Destiny Tech100 Inc. identifies SpaceX as largest portfolio position
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 23 2025
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Should l Buy DXYZ?
Source: NPORT-P/A
Destiny Tech100 Inc. has seen its stock rise by 6.30%, reaching a 20-day high amid positive market conditions.
The company has identified SpaceX as its largest position, accounting for 16.2% of its portfolio, reflecting strong market confidence and growth expectations for SpaceX ahead of its anticipated IPO this summer, valued at $1.75 trillion. This strategic positioning indicates that Destiny Tech100 Inc. is capitalizing on the excitement surrounding SpaceX's upcoming public offering.
The implications of this investment strategy suggest that Destiny Tech100 Inc. is well-positioned to benefit from the potential growth of SpaceX, which is generating substantial investor interest and could significantly impact the market landscape.
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About DXYZ
Destiny Tech100 Inc. (the Fund) is a non-diversified, closed-end management investment company. The Fund’s investment objective is to maximize the portfolio’s total return, principally by seeking capital gains on equity and equity-related investments. Under normal market conditions, the Fund will invest at least 80% of its total assets in equity and equity-linked securities of companies principally engaged in the technology sector. The Fund will invest in the equity and equity-linked securities of what it believes to be rapidly growing venture-capital-backed emerging companies, located in the United States. The Fund may also invest on an opportunistic basis in select United States publicly traded equity securities or certain non-United States companies that otherwise meet its investment criteria. It concentrates its investments in companies operating in one or more industries within the technology group of industries. Destiny Advisors LLC serves as the investment adviser to the Fund.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
SpaceX Plans Summer IPO Valued at $1.75 Trillion
- IPO Anticipation: SpaceX is set to launch its IPO this summer with a projected valuation of $1.75 trillion, potentially the highest in IPO history, which has sparked significant investor interest and could have a major market impact.
- Alphabet Investment: Google parent Alphabet invested $900 million in SpaceX in 2015, acquiring approximately 6.11% of its shares, and if SpaceX successfully goes public, this investment could be worth around $105 billion, enhancing Alphabet's competitive edge in the AI sector.
- EchoStar Partnership: EchoStar is planning to sell spectrum licenses to SpaceX, which will result in millions of SpaceX shares for EchoStar, with the deal expected to receive regulatory approval in the first half of this year, leading to a 420% stock increase for EchoStar over the past year due to its relationship with SpaceX.
- Fund Investment Options: The Baron Partners Fund and Ark Venture Fund hold 33% and 17% of their portfolios in SpaceX, respectively, providing indirect investment opportunities for investors before the IPO, although these funds come with higher investment thresholds and lower liquidity.
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Alphabet's Investment in SpaceX and IPO Prospects
- Investment Background: Alphabet has invested in SpaceX since 2015 alongside Fidelity, initially contributing $900 million when SpaceX was valued at around $12 billion, holding approximately 7%, and now reduced to 6.11%, still a significant stake.
- IPO Expectations: SpaceX plans to IPO this summer with an anticipated valuation of $1.75 trillion, potentially the highest in IPO history, generating substantial investor interest, with Alphabet's investment potentially worth around $105 billion if successful.
- Partnership Dynamics: EchoStar, a key partner of SpaceX, plans to sell spectrum licenses and is expected to gain millions of SpaceX shares, with the agreement awaiting regulatory approval, and the market remains optimistic about its success.
- Investment Options: For average investors, investing in Alphabet is the best way to gain indirect exposure to SpaceX, although waiting for SpaceX's IPO is the most direct route, Alphabet's investment offers a relatively stable return potential amidst volatility.
See More
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- Diverse Investment Opportunities: SpaceX's recent IPO filing has generated excitement among investors, who can participate through SoFi's Cosmos Fund, which focuses solely on SpaceX and is open only to accredited investors.
- ETF Investments: Cathie Wood's Ark Venture Fund currently holds a 17% position in SpaceX, reflecting strong confidence in the company and potentially enhancing the fund's overall performance.
- Crossover Investment Strategy: The ERShares Private-Public Crossover ETF allocates 27% of its portfolio to SpaceX, indicating a strategy that blends investments in both public and private companies, thereby enhancing investor diversification options.
- Indirect Investment Channels: Investors can also gain exposure to SpaceX by investing in companies like Alphabet, which owns over 6% of the company, and EchoStar, which has a pending deal that could grant it SpaceX shares pending regulatory approval.
See More
Investment Opportunities in SpaceX Ahead of IPO
- Diverse Investment Channels: Although SpaceX is not yet public, investors can access the company through SoFi's Cosmos Fund, a private equity fund exclusively for accredited investors, indicating strong market interest in SpaceX.
- Significant ETF Investment: Cathie Wood's Ark Venture Fund currently holds a 17% stake in SpaceX, while the ERShares Private-Public Crossover ETF has an even higher allocation of 27%, reflecting the funds' commitment to the company.
- Investment Management Company Involvement: Destiny Tech 100 identifies SpaceX as its largest position, accounting for 16.2% of its portfolio, further demonstrating market confidence and growth expectations for the company.
- Indirect Investment Opportunities: Investors can also gain exposure to SpaceX through companies like Alphabet, which owns over 6% of the firm, and EchoStar, which has a pending deal for shares pending regulatory approval, showcasing strategic positioning towards SpaceX.
See More
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- Google's Stake Value: Google's 6.1% stake in SpaceX and 14% stake in Anthropic are currently valued at approximately $76.3 billion and $50 billion, respectively, with a combined potential worth of $241 billion, highlighting the immense investment potential for Google in these firms.
- Significant Revenue Growth: Anthropic's annualized revenue rate has surged past $30 billion, tripling from $9 billion last year and surpassing rival OpenAI, providing strong support for its upcoming IPO.
- Retail Investor Participation: Retail investors are gaining exposure to these marquee tech companies through various funds such as Fundrise Innovation Fund and ARK Innovation, reflecting strong market interest and confidence in the upcoming IPOs.
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- Massive IPO Potential: SpaceX is targeting an IPO in mid-2026 with a valuation between $1.75 trillion and $2 trillion, which, if successful, would make it the largest IPO in history, potentially reshaping market dynamics.
- Alphabet's Investment Returns: Since investing $900 million in 2015 for a 7% stake, Alphabet's holding has diluted to 6.1%, but if SpaceX reaches its target valuation, the investment could exceed $100 billion, highlighting Alphabet's strategic positioning in the space sector.
- High Exposure in Baron Partners Fund: This fund has SpaceX as its largest holding at 33%, with a minimum investment of $2,000, indicating strong investor confidence and demand for exposure to SpaceX's growth.
- Innovative Focus of ARK Venture Fund: As a public venture capital fund focused on disruptive innovation, ARK Venture Fund holds 17% in SpaceX, reflecting market recognition of its growth potential, while also noting liquidity constraints for investors.
See More
SpaceX Plans Summer IPO Valued at $1.75 Trillion
- IPO Anticipation: SpaceX is set to launch its IPO this summer with a projected valuation of $1.75 trillion, potentially the highest in IPO history, which has sparked significant investor interest and could have a major market impact.
- Alphabet Investment: Google parent Alphabet invested $900 million in SpaceX in 2015, acquiring approximately 6.11% of its shares, and if SpaceX successfully goes public, this investment could be worth around $105 billion, enhancing Alphabet's competitive edge in the AI sector.
- EchoStar Partnership: EchoStar is planning to sell spectrum licenses to SpaceX, which will result in millions of SpaceX shares for EchoStar, with the deal expected to receive regulatory approval in the first half of this year, leading to a 420% stock increase for EchoStar over the past year due to its relationship with SpaceX.
- Fund Investment Options: The Baron Partners Fund and Ark Venture Fund hold 33% and 17% of their portfolios in SpaceX, respectively, providing indirect investment opportunities for investors before the IPO, although these funds come with higher investment thresholds and lower liquidity.
See More
Alphabet's Investment in SpaceX and IPO Prospects
- Investment Background: Alphabet has invested in SpaceX since 2015 alongside Fidelity, initially contributing $900 million when SpaceX was valued at around $12 billion, holding approximately 7%, and now reduced to 6.11%, still a significant stake.
- IPO Expectations: SpaceX plans to IPO this summer with an anticipated valuation of $1.75 trillion, potentially the highest in IPO history, generating substantial investor interest, with Alphabet's investment potentially worth around $105 billion if successful.
- Partnership Dynamics: EchoStar, a key partner of SpaceX, plans to sell spectrum licenses and is expected to gain millions of SpaceX shares, with the agreement awaiting regulatory approval, and the market remains optimistic about its success.
- Investment Options: For average investors, investing in Alphabet is the best way to gain indirect exposure to SpaceX, although waiting for SpaceX's IPO is the most direct route, Alphabet's investment offers a relatively stable return potential amidst volatility.
See More
SpaceX Files for IPO, Multiple Investment Avenues Available
- Diverse Investment Opportunities: SpaceX's recent IPO filing has generated excitement among investors, who can participate through SoFi's Cosmos Fund, which focuses solely on SpaceX and is open only to accredited investors.
- ETF Investments: Cathie Wood's Ark Venture Fund currently holds a 17% position in SpaceX, reflecting strong confidence in the company and potentially enhancing the fund's overall performance.
- Crossover Investment Strategy: The ERShares Private-Public Crossover ETF allocates 27% of its portfolio to SpaceX, indicating a strategy that blends investments in both public and private companies, thereby enhancing investor diversification options.
- Indirect Investment Channels: Investors can also gain exposure to SpaceX by investing in companies like Alphabet, which owns over 6% of the company, and EchoStar, which has a pending deal that could grant it SpaceX shares pending regulatory approval.
See More
Investment Opportunities in SpaceX Ahead of IPO
- Diverse Investment Channels: Although SpaceX is not yet public, investors can access the company through SoFi's Cosmos Fund, a private equity fund exclusively for accredited investors, indicating strong market interest in SpaceX.
- Significant ETF Investment: Cathie Wood's Ark Venture Fund currently holds a 17% stake in SpaceX, while the ERShares Private-Public Crossover ETF has an even higher allocation of 27%, reflecting the funds' commitment to the company.
- Investment Management Company Involvement: Destiny Tech 100 identifies SpaceX as its largest position, accounting for 16.2% of its portfolio, further demonstrating market confidence and growth expectations for the company.
- Indirect Investment Opportunities: Investors can also gain exposure to SpaceX through companies like Alphabet, which owns over 6% of the firm, and EchoStar, which has a pending deal for shares pending regulatory approval, showcasing strategic positioning towards SpaceX.
See More
Google's Potential Windfall from SpaceX and Anthropic IPOs
- IPO Market Excitement: The initial public offerings (IPOs) of SpaceX and Anthropic are expected to generate significant investor interest in 2026, particularly with SpaceX's IPO potentially becoming the largest ever, targeting a valuation of $2 trillion.
- Google's Stake Value: Google's 6.1% stake in SpaceX and 14% stake in Anthropic are currently valued at approximately $76.3 billion and $50 billion, respectively, with a combined potential worth of $241 billion, highlighting the immense investment potential for Google in these firms.
- Significant Revenue Growth: Anthropic's annualized revenue rate has surged past $30 billion, tripling from $9 billion last year and surpassing rival OpenAI, providing strong support for its upcoming IPO.
- Retail Investor Participation: Retail investors are gaining exposure to these marquee tech companies through various funds such as Fundrise Innovation Fund and ARK Innovation, reflecting strong market interest and confidence in the upcoming IPOs.
See More
Analysis of SpaceX's IPO Prospects
- Massive IPO Potential: SpaceX is targeting an IPO in mid-2026 with a valuation between $1.75 trillion and $2 trillion, which, if successful, would make it the largest IPO in history, potentially reshaping market dynamics.
- Alphabet's Investment Returns: Since investing $900 million in 2015 for a 7% stake, Alphabet's holding has diluted to 6.1%, but if SpaceX reaches its target valuation, the investment could exceed $100 billion, highlighting Alphabet's strategic positioning in the space sector.
- High Exposure in Baron Partners Fund: This fund has SpaceX as its largest holding at 33%, with a minimum investment of $2,000, indicating strong investor confidence and demand for exposure to SpaceX's growth.
- Innovative Focus of ARK Venture Fund: As a public venture capital fund focused on disruptive innovation, ARK Venture Fund holds 17% in SpaceX, reflecting market recognition of its growth potential, while also noting liquidity constraints for investors.
See More
