When it comes to scrutinized stock portfolios, few get more attention than former House Speaker Nancy Pelosi's. The California congresswoman has become something of a legend in retail investing circles, not for her legislative prowess, but for her husband Paul Pelosi's uncanny knack for timing technology stock purchases that consistently outperform the market. Whether you find that impressive or questionable probably depends on your political leanings, but the numbers don't lie.

Now here's an interesting angle: Tom Lee, the co-founder and head of research at Fundstrat, is one of Wall Street's most recognizable analysts. When you compare Pelosi's disclosed holdings with the stocks in Lee's recently launched ETF, something fascinating emerges. They agree on 11 stocks.

The ETF That Thinks Like Congress

In November 2024, Fundstrat launched the Fundstrat Granny Shots US Large Cap ETF (GRNY). The fund holds 39 carefully selected stocks based on short and long-term trends that Fundstrat identifies as winners. The name might sound quirky, but the strategy is serious: find stocks that check multiple boxes across key investment themes.

And it turns out that 11 of those stocks also sit in Nancy Pelosi's portfolio. Let's walk through them.

The Big Tech Bets

NVIDIA Corp (NVDA) ranks as the 32nd-largest holding in the GRNY ETF at 2.37% of assets. Pelosi's history with Nvidia reads like a thriller. In January, she disclosed buying 50 call options with an $80 strike price and a January 2026 expiration. Just a month earlier in December 2024, she exercised 500 call options for 50,000 shares before selling multiple times throughout 2024. The most infamous Nvidia moment? Back in July 2022, after facing intense public scrutiny over timing related to the CHIPS Act, Pelosi and her husband sold 25,000 Nvidia shares. The optics weren't great.

Microsoft Corp (MSFT) shows up as the 27th-largest holding in the GRNY ETF at 2.44% of assets. Microsoft is one of Pelosi's largest positions overall. While her most recent disclosed transaction was selling 5,000 shares in 2024, previous filings show the couple exercised options for tens of thousands of shares back in 2021. That's a meaningful stake built over time.

Alphabet Inc (GOOGL) comes in as the fourth-largest holding in Lee's ETF at 2.77% of assets. Pelosi disclosed buying 50 call options on Alphabet in January with a $150 strike price and a January 2026 expiration date. The pattern here is pretty consistent: deep-in-the-money options with roughly one year until expiration.

Apple Inc (AAPL) is the 21st-largest holding in the GRNY ETF at 2.55% of assets. Pelosi has disclosed numerous Apple transactions over the years. While her recent moves involved sales and donations of Apple stock to schools, the congresswoman still maintains a position in the tech giant. It's hard to be a large-cap tech investor and not own Apple.

The E-Commerce and Streaming Giants

Amazon.com Inc (AMZN) is the 34th-largest holding in the GRNY ETF at 2.37% of assets. Pelosi disclosed buying 50 call options in January 2025. She's traded Amazon stock and options repeatedly over the years, making it a core holding in her technology-focused strategy.

Netflix Inc (NFLX) rounds out the streaming side as the 38th-largest holding in the GRNY ETF at 2.08% of assets. Pelosi's most recent Netflix disclosures have been sales, but a 2025 filing showed she still owned shares as of 2024. Sometimes trimming a position doesn't mean abandoning it entirely.

The Semiconductor Standout

Broadcom Inc (AVGO) is actually the second-largest holding in the GRNY ETF at 2.89% of assets. That's a serious weighting. Pelosi disclosed exercising 200 call options for 20,000 Broadcom shares valued between $1 million and $5 million in June 2025. When you're exercising options for positions that large, you're making a real statement about conviction.

The Cybersecurity Plays

CrowdStrike Holdings Inc (CRWD) is the 31st-largest holding in the GRNY ETF at 2.38% of assets. Pelosi disclosed buying 5,000 CRWD shares back in September 2020. That's a long-term hold through some turbulent times for the cybersecurity company.

Palo Alto Networks (PANW) is the 35th-largest holding in the GRNY ETF at 2.26% of assets. Pelosi disclosed exercising 140 call options for 14,000 PANW shares in 2024. Both Lee and Pelosi see cybersecurity as a must-own theme, which makes sense given the escalating threat landscape.

The Surprises

American Express Co (AXP) is the 18th-largest holding in the GRNY ETF at 2.59% of assets. This financial services company might seem out of place in a tech-heavy portfolio, but Pelosi disclosed exercising 50 call options for 5,000 shares back in 2022. American Express benefits from affluent spending patterns and millennial adoption of premium credit cards.

Vistra Corp (VST) is perhaps the most unexpected name on this list. The power company ranks as the 26th-largest holding in the GRNY ETF at 2.47% of assets. Pelosi disclosed buying 50 call options in January 2025. Energy infrastructure isn't typically associated with Pelosi's tech-focused strategy, but the AI boom requires massive amounts of electricity. Data centers are power-hungry beasts, and Vistra is positioned to benefit.

Two Very Different Approaches

Here's the thing: Pelosi and Lee arrive at similar conclusions through completely different paths.

Pelosi's stock transactions are technically made by her husband Paul, a venture capitalist who likely handles the investment decisions. His approach is consistent: buy in-the-money call options with expiration dates roughly one year out, then exercise them into common stock. The transactions are large, often hundreds of thousands of dollars and sometimes millions. The focus is overwhelmingly on large-cap technology names.

Lee's Granny Shots ETF, on the other hand, uses a disciplined, rules-based process. Stocks must align with at least two key investment themes to make the cut. Current themes include PMI recovery, energy infrastructure, cybersecurity, labor suppliers, millennial-focused businesses, and easing financial conditions. If a stock hits two themes, it's in. This systematic approach removes emotion from the equation.

The overlap between these two strategies tells you something important: whether you're a venture capitalist with inside knowledge of Silicon Valley or a systematic analyst identifying macroeconomic trends, you end up owning similar names. The Magnificent Seven stocks, cybersecurity leaders, and infrastructure plays aren't just retail investor favorites. They're the consensus picks among smart money, regardless of methodology.

What might surprise retail investors is that following either strategy requires conviction and size. Both Pelosi and Lee aren't dabbling with 1% positions. They're making meaningful allocations to these names, betting that large-cap tech and cybersecurity will continue to dominate. Whether that consensus proves right is the multi-trillion dollar question.