Fortune: The Trump administration has accumulated nearly $27 billion in corporate equity, but its investment portfolio lacks consolidated disclosure.

TechFlow reports, on July 26, Fortune magazine published an analysis stating that the Trump administration has so far invested approximately $26.7 billion through 30 equity or quasi-equity transactions, involving companies such as Intel, MP Materials, and U.S. Steel, but the related holdings are scattered across multiple government agencies, and there is currently no unified public disclosure mechanism for investment portfolios, nor is there a unified oversight and periodic reporting mechanism similar to the TARP program during the 2008 financial crisis. To date, the Trump administration's equity stakes are distributed across at least four departments, including the Department of Commerce (17 transactions), the Department of Defense (7 transactions), the U.S. International Development Finance Corporation (DFC, 6 transactions), and the Department of Energy (2 transactions), with the largest single investment being a 9.9% stake in Intel held by the U.S. Department of Commerce. Notably, Kevin Hassett, Director of the National Economic Council at the White House, stated that these equity investments are “like a down payment on the United States establishing a sovereign wealth fund,” hinting that the U.S. government may further expand its direct holdings in corporate equity.