You Might Already Own SpaceX — Through Google and Contrafund

June 16, 2026·3 min read

Bottom line: even if you never buy into the SpaceX IPO, you likely already have exposure through Google stock or the Fidelity Contrafund (FCNTX). So you can let go of the urge to buy it on listing day.

The most common question I get is, "What's the best way to invest in SpaceX?" But before that, let's cover the exposure many of you already hold.

First: Google (Alphabet)

Alphabet bought roughly 5 to 6% of SpaceX in 2015 for $900 million. That's exposure on its own, but there's bigger news recently.

Google just agreed to pay SpaceX about $920 million per month for AI computing capacity — one of the largest AI infrastructure deals ever announced. The contract runs from October 2026 through June 2029 and is worth roughly $30 billion total. Through it, Google gets access to approximately 110,000 Nvidia GPUs and related computing infrastructure to support its AI products, including Gemini.

Honestly, this makes me more excited as a Google shareholder than as a prospective SpaceX investor.

Second: the Fidelity Contrafund (FCNTX)

The second place you may already have exposure is the Fidelity Contrafund (FCNTX). It's one of the largest mutual fund holders of SpaceX in the country, at roughly 5.1% of the fund. If you've owned Contrafund inside your Fidelity 401k, you've effectively been long SpaceX for years.

To be clear, I'm not telling you to buy these for the SpaceX exposure. Honestly, SpaceX is such a small piece of what those are. I'm just letting you know you may already have that exposure — so you don't get the FOMO of needing to buy SpaceX by itself on listing day.

Index inclusion takes longer than you'd think

People worry a lot about SpaceX being fast-tracked into indexes. It will likely be fast-tracked into the Nasdaq 100 very quickly — we'll see whether that's a good thing or a bad thing.

The S&P 500 is a different story. According to one analysis, assuming the IPO occurs in June 2026 and SpaceX meets all profitability and float requirements, mid-2027 is the earliest realistic S&P 500 inclusion date. If earnings fall short, it could be 2028 or later.

If you hold a three- or four-fund portfolio, you'll probably get exposure to SpaceX at some point anyway. It'll be added to the Nasdaq 100 quickly, and within a year or so to things like VTI and VOO.

FAQ

Q: Do I have to buy SpaceX on its IPO day? A: In my view, no. You may already have exposure through Google or Contrafund, and if SpaceX truly merits its valuation, it'll end up in all the major indexes anyway.

Q: Should I buy Google or Contrafund just for the SpaceX exposure? A: No. SpaceX is a tiny slice of both. Treat the exposure as a bonus, not the reason.

Q: What if I want in earlier and more directly? A: Then space ETFs like XOVR, NASA (Tema), and ARKX are how I do it. But this isn't financial advice — do your own research.

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