Super investor Gavin Baker bets big on Elon Musk's SpaceX
Super investor Gavin Baker revealed a huge position in SpaceX, which has become the largest holding in his portfolio by a huge margin.
As of the end of Q2, Baker held 27.33 million SpaceX shares worth approximately $4.67 billion.
But the number that truly stands out is this:
This position alone accounts for about 42% of his stock portfolio.
In other words, Baker did not make a small investment here as part of broad diversification; he placed a huge portion of his capital on SpaceX.
And this is particularly interesting because of the rest of his portfolio, which continues to be highly focused on technology, chips, AI infrastructure, communications, and data centers.
Among his largest holdings are:
Micron $MU $821 million.
Cerberus $CRBS $687 million.
Astra Labs $ALAB $588 million.
Ciena $CIEN $338 million.
Credo $CRDO $307 million.
Nvidia $NVDA $250 million.
Corwave $CRWV $212 million.
But SpaceX is in a completely different league, with a position many times larger than any of the other holdings...
The options structure is also interesting,
Baker holds approximately $2.36 billion in puts on Invesco QQQ $QQQ, alongside significant calls on Meta $META and Cerberus $CBRS.
On one hand, he holds a very large defensive position against a Nasdaq decline, and on the other hand, he holds a very aggressive exposure to companies he believes will benefit from continued investments in infrastructure and artificial intelligence.
But above all, the main point of the report is SpaceX.
A position of approximately $4.67 billion is not just another holding in the portfolio; it is a very significant statement about where Baker sees Elon Musk's company.