Donald Trump’s brokerage accounts carried out a series of closely timed stock purchases, financial disclosures show, including an investment in the maker of Tasers — a company now positioned to supply equipment for his ICE deportation force.
The President’s portfolio activity included some of the best-known companies on Wall Street, with purchases spanning major technology names often grouped among the so-called Magnificent Seven.
The most substantial burst of buying came on August 18, 2025, when Trump made three consecutive purchases in Apple, Microsoft and Nvidia, each valued at between $5 million and $25 million.
In September, he also purchased Amazon shares on the same day a federal trial began over allegations that the company misled customers into paying for Prime. Amazon reached a settlement two days later, agreeing to a $1 billion penalty and $1.5 billion in customer refunds.
While those high-profile tech trades stand out for their size, a smaller and more specialized purchase is now attracting some of the closest attention.
Trump’s trust acquired between $1 million and $5 million in Axon Enterprise, the company behind the Taser, on February 10, according to disclosures filed in May and first reported by CNBC this week.
That Axon purchase was one transaction in an extraordinary wave of trading activity, with Trump’s brokerages executing more than 3,600 individual trades during the first three months of the year alone.
Two weeks after the Axon buy, ICE posted a notice seeking about 17,800 new stun guns, along with unlimited cartridges and training, under a five-year contract valued at $220 million.
Donald Trump tips a driver after receiving a DoorDash delivery of McDonald’s during an event outside the Oval Office, in Washington, DC, in April
The President has bought into some of the most familiar names on Wall Street since he retook office, financial disclosures show
The notice does not name Axon. Its specifications, including a 45ft range and 10 individually deployable probes, track the company’s Taser 10, procurement reviewers and three policing experts told CNBC.
Those requirements would effectively rule out every other bidder, the experts said. Axon makes roughly 90 percent of the Tasers used in the US.
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The contract would more than quadruple ICE’s supply, replacing about 4,300 devices already in the field. It has not been awarded.
Axon shares closed at 560.61 on June 30, up about 29 percent from the 434.45 they were trading at when Trump’s account bought in on February 10.
There is no evidence Trump directed the trade, knew about the ICE procurement or that Axon knew he held a stake.
The trades run through discretionary accounts at firms including Charles Schwab and JPMorgan Chase, with Donald Trump Jr acting as trustee.
Under that arrangement, the brokerages hold sole authority to buy and sell, and are barred from taking trade requests from the President or his family.
Unlike every president since the 1970s to hold individual stocks, Trump has not placed his assets in a blind trust, meaning he can see what he owns even though he cannot direct the trading himself.
The White House points to that trust structure as proof of separation, saying investments are handled by independent third-party firms rather than the President or his family.
Questioned about his purchases before boarding Air Force One on Wednesday, Trump said: ‘I’m profiting because the stock market is going up. Everybody is profiting.’
Spokesman Anna Kelly said: ‘Neither the President nor his family has ever engaged – or will ever engage – in conflicts of interest.
‘All actions by President Trump and his administration are taken in the best interest of the American people – and any so-called “reporters” pushing otherwise are recycling the same, tired, false narrative that Democrats and the legacy media have been pushing for a decade.’
Presidents are exempt from the criminal conflict-of-interest law that binds other executive-branch officials.
The STOCK Act requires disclosure of individual trades but does not bar them.
Axon already holds a $370 million DHS body-camera and software contract awarded in 2023.
Its revenue hit record highs through 2025 and early 2026, driven by Taser sales.
The company spent about $2.5 million on lobbying in 2025, its highest annual total, and hired a former Palantir executive to build out its federal business.
The ICE Taser contract lapses on August 21.
