Congresswoman Nancy Pelosi (D-Calif.) just filed a new stock disclosure, and it might be the last one we ever see from her while she's in office. The trade? Selling Warner Bros. Discovery shares, a move tied to the company's merger with Paramount Skydance.

The Trade That Cashed Out Warner Bros.

Pelosi reported selling the shares on Oct. 7, with the transaction valued between $50,000 and $100,000. The filing notes explain this was a cash-out of stock from the merger with Paramount Skydance, which now trades as Skydance Corporation (NYSE: SKYD).

Under the merger terms, Warner Bros. shareholders received $31.0167 in cash for each WBD share they owned. According to data from Quiver Quantitative, Pelosi and her husband Paul Pelosi had acquired 2,419 WBD shares back in 2022 as part of a spinoff from AT&T (NYSE: T).

Those 2,419 shares would have been worth about $75,029 based on the merger buyout price. To put that in perspective, it represents 43.1% of the $174,000 annual salary Pelosi receives as a member of Congress. Not a bad chunk of change for a stake that came from a spinoff.

Skydance shares traded between $8.65 and $9.50 on Oct. 7, the day of the disclosed sale.

A Career of Trades and Scrutiny

Pelosi has long been one of the most-followed members of Congress when it comes to stock trading, largely because of the sheer size of the trades made by her husband, a venture capitalist. Recent disclosures include buying a large number of shares and options in Intel Corporation (NASDAQ: INTC) and Bloom Energy (NYSE: BE).

About a year ago, Pelosi announced she would not seek re-election in the 2026 midterm elections, a decision that will end her congressional service in January 2027. "With a grateful heart, I look forward to my final year of service as your proud representative," she said in a video addressed to San Franciscans.

Pelosi has been in Congress since 1987 and became the first female Speaker of the House, a role she held from 2007 to 2011 and again from 2019 to 2023. She is currently serving her 20th congressional term and is 86 years old.

The Pelosis have had their share of trading success, but some trades have raised eyebrows and potential conflict-of-interest concerns. One notable example: buying Nvidia stock ahead of a vote on the CHIPS Act, which was set to benefit semiconductor companies like Nvidia. Pelosi later reported selling the stock at a loss, a move that ended up costing the couple millions in potential profits years later.

She also disclosed buying Tesla Inc. options ahead of pro-electric vehicle orders supported by then-President Joe Biden. And disclosures have shown sales of stock and options ahead of investigations, such as the sale of Visa shares before a recent Department of Justice probe.

Many investors track Pelosi's trades closely. The Pelosi Tracker on Autopilot, for instance, has over $500 million in assets under management. According to Quiver Quantitative, Pelosi has disclosed over 200 trades since 2014, totaling more than $225 million. In 2026 alone, her disclosed trades exceed $19 million.

When Pelosi leaves Congress, she will no longer be required to disclose the stock and options trading activity of her husband. That means investors may have just seen the last trades ever disclosed by the former Speaker.

SKYD Price Action: Skydance shares were down 8.85% at $7.93 at the time of publication Tuesday, according to market data.