U.S. President Donald Trump disclosed purchases of approximately $100 million in municipal and corporate bonds from mid-November through late December 2025, according to his latest financial filings. Notably, the transactions included up to $2 million in bonds from Netflix (NFLX.O) and Warner Bros Discovery (WBD.O), just weeks after the companies announced their high-profile merger.

Overview of Trump’s Bond Purchases

The majority of Trump’s recent bond acquisitions were municipal bonds issued by cities, local school districts, utilities, and hospitals. However, his portfolio also included corporate bonds from major companies, such as:

• Boeing Co (BA.N)
• General Motors Co (GM.N)
• Occidental Petroleum (OXY.N)
• Netflix Inc (NFLX.O)
• Warner Bros Discovery (WBD.O)

These purchases represent the latest additions to Trump’s expanding investment portfolio while in office, highlighting his continued involvement in financial markets through bonds and other instruments.

Context: Netflix-Warner Bros Merger

Trump’s investments in Netflix and Warner Bros come shortly after the companies announced their proposed $83 billion merger, which faces regulatory scrutiny and a rival bid from Paramount Skydance (PSKY.O). The deal requires approval from federal regulators, placing it within the purview of the executive branch.

In December 2025, Trump indicated he could have a role in evaluating the merger, raising questions about potential conflicts of interest due to his personal financial holdings in the companies involved.

Administration Statement on Portfolio Management

A White House official, speaking on condition of anonymity, emphasized that Trump’s stock and bond portfolio is managed independently by third-party financial institutions. Neither Trump nor members of his family reportedly have the ability to influence or direct investment decisions regarding the portfolio.

Bonds as a Common Investment Strategy

Like many wealthy individuals, Trump regularly invests in bonds to diversify his holdings and secure fixed-income assets. According to previous disclosures, he purchased at least $82 million in bonds from late August to early October 2025, reflecting a consistent strategy of municipal and corporate bond investment.

Implications of Trump’s Investments

Financial experts note that while bond investments are generally low-risk, owning bonds in companies undergoing major corporate mergers can raise scrutiny regarding potential conflicts of interest, especially for a sitting president. The Netflix-Warner Bros merger, in particular, draws attention due to its scale and regulatory implications.

Looking Ahead

As regulatory authorities review the proposed merger between Netflix and Warner Bros Discovery, Trump’s bond holdings in both companies are likely to continue generating media and public attention. Meanwhile, his broader portfolio of municipal and corporate bonds underscores the president’s ongoing engagement in financial markets even while serving in office.