Nancy Pelosi Stock Trades, Options & ETHICS Act
Major Disclosed Trades
| Ticker | Asset | Trade date | Disclosed | Type | Strike | Notional range | Est. gain | Status |
|---|---|---|---|---|---|---|---|---|
| NVDA | NVIDIA Corporation | 2023-11-22 | 2023-12-22 | Call Options (LEAPS) | $120 (post-split adj.) | $2,000,000 - $5,000,000 | +284% | Exercised / Realized Mega Gains |
| AVGO | Broadcom Inc. | 2024-06-24 | 2024-07-02 | Call Options (20 contracts) | $800 (pre/post-split) | $1,000,000 - $5,000,000 | +72% | Active Position |
| MSFT | Microsoft Corporation | 2024-01-29 | 2024-02-15 | Call Options & Common Stock | $375 | $1,000,000 - $5,000,000 | +38% | Active Position |
| AAPL | Apple Inc. | 2024-07-26 | 2024-08-12 | Common Stock Sale | N/A | $500,000 - $1,000,000 | +180% (Long-Term Capital Gain) | Trimmed Position |
| GOOGL | Alphabet Inc. Class A | 2023-12-18 | 2024-01-11 | Call Options Exercise (Common Stock) | $140 | $1,000,000 - $2,500,000 | +42% | Active Position |
Nancy Pelosi Stock Trades, Options & the ETHICS Act
A disclosure-based review of the Pelosi household portfolio: major option trades, filing delays under the STOCK Act, performance against the S&P 500, and how the proposed ETHICS Act would change congressional trading.
Portfolio Snapshot From Public Disclosures
Public financial disclosures put the household net worth in the $140M - $260M range, with 82% in Mega-Cap Tech & Deep OTM/ITM LEAPS. Disclosed trades reported a calendar 2024 return of +68.4% against +24.2% for the S&P 500, and trailing three-year outperformance of +44.2%. The average filing delay was 28.4 days (under 45-day legal cap).
Over five years the tracked portfolio shows an annualized return of 34.6% versus 14.8% for the index, a Sharpe ratio of 1.92 versus 0.98, an options win rate of 84.2% and an average holding period of 14.2 months. The dominant pattern: Deep In-The-Money (ITM) LEAPS Calls on dominant AI/Semiconductor monopolies ahead of federal legislative subsidies (CHIPS Act, AI Infrastructure mandates).
STOCK Act 2012 vs the Proposed ETHICS Act
The proposed ETHICS Act would move congressional trading from after-the-fact disclosure to outright restrictions. The table compares each pillar with the current STOCK Act rules and the proposed enforcement.
| Pillar | STOCK Act 2012 | Proposed ETHICS Act | Enforcement |
|---|---|---|---|
| Mandatory Divestment / Blind Trusts | Disclose within 45 days; trading individual stocks allowed | Total ban on individual stock ownership for sitting members of Congress & spouses; 180-day divestment window into qualified blind trusts or broad index funds | Stock Act: $200 fine (frequently waived). ETHICS Act: Fine equal to monthly congressional salary or 10% of transaction value |
| Derivative & Options Ban | Options trading allowed with Form 4 disclosure | Absolute ban on call/put options, futures, and leveraged synthetic equity contracts for lawmakers | Civil disgorgement of all profits + mandatory public censure |
| Immediate Real-Time Public Disclosure | Up to 45 days after trade execution | Electronic SEC/House Ethics API disclosure within 48 hours with cryptographic tamper-proof audit trail | Immediate referral to House Ethics Committee and DOJ Public Integrity Section |