Jensen Huang no longer runs Nvidia or sits on its board, but he still controls one of the largest blocks of its stock. His most recent Form 4, filed with the U.S. Securities and Exchange Commission on Sept. 18, reports about 811.5 million Nvidia shares held directly and through family trusts and limited liability companies. At Thursday's closing price of $166.19 on Nasdaq, that holding was worth about $134.9 billion, according to Capital Times calculations.

That figure matters for investors in Asia because Nvidia is the single largest weight in many regional technology and AI funds, and its share price sets the tone for suppliers from Taiwan to Korea. A founder holding of this size is a potential source of supply if the owner decides to diversify, and a source of stability if he does not. So far, the filings point to the second.

How big the stake is

The Sept. 18 Form 4 lists about 70.1 million shares owned directly and 467.7 million held by the Jen-Hsun & Lori Huang Living Trust. The rest sits in two other family trusts (31.4 million and 109.0 million shares) and six LLCs whose sole member is the living trust, holding between 6.6 million and 30 million shares each. Huang is a trustee of the trusts.

Against the 24.1 billion shares Nvidia reported outstanding as of Aug. 21 in its latest quarterly report, the Form 4 tally comes to roughly 3.4%. Fortune reported on Nov. 9 that Huang owned 3.56%, making him Nvidia's largest individual shareholder; the gap likely reflects differences in date and method. Fortune also noted that he holds no super-voting shares, so his influence as an owner rests only on the size of the block.

The stake has shrunk modestly through giving rather than selling. A December 2025 Form 4 shows a family partnership distributed about 39.9 million shares to a trust that passed them, for no payment, to an independently managed LLC, and the filing says Huang no longer beneficially owns those shares. In September 2026 the living trust gave 438,000 shares, without payment, to the family foundation and a donor-advised fund, the latest Form 4 shows.

Thursday's drop alone cut the value of the holding by about $6.1 billion, by Capital Times' calculation. Nvidia closed at $166.19, down $7.54, or 4.34%, after trading as low as $148.80 during the session, Nasdaq data show. Capital Times reported the resignation and the opening plunge separately.

The selling record

Huang's last open-market sales came under a Rule 10b5-1 trading plan he adopted on March 20, 2025, his Form 4 filings state. Such plans let insiders set a selling schedule in advance, which gives them a legal defense against claims they traded on inside information. A Capital Times review of his Form 4s shows he sold exactly 6 million shares under that plan from June 20 to Oct. 29, 2025, for about $1.05 billion in total at weighted average prices.

Since then, his filings show no open-market sales. Every 2026 transaction reported on his Form 4s has been a tax withholding on vesting restricted stock units, a performance award, a gift or a transfer between family entities. Nvidia's 10-Q for the quarter ended July 26 lists the directors and officers who adopted, changed or ended 10b5-1 plans in the period. It names director Aarti Shah, General Counsel Timothy Teter and Colette Kress, now interim CEO as well as CFO. Huang is not on the list.

What still binds him

The 8-K filed on Nov. 12 says the board accepted Huang's resignation as president, chief executive and director on Nov. 11, effective immediately. He therefore has no board seat from which to vote on the choice of his successor. The filing said nothing about his unvested equity awards, severance or any plans for his shares.

Leaving does not free him from securities rules at once. Under SEC Rule 16a-2(b), a trade made after a director or officer steps down stays subject to Section 16 of the Securities Exchange Act, the short-swing profit and reporting provision, if it comes less than six months after an opposite trade (a purchase against a sale, or the reverse) that he made while still in office and is not otherwise exempt. Nvidia has also not yet reported results for the quarter that ended Oct. 25, while he was still chief executive.

There is no lockup of the kind that follows an initial public offering. Whether Nvidia's own insider trading policy or blackout periods still cover him after his exit is not stated in the filings.

What it means for the stock

A sale of even part of the block would be large in dollar terms. One million shares fetch about $166 million at Thursday's price, and the 2025 plan took more than four months to sell 6 million. Nasdaq data show about 733 million Nvidia shares changed hands on Thursday, so a gradual program would be small against daily volume, although Nvidia's quarterly reports list trading plans only for current directors and officers.

The board has said it is investigating Huang's conduct, and he has not been charged with any wrongdoing. Any sale he must report would appear in filings on the SEC's website. The next fixed date is Tuesday, Nov. 17, when Nvidia reports third-quarter results under Kress.