5 Best Nancy Pelosi Stocks To Buy Now

3. NVIDIA Corporation (NASDAQ:NVDA)

Number of Hedge Fund Holders: 175

NVIDIA Corporation (NASDAQ:NVDA) was one of the best stock trades initiated by Nancy Pelosi and her husband Paul Pelosi. Back in June 2022, Paul Pelosi exercised 200 call options (20,000 shares) expiring 6/17/22 at a strike price of $100. Over the past one year NVIDIA Corporation (NASDAQ:NVDA) shares have gained about 196%, thanks to the AI-led boom that made the company a hitherto undisputed leader in the AI chips segment.

Here is what Baron Global Advantage Fund has to say about NVIDIA Corporation (NASDAQ:NVDA) in its Q3 2023 investor letter:

“At the portfolio level, the positive fundamental trends we noticed in the second quarter continued into the third quarter as well – many of our companies are reporting stability or slight improvement in business trends. Weighted average 2023 revenue growth expectations for the portfolio were up 3.8% during the third quarter or up 0.8% if we exclude NVIDIA. We wrote at length about NVIDIA earlier this year, but it is worth mentioning that the company has continued to exceed its own projections and the Street’s most optimistic expectations. After raising its revenue and EPS guidance for 2023 by 40% and 69%, respectively, following its last quarter, NVIDIA increased it further by 26% and 35%, respectively, after reporting the most recent one. Consensus expectations now call for revenues to grow 94% this year, while earnings per share are expected to increase by 192%. You may have seen these kinds of growth rates before, but we doubt you saw them from a company generating $50 billion in revenues. The skeptics who continue to question and doubt the accelerating demand for Generative artificial intelligence forgot to tell NVIDIA about it. But we digress…back to the portfolio…profit expectations have risen even faster than revenues and were up 11% during the third quarter (or up 7.8% ex-NVIDIA) with margin expectations up 149bps (107bps ex-NVIDIA). So, broadly speaking, our companies are seeing improvement in overall business trends, which flow through to their bottom lines, driving higher margins. We are also starting to see the benefits of leaner cost structures and more disciplined capital allocation compared to two or three years ago when capital was both cheaper and more readily available.”