$17 Billion of SpaceX Stock Left Peter Thiel’s Fund Last Quarter
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A filing that reached the SEC at 9:05 p.m. ET on Friday, November 13, 2026, shows that Founders Fund entities and Peter Thiel held 112,948,967 fewer Class A shares of SpaceX (NASDAQ:SPCX | SPCX Price Prediction) as of September 30 than as of June 30. At the September 30 close of $150.86, those shares were worth about $17.04 billion.
The filing does not give a reason. The filing leaves it unclear whether the shares were sold, passed to the funds’ investors, or transferred somewhere else.
SpaceX closed Friday at $139.11, down 0.59%, before the filing came out. After hours, it was quoted at $136.26, down 2.05%, after a Starship test flight ended without a booster catch.
Supply is the central issue. One of SpaceX’s earliest investors now holds about a quarter fewer shares after the first full quarter since the IPO. The stock trades below where it closed the third quarter.
What the Founders Fund Filing Shows
The filing is an amended Schedule 13G, a form passive investors use to report large stakes, and it lists 32 reporting persons. Founders Fund II is the largest, with 112,706,798 shares, down from 155,393,350.
Combined holdings fell to 314,357,058 shares, or 3.8% of 8.24 billion Class A shares. At June 30, they stood at 427,306,025, or 5.5%, so the drop is 26.4%.
Each Founders Fund partnership fell by about the same amount, around 27.5%. The cut was even across every partnership. It looks like a pro-rata distribution, meaning shares handed out to the funds’ investors in proportion to their stakes, although the filing does not confirm that.
Thiel signs as manager of the funds’ general partners and is considered to own every share. He has sole power over 17,086,097 of them, including 1,018,821 he holds directly.
Why Distributed Shares Can Pressure the Price for Months
SpaceX has been through this once already. About 911.5 million insider and early-investor shares became eligible for sale starting August 6, and the stock’s lowest close, $108.27, came the day before.
Elon Musk and a small group of insiders remain locked up until mid-2027, so the next large release of shares is still ahead.
ARK raised its position 51% to 6,746,417 shares worth $1.02 billion. Ontario Teachers’ Pension Plan cut its position 41% to 29,898,989 shares, and Harvard Management cut 34% to 8,570,292.
When big holders move in opposite directions, they disagree on what the stock is worth, and three of these four hold fewer shares than they did, so on balance more shares were coming toward the market. More holders will report by the Monday, November 16 deadline for quarterly 13F filings.
A $1.83 Trillion Valuation Meets a Supply Overhang
Friday’s close is 3.0% above the $135 IPO price and 34.2% below the $211.39 record close. Even so, SpaceX is valued at about $1.83 trillion.
Third-quarter revenue was $14.60 billion[1], and GAAP net income was $4.40 billion. The growth is real, but a valuation this large already assumes many more years of it.
Supply Overhang Could Cap SPCX Stock Through Mid-2027
SPCX is likely to face selling pressure at $139.11. The business is strong. But shares coming out of fund distributions, reductions by institutions, and the mid-2027 insider unlock are likely to hold the stock back.
Founders Fund still holds 314.4 million shares, worth about $43.7 billion at Friday’s price, so more of that position could still come to market.
If more early holders report cuts and the stock closes below the $108.27 August low, the overhang is likely the main force on the price. A close back above $150.86 would undercut this view.
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Omor Ibne Ehsan is a writer at 24/7 Wall St. He is a self-taught investor with a focus on growth, cyclical, and dividend equities that have strong fundamentals, value, and long-term potential. He also has an interest in high-risk, high-reward investments such as penny stocks.
