As Space Exploration Technologies Corp. (NASDAQ: SPCX) stock neared its IPO (initial public offering) price on August 12, Norway’s Government Pension Fund Global (GPFG), which is managed by Norges Bank Investment Management (NBIM), disclosed a stake in SpaceX on Tuesday.
GPFG revealed that it held 0.05% of SpaceX stock, valued at about $1,227,417,234, as of Jun 30, 2026, according to its semi-annual report. Since SpaceX’s price closed on June 30 trading at around $170.86, GPFG holds approximately 6.59 million shares.
As a result, this fund has a reported voting power of 0.01% at SpaceX. In comparison, Norway’s $2.3 trillion sovereign fund owns 1.28% of Corp. (NASDAQ: NVDA), 1.24% of Apple Inc. (NASDAQ: AAPL), 1.17% of Alphabet (NASDAQ: GOOGL), 1.27% of Microsoft Corp. (NASDAQ: MSFT), and 1.7% of Taiwan Semiconductor Manufacturing Company Limited (NYSE: TSM).
As such, the fund posted a record $184.3 billion profit in the first half of 2026, driven largely by Asian technology stocks and chipmakers. With GPFG’s top 10 holdings representing nearly 20% of the portfolio, CEO Nicolai Tangen highlighted a growing concern.
SpaceX stock price outlook
After hitting an all-time low (ATL) of about $105 earlier this month, SPCX stock price has rallied over 17%, trading at roughly $133.3 at the time of reporting. Consequently, SpaceX has a market capitalization of $1.8 trillion.
GPFG’s 0.05% stake in SpaceX could play a crucial role in boosting its future profits. Moreover, 31 Wall Street analysts have set an average 12-month price target of $231.15, representing a possible 73.41% upside, as Finbold explained.
Furthermore, SpaceX is a growth-focused company prioritizing reinvestment in Starship, Starlink expansion, and AI integration. As such, GPFG stands to benefit from SpaceX’s future growth prospects.
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