Nancy Pelosi
She doesn't talk investing philosophy, but the filings show one consistent playbook: heavy mega-cap tech stock positions levered with deep-in-the-money LEAPS calls; exercise into shares before expiry while rolling into new ones; concentrate sales and stock gifts at year-end. Margin debt across two brokerage accounts runs up to the $25M–$50M band — a leveraged, concentrated tech book.
A U.S. Representative from California since 1987 and twice Speaker of the House. Every trade in her filings is marked SP (spouse) — executed by her husband, venture capitalist Paul Pelosi. Repeatedly well-timed mega-cap tech trades made her the icon of copy-trading culture; a third party even launched an ETF (NANC) tracking Democratic lawmakers' trades. She long opposed banning stock ownership by members. Note: third-party return estimates and insider-info accusations alike cannot be proven from the filings — what the filings prove is only the trades themselves.
Under the STOCK Act, members must file a Periodic Transaction Report (PTR) within 30 days of becoming aware of a trade (45 days of the trade at most), plus an annual financial disclosure each May. Two key limits: amounts are ranges only (e.g. $1M–$5M) — no exact figures, no portfolio weights, hence no percentages on this page; and the 30–45 day lag means you never see last week's trades. All originals are free on the House Clerk site; every item here links to the PDF.
Real market returns of Unusual Whales' Democratic-lawmaker tracker ETF — not her actual account. Her true returns are never disclosed; Unusual Whales' model estimated ~+20.1% for 2025 (unofficial).
Holdings & weights
FY2025 annual disclosure (as of Dec 31, 2025) + 2026 PTRs through the Jun 23, 2026 filingHoldings from public disclosure filings (e.g. top-10 tradable holders, STOCK Act reports); portfolio weights aren't disclosed at this level. House Clerk official disclosure database (original PTR/FD PDFs)
Her latest trade (May 29, 2026): bought 200 calls, $50 strike, Mar 2027 expiry, $1M–$5M band. Filed 25 days later (PTR #20034836).
Analyze through a master's lensSame day as Intel (May 29, 2026): 200 calls, $50 strike, Mar 2027, $500K–$1M band.
Analyze through a master's lensNew position Jan 16, 2026: 25,000 shares, $1M–$5M band — a rare asset-manager name in the book.
Analyze through a master's lensDec 2025: sold 45,000 shares ($5M–$25M) and gifted 28,200 to a donor-advised fund, while rolling into Jan 2027 LEAPS — stock still in the $5M–$25M band.
Analyze through a master's lensSold 20,000 shares on Dec 24, 2025 while rolling into 2027 LEAPS. Her 500 calls bought in 2023 at a $12 strike were exercised in late 2024 — textbook option rolling.
Analyze through a master's lensStock in the $5M–$25M band plus rolling LEAPS; gifted 7,704 shares to a donor-advised fund in late 2025.
Analyze through a master's lensExercised 200 calls at an $80 strike in Jun 2025 for 20,000 shares ($1M–$5M band) — deep-in-the-money options bought mid-2024.
Analyze through a master's lensOne of several long-term holdings in the $5M–$25M band (with CRM, V); PANW, NFLX, CRWD, AXP sit in the $1M–$5M band.
Analyze through a master's lensExercised 50 calls ($20 strike) into shares in Jan 2026 — the AI-health name whose disclosure sparked a copy-trading wave in early 2025.
Analyze through a master's lensExercised 50 calls ($50 strike) into shares in Jan 2026 — the power / AI-energy theme position.
Analyze through a master's lensIn their own words
"We're a free market economy. They should be able to participate in that." — when asked about banning congressional stock trading
CNBC, Dec 15, 2021 press conference
Where to follow them
Primary sources. Read the original — don't settle for second-hand summaries.
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