Biden senior advisor Anita Dunn has to divest investment portfolio to

White House senior advisor Anita Dunn is being forced to divest an investment portfolio worth an estimated $16.8 million to $48.2 million that ethics attorneys say poses significant conflicts of interest in her new role.

The political and communication’s strategist will also have to recuse herself from a myriad of domestic and international issues that affect her former clients.

Dunn’s newly released financial disclosures, which are 93 pages long, show extensive stock, options, bond and private equity holdings — a fortune she and her husband, veteran attorney Bob Bauer, have amassed over the years. Bauer is a high-powered lawyer who served in the White House under the Obama administration; Dunn is a founding member of the consulting firm SKDK where she was paid $738,715 over the last 2 1/2 or so years, according to the White House. The disclosure form also provides insight into her extensive client list at SKDK.

White House spokesman Chris Meagher told CNBC in an email Thursday that Dunn will need to divest her holdings and is recused from all matters involving SKDK and her past clients. She also won’t be able to attend any meetings involving them for two years, pursuant to the Biden-Harris ethics pledge, he said. The form discloses transactions over the two calendar years preceding her May 9 appointment, Meagher added.

“The ethics rules require White House officials to recuse from matters that conflict with their financial interests. When officials have a large scope of duties and an even larger stock portfolio, sunlight is the best disinfectant,” Kedric Payne, the vice president and general counsel of the watchdog Campaign Legal Center, said after reviewing her disclosure.

Dunn worked for the president as one of his senior advisors from January 2021 through that August before returning for a brief stint this March. She was considered a special government employee for both posts who was exempt from disclosing her assets. She wasn’t required to file a public disclosure form until her most recent appointment in May.

She returned as President Joe Biden’s public poll numbers were in flux and the administration was struggling with a panoply of vexing global and domestic crises, including Russia’s invasion of Ukraine, the supply chip shortage, rising gas prices and sky-rocketing inflation. Biden also announced he was nominating Judge Ketanji Brown Jackson to the Supreme Court in late February.

The disclosure also shows dozens of stock holdings acquired by Dunn and her husband, including call and put options tied to the S&P 500, corporate and municipal bonds and a plethora of individual stocks held in numerous brokerage accounts. Those brokerage accounts show investments into corporate giants such as Amazon, Alphabet, Boeing, Bank of America, Chevron, Dow, KKR and Morgan Stanley. The couple’s portfolio is diverse and includes at least $500,000 tied up in a hedge fund.

Ethics requirements for White House officials and lawmakers don’t require precise…