The person who controls Donald Trump’s investment portfolio purchased stock in John Deere three times since January, according to the president’s financial disclosure released last week.
The largest stock purchase was listed as “unsolicited,” meaning it was not recommended by a broker — the person who controls Trump’s investment funds initiated the purchase.
The John Deere stock purchases were among thousands of Trump trades in recent months, according to his May 12 financial disclosure. The transactions include millions of dollars in stock for companies that have business before the Trump administration.
For example, the fund purchased stock in Apple and Nvidia, two major tech companies. The CEOs of both companies accompanied Trump on his recent visit to meet with China’s leader, Xi Jinping, to discuss, among other things, rare earth materials, which power most of today’s technology, including iPhones.
In comparison, the stock purchases of Deere & Co., which owns the John Deere brand, were small. The largest purchase was made on March 12 and was valued between $15,001 and $50,000, according to the financial disclosure.
Other presidents have placed their wealth in a blind trust, in which the beneficiary has no say over or insight into the fund’s performance until leaving public office. Trump has refused to do so. He has also leveraged the presidency to make money for his family’s business, such as selling crypto coins and personally branded Bibles, according to the Associated Press.
Trump has maintained that his actions are above board. Regarding the nearly 4,000 trades — which one Wall Street analyst said was an “insane” number — a White House spokesperson told Bloomberg, “There are no conflicts of interest.”
Deere did not return a request for comment on the purchases.
The company has aligned itself with the Trump administration in recent months.
In December, at an event where he defended his price-hiking tariffs, Trump said farming equipment was too expensive. He specifically named Deere as a beneficiary of his administration’s efforts to cut environmental restrictions on machinery, according to Reuters.
In response, Deere posted on X, the social media platform, that it supported the administration’s moves.
The following month, on Jan. 6, the person controlling Trump’s investments bought between $500 and $1,000 in Deere stock. (The financial disclosure only requires ranges.) This trade is not listed as “unsolicited,” meaning a broker recommended it. The company’s stock shot up afterward.
Later in January, Trump held a rally in Iowa, with John Deere’s CEO and chairman, John May, in attendance. Trump touted Deere’s stock price: “How is John Deere’s stock doing? Great? All-time high?” Its stock continued to increase after the speech.
Trump also said he signed a John Deere hat for May. According to Trump, May replied that he’d put it in a museum.
At the same event, Trump also announced Deere planned to build a $70 million factory in North Carolina, which could create 150 jobs. The company had already announced its plans for the factory under former President Biden, which it acknowledged to Reuters.
The person controlling Trump’s portfolio added more Deere stock in March.
On March 12, stock valued between $15,001 and $50,000 was purchased. This was the unsolicited trade.
Then, on March 17, the fund purchased additional stock at prices between $1,501 and $15,000, according to the financial disclosure.
Soon after, at a White House event with farmers, Trump said he wanted Deere to lower their equipment prices. The company’s stock dropped 2% afterward, according to Reuters.
Deere’s stock price has since stabilized.
In May, Deere announced it was partnering with America250 and Freedom250, which were created to celebrate the 250th anniversary of the Declaration of Independence. America250 is the bipartisan commission planning the July 4 event, but Freedom250 has Trump’s blessing, according to The Washington Post.
Deere is one of 16 corporate sponsors, which includes ExxonMobil, Lockheed Martin and Palantir.
Trump’s trading also included other Big Ag companies. In February, his portfolio made two purchases of Bunge stock, both valued between $15,001 and $50,000. In March, his portfolio purchased stock in Tyson Foods and Corteva valued between $1,001 and $15,000.
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