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D1 Capital becomes SpaceX's largest hedge fund shareholder after IPO

D1 reported owning more than 126 million SpaceX shares worth over $21.5 billion, and the stake makes up about 61% of its US common-stock holdings.

Reported · Written up by our desk · Hedge Funds

D1 Capital Partners has emerged as the largest hedge fund shareholder in SpaceX after the rocket company’s public listing, Hedgeweek reported, citing a filing reviewed by Institutional Investor.

The firm, led by Dan Sundheim, disclosed ownership of more than 126 million shares worth more than $21.5 billion, placing SpaceX as the fund’s 10th-largest shareholder overall. SpaceX also accounts for roughly 61% of D1’s US common-stock holdings, making it by far the largest public equity position in the portfolio.

D1’s concentration was built before the IPO as well, with the investment reportedly representing about 45% of its private-market portfolio before SpaceX went public. The stock closed Friday at $140 per share, slightly above its $135 IPO price.

Hedgeweek said other large hedge funds also hold substantial SpaceX positions based on second-quarter 13F filings, including Darsana Capital Partners with more than 101 million shares worth over $17.3 billion, and Coatue Management with nearly 18.6 million shares. Millennium, Balyasny, and ExodusPoint were also listed among managers with sizable holdings.

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