SpaceX Is Now Public. Here’s How to Invest Through Mutual Funds and ETFs.

SPCX closed up 19% on day one. You missed the IPO price — but you didn’t miss the story. Here are six funds that own SpaceX right now, updated as of June 13, 2026, with the CPA take on what each one actually costs you.

Quick Answer: SpaceX (SPCX) went public on June 12, 2026 at an IPO price of $135, opened at $150, hit a day high of $176.52, and closed at $160.95 — up 19% on day one. If you didn’t get IPO shares (you almost certainly didn’t), you can still own SpaceX today through six mutual funds and ETFs that already hold it as a top position. This post breaks down each one, what they actually cost, and what a CPA thinks you need to know before buying.

What Just Happened — and Why It’s Not Too Late JUNE 12 RECAP

SpaceX completed its Nasdaq debut on June 12, 2026 — the largest IPO in Wall Street history. The company raised $75 billion selling more than 555 million shares at $135 per share, shattering Saudi Aramco’s 2019 record. COO Gwynne Shotwell rang the bell at Nasdaq MarketSite in Times Square while Starbase in Texas held a simultaneous ceremony.

The stock opened at $150 — an 11% premium to the IPO price — ran as high as $176.52 intraday, and closed at $160.95, up 19.2%. Post-market trading pushed it to $166.76 as of 6:30 PM ET. SpaceX finished the day valued above $2 trillion, instantly among the most valuable publicly listed companies in the world.

Here is what this means for average investors: almost none of that first-day gain was accessible at the $135 offer price. That price went to institutional investors and favored brokerage clients. If you bought at the $150 open, you were already paying an 11% premium before commissions. The investors who profited at the IPO price were the ones who held SpaceX before June 12 — through the funds listed below.

The good news: the story is not over. Index inclusion is still ahead. The Nasdaq Fast Entry rule allows SPCX to enter the Nasdaq-100 after just 15 trading days. Analysts estimate that will force $22 to $27 billion in passive index fund buying — mechanical demand that has nothing to do with valuation opinions and hasn’t happened yet. The funds below are already positioned for it.

⚠ Warning: SPCX closed at $160.95 on June 12. Buying any of these funds today means your SpaceX exposure is priced at the public market close, not the $135 institutional offer price. The pre-IPO advantage belongs to fund holders who were already in. Know what price you are entering at.

Six Funds That Own SpaceX Right Now THE OPTIONS

Listed from highest SpaceX concentration to lowest. The funds that held SpaceX before June 12 already captured the IPO day NAV gain — confirmed by Morningstar. The question now is whether you want in at today’s price.

1

Baron Partners Fund (BPTRX) — Mutual Fund

SpaceX allocation: ~23% entering IPO day (down from ~31.7% in early May after $3.8B in inflows)

This is the highest-conviction single-fund bet on SpaceX available to retail investors. Baron Capital founder Ron Baron first established a position in 2017 when SpaceX was valued at roughly $20 billion. He never trimmed. Today SpaceX is the fund’s largest holding, with Tesla at roughly 19% as the second-largest — making BPTRX effectively a two-stock Elon Musk portfolio with some diversification around the edges.

According to Morningstar, BPTRX entered June with a 23% SpaceX weight and received approximately $1.8 billion in inflows through June 11 alone, which likely diluted that percentage further. The flood of retail money chasing the pre-IPO narrative is a feature worth understanding: Baron’s SpaceX position is fixed in dollar terms, so every new dollar in dilutes the weight. What makes Baron stand out in dollar terms is its cost basis — as of March 31, 2026, the fund’s SpaceX stake carried a cost basis of roughly $110 million against a fair value of nearly $4 billion. That is the compounding of a 2017 entry price doing its work.

Specs: approximately $10–12 billion in AUM (surging with inflows), launched January 1992, expense ratio 1.91%, leveraged at 113.4% of net assets as of March 31, 2026. Morningstar does not recommend it for most investors.

Who this is for: Investors who want the most concentrated fund exposure to SpaceX and are comfortable with heavy Elon Musk concentration, leverage, and a 1.91% annual cost drag.

2

ERShares Private-Public Crossover ETF (XOVR) — ETF

SpaceX allocation: ~13% as of early June 2026 (peaked ~23% in May before fund AUM grew)

XOVR is the first ETF ever to hold a private company and the most recognizable pre-IPO SpaceX vehicle available on an exchange. It held SpaceX through a special-purpose vehicle structure — meaning the position does not convert into distributable SPCX shares; investors exit by selling the ETF itself. Now that SPCX is public, SpaceX transitions from a Level 3 private asset to a publicly priced holding, which removes the valuation opacity that made pre-IPO NAV comparisons difficult.

One important context: XOVR was down approximately 2% year-to-date heading into IPO week while the S&P 500 was up roughly 9.7%. The Level 3 accounting lag — where the private SpaceX stake was estimated rather than market-priced — suppressed NAV gains even as SpaceX’s private market value rose. That lag ended June 12. Worth noting: XOVR completed a one-time NAV adjustment in February 2026 related to the conversion of legacy private-asset structures; investors should review the fund’s disclosure on this before buying.

The prospectus expense ratio is 0.75%, though some data providers report an all-in cost of approximately 1.81% when all fees are included. See the CPA Insight below.

Who this is for: Investors who want an exchange-traded SpaceX position with daily liquidity, and who are comfortable holding a VC-growth ETF rather than a pure space fund.

3

Tema Space Innovators ETF (NASA) — ETF

SpaceX allocation: ~9.4% entering IPO day (via SPV, carried near offer price of $135)

NASA is one of the most remarkable ETF launch stories in recent memory. It debuted in late March 2026, crossed $1 billion in assets in just 37 trading days, and held $2.58 billion by end of May — an extraordinary ascent. Since launch, the fund gained approximately 53%, outperforming UFO (+37%), ROKT (+26%), and ARKX (+23%). The fund held SpaceX at approximately 9.4% of NAV entering IPO day through an SPV, which it marked up from $127 to $135 on June 10. Because the fund was already carrying SpaceX near the offer price, the IPO-day pop delivered only a modest NAV benefit compared to BPTRX, which had carried SpaceX at a lower internal mark for longer.

NASA is a pure-play space economy ETF. Now that SPCX is public, the fund holds it directly alongside satellite operators, launch services, and space infrastructure companies. Expense ratio: 0.75%.

Who this is for: Investors who want a diversified space economy ETF with SpaceX as the anchor, at the lowest expense ratio on this list.

4

Procure Space ETF (UFO) — ETF

SpaceX allocation: Post-IPO addition in progress; broad space economy exposure today

UFO is the original space-focused ETF, covering satellite communications, launch services, and space infrastructure. It crossed $1 billion in assets in late May 2026 and gained approximately 37% since NASA’s launch — not as fast, but with a longer track record and broader mandate. UFO did not hold SpaceX in the pre-IPO private market, but is expected to add SPCX to its holdings under its space economy mandate now that the stock is publicly traded. Expense ratio: 0.75%.

UFO gives you the commercial space trade broadly — companies that supply, enable, and benefit from SpaceX’s growth even if SPCX itself pulls back from its first-day close.

Who this is for: Investors who want space sector diversification without full dependence on SPCX’s performance, at a reasonable cost.

5

Fidelity Contrafund (FCNTX) — Mutual Fund

SpaceX allocation: ~4.7% of NAV as of April 30, 2026 — the largest dollar position of any fund at ~$8.05 billion

This is the option for investors who want SpaceX exposure without concentration risk. Fidelity Contrafund, managed by William Danoff, is one of the largest actively managed mutual funds in the world at roughly $177 billion in assets. SpaceX represented approximately 4.7% of NAV as of April 30, 2026 — modest as a percentage, but the largest single SpaceX dollar position of any fund on this list at approximately $8.05 billion across share classes. Fidelity also holds SpaceX in Blue Chip Growth Fund (3.3% of NAV) and Growth Company Fund (2.6% of NAV).

FCNTX’s expense ratio is 0.74% and the fund carries a Zacks Rank #1 with strong long-term returns. For investors who already hold Fidelity funds or want broad diversified growth exposure with SpaceX as one meaningful slice, this is the most accessible mainstream option.

Who this is for: Mainstream investors who want SpaceX exposure inside a large, diversified, professionally managed fund without committing the entire portfolio to concentration risk.

6

ARK Space Exploration ETF (ARKX) — ETF

SpaceX allocation: Building post-IPO; ARK Venture Fund held ~13.76% in SpaceX as of April 2026

Cathie Wood’s ARK Invest held SpaceX at approximately 13.76% of the private ARK Venture Fund as of April 2026. ARKX — the publicly traded ARK Space Exploration ETF — is expected to establish a direct SPCX position following the listing. Since NASA’s March launch, ARKX gained approximately 23%, lagging both NASA and UFO but with a broader innovation mandate beyond space. ARK Venture Fund carries a 2.90% management fee; ARKX is 0.75%.

Who this is for: Existing ARK investors and those who want space innovation exposure while ARK builds its public SPCX position.

⚠ Warning: BPTRX holds roughly 23% SpaceX and 19% Tesla. If you also own Tesla individually, plus QQQ (which will add SPCX after index entry), you could end up with four or five separate layers of Elon Musk company exposure. That is concentration dressed as diversification. Audit your full portfolio before adding any fund from this list.

Side-by-Side Comparison COMPARE

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Fund	Type	SpaceX %	Expense Ratio	Held Pre-IPO?
BPTRX	Mutual Fund	~23%	1.91%	✓ Yes (since 2017)
XOVR	ETF	~13%	0.75%*	✓ Yes (via SPV)
NASA	ETF	~9.4%	0.75%	✓ Yes (via SPV)
UFO	ETF	Adding now	0.75%	No (adding post-IPO)
FCNTX	Mutual Fund	~4.7%	0.74%	✓ Yes ($8.05B position)
ARKX	ETF	Building	0.75%	No (building post-IPO)

Data as of June 12–13, 2026. Allocations subject to change. *XOVR net expense ratio 0.75%; some data providers report total all-in cost ~1.81% — always verify in the fund’s current prospectus. BPTRX’s SpaceX weight entering IPO day was ~23% after significant inflow dilution from ~31.7% in early May.

⚠ Warning: The funds that held SpaceX before June 12 already captured the IPO-day NAV gain. Buying these funds today means your entry reflects a $160.95 close on SPCX — not the $135 institutional offer price. That pre-IPO advantage is priced in.

CPA Insight: Two Tax Events Coming — Are You Ready?

Event 1 — BPTRX capital gains distribution: Mutual fund investors get a tax bill whether they sell or not. When Baron Partners converts or rebalances its SpaceX position after the IPO — moving from a private valuation to publicly traded shares — any realized gain is distributed to all shareholders as a taxable capital gains event, even if you never touched your shares. Baron’s SpaceX stake had a cost basis of roughly $110 million and a fair value of nearly $4 billion as of March 31, 2026. The potential gain on conversion is enormous. If you hold BPTRX in a taxable brokerage account, watch year-end distribution dates carefully. A Roth IRA or 401(k) is a meaningfully better home for this fund from a tax standpoint.

Event 2 — Nasdaq-100 forced buying: When SPCX qualifies for the Nasdaq-100 under the 15-day Fast Entry rule — likely late June to early July 2026 — every index fund tracking that benchmark must buy shares in proportion to its weight. Analysts estimate $22 to $27 billion in forced mechanical buying. This is not a valuation call — it is index mechanics. It benefits anyone already holding SPCX or funds that own it. It is a one-time event, not a permanent tailwind.

The expense ratio trap for XOVR: XOVR’s prospectus states a 0.75% net expense ratio, but some data providers report a total all-in cost closer to 1.81%. On a $10,000 investment: 0.75% = $75/year; 1.81% = $181/year. That $106 annual gap compounds meaningfully over a 10–20 year hold. Always check the fund’s gross expense ratio in the current prospectus before buying.

What Happens Next — The Index Inclusion Catalyst WHAT’S AHEAD

The IPO is done. The next catalyst is index inclusion. Under the revised Nasdaq Fast Entry rule, a newly listed company in the top 40 by market cap can enter the Nasdaq-100 after just 15 trading days. SpaceX at over $2 trillion qualifies by a wide margin — putting the likely inclusion window in late June to early July 2026.

When inclusion happens, every fund tracking the Nasdaq-100 — including QQQ with roughly $300 billion in assets — must buy SPCX proportionally to its index weight. Analysts estimate $22 to $27 billion in forced passive buying. Markets historically front-run these events, meaning a portion of the anticipated price move may already be baked into current levels. Still, the mechanical buying wave is real, and all six funds on this list either already own SPCX or are building their positions ahead of it.

⚠ Warning: Index inclusion creates a one-time mechanical buying surge. Do not buy any of these funds solely because of the index trade. Evaluate them as long-term holdings on their own merits. The mechanical wave is a bonus, not an investment thesis.

Three Things to Avoid Right Now WATCH OUT

1Buying SPCX with a market order at current prices.

SPCX closed at $160.95 on day one after opening at $150. Investors who bought at the open were already paying an 11% premium over the institutional price. High-hype IPOs commonly retrace 20 to 40 percent in the first 90 days before finding a base. If you want to own SPCX directly, use a limit order and give it 30 to 90 days. Never use a market order in the days immediately following an IPO.

2Stacking Elon Musk exposure without realizing it.

BPTRX holds ~23% SpaceX and ~19% Tesla. FCNTX holds SpaceX. QQQ will hold SpaceX post-index-entry. If you own Tesla individually on top of any of these, you could easily end up with four or five separate layers of Musk company exposure. That is not diversification. Audit your entire portfolio before adding anything from this list.

3Letting FOMO drive the allocation size.

SpaceX is an extraordinary company. That does not make these funds appropriate at any price or in any size. SPCX at $160+ is priced for years of aggressive growth. A 5 to 10 percent allocation to one of these funds is a reasonable satellite position. Putting a quarter of your investable assets into BPTRX because you are excited about rockets is a different decision entirely — and one that does not belong in a long-term personal finance portfolio. BPTRX’s 1.91% annual fee on a $10,000 investment costs $191 per year. Over 20 years at 7% gross return, the cost difference versus a 0.10% index fund is roughly $18,000 on that same $10,000.

⚠ Warning: SpaceX at $160.95 is priced for perfection. Buying any fund whose largest holding trades at 100+ times trailing revenue carries real downside if the growth story stumbles. Size accordingly.

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About the author: Jenny is a CPA with experience in the wealth and asset management industry, valuation, and financial reporting. She writes about practical investing strategies, tax optimization, and long-term wealth building.

Disclaimer: This content is for educational purposes only and not financial advice. The author is a CPA and not a registered investment adviser. CPA credentials relate to accounting and tax matters only. Nothing in this post constitutes advice from a licensed investment professional. Fund allocations, expense ratios, and market data are based on publicly available information as of June 12–13, 2026 and are subject to change. Always consult a qualified investment professional before making investment decisions.