Federal Portfolio
Trump Admin
Every direct equity stake the U.S. federal government has taken in a public or private company since January 2025. The Trump administration has built the biggest state-as-investor portfolio since World War II — including the 9.9% Intel stake worth $36B+ today. We track it from SEC 8-K filings (public companies) and agency press releases (private deals).
Where the data comes from
SEC 8-K filings · agency press releases (Commerce, Defense, Energy, Treasury) · re-checked every 15 minutes for 8-Ks and daily for press releases. Every row links to its primary public source.
Last new deal added 1d ago. Next press-release sweep in 19h. 8-Ks scanned every 15 min.
Total deals
16
Disclosed value
$180.55B
Public companies
10
Private companies
6
Federal portfolio · live market value
across 16 deals · marks update hourly
$230.86B
- TSM71.5%
- INTC26.0%
- Westinghouse Electric Co1.0%
- MP0.7%
- LHX0.4%
- Atlantic Alumina Company0.1%
- xLight0.1%
- Rigetti Computing, Inc.0.0%
- Other (4)0.1%
4 smaller positions grouped into Other.
Commerce7 dealsDefense4 dealsEnergy3 dealsState1 dealTreasury1 deal
Latest additions
All deals
2026-02-03
State
Taiwan Semiconductor Manufacturing (capex commitment)TSM
TSMC commits $165B US capex (no equity, included for trade-policy context)
$165.00B
Other
2025-08-22
Commerce
Intel CorporationINTC
Commerce takes 9.9% Intel stake by converting $8.9B CHIPS + Secure Enclave grants
$60.06B(+386.8%)
from $8.90B announced
9.90% stake
CHIPS Act
2025-10-28
Commerce
Westinghouse Electric CompanyPrivate
Commerce signs $80B Westinghouse nuclear-build deal with 8% federal participation
$2.40B
8.00% stake
Other
2025-07-10
Defense
MP Materials Corp.MP
Department of Defense becomes MP Materials' largest shareholder with 15% stake
$1.69B(+40.2%)
from $400.0M announced
15.00% stake
DPA Title III
2025-11-15
Defense
L3Harris Aerojet Rocketdyne (rocket motors)LHX
Pentagon to invest $1B in L3Harris rocket-motor business pre-IPO 2H 2026
$1.00B
Other
2026-01-14
Commerce
Atlantic Alumina Company (ATALCO)Private
Commerce takes $150M equity stake in Atlantic Alumina (US aluminium-oxide)
$150.0M
DPA Title III
2025-11-20
Commerce
xLightPrivate
Commerce invests up to $150M in xLight EUV-lithography startup
$150.0M
CHIPS Act
2026-05-21
Commerce
Rigetti Computing, Inc.
Rigetti signs $100M CHIPS Act LOI with Commerce Dept for quantum R&D including equity stake
$100.0M
CHIPS Act
2026-05-21
Commerce
D-Wave Quantum Inc.
D-Wave signs LOI for $100M CHIPS Act funding, will issue shares to Commerce
$100.0M
CHIPS Act
2025-09-18
Energy
Lithium Americas Corp.LAC
DOE Loan Programs Office takes 5% stake plus $2.26B loan-to-equity at Thacker Pass
$86.4M(+52.8%)
from $2.26B announced
5.00% stake
DOE LPO
2025-10-06
Defense
Trilogy Metals Inc.TMQ
DOD pays $35.6M for 10% of Trilogy Metals (Alaska copper-cobalt project)
$68.3M(+89.5%)
from $35.6M announced
10.00% stake
DPA Title III
2025-12-12
Commerce
Vulcan ElementsPrivate
Commerce $50M CHIPS-funded stake in Vulcan Elements (rare-earth magnets)
$50.0M
CHIPS Act
2026-01-30
Energy
Lithium Americas Corp.
DOE receives warrants for 5% equity stake in Lithium Americas and JV
5.00% stake
DOE LPO
2026-01-21
Defense
ReElement TechnologiesPrivate
DOD equity stake in ReElement Technologies (rare-earth refining)
DPA Title III
2025-12-05
Energy
Korea Zinc Tennessee Refinery JVPrivate
DOE takes 40% stake in Korea Zinc Tennessee critical-metals refinery JV
40.00% stake
DPA Title III
2025-06-13
Treasury
United States Steel CorporationX
Trump secures 'golden share' in US Steel as Nippon-deal condition
Other