Donald Trump

Donald Trump is the 47th President of the United States and, as a federal executive-branch official, is required to file OGE Form 278 financial disclosures and periodic 278-T transaction reports under federal ethics law. His Q1 2026 filing — two 278-T reports filed in mid-May 2026 — disclosed 3,642 individual securities transactions (2,345 buys, 1,296 sells) executed between January 1 and March 31, 2026, with a cumulative disclosed value between $220M and $750M. The portfolio is managed by money managers within a trust structure overseen by his children; the trades reflect the disclosed Trump portfolio signal, not necessarily personal stock-picking by President Trump himself.

The disclosed portfolio exhibits extraordinarily high turnover — roughly 58 transactions per market day in Q1 2026 — suggesting active, manager-driven rebalancing rather than passive index exposure. Instrument mix spans individual equities (tech-heavy), municipal bonds, corporate debt (including bonds tied to Microsoft, Meta, Oracle, Broadcom), Treasury bills, and high-yield bond funds, with bonds dominating by transaction count. Equity position sizing is concentrated in the $500K–$5M range per name, with the largest single disclosed equity activity in the $5M–$30M band for MSFT, AMZN, and META (where large legacy sales were partially offset by smaller re-buys). A notable tactical pattern appeared in March 2026: the portfolio reportedly accumulated semiconductor and energy names (AMD, Intel, Bloom Energy, Marvell, Micron, and others) into the ~8% S&P drawdown triggered by the Iran war outbreak, positions that subsequently booked ~100% gains on the recovery. The overall Q1 2026 equity tilt represents a rapid, large-scale restructuring toward technology and artificial intelligence themes.

The disclosed portfolio is most heavily concentrated in large-cap technology and semiconductor equities — including AI infrastructure names (NVDA, AVGO, DELL, TXN, MRVL, MU, AMD, INTC), enterprise software (ORCL, NOW, ADBE, MSFT), and consumer/platform tech (AAPL, GOOGL, AMZN, META). Secondary concentrations appear in fintech/financial services (GS), energy technology (BE/Bloom Energy), and consumer internet platforms (ABNB, DASH), alongside a substantial fixed-income sleeve across municipal, corporate, and government debt instruments.

• ["- Trump's Q1 2026 OGE 278-T filings disclosed 3,642 individual transactions worth $220M–$750M cumulative — approximately 58 trades per market day across the quarter.","- The top VERIFIED accumulation signals (conviction 1.03 each, $1M–$5M disclosed, last filed 2026-02-15) are AAPL, AVGO, NOW, ADBE, ORCL, MSI, TXN, and DELL — all corroborated by 2+ independent sources.","- NVDA shows a VERIFIED net-buy signal at conviction 1.01, with $1M–$5M disclosed and a last-buy date of 2026-02-10, consistent with the broad AI infrastructure accumulation theme across the portfolio.","- META is the strongest distribution signal in the filing: a net-sell at conviction -1.09, with $5M–$25M disclosed in sales and zero offsetting buys — VERIFIED by 2+ independent sources, last sell 2026-02-10.","- MSFT and AMZN both show VERIFIED mixed signals (conviction -0.06 each): large legacy sales of $6M–$30M were partially offset by smaller re-buys on the same 2026-02-15 date, producing a slight net-sell reading.","- Single-source signals from the March 2026 cluster — AMD, INTC, BE, MRVL (all dated 2026-03-20, $500K–$1M each, conviction 0.63) — align with the reported dip-buying into the Iran-war-driven ~8% S&P drawdown; treat these with explicit hedging until a second source corroborates.","- The Washington Post reported Trump missed the 45-day STOCK Act filing deadline on a separate set of MSFT and AMZN trades worth tens of millions of dollars; a $200 fine was assessed, underscoring that disclosure timing can lag materially.","- All disclosed trades are executed by money managers within a child-supervised trust; the White House asserts no conflicts of interest, while the 3,642 hand-picked individual transactions contradict earlier public characterizations of the holdings as 'broad market index' exposure."]