The rule of Nancy Pelosi as the “Queen of Stonks” seems to have ended last year. In 2022, the portfolio of the former House speaker decreased by 19.8%, based on a study of Congressional trading released last week by Unusual Whales.
As a result, Pelosi’s holdings underperformed the benchmark stock market index-tracking SPDR’s S&P 500 ETF Trust. This fund lost almost 18.2% the previous year as the S&P 500 itself fell by 19.4% due to increasing inflation, rising interest rates, and the conflict in Ukraine.
High-profile trading meme Twitter accounts like Dr. Parik Patel and Litquidity commonly feature Pelosi’s transactions.
The reports make fun of the 82-year-old and her husband Paul, describing them as risk-takers who occasionally profit from insider knowledge thanks to her contacts in Congress.
But Pelosi’s tech-heavy portfolio failed in 2018 after outperforming the market from 2019 to 2021.
Like the Federal Reserve increased interest rates from near-zero to about 4.5% in 2022, tech companies struggled as the rising borrowing costs ate away at the future earnings that are the foundation of their value.
According to a report by Unusual Whales, Pelosi reported her ownership of shares in Tesla and Roblox in March. Between that point till the conclusion of the year, the two stocks dropped 25.3% and 56.8%, respectively.