D1 Capital is biggest hedge fund holder of SpaceX after IPO
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 Capital, a prominent hedge fund managed by Dan Sundheim, has emerged as the largest individual shareholder in SpaceX, with a stake exceeding $21.5 billion following the company's public listing. According to a report by Institutional Investor, D1 disclosed ownership of over 126 million shares in its latest regulatory filing, securing the position as SpaceX's 10th-largest shareholder overall.
The company's stock closed at $140 on its IPO day, just above the $135 offering price. Notably, D1's SpaceX investment represents a significant 61% of the firm's US common-stock holdings, making it the company's largest public equity position. In comparison, D1's biggest US-listed long, Maplebear, only accounted for 7.5% of the portfolio.
While this concentration is not entirely new, as D1 had already built a substantial SpaceX position while the company was private, holding roughly 45% of its private-market portfolio before the IPO. D1 is not alone in its substantial exposure to SpaceX. Other prominent hedge funds, such as Darsana Capital Partners, Coatue Management, Millennium Management, Balyasny Asset Management, ExodusPoint, Schonfeld Strategic Advisors, Element Capital Management, Tudor Investment Corp, and Tiger Global Management, have also reported significant holdings in the company, with some representing nearly 60% of their US common-stock assets.
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