Record / E-2026-0004
Office of Government Ethics publishes first quarter 2026 securities trading disclosure
Two Form 278-T periodic transaction reports signed by Trump on May 8, 2026 became public on May 14, 2026, covering trading from January 6 through March 30, 2026. The equities filing runs 113 pages and lists 3,642 transactions across 1,026 companies and funds, comprising 2,346 purchases and 1,296 sales. A second filing lists 69 further transactions, primarily municipal and revenue bonds, for a combined 3,711 transactions with a disclosed cumulative value between $220 million and $750 million. Both filings carry a reviewing official's annotation that the filer paid a late fee.
Context
This entry is marked verified_modified for three reasons. First, transaction counts differ by basis and this entry states which: 3,642 is the equities filing alone, 69 is the fixed income filing, and 3,711 is the combined figure reported by Fortune and Bloomberg, which matches the sum. The cumulative value range of $220 million to $750 million covers both filings and was reported by Reuters through CNBC; CBS reported a narrower range of $212 million to $695 million for the equities filing alone. Second, the widely repeated claim that this quarter's trading exceeded that of Congress is not supported by any dataset located: it traces to a remark by a podcast host relayed through an aggregator, and it is not published here. A different and better sourced comparison exists on the record: in an August 12, 2026 letter, Senator Elizabeth Warren and colleagues wrote that 2025 trading of reportedly more than 14,000 trades worth up to $1.06 billion exceeded that of all 535 members of Congress combined, which is an annual rather than a quarterly comparison and is a statement by the letter's signers. Third, the filings became public on May 14, 2026 after being received by the Office of Government Ethics on May 12 and certified May 13. No charges have been brought and no court has ruled on the trading, so this entry makes no characterization of its legality.
Response on the record
White House spokesman Davis Ingle said Trump's assets are in a trust managed by his children and that there are no conflicts of interest, per CNBC. The Trump Organization states that the holdings are independently managed by third-party financial institutions and that trades are executed through automated, model-based portfolios and direct indexing strategies with no input from Trump, his family, or his company, per Fortune and Bloomberg. At a May 19, 2026 White House press briefing, Vice President JD Vance said the president does not make the trades himself and that independent wealth advisors manage his money.
Sources
The document identifier is the citation. The URL is a resolution mechanism, and the archived copy is what the citation resolves to when the live link dies.
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OGE Form 278-T periodic transaction report, equities filing
OGE PAS Index 405E4EC4E27BE8D185258DF7002DD1C0; signed May 8, 2026; received May 12, 2026; 113 pages
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OGE Form 278-T periodic transaction report, fixed income filing
OGE PAS Index 5326D3AF5BE7C25385258DF7002DD1B7; signed May 8, 2026; received May 12, 2026; 5 pages
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3,600 stock trades in 3 months: Breaking down Trump's flurry of investment moves, CBS News
CBS News, Becket, Manthey, and Ingram
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Trump's 3,711 trades point to multiple stock-market strategies, Fortune
Fortune and Bloomberg; Lee, Ngo, Popina, and Griffin; May 23, 2026
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Trump went big on tech stocks in first quarter of 2026, new filings show, CNBC
CNBC, May 15, 2026, citing Reuters for the cumulative value range
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Trump misses deadline to disclose tens of millions of dollars in stock trades, Washington Post
Washington Post, Emily Davies and Cat Zakrzewski, May 15, 2026
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Letter to President Trump regarding stock trades, Senator Elizabeth Warren and others
Letter dated August 12, 2026, response requested by August 28, 2026
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Vance defends stock trading spree in Trump financial filings, CNBC
CNBC, Kevin Breuninger, May 19, 2026