Trump Made Over 1,100 Securities Trades in July: Sold Up to $25 Million Each of Microsoft and Amazon, Major Portfolio Reallocation

President Donald Trump disclosed in a filing released Tuesday that more than 1,100 securities trades were made on his behalf in July, including selling up to $25 million each of Microsoft Corporation (MSFT.US) and Amazon.com, Inc. (AMZN.US) stock, marking another month of heavy trading in his vast investment portfolio. According to an analysis of Trump's latest financial disclosure, the 1,156 buy and sell transactions totaled roughly between $79 million and $270 million. Calculations show total purchases of at least $43.6 million and total sales of at least $35.6 million, appearing to be a broad reallocation of his portfolio. The filing shows the largest transactions were the July 20 sales of $5 million to $25 million each of Microsoft Corporation and Amazon.com, Inc. stock. Three days later, Trump reported buying $100,001 to $250,000 of Microsoft Corporation stock and $1,001 to $15,000 of Amazon.com, Inc. stock. The July 20 records also show the sale of $1 million to $5 million of Oracle Corporation stock, along with the purchase of $500,001 to $1 million of NVIDIA Corporation stock. The filing also shows the sale that day of $250,001 to $500,000 of Northrop Grumman stock. On that day, Trump signed an executive order tightening supply chain requirements for defense contractors and limiting exemptions for procuring certain critical materials from China and other covered countries. The disclosure does not show when the trades occurred or who made the investment decisions. Trump also traded shares of companies led by Elon Musk. He bought $15,001 to $50,000 of SpaceX stock on July 10 and sold $1,001 to $15,000 on July 17. SpaceX went public on June 12 in the largest IPO in history, after a filing showed Trump bought $15,001 to $50,000 on June 23. SpaceX is a major Pentagon contractor and NASA launch services provider, giving Trump a financial interest in a company with substantial business before the federal government. SpaceX also owns Musk's xAI, which holds a Pentagon contract worth up to $200 million. Trump also traded Tesla, Inc. shares multiple times. After buying $100,001 to $250,000 of Tesla, Inc. stock on June 15 and $15,001 to $50,000 the next day, he sold $131,004 to $365,000 of Tesla, Inc. stock across four transactions, then bought another $100,001 to $250,000 on July 27. Musk was Trump's largest donor in 2024 and later served as an adviser in his administration. Although the filing shows activity conducted on Trump's behalf, the broad value ranges obscure his exact holdings. Still, frequent trading has become a hallmark of his second term. In June, Trump disclosed 1,051 transactions totaling between $78.1 million and $263.1 million, including purchases and sales of stocks, bonds and exchange-traded funds. The president's 2025 annual financial disclosure showed more than 21,000 securities transactions across eight accounts, with holdings of at least $858 million, compared with 86 stock trades disclosed in 2017, his first year in office. The White House has repeatedly defended the trades, saying independent advisers manage the portfolio and Trump and his family are not involved. In recent years, however, presidents have typically divested individual stocks or relied on blind trusts or diversified funds to avoid even the appearance of conflicts of interest. White House spokesman Davis Ingle, responding to questions about Trump's latest disclosure, said: "President Trump's stock and bond portfolio is independently managed by third-party Financial Institutions, Inc. President Trump and any of his family members have no ability to direct, influence or provide input on how the portfolio is invested or when investments are bought or sold." The Trump Organization did not immediately respond to a request for comment on the latest disclosure. The July 20 trades were part of a broader rotation that included purchases of $1 million to $5 million each of Intuit Inc., Marvell Technology, Inc., Salesforce, Inc. and Church & Dwight. Trump also bought $250,000 to $500,000 of Taser maker Axon Enterprises, which frequently works with Immigration and Customs Enforcement. Trump also continued shifting money among ETFs. On July 8, Trump disclosed purchases of $1 million to $5 million each of the State Street SPDR Bloomberg International Treasury Bond ETF, the Fidelity MSCI Communication Services Index ETF, the Vanguard Short-Term Bond Index Fund ETF and the Vanguard Dividend Appreciation Index Fund ETF. That same day, he sold $1 million to $5 million each of the iShares U.S. Treasury Bond ETF, the State Street Communication Services Select Sector SPDR ETF and the iShares International Treasury Bond ETF. On July 8, oil prices surged and drove the 10-year Treasury yield higher after Trump said at a NATO summit in Turkey that he believed the ceasefire with Iran was over. Trump also made large purchases of municipal bonds and other bonds. The filing shows he bought $1 million to $5 million each of two Florida Miami-Dade County aviation revenue bonds, a Missouri St. Louis County school district bond and a Main Street natural gas bond.