Paul Pelosi, husband of Speaker Nancy Pelosi, bought more than $1 million of shares of investment firm AllianceBernstein in February.
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Speaker Nancy Pelosi’s husband Paul just disclosed the purchase of more than $1 million of shares of AllianceBernstein Holding, a global investment firm.
Paul Pelosi bought 15,000 AllianceBernstein (ticker: AB) shares on Feb. 18, and then purchased 25,000 more shares on Feb. 23, according to a form Speaker Pelosi filed on March 9. Each transaction was valued at between $500,000 and $1 million. Specific figures aren’t required for disclosure, only ranges.
Paul Pelosi and Speaker Pelosi’s office didn’t respond to requests for comment on the stock purchases.
Paul Pelosi, a businessman and private investor, usually wouldn’t be required to publicly report trades. However, public officials, their spouses, and dependent children must report financial transactions valued at more than $1,000, typically within 30 days.
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Paul Pelosi had purchased 20,000 AllianceBernstein shares in December. That was apparently a new investment, as he hadn’t owned any of the stock at the end of 2019, had no other transactions in that stock in 2020.
AllianceBernstein stock gained 11.6% last year, compared with a 16.3% rise in the S&P 500 index, a broad measure of the market. So far in 2021, however, AllianceBernstein stock has surged 14.3% while the index has risen 5.0%.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.
Write to Ed Lin at [email protected] and follow @BarronsEdLin.
