Michael Halem
The data on this page comes from a financial disclosure filed by Michael Halem, who was picked to be: Principal Deputy Assistant Secretary and Acting Assistant Secretary for Research and Technology, Department of Transportation in May, 2025. It is part of a collection of thousands of ethics documents ProPublica has been collecting from across the Trump administration.
Roles Outside Government
Officials are required to disclose paid or unpaid positions they hold or recently held outside the federal government, including roles as officer, director, trustee or employee. (Form 278e, Part 1)
| Organization | Position held | Endnote | Line No. |
|---|---|---|---|
| LENR-Invest LLC | Senior Managing Director, 3/2014 - 5/2025 | 1 | |
| LENR-Invest LLC | CEO, 1/2016 - 12/2024 | 2 | |
| Rocket Power LLC | CEO and Consultant, 3/2013 - Present | This LLC is Dormant during my federal employment. | 3 |
| AT6 Texan LLC | Manager and Pilot, 1/2015 - Present | Holding company for personal use airplane. | 4 |
| Ceramic, Inc. | Informal Advisor, 4/2025 - Present | I have not provided any advice or assistance to Ceramic since the start of my DOT appointment. I ended this consulting agreement on July 1. | 5 |
Employment Assets
Officials are required to disclose assets associated with their employment, including salary, retirement accounts, stocks, intellectual property and awards or prizes. (Form 278e, Part 2)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| Rocket Power LLC, membership interest | None (or less than $1,001) | None (or less than $201) | 1 | ||
| IRA #2 | $58,445 | cash distributions | 2 | ||
| IRA #1 | $40,058 | cash distributions | 3 | ||
| SPDR S&P500 ETF (SPY) | $100K - $250K | None (or less than $201) | 3.1 | ||
| Invesco Currency Shares (FXB) | $1,001 - $15,000 | None (or less than $201) | 3.2 | ||
| long SPY put options; strike $400; exp. 12/19/25 (value not readily ascertainable) | None (or less than $201) | 3.3 | |||
| long SPY put options; strike $400; exp. 12/31/25 (value not readily ascertainable) | None (or less than $201) | 3.4 | |||
| short SPY call options; exp. 3/31/26; strike $540 (value not readily ascertainable) | None (or less than $201) | 3.5 | |||
| short SPY call options, exp. 3/31/26 ; strike $545 (value not readily ascertainable) | None (or less than $201) | 3.6 | |||
| Broker's Money Market Fund | $1,001 - $15,000 | None (or less than $201) | 3.7 | ||
| US Tsy Note TIP 1.75% 1/15/28 | $15,001 - $50,000 | None (or less than $201) | 3.8 | ||
| US Tsy Bond TIP 1% 2/15/49 | $15,001 - $50,000 | None (or less than $201) | 3.9 | ||
| US Tsy Bond 4% 11/15/42 | $50,001 - $100K | None (or less than $201) | 3.10 | ||
| Ceramic, Inc., , Options on 5000 shares of common stock of Ceramic, Inc. (value not readily ascertainable) | None (or less than $201) | 4 | |||
| LENR-Invest LLC, , membership interest (value not readily ascertainable) | None (or less than $201) | 5 | |||
| AT6 Texan LLC, , membership interest | 6 | ||||
| One 1943 AT6 Texan aircraft | $100K - $250K | None (or less than $201) | 6.1 | ||
| IRA #3 | $21,828 | cash distributions | 7 | ||
| Public Storage (PSA) | $15,001 - $50,000 | None (or less than $201) | 7.1 | ||
| Nano Nuclear (NNE) | $1,001 - $15,000 | None (or less than $201) | 7.2 | ||
| NuScale Power (SMR) | $1,001 - $15,000 | None (or less than $201) | 7.3 | ||
| OKLO INC (OKLO) | $1,001 - $15,000 | None (or less than $201) | 7.4 | ||
| SPDR S&P 500 ETF (SPY) | $100K - $250K | None (or less than $201) | 7.5 | ||
| Long SPY put options, exp. 12/19/25; strike $400 (value not readily ascertainable) | None (or less than $201) | 7.6 | |||
| Short SPY call options, exp. 1/16/25; strike $540 (value not readily ascertainable) | None (or less than $201) | 7.7 | |||
| Short SPY call options, exp. 3/31/25; strike $550 (value not readily ascertainable) | None (or less than $201) | 7.8 | |||
| US Tsy Note TIP 1/15/28 0.5% | $15,001 - $50,000 | None (or less than $201) | 7.9 | ||
| US Tsy Bond TIP 1% 2/15/49 | $15,001 - $50,000 | None (or less than $201) | 7.10 | ||
| US Tsy Bond TIP 1% 2/15/48 | $50,001 - $100K | None (or less than $201) | 7.11 | ||
| IRA #4 | $4,024 | cash distributions | 8 | ||
| Ishares US Bond Fund (SGOV) | None (or less than $1,001) | None (or less than $201) | 8.1 | ||
| SPDR PORTFOLIO S&P 500 ETF (SPLG) | $1,001 - $15,000 | None (or less than $201) | 8.2 | ||
| SPDR S&P 500 ETF (SPY) | $50,001 - $100K | None (or less than $201) | 8.3 | ||
| US Tsy Bond TIP 1% 2/15/2049 | $15,001 - $50,000 | None (or less than $201) | 8.4 | ||
| short SPY call options, exp. 3/31/26; strike $535 (value not readily ascertainable) | None (or less than $201) | 8.5 | |||
| IRA #5 | 9 | ||||
| Millennium International Ltd Class HH Shares | $1M - $5M | None (or less than $201) | 9.1 | ||
| Cash USD | $1,001 - $15,000 | None (or less than $201) | 9.2 | ||
| IRA #6 | $121K | cash distributions | 10 | ||
| Millennium International Ltd Class HH Shares | $250K - $500K | None (or less than $201) | 10.1 | ||
| Cash USD | $1,001 - $15,000 | None (or less than $201) | 10.2 | ||
| Millennium Management 401K | $73,000 | cash distributions | 11 | ||
| MassMutual Diversified Stable Value Fund | $50,001 - $100K | None (or less than $201) | 11.1 | ||
| Fidelity S&P 500 Mutual Fund (FXAIX) | $15,001 - $50,000 | None (or less than $201) | 11.2 |
Employment Agreements
Officials are required to disclose agreements relating to other jobs, including what will happen with any small businesses they own during government service and any continued health care coverage, planned leaves of absence, severance or bonuses. (Form 278e, Part 3)
| Organization | Agreement | Endnote | Line No. |
|---|---|---|---|
| LENR-Invest LLC | LLC membership interest. LENR-Invest LLC is the manager of LENR-Invest Fund II, LLC. As manager, LENR-Invest LLC receives a percentage of the profit, if any, of LENR-Invest Fund II, LLC. LENR-Invest Fund II, LLC is described elsewhere in "other assets".. (2014-03-01) | 1 | |
| Rocket Power LLC | Ownership of LLC membership interest (2013-03-01) | 2 | |
| AT6 Texan LLC | membership interest. Note: the only asset in AT6 Texan LLC is the airplane described below. (2015-01-01) | 3 | |
| Ceramic, Inc. | Compensation for informal advice given. (2025-04-01) | 4 | |
| Millennium Management 401K | I will continue to participate in this defined contribution plan, but the plan sponsor no longer makes contributions. (1997-10-01) | 5 |
Compensation
Officials are required to disclose the sources of any compensation above $5,000 in a year. (Form 278e, Part 4)
| Organization | Description | Endnote | Line No. |
|---|---|---|---|
| Rocket Power LLC | Medical Device Engineering and Statistics Analysis | 1 |
Spouse’s Assets
Officials are required to disclose their spouse’s assets, including salary and retirement accounts worth more than $1,000. (Form 278e, Part 5)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| IRA #1 | $14,132 | cash distributions | 1 | ||
| Invesco Currency Shares (FXB) | $1,001 - $15,000 | None (or less than $201) | 1.1 | ||
| Invesco Currency Shares (FXE) | $1,001 - $15,000 | None (or less than $201) | 1.2 | ||
| SPDR S&P 500 ETF (SPY) | $100K - $250K | None (or less than $201) | 1.3 | ||
| SPDR Porfolio S&P 500 ETF (SPLG) | $1,001 - $15,000 | None (or less than $201) | 1.4 | ||
| short SPY call options, exp. 12/31/25 strike $540 (value not readily ascertainable) | None (or less than $201) | 1.5 | |||
| short SPY 3/31/26 540 Calls | $1,001 - $15,000 | None (or less than $201) | 1.6 | ||
| IRA #2 | 2 | ||||
| US TSY BOND TIP 1% 2/15/28 | $15,001 - $50,000 | None (or less than $201) | 2.1 | ||
| IRA #3 | 3 | ||||
| SPDR S&P 500 ETF (SPY) | $1,001 - $15,000 | None (or less than $201) | 3.1 |
Other Assets and Income
Officials are required to disclose other assets and sources of investment income belonging to them, their spouse or their dependent children. These include annuities, bonds, cash, college savings plans, farms, precious metals, real estate, stocks, trusts and wills. (Form 278e, Part 6)
| Description | Value | Income | Income Type | Endnote | Line No. |
|---|---|---|---|---|---|
| US Bank Account #1 | None (or less than $1,001) | None (or less than $201) | 1 | ||
| US Bank Account #2 | None (or less than $1,001) | None (or less than $201) | 2 | ||
| US Bank Account #3 | $1,001 - $15,000 | None (or less than $201) | 3 | ||
| US Bank Account #4 | $1,001 - $15,000 | None (or less than $201) | 4 | ||
| US Bank Account #5 | None (or less than $1,001) | None (or less than $201) | 5 | ||
| US Bank Account #6 | None (or less than $1,001) | None (or less than $201) | 6 | ||
| US Bank Account #7 | $1,001 - $15,000 | None (or less than $201) | 7 | ||
| LENR-Invest Fund II, LLC Membership Interest | $15,001 - $50,000 | None (or less than $201) | 8 | ||
| Brillouin Energy Corp | $15,001 - $50,000 | None (or less than $201) | 8.1 | ||
| Lenuco LLC | $1,001 - $15,000 | None (or less than $201) | 8.2 | ||
| Luberon Energies BV | $1,001 - $15,000 | None (or less than $201) | 8.3 | ||
| LENR-Cars, SA | $1,001 - $15,000 | None (or less than $201) | 8.4 | ||
| Aetna Life Insurance Co, Voya Ret & Annuity Co, whole life policy | $1,001 - $15,000 | None (or less than $201) | 9 |
About the Data
Most political appointees and senior officials in the executive branch are required by law to file public financial disclosure reports. These are documents that detail their financial holdings, positions they hold outside government, their spouse’s holdings, their liabilities and their recent financial transactions (such as buying or selling stock) during a defined reporting period.
The most senior officials file their disclosures with an agency called the Office of Government Ethics, and others file them with a designated ethics official within their agency. The Ethics in Government Act allows members of the public and the press to request these documents.
We’re publishing this information to give the public an important glimpse into the financial ties of a powerful and often hidden cadre of presidential appointees within the federal bureaucracy.
The main document type included in the database is the OGE Form 278e, which appointees must file when they are nominated (for Senate-confirmed appointees) or when they enter government (all others), and then annually while in the position. Another common document included is the OGE Form 278-T, also known as a periodic transaction report, which all public filers must submit within 30 days of a transaction. We are also making other ethics documents available, such as ethics agreements, certificates of divestiture and other documents we have obtained under the Ethics in Government Act.
Join us on Wednesday, April 8 for a walkthrough of ProPublica's new database of financial disclosures from Trump appointees and any potential conflicts they reveal. Register here.
