Retail investors flocked to Space Exploration Technologies (NASDAQ: SPCX), better known as SpaceX, after its initial public offering (IPO) in June. However, some institutional investors also bought the artificial intelligence and space stock. Billionaire Israel "Izzy" Englander was one of them.
Englander's Millennium Management loaded up on SpaceX in the second quarter of 2026. Notably, the hedge fund purchased over 17.6 million shares before SpaceX's first lockup expiration on Aug. 6. Many viewed this lockup expiration as a reason to avoid the stock, at least temporarily.
Does Englander know something that most investors don't? This Rare Signal Is Flashing Again. In 2009, a "Double Down" signal flashed for a little-known chipmaker called Nvidia.
For the first time in years, that same "Total Conviction" signal is flashing for a company 1/100th the size of Nvidia. Continue » We don't know exactly when Englander bought shares of SpaceX. However, I'd wager that he began buying days after the space technology company's record-setting IPO when its stock plunged more than 20%.
Initiating a stake in SpaceX in late June might seem like a questionable decision, given the downward pressure on the stock that many expected when insiders began selling their shares. In retrospect, Englander's decision to buy SpaceX could appear to be a poor one, with shares down a double-digit percentage since the end of Q2. Does the billionaire have inside information about SpaceX that isn't publicly available?
There's absolutely no reason to think so. He is, though, an astute evaluator of businesses' growth prospects. You could argue that his track record of success reflects that he indeed does have greater knowledge than the average investor.
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