r/wallstreetbets
DXYZ trading below NAV
DXYZ trades below NAV; upcoming revaluation driven by Anthropic and SpaceX valuation surges could push NAV to at least $35.
- DXYZ is currently trading below its last reported NAV of $24.56, presenting a clear discount opportunity.
- Significant valuation increases in underlying assets like Anthropic and SpaceX will substantially boost the NAV.
- Additional NAV accretion expected from cash raised via ATM offering at a premium, plus future IPO upside for other holdings.
TLDR:
\- Last NAV is $24.56 per filing on the 31st March, many thought it was 19.95 per RH interface
\- Upcoming new NAV calculated to be at least 35 (see below)
\- Next catalyst being Anthropic's public S1 filing and DXYZ's updated NAV as of 30 June 2026.
Relevant material:
\https://www.sec.gov/Archives/edgar/data/1843974/000157587226000288/dxyz100\\\_424b3.htm\
Calculations:
18.1% is Anthropic - new series H valuation 965b from 380b in feb
18.1%\24.56\(965/380-1) = $6.84
SpaceX current valuation 2trillion, was calculated as 1.25trillion in March's filing
14.5%\24.56\(2trillion/1.25trillion-1) = $2.13
$24.56+$6.84+$2.13 = $33.53
They also raised cash through ATM offering at a premium to NAV, which raised NAV further, maybe $1-$2
This brings the conservatively projected NAV to about $35. And this is not counting further OpenAI/Anthropic/Stripe/Revolut IPO upside from March
Disclosures: 200k in DXYZ at $35
This is my kind of investment. Thanks for sharing, I'll do some research to see if they'll bounce back soon.
Gay clanker
I see you are a bag holder.
There's so many bag holders for space stocks now and they all thought they were going to the moon only to get dropped on their heads
That's where people got it wrong, DXYZ is mostly AI play not juste a space proxy:
|Theme |% invested|% NAV total|
|:-|:-|:-|
|AI / Models / AI apps|\~45.6%|\~31.1%|
|Space / Aerospace|\~27.5%|\~18.7%|
|Defense / Autonomous|\~9.2%|\~6.2%|
|Fintech|\~6.0%|\~4.1%|
|Databricks / AI data infra|\~3.6%|\~2.4%|
|Consumer / Creator|\~3.1%|\~2.1%|
|Hardware / Chips|\~2.5%|\~1.7%|
|Enterprise SaaS|\~1.0%|\~0.7%|
|Cleantech / Other|\~1.5%|\~1.0%|
|Cash / money market|n/a|\~31.1%|
That's where people are wrong about DXYZ. you screen the holdings and you see it is essentially an AI fund
plenty of multi millionaires across RKLB, LUNR etc at current valuations, but yes RIP to those who bought in recently
im ok to wait this out till Anthropic's public S1 which will be very soon and likely peak hype before bubble bursts. no way it bursts before anthropic/openai ipo
They just published yesterday the Q1 NAV of $24.56 which probably helped the dump, but it's lagging, 8 August they will publish the new $35-36 NAV, and then 15 déc 2026 → IPO Anthropic (date médiane FutureSearch) Q1 2027 → OpenAI IPO (FutureSearch médiane mars 2027)
huh? the filing was in May. it dumped yesterday because of premium compression of spacex
math looks solid but you're betting on venture valuations holding up which is risky territory in current market.
math doesn't look 'solid'.
yea fair. but thats literally the point of this fund - to be at the seat of series funding without being a VC or accredited investor
Similar to VCX but look at its performance. If you read some of the Fundrise subs people are clamoring to get out.
VCX is trading significantly above NAV