Palantir Technologies Inc. (NYSE: PLTR) develops software that helps governments and businesses analyze massive amounts of data to make better decisions. Its platforms, including Gotham and Foundry, are widely used in defense, intelligence, healthcare, and finance, making Palantir a central player in the growing AI economy.
The stock has been one of the biggest winners of the AI boom, more than doubling over the past year. Recently trading around $172 per share with a market value of approximately $410 billion, Palantir has transformed from a secretive government contractor into a global powerhouse in artificial intelligence software. The company now ranks 21st among the most valuable public companies by market capitalization.
Backed by a growing reputation as an AI leader, Palantir has shifted from founder-led controversy to institutional favorite. Co-founder Peter Thiel still holds a sizable stake, but the majority of shares now sit with some of the world’s largest asset managers, sovereign funds, and active managers betting on its long-term role in the AI economy.
Checking out who owns the stock and how insiders are trading gives a clearer picture of how investors feel about Palantir after such a significant run.
Who Are Palantir’s Top Shareholders?
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Palantir develops software that helps governments and businesses analyze large and complex datasets. Its platforms are used across defense, intelligence, healthcare, and finance, making it a key player in the AI-driven data economy.
The company’s stock is mostly held by large passive managers, alongside founder stakes and a few active funds, making notable shifts.
- Vanguard Group: 212.8M shares (9.32%), $37.7B. Added 8.1M (+3.95%).
- BlackRock Institutional Trust: 124.6M shares (5.45%), $22.1B. Added 6.2M (+5.28%).
- State Street Investment Management: 101.3M shares (4.43%), $17.9B. Added 6.8M (+7.17%).
- Peter Thiel (Co-Founder): 70.9M shares (3.10%), $12.5B. No change.
- Geode Capital Management: 53.4M shares (2.34%), $9.5B. Added 3.7M (+7.42%).
- Invesco (QQQ Trust): 51.3M shares (2.24%), $9.1B. Added 3.6M (+7.51%).
- Norges Bank: 24.3M shares (1.06%), $4.3B. Added 6.3M (+34.91%).
- BlackRock Asset Management Ireland: 23.4M shares (1.02%), $4.1B. Added 2.0M (+9.30%).
- JPMorgan Asset Management: 21.4M shares (0.94%), $3.8B. Added 13.8M (+182.95%).
- Fidelity Management & Research: 21.3M shares (0.93%), $3.8B. Added 2.8M (+15.47%).
The most notable move last quarter came from JP Morgan Asset Management, which increased its Palantir position by 182.95% to 21.4 million shares worth $3.8 billion. That represents a substantial shift in allocation.
Norges Bank, Norway’s sovereign wealth fund, added 34.91% to its stake, bringing its total to 24.3 million shares valued at $4.3 billion. The addition of 6.3 million shares signals sustained interest from one of the world’s largest institutional investors.
Among traditional asset managers, Fidelity increased its holdings by 15.47% to 21.3 million shares, while Invesco Capital Management added 12.21%, and Charles Schwab raised its position by 10.56%.
The passive giants showed consistent but measured growth. Vanguard added 3.95%, BlackRock Institutional Trust increased 5.28%, and State Street raised its stake by 7.17%. Geode Capital and the Invesco QQQ Trust both added roughly 7.5%.
Peter Thiel, Palantir’s co-founder, held his position steady at 70.9 million shares, representing 3.10% of shares outstanding.
Across the top shareholders, the pattern leans toward accumulation. The largest percentage gains came from active managers rather than passive index funds, which may reflect growing conviction in Palantir’s position within enterprise AI and government software.
See whether Palantir’s top shareholders are buying or selling today >>>
Palantir’s Recent Insider Trades
Insider trading activity often gives investors a window into how leadership views the company’s current valuation. For a stock that has soared as quickly as Palantir, insider moves can be especially telling.
While not always a direct signal of future performance, patterns of buying or selling may hint at whether executives see more upside ahead or are taking the opportunity to lock in gains.
Here are recent insider transactions:
- Ryan Douglas Taylor (Officer): Sold approximately 32,000 shares in late November 2025 across multiple transactions at prices ranging from $159.70 to $164.67.
- Alexander D. Moore (Director): Sold roughly 20,000 shares in early December 2025 at prices between $164.09 and $168.39.
- David Alan Glazer (Officer and Treasurer): Showed mixed activity in mid-December 2025. Sold 9,000 shares at $185.91, but also purchased 9,000 shares at $4.72, likely through option exercise. Additional sales included 3,831 shares at zero price, suggesting tax withholding on equity compensation.
- Jeffrey Johansing Buckley (Officer): Sold 1,252 shares at $157.50 in late November 2025.
The transactions show steady selling across multiple executives at elevated prices. The one notable purchase came from Glazer at a low strike price tied to compensation. The absence of open-market buying at current levels may suggest insiders view the stock as fairly valued after its significant run.
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What the Ownership & Insider Trade Data Tell Us
Palantir’s ownership is anchored by passive giants like Vanguard and State Street, which helps keep the stock broadly held across global portfolios. Some long-term managers such as Fidelity and Norges Bank have added significantly, which may reflect growing confidence in Palantir’s role in the AI economy. At the same time, BlackRock’s sizable reduction shows that not all large investors are convinced the rally can sustain itself.
Insider activity appears tilted toward selling, largely from co-founders Alexander Karp and Shyam Sankar. These trades may be linked to diversification or planned disposals, and Karp’s large share grant helps offset some of the sales. Still, the lack of notable insider buying suggests leadership might be cautious about committing more at today’s valuation.
For investors, the picture looks mixed. Palantir is well established in major portfolios and has attracted conviction from certain institutions, but insider selling and selective trimming by large holders show that confidence is not unanimous. The stock remains institutionally strong, yet sentiment appears divided after such a steep run.
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