Trump’s 3,642 Stock Swings Shock Congress – Did He Just Outsell Wall Street?

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Trump Logs 3,642 Stock Trades in Q1, Breaking Decades of Blind Trust Norms

A recently released financial disclosure report shows that President Donald Trump made 3,642 stock trades in the first quarter of 2026. The 113-page report indicates a significant shift in his investments, moving away from bonds and towards stocks compared to previous reports earlier in the year.

Trading activity averages around 60 transactions per day. This is a significant change from a long history – dating back to the presidency of Lyndon B. Johnson – where these transactions were typically handled without public knowledge or transparency.

A Break From Decades of Blind-Trust Practice

Since Lyndon Johnson, most U.S. presidents have used blind trusts – arrangements where they have no control over their investments – to avoid potential conflicts of interest. Some have gone even further: Jimmy Carter sold his peanut farm, while Barack Obama invested in Treasury notes and index funds. Joe Biden also utilized a blind trust during his presidency.

This document is 113 pages long and details purchases of stock in several companies, including Nvidia, Microsoft, Broadcom, Amazon, and Apple.

The larger deals were each worth between $1 million and $5 million. Many smaller transactions occurred, ranging from $15,000 to $25 million per individual item.

Treasury Secretary Scott Bessent has spoken out in favor of prohibiting members of Congress from trading stocks, and politicians from both the Democratic and Republican parties agree with him.

I’m advocating for a law that would prevent members of Congress from trading individual stocks. Americans deserve representatives who prioritize public service over personal financial gain, and it’s concerning to see politicians like Ron Wyden and Nancy Pelosi achieving investment returns similar to those of professional hedge funds. Serving the public should be the focus, not getting wealthy.

— Treasury Secretary Scott Bessent (@SecScottBessent) August 13, 2025

The issues surrounding trading by members of Congress are now also relevant to those working in the executive branch. While the 2012 STOCK Act mandates that these officials report their trades, it doesn’t actually prevent them from making them.

Holdings Mirror Administration Priorities

The portfolio focuses on industries that have thrived due to government policies. Investments in semiconductor companies like Nvidia, Broadcom, and AMD reflect the White House’s efforts to increase chip manufacturing within the United States.

As a researcher, I’ve noticed these stock buybacks are happening during a period of changing tariffs, particularly impacting supply chains in Asia. Interestingly, the financial sector – companies like JPMorgan, Goldman Sachs, and Visa – seems to be benefiting from the deregulation expected to continue through 2026.

Investors in Coinbase, Robinhood, and SoFi are benefiting from a favorable political climate for cryptocurrency. Recent developments include executive actions supporting crypto, discussions about a national Bitcoin reserve, and a proposal for a retirement program involving Trump-branded accounts.

Recent disclosures show that President Trump made 3,642 stock trades between January 1st and March 31st, involving publicly traded companies. Our team has reviewed and analyzed these thousands of transactions, which include a wide range of stocks and ETFs.

— The Kobeissi Letter (@KobeissiLetter) May 14, 2026

Robinhood is starting out as the program’s main manager. Some people are concerned this creates a potential conflict of interest. The White House maintains that these arrangements fully follow the STOCK Act regulations.

One notable case centers around Dell Technologies. Records show several purchases worth over a million dollars each starting on February 10th. Then, on May 8th, the president publicly complimented the company during an event at the White House.

The stock price increased by approximately 12% on that day. In December 2025, the Dell family also committed $6.25 billion to the Trump Accounts program.

If this situation leads to an official investigation will be decided by the ethics committees in the House and Senate, as well as the Office of Government Ethics.

While this report meets legal requirements, it’s also fueling an ongoing discussion about rules governing financial trading by those in the executive branch.

That debate gained urgency after years of scrutiny aimed at congressional portfolios.

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2026-05-14 21:57