Financial disclosure filings through the second quarter of 2026 show that President Trump’s investment accounts have continued to buy and sell stocks in oil and natural gas companies during the ongoing U.S. conflict with Iran. The reports, filed with the Office of Government Ethics (OGE), indicate that these transactions involved shares in companies such as ExxonMobil, Chevron, and ConocoPhillips. The White House stated that these trades are managed by independent third parties without the president's input.
The disclosures follow a period of activity in the energy sector, which saw stock prices rise during U.S. operations in Venezuela in January and the start of the Iran war in late February. While the president has criticized oil companies for their high profits during the conflict, his own portfolio includes holdings in 11 different sectors. A previous investigation into the first three months of 2026 found his accounts executed approximately 3,600 trades with a total value between $212 million and $695 million.
Specific transactions noted in the filings include a sale of ExxonMobil stock valued between $500,000 and $1,000,000 on April 7, the same day the president announced a ceasefire. The company’s share price closed at $163.91 that day before dropping 6.5% at the next morning's opening. White House spokesman Davis Ingle stated the portfolio is managed by computer-based models that replicate recognized indexes and that no member of the Trump family has the ability to influence the timing of these investments.
For the American public, the scale of these holdings is significant relative to typical household investments. Democrats on the Joint Economic Committee estimated the president’s oil and gas holdings grew from a range of $13 million to $46 million at the start of 2026 to between $17 million and $61 million by mid-August. This growth occurred as global oil prices remained elevated due to the war, a factor that contributes to higher gas and shipping costs for consumers. With the president's total net worth estimated by Forbes at over $6 billion as of August 26, these energy trades represent a small portion of his wealth but a high-value figure compared to the average citizen's assets.
The situation sets a precedent for how modern presidents manage vast, active portfolios while in office. Unlike predecessors George W. Bush, who used a blind trust, or Barack Obama and Joe Biden, who utilized index funds and Treasury notes, President Trump has maintained individual stock holdings. The OGE requires officials to report trades over $1,000 within 45 days, though the president was reportedly late in filing some 2026 transactions. Legislative efforts to outlaw individual stock trading for federal officials remain under consideration in Congress as these disclosures continue to be reviewed by ethics groups and committees.