---
title: Lilly Endowment Sold $406M in Eli Lilly Stock in Six Weeks — And Still Owns $100B
type: news
slug: lilly-endowment-lly-406m-sell-off-2025
canonical_url: https://13finsight.com/news/lilly-endowment-lly-406m-sell-off-2025
published_at: 2026-02-28T17:27:48.286Z
updated_at: 2026-03-23T07:05:51.495Z
author: Marcus Chen
author_title: Senior Market Analyst
author_url: https://13finsight.com/authors/marcus-chen
word_count: 532
locale: en
source: 13F Insight
---

# Lilly Endowment Sold $406M in Eli Lilly Stock in Six Weeks — And Still Owns $100B

> The Lilly family's philanthropic endowment dumped 376,000 LLY shares worth $406 million between November and December 2025, yet its remaining 92.2 million shares are worth over $100 billion.

$406 Million in Sales, $100 Billion Still on the Table Lilly Endowment Inc., the Indianapolis-based philanthropic foundation and one of the largest charitable organizations in the United States, sold 376,076 shares of Eli Lilly & Co (LLY) worth approximately $406 million between November 21 and December 29, 2025, according to Form 4 filings with the SEC. The scale is enormous. But context matters: Lilly Endowment still holds 92.2 million shares after these dispositions — a stake worth roughly $100 billion at current prices. The sales represent less than 0.5% of the Endowment’s total LLY position. The Selling Timeline Date Transactions Shares Sold Avg Price Est. Value Nov 21 8 64,614 $1,063.00 $68.6M Nov 24 6 142,307 $1,070.96 $152.1M Nov 25 33 162,693 $1,093.76 $178.4M Dec 23 1 240 $1,085.04 $0.3M Dec 24 1 2,629 $1,085.17 $2.9M Dec 29 1 3,593 $1,085.04 $3.9M Total 50 376,076 $1,079.64 $406.1M The heaviest concentration came in a three-day window: November 21–25 accounted for $399 million — 98% of the total. The December sales were comparatively modest at $7.1 million, suggesting the bulk liquidation event was completed before Thanksgiving. Why Lilly Endowment Sells Unlike a CEO dumping shares ahead of bad news, Lilly Endowment’s selling follows a well-established institutional pattern. As a private foundation classified as a 10%+ beneficial owner, the Endowment is legally required to distribute approximately 5% of its assets annually for charitable purposes under IRS regulations. With a portfolio dominated by a single stock — LLY has been the Endowment’s core holding since it was founded by J.K. Lilly Sr. and his sons in 1937 — periodic share sales are the primary mechanism for funding billions of dollars in annual grants to education, community development, and religion-focused programs across Indiana and beyond. The Endowment’s Form 4 filing history tells this story clearly: $111.8 billion in total sales across 10,747 transactions over the decades. This is not a bearish signal. It is a foundation doing what foundations do. LLY in Context Eli Lilly shares traded between $1,063 and $1,110 during the selling window, reflecting the stock’s remarkable run driven by blockbuster demand for GLP-1 drugs Mounjaro and Zepbound. Even after the Endowment’s $406 million in sales, LLY’s daily trading volume easily absorbed the selling pressure without a visible impact on the share price. The weighted average sale price of ~$1,080 across all transactions suggests the sales were executed systematically through a managed program, not as market orders dumped into the book. The Numbers in Perspective Shares sold: 376,076 (0.41% of Endowment’s total position) Value sold: ~$406 million Remaining position: 92,190,516 shares (~$100B+ at ~$1,085/share) Lifetime Form 4 sales: $111.8 billion across 10,747 transactions Price range during sales: $1,063 – $1,110 per share What to Watch Q1 2026 selling: The Endowment’s annual distribution requirements mean selling will continue. Watch for filings in the $100M–$500M range per quarter. LLY price sensitivity: At $1,000+ per share, even small share counts generate large dollar-value Form 4 filings. Don’t confuse dollar size with bearish intent. Endowment grant announcements: The timing of sales often correlates with major grant cycles. The November concentration may reflect year-end philanthropic commitments. Track Lilly Endowment’s insider filings and Eli Lilly (LLY) institutional holders on 13F Insight.

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Source: 13F Insight — https://13finsight.com/news/lilly-endowment-lly-406m-sell-off-2025
Author: Marcus Chen — https://13finsight.com/authors/marcus-chen
Last updated: 2026-03-23T07:05:51.495Z