Former Governor, Federal Reserve System Board of Governors
Adriana Kugler
Biden administration.
- Assets disclosed
- $6M to $16M
- Outside pay
- Not shown
- Trades disclosed
- 55
- Left office
- Aug 2025
Assets disclosed: on the 2025 termination filing. The values on Kugler’s latest financial disclosure to the Office of Government Ethics, added up as ranges, because the form gives ranges and never exact values.
Outside pay: shown for the current administration only. What the latest form reports was paid to the official to the dollar, outside the public salary, which is set by law.
Trades disclosed: May 2023 to Apr 2025. Transactions on 278-T reports and annual reports, which include a spouse’s and dependent children’s.
Left office: Sep 13, 2023 to Aug 8, 2025.
Outside pay is kept for the current administration only. The Office of Government Ethics drops officials from its public portal after they leave, and by law it destroys most reports six years after they are filed. We saved some earlier reports before they went, but no complete set for any earlier administration survives, and a partial record shown as if it were whole would mislead.
Start date: the cabinet record.
Leaving date: federalreserve.gov.
Largest holdings
On the 2025 termination filing
- U.S Treasury Securities$1M to $5M
- Residential Real Estate, Rockville, MD$500K to $1M
- Fidelity Contrafund - FCNKX$500K to $1M
- Spouse’s employmentDonoso & Partners LLC Cash Balance Plan and Profit Sharing Plan - Ameriprise Financial$500K to $1M
- Vanguard Institutional Target Retirement 2065 Fund Institutional Class Shares (VSXFX)$250K to $500K
- Assets listedEach with a value range
- 52
- Without a valueListed with no dollar range
- 13
Trades
Disclosed on periodic and annual reports, by year
- Bought51% of trades
- 28
- Sold49% of trades
- 27
3 of the 9 trades with a filing date to check were reported after 45 days plus any extension the filing states. The other 46 carry no filing date that can be checked.
The executive financial disclosure reports the official’s transactions together with those of a spouse and dependent children, and does not mark which is which. These trades are shown as disclosed. They should not be read as the official personally trading.
What was traded
- Individual stock
40% of trades
22 - Funds and ETFs
56% of trades
31 - Other assets
4% of trades
2
Past the deadline
3
Of the 9 trades with a filing date to check, after 45 days plus any extension the filing states
Estimated volume
$2.7M
The forms give each trade as a range of dollars. This adds the low end of every range, so the real volume is at least this and could be much more.
Net worth
Reported as ranges, so no single net worth
- Disclosed assets
- $6M to $16M
- Disclosed liabilities
- $1M to $5M
A net worth for Adriana Kugler cannot be computed from this filing: values are given as ranges, some items carry no value, and a home kept for personal use is not reported.
- Disclosed assets:
- as ranges on 52 line items, plus 13 without a dollar value
- Disclosed liabilities:
- as ranges on 1 line item
These are the lower and upper bounds of the ranges on the filing, not a market valuation. Assets and liabilities are shown separately and are never netted into a net worth. How these bands are read
The form lists each debt over $10,000 owed at any time during the period it covers, including one repaid before the period ended. A few kinds are left off, such as a debt to a close relative. The filer’s own notes on these debts:
- Bank-Fund Staff Federal Credit Union: “In previous public financial disclosure reports, the year incurred for the mortgage on her personal residence was reported as 2018. The 'Year Incurred" should have been reported as 2019.”
Kept since Aug 27, 2026. Federal law generally requires a filing to be destroyed six years after it was received, unless it is needed in an ongoing investigation.
Disclosures: Office of Government Ethics, read through Oct 24, 2026. Latest filing: 2025 termination filing.
Holdings
On the 2025 termination filing, largest range first
- U.S Treasury Securities$1M to $5M
- Residential Real Estate, Rockville, MD$500K to $1M
- Fidelity Contrafund - FCNKX
Line 1.2.1 of the filing
$500K to $1M - Spouse’s employmentDonoso & Partners LLC Cash Balance Plan and Profit Sharing Plan - Ameriprise Financial$500K to $1M
- Vanguard Institutional Target Retirement 2065 Fund Institutional Class Shares (VSXFX)$250K to $500K
These are the lower and upper bounds of the ranges on the filing, not a market valuation. Assets and liabilities are shown separately and are never netted into a net worth. How these bands are read
The form lists each debt over $10,000 owed at any time during the period it covers, including one repaid before the period ended. A few kinds are left off, such as a debt to a close relative. The filer’s own notes on these debts:
- Bank-Fund Staff Federal Credit Union: “In previous public financial disclosure reports, the year incurred for the mortgage on her personal residence was reported as 2018. The 'Year Incurred" should have been reported as 2019.”
Kept since Aug 27, 2026. Federal law generally requires a filing to be destroyed six years after it was received, unless it is needed in an ongoing investigation.
Disclosures: Office of Government Ethics, read through Oct 24, 2026. Latest filing: 2025 termination filing.
Trades
55 disclosed transactions, May 2023 to Apr 2025
What was traded
- Individual stock
40% of trades
22 - Funds and ETFs
56% of trades
31 - Other assets
4% of trades
2
Past the deadline
3
Of the 9 trades with a filing date to check, after 45 days plus any extension the filing states
Estimated volume
$2.7M
The forms give each trade as a range of dollars. This adds the low end of every range, so the real volume is at least this and could be much more.
Disclosed transactions
Newest first, five a page, each with its filing
Bought unless marked · Unspecified, every row
55 disclosed transactions, 45 of them only in the annual report. Amounts are ranges, never exact, and every row links to the official filing.
3 of the 9 trades with a filing date to check were reported after 45 days plus any extension the filing states. The other 46 carry no filing date that can be checked.
The executive financial disclosure reports the official’s transactions together with those of a spouse and dependent children, and does not mark which is which. These trades are shown as disclosed. They should not be read as the official personally trading.
Disclosures: Office of Government Ethics, read through Oct 24, 2026. Latest filing: 2025 termination filing.