The U.S. government has implicitly established a corporate equity investment portfolio of approximately $27 billion

According to Fortune, the Trump administration has invested approximately $26.7 billion in about 30 equity or quasi-equity transactions. The largest investment is a 9.9% stake in chip manufacturer Intel, currently valued at around $42 billion. Others include a $400 million investment in rare earth miner MP Materials, the "golden shares" retained when U.S. Steel was acquired by Japan's Nippon Steel, and multiple stakes in several quantum computing companies.

The report states that these holdings are spread across at least four agencies: 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). Only the DFC has a clear statutory authority for equity investments (established by Congress in 2018 for overseas development projects).

Currently, there is no unified public ledger of government holdings, with the most comprehensive public tracking maintained by the Council on Foreign Relations. Some transactions are only at the stage of signing agreements or nearing term sheets, especially the 9 quantum computing-related transactions announced by the Department of Commerce within a week.