To The Moon

Nancy Pelosi's 2026 Trades: Selling Stock to Buy Leverage, Doubling Down on AI Again

Former House Speaker Nancy Pelosi has disclosed her latest stock trades, which include technical repositioning for tech giants, high-dividend financial stocks and AI infrastructure companies. Notice Pelosi is not running for re-election in 2026 — so this could be her last stock filing as member of Congress.

Big Four tech stocks: selling stock to buy leverage

The report shows the sale of common shares for the Big Four tech stocks: $NVIDIA(NVDA)$   , $Apple(AAPL)$   , $Alphabet(GOOG)$  , and $Amazon.com(AMZN)$  . A casual observer might think, “Pelosi is dumping tech!” However, a detailed analysis of the filing reveals that the Pelosi portfolio is not exiting the tech market. Instead, it is rolling equity profits into long-term options.

Immediately after selling the shares, likely a move to harvest old profits and pay tax bills, the portfolio re-entered these same positions using a financial instrument called LEAPS (Long-Term Equity Anticipation Securities). Specifically, the portfolio bought call options expiring in January 2027.

~Bought 20 call options Apple, with a strike price of $100 and expiration date of Jan. 15, 2027.

~Bought 20 call options Amazon, with a strike price of $120 and expiration date of Jan. 15, 2027.

~Bought 20 call options Alphabet, with a strike price of $150 and expiration date of Jan. 15, 2027.

~Bought 20 call options Nvidia, with a strike price of $100 and expiration date of Jan. 15, 2027.

What's the takeaway from this move?

1. Capital Efficient: This strategy acts as a leveraged roll. Tech giants have high share prices, by switching to Deep-In-The-Money options, the investor can control the same number of shares for a fraction of the cost.

2. Built-In Leverage with Downside Protection: The freed-up cash can be deployed in other low-risk investments (such as high-dividend stocks), while the maximum loss on the options is limited to the premium paid.

3. Long-term bullish: Despite potential short-term fluctuations, by purchasing contracts that run through 2027, the portfolio is effectively betting that the AI super-cycle is far from over.

Beyond megacap tech, Pelosi is also betting on AI Energy and AI Healthcare

Beyond four mega-caps, the filing highlighted targeted bets on AI-adjacent industries. Pelosi exercised options in $Vistra Energy (VST.US)$, an energy company increasingly tied to AI data center demand. Vistra supplies nuclear and natural gas power to energy-hungry AI facilities and has struck major deals, including agreements with $Meta Platforms (META.US)$ covering more than 2,600 megawatts. Its recent $4 billion acquisition of gas plants further positions it to benefit from AI-driven electricity demand.

She also exercised 50 call options in $Tempus AI (TEM.US)$ -- valued between $50,001 and $100,000 -- from options purchased in January 2025 at a $20 strike. That initial purchase rocketed Tempus to the forefront of investor consciousness and caused its stock to soar. Tempus applies AI to precision medicine, using large datasets to improve diagnostics and treatment decisions in fields like oncology, cardiology, and radiology.

Finally, Pelosi is establishing a strong defensive position in financials

Beyond tech stocks, the most surprising twist in the 2026 portfolio is the purchase of 25,000 shares of $AllianceBernstein Holding (AB.US)$, a global asset management company.

AllianceBernstein is a favorite among income investors because it pays a massive dividend, historically ranging from 8% to 9%. By parking millions of dollars in this specific stock, the portfolio creates a yield shield.

Against a backdrop of markets trading at historic highs with potentially increasing volatility, allocating to financial stocks with stable dividends and asset management capabilities demonstrates that the portfolio is shifting toward a more balanced and defensive posture.

How has Pelosi performed?

In 2025, Pelosi's portfolio showed YTD gains of 20.1%, surpassing the S&P 500's returns. Her stock holdings have outperformed the broader market consistently over recent years. Pelosi has opposed efforts to ban congressional stock trading, arguing that members of Congress should be able to participate in the 'free market economy.

Notably, the Pelosi' investment returns over the past decade have been equally stunning, with estimated cumulative returns of 838%—nearly triple the S&P 500's 256% over the same period.

However, the 85-year-old former House Speaker announced in late 2025 that she will not seek reelection after completing her current term in 2027, bringing her four-decade congressional career to an end, which means this could be one of the last disclosures from Pelosi.

Summary

Taken together, these trades reflect Pelosi's continued confidence in AI's long-term growth. By trimming mature tech positions and redeploying capital into AI leaders and enablers such as Nvidia, Amazon, Alphabet, Vistra, and Tempus, the portfolio tilts toward areas likely to see sustained demand from AI adoption.

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