Donald Trump Made Over 1,100 Stock and Bond Trades Worth Up to $270 Million in July

President Donald Trump executed over 1,100 stock and bond transactions in July, totaling between $79 million and $270 million, according to financial disclosures released Tuesday.

President Donald Trump disclosed a sprawling wave of portfolio activity in a financial filing released on Tuesday, detailing 1,156 securities transactions executed on his behalf throughout July. The trades totaled between roughly 79 million and $270 million, continuing a pattern of heavy investment movement during his second term that has drawn intense scrutiny from ethics watchers and market observers alike.

Massive Microsoft and Amazon Divestments Shape July Trading

The bulk of the president’s July volume centered on major technology holdings. According to a Guardian analysis of the latest disclosure, Trump’s two largest sales occurred on July 20, when he offloaded between $5 million and $25 million each of Amazon and Microsoft stock. Just three days later, however, the portfolio reversed course slightly, reporting smaller purchases of between $100,001 and $250,000 in Microsoft and between $1,001 and $15,000 in Amazon.

The same July 20 trading block captured additional high-profile tech and retail realignments. Trump sold between $1 million and $5 million worth of Oracle and Costco stock, parted with $500,000 to $1 million in Nvidia shares, and purchased up to $5 million worth of Intuit and Salesforce. Overall, the disclosure reveals more than 700 individual sales totaling between $35m and $137m, alongside over 440 purchases ranging from $43.5m to $134m.

Defense Contractor Sales Coincide with Executive Orders

Among the July 20 transactions analyzed by CNBC was a sale of between $250,001 and $500,000 in Northrop Grumman. That specific trade landed on the exact day Trump signed an executive order designed to tighten supply chain requirements for defense contractors and restrict waivers for critical materials sourced from China and other covered nations. The public filing does not specify the exact hour of the trade or identify who made the final investment decision.

The portfolio also registered multiple trades involving companies linked to Elon Musk, who was Trump’s largest financial backer in the 2024 election cycle and later served as an advisor to the administration. Trump purchased between $15,001 and $50,000 of SpaceX shares on July 10 and sold a smaller block between $1,001 and $15,000 on July 17. These followed a June purchase of SpaceX stock following its massive public offering on June 12. In addition, Trump traded Tesla shares repeatedly across four separate transactions in June and July.

White House Defense of Independent Portfolio Management

With federal law permitting presidents, vice-presidents, and members of Congress to trade stocks provided they report them within 45 days, the sheer volume of Trump’s trades stands out against a backdrop where he and Republican allies have championed congressional stock trading bans. Trump made more trades than all of Congress combined between the start of his second term and June.

Donald Trump Made Over 1,100 Stock and Bond Trades Worth Up to $270 Million in July — Photo: CNBC

In response to questions regarding potential conflicts of interest, White House officials defended the financial activity by emphasizing that third parties maintain total control over the assets.

Ingle added that all holdings sit within discretionary accounts utilizing computer-based model portfolios that automatically replicate established benchmarks like the Schwab 1000 index.

Broad Rotation Into Bonds and Exchange-Traded Funds

Beyond individual equities, Trump engaged in substantial movement across exchange-traded funds and municipal debt. On July 8, he bought between $1 million and $5 million each of the State Street SPDR Bloomberg International Treasury Bond ETF, Fidelity MSCI Communication Services Index ETF, Vanguard Short-Term Bond Index Fund ETF, and Vanguard Dividend Appreciation Index Fund ETF.

Stocks, Bonds Waver as Trump’s UN Speech in Focus

Concurrently, he sold off equivalent million-dollar blocks of the iShares U.S. Treasury Bond ETF, State Street Communication Services Select Sector SPDR ETF, and iShares International Treasury Bond ETF. Those July 8 sales coincided with climbing 10-year yields driven by soaring oil prices, sparked after Trump stated at a NATO summit in Turkey that he believed a ceasefire with Iran had collapsed.

The filing also underscored a heavy preference for fixed income, noting million-dollar purchases of Miami-Dade County aviation revenue bonds, alongside smaller strategic plays such as a $250,000 to $500,000 investment in Axon Enterprises, a taser manufacturer that frequently contracts with Immigration and Customs Enforcement.