When Donald Trump returned to the White House in January 2025, few expected his administration to take a Wall Street-style approach to policymaking. Yet within months, federal agencies under Trump’s direction have quietly built one of the fastest-growing investment portfolios in recent history, transforming $9.4 billion at the start of the year into more than $17 billion today.
According to portfolio tracking data from Insiderwave, the so-called “Trump Administration portfolio” is up 168.99% year-to-date, delivering gains that outpace not only the S&P 500 but also the closely watched congressional stock trackers.
By comparison, Trump’s performance is estimated to be nearly 15 times higher than Nancy Pelosi’s portfolio gains over the same period.
What’s in the Trump Administration portfolio?
The holdings lean heavily into U.S. strategic industries. Intel (NASDAQ: INTC) dominates the basket, accounting for more than 91% of exposure, with a position valued at $16.1 billion and up 81.8% year-to-date. The rest of the portfolio tilts toward critical minerals: MP Materials, Lithium Americas (NYSE: LAC) , and Trilogy Metals. These smaller allocations have delivered eye-catching triple-digit returns, led by MP’s 216.9% surge and TMQ’s 213.9% jump.
In total, the mix reflects Trump’s emphasis on semiconductor leadership and securing supply chains for rare earths and battery metals, sectors where Washington has increasingly clashed with Beijing.
Not personal money but U.S. taxpayer money
It’s important to clarify that these investments are not being made from Trump’s personal wealth or by his inner circle. Instead, they are executed through federal agencies such as the Department of Defense (DoD) and Department of Energy (DoE), which are deploying taxpayer dollars into select U.S. companies.
The logic is twofold: strengthen America’s technological edge while capturing equity upside. Government-negotiated entry points often come with terms unavailable to retail investors, raising questions about transparency, access, and whether taxpayers share in the windfall.
Implications for markets
The Trump Administration’s aggressive use of public capital in private markets is unusual, even by historical standards. If sustained, it could reshape the relationship between government and industry, blurring the lines between industrial policy and outright equity investing.
All in all, the government’s picks are worth tracking, not least because they suggest which companies Washington is betting on to anchor U.S. competitiveness over the next four years.
Featured image:
Elkowitz, Jonah M. National Harbor, MD, USA – February 24, 2024. Digital Image. Shutterstock.
