Trump's 28,700 Stock Trades Dwarf All of Congress Combined, Bloomberg Analysis Finds

Since Trump's first-quarter 2026 disclosure surfaced in May showing roughly 3,600 trades in 90 days, the volume has only gotten bigger. A Bloomberg analysis of mandatory financial disclosures now puts Trump's total at nearly 28,700 securities trades between his January 2025 inauguration and the end of June 2026, according to Bloomberg's review cited across Fortune, Quartz, Yahoo News, Truthout and Democracy Now!. That works out to about 80 trades per market day.

Compare that to Capitol Hill. House members disclosed about 19,400 trades over the same stretch and senators disclosed roughly 2,900, for a combined congressional total of about 22,200, according to Bloomberg's figures. Trump alone beat the entire legislative branch.

His 2025 disclosures alone showed more than 21,000 trades worth between $600 million and $1.86 billion, depending on the filing range cited by Fortune and Quartz. Truthout reported his first-quarter 2026 trades were worth as much as $750 million. On top of the equity trading, Trump's periodic disclosures show more than $337 million funneled into municipal and corporate bonds, bank preferred securities, and bond ETFs, according to Fortune.

What the Trades Look Like

Some of the specific transactions have drawn scrutiny for their timing. Fortune's review found the account bought up to $1.38 million of DoorDash stock in the first quarter of 2026; in April, Trump had DoorDash deliver a McDonald's order to the White House for a tipped-worker tax event. The account also sold hyperscaler stocks worth $5 million to $25 million on February 10, the day after a chip-tariff carveout leaked, and it bought energy stocks in the weeks after the Iran war began, according to Fortune.

A Joint Economic Committee report from congressional Democrats, cited by Truthout, calculated Trump made up to $15.5 million in profits on his oil and gas holdings as those stocks rose during the Iran conflict. None of these sources present evidence that Trump personally directed any specific trade or acted on non-public information. The correlations are documented; intent and direction are not proven.

The White House Defense

White House spokesman Davis Ingle told Fortune the portfolio is run by third-party financial institutions through what he called "computer-based model portfolios that automatically replicate recognized indexes, such as the Schwab 1000." Ingle told Quartz that "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." He did not name which institutions manage the accounts, and did not explain to Fortune why the White House had earlier described the arrangement as a trust managed by Trump's children. Eric Trump has separately said any claim that a family member buys individual stocks "would be a lie and blatantly false."

If independent firms are genuinely running index-replication models with zero input from Trump or his family, an index fund by definition isn't picking DoorDash or oil stocks for political reasons—it's following a formula. The problem, according to Richard Painter, the former Bush-era chief White House ethics lawyer now at the University of Minnesota, is that the arrangement can't be verified from outside. "I believe that that is a huge problem," Painter told Fortune. "I've gone through every president. I don't think we've had any president trade in the stock market." Painter noted that every president since Lyndon Johnson has used a blind trust, index funds, or Treasuries instead.

Kedric Payne of the Campaign Legal Center told Quartz the conflict question doesn't hinge on insider information at all. "Even if they're not trading the stock on non-public information, they still create the appearance of a conflict of interest because they can still influence the value of the stock through their official duties," Payne said.

The Ban That Doesn't Ban Him

House Republicans passed a bill in July, sponsored by Representative Anna Paulina Luna, that would bar members of Congress, their spouses, and dependent children from trading individual stocks. Trump has endorsed it, telling Congress in his State of the Union address it should pass "without delay" so lawmakers "cannot corruptly profit from using insider information." The bill contains no restriction on the president.

When Senator Josh Hawley proposed extending trading limits to the presidency and vice presidency, Trump turned on him publicly, calling the Missouri Republican a "pawn" and a "second-tier Senator," according to Yahoo News and Quartz. Breitbart's own archive of stock-trading coverage shows Hawley has spent years pushing similar bans aimed at Democrats, including demands that Energy Secretary Jennifer Granholm answer for falsely denying she owned individual stocks, and criticism of Nancy Pelosi's husband trading $38 million in stock weeks before Trump's 2025 inauguration. Congressional stock trading has been a bipartisan mess for years; Trump's trading volume as president is a new and separate development.

An Economist/YouGov poll of 757 adults conducted May 22-26 found three-quarters of Americans want elected officials banned from trading stocks, according to Quartz and Yahoo News. Legal experts told Yahoo News that penalties under the 2012 STOCK Act start at just $200 and that the Justice Department would likely struggle to enforce any trading ban against a sitting president, given the informal norms that have historically governed presidential financial conduct rather than hard statute.

The House-passed bill now sits without a Senate companion covering the presidency. Whether Hawley's push to include Trump in any final ban gets a vote, and whether the White House ever names which firms manage the eight investment accounts listed on Trump's disclosures, remain open questions.