Sen. Elizabeth Warren and Rep. Robert Garcia are pressing President Donald Trump to provide details about the outside firms and managers overseeing his investments and to clarify his knowledge of stock trades that Democrats say raise conflict-of-interest concerns. In a 17-page letter sent Wednesday and seen by CNBC, they asked Trump to identify all third-party institutions and managers directing his trades, explain how they were chosen and describe the mandates and processes governing the accounts. The push centers on the large volume of trading disclosed in Trump's filings. CNBC previously found more than 21,000 trades in 2025 alone in Trump's 927-page annual financial disclosure, while Warren and Garcia said he reported more than 3,500 trades in the first three months of 2026, or about 50 trades on every day markets were open during the quarter. They argued that such activity by a sitting president is unprecedented and could create the appearance of insider trading, market manipulation or policy decisions that benefit a personal portfolio. The lawmakers pointed to purchases of Nvidia and Advanced Micro Devices on Jan. 6, one week before the administration announced loosened export controls, and to a Feb. 10 purchase of between $1 million and $5 million of Axon Enterprises stock before Immigration and Customs Enforcement unveiled a $220 million Taser contract. They also questioned sales of Microsoft and Meta shares and cited a Dell purchase on Feb. 10 that preceded Trump's public remark on Feb. 19, "Go out and buy a Dell Computer." The letter also challenges conflicting public descriptions of Trump's financial arrangement. Trump said in July that funds run his money and that he does not speak to them. The White House has denied the disclosures show conflicts of interest, even as some estimates indicate Trump made more than $2.2 billion in revenue last year. Much of his wealth is held in a revocable trust bearing his own name, with Donald Trump Jr. as sole trustee, a structure that gives him more control than a blind trust. Eric Trump has said the holdings are maintained in fully discretionary accounts managed by independent third-party institutions and, separately, that all of the family's assets are in a blind trust, a claim the New York Times reported had no indication of existing. Warren and Garcia said Trump's own signed disclosure, which certified his awareness of thousands of individual stock transactions, undercuts that assertion. The Democrats said the information would inform possible legislation banning presidents from owning individual stocks, and the letter signals broader scrutiny if Democrats win one or both chambers of Congress in the November midterms. They asked Trump to respond by Aug. 28.