ($717M) | 2 of 9 |
| Venture Global, Inc. (VG) | $409M | 68% | 32% ($132M) | 8 of 13 |
| Best Buy (BBY) | $294M | 68% | 30% ($88.0M) | 7 of 20 |
| Danaher Corporation (DHR) | $258M | 0% | 100% ($258M) | 8 of 28 |
| PBF Energy Inc. (PBF) | $186M | 0% | 100% ($186M) | 9 of 19 |
| Flex Ltd. (FLEX) | $119M | 52% | 4% ($5.3M) | 10 of 16 |
| Permian Resources Corp (PR) | $90.7M | 0% | 66% ($59.6M) | 8 of 14 |
| Pitney Bowes Inc (PBI) | $89.0M | 99% | 1% ($452K) | 4 of 15 |
| Vita Coco Company, Inc. (COCO) | $88.9M | 98% | 2% ($1.5M) | 11 of 15 |
| Cactus, Inc. (WHD) | $77.3M | 64% | 36% ($28.1M) | 8 of 15 |
| Imax Corp (IMAX) | $74.7M | 54% | 46% ($34.2M) | 9 of 21 |
| Baker Hughes (BKR) | $73.2M | 99% | 1% ($1.0M) | 7 of 17 |
The five largest companies by dollars (LandBridge, Venture Global, Best Buy, Danaher and PBF Energy) account for 58% of the total. LandBridge, Danaher and PBF Energy account for $1.16B of the $1.94B sold with no plan disclosed. The full list of 40, with taxes, number of sellers and purchases, is in the data file below.
Nine companies had open-market purchases by officers or directors in the same 12 months, 34 purchases by 23 people worth $10.1M: Dick's Sporting Goods ($5.6M, seven people between August 26 and September 30, 2026), Black Stone Minerals ($2.4M, two people in May and June 2026), Textron ($989K, May 1, 2026), Occidental Petroleum ($445K, December 2025 and June 2026), WaterBridge Infrastructure ($264K, four people on January 5 and 6, 2026), Pitney Bowes ($231K, two people between October 2025 and March 2026), LandBridge ($165K, three people on January 5 and 6, 2026), Mosaic ($17K, November 2025) and Venture Global ($16K, June 2026). Each is a Form 4 transaction coded as a purchase on the market. Several of these were made before the conflict began. Texas Pacific Land's company page counts two kinds of purchases that this article leaves out: a director's purchase matched with a sale of the same number of shares on the same day, and an asset manager's daily purchases for client accounts.
What the filings don't show
- Why anyone sold or bought. Filings rarely give a reason, and we don't guess at one. A sale under a disclosed trading plan was scheduled in advance; how far in advance varies, and a plan can be adopted before or after an event.
- When. The 12-month window starts in October 2025, months before the conflict. Much of this selling and buying happened before the events described above.
- Inside information. A company's risk disclosure is public. It says nothing about what any insider knew.
- Everything about exposure. We read only the latest annual and quarterly report of the companies we track (1,041 of 1,044 had one on file), mostly their Risk Factors and MD&A sections. A company whose latest report predates the conflict, or that wrote about it elsewhere in the report, is not counted, so 42 is a floor for the companies we track, not a count of the market.
- Anyone's whole wealth. These are holdings of company stock reported to the SEC.
Insider data for each company · Methodology · Report an error
This is research on public filings, not investment advice.