With Nancy Pelosi retiring, stock traders who copy her investments need to find a new hero

Capitol Trades data was used in a recent article examining how one lawmaker’s financial disclosures reshaped retail investing trends across America and why her retirement could mark the end of a unique trading era.

For years, Nancy Pelosi’s name has not only symbolized political power but also financial influence. A quiet industry of retail investors, day traders, and data-driven analysts has built itself around tracking her stock disclosures, mirroring her portfolio moves, and often reaping handsome gains. But with Pelosi’s announcement that she will retire in 2027 after nearly four decades in Congress, this unique market phenomenon is approaching its end.

Once Pelosi leaves office, she will no longer be required to disclose her or her family’s investments, cutting off one of the most closely watched data streams in political finance. The California Democrat, among the wealthiest members of Congress, has disclosed trades worth roughly $59 million over the last three years, according to data from Capitol Trades, which monitors investment activity by U.S. lawmakers from both parties.

While there is no ban on lawmakers owning or trading stocks, they must disclose transactions including those by spouses or children within 45 days. In Pelosi’s case, most trades are executed by her husband, Paul Pelosi, a longtime investor. A spokesperson previously clarified that the former Speaker “is not involved” in his investment decisions. Yet that has done little to cool the fascination around what many have dubbed “Pelosi trades.”

A social media account known as the “Nancy Pelosi Stock Tracker”, boasting 1.2 million followers, reflects this obsession. Each disclosure triggers swift responses from a legion of traders, often moving share prices within hours of publication.

Among the professionals studying her portfolio is Dan Weiskopf, Senior Portfolio Manager at Tidal Financial Group. His firm oversees two exchange-traded funds: the “NANC” fund, which mirrors trades from Democratic lawmakers, and the “GOP” fund, tracking their Republican counterparts. Launched in 2023, the funds hold around $263 million and $60 million in assets, respectively. Both have outperformed the S&P 500, a feat Weiskopf attributes to the conviction behind Pelosi’s long-term options plays.

“When Nancy Pelosi makes a trade, the community immediately hops on it,” Weiskopf noted. “She has such conviction in the way she trades and moves markets.”

Pelosi has consistently denied any impropriety, insisting in 2021 that lawmakers should be able to participate in “a free market economy.” Still, her financial record combined with the broader perception of political privilege has fueled calls for reform. Bipartisan proposals to ban congressional stock trading have been circulating for years, gaining momentum from both progressives such as Rep. Alexandria Ocasio-Cortez and Sen. Elizabeth Warren, and conservatives like Rep. Chip Roy and Sen. Josh Hawley.

Even as she reaffirmed her support for a trading ban this year, Senate Republicans provocatively renamed one bill the “PELOSI Act.” The irony did not go unnoticed particularly as her family disclosed a recent transfer of at least $100,000 in Apple stock, donated to a Washington, D.C., Catholic university in October.

Pelosi’s retirement represents more than the close of a political chapter; it marks the end of a curious intersection between power and profit. Her market influence, undeniable in scope and scale, will likely outlast her tenure. But as Weiskopf observed, “Her retirement is notable yet plenty of other members of Congress will continue the trend.”

The markets may lose their most-watched lawmaker, but the story of money, access, and influence on Capitol Hill is far from over.