In the latest round of financial disclosures, Nancy Pelosi, the former Speaker of the House, reported multiple stock and options transactions conducted chiefly by her husband, Paul Pelosi, a venture capitalist. These transactions, covering activity in both December and January, reflect a blend of new equity purchases, the exercising of call options, and several sizeable stock sales.
On January 16, the Pelosi portfolio saw an infusion of new equity with the purchase of 25,000 shares of AllianceBernstein Holding (NYSE:AB), representing an investment valued between $1 million and $5 million. This marks Pelosi's first substantial acquisition of AllianceBernstein shares in several years, suggesting renewed interest in the asset management firm.
That same day involved multiple exercises of call options expiring at the beginning of 2025. Specifically, 50 call options were exercised for Amazon.com Inc (NASDAQ:AMZN), each with a strike price of $150, resulting in the addition of 5,000 Amazon shares to the portfolio. The aggregate transaction was valued between $500,000 and $1 million.
Similar call option exercises occurred with Alphabet Inc (NASDAQ:GOOGL), where 50 options at a $150 strike price were converted into 5,000 shares, with the transaction value also ranging from $500,000 to $1 million. Additionally, 50 call options on NVIDIA Corp (NASDAQ:NVDA) at an $80 strike price were exercised, acquiring 5,000 shares for between $250,000 and $500,000.
Beyond these tech giants, the Pelosi portfolio expanded holdings in other companies through call option exercises: Vistra Corp (NYSE:VST) with 50 contracts at a $50 strike price (valued between $100,000 and $250,000), and Tempus AI (NASDAQ:TEM) with 50 contracts at a $20 strike price (valued between $50,000 and $100,000). Each of these transactions added 5,000 shares of the respective company to the investment holdings.
Earlier, on January 2, the Pelosis received 776 shares and cash from Versant Media Group (NASDAQ:VSNT) as part of a spin-off from Comcast Corporation (NASDAQ:CMCSA), which remains a holding in their portfolio.
At the end of December, the portfolio showed notable philanthropic activity alongside investment shifts. On December 30, a large donation saw the contribution of 28,200 Apple Inc (NASDAQ:AAPL) shares to a donor-advised fund, with the total value estimated between $5 million and $25 million. Furthermore, the same day featured the acquisition of call options expiring in January 2027 across several major companies: 20 call options each on Apple at a $100 strike price, Amazon at $120, Alphabet at $150, and NVIDIA at $100.
Not all activity represented acquisitions or philanthropy; the portfolio also recorded significant disposals. On December 30, 10,000 shares of Walt Disney Co. (NYSE:DIS) were sold, with an estimated transaction value between $1 million and $5 million. In parallel, 7,704 Alphabet shares were donated to a charitable fund, valued similarly. The portfolio reduction continued with the sale of 5,000 PayPal Holdings Inc (NASDAQ:PYPL) shares worth between $250,000 and $500,000.
Two days earlier, on December 24, Pelosi's disclosures indicated a considerable reduction in Apple stock, selling 45,000 shares valued between $5 million and $25 million. That day also saw sales of roughly $1 million to $5 million in Amazon shares, as well as the sale of 20,000 NVIDIA shares worth between $1 million and $5 million.
These transactions reflect Pelosi’s strategic portfolio adjustments over recent months. Earlier in June, Pelosi had disclosed exercising options on Broadcom Inc (NASDAQ:AVGO), and transactions reported in January 2025 show prior purchases of options on Amazon, Alphabet, NVIDIA, Tempus AI, and Vistra, further illustrating consistent engagement with these assets.
Notably, the recent stock sales of Apple and NVIDIA during December 2025 are reminiscent of previous moves potentially motivated by end-of-year tax considerations, although no specific rationale for the timing is detailed in the disclosures.
Within the context of Congressional trading, an annual report from UnusualWhales ranked Nancy Pelosi as the 28th most active trader, highlighting a 20.1% gain in her portfolio for 2025, outpacing the S&P 500's 16.6% return over the same period. With Pelosi not seeking re-election in 2026, the forthcoming year will mark the end of her publicly disclosed investment transactions, positioning these recent disclosures as potentially among the last public insights into her portfolio management.
Analyzing Pelosi's portfolio reveals a balanced approach encompassing growth-oriented technology firms alongside financial and energy companies. Re-entry into AllianceBernstein stock breaks from a hiatus of ownership and signals confidence in that sector while continued targeted exercises of call options on major tech players demonstrate methodical portfolio growth strategies. Concurrently, marked dispositions of sizable shareholdings and meaningful charitable contributions illustrate active capital reallocation within the portfolio.
As Pelosi transitions away from a public political role, her investment activities offer a window into the asset diversification and management techniques employed. These disclosures contribute valuable data points in understanding how prominent public figures manage significant equity positions amidst evolving market conditions.