State of Michigan Retirement System 13F: New $104M Stake in SPCX
Key Points
- The State of Michigan Retirement System's new stake in SPCX represents about 0.94% of its total reported 13F value of $11.02 billion.
- State of Michigan Retirement System held 689,800 $SPCX shares at quarter end, all of it a new position.
- The stock closed at $148.58 on October 27, 2026, and recently traded around $148.59, which is about equal to its closing price on that date.
- Space Exploration Technologies Corp. reported trailing twelve-month revenue of $32.04 billion, with a year-over-year revenue growth of 161.4%.
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The State of Michigan Retirement System took a new position in Space Exploration Technologies Corp. (SPCX) on October 27, 2026, acquiring 689,800 shares valued at $104,063,228. This information comes from the fund's latest Form 13F filing with the SEC.
SPCX
Space Exploration Technologies Corp.
What Changed in State of Michigan Retirement System's Position
In its latest filing, the State of Michigan Retirement System reported holding 689,800 shares of SPCX, a new position for the fund. This stake represents a significant investment, accounting for 0.94% of the fund's total reported value of approximately $11.02 billion.
Where SPCX Fits in State of Michigan Retirement System's Portfolio
SPCX ranks 24th among the 966 positions in the State of Michigan Retirement System's portfolio.
Other Institutional Activity in SPCX
Several other funds have also adjusted their positions in Space Exploration Technologies Corp. Chicago Partners Investment Group increased its stake by 97,351 shares, bringing its total to 107,631 shares valued at about $15.87 million. Asset Management One boosted its holdings by 42,773 shares, totaling 237,768 shares worth approximately $35.87 million.
Space Exploration Technologies Corp. Stock Up 0.7%
SPCX closed at $148.58 on October 27, 2026, and recently traded around $148.59. The stock is currently below its 50-day moving average by about 0.5% but above its 200-day average by about 1.9%. The shares are also 34.1% below their 52-week high of $225.64, yet 41.7% above their 52-week low of $104.83.
Recent Earnings
Space Exploration Technologies Corp. reported trailing twelve-month revenue of $32.04 billion, reflecting a strong year-over-year revenue growth of 161.4%. The next earnings report is scheduled for February 9, 2027.
Insider Buying and Selling at Space Exploration Technologies Corp.
Insider trading activity includes sales by Elon Musk, the CEO, who sold 11,390 shares on April 2, 2026, valued at approximately $1,199,572. Additionally, President Gwynne E. Shotwell sold 342,170 shares on September 22, 2026, valued at about $52.55 million.
Analysts Set New Price Targets
On October 21, 2026, firms including Macquarie, UBS, and Citigroup maintained their ratings on SPCX, with targets ranging from $230 to $275. The consensus recommendation for the stock remains a "buy," with a mean price target of approximately $256.59 based on 36 analyst opinions.
About Space Exploration Technologies Corp.
Space Exploration Technologies Corp., commonly known as SpaceX, provides satellite-based broadband services and designs reusable rockets for access to space. The company operates within the aerospace and defense industry and is headquartered in Starbase, Texas.
Bottom Line
Investors should keep an eye on SPCX as it approaches its next earnings date on February 9, 2027. The recent filing by the State of Michigan Retirement System highlights its growing interest in this innovative company, which continues to expand its market presence.
Related Filing Alerts
Source: State of Michigan Retirement System's 13F filing on $SPCX (Oct 27, 2026). 13F filings show holdings as of the end of the reporting quarter and may not reflect the fund's current position. Written by software, not financial advice. How we make alerts