Stock Markets May 14, 2026 12:15 PM

Trump Reallocates Portfolio, Adds Big Stakes in Nvidia and Other Chip and Software Names

Disclosure shows major tech sell-offs alongside new multi-million-dollar positions in semiconductors, enterprise software, and select consumer tech stocks

By Caleb Monroe AMZN META MSFT NVDA AVGO

A recent OGE Form 278-T filing from President Donald Trump reveals significant rebalancing of his public stock holdings in the first quarter of 2026. The disclosure records large-scale sales in several high-profile tech names in the $5 million to $25 million band, while also documenting new multi-million-dollar entries in semiconductor and enterprise-software companies. The filing details both solicited and unsolicited trades, and includes targeted purchases in Intel and Dell around notable public events and policy decisions.

Trump Reallocates Portfolio, Adds Big Stakes in Nvidia and Other Chip and Software Names
AMZN META MSFT NVDA AVGO

Key Points

  • President's Q1 2026 OGE Form 278-T shows large sales in Amazon, Meta, and Microsoft in the $5 million to $25 million range while retaining smaller offsetting purchases.
  • New $1 million to $5 million positions were opened in semiconductor firms including NVDA, AVGO, SNPS, CDNS, and TXN, alongside million-dollar entries in AAPL and enterprise software companies ORCL, NOW, ADBE, and WDAY.
  • Some trades were classified as unsolicited; notable unsolicited purchases in March targeted Apple, Microsoft, and Amazon.

The President's latest OGE Form 278-T filing for the first quarter of 2026 shows a marked reshaping of his technology positions. The disclosure records substantial reductions in several large-cap tech holdings, with disposals falling into the peak-valuation bracket of $5 million to $25 million for names including Amazon.com Inc (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), and Microsoft Corporation (NASDAQ:MSFT).

Despite those sizeable sell-offs, the filings indicate the President did not fully exit each company. Instead, smaller purchases were made alongside the large-scale sales. Meta, for example, was subject to multiple acquisitions during early 2026 that ranged from $1,001 to $500,000. Amazon and Microsoft were also the subject of smaller buys, with individual purchases recorded between $1,001 and $5 million.

At the same time, the filing documents a series of new positions established at the $1 million to $5 million level. Key additions in that range include major semiconductor companies: NVIDIA Corporation (NASDAQ:NVDA), Broadcom Inc (NASDAQ:AVGO), Synopsys Inc (NASDAQ:SNPS), Cadence Design Systems Inc (NASDAQ:CDNS), and Texas Instruments Incorporated (NASDAQ:TXN).

Beyond semiconductors, the President added notable stakes in both consumer and enterprise technology companies. The disclosure lists million-dollar entries into Apple Inc (NASDAQ:AAPL) and several enterprise software providers: Oracle Corporation (NYSE:ORCL), ServiceNow Inc (NYSE:NOW), Adobe Systems Incorporated (NASDAQ:ADBE), and Workday Inc (NASDAQ:WDAY). The filing notes these software purchases occurred at a time when that sector had experienced pronounced discounts tied to AI-related uncertainty and constrained visibility.

A portion of the activity in the filing is labeled as "unsolicited," indicating trades initiated without formal recommendations from brokers. Among the largest unsolicited transactions were purchases focused on Apple, Microsoft, and Amazon, each reaching the $1 million to $5 million range during March.

The disclosure also records a significant $1 million to $5 million purchase of Dell Technologies Inc (NYSE:DELL) Class C stock on February 10, 2026. That acquisition preceded a public endorsement of Dell hardware by the President at a White House event in early May.

In addition, the filings show increased accumulation of Intel Corporation (NASDAQ:INTC) beginning in early March 2026. Several of those Intel purchases were flagged as unsolicited. The Intel buys followed a late-2025 decision by the U.S. government to acquire a material equity stake in the domestic chipmaker.


What the filing shows

  • Large-scale sales in Amazon, Meta, and Microsoft in the $5 million to $25 million band during Q1 2026.
  • Smaller offsetting purchases in Meta ($1,001 to $500,000) and in Amazon and Microsoft ($1,001 to $5 million).
  • New $1 million to $5 million positions in NVDA, AVGO, SNPS, CDNS, and TXN.
  • Million-dollar entries into AAPL and enterprise software names ORCL, NOW, ADBE, and WDAY while the software sector was trading at discounts tied to AI-related concerns.
  • Unsolicited trades, including $1 million to $5 million purchases in Apple, Microsoft, and Amazon in March.
  • A $1 million to $5 million Dell Class C purchase on February 10, 2026, prior to a public Dell hardware endorsement in early May.
  • Incremental Intel purchases beginning in early March 2026, some unsolicited, following the U.S. government’s late-2025 stake acquisition in Intel.

Context and tone

The filing portrays an active reallocation rather than a wholesale exit from major tech positions. Large disposals coexist with continued, sometimes unsolicited, purchases across a range of technology subsectors - from consumer devices to enterprise software and chip design. The moves indicate both trimming of certain legacy exposures and establishment of fresh, multi-million-dollar stakes in companies positioned in semiconductors and AI-related infrastructure.

Risks

  • Market timing risk from substantial reallocations - heavy sales and new multi-million-dollar entries could expose portfolio performance to short-term sector volatility, affecting technology and semiconductor market segments.
  • Uncertainty around unsolicited trades - trades initiated without broker recommendations may reflect opportunistic or timing-driven activity, which could increase exposure to execution risk in stocks like Apple, Microsoft, and Amazon.
  • Sector-specific discount risk for enterprise software - the filing notes software purchases amid discounts tied to AI-related concerns and limited visibility, indicating potential valuation and earnings uncertainty for enterprise software providers.

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