Secretary, Department of Commerce
Howard Lutnick
Second Trump administration.
- Assets disclosed
- At least $806M
- Outside pay
- $280.6M
- Trades disclosed
- 20
- In office since
- Feb 2025
Assets disclosed: on the 2025 nominee filing. The values on Lutnick’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: from before office, nominee form. What the latest form reports was paid to the official to the dollar, outside the public salary, which is set by law.
Trades disclosed: Mar 2025 to Oct 2025. Transactions on 278-T reports and annual reports, which include a spouse’s and dependent children’s.
In office since: took office Feb 21, 2025.
Start date: the cabinet record.
Outside pay
On the nominee form, filed 2025
$280.6M
in all
- Salary and wages
- 24.9%$70.0M
- Partnership share and draws
- 75.1%$210.6M
- Largest payerCantor Fitzgerald, L.P.
- $199.0M
- PayersNamed on the form
- 8
Trades
Disclosed on periodic and annual reports, by year
All in 2025
20 trades, Mar 2025 to Oct 2025
- Bought0% of trades
- 0
- Sold100% of trades
- 20
3 of the 20 trades with a filing date to check were reported after 45 days plus any extension the filing states.
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
45% of trades
9 - Funds and ETFs
20% of trades
4 - Other assets
35% of trades
7
Past the deadline
3
After 45 days plus any extension the filing states
Estimated volume
$259.6M
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
- At least $806M
- Disclosed liabilities
- At least $105M
A net worth for Howard Lutnick cannot be computed from this filing: values are given as ranges, some items carry no value, the highest range has no upper limit, and a home kept for personal use is not reported.
- Disclosed assets:
- as ranges on 107 line items, plus 138 without a dollar value; 12 of those ranges are open ended
- Disclosed liabilities:
- as ranges on 3 line items; 2 of those ranges are open ended
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 of America, N.A: “Loan on behalf of Lutnick 1999 Descendants' Trust and Lutnick 2020 Descendants' Trust Howard Lutnick is the guarantor”
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 nominee filing.
Outside pay
On the nominee form, filed 2025
Nominee report, filed 2025
$280.6M
Nominee report, filed 2025
$280.6M
- Partnership share and drawsCantor Fitzgerald, L.P.$198,984,693
- Salary and wagesNewmark Group, Inc. (NMRK)$30,000,000
- Salary and wagesCantor Fitzgerald Securities$16,000,000
- Salary and wagesBGC GROUP, INC.$11,000,000
- Salary and wagesBGC GROUP, INC.$8,000,000
The amounts the latest form gives to the dollar, paid to the official outside the public salary. A nominee form is filed before taking office, so its pay is from before office.
Sources: OGE Form 278 reports, Part 2, released by the Office of Government Ethics. Pay for the public post is set by law and is not on the form. Open the form.
Disclosures: Office of Government Ethics, read through Oct 24, 2026. Latest filing: 2025 nominee filing.
Holdings
On the 2025 nominee filing, largest range first
- Cantor Fitzgerald, L.P.
Line 1.1 of the filing
At least $50M - Cantor Fitzgerald, L.P.
Line 1.1.1 of the filing
At least $50M - BGC Group, Inc. (BGC)
Line 2.1 of the filing
At least $50M - HIC Repo (overnight purchase agreement through Cantor Fitzgerald & Co., for U.S. Government guaranteed collateral)
Line 2.3 of the filing
At least $50M - Newmark Group, Inc. (NMRK) DRS
Line 2.5 of the filing
At least $50M
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 of America, N.A: “Loan on behalf of Lutnick 1999 Descendants' Trust and Lutnick 2020 Descendants' Trust Howard Lutnick is the guarantor”
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 nominee filing.
Trades
20 disclosed transactions, Mar 2025 to Oct 2025
All in 2025
20 trades, Mar 2025 to Oct 2025
What was traded
- Individual stock
45% of trades
9 - Funds and ETFs
20% of trades
4 - Other assets
35% of trades
7
Past the deadline
3
After 45 days plus any extension the filing states
Estimated volume
$259.6M
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
Sold · Unspecified, every row
20 disclosed transactions, as filed on the official’s OGE 278-T. Amounts are ranges, never exact, and every row links to the official filing. A symbol marked with an asterisk was matched from the company name on the filing. The filer did not write a symbol down.
3 of the 20 trades with a filing date to check were reported after 45 days plus any extension the filing states.
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 nominee filing.