Intesa Sanpaolo holds $966 million stake in SpaceX

Intesa Sanpaolo held a SpaceX stake valued at approximately $966 million as of the end of June, according to regulatory filings submitted to the U.S. Securities and Exchange Commission (SEC). The Italian bank owned roughly 5.66 million shares, making it the largest single position in its U.S. equity portfolio.

The investment, which dates back to 2023 before SpaceX’s major initial public offering in June, accounted for about 33 percent of the bank’s total U.S. stock portfolio, which was valued at approximately $2.92 billion. Other significant holdings in the bank’s U.S. portfolio included AstraZeneca and Nvidia.

While the market value of the stake has fluctuated—dropping to an estimated $809 million following a recent decline in SpaceX’s share price—the position remains a highly concentrated and strategic component of the bank’s exposure to the aerospace and technology sectors.