The case for
Cost per kilogram has fallen by more than an order of magnitude and keeps falling. Once launch is routine the value moves to payloads: connectivity, imaging and defence bought on long government contracts.
Launch becomes cheap and routine enough that orbit turns into infrastructure rather than an event.
Universe v1 (assumed — this link predates the field)· No stated date on this link
Every holding, and why it is that size
Restore the book26.8%Lockheed Martin
Space revenue attached to a business that survives a slow decade.
LMT · Equity · $91.81 · $599B · Orbital logistics
−+×23.5%Iridium Communications
An operating constellation with real cash flow today.
IRDM · Equity · $1199.14 · $50B · Orbital logistics
−+×22.2%Intuitive Machines
Lunar delivery contracts, dependent on one customer.
LUNR · Equity · $95.13 · $30B · Orbital logistics
−+×17.5%Space Exploration ETF
Diversification where single-name failure is common.
ARKX · ETF · $791.68 · $18B · Orbital logistics
−+×10%0–3 Month Treasury Bill ETF
Cash that still earns while the thesis is early.
SGOV · Treasury · $161.00 · $106B · Ballast
The case against
The dominant launch provider is private, so public exposure is second-best by construction. Most listed names are pre-revenue, and a single failure resets a company by years.
What the weights are worth
Percentages, converted. Nothing is sent anywhere.
Enter an amount to see what each weight is worth. It stays in this browser.
This book has an address
Anyone who opens it rebuilds the same book, weight for weight.
igitur.xyz/b/launch-becomes-cheap-and-routine-enough-ka4o9c