Omor Ibne Ehsan
5 min read
Quick Read
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Founders Fund and Peter Thiel cut their SpaceX (SPCX) stake by about 26% last quarter, roughly $17 billion of shares, with no reason given.
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Every Founders Fund partnership shrank by about the same 28%, which looks like a pro-rata distribution to investors, though the filing doesn’t confirm it.
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Elon Musk and a small group of insiders stay locked up until mid-2027, so the next big release of shares is still ahead.
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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) 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.
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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%.
