SpaceX Allocation More Than Doubles in UFO ETF

The Procure Space ETF (UFO) , which tracks the VettaFi Space Index (SPACE), has recently seen a dramatic shift in its portfolio weighting in the vaunted space giant. The fund has more than doubled its exposure since the middle of June. Key Takeaways: UFO dramatically increased its allocation to SpaceX following its historic public debut, elevating the company to its top holding. SpaceX's rapidly expanding commercial revenue, Starlink growth, and multi-billion-dollar backlog accelerated its weight within the fund to nearly 15% of the portfolio. While maintaining high-conviction exposure to SpaceX, UFO leverages a modified market-cap weighting strategy to deliver broad thematic access across the broader space infrastructure, satellite, and defense supply chain. When the fund added SpaceX to the UFO portfolio during its June 16, 2026 rebalance, it entered as a prominent new addition at a 6.08% weight. Over the summer, rapid appreciation and fundamental momentum drove SpaceX's portfolio weight to 14.87% as of today (September 22, 2026), following its rebalance the previous week. This surge nearly tripled its relative allocation within the fund, making it UFO's largest single holding by a wide margin. Its allocation is about three times as much as other key industry players within the portfolio like Rocket Lab (5.24%), EchoStar (4.82%), AST SpaceMobile (4.80%), and Garmin (4.78%). This allocation expansion reflects SpaceX’s accelerating commercial dominance as seen in its first earnings release as a public company. In its Q2 2026 earnings report, SpaceX reported revenue of $7.8 billion (up 92% year over year) and adjusted EBITDA of $3.5 billion (up 191%). Growth was propelled by a doubling of Starlink subscribers, expanding enterprise, and government connectivity revenue. Additionally, SpaceX saw over $14.1 billion in new cloud and AI services agreements, which fortified its status as a multi-dimensional company with varying avenues for revenue outside of launching rockets. Additionally, with $100 billion in cash reserves and a $47.5 billion order backlog, SpaceX’s extreme vertical integration across launch, satellite broadband, and space infrastructure has made it a major player in the commercial space industry. Ecosystem Exposure Beyond SpaceX While upside in SpaceX can provide tailwinds for UFO, the ETF’s modified market-cap methodology ensures investors are not relying on a single company alone to propel its returns. Space commercialization requires a vast, interconnected ecosystem that spans rocket and satellite manufacturing, satellite telecommunications, space-based imagery, intelligence services, and ground equipment manufacturing. For investors seeking comprehensive thematic exposure , UFO provides an efficient vehicle that couples core pure-play dominance with broad supply-chain diversification across its global holdings. By combining a high-conviction allocation to SpaceX with diversified exposure to satellite hardware, defense technology, and orbital connectivity, UFO stands out as a timely and comprehensive solution for participating in the growing space economy.