Source: ProPublica Trump Team Financial Disclosures database, searched April 8, 2026.

CRITICAL CONFLICTS (Procurement-Adjacent Positions)

John Phelan — Secretary of the Navy ($791M total assets)

• Multiple Blue Owl holdings: Blue Owl Capital (OWL), Blue Owl Healthcare Opportunities III LP
• WHY THIS MATTERS: The Navy Supply Systems Command (NAVSUP) administers WEXMAC-TITUS — the military contracting vehicle through which ALL ICE warehouse purchases are routed. The Secretary of the Navy oversees NAVSUP. Phelan holds Blue Owl investments while his department administers the contract vehicle purchasing Blue Owl’s warehouses.
• Also holds 26North BDC (his own firm) and extensive alternative investment portfolio

John Russell McGranahan — General Counsel, GSA

• Blue Owl Capital transactions on disclosure
• WHY THIS MATTERS: GSA is the agency that normally brokers federal real estate deals. McGranahan was its top lawyer through November 2025. The warehouse purchases bypassed GSA via WEXMAC-TITUS — but McGranahan’s office would have been involved in any normal procurement.

David R. Fitzgerald — Senior Official Performing Duties of Under Secretary of the Army, DOD ($530K)

• Blue Owl Credit Inc. Corp (BCQ03)
• WHY THIS MATTERS: DOD is the department through which WEXMAC-TITUS operates. The Under Secretary of the Army oversees Army real estate and installations.

Philip Weinberg — Asst Secretary of the Air Force for Financial Management, DOD ($1.5M)

• Blue Owl Capital Inc. Class A Common Stock (OWL)
• DOD financial management role — oversight of military spending diverted to detention

Brendan Rogers — Asst Secretary of the Navy for Energy, Installations, and Environment, DOD ($22M)

• Blue Owl Cap Inc. (OWL)
• WHY THIS MATTERS: Directly oversees Navy installations and environment — the Navy is the department administering WEXMAC-TITUS

Jonathan Gould — Comptroller of the Currency, Treasury ($3.3M)

• Blue Owl RE NLP Fund P LP (real estate fund)
• WHY THIS MATTERS: The Comptroller regulates national banks including Deutsche Bank’s US operations. Holds investments in a Blue Owl real estate fund while regulating institutions involved in the warehouse transactions.

Mark R. Paoletta — General Counsel, Office of Management and Budget ($1M)

• Blue Owl Capital Inc. Class A Common Stock (OWL)
• OMB reviews federal spending and procurement policy

Donald J. Trump — President ($1.4B)

• BLUE OWL CAP INC CLASS A, BLUE OWL CAP INC COM CL A
• The president directing the detention expansion holds investments in a firm selling warehouses to his administration

HIGH-VALUE OFFICIALS (Large holdings or significant positions)

Joseph Popolo — Ambassador to Netherlands ($169M)

• Extensive Blue Owl exposure: Blue Owl Capital Corp (OBDC), Blue Owl Capital Diversified Holdings LLC, CH-IP Owl Rock Tech II — appears to hold investments in Blue Owl management company itself, not just publicly traded stock

Jared Taylor Isaacman — NASA Administrator ($314M)

• BLUE OWL CAPITAL CORPORATION (OBDC)

Scott Aaron Kupor — Director, Office of Personnel Management ($182M)

• OWL (Blue Owl Capital Inc Com Cl A)

Thomas J. Barrack — Ambassador to Turkiye ($112M)

• Blue Owl Capital Corp (OWL)
• Barrack is a longtime Trump confidant; was charged with acting as unregistered foreign agent for UAE (acquitted 2022)

Benjamin Black — CEO, US International Development Finance Corporation ($115M)

• BLUE OWL CAP INC CL A (symbol OWL)

Bernardo Navarro — Ambassador to Peru ($75M)

• BLUE OWL CAPITAL CORPORATION SENIOR (bond holding)

Christopher Allen Wright — Secretary of Energy ($71M)

• Blue Owl Capital Inc. Class A Common Stock (OWL)
• Also made transactions in Blue Owl stock

Melinda Hildebrand — Ambassador to Costa Rica ($603M)

• BLUE OWL CAPITAL INC COM CL A

Benjamin Leon Jr. — Ambassador to Spain & Andorra ($379M)

• BLUE OWL REAL ESTATE FUND VI — a direct real estate fund investment, not just stock

Andrew F. Puzder — US Representative to EU ($24M)

• Blue Owl Capital Corp Ord Shs

Michael Boren — Under Secretary for Natural Resources, Agriculture ($222M)

• Listed in search results but Blue Owl connection appears tangential (company named “Owl” in portfolio may be different entity — needs verification)

OTHER OFFICIALS WITH BLUE OWL HOLDINGS

AGENCY DISTRIBUTION

THE STRUCTURAL CONFLICT

Four DOD officials hold Blue Owl investments. DOD administers WEXMAC-TITUS. The Secretary of the Navy — whose command (NAVSUP) literally runs the contract vehicle — holds multiple Blue Owl positions including a healthcare opportunities fund. The Assistant Secretary of the Navy for Installations — who oversees the physical infrastructure side — also holds Blue Owl stock.

The chain: Blue Owl owns warehouses → DHS buys them through WEXMAC-TITUS (administered by Navy/NAVSUP) → The Secretary of the Navy holds Blue Owl investments → The purchases generate returns for Blue Owl investors including the Secretary of the Navy.

This is not a passive index fund exposure. Several of these officials hold direct fund investments (Popolo: Blue Owl Capital Diversified Holdings LLC; Leon: Blue Owl Real Estate Fund VI; Gould: Blue Owl RE NLP Fund P LP; Phelan: Blue Owl Healthcare Opportunities III LP) — these are illiquid alternative investments that require active subscription, not incidental stock holdings.