U.S. Representative Nancy Pelosi (D-San Francisco) has spent decades in Congress, including two stints as House Speaker. Yet her stock trades, which must be disclosed regularly, are watched almost as closely as any Wall Street fund manager’s moves.
One of the newer names showing up in that portfolio is Tempus AI, a Chicago-based healthcare technology company.
The stock has had a rough stretch this year. But the underlying business just posted one of its strongest quarters yet.
So does Rep. Pelosi’s portfolio exposure to Tempus AI (TEM) stock still make sense heading into the back half of 2026? Here’s what the data show.
Nancy Pelosi stock portfolio explained
Members of Congress and their spouses must publicly disclose stock trades under federal ethics law, which is how the public sees Pelosi’s equity holdings.
According to the Nancy Pelosi stock tracker, current holdings show 15 positions worth $44.56 million, with an overall gain of 22.6% in the last 12 months.
The largest position is Nvidia, at 15% of the portfolio, followed by Alphabet at 12% and Broadcom at 11%. Bloom Energy also sits at 11%, with Intel at 10%.
Related: Nancy Pelosi places big bets on two surging tech stocks
Tempus AI ranks among the smaller positions at 6% of the portfolio, tied with CrowdStrike and Vistra. Amazon rounds out the top 10 names at 5%.
Rep. Pelosi is clearly bullish on chipmakers, cloud, and AI infrastructure names in 2026. Valued at a market cap of $13 billion, Tempus AI is also part of the AI megatrend.
The company went public in June 2024 and has since returned over 70% to shareholders. At the time of writing, the stock trades 36% below all-time highs.
AFP/Getty Images
Tempus AI stock reports strong Q2 numbers
Tempus AI runs a healthcare technology platform that connects doctors’ offices with lab testing, data analytics, and a large library of patient data.
Its core business includes diagnostic tests for cancer patients, genetic testing for inherited conditions, and a data licensing business that sells de-identified patient data to drugmakers.
- Tempus AI reported second-quarter revenue of $382.5 million, up 22% year over year.
- Diagnostics revenue reached $289.3 million, up 20%, while the data and apps segment grew 28% to $93.2 million.
- Tempus AI also posted a small GAAP profit of $5.6 million in the quarter and adjusted EBITDA of $8 million, up $13.6 million from a year earlier.
- The company ended the quarter with $820.7 million in cash and investments, up from $643.8 million the prior quarter.
Management raised full-year revenue guidance to a range of $1.595 billion to $1.605 billion, roughly 25% higher year over year, and expects adjusted EBITDA around $65 million for 2026.
“Q2 was another exceptional quarter for us,” Tempus CEO Eric Lefkofsky stated. “Our strategy is working, given the investments we have made in AI over the past several years are driving some of the best growth rates we have seen in our two largest businesses — Oncology Diagnostics and Data Licensing.”
What could drive a Tempus AI stock rebound
Tempus AI has a few catalysts lined up for late 2026 and beyond.
The company won FDA approval for a version of its xT cancer test, which unlocks higher government reimbursement pricing starting in 2027.
Tempus expects the approval to add roughly $85 million in annual revenue.
A second test, xF, is currently before the FDA, and executives said they now expect an even bigger pricing lift than they previously modeled, based on how competitor Guardant Health priced a similar product.
More AI:
- Nvidia just made a move Wall Street wasn’t ready for
- Microsoft just took sides in AI policy fight
- OpenAI just disclosed something genuinely alarming
Tempus also confirmed a deal to acquire Personalis, a company it has partnered with since 2023, for cancer monitoring test NeXT Personal.
Lefkofsky said the deal, valued at nearly $1.5 billion in stock and cash, should accelerate adoption of that test.
Volumes for that test grew 38% from the first to the second quarter, even though only about 10% of the sales team currently sells it.
On the data side, Tempus AI signed new licensing deals with BioNTech, Daiichi Sankyo, and others in the quarter, adding to existing relationships with AstraZeneca, GlaxoSmithKline, Bristol Myers Squibb, and Merck.
Lefkofsky described the pace of new deal signings as among the strongest stretches the data business has ever had.
Is the Nancy Pelosi stock undervalued?
Investing in this Nancy Pelosi stock carries certain risks.
Tempus AI carries debt, though it refinanced part of that debt in the quarter through a $460 million note offering that management said will save more than $30 million a year in interest.
The Personalis deal will also add near-term losses to the business before pricing improvements kick in next year.
According to consensus data compiled by TIKR:
- Analysts tracking Tempus AI stock forecast revenue to increase from $1.27 billion in 2025 to $3.37 billion in 2030.
- It is projected to end 2030 with a free cash flow of $200 million, compared to an outflow of $12 million this year.
If TEM stock trades at 40x forward FCF, it would be valued at $8 billion in late 2029, below its current market cap.
For the stock to double from current levels within the next four years, it should trade at 130x forward FCF, which is steep.
Out of the 15 analysts covering the Nancy Pelosi stock, eight recommend “Buy,” and seven recommend “Hold.” The average Tempus AI stock price target is $63, which is 5% below current prices.
For now, Tempus AI stock remains a small piece of a Pelosi portfolio that is up 22.6% this year.
Whether that piece grows into a bigger winner may depend on how quickly the pricing changes and the Personalis deal show up in the numbers over the next two quarters.
Related: Nancy Pelosi makes intriguing first-ever bet on AI power stock
