WASHINGTON, D.C. — President Donald Trump disclosed in May 2026 that his trust actively traded individual stocks during the first quarter of 2026, including purchases in defense and energy companies while overseeing related federal contracts and policy. His most recent federal financial disclosure form, filed that same month, revealed more than 3,700 trades executed between January and March 2026.

Among the disclosed transactions were purchases on March 23, 2026, of shares in Phillips 66, ExxonMobil, Chevron, Lockheed Martin, and General Dynamics. Since January 2026, Trump’s accounts also made nine purchases of Palantir Technologies stock valued at up to $680,000. The company holds a $1.3 billion Pentagon contract under the Trump administration to develop artificial intelligence systems for military operations. Trump also purchased Nvidia stock during the first quarter of 2026.

On April 4, 2026, Trump posted on TRUTH Social: 'Palantir Technologies has proven to have great war-fighting capabilities and equipment. Just ask our enemies.' Palantir stock regained more than its lost value within 10 days of the post, according to market data.

The financial disclosure form does not list specific trade amounts, only broad value ranges. In 2025, Trump’s accounts traded almost exclusively in municipal and corporate bonds, but activity shifted to individual equities at the start of 2026.

The Trump Organization stated that President Trump’s investment holdings are maintained in fully discretionary accounts managed by independent third-party financial institutions. However, Dan Alexander, a Forbes senior editor, reported that Trump transferred his assets into a trust that is not blind and that his children retain day-to-day decision-making authority over those assets.

Every U.S. president since Ronald Reagan has either placed assets in a blind trust or sold off stocks to avoid conflicts of interest. The federal financial conflict of interest statute does not apply to the president, vice president, or members of Congress, according to Richard Painter, former White House ethics lawyer. In his 2026 State of the Union address, Trump supported efforts to ban stock trading by members of Congress.