Trump Disclosure Reveals 3,642 Stock Trades Worth Up to $750 Million in Q1, Including Big Buys of Nvidia and Sales of Microsoft and Meta

President Donald Trump's personal investment portfolio executed 3,642 securities transactions in the first three months of 2026 — averaging 58 trades for every U.S. trading day — and moved between $220 million and $750 million in stock purchases and sales of major American tech, banking and oil companies, according to a periodic transaction report released Friday by the U.S. Office of Government Ethics. The disclosure is the most detailed window yet into the trading activity inside the president's revocable trust since he returned to office in January 2025.

The trades included large purchases — defined as transactions valued between $1 million and $5 million each — in Nvidia, Advanced Micro Devices, Palantir Technologies, Oracle, Apple and Goldman Sachs. Significant sales, valued between $5 million and $25 million each, included blocks of Microsoft, Meta Platforms, Amazon and JPMorgan Chase. The report also showed activity in oil and defense names that have benefited from administration policy, including Exxon Mobil, Chevron, Lockheed Martin and Raytheon parent RTX. Because OGE filings disclose only value ranges rather than exact figures, the cumulative dollar value of the activity was reported as between $219.4 million and $748.6 million.

The White House said the assets are held in a revocable trust managed by the president's adult children — Donald Trump Jr. and Eric Trump — and that the president "plays no role in the trading decisions and has no day-to-day involvement." In a written statement Friday afternoon, White House communications director Steven Cheung said "there are no conflicts of interest" and called the disclosures "unimpeachable evidence of President Trump's commitment to transparency." An ethics certification appended to the filing was signed by an OGE designee on May 9 and noted that the trust structure complies with the ethics agreement Trump signed before taking office.

Government-ethics experts said the volume of trading nonetheless raises questions that the trust arrangement cannot fully answer. "There is no blind trust here in any meaningful sense — the trustees are the president's sons and they share his economic interests," said Virginia Canter, the chief ethics counsel at Citizens for Responsibility and Ethics in Washington and a former White House ethics adviser under presidents Obama and Clinton. Walter Shaub, who led the Office of Government Ethics in the first Trump administration before resigning in 2017, told NBC News that the report "shows trading activity at a scale that should make every American uncomfortable, given that the president's own decisions move the markets in these companies every day."

The disclosure landed during a quarter in which the administration imposed sweeping new tariffs on imported semiconductors and electric vehicles, lifted certain export controls on Nvidia's H20 chip sales to Chinese customers, and announced multibillion-dollar Pentagon contracts to RTX and Lockheed Martin. Trump's portfolio purchased Nvidia shares in the same window in which his Commerce Department was negotiating a 15% revenue-sharing agreement with the chipmaker on advanced AI exports to China. House Democrats led by Rep. Jamie Raskin of Maryland sent a letter Sunday demanding that the OGE turn over the full underlying trading logs and announced plans to introduce legislation that would require the president, the vice president, Cabinet officers and members of Congress to divest from individual stocks or place assets in genuinely blind trusts. Republican leaders dismissed the bill as a political stunt.