Donald Trump disclosed financial transactions valued at a minimum of $220 million in U.S. securities during the first quarter of 2026, with estimates placing the total between $220 million and $750 million, according to reports released on May 14 by the US Office of Government Ethics [1, 2, 3, 4]. Approximately 3,600 to 3,700 individual trades were conducted involving stocks and municipal bonds during this period [3, 4, 5, 6, 7, 8].
The trades included shares of major American companies such as Microsoft, Meta Platforms, Oracle, Broadcom, Bank of America, Goldman Sachs, Nvidia, Apple, Amazon, Adobe, Uber, Boeing, eBay, Abbott, AT&T, and Dollar Tree among others [1, 2, 3, 9, 10, 8, 11]. On February 2, 2026, Trump purchased shares of Kura Sushi USA valued between $1 million and $5 million [4, 6, 7].
Disclosures present transactions in value bands instead of exact figures, and do not specify whether the securities were stocks or bonds, nor the specific accounts used [1, 2, 9, 10, 8]. Trump's assets are held in trusts controlled by his children but managed independently by third-party financial institutions without direct involvement from Trump or his family, according to spokespersons and family members [3, 6, 7, 11]. A spokesperson for the Trump Organization said, "All of the president’s assets are managed independently by third-party financial institutions responsible for all investment decisions, and that neither Trump himself, his family nor the company is involved in making trading decisions" [6]. Eric Trump stated, "All of our assets are invested in a blind trust by the largest financial institutions in broad market indexes. To suggest that individual stocks are being bought or sold, at the discretion of any member of the Trump family, would be a lie and blatantly false" [11].
Experts described the volume and frequency of these trades as unusually high for an individual investor. Matthew Tuttle, CEO of Tuttle Capital Management, said, "This is an insane amount of trades. It looks more like something done by a hedge fund with massive algo trades that buys and shorts securities than a personal account" [5].
The disclosure and details of Trump's stock market activity have reignited concerns about conflicts of interest and corruption related to his presidency. Prominent Democrats criticized the trading, with Senator Elizabeth Warren calling it "a national security disaster" and accusing Trump of intertwining his political and financial interests. Warren further noted, "Trump brought the Nvidia CEO on his trip to China to lobby (Chinese President) Xi Jinping to buy advanced AI chips, even though it would create a US national security threat. It turns out Trump also bought millions in Nvidia’s stock" [11]. Illinois Governor JB Pritzker also publicly condemned the trades [3, 11].
The Trump family has denied wrongdoing, maintaining the independence of the trust-managed assets [3, 11]. The next scheduled public financial disclosure will cover the second quarter of 2026.
