Donald Trump - The Investor

Updated March 2017

Donald Trump's 2016 Financial Disclosure to the Federal Elections Committee (FEC) provides us with an interesting glimpse into the Republican presidential candidate's net worth and details of his assets.  In this posting, I want to focus on some of his larger stock holdings, excluding his holdings in various funds, most of which are from the Baron Funds family of funds.  It's always interesting to get a detailed look at how the most wealthy among us invest their massive savings.

Here is an interesting page from the disclosure showing part of Mr. Trump's investment portfolio in one of his two brokerage accounts at Deutsche Asset and Wealth Management:

Obviously, he has substantial investments in corporate bonds in this account, holding between $11.15 million and $22.35 million in bonds and, in addition, he holds between $500,001 and $1,000,000 worth of Fannie Mae securities and between $1,000,001 and $5,000,000 in U.S. Treasuries.  Note that there is also between $1,000,001 and $5,000,000 in a money market account.

Here are several pages from his disclosure showing his investment portfolio in his other brokerage account at Deutsche Asset and Wealth Management:

It is also interesting to note that Deutsche Bank has lent a great deal of money to Mr. Trump; he has two mortgages on Trump National Doral, his luxury Miami resort, one for over $50 million, and one for between $5 million and $25 million.  He also has a term loan of between $25 million and $50 million on the Trump International Hotel and Tower in Chicago from Deutsche Bank.

In his JP Morgan Clearing Corporation brokerage account, he holds the following:

In his Barclay's Bank brokerage account, he holds the following:

Lastly, in his Oppenheimer brokerage account, he holds the following:

All in all, Mr. Trump is a substantial investor in Apple, holding between $1.75 million and $6.5 million worth of shares and $600,000 and $1.25 million worth of Apple bonds.

And, before I forget, he also owns between $100,001 and $250,000 in gold.  As well, he has between $6.116 million and $30.315 million in six savings and checking accounts.

Looking at his portfolio, it appears that Mr. Trump's equity and bond holdings are very diversified.   That's one lesson that we could learn from Donald Trump even if we don't know the details of his personal tax returns.