Trump sons’ fund racks up paper profits in microcap ventures

A fund backed by Donald Trump Jr. and Eric Trump has been racking up eye-popping paper profits through a portfolio of small, thinly traded stocks. American Ventures, managed by Dominari Holdings Inc., has turned microcap investing into something resembling a spectator sport, with stock prices spiking on news of the Trump family’s involvement.

The estimated paper profits run into the hundreds of millions of dollars.

The warrant playbook

American Ventures operates as roughly a $1 billion fund that has parked money in at least 10 microcap companies. The strategy leans heavily on warrants, which are essentially options that let the fund buy shares at predetermined prices. If the underlying stock rises, the spread between the warrant price and market price balloons into profit, at least on paper.

The warrant holdings alone are potentially worth over $300 million, according to available estimates. Among the standout positions: an estimated $165 million or more in Aureus Greenway Holdings and roughly $132.5 million in Skyline Builders Group warrants as of mid-2026.

One such announcement triggered a 12% single-day gain, the kind of move that turns warrant holders’ paper profits into very large numbers very quickly.

The Trump Tower connection

The Trump sons became advisers to American Ventures around early 2025, with operations based out of Trump Tower in New York.

The fund has sold stocks in connection with news coverage, booking what appear to be quick profits from positions that benefited from heightened public interest.

Paper profits vs. real money

The distinction between paper profits and realized gains matters enormously here. Paper profits represent the current market value of holdings minus their cost basis. They exist only as long as the market price cooperates.

The actual realized gains from American Ventures’ sales remain unclear.

American Ventures has not ventured into cryptocurrency or digital asset trading. Despite the Trump family’s well-documented forays into crypto through other channels, this particular fund has stuck to traditional equity markets. Any references to crypto assets in the fund’s ecosystem appear only tangentially in certain deal structures rather than as a core investment thesis.

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