TLDR
- Presidential ethics filing for Q1 2026 reveals Trump reduced major holdings in Amazon, Meta, and Microsoft
- New semiconductor positions valued at $1M–$5M each established in Nvidia, Broadcom, Synopsys, Cadence, and Texas Instruments
- Additional technology investments made in Apple, Oracle, ServiceNow, Adobe, and Workday
- Multiple Intel purchases executed throughout March, increasing existing stake
- Dell position worth $1M–$5M initiated on February 10, weeks before public presidential endorsement
President Donald Trump executed a significant portfolio restructuring during the opening quarter of 2026, divesting from major technology platforms while establishing positions in semiconductor manufacturers and AI-related stocks, newly released federal ethics documents reveal.
The mandatory OGE Form 278-T filing, which documents Q1 2026 transactions, indicates Trump liquidated substantial holdings in Amazon, Meta, and Microsoft—each disposal falling within the $5 million to $25 million valuation bracket.
These weren’t complete exits, however. The documentation simultaneously reveals smaller acquisitions in the same three companies occurring during roughly the same timeframe. Meta acquisitions ranged from $1,001 up to $500,000, while Amazon and Microsoft purchases spanned from $1,001 to $5 million.
These simultaneous selling and buying activities indicate portfolio rebalancing rather than a complete abandonment of these technology leaders.
The more significant development involves Trump’s capital allocation into new holdings.
Semiconductor Sector Becomes Investment Priority
Trump established fresh positions in Nvidia, Broadcom, Synopsys, Cadence Design Systems, and Texas Instruments. Each investment carried a valuation between $1 million and $5 million.
Nvidia has delivered exceptional returns recently, climbing approximately 20% over the past month and achieving record highs on a split-adjusted basis. While the precise timing of Trump’s Nvidia acquisition remains undisclosed, the stock demonstrated strong momentum throughout the filing period.
Wall Street maintains a Strong Buy consensus on Nvidia based on assessments from 42 analysts, establishing an average price objective of $274.38.
Within the software segment, Trump initiated positions in Apple, Oracle, ServiceNow, Adobe, and Workday. These investments similarly ranged from $1 million to $5 million in value.
Strategic Additions in Dell and Intel
Trump established a $1 million to $5 million stake in Dell Class C shares on February 10, 2026. Several months afterward, during early May, he publicly championed Dell products during a White House presentation.
He simultaneously expanded his pre-existing Intel position. These acquisitions commenced in early March, with multiple transactions designated as “unsolicited,” indicating they weren’t broker-recommended. The federal government secured a substantial Intel equity position in late 2025.
Numerous portfolio transactions received the unsolicited classification. The most significant unsolicited trades involved Apple, Microsoft, and Amazon, each reaching the $1 million to $5 million threshold during March.
Trump’s holdings operate within a trust administered by his children. While filings confirm broker involvement in certain transactions, they don’t identify specific accounts or who authorized individual trades.
Form 278-T documents report transaction values using broad ranges. Exact purchase prices, specific timing details, or realized gains remain undisclosed.
A comprehensive overview of Trump’s financial position should emerge when his annual financial disclosure becomes available later this year.
