energy · stock-purchase · disclosure-issue
Nancy Pelosi’s Bloom Energy Filing Features Glaring Clerical Discrepancies
A multi-million dollar disclosure for the clean energy company appears to suffer from a major bracket error.
2026-08-25 — Nancy Pelosi · BE
Key facts
- Nancy Pelosi disclosed a purchase of Bloom Energy (BE) stock on July 24, listed in the $1,000,001 to $5,000,000 range.
- The filing contains a massive discrepancy, valuing 10,000 shares (worth roughly $150,000 at market prices) and 100 out-of-the-money call options in the multi-million dollar bracket.
- The purchase was timed days before Bloom Energy's blockbuster Q2 earnings report on July 28, which sent the stock up 10.3%.
- On the same day, Pelosi's portfolio also acquired Intel Corp (INTC) shares in transactions totaling up to $1.5 million.
Rep. Nancy Pelosi (D-Calif.) recently disclosed a new position in clean energy provider Bloom Energy Corp (BE), but the official filing contains a massive financial discrepancy that points to a major clerical error by her office.
According to the disclosure filed on Aug. 21, the Speaker Emerita purchased Bloom Energy stock on July 24 in the $1,000,001 to $5,000,000 range, describing the transaction as 10,000 shares. However, at Bloom Energy's typical market price of under $20 per share, 10,000 shares would only be worth between $100,000 and $150,000.
The discrepancy extends to options as well. The filing also listed 100 call options (representing 10,000 shares) with an extremely out-of-the-money strike price of $100 in the same $1,000,001 to $5,000,000 bracket—a valuation that defies market reality.
Members of Congress are required by the STOCK Act to disclose trades within 45 days, and disclosed amounts are reported in ranges.
On the same day as the initial purchase, Pelosi's portfolio also acquired shares in Intel Corp (INTC) in two separate transactions totaling between $750,002 and $1,500,000. She followed up with a second Bloom Energy purchase on July 28, valued between $500,001 and $1,000,000.
The timing of the purchases was highly opportunistic. They occurred just weeks after a July 8 short-seller report by Hunterbrook Media depressed Bloom Energy's stock price. Four days after Pelosi's initial purchase, Bloom Energy reported blockbuster Q2 earnings, announcing record revenues of $1.065 billion and raising its full-year guidance. The stock has risen 10.3% since her purchase.
While Pelosi does not sit on any formal House committees, her trades are closely watched. Interestingly, corporate insiders at Bloom Energy did not share her bullish stance; several executives, including directors John T. Chambers and Jeffrey R. Immelt, disclosed significant share sales in August following the post-earnings stock run-up.
For now, the biggest mystery isn't the Speaker Emerita's market timing, but her office's math.