Trump disclosed up to $695 million in trades amid ethics scrutiny

Donald Trump disclosed up to $695 million in stock and other securities trades in the first three months of the year, a scale of activity that turns a routine filing into a serious test of presidential ethics and governance. The disclosures show 3,642 transactions between Jan. 6 and March 30, 2026, about 63 trades for every trading day in that span.

The filing, made public in May through two OGE Form 278-T reports submitted to the U.S. Office of Government Ethics, covered more than 1,000 companies and funds. Because federal ethics forms use broad value bands instead of exact amounts, different outlets have placed the total anywhere from roughly $220 million to $750 million. The underlying transaction ranges cited in the notes run from $212 million to $695 million.

The accounts bought and sold stakes in some of the most closely watched names in the market, including Nvidia, Microsoft, Amazon, Apple, Meta, Broadcom, Oracle, ServiceNow and Alphabet. The disclosures also included municipal bonds and an S&P 500 index fund. Some of the largest purchases were valued between $1 million and $5 million, while some sales fell in the $5 million to $25 million range.

That breadth is what makes the filing politically explosive. Financial disclosure rules are supposed to monitor and deter conflicts of interest from outside holdings, according to House ethics guidance, yet the forms do not show exact prices, profits or who actually placed each trade. They also do not always specify the exact type of security, leaving a gap between what the public can see and what would be needed to determine whether any trade was driven by the president himself.

The White House and the Trump Organization said the assets are held in discretionary accounts managed by third-party financial institutions, with Trump and his family not making the investment decisions. Even so, the structure falls short of the classic blind-trust model often used to insulate elected officials from the appearance of self-dealing, because the filings do not identify which trades were directed by Trump and which were handled by brokers.

The timing of some Nvidia purchases sharpened the scrutiny. One buy of between $1 million and $5 million came on Feb. 10, 2026, about a week before Nvidia announced a major deal with Meta. Another purchase of $500,000 to $1 million came about a week before the Commerce Department approved some Nvidia chip sales to China. Democrats and ethics experts have pointed to those dates as exactly the kind of overlap disclosure laws are meant to expose, while Congress continues a bipartisan push to restrict or ban stock trading by public officials.