Nancy Pelosi

Nancy Pelosi is a former U.S. Representative (D-CA) and former Speaker of the House who is exiting Congress at the end of her current term. Her portfolio activity is tracked via STOCK Act Periodic Transaction Reports (PTRs), which legally mandate disclosure of trades made by members of Congress and their spouses — in this case, trades are predominantly attributed to her husband Paul Pelosi, a San Francisco venture capitalist. Her most recent PTR, filed January 23, 2026, disclosed more than $10 million in cumulative transactions spanning late December 2025 through mid-January 2026.

The disclosed portfolio exhibits a signature strategy of purchasing deep-in-the-money LEAP call options on mega-cap technology names — typically struck 1–2 years out — then exercising them into shares at a substantial discount to prevailing market prices, functioning as a leveraged directional bet rather than a passive holding strategy. Position sizing is aggressive, with individual disclosed transactions ranging from hundreds of thousands to tens of millions of dollars, and the largest stakes concentrated in a handful of high-conviction mega-cap tech names. Recent filings reveal a deliberate broadening into AI-adjacent themes: AI infrastructure (NVDA, AVGO), AI healthcare (TEM), and AI-linked power generation (VST), alongside a new large financial-services position in AllianceBernstein. The portfolio also shows periodic repositioning — late December 2025 saw heavy trimming and full exits (AAPL reduction, PYPL and DIS fully closed), some via donation to a donor-advised fund rather than outright sale. Turnover is episodic rather than constant: long quiet periods punctuated by concentrated transaction clusters.

The disclosed portfolio is overwhelmingly concentrated in large-cap U.S. technology and technology-adjacent sectors, with particular depth in cloud computing, semiconductors, cybersecurity, and AI infrastructure (GOOGL, AMZN, NVDA, AVGO, PANW). Secondary concentration has emerged in AI-enabling themes beyond pure tech: AI-driven healthcare data (Tempus AI), power/energy infrastructure supporting AI compute (Vistra), and asset management (AllianceBernstein).

• ["- The January 23, 2026 PTR filing covers 27 disclosed signals across 11 tickers, with cumulative disclosed transaction value of $10M+ for the late-December 2025 through mid-January 2026 window alone.","- GOOGL carries the highest weighted conviction score (1.89) of any ticker on file, with 4 buy signals vs. 1 sell signal and $2.3M–$7.5M in disclosed size; note this is a single-source signal and should be treated with more caution than VERIFIED tickers.","- AMZN and NVDA are both VERIFIED (2+ independent sources agree) with convictions of 1.67 and 1.57 respectively — the two strongest cross-validated accumulation signals in the current dataset.","- AAPL is the highest-conviction SELL on file (conviction -1.11, VERIFIED), with $10.3M–$50.5M in disclosed size across 1 buy and 2 sell signals; the last disclosed action was a sell on 2025-12-30, with some shares reportedly transferred to a donor-advised fund.","- DIS and PYPL are both VERIFIED net-sell signals (convictions -0.80 and -0.83), each showing a single disclosed full-exit sale on 2025-12-30 with no offsetting buy activity on record.","- The disclosed portfolio returned +20.1% in 2025 per Unusual Whales' annual report, versus the S&P 500's +16.6%, consistent with a multi-year pattern of index outperformance noted across multiple trackers.","- As Pelosi is exiting Congress in early 2026, the STOCK Act PTR obligation that generates these signals will cease — the forward information value of new filings is expected to taper and eventually end.","- All disclosed trades are legally attributed to spouse Paul Pelosi; PTR filings can lag the actual execution date by up to approximately 45 days, making every signal a lagging indicator of activity that has already occurred."]