🇺🇸 Trump's Brokers Bought $10M-$24M in Defence Stocks — Palantir, Lockheed Martin, General Dynamics
A new analysis by Responsible Statecraft reveals that brokers representing President Donald Trump purchased between $9.7 million and $24.3 million in defence stocks in 2025. The portfolio includes shares of a dozen arms manufacturers and Pentagon contractors — most notably Palantir, Lockheed Martin, and General Dynamics.
The disclosure comes as the Trump administration launches new strikes on Iran, oversees a historic weapons stockpiling effort, and calls for a $1.5 trillion defence budget — directly benefiting many of the companies in his portfolio.
Key context: This is from the same 927-page financial disclosure (filed Jun 30) that showed Trump made 327 stock purchases worth up to $12.8M on April 8 (the day before his tariff pause). The defence stock accumulation represents a separate but equally significant finding — these are sustained holdings, not just market-timing trades.
Stocks to Watch (US Only)
| Stock | Impact | Reason |
|---|---|---|
| PLTR | 🟢 Positive (Named) | Trump's brokers bought $500K-$1M in Palantir — benefits directly from $1.5T defence budget push and Iran conflict escalation |
| LMT | 🟢 Positive (Named) | Trump portfolio held Lockheed Martin; F-35, missile systems demand surging with Iran conflict |
| GD | 🟢 Positive (Named) | General Dynamics held in Trump portfolio; Gulfstream (CEO transport) + defence contracts |
| NOC | 🟢 Positive (Inferred) | Northrop Grumman — Trump portfolio likely holds via defence basket; B-21 bomber, missile systems |
| RTX | 🟢 Positive (Inferred) | Raytheon — missile defence systems in high demand from Ukraine + Middle East conflicts |
| HII | 🟢 Positive (Inferred) | Huntington Ingalls — naval shipbuilding, submarine demand driven by Indo-Pacific strategy |
Confidence: 4/5 — Direct from official disclosure analysis by Responsible Statecraft (Quincy Institute), confirmed by RS's independent analysis. Trump's $1.5T defence budget request directly feeds these holdings.
🇺🇸 Trump Declares Iran MoU "Over" — Oil Surges, Defence Stocks Rally
Speaking at the NATO summit in Ankara, Turkey on July 8-9, President Trump told reporters the Memorandum of Understanding with Iran is "over" after Iran struck 85 US military sites in Bahrain and Kuwait. The US launched a second night of airstrikes against Iran, targeting Qeshm Island, Bandar Abbas, and Sirik. Iran attacked three tankers in the Strait of Hormuz on July 6-7.
Market impact:
- Brent crude surged from $72 to $78/barrel
- S&P 500 futures down 0.82%
- Global markets sold off: KOSPI -5.35%, Nifty -2.23%, Nikkei -2.11%
- Defence stocks rallied on escalation fears
Stocks to Watch (US Only)
| Stock | Impact | Reason |
|---|---|---|
| XOM | 🟢 Positive (Inferred) | Oil price surge directly benefits integrated oil; Brent at $78 and rising |
| CVX | 🟢 Positive (Inferred) | Chevron — Gulf exposure; benefits from crude spike |
| OXY | 🟢 Positive (Inferred) | Direct crude exposure; Warren Buffett holding; benefits from Iran disruption |
| LMT | 🟢 Positive (Inferred) | Iran escalation + $1.5T defence budget = direct demand for F-35, missile systems |
| NOC | 🟢 Positive (Inferred) | B-21 bomber, missile defence systems in high demand |
| HAL | 🟢 Positive (Inferred) | Oil services — drilling demand spikes with elevated crude |
| SLB | 🟢 Positive (Inferred) | Schlumberger — global oil services leader; Middle East exposure |
| SPY | 🔴 Negative (Inferred) | Broad market selloff — S&P futures down, risk-off mode |
| SPACE | 🔴 Negative (Named) | SpaceX fell 7% despite Nasdaq 100 addition; Iran war fears hit risk assets |
Confidence: 4/5 — Trump's direct statement from NATO summit, confirmed by multiple outlets (Fortune, Al Jazeera, AP). Oil spike confirmed by market data.
🇺🇸 Trump Accounts Launch — $20B Expected Inflow
The Trump Accounts program officially launched on July 4 (America's 250th anniversary) with 6 million accounts already opened. Each eligible child (born 2025-2028) receives a $1,000 government seed contribution. Wells Fargo estimates $20 billion will flow into the stock market via this program. BNY Mellon is the financial agent; Robinhood is the sole initial trustee/broker; State Street's SPTI ETF ($157B AUM) is the default investment vehicle.
Stocks to Watch (US Only)
| Stock | Impact | Reason |
|---|---|---|
| HOOD | 🟢 Positive (Named) | Robinhood is sole initial trustee/broker; AUM flow catalyst |
| BK | 🟢 Positive (Named) | BNY Mellon manages national infrastructure; strategic mandate |
| STT | 🟢 Positive (Named) | State Street's SPTI ETF ($157B) is default investment; massive AUM flows |
| BLK | ⚠️ Neutral-but-watch | Faces potential pressure on proxy voting from Trump administration |
| V | ⚠️ Neutral-but-watch | Vanguard settled $29.5M Texas lawsuit over climate activism |
Confidence: 5/5 — Official Treasury press release, BNY press release, Wells Fargo estimates, Reuters confirmed.
🇺🇸 Section 301 Forced Labour Hearings — India Defends on Day 3
Day 3 of the USTR Section 301 forced labour hearings (Jul 9, 2026). India formally argued before the USTR panel that the proposed 12.5% tariff is inconsistent and should be resolved through India-US Bilateral Trade Agreement (BTA) negotiations, not unilateral Section 301 tariffs. India pointed out inconsistencies including exemptions for 1,600 products and reduced tariff rates for US-origin textile inputs. Poornima Shenoy (FICCI) and Suchita Sonalika (CII) also opposed the tariffs.
The proposed tariffs would replace the temporary 10% Section 122 tariff expiring July 24, 2026. A decision is expected after the hearings conclude.
Stocks to Watch (US Only)
| Stock | Impact | Reason |
|---|---|---|
| WMT | 🔴 Negative (Inferred) | Walmart sources heavily from India/China; tariff pass-through to US consumers |
| TGT | 🔴 Negative (Inferred) | Same supply chain exposure; India imports face 12.5% headwind |
| COST | 🔴 Negative (Inferred) | Import-dependent retailer; tariff costs pressure margins |
| AMZN | 🔴 Negative (Inferred) | Marketplace imports affected; though diversified supply chain |
| AAPL | ⚠️ Neutral-but-watch | India manufacturing exposure (Foxconn plants in Tamil Nadu); tariff risk on iPhones assembled in India |
Confidence: 3/5 — Still a proposal; final decision expected end-July. Watch for resolution/settlement.