🇺🇸 Trump's $858M Portfolio — 21,000 Trades, CNBC Reveals Custodians
President Trump's 2025 annual financial disclosure (filed with the Office of Government Ethics) reveals an investment portfolio of at least $858 million across 8 accounts, with 21,000+ securities trades executed in 2025 — up from ~500 trades in his entire first term. CNBC has linked JPMorgan Chase, Charles Schwab, UBS, and Stephens Inc. as custodians/managers of 4 of the 8 accounts.
Key Portfolio Facts
- Total assets disclosed: ≥$858M (up from ≥$237M a year earlier)
- Trading volume: 21,000+ trades in 2025 — ~85/day
- Top account (Schwab #7): ~$302M, ~10,500 trades, heavy in AAPL, MSFT, NVDA
- Largest non-DJT holdings: GOOGL (
$40M), AAPL ($36M), NVDA ($35M), AVGO ($24M) - Defence stock purchases: Palantir ($1.6M-$3.9M), LMT, GD, KTOS, GE, HON, TDG, BA, HWM, LHX
- Crypto income: $1.4B from World Liberty Financial, $TRUMP Coin
- Key insight: "Copy trade" effect amplifies moves in Trump's disclosed holdings
Portfolio Performance
Trump's portfolio significantly outperformed the S&P 500. His advisers bought $1M-$5M each in AMZN, AAPL, AVGO, MSFT, and NVDA on the day the White House released its AI Action Plan (July 2025). Trades also coincided with market-moving events, including purchases ahead of Trump's public Palantir endorsement.
Stocks to Watch
| Stock | Impact | Reason |
|---|---|---|
| JPM | 🟢 BUY | Named as Trump's custodian (Account #5). Institutional business validation. |
| SCHW | 🟢 BUY | Schwab manages Trump's largest disclosed account (~$302M, Account #6/7). Brand validation among UHNW clients. |
| UBS | 🟡 HOLD | Custodian for Account #3. Reputational risk from Trump ties offsets fee revenue. |
| AAPL | 🟢 BUY | Trump's advisers bought $1M-$5M on AI Action Plan day. Copy-trade effect. |
| MSFT | 🟢 BUY | Same AI Action Plan day purchase. Mega-cap tech safe haven. |
| NVDA | 🟡 HOLD | Trump holds large position but faces headwinds from KOSPI/China DUV crash. |
| GOOGL | 🟢 BUY | Trump's largest non-DJT equity holding (~$40.1M). |
| AVGO | 🟢 BUY | Top 5 holding ($24M). Beneficiary of AI infrastructure spend. |
| PLTR | 🟢 BUY | Trump publicly endorsed Palantir's war-fighting capabilities. Defence contracts tailwind. |
| LMT | 🟢 BUY | Defence procurement acceleration under Trump admin. Trump portfolio includes LMT. |
| BA | 🟡 HOLD | Trump portfolio includes Boeing. Defence orders positive, but commercial aerospace headwinds. |
| GE | 🟢 BUY | GE Aerospace benefits from defence cycle + Trump portfolio position. |
| HON | 🟢 BUY | Honeywell in Trump defence basket. Diversified industrial + defence exposure. |
| HOOD | 🟡 HOLD | Beneficiary of retail copy-trade volume as Trump's disclosure goes viral. |
| BK | 🟡 HOLD | Custodian/trustee services for political figures could increase. |
Risk Factors
- Conflict of interest scrutiny: CNBC's exposé on Trump's banking ties (JPM, Schwab, UBS) may trigger regulatory/political backlash
- "Automated strategy" claim: Trump Organization says trades are fully discretionary/managed by institutions, but timing coincidences with market-moving events raise questions
- Schwab concentration risk: ~$302M in a single Schwab account; any regulatory action could affect relationship
- Copy-trade saturation risk: Once widely known, the "Trump copy trade" may become crowded and lose edge