Kevin Warsh, President Donald Trump’s nominee to lead the Federal Reserve, disclosed a portfolio worth more than $100 million, including investments tied to the crypto sector. The filing reviewed this week shows positions across blockchain, artificial intelligence, and biotech, with most of the exposure coming through venture-style holdings rather than liquid securities.
According to Eleanor Terrett, the disclosed positions are indirect and illiquid. They point to venture participation instead of active trading or direct token ownership. That distinction matters, because the filing describes a portfolio built around fund interests and early-stage companies, not a book of readily tradable assets.
Juggernaut Fund LP accounts for the largest share
Warsh’s biggest holding is in Juggernaut Fund LP, which is linked to Duquesne Family Office. The fund represents more than $50 million of his reported assets, making it the central component of the disclosure.
Smaller positions appear through DCM Investments 10 LLC, with each holding listed below $500,000. These investments span emerging technology sectors, and the filing says they generated no reportable income, a sign that they remain early-stage exposures.
Crypto-linked positions include Solana, Optimism, Compound, and Polymarket
Within the crypto segment, the filing lists exposure to several blockchain projects and platforms, including Compound, Optimism, Blast, and Solana. It also names Tenderly, Stashfin, and Lemon Cash, showing that the portfolio reaches beyond one chain or one protocol category.
Warsh also holds stakes tied to trading infrastructure and crypto investment firms. The disclosure includes a position in Polymarket, the blockchain-based prediction platform. Taken together, these holdings reflect exposure to digital finance infrastructure rather than direct ownership of liquid crypto tokens.
AI and biotech ventures are also part of the portfolio
Outside crypto, Warsh’s investments extend into artificial intelligence and biotech. The AI side includes Recraft, Volt, and 11x, companies focused on AI-driven applications. Other holdings such as Partiful and Cafe X are tied to digital services and automation.
The biotech portion includes firms working on protein engineering and medical treatments, with projects linked to vaccine research and experimental contraceptive technologies. The filing also lists Delphi AI, a platform designed to digitally replicate human knowledge.
Another disclosed stake is in SpaceX, owned by Elon Musk. The overall filing points to a portfolio centered on funds and early-stage technology bets, with crypto infrastructure, AI applications, and biotech companies forming the main themes.