D1 Capital Becomes Biggest Hedge Fund Holder of SpaceX

D1 Capital Partners disclosed ownership of more than 126 million SpaceX shares in a regulatory filing after the company’s IPO, valuing the stake at over $21.5 billion. The disclosure makes D1 the largest hedge fund investor in SpaceX and places the firm as the company’s 10th-largest shareholder overall.

The stock closed at $140 a share, above the $135 IPO price. SpaceX accounts for roughly 61% of D1’s U.S. common-stock holdings, making it D1’s largest public equity position. Before the IPO, the firm’s SpaceX investment made up about 45% of its private-market portfolio. At the end of the first quarter, D1’s largest U.S.-listed long, Maplebear, represented about 7.5% of the portfolio.

Other hedge funds reported substantial SpaceX positions in second-quarter 13F filings and related regulatory reports. Darsana Capital Partners reported more than 101 million shares, valued at about $17.3 billion, representing nearly 78% of its U.S. common-stock assets and ranking it among the company’s largest holders. Coatue Management disclosed roughly 18.6 million shares. Millennium Management reported about 17.6 million shares. Balyasny Asset Management held nearly 3.4 million shares. ExodusPoint reported more than 1.9 million shares. Schonfeld Strategic Advisors disclosed over 1.1 million shares. Element Capital Management reported roughly 506,000 shares. Tudor Investment Corp. and Tiger Global Management also reported positions that are smaller relative to their overall portfolios.

The regulatory filings convert previously private stakes into public-equity holdings and provide a clearer view of how hedge funds allocated to SpaceX after the listing. The reports show large, concentrated positions for some managers and smaller, but notable, holdings for others.