Follow The Disclosure: 5 Software Names In Trump's $220M Filing - And 2 I'm Watching
The Software Rotation Shaping The 2026 Market
When the U.S. Office of Government Ethics dropped President Trump’s Q1 2026 disclosure, the headlines went straight to the conflict-of-interest angle. Fair enough. But underneath the discourse there was something more useful to anyone who actually allocates capital: a shopping list. At least $220 million in transactions, ranged between roughly $220M and $750M, with named purchases in some of the largest software and cloud franchises in the market - bought, notably, while many of them were deep in a drawdown. I want to be precise about what this is and isn’t. These are fully discretionary accounts, the White House says third-party managers run them, replicating index-style programs, and the filing only captures the personal account, not the dozens of LLCs in the structure. These names showed up in the President’s brokerage activity during a software pullback and now the run has begun, with some of the picks like ServiceNow running heavily.
The President’s account has rotated into a basket of enterprise software leaders right as the group got repriced on AI-disruption fear - creating a generational wealth opportunity for the careful eye. Retail sees a falling knife. The disclosure shows accumulation into weakness. So let’s read the room. Five software names that appeared in the filing, what their actual numbers say right now, and then two software stocks I’m watching and positioning in myself that aren’t on Trump’s list but belong in this conversation.
The five from the filing first.
