Nvidia Corporation (NASDAQ) reached new all-time highs on Monday, continuing its remarkable climb from a $1 trillion market value to over $3 trillion. The meteoric rise has benefited investors across the board, including notable figures like former House Speaker Nancy Pelosi and her husband, venture capitalist Paul Pelosi.
Pelosi’s Nvidia Investment
Nancy Pelosi, as required by law, discloses trades made by herself and her husband. In a filing dated December 23, 2023, she reported a significant investment in Nvidia stock options made in November 2023. On November 22, 2023, the Pelosis purchased 50 call options with a $120 strike price, expiring on December 20, 2024. The purchase was valued between $1 million and $5 million, with reports indicating an approximate price of $1.8 million.
Nvidia’s stock split 10-for-1 in June 2024, increasing the Pelosis’ holdings to 500 call options with a $12 strike price. On Monday, these options traded at $132.05 each, bringing the total value of their investment to $6.6 million—a gain of $4.8 million from their initial purchase.
Additional Nvidia Stock Purchases
In addition to the options, Pelosi also disclosed purchasing 10,000 Nvidia shares twice in 2024: once on June 26 and again on July 26. Here’s how those investments have performed:
- June 26: 10,000 shares at $128.12 each, valued at $1.28 million, now worth $1.44 million
- July 26: 10,000 shares at $116.20 each, valued at $1.16 million, now worth $1.44 million
Combined, these stock purchases have increased in value by over $430,000.
Missed Opportunities
While the Pelosis are now up more than $5 million from their Nvidia trades, they missed out on even greater profits due to an earlier sale in July 2022. Amid scrutiny over Nvidia stock purchases during discussions of the CHIPS Act, which aimed to boost semiconductor companies, Pelosi sold 25,000 Nvidia shares at an average price of $165.05, totaling $4.13 million.
Had the Pelosis held onto those shares, which would have become 250,000 shares after Nvidia’s stock split, the current value of the investment would be nearly $36 million. This means they missed out on potential gains of over $31 million.
Controversy and Calls for Reform
Despite Pelosi’s assertion that she does not share insider information with her husband, the timing of these trades has drawn attention. Calls for banning members of Congress and their spouses from stock trading have intensified, with a bill named the “PELOSI Act” highlighting concerns over potential conflicts of interest.
Pelosi’s congressional salary ranges from $174,000 to $197,000 annually, with her earnings as Speaker of the House reaching $223,500, leading to increased scrutiny of her investment activities.
