Trump 1분기 '주식 투자' 공개, 이 종목들 새로 매수

Original Source: Wall Street Sights

The U.S. government's latest disclosure document has thrust capital market operations during Trump's second presidential term into the spotlight.

According to financial disclosure documents made public by the U.S. Office of Government Ethics (OGE) on Thursday, April 14, Trump conducted large-scale securities trading in the first three months of 2026, with total transaction volume reaching at least $220 million and potentially as high as $750 million based on the upper end of the disclosed range, involving thousands of securities transactions related to major U.S. listed companies.

Media citing the OGE disclosure documents stated that these transactions spanned multiple sectors including technology, finance, and communications, encompassing core U.S. stock assets such as Microsoft, Apple, Nvidia, Meta, Amazon, Oracle, Broadcom, Goldman Sachs, and Bank of America.

Because the U.S. federal disclosure system only requires officials to declare transaction ranges, without the need to disclose specific prices, timing, or profit/loss details, the public cannot accurately determine the actual scale of returns.

Trump's assets are currently held in trusts controlled by his children, while some transaction records show brokers acting as agents for execution. In response to the aforementioned filings, the White House Press Office redirected media inquiries to the Trump Organization, whose legal counsel did not respond to the media.

The White House emphasized last year that Trump himself and his family were not directly involved in specific investment decisions; the relevant assets are managed by third-party financial institutions and have passed federal ethics reviews.

However, against the backdrop of the Trump administration's frequent introduction of tariffs, technology regulations, fiscal stimulus, and industrial policies, this presidential transaction list disclosed on Thursday is bound to quickly spark intense debate on both market and ethical fronts.

Reducing Holdings of Three Tech Giants, Amazon, Meta, Microsoft Sold on a Large Scale

The documents show that in the first quarter, Trump implemented the highest level of reduction operations for three core tech stocks in his portfolio.

The sale transactions for Amazon, Meta, and Microsoft all fell into the highest tier of the disclosure range—$5 million to $25 million per transaction. This indicates that the scale of reduction for these three companies represented the most prominent magnitude within his overall trading activities.

Notably, the reduction does not imply a complete liquidation. The documents simultaneously show that Trump retained smaller buy operations in all three companies:

• Meta had multiple purchases occurring in early 2026, with individual transaction ranges between $1,001 and $500,000.
• The purchase scale for Amazon and Microsoft fell between $1,001 and $5 million.

This "sell large, buy small" operational pattern suggests a degree of active exposure management for these three positions, rather than a simple directional clear-out.

Significant New Positions in Semiconductor Sector, Led by Nvidia and Broadcom

Alongside reducing some existing positions, Trump established a set of new semiconductor holdings in the first quarter, one of the most watched directional signals from this disclosure.

The documents show that both Nvidia and Broadcom received new positions in the range of $1 million to $5 million. Similarly, Texas Instruments, chip design EDA software provider Synopsys, and Cadence Design Systems also appeared in new purchase records of this magnitude.

Apple also received large-scale purchases, with individual transactions also reaching between $1 million and $5 million.

The documents specifically point out that Apple, Microsoft, and Amazon recorded "unsolicited" transactions ranging from $1 million to $5 million. Such transactions are initiated by brokers without receiving formal customer instructions, and were primarily concentrated in March.

Buying the Dip in Software Stocks, Oracle, Adobe, ServiceNow, Workday All Entered

Another noteworthy structural operation in this disclosure is the concentrated buying of enterprise software stocks.

The documents show that Oracle, ServiceNow, Adobe, and Workday all have new position records at magnitudes over one million dollars.

The disclosure documents indicate that the backdrop for these software stock purchases is the significant discount in the sector resulting from concerns over AI-related disruption and decreased earnings visibility.

The timing of these operations closely aligns with the overall valuation correction in the software sector during the first quarter. Market consensus is that the substitution pressure of large AI models on traditional enterprise software companies is one of the core factors suppressing the sector's performance.

Dell and Intel, Two Transactions Draw Extra Attention

Two other transactions in the documents are particularly noteworthy due to their unique background.

A purchase record of Dell Technologies Class C shares shows that Trump established a position worth $1 million to $5 million on February 10, 2026.

The disclosure document points out that this purchase predates Trump's own public endorsement of Dell's hardware products during a White House event in early May of this year. The chronological order of these two events has led external observers to question the relationship between policy signals and personal transactions.

Regarding Intel, the documents show that Trump began increasing his stake in Intel shares starting in early March 2026 through a series of transactions, with multiple trades marked as "unsolicited."

This action follows the U.S. government's decision at the end of 2025 to acquire a significant equity stake in this domestic chip manufacturer.

Concerns over Information Advantage, Market Trust Faces a Deeper Test

The reason this disclosure quickly sparked widespread attention is the backdrop of multiple instances of highly synchronized "policy news—market anomalies" in the U.S. market since the start of Trump's second term.

Earlier this year, reports indicated that trading cases with "uncannily precise timing" existed before major policy announcements by the Trump administration, involving options, commodity futures, and prediction market bets, raising concerns among legal experts about the leakage of insider information.

Trump himself had previously faced questioning from Democratic lawmakers for publicly stating "Now is a good time to buy" before adjustments to tariff policies, with some lawmakers calling for investigations into potential market manipulation or insider trading.

Analysts point out that the core controversy extends beyond whether the transactions themselves are compliant, focusing instead on:

• Whether the President possesses information inaccessible to ordinary investors;
• Whether his asset allocation has a potential correlation with policy directions;
• And whether the timing of policy announcements could impact the wealth changes of the President's family.

For financial markets, the deeper risk lies in the erosion of institutional trust.

Legal and regulatory circles in Washington worry that if the market begins to widely believe that policymakers are also active traders, the principles of fair trading long established in U.S. capital markets will face substantial pressure.

Some Wall Street figures warn this could lead to a more pronounced "politicization of trading" trend, where investors' decision-making logic shifts from analyzing economic fundamentals to speculative positioning based on the President's statements and political moves, further elevating the politicization of volatility in U.S. stocks.

According to U.S. federal ethics regulations, Trump's comprehensive annual financial disclosure is expected to be made public in the coming months, at which point the public may gain a more complete picture of his financial status.

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