You’ve likely heard that most hedge fund managers end up underperforming the S&P 500. It is indeed challenging, especially during a bull market. That’s to be expected, since you can’t “hedge” risk and consistently outperform the market with significant returns. After all, returns are inversely correlated with risk.
One unlikely outlier is former House Speaker Nancy Pelosi, or more precisely, her Husband Paul Pelosi. He is a venture capitalist and businessman who is very active when it comes to stock trading. He has plenty of successes, and rarely fails. Those trades get attributed to Nancy Pelosi due to their marriage. There has been scrutiny due to the possibility of foul play. Paul sold $500,000 in Visa stock just weeks before a Department of Justice antitrust lawsuit against the company in 2024.
Anyhow, if you can’t beat ’em, join ’em.
Below are three stocks Nancy Pelosi has been consistently buying.
Broadcom (AVGO)
Broadcom (NASDAQ:AVGO | AVGO Price Prediction) has been one of the hottest semiconductor stocks in recent years. The rally has only intensified in the past few months, with the stock momentarily crossing $300.
The company has expanded beyond just semiconductors, with a software arm that has grown with the company’s acquisition of VMware (a virtual machine software). The tailwinds are solid, and it’s easy to see why the Pelosis like the stock. AVGO stock is up 106.2% in the past year.
Nancy Pelosi has made noteworthy investments in the company.
On June 24, 2024, Pelosi purchased 20 call options (originally reported as 20 options with a $800 strike price, later adjusted post-split to 200 options at $80 per share) with an expiration date of June 20, 2025.
She exercised these call options on June 20, 2025, buying 2 million shares at the $80 strike price. Pelosi effectively bought the stock at a 71% discount to the market price at the time of exercise and an even steeper discount to the current price near $293.
Nvidia (NVDA)
Nvidia (NASDAQ:NVDA) has been the hottest stock in the market, and most investors have some level of exposure to it by now. Without exposure to NVDA stock, you may be missing out on the juiciest gains the AI rally has to provide.
Nvidia reported record revenue of $130.5 billion in FY 2025. Nvidia became the first company to surpass a $4 trillion market capitalization in 2025, and its Blackwell GPUs are sold out for the year. Hyperscalers are aggressively expanding their CapEx as these investments are starting to pay off (look at Microsoft and Meta’s beats!), and a lot of these investments will find their way into Nvidia’s bottom line.
Pelosi certainly isn’t missing out.
She first bought the stock on June 3, 2021. Pelosi purchased 50 call options on NVDA with a $400 strike price. At the time, the stock price (split-adjusted) was ~$16.90, and this trade later yielded substantial gains as NVDA surged.
Since then, she has been buying consistently, with multiple buys and sells. NVDA stock is one of her top three traded stocks.
In her most recent trade on January 14, 2025, she bought 50 call options on NVDA with an $80 strike price, expiring January 16, 2026. The premium was valued between $250,001 and $500,000. By now, her trade is already in the money, with the strike price plus premium.
Palo Alto Networks (PANW)
Palo Alto Networks (NASDAQ:PANW) is one of the top cybersecurity companies. This field is seeing an increase in demand as companies prepare to face increasing cyberattacks, especially as hackers start using AI to break through existing systems. Bots on the internet are now indistinguishable from humans and can bypass traditional CAPTCHA systems easily.
Accordingly, PANW stock has surged. Over the past five years, this stock is up 288.4%.
Pelosi has made considerable call option purchases in the stock during February 2024. On February 12, 2024, she bought 50 call options with a $200 strike price. This was followed by a purchase of more options on February 21 and a purchase of common stock on December 20, 2024, as she exercised her 140 call options “purchased 2/12/24 & 2/21/24 (14,000 shares) at a strike price of $100 with an expiration date of 12/20/24,” per House.gov.
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