Trump family — disclosed holdings (DJT, crypto, blue-chip tech)
Donald J. Trump (45th/47th President) + family (Eric, Donald Jr.); DJT held via revocable trust. Disclosed via OGE federal financial disclosure + public SEC filings for DJT.
A barbell of crypto-treasury equity and conventional AI-mega-cap exposure. The headline is DJT (Trump Media), which pivoted into a bitcoin/CRO treasury — making the listed equity effectively a leveraged crypto-treasury proxy. Underneath, the personal brokerage holds the standard AI-trade blue chips (AAPL, MSFT, NVDA, GOOGL, AVGO, AMZN). The sons add a bitcoin-mining angle via American Bitcoin (ABTC).
- Disclosure record — A public official's statutory filings, not a fund. No NAV, no manager, no terms.
Top holdings
Pivoted to a bitcoin + Cronos (CRO) crypto-treasury; held ~9,542 BTC + 756M CRO as of Mar-2026. Q1-2026 net loss $405.9M, mostly crypto markdowns — effectively a leveraged crypto-treasury equity.
$615K-$1.3M — Personal brokerage AI-compute holding (OGE disclosure range).
$580K-$1.2M — AI networking/custom-silicon exposure (OGE range).
$630K-$1.4M — Hyperscaler / AI-capex proxy (OGE range).
$431K-$965K — AI model + TPU + datacenter exposure (OGE range).
sons ~20% combined — BTC-mining venture; Eric Trump is Chief Strategy Officer — a compute/energy-intensive crypto-infra bet outside the President's personal book.
Recent moves
DJT held ~9,542 BTC + 756M CRO as of Mar-2026, having sold 2,000 BTC in late-Feb-2026 near sub-$70K; Q1-2026 loss of $405.9M driven by ~$244M unrealized crypto losses (reported May 9, 2026). Family crypto vehicle WLFI and meme tokens ($TRUMP/$MELANIA) remain disclosed but are not AI/semi exposure.
Our take
Why it matters: the AI/compute/energy angle here is indirect but real — DJT's crypto-treasury and the sons' ABTC mining stake are energy-and-compute-intensive bets, while the personal brokerage holds the same AI mega-caps (NVDA, AVGO, MSFT, GOOGL) the rest of this page tracks. Edge/limits: DJT trades far more on crypto price and political sentiment than on AI fundamentals, so it's a noisy proxy; the meme-token and WLFI exposure is conflict-laden and not AI-relevant. Honest caveat: OGE figures are wide ranges, DJT is held via trust, and conflict-of-interest scrutiny is heavy — this is transparency tracking, explicitly not a recommendation.
The two disclosed books map to different themes and should be read separately.
The brokerage side maps cleanly onto the 2025–26 AI-capex trade: NVDA, AVGO, MSFT, AMZN, AAPL, GOOGL, plus second-tier names (AMD, Micron, Bloom Energy) that sit on the compute-and-power side of the same theme. Cadence is high — 3,711 trades in an ~11-week window is an actively managed account, and press reports note the assets are run by family members with broker involvement; the filings do not identify who directed any individual trade. DJT is a different animal: since its treasury pivot it functions structurally as a listed crypto-holding vehicle (9,542.16 BTC and 756.1M CRO at 31-Mar-2026), so its equity moves on digital-asset prices rather than on AI or media fundamentals. What the filing lets you conclude: which names appear, in which value bands, in which window. What it does not: position sizes, portfolio weights, share of net worth, cost basis, or realized P&L. There is no denominator anywhere in this dataset.
Thesis
Not a fund — a disclosure record assembled from two separate public regimes. One is SEC ownership reporting on Trump Media & Technology Group (DJT), held via the Donald J. Trump Revocable Trust; the other is the federal ethics regime (OGE Form 278e annual, 278-T periodic transaction reports) covering a personal brokerage book. There is no NAV, no unitholder, no return series. What a reader gets is a lagged, banded picture of two very different exposures sitting side by side: a single concentrated crypto-treasury equity, and a broad large-cap technology brokerage account.
As reported: DJT held through a revocable trust (114,750,000 shares transferred 17-Dec-2024; ~41% of shares outstanding per TMTG's SEC filing, as of Apr-2026; Donald Trump Jr. sole trustee). Separately, two OGE 278-T filings (filed 12-May-2026) disclosed 3,711 trades across an ~11-week window in a $220M–$750M band — large-cap tech and semiconductor names plus fixed income, most equity buys in the $1M–$5M and $500K–$1M bands. Later filings added April/May trades.
Assessment
- Unusually granular for a disclosure record: 3,711 trades with per-trade value bands in one ~11-week window, versus the annual snapshot most 278e filings provide.
- The brokerage book is internally coherent — semis, hyperscalers, memory and power names cluster on one identifiable AI-capex theme rather than reading as scattered.
- DJT's exposure is explicitly quantified in SEC filings (unit counts, cost basis, fair value), which is rarer than the banded ethics data.
- The two regimes are independent, so DJT's stake and the brokerage book can be cross-read without relying on a single filer's framing.
- Ethics filings report value RANGES, not amounts. A '$1M–$5M' entry is a band; summing bands produces the $220M–$750M spread, not a number.
- Periodic transaction reports lag: under the STOCK Act, filing is due 30 days after the filer is notified of a transaction and no later than 45 days after the trade date.
- No denominator is disclosed — you cannot derive portfolio weights, total account value, or what share of overall wealth any position represents.
- Attribution matters: DJT sits in a revocable trust with a separate trustee; spousal, joint and trust assets are labelled distinctly and are not interchangeable.
- Third-party tracker reconstructions differ because each makes its own band-midpoint and timing assumptions. Two trackers can honestly disagree.
Record
No portfolio return is disclosed by either regime, and none can be computed from banded data. The only hard performance figure attaches to DJT as a company: a Q1-2026 net loss of $405.9M on $871,200 revenue, driven largely by $368.7M of non-cash unrealized losses on digital assets, pledged digital assets and equity securities (reported May-2026). BTC cost basis was $1.13B versus $647.1M fair value at 31-Mar-2026; CRO $113.9M versus $53M — single-source figures, kept attributed. Operating cash flow was positive $17.9M, a fourth straight positive quarter, per the company's own Q1 release. On the brokerage side, some outlets characterised Q1 purchases as well-timed against the March drawdown and recovery; those are reconstructions from banded trade dates, not marked returns, and any S&P 500 comparison in such write-ups is directional at best. Neither figure supports an inference about skill.
Risks & fit
- DJT's equity value is dominated by mark-to-market crypto exposure; its reported earnings track BTC and CRO prices, not media operations.
- Concentration: the disclosed brokerage book clusters heavily in one AI/semiconductor capex theme, so its names tend to correlate on the same drivers.
- The BTC position sits well below cost basis as of the Mar-2026 mark, so further markdowns flow through reported earnings.
- Second-tier names in the book (power, memory, merchant semis) are more cyclical than the mega-caps and amplify the same theme's swings.
- Trust-held and directly-held assets face different disclosure cadences, so the two halves refresh on different clocks.
This reading changes if: (a) a later 278e annual filing shows the AI/semiconductor cluster substantially rotated out, indicating the disclosed window was a trading episode rather than a standing posture; (b) DJT unwinds or materially cuts the BTC/CRO treasury, breaking the crypto-proxy characterisation of the equity; (c) the account moves into a qualified blind trust, after which transaction-level disclosure stops and no positioning can be read; or (d) an amendment materially restates the 3,711-trade set, since both the $220M–$750M band and the name list derive from those two filings.
Readers using disclosure data as theme and market-structure context: which large-cap AI and semiconductor names appeared in a heavily-traded account during early 2026, and how a listed crypto-treasury vehicle reports its economics. Explicitly not a signal to mirror — the data is banded, lagged, has no denominator, and describes a past window. Transparency tracking and analysis, not investment advice and not a recommendation on any security named.
Not applicable — a public disclosure record, not a pooled vehicle. No management fee, performance fee, or outside capital; nothing here is offered to invest in. DJT is separately a listed equity subject to normal market access.