Longtime California Congresswoman Nancy Pelosi, a Democrat, is known for her great long-term track record in stock investing.
The former Speaker of the U.S. House of Representatives and her husband, Paul Pelosi, have a net worth of about $275 million, according to Quiver Quantitative, which tracks the net worth of politicians. Much of that wealth can be attributed to successful stock investing, particularly in large-cap tech stocks.
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A San Francisco base is likely a plus for tech stock investing
Paul Pelosi is likely doing most of the couple's investing, as he runs a San Francisco-based investment firm. The Pelosis are longtime residents of San Francisco, and Nancy Pelosi represents California's 11th congressional district, which includes most of the city. It would seem likely that this proximity to California's Silicon Valley, where most of the big tech companies are headquartered, has benefited their stock investing.
Many folks believe that members of Congress have access to inside information that they use in their stock investing. Whether that's true or not is beyond the scope of this article.
It's worthwhile to follow Nancy Pelosi's investing moves
Regardless of the "whys," Paul and Nancy Pelosi's stock investing has been very successful over the long run. This fact makes it worthwhile for investors -- particularly those interested in big tech stocks -- to follow their investing moves.
As a member of Congress, Nancy Pelosi is required to file a disclosure reporting stock, bond, real estate, and other investment transactions made by herself and members of her immediate family within 30 days.
Nancy Pelosi's initial set of stock moves in 2026
Pelosi recently filed her first 2026 financial disclosures, reporting the following transactions on Jan. 23.
The Pelosis use call options for much of their stock purchasing. But you can still shadow their moves without using options, which are too risky for all but very experienced investors. (Stock options are contracts that give the owner the right -- but not any obligation -- to buy (calls) or sell (puts) a stock at a certain price by a certain date.)
| Stock | Transaction Type | Number of Shares | Amount | Transaction Date |
|---|---|---|---|---|
| AllianceBernstein Holding (AB 2.29%) | Purchase | 25,000 | $1 million to $5 million | 1/16/2026 |
| Alphabet-Class A (GOOGL 1.35%) | Purchase -- Exercised 50 call options (5,000 shares)* purchased 1/14/25 at a strike price of $150 and expiration date of 1/16/25. | 5,000 | $500,000 to $1 million | 1/16/26 |
| Amazon.com (AMZN 1.30%) | Purchase -- Exercised 50 call options (5,000 shares) purchased 1/14/25 at a strike price of $150 and expiration date of 1/16/25. | 5,000 | $500,000 to $1 million | 1/16/25 |
| Nvidia (NVDA 1.24%) | Purchase -- Exercised 50 call options (5,000 shares) purchased 1/14/25 at a strike price of $80 and expiration date of 1/16/25. | 5,000 | $250,000 to $500,000 | 1/16/26 |
| Tempus AI (TEM 5.66%) | Purchase -- Exercised 50 call options (5,000 shares) purchased 1/14/25 at a strike price of $20 and expiration date of 1/16/25. | 5,000 | $50,000 to $100,000 | 1/16/26 |
| Versant Media Group (VSNT 0.70%) | Received 776 shares and cash as a result of the Comcast spin-off of its cable networks. | 776 | $15 cash | 1/2/26 |
| Vistra (VST +1.56%) | Purchase -- Exercised 50 call options (5,000 shares) purchased 1/14/25 at a strike price of $50 and expiration date of 1/16/25. | 5,000 | $100,000 to $250,000 | 1/16/26 |
Data source: U.S. House of Representatives Clerk's Office. *One options contract controls 100 shares. Data as of Jan. 30, 2026.
The main theme in these investments remains "betting big on AI"
Buying call options and exercising them are bullish moves. So we can surmise that Paul and Nancy Pelosi are bullish on three big tech stocks: Google parent Alphabet, e-commerce and cloud computing leader Amazon, and artificial intelligence (AI) chip and infrastructure leader Nvidia. All great picks for long-term investors, in my view.
They are also bullish on AllianceBernstein, a Wall Street firm and global investment management company; Tempus AI, an AI-driven precision medicine company; and Vistra, a retail electricity and power generation company based in Texas.
Vistra can be considered a play on AI growth, as AI data centers consume significant amounts of electricity. Moreover, in early January, Vistra and Facebook parent Meta Platforms entered into a 20-year power purchase agreement (PPA) under which Vistra will provide more than 2,600 megawatts of energy from three Vistra nuclear plants in Pennsylvania and Ohio to support Meta's data center operations in the region.
The main theme in the Pelosis' investments remains "betting big on AI."
The AllianceBernstein transaction stands out as quite different than the others. First, the company is in the financial sector, and second, the transaction didn't involve call options. Shares have performed OK over the last 5 years, but they're not a standout. My guess is that this investment might be for diversification reasons.
How did the stocks perform between when the call options were purchased in 2025 and when they were exercised with the stocks purchased in 2026?
Over the one-year-and-two-day period from Jan. 14, 2025, to Jan. 16, 2026, here is approximately how the underlying stocks of the call options performed, in terms of total returns. (I say "approximately" because stocks trade within a range each day, so I'm using the closing price on each day in my calculations.)
- Alphabet, Class A: 74.6%
- Amazon: 9.8%
- Nvidia: 41.4%
- Tempus AI: 121%
- Vistra: (1.8%)
- S&P 500 index return for context: 20.3%
This is a winning portfolio. Had an investor bought these five stocks on Jan. 14, 2025, in the same proportion as the Pelosi calls, that investor's portfolio would have returned about 41.7% over the just over one-year period -- double that of the S&P 500.
