Trump Sells Meta in June, Buys Berkshire as Portfolio Undergoes Major Rebalancing

[Financial News]  

It was confirmed on the 22nd, local time, that U.S. President Donald Trump made major changes to his financial asset portfolio in June through more than 1,000 transactions. He bought and sold large amounts of stocks, bonds and exchange-traded funds (ETFs) during the month. The transactions ranged in value from $78.1 million to $263.1 million.
Trump's team disclosed the moves in a filing that day. The filing listed only value ranges, not exact amounts, for each sale or purchase. Stock purchases peaked at $49 million, while sales totaled at least more than $28.5 million.
Under the rules, Trump did not make the portfolio adjustments himself. They were handled by his representative. Because the filing does not give exact sale or purchase amounts, and because it does not disclose how much of each security he holds, the precise composition of his portfolio remains unknown.
According to the filing, Trump carried out 1,051 transactions in June to significantly reshape his portfolio. The largest trade was the sale of the Vanguard Dividend Appreciation ETF (VIG) on June 22, with a reported value of $5 million to $25 million. On the same day, Trump bought shares of Fidelity Information Services and The Home Depot, Inc., each worth between $1 million and $5 million.
Trump also sold $1 million to $5 million worth of Meta Platforms Inc. and Motorola, Inc. shares on June 18. Instead, he bought shares of Berkshire Hathaway, Cintas, Visa and Mastercard that same day. The trades came a day after the New York Stock Exchange plunged amid expectations of a Federal Reserve System (Fed) rate hike. On June 17, the Fed had held rates steady at the first Federal Open Market Committee (FOMC) meeting under Chairman Kevin Warsh. The market rebounded on June 18, the day Trump sold Meta and bought Berkshire and others.
Trump also adjusted his defense portfolio.
On June 3, he bought Palantir Technologies shares worth between $1,001 and $15,000. On June 16, however, he sold Palantir shares worth between $15,001 and $50,000, and on the 18th he sold another $500,001 to $1 million worth. In the meantime, the United States and Iran signed a Memorandum of Understanding (MOU) on ending the war.
Trump also bought and sold shares of RTX Corporation, formerly Raytheon, and Northrop Grumman Corporation. On June 12, he bought $100,001 to $250,000 worth of RTX shares, while selling $1,001 to $15,000 worth of Northrop shares that same day. On June 23, he bought Northrop shares again, then sold them again the next day, June 24.
He also bought and sold shares of the cryptocurrency exchange Coinbase.
Between June 12 and 23, he sold $116,003 to $315,000 worth of shares, then bought $50,001 to $100,000 worth on June 24.
Meanwhile, The White House says there is no conflict of interest because the president does not manage his portfolio directly and his assets are handled by a representative.

[email protected] Song Kyung-jae Reporter