Mojtaba Khamenei has remained unseen in any verified public setting since his appointment as Iran's Supreme Leader in March 2026, following his father Ali Khamenei's assassination in a February 28 airstrike that also killed several family members. Iranian authorities cite security threats from the ongoing conflict with the US and Israel, along with reported injuries, as reasons for his seclusion, while issuing written statements and unverified claims of private meetings or shrine visits to affirm his authority. Regime media have emphasized his qualifications and issued indirect proof-of-life narratives, yet no authenticated photos, videos, or appearances have materialized through September 2026, including during the July state funeral. This pattern, reinforced by tightened leadership security protocols, shapes trader views on the low likelihood of a near-term public sighting absent a major scheduled religious or political event.