Elon Musk’s SpaceX Holdings Revealed. (Hint: It’s A Lot.)

SpaceX sold stock in an IPO at $135 a share. It ended the second quarter at about $171. Shares closed on Friday at $140 after bottoming out below $105 in August. (Photo by Imen Ben Youssef / Hans Lucas / AFP via Getty Images) (Hans Lucas/AFP via Getty Images)

Key Points

• Second-quarter regulatory filings disclosed SpaceX stock positions for the first time since the company’s June 12 initial public offering.
• Alphabet holds a 551 million-share stake in SpaceX, while Nvidia owns 123 million shares, representing just under 1% of outstanding stock.
• Elon Musk controls 6.4 billion shares of SpaceX, representing 48.4% of the outstanding stock.

SpaceX is a popular stock, backed by some investing and corporate heavy hitters. The heaviest hitter of all, of course, is Elon Musk.

The second quarter regulatory filings are in, disclosing who owns what. It’s the first time public funds have disclosed SpaceX positions. (SpaceX started trading on June 12, after its record-setting IPO.)

Among corporate holders, Alphabet has a 551 million-share stake with a value of about $77 billion. That is down from its disclosed value of about $94 billion. SpaceX stock ended the second quarter at about $171 a share. It closed on Friday at $140.

Nvidia is also a holder. It owns a 123 million-share stake, or just under 1% of the stock outstanding. That’s a strategic stake. Nvidia sells a lot of GPUs to SpaceX, which merged with Musk’s AI company, xAI, in February.

Fidelity, BlackRock, and Baillie Gifford are among the notable institutional shareholders with SpaceX stock. The Ontario Teachers’ Pension Plan is another large holder. Those four hold a combined 455 million-plus shares.

Then there is Musk. He controls 6.4 billion shares, or 48.4% of the stock outstanding. That was valued at about $1 trillion at the end of the second quarter. It was down to a mere $900 billion at the end of the week.

Along with his Tesla stock, Musk is worth about $1.1 trillion. He maintains his trillionaire status with SpaceX stock above roughly $120 (assuming Tesla stock is stable).

SpaceX stock spent much of July below that level, with shares battered over concerns that early investors would sell after their stock was unlocked after a brief post-IPO waiting period.

SpaceX sold about 556 million shares in its IPO (and another 83 million in a broker over-allotment option), a tiny fraction of the 13.2 billion outstanding. About 912 million shares became available to trade shortly after SpaceX’s second-quarter earnings report. Another 319 million shares unlock this week. By year-end, some 4.2 billion shares will unlock. That’s most of the non-Musk stock.

Musk can sell shares in June 2027—he’s unlikely to do so.

Write to Al Root at allen.root@dowjones.com

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