Mojtaba Khamenei has issued more than two dozen written statements as Iran's Supreme Leader since his appointment on March 8, 2026, following the February 28 strike that killed his father Ali Khamenei, yet no authenticated recent photograph, video, or live public appearance has emerged. Iranian officials cite ongoing security risks from the conflict with Israel and the United States, while analysts note possible delegation to a collective leadership structure and questions over his physical condition after reported injuries. Claims of private meetings by President Masoud Pezeshkian and archival footage releases have not resolved verification concerns. Traders weigh historical low visibility by Khamenei family members against scheduled religious observances and state events through year-end that could prompt an appearance.