Key Takeaways
- • Canada's Public Sector Pension Investment Board (PSP Investments) disclosed a first position in SpaceX, holding 100,000 shares as of June 30, according to a filing reported by Bloomberg and made public on August 13.
- • Ontario Teachers' Pension Plan held about 50.7 million SpaceX shares valued at US$8.7 billion as of the same date, per public filings and Bloomberg data compiled.
- • SpaceX completed the largest IPO on record in June and closed its first trading day worth more than US$2 trillion, though shares have since fallen from that peak.
- • PSP, which manages $321 billion for federal public servants, did not disclose its entry price or rationale for the position.
Summary
Canada's Public Sector Pension Investment Board has disclosed its first position in Elon Musk's SpaceX, making it one of two large Canadian pension managers now holding shares in the rocket and satellite company following its record public debut. According to a filing reported by Bloomberg and made public on August 13, PSP Investments held 100,000 SpaceX shares as of June 30. The fund, which manages $321 billion for federal public servants, including the military and the Royal Canadian Mounted Police, did not disclose its entry price or the reasoning behind the position.
Ontario Teachers' Pension Plan, another of the so-called Maple Eight Canadian pension managers, held about 50.7 million SpaceX shares valued at US$8.7 billion as of the same date, according to public filings and data compiled by Bloomberg. The two disclosures reflect markedly different levels of conviction: a starter position for PSP compared with a multibillion-dollar holding for Teachers'.
SpaceX completed the largest initial public offering on record in June and closed its first trading day worth more than US$2 trillion, according to Bloomberg, although the shares have since declined from that peak. The listing transformed a company previously accessible only through private secondary sales into a public equity that pension funds, sovereign funds and index providers all had to evaluate.
The article also notes broader pressure from the same theme. Public-market funds have shifted toward technology names such as SpaceX, whose AI segment houses Musk's Grok model. On the private side, La Caisse said AI-related themes pushed down valuation multiples for private equity holdings in AI-exposed sectors, weighing on its first-half marks. PwC's mid-year insurance deals outlook, published in June, said uncertainty over AI-driven disruption had lowered publicly traded broker valuations, a point Mark Friedman, PwC's insurance deals leader, linked to AI and slowing organic growth.
Ontario Teachers' Pension Plan, another of the so-called Maple Eight Canadian pension managers, held about 50.7 million SpaceX shares valued at US$8.7 billion as of the same date, according to public filings and data compiled by Bloomberg. The two disclosures reflect markedly different levels of conviction: a starter position for PSP compared with a multibillion-dollar holding for Teachers'.
SpaceX completed the largest initial public offering on record in June and closed its first trading day worth more than US$2 trillion, according to Bloomberg, although the shares have since declined from that peak. The listing transformed a company previously accessible only through private secondary sales into a public equity that pension funds, sovereign funds and index providers all had to evaluate.
The article also notes broader pressure from the same theme. Public-market funds have shifted toward technology names such as SpaceX, whose AI segment houses Musk's Grok model. On the private side, La Caisse said AI-related themes pushed down valuation multiples for private equity holdings in AI-exposed sectors, weighing on its first-half marks. PwC's mid-year insurance deals outlook, published in June, said uncertainty over AI-driven disruption had lowered publicly traded broker valuations, a point Mark Friedman, PwC's insurance deals leader, linked to AI and slowing organic growth.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.