US President Donald Trump has continued to bet on Elon Musk’s aerospace giant SpaceX, buying between $15,001 and $50,000 worth of the firm’s shares back in July. The transactions were part of a busy month for Trump’s portfolio, which saw 1,156 purchases and sales disclosed in July.According to a public financial disclosure, Trump made the purchase on July 10 and sold some of the shares a week later, on July 17. The SpaceX trades add to Trump’s investment activity involving Elon Musk’s companies, as he also bought and sold Tesla shares during the period.The combined value of those transactions was between roughly $79 million and $270 million, according to an estimation by CNBC. Of the total amount, purchases totalled at least $43.6 million, while sales amounted to at least $35.6 million.
Trump’s investments in Musk’s companies
Trump had already reported buying between $15,001 and $50,000 worth of SpaceX shares on June 23. SpaceX went public on June 12 in the largest US IPO on record, with the space, satellite and AI provider valued at $1.77 trillion.SpaceX is a major Pentagon contractor and NASA launch provider. It also owns Musk’s xAI, which has a Pentagon contract worth up to $200 million.Musk was Trump’s biggest financial backer in 2024 and later served as an adviser to his administration.Trump also traded Tesla shares several times. He bought between $100,001 and $250,000 of Tesla on June 15 and between $15,001 and $50,000 the following day. He then sold between $131,004 and $365,000 across four transactions before buying another $100,001 to $250,000 of the automaker’s shares on July 27.
Microsoft, Amazon among major July trades
Trump’s July trading extended well beyond Musk’s companies, with Microsoft and Amazon among the biggest transactions.On July 20, he sold between $5 million and $25 million worth of shares in each company. Three days later, he bought between $100,001 and $250,000 of Microsoft and between $1,001 and $15,000 of Amazon.The same July 20 filing showed Trump selling between $1 million and $5 million of Oracle and buying between $500,001 and $1 million of Nvidia.He also sold between $250,001 and $500,000 of Northrop Grumman shares that day. The trade took place on the same day Trump signed an executive order tightening supply chain requirements for defence contractors and restricting waivers for certain critical materials sourced from China and other covered countries. The disclosure does not show when the trade took place or who made the investment decision.
Stocks, ETFs and bonds
The July disclosure also shows Trump buying between $1 million and $5 million each of Intuit, Marvell Technology, Salesforce and Church & Dwight. He bought between $250,000 and $500,000 of Axon Enterprises, which works frequently with Immigration and Customs Enforcement.Trump also moved money across exchange-traded funds. On July 8, he bought between $1 million and $5 million each of the State Street SPDR Bloomberg International Treasury Bond ETF, Fidelity MSCI Communication Services Index ETF, Vanguard Short-Term Bond Index Fund ETF and Vanguard Dividend Appreciation Index Fund ETF.On the same day, he sold between $1 million and $5 million each of the iShares US Treasury Bond ETF, State Street Communication Services Select Sector SPDR ETF and iShares International Treasury Bond ETF.Ten-year yields climbed on July 8, led by soaring oil prices, after Trump said at the NATO summit in Turkey that he thought a ceasefire with Iran was over.The filing also showed several large purchases of municipal and other bonds, including between $1 million and $5 million each of two Miami-Dade County, Florida, aviation revenue bonds, a St Louis County, Missouri, school district bond and a Main Street Natural Gas bond.
Trading activity remains high
The July disclosure follows another heavy month of trading in June, when Trump reported 1,051 transactions worth between $78.1 million and $263.1 million across stocks, bonds and ETFs.His 2025 annual financial disclosure showed more than 21,000 securities trades across eight accounts holding at least $858 million. That compared with 86 stock transactions disclosed during his first year in office in 2017.The White House has repeatedly said Trump’s portfolio is managed independently and that neither he nor his family has a role in investment decisions.“President Trump’s stock and bond portfolio is independently managed by third-party financial institutions,” White House spokesman Davis Ingle said in response to CNBC’s questions about Trump’s latest disclosure.“Neither President Trump nor any member of his family has any ability to direct, influence, or provide input regarding how the portfolio is invested or when investments are bought or sold.”
