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Ark Invest acquired nearly 3.3 million SpaceX shares on IPO day. At the closing price, the stake was worth more than $500 million. The shares, priced at $135 for the sale, closed at $160.95, a gain of more than 19.2%.
Purchases Spread Across Four Ark ETFs
The ARK Innovation ETF did the bulk of the buying, acquiring 1.69 million SpaceX shares and ending the day with the stock at 3.28% of its portfolio. The ARK Autonomous Technology & Robotics ETF, the ARK Space & Defense Innovation ETF, and the ARK Next Generation Internet ETF also added shares to round out the roughly 3.29 million total.
The buying gave Ark exposure to one of the most closely watched public-market debuts of the year across four of its flagship innovation-focused funds.
Ark Adds SpaceX Shares Across Four ETFs
Ark funded much of the purchase by trimming other holdings around the listing. The firm liquidated almost $280 million of stock in the week before the listing and trimmed additional positions on Friday, including holdings in Advanced Micro Devices, Roku and Baidu, according to its daily emailed trading statements.
The purchases show Ark was willing to rotate out of existing positions quickly to build a large opening stake in SpaceX.
SpaceX Raises $75B in Record-Setting IPO
SpaceX’s offering priced 555.56 million shares at $135 each, raising $75 billion at a $1.77 trillion valuation. The deal stands as the largest IPO on record by nominal proceeds, surpassing Saudi Aramco’s 2019 listing.
Ark’s own valuation model targets a $2.5 trillion enterprise value for SpaceX by 2030, with a bull case near $3.1 trillion, built off the company’s $350 billion private valuation in 2024.
