Norway, Canada funds disclose SpaceX stakes after IPO

Two of the world's largest government-backed investment funds disclosed holdings in SpaceX this week, underscoring the breadth of institutional demand for Elon Musk's space and AI conglomerate following its public listing earlier this year.

Norway's Record Haul Includes SpaceX

Norway's Government Pension Fund Global, the world's largest sovereign wealth fund with $2.3 trillion in assets, revealed on Wednesday that it holds a 0.05% stake in SpaceX valued at $1.22 billion as of June 30, according to CNBC. The disclosure came alongside the fund's report of a record first-half profit of $184.3 billion, driven largely by technology stocks and equity gains in Asia.reuters+1

Managed by Norges Bank Investment Management, the fund owns an average of 1.5% of all listed companies globally and holds positions in approximately 7,100 companies worldwide. While the SpaceX stake is substantial in dollar terms, it represents a small fraction of the fund's portfolio compared with holdings in Nvidia ↗ 0.54%, Apple ↗ 1.00%, Alphabet ↗ 0.46%, and Microsoft ↗ 0.90%, where positions range from $35 billion to $62 billion.finance.yahoo

Canada's PSP Joins the Cap Table

Separately on Thursday, Bloomberg reported that Canada's Public Sector Pension Investment Board disclosed it holds 100,000 shares of SpaceX as of the end of June. The C$321 billion fund manages retirement savings for Canadian government employees including the military and the Royal Canadian Mounted Police.bloomberg

PSP Investments posted a 6.5% return for its fiscal year ending March 31, with public equities its top-performing asset class at 20.6%. The fund invested over C$10 billion in Canada during fiscal 2026.investpsp+1

Institutional Appetite After a Historic IPO

SpaceX filed for its initial public offering earlier this year after merging with Musk's AI startup xAI in a combination valued at $1.25 trillion. The disclosures from Norway and Canada add to a roster of institutional holders that already includes Alphabet, Fidelity Investments, Baillie Gifford, and Baron Capital Group.keeptrack+1

The Norwegian fund's investment is notable given its history of voting against Musk's compensation at Tesla ↗ 3.80%, where it holds roughly 1% of shares worth about $15.7 billion. Morgan Stanley has projected that SpaceX stock could reach $600, while billionaire investor Ron Baron has predicted the company could be worth $14 trillion within a decade.beincrypto+1