Ark Invest added to its SpaceX position after the newly listed stock pulled back sharply from recent highs. In Monday’s daily trade disclosure, the firm reported buying 210,121 shares of SpaceX, ticker SPCX, across ARKK, ARKQ, ARKW, and ARKX. Based on the stock’s closing price of $154.60, the purchase was worth about $32.48 million.
SpaceX shares closed down 16.43% on Monday. The stock debuted on Nasdaq on June 12 at $150 per share and climbed to an intraday high of $225.64 on June 16. By Monday’s close, most of that early post-IPO gain had faded, with the shares trading near $154.60.
SpaceX moves deeper into Ark’s top holdings
Ark’s updated holdings data showed SpaceX becoming one of the firm’s larger positions. In the flagship ARKK fund, the stock represented 4.46% of assets, equal to about $313.7 million. SpaceX ranked as the fourth-largest holding in ARKQ, the largest holding in ARKX, and the tenth-largest holding in ARKW.
The latest purchase came after a much larger buy on SpaceX’s first day as a public company. On June 12, Ark purchased about 3.29 million shares across the same four ETFs, a position valued at roughly $444.3 million at the time. ARKK took the biggest allocation with about 1.69 million shares, while the rest was distributed among ARKQ, ARKW, and ARKX.
Ark had exposure before the IPO
Ark already held SpaceX before the public listing through its ARK Venture Fund. Earlier fund disclosures identified SpaceX as the venture fund’s largest position.
Cathie Wood, Ark Invest’s founder and chief executive officer, also backed the company publicly this month. In an interview with Fox Business, she said SpaceX had a “10-year lead on any other company” in its sector. Ark’s internal valuation models put SpaceX at a base-case enterprise value of about $2.5 trillion by 2030, while its bull-case estimate stands near $3.1 trillion.
Bond sale announced as trading stays active
SpaceX also said on Monday that it had launched its first bond offering, though the company did not disclose the size of the deal. According to the company, proceeds will be used to repay outstanding borrowings under its bridge loan facility, cover related expenses, and support general corporate purposes.
At its IPO valuation of roughly $1.77 trillion, SpaceX entered the market as one of the largest public listings on record. Trading tied to the stock was active outside the cash equity market as well. Hyperliquid’s HIP-3 perpetual contract linked to SpaceX, also listed under the symbol SPCX, recorded about $1.4 billion in trading volume on the stock’s first day.
The buy also matches a recent pattern in Ark’s portfolio activity. Last week, after Coinbase shares fell nearly 13% over a one-month period, Ark bought about $18.4 million worth of Coinbase stock. In May, the firm also added more than $4.4 million of Bullish shares after an extended decline in that exchange operator’s stock price.