Just found this thread! Thank @Nocturnal for introducing!
I have invested $500k into SpaceX in 2020. Now looking to put in $5m, anyone knows a seller?
I have invested $500k into SpaceX in 2020. Now looking to put in $5m, anyone knows a seller?
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CW would have the inside scoop! I bet you are correct, Starlink soon and hopefully they have access SpaceX.
Nikxice
Active Member
I own both ARKK and ARKQ, but also won't be investing in ARKX. Just don't think it's in the same league. Not owning best of breed SpaceX creates a void. I'll always view ARKX as an ARKK without TSLA. A future large ARKX investment in a Starlink IPO could change my opinion, but I might be more inclined to skip the ETF and directly purchase Starlink stock.
Not sure if it has been disclosed yet the planned percentage of SPCE inside this new ETF. I suppose some investors have the perception that SPCE is a qualified substitute for SpaceX. Quite puzzling. SPCE is growing all too slowly. Realizing a profit appears lightyears away. SPCE can never compromise passenger safety and will have to produce a spotless record or else the stock will get torched. The SPCE CEO is a former Disney executive. I'd prefer the guy have some background in engineering, but perhaps overseeing Space Mountain checks that box.
Having read the prospectus, it is both specific and vague and wide reaching on what can be in the ARKX it seems,
(although I have not a lot of experience reading prospecti)
I copied what to me looks salient. it seems to say more or less,
we will invest in Space stuff and space related stuff at our sole discretion, oh, and tech stuff and anything and everything else related to space stuff somewhere vaguely around 50 companies
basically anything on the planet that looks interesting (foreign exchanges too!)
looks pretty open ended to me.
(i highlighted parts interesting to me)
(I would dearly love to know why I am wrong or misreading it)
https://sec.report/Document/0001104659-21-003837/
-----------------------snip-----------------------------------
Principal Investment Strategies
The Fund is an actively-managed exchange-traded fund (“ETF”) that will invest under normal circumstances primarily (at least 80% of its assets) in domestic and foreign equity securities of companies that are engaged in the Fund’s investment theme of Space Exploration and innovation.
The Adviser defines “Space Exploration” as leading, enabling, or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth.
In selecting companies that the Adviser believes are engaged in the theme of Space Exploration (“Space Exploration Companies”), the Adviser seeks to identify, using its own internal research and analysis, companies capitalizing on disruptive innovation. The Adviser defines “disruptive innovation” as the introduction of a technologically enabled new product or service that the Adviser expects to change an industry landscape. The Adviser’s internal research and analysis leverages insights from diverse sources, including external research, to develop and refine its investment themes and identify and take advantage of trends that have ramifications for individual companies or entire industries.
The Adviser believes that Space Exploration Companies can be grouped into four overarching categories, each of which contains relevant sub-elements.
1) Orbital Aerospace Companies are companies that launch, make, service, or operate platforms in the orbital space, including satellites and launch vehicles.
2) Suborbital Aerospace Companies are companies that launch, make, service, or operate platforms in the suborbital space, including drones, air taxis and electric aviation vehicles.
3) Enabling Technologies Companies are companies that create the technologies required for successful value-add aerospace operations, including artificial intelligence, robotics, 3D printing, materials and energy storage.
4) Aerospace Beneficiary Companies are companies that stand to benefit from aerospace activities, including agriculture, internet access, global positioning system (GPS), construction and imaging.
Space exploration is possible due to the convergence of a number of themes, and a Space Exploration Company may not currently derive any revenue, and there is no assurance that such company will derive any revenue from innovative technologies in the future.
The Adviser will select investments for the Fund that represent the Adviser’s highest-conviction investment ideas within the theme of Space Exploration, i.e., investment decisions regarded with confidence, in constructing the Fund’s portfolio.
The Adviser will analyze potential investments by using both “top down” information (e.g., economy-wide analysis of facts such as rate of growth, cost declines, unit economics, sizing of markets, and price levels as well as business and technology cycle trends) and “bottom up” criteria (e.g., fundamental and quantitative metrics for individual companies such as their revenue growth, profitability and return on invested capital). Based upon its research and analysis,
The Adviser will select a portfolio company that it believes presents the best risk-reward opportunities. [In both the Adviser’s “top down” and “bottom up” approaches, the Adviser evaluates environmental, social, and governance (“ESG”) considerations. In its “top down” approach, the Adviser uses the framework of the United Nations Sustainable Development Goals to integrate ESG considerations into its research and investment process.
The Adviser, however, does not use ESG considerations to limit, restrict or otherwise exclude companies or sectors from the Fund’s investment universe. In its “bottom up” approach, the Adviser makes its investment decisions primarily based on its analysis of the potential of individual companies, while integrating ESG considerations into that process.
The Adviser’s highest-conviction investment ideas are those that it believes present the best risk-reward opportunities.]
Under normal circumstances, substantially all of the Fund’s assets will be invested in equity securities, including common stocks, partnership interests, business trust shares and other equity investments or ownership interests in business enterprises.
The Fund’s investments will include micro-, small-, medium- and large-capitalization companies.
The Fund’s investments in foreign equity securities will be in both developed and emerging markets.
The Fund may invest in foreign securities (including investments in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and securities listed on local foreign exchanges.
--------------------------snip------------------------------------
(although I have not a lot of experience reading prospecti)
I copied what to me looks salient. it seems to say more or less,
we will invest in Space stuff and space related stuff at our sole discretion, oh, and tech stuff and anything and everything else related to space stuff somewhere vaguely around 50 companies
basically anything on the planet that looks interesting (foreign exchanges too!)
looks pretty open ended to me.
(i highlighted parts interesting to me)
(I would dearly love to know why I am wrong or misreading it)
https://sec.report/Document/0001104659-21-003837/
-----------------------snip-----------------------------------
Principal Investment Strategies
The Fund is an actively-managed exchange-traded fund (“ETF”) that will invest under normal circumstances primarily (at least 80% of its assets) in domestic and foreign equity securities of companies that are engaged in the Fund’s investment theme of Space Exploration and innovation.
The Adviser defines “Space Exploration” as leading, enabling, or benefitting from technologically enabled products and/or services that occur beyond the surface of the Earth.
In selecting companies that the Adviser believes are engaged in the theme of Space Exploration (“Space Exploration Companies”), the Adviser seeks to identify, using its own internal research and analysis, companies capitalizing on disruptive innovation. The Adviser defines “disruptive innovation” as the introduction of a technologically enabled new product or service that the Adviser expects to change an industry landscape. The Adviser’s internal research and analysis leverages insights from diverse sources, including external research, to develop and refine its investment themes and identify and take advantage of trends that have ramifications for individual companies or entire industries.
The Adviser believes that Space Exploration Companies can be grouped into four overarching categories, each of which contains relevant sub-elements.
1) Orbital Aerospace Companies are companies that launch, make, service, or operate platforms in the orbital space, including satellites and launch vehicles.
2) Suborbital Aerospace Companies are companies that launch, make, service, or operate platforms in the suborbital space, including drones, air taxis and electric aviation vehicles.
3) Enabling Technologies Companies are companies that create the technologies required for successful value-add aerospace operations, including artificial intelligence, robotics, 3D printing, materials and energy storage.
4) Aerospace Beneficiary Companies are companies that stand to benefit from aerospace activities, including agriculture, internet access, global positioning system (GPS), construction and imaging.
Space exploration is possible due to the convergence of a number of themes, and a Space Exploration Company may not currently derive any revenue, and there is no assurance that such company will derive any revenue from innovative technologies in the future.
The Adviser will select investments for the Fund that represent the Adviser’s highest-conviction investment ideas within the theme of Space Exploration, i.e., investment decisions regarded with confidence, in constructing the Fund’s portfolio.
The Adviser will analyze potential investments by using both “top down” information (e.g., economy-wide analysis of facts such as rate of growth, cost declines, unit economics, sizing of markets, and price levels as well as business and technology cycle trends) and “bottom up” criteria (e.g., fundamental and quantitative metrics for individual companies such as their revenue growth, profitability and return on invested capital). Based upon its research and analysis,
The Adviser will select a portfolio company that it believes presents the best risk-reward opportunities. [In both the Adviser’s “top down” and “bottom up” approaches, the Adviser evaluates environmental, social, and governance (“ESG”) considerations. In its “top down” approach, the Adviser uses the framework of the United Nations Sustainable Development Goals to integrate ESG considerations into its research and investment process.
The Adviser, however, does not use ESG considerations to limit, restrict or otherwise exclude companies or sectors from the Fund’s investment universe. In its “bottom up” approach, the Adviser makes its investment decisions primarily based on its analysis of the potential of individual companies, while integrating ESG considerations into that process.
The Adviser’s highest-conviction investment ideas are those that it believes present the best risk-reward opportunities.]
Under normal circumstances, substantially all of the Fund’s assets will be invested in equity securities, including common stocks, partnership interests, business trust shares and other equity investments or ownership interests in business enterprises.
The Fund’s investments will include micro-, small-, medium- and large-capitalization companies.
The Fund’s investments in foreign equity securities will be in both developed and emerging markets.
The Fund may invest in foreign securities (including investments in American Depositary Receipts (“ADRs”) and Global Depositary Receipts (“GDRs”)) and securities listed on local foreign exchanges.
--------------------------snip------------------------------------
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do you see the phrase "only public companies" anywhere?
looks vague enough to seem to mean anything if you read it liberally
can you interpret this line please
"and other equity investments or ownership interests in business enterprises."
I don't see it mentioned anywhere. I guess I am assuming that as an ETF, they can only invest in public companies. But now that I do a google search (duh), I see that ETFs can indeed invest in private companies (https://www.etf.com/channels/private-equity-etfs).
So, hmmm, wow, if ARKX could snag some SpaceX shares, I suspect the ETF would do well indeed.
Well, the prospectus said 75 days from filing which I'm pretty sure was 1/13/2021, which should make 3/29/2021 very exciting, the 5th monday in March when we should know whats in ARKX if they keep up their listing of their holdings.
If that does happen then I bet we could see some crazy price action when the ETF goes "public". The demand for SpaceX shares is crazy as I'm sure everyone here knows. I wasn't able to get as much as I wanted in my recent SPV investment.
Looking to invest into SpaceX via SharesPost or Forge (or other ways?). Wondering what your personal experiences are with either, how quick it was to locate an SPV that would welcome a buy in, and what happens if/when Starlink goes public? Do the Starlink shares her transfered into a brokerage account etc?
Those SPVs are structured as LLCs. CRA doesn't like US LLCs. I highly recommend talking to a tax attorney to see if they can offer you a way to structure it efficiently should the SPV investment opportunity arise.
Bet TSLA
Active Member
There's now a web site: About — First Principles Group. The idea seems to be to connect SpaceX / Elon enthusiasts with lots of money to shares of SpaceX. Low overhead. There are lawyers involved. I'm sure there's lots of interest, but not sure how many are both qualified and serious. We shall see. The big problem, as I see it anyway, is just how limited liquidity will be. I don't mind my money being locked up for a year or two, but not for a decade.
I'm sure many here will want to take a look at the website. Sign up. The FAQ requires a password last I checked, which signing up should get you. And yes, they require that you be an accredited investor or better.
Opinions?
I’m in the group. The fees seems better than others I’ve seen by 5%? Agree on the capital being locked up for long periods of time. I’m only investing with capital I’m not counting on for decades. I have the benefit of knowing couple of the individuals in this group making it slightly more comfortable investing together.
Bet TSLA
Active Member
To be clear, you mean you are planning on investing, right? They won't take any money yet, so far as I know.
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