Key Takeaways
- • Founders Fund and Peter Thiel cut their SpaceX (NASDAQ: SPCX) holding by about 26.4% in the third quarter, a reduction of 112,948,967 Class A shares worth roughly $17.04 billion at the September 30 close of $150.86, according to an amended Schedule 13G filed late Friday, November 13, 2026.
- • Combined Founders Fund holdings fell to 314,357,058 shares, or 3.8% of 8.24 billion Class A shares, down from 427,306,025 shares (5.5%) at June 30.
- • The filing gives no reason for the reduction and does not confirm whether shares were sold or distributed, though the even ~27.5% cut across every partnership looks like a pro-rata distribution to investors.
- • SpaceX shares closed Friday at $139.11 and were quoted at $136.26 after hours, below the September 30 close, following a Starship test flight that ended without a booster catch.
- • Other large holders diverged: ARK raised its stake 51% to 6,746,417 shares, while Ontario Teachers' Pension Plan (down 41%) and Harvard Management (down 34%) reduced positions.
Summary
Founders Fund entities and Peter Thiel reduced their holding in SpaceX by roughly 26% during the third quarter, equal to about $17 billion of shares, according to an amended Schedule 13G filed with the U.S. Securities and Exchange Commission at 9:05 p.m. ET on Friday, November 13, 2026. The filing, a form passive investors use to report large stakes, lists 32 reporting persons and offers no explanation for the change.
The filing shows Founders Fund II, the largest holder, fell from 155,393,350 shares to 112,706,798. Each Founders Fund partnership declined by about 27.5%, a uniform reduction that the publication notes resembles a pro-rata distribution of shares to fund investors, although the filing does not confirm this. The document also does not say whether shares were sold or transferred. Thiel signs as manager of the funds' general partners and is considered to own every share; he has sole voting power over 17,086,097 shares, including 1,018,821 held directly.
The reduction comes as SpaceX trades below its third-quarter close. The stock closed Friday at $139.11, down 0.59%, and slipped to $136.26 after hours, down 2.05%, after a Starship test flight ended without a booster catch. Friday's close sits 3.0% above the $135 IPO price and 34.2% below the record close of $211.39. The company has faced earlier supply pressure: 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 a larger release of shares is still ahead.
Other major holders moved in different directions. ARK increased its position 51% to 6,746,417 shares worth $1.02 billion, while Ontario Teachers' Pension Plan cut its stake 41% to 29,898,989 shares and Harvard Management cut 34% to 8,570,292. More holders are expected to disclose positions by the Monday, November 16 deadline for quarterly 13F filings.
The filing shows Founders Fund II, the largest holder, fell from 155,393,350 shares to 112,706,798. Each Founders Fund partnership declined by about 27.5%, a uniform reduction that the publication notes resembles a pro-rata distribution of shares to fund investors, although the filing does not confirm this. The document also does not say whether shares were sold or transferred. Thiel signs as manager of the funds' general partners and is considered to own every share; he has sole voting power over 17,086,097 shares, including 1,018,821 held directly.
The reduction comes as SpaceX trades below its third-quarter close. The stock closed Friday at $139.11, down 0.59%, and slipped to $136.26 after hours, down 2.05%, after a Starship test flight ended without a booster catch. Friday's close sits 3.0% above the $135 IPO price and 34.2% below the record close of $211.39. The company has faced earlier supply pressure: 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 a larger release of shares is still ahead.
Other major holders moved in different directions. ARK increased its position 51% to 6,746,417 shares worth $1.02 billion, while Ontario Teachers' Pension Plan cut its stake 41% to 29,898,989 shares and Harvard Management cut 34% to 8,570,292. More holders are expected to disclose positions by the Monday, November 16 deadline for quarterly 13F filings.
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