Market Commentary

Pelosi Repositioned $69M Across Big Tech Names

Turra Rasheed
27 Jan 2026 · 3 minutes read

Nancy Pelosi, the former Speaker of the House and a long-time Democratic representative from California, has once again made headlines with her recent financial disclosure. Filed on January 23, 2026, the report details a series of high-value transactions executed by her spouse, Paul Pelosi, between late December 2025 and mid-January 2026. These moves, totaling approximately $69 million in reported activity, reflect a strategic repositioning in her portfolio, trimming large equity positions in big tech while rolling into new call options and exercising others for fresh exposure. 

This disclosure comes amid ongoing scrutiny of congressional trading, where Pelosi's portfolio has historically outperformed the market by wide margins, fueling debates about potential conflicts of interest and calls for stricter regulations.

Key Highlights from the Filing

Big Trims on Direct Stock Positions

She sold substantial blocks of shares toward the end of 2025:

  • About 45,000 shares of Apple (AAPL:US) across a direct sale on December 24 (valued $5M-$25M) and a contribution of 28,200 shares to a donor-advised fund on December 30 (another $5M-$25M range).

  • 20,000 shares of NVIDIA (NVDA:US) on December 24 ($1M-$5M).

  • 20,000 shares of Amazon (AMZN:US) on December 24 ($1M-$5M).

  • 10,000 shares of Walt Disney (DIS:US) on December 30 ($1M-$5M).

  • 5,000 shares of PayPal (PYP:US) on December 30 ($250K-$500K).

  • Smaller Alphabet (GOOGL:US) contribution of 7,704 shares to a donor-advised fund ($1M-$5M).

These sales likely locked in hefty gains after multi-year runs in these names, especially Apple and NVIDIA.

Maintaining (and Adding) Upside with Options

Instead of going fully to cash, the portfolio reloaded via calls:

Purchased 20 long-dated call options each on Alphabet (GOOGL) (strike $150, exp. Jan 2027, $250K-$500K), Amazon (AMZN) (strike $120, exp. Jan 2027, $100K–$250K), Apple (AAPL) (strike $100, exp. Jan 2027, $250K-$500K), and NVIDIA (NVDA) (strike $100, exp. Jan 2027, $100K-$250K), all on December 30, 2025. These deep in-the-money LEAPs act like leveraged stock bets with lower capital outlay, preserving strong conviction in the AI and cloud leaders.

She also exercised older calls (bought back in January 2025) on January 16, 2026, converting them into actual shares:

  • 50 calls >> 5,000 shares of Alphabet (strike $150, $500K-$1M).

  • 50 calls >> 5,000 shares of Amazon (strike $150, $500K-$1M).

  • 50 calls >> 5,000 shares of NVIDIA (strike $80, $250K-$500K).

  • 50 calls >> 5,000 shares of Vistra Corp. (strike $50, $100K-$250K).

Exercises like these often signal long-term holding intent rather than quick flips.

New Bets and Smaller Moves

  • Fresh outright purchase of 25,000 shares in AllianceBernstein Holding (AB:US) on January 16 ($1M-$5M), a dividend-focused asset manager, adding some stability and income to the mix.

  • Minor receipt of 776 shares in Versant Media Group (VSNT:US) via a Comcast spinoff on January 2 (small value, ~$15K-$50K).

Pelosi’s approach looks straightforward. She is taking profits on stocks that have risen a lot, while keeping exposure to future gains through long dated call options that expire in January 2027.

Taken together, these trades could lead to $10 to $20 million in combined realized and unrealized gains under fairly conservative market assumptions. Moving from stocks into options keeps exposure to areas like AI and power while freeing up capital, possibly for tax planning through charitable contributions.

Pelosi's Past News, Trends, and Controversies

Pelosi's trading has long been a lightning rod. Her portfolio, managed by her husband, has delivered eye-popping returns: +71% in 2024 (vs. S&P 500 +25%), +66% in 2023 (vs. +25%), and an annualized ~23% over five years (vs. S&P ~12%). Over a decade, estimates show +700-800% total returns, outperforming 97% of hedge funds and even Warren Buffett in some years.

Critics allege insider advantages, pointing to timely trades ahead of legislation (e.g., tech antitrust bills). Pelosi denies involvement, emphasizing her husband's independence, but the STOCK Act of 2012 (requiring disclosures) hasn't quelled concerns. Recent apps and trackers (e.g., "Pelosi Tracker") have popularized copying her moves, with one retail portfolio up 72% in 2025 by mimicking her. Broader trends show congressional trades beating the S&P by 17.5% annually since 2019, prompting bills for bans or blind trusts.

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