Trump's Money Managers Executed 1,152 Trades in July, Disclosure Shows

President Donald Trump's money managers executed 1,152 trades on his behalf in July, according to a financial disclosure filed Tuesday, a pace of roughly 50 trades per day that far exceeds his predecessors. The transactions included shares of federal contractors such as SpaceX and RTX, formerly Raytheon, whose industries his administration helps regulate. The disclosure listed sales of as much as $25 million each in Microsoft and Amazon stock. Trump or his managers have executed more than 28,000 trades since his January 2025 inauguration — more than every member of the House and Senate combined, according to a Bloomberg analysis. Unlike Joe Biden and Barack Obama, who held mutual funds and US Treasuries, Trump is the first modern president to decline a blind trust, allowing him to see his managers' trades. The volume has deepened concerns about potential conflicts of interest, though XML Financial Group CEO Brett Bernstein said high turnover alone does not indicate corruption. A White House spokesperson said the portfolio is managed independently through discretionary, model-based accounts.