Former Secretary, Department of the Navy
John Phelan
Second Trump administration.
- Assets disclosed
- At least $797M
- Outside pay
- $284,808
- Trades disclosed
- 176
- Left office
- Apr 2026
Assets disclosed: on the 2025 nominee filing. The values on Phelan’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 Apr 2026. Transactions on 278-T reports and annual reports, which include a spouse’s and dependent children’s.
Left office: Mar 25, 2025 to Apr 22, 2026.
Start date: the cabinet record.
Leaving date: militarytimes.com. Hung Cao acting, nominated Sep 2, 2026.
Outside pay
Salary and wages, on the nominee form, filed 2025
- Rugger Management LLC (private investment company)$172,308
- AeCe ISA Ltd. (private investment company)$75,000
- AeBe ISA Ltd. (private investment company)$37,500
- PayersNamed on the form
- 3
- Largest itemIts share of the pay
- 60%
Trades
Disclosed on periodic and annual reports, by year
- Bought45% of trades
- 79
- Sold55% of trades
- 97
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.
5 of the 176 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
7% of trades
13 - Funds and ETFs
34% of trades
60 - Other assets
59% of trades
103
Past the deadline
5
After 45 days plus any extension the filing states
Estimated volume
$104.3M
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 $797M
- Disclosed liabilities
- At least $125M
A net worth for John Phelan 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 263 line items, plus 594 without a dollar value; 5 of those ranges are open ended
- Disclosed liabilities:
- as ranges on 39 line items; 1 of those ranges is 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.
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.
Holdings
On the 2025 nominee filing, largest range first
- Fine Art and Furniture CollectionAt least $50M
- Broadcom, Inc. (AVGO)At least $50M
- Dell Technologies, Inc. (DELL)At least $50M
- BLF Treasury Trust (TTTXX)At least $50M
- MSD Hospitality Partners LPAt 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.
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
176 disclosed transactions, Mar 2025 to Apr 2026
What was traded
- Individual stock
7% of trades
13 - Funds and ETFs
34% of trades
60 - Other assets
59% of trades
103
Past the deadline
5
After 45 days plus any extension the filing states
Estimated volume
$104.3M
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 unless marked · Unspecified, every row
176 disclosed transactions, as filed on the official’s OGE 278-T. Amounts are ranges, never exact, and every row links to the official filing.
5 of the 176 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.