Trump's Q1 Ethics Filing Is Now Public: $220M in Trades, Broken Down Company by Company

What the New Filing Shows

On Thursday, May 15, 2026, the U.S. Office of Government Ethics released the financial disclosure forms everyone has been waiting for. Not estimates. Not leaks. The official filings.

According to Reuters — reported by Jarrett Renshaw, Lawrence Delevingne, and Tom Bergin — President Trump disclosed at least $220 million in securities transactions during Q1 2026. That's the first three months of his second term.

The Breakdown

Here's what the filing shows, according to the Office of Government Ethics documents reported by Reuters and TMZ's financial breakdown:

Media companies — buys:

• Comcast: at least $1.08 million
• Netflix: at least $571,000
• Disney: at least $364,000
• Fox Corp.: at least $45,000
• Warner Bros. Discovery: at least $30,000
• Paramount Skydance: at least $15,000

Media companies — sells:

• Netflix: $1.3 million
• Disney: $1.1 million
• Fox Corp.: $30,000

Trump was simultaneously buying and selling Netflix and Disney within the same quarter.

Tech — sells (between $5M and $25M each, per Seeking Alpha):

• Amazon
• Meta
• Microsoft

Tech — buys (between $1M and $5M each):

• Apple
• Nvidia

Also purchased: Bank of America, Broadcom, Goldman Sachs, Oracle, and municipal bonds.

This is a wide, active portfolio for a sitting president.

The Regulatory Overlap

Most outlets are treating this as a straightforward disclosure story — "Trump files, here are the numbers, moving on."

But Trump's administration is actively regulating every single one of these companies right now.

• The FTC under Trump's appointees is weighing merger decisions involving companies in this portfolio.
• The DOJ's antitrust division has ongoing matters touching Amazon and Google's ecosystem — which affects Meta and Apple's competitive landscape directly.
• Tariff policy, which Trump controls by executive order, has direct price impact on Apple's supply chain and Nvidia's chip exports.
• The administration's posture toward media consolidation affects Comcast, Warner Bros. Discovery, and Paramount.

The filing does not tell us what decisions were made on what dates, or whether trades preceded or followed specific regulatory moves. The disclosure system isn't designed to answer that question. It just shows the trades happened.

What the Law Says and Doesn't Say

Presidents are exempt from the Stop Trading on Congressional Knowledge (STOCK) Act. That's the law that requires members of Congress to disclose trades within 45 days and prohibits trading on non-public information. It applies to Congress, not the executive branch.

There is no law that explicitly bars a sitting president from trading in companies his administration regulates.

Congress exempted the one person in the federal government with the most power over markets.

The Bigger Number Problem

$220 million is described as the floor, not the ceiling. These filings use ranges — Seeking Alpha noted purchases of "as much as $5M each" in multiple companies. The actual totals could be significantly higher.

Additional filings covering business assets and income are expected in coming months, according to TMZ's reporting. The $220 million figure covers securities only. It does not include Trump's real estate holdings, licensing deals, or Truth Social-related income.

What Happens Next

Congress has made noise about closing the presidential exemption in the STOCK Act. It hasn't happened. Democrats have introduced bills. Republicans have blocked them. Then the roles reversed depending on who held the White House. Neither party has actually fixed this.

For regular Americans: if your 401(k) is in any of these companies — Netflix, Apple, Nvidia, Goldman Sachs — the person setting the regulatory environment for those companies was also trading them in Q1.