- Alphabet's SpaceX stake valued at $94.2 billion as of June 30, up 100-fold from 2015
- Alphabet owns 551.2 million SpaceX shares, making it the largest institutional investor
- SpaceX stock closed at $146.15 recently, 8.3% above its June 12 IPO price of $135
Alphabet's decade-old investment in SpaceX has turned into one of the most striking gains among its disclosed holdings, with the Google parent's stake valued at roughly $94.2 billion at the end of June, according to a report by Reuters.
Alphabet invested about $900 million in SpaceX in 2015. More than a decade later, the value of its disclosed holding had increased more than 100-fold, although the gain remains unrealised unless Alphabet sells the shares.
The comparison also does not represent a fresh $94 billion investment by Alphabet. The value became visible in regulatory filings after SpaceX's blockbuster public listing. Alphabet reported owning 551.2 million SpaceX shares as of June 30. At SpaceX's closing price of $170.86 that day, the holding was worth approximately $94.2 billion.
By Wednesday, the same stake was valued at around $81.8 billion, based on SpaceX's $146.15 share price. That still leaves the position worth roughly 90 times Alphabet's original investment.
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Alphabet towers over other institutional investors
Alphabet has emerged as the largest disclosed institutional holder of SpaceX following the company's $86 billion IPO in June.
Gigafund Management ranked second with 171.8 million shares, followed by Baillie Gifford with 51.4 million, BlackRock with 51 million and Ontario Teachers' Pension Plan with 50.7 million shares.
Together, the five investors account for most of the SpaceX stock reported through the latest 13F filings analysed by Reuters.
However, the filings offer only a snapshot. Institutional investors report their holdings quarterly, meaning the disclosures do not show transactions after June 30. They also do not reveal whether investors are permitted to sell their shares yet or whether they intend to lock in gains.
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SpaceX stock remains above IPO price
SpaceX began trading publicly on June 12 at $135 a share. The stock closed at $146.15 on Wednesday, leaving it 8.3% above its IPO price, although it was about 14% below its June 30 level.
The stock has remained highly active among Interactive Brokers customers. Retail investors, meanwhile, became net sellers for the first time since the listing on Friday, with Vanda Research estimating net sales of $4.5 million.
SpaceX shares have nevertheless climbed 30% since August 5, underscoring the intense investor interest surrounding the newly listed company.
For Alphabet, the SpaceX investment has become a remarkable example of how an early private-market bet can transform in value after a company reaches public markets.
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