US President Donald Trump’s latest first-quarter ethics filing runs more than 100 pages and discloses between $220 million and $750 million in securities transactions.
A separate official US Office of Government Ethics filing shows one of the reports carried a late-fee note and was received on May 12, after being signed on May 8.
Under OGE rules, periodic transaction reports must be filed within 30 days of notification, or no later than 45 days after the transaction itself.
The filings report values in broad bands, not exact prices, and they do not say who placed the orders or which account held them.
Filing at a glance
The clearest takeaway from the documents is scale as an official OGE search snippet shows 3,642 securities transactions in the quarter, and the disclosures cover the first three months of 2026.
That makes the filing a snapshot of unusually fast portfolio activity, but not a mark-to-market statement: the form does not show exact profits, exact execution prices or the full portfolio behind the trades.
That limitation matters as under OGE Form 278-T, public filers disclose securities transactions above $1,000 in ranges such as $1,001 to $15,000 or $1 million to $5 million.
The reports do not identify which accounts were used, and some entries suggest a broker acted as agent.
The filings therefore show what moved, when it moved and in what value band, but not the full mechanics behind the order flow.
Nvidia and Boeing were the biggest names
The most eye-catching single trades were the Feb. 10 purchases of Nvidia and Boeing stock, each valued at $1 million to $5 million.
The disclosure also highlighted Intel among the quarter’s biggest trades, reinforcing how heavily the portfolio was tilted toward semiconductors, aerospace, and other sectors closely tied to government policy and spending decisions.
The timing is what made Nvidia and Boeing stand out.
Trump administration officials invited Kelly Ortberg, Larry Culp and other business leaders to join the president’s China trip, with Jensen Huang later joining the delegation at the last minute.
Trump has also agreed to allow Nvidia H200 chip exports to China, though the sales had yet to proceed because of licensing requirements.
Broader mix still points to policy-sensitive sectors
The public PDF snippet for the OGE filing also shows Palantir and Robinhood among the disclosed names.
Robinhood’s presence matters because the company said it will develop and operate the infrastructure for Trump Accounts with BNY and serve as the sole broker-dealer and initial trustee, putting it directly inside a new administration-backed savings program.
The paper trail is notable because it tracks activity in sectors that were already moving close to the administration’s policy calendar.
The broader annual disclosure, which would cover business assets and income from golf resorts and crypto ventures, is expected later this year.
The discretionary-account defense
The Trump Organization has said investment decisions are managed independently and based on model portfolios without Trump’s direct involvement, and the public filings themselves do not name the specific managers behind each trade.
That means one key question remains unanswered: the filing shows when the trades happened, which stocks were involved, and their value ranges, but not who ultimately made the decisions.
In that sense, the disclosure offers less of an explanation and more of a detailed record of just how active the president’s reported trading was during the first quarter.
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