Trump's investment account made thousands of trades in June, with financial stocks becoming the main focus.

In June, Trump's investment account executed over a thousand stock trades, with the financial sector becoming the largest area of investment, while the White House insists that the president himself had no knowledge of the trading decisions. According to a report by the Wall Street Journal on August 22, based on the latest government disclosure documents, President Trumps investment account completed more than 1,000 stock trades in June of this year, with more than 550 purchases and over 450 sales. His total stock purchases exceeded $49 million, while the total sales amounted to at least $28.5 million. The document was publicly released on Saturday local time. The White House promptly stated that the president played no role in the transactions mentioned above, and all operations were executed automatically by an independent manager through a computer model to replicate the performance of mainstream stock indices. June 18: Significant buying and selling occurred on the same day The disclosed documents indicate that June 18 was the day with the most concentrated trading activity for the month. On that day, Trump's account purchased over $1 million worth of stocks in Berkshire Hathaway, Visa, and Mastercardeach of which had previously been traded in that account. On the same day, the account also sold over $1 million worth of stocks in Meta Platforms and Motorola. A noteworthy timeline: the day before June 18, on June 17, Trump signed a temporary peace agreement with Iran in Versailles, France. Financial stocks have replaced tech stocks as the focus of investments in June In the first quarter of this year, Trump's account heavily bet on tech stocks, but in June, the largest investment direction clearly shifted towards financial institutions. Berkshire Hathaway, Visa, and Mastercard all belong to the financial or financial-related sector, and all three purchases reached over a million dollars. This change aligns with shifts in market conditionspost the signing of the Iran peace agreement, market risk appetite adjusted, showing signs that funds were flowing towards defensive and value-oriented sectors. White House: The president has "no influence" over trading In response to ongoing concerns about conflicts of interest, White House spokesperson Davis Ingle made it clear in an email: Neither President Trump himself nor any of his family members have the ability to guide, influence, or provide any advice on the allocation of the investment portfolio or the timing of buys and sells. All investment decisions are made entirely by independent managers. Ingle further explained: The presidents stock and bond portfolio is independently managed by a third-party financial institution, with all holdings placed in a fully discretionary account, and investments are made through a computer-based model portfolio that automatically replicates recognized indices, such as the Charles Schwab 1000 Index. This statement from the White House is consistent with the strategy previously employed by the Trump family. Reports indicate that since Trump returned to the White House in early 2025, the family has shifted towards automated trading strategies. A spokesperson for the Trump Organization previously stated that this approach was adopted to alleviate concerns over potential conflicts of interest. Direct indexing strategy: The logic behind frequent trading The over a thousand trades can be explained by technical aspects. One of the strategies mentioned by the White House is "direct indexing"which involves buying individual stocks to track the performance of a particular index, while using losing positions to offset capital gains taxes. The characteristic of this strategy is the necessity for continuous and substantial buying and selling of individual stocks. In simple terms, this is akin to "manually" holding an index fund while allowing for more precise optimization in tax matters. Frequent trading is an inherent mechanism of this strategy, rather than a product of active market timing. Trumps investment account is held in a revocable trust overseen by his eldest son, Donald Trump Jr. Earlier this year, a 900-page document disclosed that this account completed over 21,000 trades for the entire year of 2024. Trump's asset appreciation in 2025 exceeded $2 billion, largely sourced from his cryptocurrency-related investments. This article is reposted from the Wall Street Insight APP, author: Long Yue; Edited by Song Zhiying.