This article first appeared on GuruFocus.
SpaceX (NASDAQ:SPCX) investors are getting a clearer look at the heavyweight money behind Elon Musk’s company just as another wave of shares becomes eligible for trading. Second-quarter regulatory filings have exposed several previously undisclosed sub-5% holders, including Alphabet (NASDAQ:GOOGL), Peter Thiel’s Founders Fund, Fidelity, Saudi Arabia’s Public Investment Fund, Baron Capital, and Nvidia (NASDAQ:NVDA), adding a new dimension to the stock’s post-IPO ownership story.
SpaceX generates revenue through rocket launches and its Starlink satellite-internet network, while its expanding AI operations have become another major piece of the investment thesis. The company went public in June at $135 per share, transforming many long-time private-market bets into enormous publicly traded stakes.
Elon Musk remains dominant with roughly 49% of SpaceX. Alphabet (NASDAQ:GOOGL) owns about 551 million shares, or 4.2%, worth $94 billion at June’s end. Valor Equity Partners held 3.8%, while Thiel’s Founders Fund and related entities controlled roughly 3.2%. Fidelity reported a 2.3% stake across its funds.
The list gets broader from there: Gigafund owned 1.3%, Saudi Arabia’s PIF 1.2%, Baron Capital 1.1%, D1 Capital roughly 1%, and Nvidia about 0.9%. NVIDIA’s 122.8 million shares alone were valued near $21 billion at June’s close.
The disclosure lands at a sensitive moment. Roughly 319 million additional shares, representing about 7% of insider-owned equity, became eligible for trading in the latest lockup expiration. SpaceX fell nearly 5% Thursday and closed below its IPO price.
Investor takeaway
The ownership list shows extraordinary institutional conviction, but it does not reveal who plans to sell. Investors should watch whether early backers reduce stakes as more shares unlock, how quickly SpaceX’s public float expands, and whether institutional demand absorbs that supply. Changes in Alphabet, Fidelity, Nvidia, and other large positions in coming filings could become an important signal for sentiment. For now, SpaceX’s ability to reclaim and hold its $135 IPO price is the clearest near-term test.
