The 13F Data Is a Snapshot As of June 30, Filed Up to Six Weeks Later — It Won't Reflect Any Buying or Selling Since Then

Alphabet's initial $900 million investment in Elon Musk's rocket company SpaceX in 2015 was worth roughly $94 billion at the end of June, a 100-fold jump, according to a report. The gain makes Alphabet by far the largest single institutional shareholder in SpaceX following the company's $86 billion IPO in June, a analysis of public quarterly filings found. Other investors who disclosed their holdings after the IPO include early backer Fidelity Investments, Saudi Arabia's sovereign wealth fund — the Public Investment Fund — and Hancock Prospecting, the holding company controlled by Australian mining magnate Gina Rinehart.

The filings reveal the stakes SpaceX's backers built as the company grew from a closely held startup into a publicly listed giant. The 13F data is a snapshot as of June 30, filed up to six weeks later — it won't reflect any buying or selling since then. It also has limits given SpaceX's vast investor base and the shifting timeline for when different stakes become eligible for public trading, the report said.

It's very, very difficult to tease out which of these institutions were holding pre-IPO shares, said Steve Sosnick, market strategist at Interactive Brokers. Sosnick noted that the 13F filings don't show investors' lockup status or their plans for cashing in on pre-IPO gains. Alphabet held 551.2 million SpaceX shares at the end of the quarter, valued at about $94.2 billion based on SpaceX's June 30 price of $170.86, according to the filing.

At Thursday's price, the stake was worth roughly $77.9 billion, but still represented 86.5 times Alphabet's original investment. Fidelity Investments held 302.6 million SpaceX shares, followed by Gigafund Management with 171.8 million, Saudi Arabia's PIF with 154.1 million, Baillie Gifford with 51.4 million and BlackRock with 51 million. Hancock Prospecting held 8 million shares.

The five largest reported holders made up for nearly three-quarters of SpaceX's reported shares. Separately, SpaceX said Elon Musk owned a 48.4% stake in the company. SpaceX was listed on June 12 at $135 a share.

The stock closed at $141.29 on Thursday, up 4.7% from its IPO price but down 17.3% from its June 30 close. Sosnick told that SpaceX remains one of the most actively traded stocks among customers at Interactive Brokers, receiving a fresh jolt of buying last week when market fears about what would happen when the first lockup expiry arrived proved to be unfounded. SpaceX shares fell 3% on Thursday but remain up 30% since August 5. Retail investors turned net sellers for the first time since the IPO on Friday, selling a net $4.5 million worth of shares, according to Vanda Research.