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The Private Shares Fund (PRIVX) holds a 13.64% position in SpaceX, making SpaceX the largest holding in the Fund, with approximately $151,698,930 invested as of 12/31/2025.
The Fund provides investors with pre-IPO exposure to the company alongside a diversified portfolio of other late-stage private market companies like xAI, GrubMarket, Epic Games and Motive.
SpaceX (Space Exploration Technologies Corp.) is a privately held company and does not trade on any public stock exchange like the NYSE or Nasdaq. Historically, investing in private entities was reserved for institutional investors and high-net-worth individuals participating in private funding rounds or secondary transactions.
The Private Shares Fund (PIIVX/PRIVX) changes that. As an interval fund that invests in late-stage private companies, The Private Shares Fund holds SpaceX as the largest position in its portfolio as of 12/31/25. This allows investors to gain indirect exposure to SpaceX’s valuation and growth prior to a potential IPO — without accreditation requirements or complex private-market paperwork.
| Direct SpaceX Investment | The Private Shares Fund (PRIVX) | |
|---|---|---|
| Ticker Symbol | None (Private) | PIIVX / PRIVX / PRLVX with Daily NAV |
| Accreditation Required? | Yes | No |
| Minimum Investment | $100k - $1M+ (Secondary Markets) | $2,500** |
| SpaceX Weighting | 100% (Single Stock Risk) | 13.64% (As of 12/31/25) |
**The investment minimums are $2,500 for the Class A Share and Class L Share, and $1,000,000 for the Institutional Share
Investor interest in SpaceX is increasingly driven by the commercial potential of Starlink’s global satellite-internet network and Starship’s next-generation launch capabilities.
The Private Shares Fund provides investment exposure to these private-market growth drivers before they are reflected in public markets, allowing investors to participate earlier in the innovation lifecycle prior to public offering. Learn more about The Private Shares Fund perspective on SpaceX and the Space Economy.
Quick answers about SpaceX exposure and The Private Shares Fund.
No, SpaceX is private and does not have an official ticker symbol. To gain exposure to its valuation, investors may look to investments like The Private Shares Fund (PRIVX). Unlike individual stocks, this Fund provides a diversified portfolio of late-stage private equity companies such as SpaceX, which includes exposure to its satellite division, Starlink.
No, SpaceX is not currently a publicly traded company. However, investors can gain indirect exposure by investing in The Private Shares Fund (PRIVX). This fund holds SpaceX as its top portfolio position as of 12/31/25, allowing investors to participate in potential growth prior to an IPO. In addition, PRIVX offers a diversified portfolio of late-stage private-equity companies.
Advisors typically utilize investments such as The Private Shares Fund to avoid the administrative burden of secondary markets and to gain access to the venture capital-based private companies. The Fund trades with the ticker symbol PIIVX, PRIVX or PRLVX and is accessible in many common custodial platforms like Fidelity, Pershing and Schwab.
Investors can access the Fund through a financial advisor or on SoFi using the ticker symbols PRIVX or PRLVX. This interval fund provides a streamlined investment process, with a low $2,500 minimum investment and no complex subscription agreements or investor accreditation required.
PRIVX does not require a subscription model or investor accreditation prior to purchase. However, the Fund is intended for long-term investors who can handle the illiquidity of an interval fund.
Investing in private companies involves risks, including less public disclosure and higher volatility than public stocks. Additionally, The Private Shares Fund is an interval fund, meaning liquidity is limited to quarterly repurchase offers. There is no guarantee that SpaceX or other portfolio companies will ever complete an IPO.
Key Insight: As of 12/31/25, SpaceX remains the largest holding in The Private Shares Fund (PRIVX), representing 13.64% of the total portfolio value.
SpaceX is a privately held company that does not trade on any national securities exchange, and there is no guarantee that its shares will ever be traded on any national securities exchange.
The information provided is about one security held by the Fund. As of December 31, 2025 there were 78 holdings in the Fund. A decision to invest in the Fund should consider more factors than just one holding in its portfolio.
Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus with this and other information about The Private Shares Fund (the “Fund”), please download here, visit the Fund’s website at PrivateSharesFund.com or call 1-855-551-5510. Read the prospectus carefully before investing.
The Private Shares Fund is a closed-end interval fund. Investment in the Fund involves substantial risk. The Fund is not suitable for investors who cannot bear the risk of loss of all or part of their investment. The Fund is appropriate only for investors who can tolerate a high degree of risk and do not require a liquid investment. All investing involves risk including the possible loss of principal.
Shares in the Fund are highly illiquid, and can be sold by shareholders only in the quarterly repurchase program of the Fund which allows for up to 5% of the Fund’s outstanding shares at NAV to be redeemed each quarter. Due to transfer restrictions and the illiquid nature of the Fund’s investments, you may not be able to sell your shares when, or in the amount that, you desire. The Fund intends to primarily invest in securities of private, late stage, venture-backed growth companies.
There are significant potential risks relating to investing in such securities. Because most of the securities in which the Fund invests are not publicly traded, the Fund’s investments will be valued by Liberty Street Advisors, Inc. (the “Investment Adviser”) pursuant to fair valuation procedures and methodologies adopted by the Board of Trustees, as set forth in the prospectus. As a consequence, the value of the securities, and therefore the Fund’s Net Asset Value (NAV), may vary. There are significant potential risks associated with investing in venture capital and private equity-backed companies with complex capital structures. The Fund focuses its investments in a limited number of securities, which could subject it to greater risk than that of a larger, more varied portfolio. There is a greater focus in technology securities that could adversely affect the Fund’s performance. The Fund’s quarterly repurchase policy may require the Fund to liquidate portfolio holdings earlier than the Investment Adviser would otherwise do so and may also result in an increase in the Fund’s expense ratio. Portfolio holdings of private companies that become publicly traded likely will be subject to more volatile market fluctuations than when private, and the Fund may not be able to sell shares at favorable prices. Such companies frequently impose lock-ups that would prohibit the Fund from selling shares for a period of time after an initial public offering (IPO). Market prices of public securities held by the Fund may decline substantially before the Investment Adviser is able to sell the securities.
The Fund may invest in private securities utilizing special purpose vehicles (“SPV”s), private investments in public equity (“PIPE”) transactions where the issuer is a special purpose acquisition company (“SPAC”), and profit sharing agreements. The Fund will bear its pro rata portion of expenses on investments in SPVs or similar investment structures and will have no direct claim against underlying portfolio companies. PIPE transactions involve price risk, market risk, expense risk, and the Fund may not be able to sell the securities due to lock-ups or restrictions. Profit sharing agreements may expose the Fund to certain risks, including that the agreements could reduce the gain the Fund otherwise would have achieved on its investment, may be difficult to value and may result in contractual disputes. Certain conflicts of interest involving the Fund and its affiliates could impact the Fund’s investment returns and limit the flexibility of its investment policies. This is not a complete enumeration of the Fund’s risks. Please read the Fund prospectus for other risk factors related to the Fund.
Diversification does not assure a profit, nor does it protect against a loss.
The Fund is distributed by FORESIDE FUND SERVICES, LLC.
