The holdings of U.S. Treasury Secretary Janet Yellen: S&P 500, Nasdaq, Bitcoin, Gold
Besant holds over $50 million in S&P 500 and Nasdaq ETFs, $250,000 to $500,000 in iShares Bitcoin Trust ETF, and over $50 million in U.S. Treasury bonds. Additionally, it includes various assets such as artworks and antiques, farmland, luxury homes, and more, with total assets amounting to at least $521 million
Trump's nominee for Treasury Secretary, Bensent, is about to attend a Senate hearing, and in this context, his investment holdings have been revealed. Bensent plans to sell assets to avoid conflicts of interest.
On Monday, financial documents released by the U.S. Office of Government Ethics showed that Bensent, Trump's nominee for Treasury Secretary, holds at least $521 million in assets. Since the report uses a range, the actual asset size may be much higher, and his assets and investments could exceed $700 million.
The documents indicate that Bensent holds U.S. stocks, foreign exchange, U.S. Treasury bonds, Bitcoin, as well as various assets including art, antiques, and farmland. Here are the main asset holdings of Bensent:
ETF Investments: Holds over $50 million in major ETFs such as the SPDR S&P 500 ETF (SPY) and Invesco QQQ Trust (QQQ).
Foreign Exchange Positions: Holds over $50 million in U.S. dollar trading positions against the euro, renminbi, and yen.
Treasury Bonds: Holds over $50 million in U.S. Treasury bonds.
Real Estate: Owns luxury properties valued between $5 million and $25 million in the Bahamas and Cashiers, North Carolina.
Art and Antiques: Valued between $1 million and $5 million.
Bitcoin: Holds between $250,000 and $500,000 in iShares Bitcoin Trust ETF (IBIT).
Farmland: Owns farmland in North Dakota valued up to $25 million, growing soybeans and corn.
According to media reports citing anonymous sources familiar with Bensent's investment strategy, as an investor, Bensent has long been bullish on the strength of the U.S. dollar. He gained fame in the 1990s for shorting the pound, earning $1 billion for Soros Fund Management. He has also made headlines for shorting the yen.
However, Bensent's recent hedge fund performance has not been outstanding. His Key Square Capital, founded in 2016, initially raised $4.5 billion (including $2 billion from Soros), but the assets under management have significantly shrunk since then. A fund he operated in the early 2000s also performed mediocrely.
Bensent's Bitcoin holdings have drawn attention to the Trump administration's cryptocurrency policy. According to The Wall Street Journal, Trump has indicated plans to develop a national cryptocurrency strategy, including possibly establishing a strategic Bitcoin reserve through executive order. However, the Federal Reserve recently stated that it does not have the authority to purchase Bitcoin without legislative changes.
As a potential Treasury Secretary, Bensent would play a key role in the economic policies of the Trump administration, including promoting tax cuts, deregulation, and renegotiating trade agreements. Additionally, the Trump administration is expected to support cryptocurrencies, and Bensent's experience in this area could have significant implications.
**To avoid potential conflicts of interest, Bensent has pledged that if confirmed by the Senate, he will resign from Key Square Capital Management and sell his partnership stake. Media reports indicate that he also plans to divest several investments that could pose potential conflicts of interest, including Bitcoin ETFs, renminbi trading accounts, and shares in All Seasons (a conservative publishing company) **