U.S. President Donald Trump made more than 21,000 securities trades in his first year back in office, often in intense bursts tied to market events he created.

The total dollar value of the trades was somewhere between $600 million and $1.86 billion, according to his financial disclosure for 2025, which lists values in broad ranges. Many of the transactions involve large companies that have business with the federal government.

Trump averaged 85 trades per market day, an analysis of the report shows. Just 10 days accounted for about a quarter of all trades executed in 2025. Many of those came during heightened volatility on Wall Street after Trump had already announced policy changes.