---
title: "Sequoia handed partners 5.76 million DoorDash shares, about $1 billion, dropping below 5% disclosure"
description: "Sequoia's funds handed 5.76 million DoorDash shares to their partners on November 2, cutting the group to 4.3% and out of automatic disclosure, days after DoorDash signed a $17 billion, debt-funded Instacart deal and its co-founders sold under pre-set plans."
publisher: "The Inference"
section: "Applications"
published: 2026-11-05T16:21:45.565Z
modified: 2026-11-05T16:21:45.565Z
canonical: https://theinference.org/article/sequoia-handed-partners-5-76-million-doordash-shares-about-1-billion-dropping-below-5-disclosure
language: en
keywords: "DoorDash, Sequoia Capital, Insider Trades, Instacart, Venture Capital"
---

# Sequoia handed partners 5.76 million DoorDash shares, about $1 billion, dropping below 5% disclosure

> Sequoia's funds handed 5.76 million DoorDash shares to their partners on November 2, cutting the group to 4.3% and out of automatic disclosure, days after DoorDash signed a $17 billion, debt-funded Instacart deal and its co-founders sold under pre-set plans.

Two Form 4s and [a Schedule 13G/A](https://www.sec.gov/Archives/edgar/data/1792789/000119312526447401/0001193125-26-447401-index.htm) hit EDGAR on November 4, and together they show [DoorDash](https://theinference.org/markets/companies/doordash)'s founding backer quietly handing its biggest position to its own investors [1][2]. On November 2, [Sequoia Capital](https://theinference.org/markets/companies/sequoia-capital) Fund, LP distributed 5,135,244 DoorDash shares to its partners, and Sequoia Capital Fund Parallel, LLC another 628,103, "for no consideration," per the filings: an in-kind payout of about 5.76 million shares, worth roughly $1.0 to $1.1 billion at the day's trading prices [1][2].

## The stake slipped under the disclosure line

The group's stake fell from 23,567,430 shares on September 30 to 17,804,083, or 4.3% of DoorDash's 412.0 million Class A shares [2]. That drops Sequoia below the 5% threshold, which ends the automatic visibility its 13G filings have carried; from here, its moves surface only when insiders report them [2].

The same day, [co-founder Andy Fang sold 5,000 shares at $181.17 ($906,000)](https://www.sec.gov/Archives/edgar/data/1792789/000183239026000027/0001832390-26-000027-index.htm) and [co-founder Stanley Tang sold 23,125 shares](https://www.sec.gov/Archives/edgar/data/1792789/000183261426000037/0001832614-26-000037-index.htm) for about $4.4 million, both under pre-set 10b5-1 plans [1][3][4]. Fang's filing states his sold shares came from Sequoia's distribution. Director [Alfred Lin](https://theinference.org/markets/people/alfred-lin), one of Sequoia's seven general partners, took 254,364 shares into an estate vehicle, holding 1,131,481 after [1][3][4].

## The timing is the story

The handout landed three days after DoorDash signed [the $17 billion Instacart agreement](https://theinference.org/article/doordash-s-record-quarter-funds-a-17-billion-instacart-buyout-at-65-a-share-at-least-75-in-cash), backed by a bridge loan of up to $13 billion and a $1.25 billion fee if antitrust regulators block the deal, and after a record quarter: [net income of $466 million, up 91%, on revenue of $4.6 billion](https://ppc.land/doordash-net-income-gains-91-to-466m-in-a-record-quarter/) [3][5].

*Chart: **DoorDash's record quarter: net income up 91% as the Instacart deal was signed** Column chart of DoorDash net income attributable to common stockholders across five quarters, Q3 2025 through Q3 2026, rising from $244 million to $466 million*

*Net income attributable to common stockholders, US$ millions, as published in DoorDash's quarterly releases. Source: PPC Land, November 5, 2026. [5]*

The same week, Sequoia [published its restructuring memo](https://techcrunch.com/2026/11/04/sequoia-hits-rewind-undoing-20-years-of-expansion/): about $10 billion raised in new funds, the London office closing, the Arc accelerator and Scouts programs killed [6]. The retreat is a portfolio decision, not a verdict on DoorDash's business, which set records across Marketplace GOV, revenue and net income [5].

But the arithmetic of supply stands: 5.76 million freely tradable shares left one holder's drawer in a single day while the company that printed them raises $13 billion to buy a competitor. Sequoia's limited partners hold the paper; public buyers absorb the rest. Watch the Forms 4, because the 13G telemetry is gone.

## Takeaway

Sequoia's in-kind distribution of 5.76 million DoorDash shares, worth about $1 billion, cuts its stake to 4.3% and out of automatic 13G disclosure, leaving Forms 4 as the only window on what was once the company's founding position, days after a record quarter and a $17 billion Instacart deal.

## Sources

1. [SEC EDGAR, Form 4, DASH, Alfred Lin, filed 4 November 2026](https://www.sec.gov/Archives/edgar/data/1792789/000179033026000009/0001790330-26-000009-index.htm)
2. [SEC EDGAR, Schedule 13G/A, Sequoia entities re DoorDash, filed 4 November 2026](https://www.sec.gov/Archives/edgar/data/1792789/000119312526447401/0001193125-26-447401-index.htm)
3. [SEC EDGAR, Form 4, DASH, Andy Fang, filed 4 November 2026](https://www.sec.gov/Archives/edgar/data/1792789/000183239026000027/0001832390-26-000027-index.htm)
4. [SEC EDGAR, Form 4, DASH, Stanley Tang, filed 4 November 2026](https://www.sec.gov/Archives/edgar/data/1792789/000183261426000037/0001832614-26-000037-index.htm)
5. [PPC Land, DoorDash net income gains 91% to $466m in a record quarter, 5 November 2026](https://ppc.land/doordash-net-income-gains-91-to-466m-in-a-record-quarter/)
6. [TechCrunch, Sequoia hits rewind, undoing 20 years of expansion, 4 November 2026](https://techcrunch.com/2026/11/04/sequoia-hits-rewind-undoing-20-years-of-expansion/)


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Sequoia handed partners 5.76 million DoorDash shares, about $1 billion, dropping below 5% disclosure — The Inference. Canonical: https://theinference.org/article/sequoia-handed-partners-5-76-million-doordash-shares-about-1-billion-dropping-below-5-disclosure