The STOCK Act Ledger

Paul Pelosi, spouse of then-Speaker Nancy Pelosi, purchased $1,000,001–$5,000,000 of NVIDIA on June 17, 2022 — weeks before Congress passed the CHIPS and Science Act, a $52.7B semiconductor-manufacturing subsidy that NVIDIA, a leading chip designer, stood to benefit from, and which Pelosi championed. The position was sold July 26, 2022 (25,000 shares at ~$165.05, a reported loss) the day before the Senate passed the Act, and the report was filed unusually quickly. Pelosi's office said she owns no stock and does not direct her husband's trades.

The New York Times' 2022 investigation reported that Fallon — a member of House Armed Services — sold Microsoft shares roughly two weeks before the Pentagon cancelled the $10B JEDI cloud contract that had been awarded to Microsoft (cancelled July 6, 2021). His committee has jurisdiction over the procurement at issue. The trade was reported as a committee-jurisdiction overlap; no charges were brought.

On Feb 13, 2020, Burr sold $628,000–$1.72M of stock across 33 transactions — a week after a private Senate Intelligence briefing (Feb 4) and a day after a HELP Committee briefing (Feb 12) on the coronavirus, and days before the market crash. The sales skewed toward hospitality stocks the pandemic hit hardest. The DOJ opened a STOCK Act inquiry and closed it without charges in Jan 2021; the SEC also investigated. Burr stepped aside as Intelligence chair during the probe and denied wrongdoing.

Beginning Jan 24, 2020 — the day of a closed Senate coronavirus briefing she attended — Loeffler and her husband (Jeffrey Sprecher, chair of the NYSE's parent ICE) made 27 stock sales worth $1.275M–$3.1M and bought into Citrix, a teleworking firm that rose during lockdowns. The SEC flagged the broader pattern; the DOJ closed its inquiry in May 2020 and the Senate Ethics Committee found no evidence of a violation. Loeffler said her trades are managed by outside advisors without her input.