Trump buys at least $82mn in bonds amid policy-favored sectors

US President Donald Trump purchased at least $82 million in corporate and municipal bonds from late August to early October, according to financial disclosures released Saturday. The filings, published by the US Office of Government Ethics under the Ethics in Government Act, show more than 175 transactions during the period, though exact amounts were provided only in broad ranges. The maximum potential value of the purchases exceeded $337 million.

Most of Trump’s newly reported holdings are bonds issued by municipalities, states, counties, school districts, and other public-sector–linked entities. He also expanded investments in industries gaining from his administration’s policies, including firms benefiting from financial deregulation.

Trump’s corporate bond purchases include those from Broadcom, Qualcomm, Meta Platforms, Home Depot, CVS Health, Goldman Sachs, and Morgan Stanley. Transactions in late August also included JP Morgan bonds — just weeks before Trump publicly urged the Justice Department to investigate the bank over its past relationship with Jeffrey Epstein. JP Morgan has acknowledged regretting those past ties.

He also acquired Intel bonds after the US government, under his leadership, took a stake in the company.

The White House did not comment on the disclosures. Officials have previously said Trump continues to file required reports but does not manage his investment portfolio, which is handled by a third-party institution. Trump has said his businesses were placed into a trust overseen by his children.

A separate disclosure in August showed he had bought more than $100 million in bonds since returning to office on January 20. His annual filing in June reported that income from his various ventures still ultimately flowed to him, raising conflict-of-interest concerns. That report also showed more than $600 million in income from crypto holdings, golf courses, licensing deals, and other activities, contributing to assets valued at at least $1.6 billion, according to earlier Reuters calculations.