President Donald Trump disclosed just over 1,000 financial transactions for the month of June in what appears to be broad reshuffling of his portfolio.
The president rotated in and out of stocks, bonds and exchange-traded funds throughout the month. The transactions totaled between $78.1 million and $263.1 million, according to Trump’s latest filing on Aug. 22, which shows a range for each sale or purchase rather than an exact figure. His securities purchases topped $49 million, while his sales totaled at least $28.5 million.
While the filing gives a window into the investment moves made on behalf of Trump, it is not a clear picture of his total portfolio holdings. The amount bought or sold isn’t specific, and there is no indication of how much Trump owns of any particular security.
Of the 1,051 transactions, the largest was the $5 million to $25 million sale of Vanguard Dividend Appreciation Index Fund ETF shares on June 22. That same day he bought between $1 million and $5 million of both Fidelity National Information Services and Home Depot. Those were the largest of several purchases of the stocks in June, although he also logged some sales of Fidelity as well.
Trump sold between $1 million and $5 million worth of shares of both Meta and Motorola on June 18, but snapped up the same range of shares in each of Berkshire Hathaway, Cintas, Visa and Mastercard that same day. Those moves came a day after the market sold off on concerns over the path of monetary policy. June 17 was the conclusion of Federal Reserve Chairman Kevin Warsh‘s first meeting. Stocks bounced back on June 18..
Other purchases in June include a number of ETFs, including the iShares U.S. Treasury Bond ETF, State Street Technology Select Sector SPDR ETF and the iShares GSCI Commodity Dynamic Roll Strategy ETF. Trump also purchased several municipal bonds.
The president’s sales included the Vanguard Short-Term Bond Index Fund ETF, State Street Consumer Discretionary Select Sector SPDR ETF and the Vanguard FTSE Europe ETF.
Those ETF transactions spanned just over $1 million to $5 million. In total, there were 25 sales and purchases of stocks, bonds and ETFs in that range. The remaining transactions were broken down into different buckets $1 million and under. The filings only require Trump to disclose securities transactions over $1,000.
The president also moved in and out of defense contractor Palantir Technologies, buying between $1,001 and $15,000 on June 3. He sold between $15,001 and $50,000 on June 16 and another $500,001 and $1 million worth on June 18. The U.S. and Iran agreed to a peace deal on June 14. He bought a small amount again on June 23.
Two other defense companies, RTX and Northrop Grumman were also named in the president’s disclosure. Trump bought between $100,001 and $250,000 worth of RTX shares on June 12, and sold between $1,001 and $15,000 of Northrop Grumman the same day. He then bought Northrop on June 23 and sold it again on June 24.
He also bought and sold Coinbase throughout the month amid Bitcoin’s share decline. He offloaded between $116,003 and $315,000 worth of shares between June 12 and June 23, and then bought between $50,001 and $100,000 on June 24.
The White House did not immediately respond to a request for comment. In May, spokesman Davis Ingle told CNBC, after Trump’s disclosure of his first-quarter transactions, that the president’s assets are held in a trust managed by his children.
“There are no conflicts of interest,” spokesman Davis Ingle said in the statement at the time. “President Trump only acts in the best interests of the American public — which is why they overwhelmingly re-elected him to this office, despite years of lies and false accusations against him and his businesses from the fake news media.”
— CNBC’s Kevin Breuninger and Dan Mangan contributed reporting.
Read the original article here