Former President Donald Trump's investment accounts engaged in over 1,000 securities transactions in June, according to a filing with the U.S. Office of Government Ethics. The Periodic Transaction Report disclosed 1,051 transactions involving individual stocks, bonds, and exchange-traded funds, with a combined value ranging from $78.1 million to $263.1 million.
Notable transactions included purchases of Berkshire Hathaway, Visa, Mastercard, and Cintas. On June 18, for instance, the accounts bought between $1 million and $5 million of each of these companies. On the same day, the accounts sold between $1 million and $5 million of Meta Platforms and Motorola Solutions.
Another significant transaction on June 22 involved the sale of between $5 million and $25 million of the Vanguard Dividend Appreciation Index Fund ETF, alongside purchases of Fidelity National Information Services and Home Depot.
The Palantir holding also showed considerable activity, with multiple purchases and sales throughout June. Other disclosed transactions involved Coinbase, RTX, Northrop Grumman, and Home Depot, as well as various ETFs and municipal bonds.
A White House spokesperson stated that Trump's portfolio is managed by independent managers using discretionary accounts and computer-based models designed to mirror stock indexes. This strategy, known as direct indexing, can result in numerous transactions as it involves buying individual securities to replicate an index.
However, the volume and timing of these trades have drawn criticism from Democratic lawmakers. Senator Elizabeth Warren and Representative Robert Garcia have questioned whether the administration has engaged in self-enrichment, citing trades that they allege overlapped with official policy announcements. They have requested explanations for these transactions, pointing to an analysis of previous trading activity that identified thousands of trades worth hundreds of millions of dollars during Trump's tenure.
Lawmakers highlighted approximately 30 transactions they deemed questionable, including the sale of about $25 million in Meta stock days before an administration official discussed potential costs for data-center companies. They also referenced a report indicating Trump made stock purchases in companies shortly before posting favorable comments about them on social media.
Warren and Garcia have requested a response regarding these activities by August 28. This latest disclosure follows a year in which Trump's businesses reportedly generated over $2 billion in revenue, with a significant portion attributed to cryptocurrency.