President Donald Trump’s first-quarter 2026 ethics filing reveals a massive reshuffling of his stock portfolio, pivoting heavily toward semiconductors, artificial intelligence, and aerospace while partially cashing out of big tech giants. The disclosure, spanning over 100 pages and listing between $220 million and $750 million in securities transactions, comes from a belated OGE Form 278-T received on May 12 after being signed on May 8.
Key trades: Trump sold Amazon, Meta, and Microsoft shares in the $5 million to $25 million range, while simultaneously making smaller purchases in the same names. New money flowed into chipmakers, with $1 million to $5 million each allocated to Nvidia, Broadcom, Synopsys, Cadence Design Systems, and Texas Instruments. A Boeing position in the same value band was opened on February 10, just days before the administration’s China-focused trade delegation began taking shape—Nvidia CEO Jensen Huang later joined the trip, and Trump conditionally approved H200 chip exports to China.
Other notable buys included Apple, Oracle, ServiceNow, Adobe, Workday, and a $1 million to $5 million Dell stake established on February 10, months before Trump publicly endorsed Dell hardware at a White House event. Intel purchases, flagged as “unsolicited” (no broker recommendation), started in early March, adding to an existing stake that aligns with the U.S. government’s equity position in the company from late 2025.
The filings, which report values in broad bands without exact prices or timing, do not specify who placed the orders. The Trump Organization maintains that investment decisions are managed independently through model portfolios. A more complete picture—including any crypto-related ventures—is expected when the annual financial disclosure is released, potentially revealing the extent of Trump’s involvement in digital assets.
