Before he entered the White House, President Trump was a real-estate developer and speculator. Lately, his fortune has been wagered on some Big Tech stocks.
Money managers for the president made more than 3,700 trades in the first quarter, including million-dollar purchases of Nvidia, Dell and other Big Tech stocks. Trump’s managers pared his holdings in Microsoft and Amazon with sizable sales in the quarter.
The disclosures, made by the U.S. Office of Government Ethics, showed the pace of trading on the president’s behalf far exceeded previous quarters. In a statement, the Trump Organization said the president’s investments were independently managed by several financial institutions.
“Neither President Trump, his family, nor The Trump Organization plays any role in selecting, directing, or approving specific investments,” the statement said. “They receive no advance notice of trading activity and provide no input regarding investment decisions or portfolio management.”
Here is a look at four tech stocks that the accounts traded in the first quarter.
Nvidia
The accounts purchased at least $1.75 million of Nvidia’s stock in the quarter, including $500,000 on Jan. 6. A week later, the administration cleared the way for Nvidia to send its H200 artificial-intelligence chips to China. Last week, Trump invited Nvidia CEO Jensen Huang to travel aboard Air Force One for the state visit to China.
Oracle
The president’s accounts disclosed more than a dozen transactions in Oracle , including a sale of at least $1 million of the stock on Jan. 6. Oracle officially took a stake in TikTok’s U.S. operations on Jan. 23, in a deal helped by Trump’s delayed enforcement of a ban of the social-media platform.
Microsoft
On Jan. 12, the president announced that Microsoft had pledged to manage utility costs at its artificial-intelligence data centers to avoid squeezing American ratepayers. “Thank you, and congratulations to Microsoft!” he wrote in a post on Truth Social . Around a month later, on Feb. 10, his accounts unloaded at least $5 million of his holding in Microsoft.
Dell
On Feb. 10, Trump’s accounts bought shares of Dell in a transaction worth between $1 million and $5 million. Around a week later while speaking to steelworkers in Georgia, Trump praised the PC maker’s chief executive, commending Michael Dell and his wife for jump-starting the ‘Trump Accounts’ program . He told the crowd to “go out and buy a Dell computer.”
Write to Jared Mitovich at jared.mitovich@wsj.com and Kara Dapena at kara.dapena@wsj.com
