Trump Discloses 1,100 July Trades Including Heavy Sales of Microsoft and Amazon

Investment accounts managed on behalf of President Donald Trump executed 1,156 securities transactions in July, led by multi-million-dollar sales of Microsoft and Amazon shares, according to a financial disclosure analysis reported by CNBC Business (https://www.cnbc.com/2026/09/22/trump-trades-microsoft-amazon-july-financial-disclosure.html). The monthly trading volume totaled between roughly $79 million and $270 million, with purchases accounting for at least $43.6 million and sales totaling at least $35.6 million.

The largest individual transactions took place on July 20, when the portfolio sold between $5 million and $25 million each of Microsoft and Amazon stock. Three days later, on July 23, the disclosure listed purchases of $100,001 to $250,000 in Microsoft and $1,001 to $15,000 in Amazon. On the same July 20 trade date, the portfolio offloaded between $1 million and $5 million of Oracle equity while purchasing between $500,001 and $1 million of Nvidia.

Additional July 20 purchases included between $1 million and $5 million each in enterprise and tech companies Intuit, Marvell Technology, and Salesforce, as well as consumer goods company Church & Dwight. Accounts also bought between $250,000 and $500,000 of taser manufacturer Axon Enterprises, a frequent contractor for Immigration and Customs Enforcement. The same day, the portfolio sold between $250,001 and $500,000 of defense contractor Northrop Grumman, coinciding with Trump signing an executive order to tighten defense supply-chain requirements and restrict critical material waivers from China and other covered nations. The disclosure does not specify execution times or the individuals who made the trade decisions.

The active volume aligns with a broader pattern in Trump's second term, though broad reporting bands obscure exact holding amounts. Trump disclosed 1,051 trades in June totaling between $78.1 million and $263.1 million. His 2025 annual disclosure showed more than 21,000 securities transactions across eight accounts holding at least $858 million, compared with 86 transactions reported in 2017 during his first year in office.

The White House stated that third-party institutions manage the portfolio independently. "President Trump's stock and bond portfolio is independently managed by third-party financial institutions," White House spokesman Davis Ingle told CNBC. "Neither President Trump nor any member of his family has any ability to direct, influence, or provide input regarding how the portfolio is invested or when investments are bought or sold." The Trump Organization did not immediately respond to CNBC's request for comment.

The filings also revealed extensive reallocation across fixed-income and exchange-traded products. On July 8, the portfolio purchased between $1 million and $5 million each in the State Street SPDR Bloomberg International Treasury Bond ETF, Fidelity MSCI Communication Services Index ETF, Vanguard Short-Term Bond Index Fund ETF, and Vanguard Dividend Appreciation Index Fund ETF. That same day, it sold between $1 million and $5 million each in the iShares U.S. Treasury Bond ETF, State Street Communication Services Select Sector SPDR ETF, and iShares International Treasury Bond ETF, as 10-year Treasury yields rose following remarks by Trump at a NATO summit in Turkey concerning an Iranian ceasefire. In addition, the filing recorded purchases of $1 million to $5 million each in two Miami-Dade County aviation revenue bonds, a St. Louis County school district bond, and a Main Street Natural Gas bond.