Full Breakdown
Trump’s Stock Trades Amid the Iran Conflict: Timing, Scale, and Oversight
8/28/2026, 12:24:52 AM
Core Event – Trading Activity During the Iran War
President Donald Trump’s investment accounts executed hundreds of thousands of dollars in trades of energy and defense stocks while he oversaw U.S. military actions against Iran. Notable transactions line up with key war-related dates, prompting questions about potential conflicts of interest.
Background & Context
The Iran negotiations ran from June 12 to later in June 2026, a period that coincides with several stock purchases reported in Trump’s financial disclosures. The U.S. war with Iran began at the end of February, was paused for a ceasefire on April 7, and resumed later in the year. Throughout his second presidency, Trump has declined to place his assets in a blind trust; instead, the White House says his portfolio is managed by third-party institutions that use computer-based model portfolios.
Timeline
- June 12 – later in June 2026 – Iran negotiations (dates noted in filing).
- June 15 2026 – Purchase of Lockheed Martin stock.
- June 16 2026 – Sale of Lockheed Martin stock, one day before signing a memorandum of understanding with Iran.
- June 23 2026 – Second purchase of Lockheed Martin stock, less than a week after the deal.
- April 7 2026 – Sale of $500,000-$1 million of ExxonMobil stock, the day Trump announced a ceasefire.
- April 8 2026 – ExxonMobil share price opened down 6.5% following the ceasefire announcement.
Data & Statistics
- Approximately 3,600 trades in the first three months of the year, valued between $212 million and $695 million (CBS).
- Joint Economic Committee estimates oil-and-gas holdings rose from $13 million-$46 million at the start of the year to $17 million-$61 million by mid-August (CBS).
- June energy-sector trades included two sales of $1,001-$15,000 in ExxonMobil stock, a later purchase in the same range, three purchases of Chevron, three sales of ConocoPhillips, a sale of Valero Energy, and a purchase of Occidental Petroleum.
- Defense-sector filings list purchases of Lockheed Martin, Northrop Grumman, General Dynamics, and RTX, though exact amounts are undisclosed.
Official Statements & Responses
- When asked about oil-company profits, President Trump responded, “They’re making too much money.” (CBS)
Verbatim Quotes
- “The manager and managers, plural, who are doing this for Trump are probably doing it for tens of thousands of other customers,” — David Salem, a portfolio manager at Hedgeye Asset Management in Cambridge, Massachusetts
- “President Trump's war of choice in Iran has cost the American people in the form of higher energy and gas prices and higher shipping costs,” — Donald Sherman, president of Citizens for Responsibility and Ethics in Washington, or CREW
Conflicting Reports & Gaps
- The Office of Government Ethics requires reporting of transactions over $1,000, but some 2026 filings were submitted late, meaning the public record may not reflect the most recent trades (CBS).
- Exact dollar amounts for many defense-sector purchases are not disclosed, leaving the financial impact of those trades unclear.
What's Next
- No specific future disclosures, hearings, or legislative actions have been announced; the White House maintains that the current third-party management structure will continue throughout the president’s term.
