Harvard reveals $2.2 billion SpaceX stake after June Nasdaq debut

Harvard Management Co. disclosed a $2.2 billion stake in Space Exploration Technologies Corp., marking the first public look at the value of an early investment in Elon Musk's rocket company after SpaceX's Nasdaq debut in June. A 13F filing released Friday showed Harvard held 12.94 million shares of SpaceX Class A common stock as of June 30, making it the university's largest disclosed public equity position, ahead of holdings in Amazon.com, Taiwan Semiconductor Manufacturing Co Ltd, Cerebras Systems and Nvidia. The SpaceX position represented more than half of Harvard's $4.3 billion in total U.S. equities listed in the filing. At Friday's closing price of $140, the stake would be worth about $1.81 billion. The filing adds to a broader picture of major institutions building or disclosing positions in SpaceX. The University of California's investment arm reported a stake worth roughly $1 billion, Nvidia disclosed a $21 billion holding, Alphabet reported a $94.1 billion stake, and Norway's $2.3 trillion sovereign wealth fund last week revealed a $1.22 billion position, its first public disclosure in the company. SpaceX shares have been volatile since going public on Nasdaq on June 12, reaching about $225 within days, then falling to around $104 in early August before rebounding after second-quarter revenue rose 92% year over year to $7.81 billion, above analysts' $6.93 billion estimate. Shares closed 0.91% lower on Friday at $140 and added 0.4% in extended trading.

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