📊 Nancy Pelosi's Stock Portfolio

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Happy Sunday!

We’re now 36,500+ subscribers strong, with over 11,000 joining just this year.

I’ll be taking a short break, so there won’t be any sends the next two weeks.

• The newsletter returns Sunday, September 14th with a ton of new content.

• Super excited for what’s ahead!

In the meantime, I’ll still be posting on Instagram, so follow along if you aren’t already:

And for those that use X primarily, I also post there:

Some key data bites from this week that you should know:

• U.S. has 9 of the 10 most affordable housing markets in the world.

• MarketWatch named 20 S&P 500 stocks with top sales growth and rising margins.

• Financial Times shared the top 16 business books of the year 2025.

• Raya has a 2.5M person waitlist to join the dating app.

• U.S. real estate sales to foreigners is up 33% YoY.

• BlackRock has quietly accumulated 3% of all Bitcoin.

• Trump has bought at least $100M in bonds since taking office.

• Trump administration has officially taken a 10% stake in Intel.

• SoftBank has made a $2B investment in Intel.

• Google will pay $30M to settle lawsuit over children’s YouTube data.

• Google now has a 14% stake in Bitcoin miner TeraWulf.

• Airbus is set to surpass Boeing as jetliner leader for first time in 40 years.

• Soho House will go private in a $2.7B deal.

• Starbucks will give all North American salaried workers a 2% raise.

• Nvidia said more than 2M developers are now using its robotics stack.

• S&P 500 beat estimates and saw profits climb 12% in Q2.

• Walmart missed profit expectations for first time in 3 years.

• Lucid will be undergoing a 1-for-10 reverse stock split.

• Google won a $10B cloud contract for Meta over 6 years.

In today’s newsletter:

• 🏷️ Most Expensive S&P 500 Stocks

• 🐐 Nancy Pelosi’s Stock Portfolio

• 💰 Companies With The Most Cash

• 🔨 Home Depot vs Lowe’s

Let’s jump right in.

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Is AI entering bubble territory?

Even OpenAI CEO Sam Altman thinks so.

• “Are we in a phase where investors are overexcited about AI? Yes. Is AI the most important thing to happen in a very long time? Also yes,” he said.

His comments come as OpenAI explores a $6B stock sale at a $500B valuation, its largest ever.

That price tag has drawn comparisons to Palantir, which trades at a lofty 246x forward earnings.

• Citron Research argued that even if Palantir were valued at $40, in line with OpenAI’s multiple at a $500B valuation, it would still look expensive.

The critique one was one the key catalysts that briefly sent Palantir into correction territory, falling more than 20% from its highs.

The pressure isn’t just on Palantir, though.

• An MIT report found 95% of corporate generative AI pilots are failing to generate revenue.

Still, the upside case remains massive.

• Morgan Stanley estimates AI could add $16T in market value to the S&P 500 and save corporate America nearly $1T annually if fully adopted.

Cybersecurity giant Palo Alto Networks sees a bright future.

On Monday, the company beat expectations with adjusted EPS of $0.95 vs. $0.88 forecast.

• Revenue climbed 16% to $2.54B, ahead of the $2.5B consensus.

Guidance was strong too.

• Next-quarter EPS is expected at $0.89 at the midpoint, topping estimates, and full-year revenue and earnings guidance were both raised.

Palo Alto Networks has also caught the eye of Nancy Pelosi.

• According to Quiver Quantitative, she purchased call options on the stock in early and late 2024, making it one of her core holdings.

Meta’s cash pile is shrinking fast.

After months of pouring billions into AI, Meta is freezing hiring in its AI division, per the WSJ.

The company has already lured more than 50 top researchers and engineers, and is now undergoing its fourth AI restructuring in six months.

Many hires received nine-figure pay packages, raising concerns about overspending.

• Meta also made big acquihire bets, most notably a $14B stake in Scale AI, founded by Alexandr Wang.

All this has taken a toll on liquidity.

• Meta ended Q4 with $78B in cash and equivalents, but that has since fallen 40% to $47B in the most recent quarter.

Despite the decline, Meta still sits among the few companies with huge cash reserves, alongside giants like Google, Microsoft, and Amazon.

Home Depot and Lowe’s are running neck and neck.

• Both stocks are up just under 7% this year, lagging the S&P 500.

But this week’s earnings showed a split picture.

Lowe’s delivered solid results.

• Revenue met expectations at $23.96B, while adjusted EPS of $4.33 beat estimates.

• Comparable sales rose 1.1%.

• The company also announced an $8.8B acquisition of Foundation Building Materials to expand in drywall, insulation, and other interior products.

Looking ahead, Lowe’s raised its revenue outlook, kept comparable sales guidance at 1%, and trimmed EPS guidance slightly.

Home Depot, meanwhile, fell short.

• Adjusted EPS came in at $4.68, and revenue at $45.28B, both missing estimates.

• Still, management reiterated full-year sales growth of 2.8% and a 1% comparable sales increase.

Notable Companies Reporting Earnings Week of August 24th, 2025:

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Buys

• Marjorie Taylor Greene (R)

  • Company: Novo Nordisk ($NVO)

    • Amount Purchased: $15K - $50K

• Thomas Kean Jr (R)

  • Company: Check Point Software Technologies ($CHKP)

    • Amount Purchased: $15K - $50K

Sells

• Markwayne Mullin (R)

  • Company: Unitedhealth Group ($UNH)

    • Amount Sold: $15K - $50K

• Dan Meuser (R)

  • Company: Nvidia ($NVDA)

    • Amount Sold: $250K - $500K

  • Company: Alphabet ($GOOGL)

    • Amount Sold: $50K - $100K

Buys

• Energy Transfer ($ET)

  • Insider: Kelcy Warren (Director)

    • # of Shares Purchased: 2,000,000

    • $ Amount: $34,681,000

    • SEC Forms: [1]

Sells

• DoorDash ($DASH)

  • Insider: Tony Xu (CEO)

    • # of Shares Sold: 291,403

    • $ Amount: $69,408,326

    • SEC Forms: [1]

• Palantir ($PLTR)

  • Insider: Shyam Sankar (CTO)

    • # of Shares Sold: 375,000

    • $ Amount: $56,699,646

    • SEC Forms: [1]

🤝 Review of the Week