Hedge fund Qube Research & Technologies has disclosed a $105-million short position in President Donald Trump‘s company, Trump Media & Technology Group (TMTG), according to a filing.
When an investor takes a short position in a company’s stock, it means they are betting that the share price will decline, so they can buy them back at a lower price. This means they are betting against the investment’s fortunes.
Newsweek has contacted TMTG and Qube to comment on this story.
Why It Matters
Qube’s position in Trump Media is worth 2.53 percent of Trump Media’s total float. It was filed with Germany’s federal Gazette Bundesanzaiger and first reported by research firm Breakout Point.
Reuters reported that shares in Trump Media are down 44 percent this year after roughly doubling in value last year.
Breakout Point said the Qube filing marked the first regulatory short disclosure in Trump Media by any organization.
There has been public interest in TMTG, the parent company of Truth Social, the president’s social media platform, since it went public in 2024. The president owns 57.3 percent of the company, according to The Associated Press. There are around 600,000 investors in Trump Media, according to Reuters.
Photo by: Christoph Dernbach/picture-alliance/dpa/AP Images
In December 2024, Trump transferred 114.75 million of his TMTG shares to the Donald J. Trump Revocable Trust, which he owns and has his oldest son, Donald Trump Jr., as the sole trustee.
He founded Truth Social in February 2022 after he was banned from Twitter, now called X, following the storming of Congress on January 6 by hundreds of his supporters.
Since the company went public in March 2024, TMTG stock has been volatile, closing at a high of $66.22 on its second day of trading before falling to a close of $22.84 on April 16, 2024. On April 15, 2025, it opened at $18.93.
The stock value increased at the start of May and then dropped after the then presumptive Republican presidential nominee was found guilty of falsifying business records in relation to a hush money payment made to adult film star Stormy Daniels.
TMTG stock declined throughout the summer, and hit a low closing price of $12.15 in mid-September.
On April 15, TMTG announced that Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, along with Yorkville America Equities, an America-First asset management firm, and Index Technologies Group had created a strategic partnership and launched a new suite of Truth Social-branded separately managed accounts.
What Happens Next
The price of TMGT is likely to continue to fluctuate. In general, the value of stocks on the market have varied in tandem with Trump’s changing tariffs policy.
After the introduction of 10-percent import tariffs on trading partners around the world, markets fell sharply, and when the White House later paused them for 90 days, the numbers rebounded.