Cathie Wood just doubled down on rockets. ARK Invest purchased 3,291,184 shares of SpaceX, further cementing the Elon Musk-founded company as the single largest position in the ARK Venture Fund.
The buy comes at a particularly interesting moment. SpaceX filed a confidential draft S-1 on April 1, preparing for what could be the most anticipated IPO in recent memory, with the company targeting a Nasdaq debut and a valuation that would make most publicly traded companies look like lemonade stands.
The scale of the bet
SpaceX already represented 11.38% of ARK Venture Fund’s net assets as of May 31. That figure was even higher earlier this year, at 17.02% as of March 31, suggesting either some rebalancing occurred or other holdings grew relative to the position.
ARK first entered SpaceX in late 2023, back when the company’s valuation sat below $200 billion. The fund increased its stake throughout 2025 and picked up additional exposure through SpaceX’s merger with xAI in early 2026. By 2024, SpaceX’s valuation had already climbed to $350 billion, and the trajectory since then has been nothing short of vertical.
