DFJ
WisdomTree Japan SmallCap Dividend Fund
stock NYSE ETF

The part that actually matters here is the employee rolling tranches Aug-Dec 2026, that's the quieter pressure people aren't talking about enough. Founders Fund and DFJ sitting at near zero cost basis with Dec 8 unlock is the obvious one, but 10-15% of float from RSU employees dripping out over months is a different kind of headwind. Sequoia at $5.68 basis entered at $74B valuation so they're still deep green even after any pullback, probably not panic sellers. The EchoStar position is weird to me, spectrum deal at $212 pre-split and now locked until December, wonder if that gets complicated depending on how the spectrum integration goes. I wouldn't trust the estimated rows too much for precise decisions but the S-1 confirmed ones (Musk, Valor, IPO float) give you the skeleton to work with at least.

The part that actually matters here is the employee rolling tranches Aug-Dec 2026, that's the quieter pressure people aren't talking about enough. Founders Fund and DFJ sitting at near zero cost basis with Dec 8 unlock is the obvious one, but 10-15% of float from RSU employees dripping out over months is a different kind of headwind. Sequoia at $5.68 basis entered at $74B valuation so they're still deep green even after any pullback, probably not panic sellers. The EchoStar position is weird to me, spectrum deal at $212 pre-split and now locked until December, wonder if that gets complicated depending on how the spectrum integration goes. I wouldn't trust the estimated rows too much for precise decisions but the S-1 confirmed ones (Musk, Valor, IPO float) give you the skeleton to work with at least.