Take one of Wall Street's most bullish tech analysts and mix in the investment portfolio of Congress's most closely tracked member, and you get something interesting: a whole lot of conviction around artificial intelligence.

Dan Ives, the Wedbush analyst known for his enthusiastic takes on tech, launched an ETF earlier this year. Meanwhile, Congresswoman Nancy Pelosi (D-Calif.)—or more precisely, her venture capitalist husband Paul Pelosi—has been building positions in many of the same names. The overlap? Eight AI stocks that both parties clearly believe have serious upside.

The Eight Stocks They Both Own

The Dan Ives Wedbush AI Revolution ETF (IVES) holds 30 stocks total, and eight of them show up in the Pelosi portfolio. Here's the rundown:

Broadcom Inc (AVGO): This one's the fourth largest holding in the Ives ETF at 5.14% of assets. In June 2025, Pelosi disclosed exercising 200 call options with an $80 strike price, converting them into 20,000 shares of Broadcom. That's a meaningful position.

Apple Inc (AAPL): The tech giant sits at number six in the Ives ETF, representing 5.02% of assets. Apple is practically a Pelosi portfolio staple at this point—the family has purchased shares repeatedly over the years and even donated Apple stock to charitable organizations, including their alma maters.

NVIDIA Corporation (NVDA): The semiconductor powerhouse ranks seventh in the Ives ETF at 4.40% of assets. Pelosi's history with Nvidia is extensive and well-documented. A January 2025 filing showed the purchase of 50 call options with an $80 strike price expiring January 16, 2026. Before that, in December 2024, Pelosi exercised 500 call options for 50,000 shares while selling 10,000 of them. Throughout 2024, she disclosed buying 10,000 Nvidia shares on two separate occasions. The most memorable transaction came in 2022, when the Pelosis sold 25,000 Nvidia shares after public criticism over the timing relative to Congress passing the CHIPS Act.

Amazon.com Inc (AMZN): The e-commerce and cloud giant holds the ninth spot in the Ives ETF at 4.09% of assets. This January, Pelosi disclosed purchasing 50 call options with a $150 strike price and a January 16, 2026 expiration date. Previous disclosures show options activity from years earlier as well.

Microsoft Corporation (MSFT): Microsoft comes in at number 10 in the Ives ETF, accounting for 3.96% of assets. The most recent Pelosi disclosure for Microsoft was selling 5,000 shares in 2024—shares that came from exercising 50 call options back in 2022. She also exercised 250 call options for 25,000 Microsoft shares in 2021, and those shares remain in the portfolio.

CrowdStrike Holdings (CRWD): CrowdStrike represents a smaller slice at 3.07% of Ives ETF assets, falling outside the top ten holdings. Pelosi bought 5,000 shares of the cybersecurity company back in September 2020.

Salesforce Inc (CRM): Salesforce also sits outside the top ten holdings at 3.03% of ETF assets, though it remains one of Ives's preferred AI picks. Pelosi sold 130 call options of Salesforce in 2022 that had been purchased in 2021. Before that, she exercised 100 call options in 2020, acquiring 10,000 shares.

Palo Alto Networks (PANW): Rounding out the list, Palo Alto Networks holds 2.74% of the Ives ETF assets. Pelosi exercised 140 call options for Palo Alto Networks in December 2024, converting them into 14,000 shares valued between $1 million and $5 million at the time.

The Fourth Industrial Revolution Thesis

So what's the common thread here? Ives has been vocal about what he calls the "fourth industrial revolution"—a transformation driven by artificial intelligence that he believes will create multi-billion or even multi-trillion dollar opportunities. He's assigned massive upside potential to several companies, including some outside the traditional tech sphere like Tesla.

Earlier this year, Ives pointed to the Trump administration's AI Action Plan as a catalyst for accelerating AI growth. "We have barely scratched the surface of this 4th Industrial Revolution now playing out around the world led by the Big Tech stalwarts," Ives said.

The Wedbush AI Revolution ETF was designed to give investors direct access to Ives's highest-conviction AI picks. As one of the most recognized analysts covering technology, his stock selections carry weight with retail and institutional investors alike.

For the Pelosis, the pattern is clear: Paul Pelosi tends to buy large-cap technology stocks and options, many of which have significant exposure to the AI ecosystem. It's worth noting that four of the eight shared holdings—Apple, Nvidia, Amazon, and Microsoft—are members of the Magnificent Seven, the group of mega-cap tech stocks that have dominated market returns in recent years.

What Happens Next

Here's an interesting wrinkle: Pelosi recently announced she won't run for re-election to Congress in 2026, ending her decades-long tenure in the House of Representatives. This means that starting in January 2027, she'll no longer be required to disclose her husband's trading activity. The Pelosi portfolio has become something of a phenomenon in retail investing circles, with traders watching every disclosure for clues. That window is closing.

Whether you see these overlapping positions as validation of the AI thesis or just two different investors chasing the same obvious mega-cap winners, the concentration is notable. When a Wall Street analyst building an AI-focused ETF and a long-tenured member of Congress with a venture capitalist spouse are buying the same stocks, it suggests a shared belief: that artificial intelligence isn't just hype, but a genuine transformation of how business gets done. And both Ives and Pelosi are positioning themselves accordingly.