D1 Capital Partners has emerged as the largest hedge fund shareholder in SpaceX, with the firm led by Dan Sundheim reporting a stake worth more than $21.5bn following the rocket company’s public listing, according to a report by Institutional investor.
D1 disclosed ownership of more than 126 million shares in its latest regulatory filing, making it SpaceX’s 10th-largest shareholder overall. The company closed Friday at $140 a share, just above its $135 IPO price.
The position is particularly striking in D1’s portfolio. SpaceX now represents about 61% of the firm’s US common-stock holdings, making it by far its largest public equity position. By comparison, D1’s biggest US-listed long at the end of the first quarter, Maplebear, accounted for just 7.5% of the portfolio.
The concentration is not entirely new. D1 had already built a substantial SpaceX position while the company was private, with the investment reportedly representing about 45% of its private-market portfolio before the IPO.
D1 is not alone among hedge funds with substantial exposure to SpaceX. Second-quarter 13F filings revealed significant holdings across a number of prominent managers, including firms whose investments had previously been disclosed only in connection with SpaceX’s private-market ownership.
Darsana Capital Partners, run by Anand Desai, reported more than 101 million shares worth over $17.3bn. The holding represents almost 78% of its US common-stock assets, making Darsana the company’s 14th-largest shareholder. The firm reportedly began investing in SpaceX in 2019.
Coatue Management, led by Philippe Laffont, disclosed almost 18.6 million shares, making SpaceX its fourth-largest US long position. The technology-focused hedge fund has been a longstanding investor in the company.
Several major multi-strategy firms also have meaningful exposure. Millennium Management reported roughly 17.6 million shares, making SpaceX its third-largest US-listed common-stock long, while Balyasny Asset Management held almost 3.4 million shares, putting the stock fourth among its US-listed longs.
ExodusPoint reported more than 1.9 million shares, with SpaceX its fifth-largest US-listed position. Schonfeld Strategic Advisors held more than 1.1 million shares, while Element Capital Management’s approximately 506,000-share position was enough to make SpaceX its third-largest US common-stock long.
Other hedge funds, including Tudor Investment Corp and Tiger Global Management, also disclosed SpaceX holdings in their latest filings, although the positions represent smaller proportions of their overall portfolios.
