Position Notes
A projected net-asset-value model for the Fundrise Innovation Fund, built from the actual Q1 2026 SEC Schedule of Investments rather than weight-based estimates.
A personal model published for reference. Cost and fair-value figures come from the fund's own filing; the “current valuation” column is my own research on where each company has since been marked. Assumptions are mine and may be wrong.
Toggle between conservative and bull-case company valuations, search, and sort any column. The NAV/share column shows what each position contributes to the gap between the fund's stale reported NAV and where the portfolio is actually marked today.
The official $18.43 NAV reflects company valuations as of March 31. Anthropic alone is still carried near a $183B implied valuation against a confirmed $965B Series H — and several other positions have repriced or been acquired since.
Fundrise updates NAV quarterly. Until the Q2 figure lands, the reported number stays stale by construction — which cuts both ways if the market has already priced the repricing in.
Sold $30-strike January puts for $9.50 in premium — an effective breakeven of $20.50, roughly in line with a conservative post-repricing NAV estimate.