Trump Held Millions in Arms Stocks From Firms Profiting From War on Iran, Analysis Finds
Trump's Portfolio Held Millions in Stocks of Firms That Profited From the War on Iran
Brokers acting for US President Donald Trump bought between $9.7 million and $24.3 million worth of shares last year in arms manufacturers and military contractors that went on to profit from the war of aggression against Iran, according to a new report.
The analysis, published Thursday by Responsible Statecraft — the online magazine of the Quincy Institute — found that the shares in firms such as Palantir, Lockheed Martin, General Dynamics, and RTX were accumulated during 2025, before the military campaign against Iran. The findings are drawn from a financial disclosure recently released by the president.
The holdings
According to the report, Trump’s brokers purchased between $1.6 million and $3.9 million in stock of Palantir — the surveillance-technology firm behind the Maven Smart System, the AI targeting tool used to strike 1,000 targets in Iran on the opening day of the assault.
Among the other holdings detailed in the disclosure: up to $1.4 million in Lockheed Martin, maker of the F-35 and F-22 jets deployed against Iran; up to $1 million in General Dynamics, which builds heavy bombs and missiles used in the attacks; more than $800,000 in RTX, manufacturer of the Tomahawk missiles used in the deadly strike on a school in the southern Iranian city of Minab; and up to $3 million in GE Aerospace, which produces parts for aircraft flown by the US and Israel against Iran.
Many of those same companies, the report noted, have since won large contracts to replenish weapons stockpiles run down during the war. Some contractors in Trump’s portfolio also deal directly with Israel — among them Boeing, which sold $8.6 billion worth of F-15 jets to Tel Aviv less than three months before the second US-Israeli assault on Iran began on February 28.
Stocks that soared
Almost all of the shares Trump acquired rose sharply during the first year of his administration, the analysis said. The purchases formed part of a wider financial disclosure showing that the president generated some $2 billion through private ventures last year, including roughly $1.4 billion from cryptocurrency sales.
The report is the latest to draw attention to questions of profiteering surrounding the two US-Israeli wars on Iran — the first, a 12-day assault in June 2025, and the second a 40-day campaign that began in late February 2026 and halted in early April. In both, Iranian officials say the country’s resistance and retaliatory operations forced the aggressors to accept a ceasefire.
Reference: PressTv