White House says portfolio is independently managed
Shares of software firm Palantir, contracted by the US Department of Defense and Immigration and Customs Enforcement (ICE), were bought and sold on President Trump’s behalf during July, according to his financial disclosure. The same filing, which covers more than 1,000 transactions carried out during the month, also reports between $6.5 million (£4.8 million) and $31 million worth of Microsoft stock sold on Trump’s behalf, alongside purchases of between $165,000 and $400,000 in Microsoft.
Across more than 1,000 trades, shares were bought and sold in AI company Nvidia and in software firm Palantir, a contractor with the US Department of Defense and Immigration and Customs Enforcement (ICE), the filing shows.
The filing also details thousands of dollars’ worth of shares bought and sold in SpaceX, the rocket, satellite and AI company led by Elon Musk, who previously headed the US Department of Government Efficiency. SpaceX listed its shares on the Nasdaq stock market in June. Its share price has fluctuated since, declining sharply in July and August before recovering to trade 14% above its stock market debut.
Shares were also bought and sold in Tesla, Musk’s electric-vehicle maker, on Trump’s behalf, according to the documents.
A White House spokesperson said Trump’s stock and bond portfolio is independently managed by third parties. The spokesperson told the BBC: “Neither President Trump nor any member of his family has any ability to direct, influence or provide input regarding how the portfolio is invested or when investments are bought or sold.
“There are no conflicts of interest.”
Trump has publicly disclosed thousands of stock market trades since returning to the White House in January 2025.