Trump made more than 1,100 trades in July alone—nearly 40 times Treasury Secretary Scott Bessent’s total for all of last year

President Donald Trump's financial accounts made nearly 40 times as many trades in one month as those belonging to Treasury Secretary Scott Bessent, a Wall Street veteran with decades of experience.

Trump earlier this week disclosed 1,156 transactions made by accounts in his name in July, including 440 purchases and 716 sales, according to a report filed with the Office of Government Ethics (OGE), first reported by Business Insider . In total, his transactions represented at least $79 million and at most $270 million in trades, according to a Fortune analysis of the report. The exact dollar amount associated with each trade was not disclosed.

In comparison, Bessent disclosed just 29 transactions for all of 2025.

All of Bessent's transactions were sales, according to an Office of Government Ethics report . Several of the transactions involved his interests in entities related to Key Square, the hedge fund he founded in 2015 and left to join the administration. Others were sales of individual stock in companies like Verizon and Archer Daniels Midland . A JPMorgan Chase stake owned by Bessent's husband, John Freeman, was also inadvertently reported as a deposit account previously and was adjusted, according to the report.

Bessent agreed to divest assets that could conflict with his new role when he agreed to become Treasury secretary.

As for Trump's transactions, a White House spokesperson previously told Fortune the president's assets are held in a trust managed by his children. Meanwhile, the large number of transactions is the result of third-party "computer-based model portfolios that automatically replicate recognized indexes, such as the Schwab 1000," the spokesperson told Fortune .

The White House did not immediately respond to Fortune 's latest request for comment.

Federal conflict of interest law 18 U.S. Code 208 legally prevents most federal officials from acts affecting a personal financial interest, but this doesn't apply to the president and vice president. Trump's volume of trading has ramped up during his second term. A disclosure filed with the OGE showed the president's accounts recorded more than 21,000 transactions during his first year back in office.

To be sure, it's unusual for a president to maintain ownership of an actively traded portfolio of individual securities while in office. Since Congress passed the Ethics in Government Act of 1978, all modern presidents have either adopted a blind trust or limited their investments to nonconflicting assets like diversified mutual funds, said Walter Shaub, former director of the Office of Government Ethics, in 2017 remarks.