AHNIM STUDIO | Guru statistics | Reviewed October 29, 2026 (KST)
What did Nancy Pelosi’s and Josh Gottheimer’s House Periodic Transaction Reports filed in Q3 2026 actually contain? The four official PTRs held 34 transaction rows, but row counts and reported amount ranges told different stories. Pelosi’s seven spouse-owned rows split into three listed-share purchases, three option purchases and one AB-coded LLC investment. Gottheimer’s 27 jointly held rows contained 20 listed-share rows, three mandatory-convertible preferred depositary-share rows and four option rows. Those four option rows were only 14.8% of his sample, yet they accounted for 98.5% of the summed lower range endpoints and 89.7% of the summed upper endpoints. These are disclosure-band statistics, not exact spending, option premium, market exposure or current holdings.
Three findings from the Q3 filing-date cohort
- Pelosi’s seven rows were all purchases and all marked SP, or spouse-owned. Three rows reported listed shares, three reported call options and one reported an LLC investment coded AB on the form.
- Gottheimer’s 27 rows were nearly balanced by direction but not by reported range size. The sample contained 13 purchase rows and 14 sale rows, all marked JT, or jointly held. We do not net the two sides because every amount remains an interval.
- Options were a small share of Gottheimer’s row count but most of his range endpoints. Four Microsoft option rows supplied $1,500,004–$3,000,000 of the $1,523,027–$3,345,000 sum of all reported intervals. That does not reveal option premium or underlying notional exposure.
The Guru research and statistics hub keeps congressional disclosures separate from the 17-manager Form 13F panel. The underlying records are documented in our reports on Nancy Pelosi’s Q3 filing cohort and Josh Gottheimer’s Q3 filing cohort. Our previous statistical study examined the same four filings through a different lens: trade-to-filing lag.
The main comparison: 34 rows across four official PTRs
We define the primary cohort by the official House filing date. It includes PTRs filed from July 1 through September 30, 2026. Each disclosed transaction line is one observation. A single economic decision may generate more than one line, and a filing can contain transactions dated before the filing quarter. The table therefore describes disclosure composition, not unique trading decisions.
| Filer | PTRs | Rows | Listed shares | Preferred depositary shares | Options | Other | Purchases / sales | Owner |
|---|---|---|---|---|---|---|---|---|
| Nancy Pelosi | 1 | 7 | 3 | 0 | 3 | 1 AB-coded LLC row | 7 / 0 | SP: spouse |
| Josh Gottheimer | 3 | 27 | 20 | 3 | 4 | 0 | 13 / 14 | JT: jointly held |
Pelosi’s rows split evenly between shares and options
Pelosi’s August 21 filing contains six rows tied to Bloom Energy and Intel plus one REOF XXV, LLC row. Three rows report share purchases: 10,000 Bloom Energy shares, 5,000 additional Bloom Energy shares and 10,000 Intel shares. Three separate rows report call-option purchases: two Bloom Energy lines and one Intel line. The seventh row reports an additional investment in an LLC that the filing says is acquiring and restoring a luxury hotel property in San Francisco.
The form marks every row SP, meaning spouse-owned. We therefore describe the disclosure as Pelosi’s filing but do not present the transactions as trades directly executed by Nancy Pelosi. We also preserve the final row’s AB code and the LLC description. The code alone is not enough to turn that row into a listed security, and the description is not enough to silently overwrite the filed code.
Gottheimer’s row count was mostly listed shares, but the ranges were mostly options
Twenty of Gottheimer’s 27 rows describe common or ordinary shares, ADRs or similar listed equity. Three additional ST-coded rows explicitly describe Alphabet Series A or Series B mandatory-convertible preferred depositary shares. We separate those three because the asset descriptions are economically different from ordinary equity even though the electronic form displays the same ST code.
The remaining four rows are Microsoft call options in the September 14 filing: two purchases and two sales. Each option row carries a much larger reported amount band than the ordinary-share rows. The 20 listed-share rows sum to $20,020–$300,000 at the interval endpoints, while the four option rows sum to $1,500,004–$3,000,000. The three preferred depositary-share rows add $3,003–$45,000.
| Filer / instrument bucket | Rows | Purchase rows | Sale rows | Sum of reported lower endpoints | Sum of reported upper endpoints |
|---|---|---|---|---|---|
| Pelosi — listed shares | 3 | 3 | 0 | $2,000,003 | $7,000,000 |
| Pelosi — options | 3 | 3 | 0 | $1,750,003 | $6,500,000 |
| Pelosi — AB-coded LLC investment | 1 | 1 | 0 | $500,001 | $1,000,000 |
| Gottheimer — listed shares | 20 | 8 | 12 | $20,020 | $300,000 |
| Gottheimer — preferred depositary shares | 3 | 3 | 0 | $3,003 | $45,000 |
| Gottheimer — options | 4 | 2 | 2 | $1,500,004 | $3,000,000 |
Why the option share can be calculated but not overinterpreted
Within Gottheimer’s sample, the option rows supplied 98.49% of the total lower endpoints and 89.69% of the total upper endpoints. Those percentages are reproducible because they divide each bucket’s endpoint sum by the filer’s corresponding endpoint sum. They still describe the disclosure bands, not the cash exchanged.
PTR forms report value ranges, and an option line does not state an exact premium paid or received. The filing identifies Microsoft call options, strike prices and expiration dates, but it does not provide a contract count in these four rows. We therefore do not convert the ranges into underlying share exposure, compare them with the stock’s market value or treat the two purchase and two sale lines as a verified options strategy.
Purchase and sale rows cannot be netted into a precise flow
Gottheimer’s 13 purchase rows sum to $761,013–$1,665,000, while his 14 sale rows sum to $762,014–$1,680,000. The two intervals are close, but their overlap does not establish a near-zero net investment. The exact amount within each band is unknown, the option rows do not reveal premium or notional exposure, and the filing does not provide a complete portfolio baseline.
Pelosi’s seven rows are all purchases with a combined reported interval of $4,250,007–$14,500,000. That total is also endpoint arithmetic. It is not an exact outlay, and it does not show what was held before or after the disclosed transactions.
Method, source cutoff and reproducibility
The cohort contains Pelosi filing 20035143 and Gottheimer filings 20034938, 20035186 and 20035455. We transcribed the owner, asset description, asset code, transaction direction, transaction date and amount range from the official House PDFs, then recalculated every count and endpoint sum with code. We visually rechecked every transaction page against the normalized rows on October 29, 2026.
We first preserve the code and description exactly as filed. We then add an analytical bucket. OP-coded rows are options. ST-coded rows are classified from their descriptions: ordinary/common shares and ADRs enter “listed shares,” while the three Alphabet mandatory-convertible preferred depositary-share rows remain separate. Pelosi’s AB-coded row remains “AB-coded LLC investment” because the form itself describes an LLC property investment.
The primary period is a filing-date cohort. Gottheimer’s July filing includes June-dated transactions because the official filing date is in Q3. October filings are outside this cohort. That definition matches our prior filing-lag study and keeps the two articles comparable without pretending that a filing quarter is the same as a transaction quarter.
The preserved House index package has an October 21, 2026 cutoff. For this article, we re-opened the four core official PDFs and the Clerk’s current member pages. We do not claim that the preserved index is a complete October 29 snapshot of every later filing. A new or amended PTR would require a dated refresh rather than a silent rewrite.
What this two-person comparison can and cannot answer
The comparison shows why “number of trades” and “reported transaction ranges” should not be treated as interchangeable. It also shows why asset codes need the accompanying descriptions: the same ST code can include ordinary shares and mandatory-convertible preferred depositary shares.
It does not represent Congress as a whole. It does not establish either member’s investment thesis, direct execution, exact cash flow, current position, profit or performance. The two House filers remain separate from institutional 13F statistics. This article is disclosure research for informational and educational purposes, not personalized investment advice.
What to check next
The next useful update is a dated refresh after new or amended official PTRs are available. The same method can then compare whether the mix of listed shares, preferred securities, options and other assets changed. Any broader congressional comparison would need a larger, explicitly defined filer sample and the same row-level owner and asset-description checks.
Sources and original documents
Nancy Pelosi — House PTR 20035143, filed August 21, 2026; current member identity checked through the Office of the Clerk.
Josh Gottheimer — House PTRs 20034938, filed July 7, 2026; 20035186, filed August 10, 2026; and 20035455, filed September 14, 2026; current member identity checked through the Office of the Clerk.
Office of the Clerk — Financial Disclosure Reports database, reviewed October 29, 2026. House Committee on Ethics — Financial Disclosure Instruction Guide, reviewed October 29, 2026.
AHNIM STUDIO’s About Us and research policy explains source responsibility, AI assistance and dated corrections.
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