r/FundriseInvestors

Hi,

Has anyone found out what happened to our fractional shares when Computershare converted our VCX shares to unlocked on 8/14/2026? I assume they are selling them like they did with the pre-listing VCX fractional shares back in April but I do not see any confirmation of this in my Computershare account.

Thanks!

Ben

EDIT: Added unhedged breakeven price column in one of the comments.

I did a quick analysis based on the current prices on the market. Before that, the whole issue of restricted shares and the legality. If you read the fund filings (there is a thread here where someone mentioned the relevant section), the restrictions are enforced at the custodian level i.e. Computershare. They won't let you transfer shares over to your broker until the end of the lockout. The broker doesn't see those shares and therefore won't let you sell covered calls and any other hedged strategies, and your options trades will be "naked" and cost a lot of margin, plain and simple. If you enter into a contract with a private party that involves placing a claim on the shares, well a smart counterparty won't because the shares are locked up and cannot be pledged towards anything because the custodian won't allow.

That being said you should be free to buy puts to lock in a guaranteed profit. This will obviously involve the cost of buying the options. You can buy a put that has an expiration date past the lock up expiry. Right now there is only one such series available with expiration on October 16, 2026. A put gives you the right to sell the stock at the strike price on or before the expiration. I will keep this analysis simple by assuming you bought the restricted shares on the last day you could have (February 20th, 2026) and paid $18.26 for them. As an example right now the Oct $100 put will cost you $62.30. You could pay that (note though that you are paying 3.4x what you paid for the shares!, this ain't cheap and you need to commit significant capital). So now you have spent 62.30+18.26 = $80.56 and have the ability to sell you shares at $100 which will lead to a profit of $19.44. Again I will keep things simple by assuming you carry out this transaction on expiration day. So basically you have committed $80 to profit $20 over 7 months. ~25% profit which if you annualize becomes ~45%. It depends on what you wish and whether you have the capital but this is a solid rate of return by all means! I have conducted this analysis for the whole option chain using the prices this noon (April 2, 2026).

https://preview.redd.it/lywk1k8hzssg1.png?width=747&format=png&auto=webp&s=f8bd76a816e4fbca3faa543c5987ebefb83cdafd

Enjoy! You can use this methodology to reason over your decisions. Options can certainly be used in many different ways and expert traders will have more complicated setups. For the average person this is the simplest and the clearest way to think about it.

If this is true then it caps the projected VCX NAV at about $30-32. I think there is enough information now to make a sensible decision. Consider everything and do what makes sense to you. There are people who are long here and there are people who are short here and there will be a lot of posts in the coming days. The pump and dumpers will be back too. To each their own, read up on stuff. The puts are still available if that suits your style.

Submitted online paperwork today. The transfer is in process. Had to fight through several browser errors to push this through. Had to sign and submit an "Unlike Account" form since I owned VCX in and individual account, but my ETrade account is a joint account with my wife. Called ETrade 3 times over the month to prep for this day. Got a direct phone number and email address to my account rep and spoke with him yesterday to finalize plans. Will be on the horn with him tomorrow to spot check progress.

I think this will dip after the lock-up, but it could explode closer to the IPOs of Anthropic and OpenAI