Alphabet's SpaceX bet grows to $94b

The Express Tribune reported, citing a Reuters analysis, that Alphabet, Google's parent, disclosed a SpaceX holding worth roughly $94 billion at June's close. That value is more than 100 times the $900 million the company invested in Elon Musk's rocket firm in 2015. Following SpaceX's $86 billion initial public offering in June, Alphabet now stands as the biggest institutional owner by a wide margin.

Other large backers, including Fidelity Investments, Saudi Arabia's Public Investment Fund and Hancock Prospecting, the holding company controlled by Gina Rinehart, are also expected to unveil their positions. The filings show how far early stakes have grown as SpaceX moved from private ownership to public trading. However, 13F data is compiled quarterly and reaches the public within six weeks, so it omits any trades made after June 30.

The company's quarter-end filing shows 551.2 million SpaceX shares, which were worth about $94.2 billion based on the June 30 quote of $170.86 per share. Valued at Thursday's price instead, the holding comes to roughly $77.9 billion, still about 86.5 times the original outlay. Steve Sosnick of Interactive Brokers noted that the filings do not show lockup status or plans to take profits.