President Donald Trump says he never talks to the people who run his money.
The disclosed data indicates total trading value between $600 million and $1.86 billion. Roughly half of the trades fell into the smallest reporting category, ranging from $1,001 to $15,000. Trades at or below $1,000 do not have to be reported, so the real total could be higher.
In total, Trump reported 15,524 purchases and 5,761 sales. More than 200 times, the president purchased a security in one portfolio while simultaneously selling that identical security from a different portfolio on the same trading day.
The trading volume spiked around major tariff announcements. On February 3, a day prior to the planned tariffs on Canada, Mexico, and China, Trump carried out 616 trades. About a month later, after he lifted a pause on those tariffs, he made 640 trades in one day.
Get your free investing masterclass bonus when you join Market Briefs, our free daily newsletter
On April 4, during a selloff after his "Liberation Day" tariff announcements, he made 446 trades. Ten trading days alone accounted for about one-quarter of all 2025 trades.
A number of the equities held by Trump belong to firms that contract with the U.S. government. Lockheed Martin shares appeared in six of his accounts. McDonald's, Microsoft, and Pfizer each appeared in seven accounts.
Apple and Tesla were among his top holdings. On September 15, one of his accounts traded Blue Owl Capital Corp stock.
Trump's son Eric Trump said in a May 2026 post: "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." White House spokesperson Anna Kelly added: "There are no conflicts of interest."
Trump himself acknowledged his profits but denied directing trades. "Purposely, I never speak to any of the people that run the money, but they're at big institutions, and they invest in whatever they invest. "You know why I'm profiting? Because the stock market's going up"."
Watchdog groups are examining the timing of trades for signs of improper profiting from the presidency, while the Trump Organization says his holdings are managed by independent third parties. But the pattern of burst trading on days Trump influenced markets will keep the issue in the spotlight.
While the Trump Organization maintains that all trading decisions are made by independent managers, the pattern of heavy trading on days when Trump's tariff moves moved markets raises questions about potential conflicts of interest.
Subscribe to Market Briefs, our free daily newsletter, and claim your bonus investing masterclass
