Trump managers made 1,152 trades in July, disclosure shows

September 23, 2026 at 05:15 AM2 min

This digest was compiled by AI from multiple sources — links to the originals are below.

President Donald Trump's money managers made 1,152 trades on his behalf in July, according to his latest financial disclosure. The volume is roughly 50 trades a day and includes companies such as SpaceX and RTX that do business with the federal government. The disclosure deepens concerns about potential conflicts of interest even as the White House says the portfolio is independently managed.

Key Facts

Trump's money managers executed 1,152 trades in July, roughly 50 per trading day.
Trump or his managers have made more than 28,000 trades since his second inauguration in January 2025, exceeding all House and Senate members combined.
The July trades included as much as $25 million in sales of shares of both Microsoft and Amazon.
Trump is the first modern president to decline to place his assets in a blind trust.
White House spokesperson Davis Ingle said the portfolio is independently managed through computer-based model portfolios that automatically replicate indexes such as the Schwab 1000.

Trading Volume

President Donald Trump's money managers made 1,152 trades on his behalf in July alone, according to his latest financial disclosure Tuesday. The transactions amount to roughly 50 trades a day, a heavy volume for a typical investor but consistent with Trump's portfolio activity in his second term. According to a Bloomberg analysis, Trump or his managers have executed more than 28,000 trades since his second inauguration in January 2025 — more than every member of the House and Senate, combined. Former presidents Joe Biden and Barack Obama didn't trade individual stocks, as their portfolios relied primarily on mutual funds and US Treasuries.

Conflict of Interest Concerns

The transactions included many companies such as SpaceX and RTX (formerly known as Raytheon) that do business with the federal government, in industries his administration helps regulate. The scale of the trading — which included as much as $25 million in sales of shares of both Microsoft and Amazon — has deepened concerns about the potential for corruption. Trump is the first modern president to decline to place his assets in a blind trust — meaning he has the ability to see which stocks his money managers are buying or selling. Trump's signature appears on his financial disclosure form listing all of his trades, indicating he has seen the document and is aware of at least some of his holdings.

White House Response

"President Trump's stock and bond portfolio is independently managed by third-party financial institutions," Davis Ingle, a White House spokesperson, told CNN. "All holdings are maintained in discretionary accounts and invested through computer-based model portfolios that automatically replicate recognized indexes, such as the Schwab 1000." "Neither President Trump nor any member of his family has any ability to direct, influence, or provide input regarding how the portfolio is invested or when investments are bought or sold." "All investment decisions are made entirely by independent managers. There are no conflicts of interest," Ingle added.