Trump Q1 « Hoạt Động Chơi Chứng Khoán » Bị Phơi Bày, Đã Mua Mới Những Cổ Phiếu Này

Original source: Wall Street Sights

The latest financial disclosure documents released by the U.S. government have 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 transactions in the first three months of 2026. The total transaction volume was at least $220 million, and based on the upper end of the disclosed range, could be as high as $750 million, involving thousands of securities trades related to major U.S. listed companies.

Media outlets citing the OGE disclosure documents reported that these transactions span multiple sectors including technology, finance, and communications, featuring core U.S. stocks such as Microsoft, Apple, NVIDIA, Meta, Amazon, Oracle, Broadcom, Goldman Sachs, and Bank of America.

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

Trump's assets are currently held in a trust controlled by his children, while some transaction records show they were executed by brokers acting as agents. In response to the aforementioned filing documents, the White House Press Office redirected media inquiries to the Trump Organization, whose legal counsel did not respond to the media.

The White House stated last year that Trump himself and his family did not directly participate in specific investment decisions, explaining that related assets are managed by third-party financial institutions and have passed federal ethics review.

However, against the backdrop of the Trump administration's frequent issuance of tariffs, tech regulations, fiscal stimulus, and industrial policies, this presidential transaction list disclosed on Thursday is bound to swiftly ignite intense debate regarding both market and ethical implications.

Reduced Holdings in Three Tech Giants, Significant Sale of Amazon, Meta, and Microsoft

The documents show that Trump executed the highest-level reduction operations on three core tech stocks in his portfolio during the first quarter.

The sale transactions for Amazon, Meta, and Microsoft all fell into the highest disclosed range category — single transactions between $5 million and $25 million. This indicates that the reduction scale for these three companies represented the most prominent magnitude within his overall trading activity.

It is noteworthy that the reductions do not imply complete liquidation. The documents also show that Trump retained smaller buy operations in all three companies:

• Meta's multiple purchases occurred in early 2026, with individual transaction amounts ranging from $1,001 to $500,000;
• The purchase sizes for Amazon and Microsoft ranged between $1,001 and $5 million.

This "sell big, buy small" pattern indicates a certain degree of active exposure management towards these three positions, rather than a straightforward directional liquidation.

Significant New Positions in the Semiconductor Sector, Led by NVIDIA and Broadcom

While reducing some existing holdings, Trump established several new semiconductor positions in the first quarter, marking one of the most market-watched directional signals in this disclosure.

According to the documents, NVIDIA and Broadcom each received new positions valued between $1 million and $5 million. Texas Instruments, chip design EDA software provider Synopsys, and Cadence Design Systems also appeared in the new purchase records within this magnitude.

Apple also received substantial purchases, with individual transaction sizes also reaching the $1 million to $5 million range.

The documents specifically noted that Apple, Microsoft, and Amazon all recorded "unsolicited" transactions ranging from $1 million to $5 million. These trades were initiated by brokers without receiving formal client instructions, concentrated mainly in March.

Buying the Dip in Software Stocks, Entering Oracle, Adobe, ServiceNow, Workday

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

Documents show new position records exceeding $1 million for Oracle, ServiceNow, Adobe, and Workday.

The disclosure documents indicate that these software stock purchases were made against a backdrop of significant sector discounting due to AI-related disruption fears and declining earnings visibility.

This operation's timing closely aligns with the overall valuation correction of the software sector in the first quarter. The market generally believes that the substitution pressure from large AI models on traditional enterprise software vendors is one of the core factors suppressing the sector's performance.

Dell and Intel, Two Transactions Attract Extra Attention

Two other transactions in the document stand out due to their unique context.

For Dell Technologies Class C shares, purchase records show Trump established a position valued between $1 million and $5 million on February 10, 2026.

The disclosure document points out that this purchase predates Trump's public endorsement of Dell's hardware products during a White House event in early May this year. The chronological sequence has prompted external inquiries into the relationship between policy signals and personal trading.

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

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

Suspicions of Information Advantage, Market Trust Faces Deeper Test

The reason this disclosure quickly sparked widespread attention lies in the frequent occurrence of highly synchronized "policy announcements and market shifts" in the U.S. market since Trump's second term.

Earlier this year, reports indicated instances of "abnormally precise timing" in trades before major policy announcements by the Trump administration, involving options, commodity futures, and prediction market bets, raising concerns among legal experts about the potential for insider information leakage.

Trump himself has previously faced questioning from Democratic lawmakers for publicly stating "now is a good time to buy" before tariff policy adjustments. Some lawmakers have called for investigations into potential market manipulation or insider trading.

Analysts point out that the core controversy extends beyond whether the trades themselves were compliant, focusing on whether:

• The President possesses information unavailable to ordinary investors;
• His asset allocation has a potential link with policy directions;
• The timing of policy releases could potentially influence the wealth fluctuations of the President's family.

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

Legal and regulatory experts in Washington worry that if the market begins to generally believe policymakers are also active traders, the fair trading principles 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. Investors' decision-making logic could shift from fundamental economic analysis to speculative positioning based on the President's statements and political actions, further increasing the political component of U.S. stock market volatility.

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

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