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How Trump’s ‘unusual’ brokerage account traded around his own market-moving decisions—selling hyperscalers and buying energy stocks during the war

The filings show the account sold major tech holdings and shifted into software, gold, energy and Treasuries as tariffs and Iran events moved markets.

  • On May 14, the Office of Government Ethics released filings documenting 3,642 trades in Donald Trump's brokerage account during the first three months of 2026, with an estimated volume between $220 million and $750 million.
  • A Trump Organization spokesperson stated that third-party institutions maintain "sole and exclusive authority" over all investment decisions, while the White House insisted "there are no conflicts of interest."
  • Filings show the account sold Microsoft and Amazon on Feb. 10, the same day an AI essay predicted market downturn; during the Iran war, it purchased energy stocks like Chevron and Lockheed Martin.
  • Matthew Tuttle, chief executive officer of Tuttle Capital Management, called the activity "almost like a hedge fund with massive algo trades," as analysts warn the roughly 60 trades per day create potential conflicts of interest.
  • While there is no evidence of illegality, critics argue the president possesses confidential information that could influence market-moving decisions, prompting calls for greater scrutiny of presidential stock portfolio transparency in America.
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A president as a major investor: New figures on Donald Trump's stock business are causing a stir on Wall Street – and sharp criticism from financial experts. It's about thousands of trades, hundreds of millions of dollars – and companies with direct government contact.

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Fortune broke the news in New York, United States on Saturday, May 16, 2026.
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