NPORT-EX 2 AIA0010ARK103122.htm

 

Schedule of Investments

ARK Venture Fund

 

October 31, 2022 (Unaudited)

 

   Shares/
Principal/Units		   Cost   Value 
COMMON STOCKS IN PUBLIC COMPANIES – 24.6%               
                
AUTOMOBILES - 2.2%               
Tesla, Inc.*   803   $191,301   $182,715 
                
CAPITAL MARKETS - 1.2%               
Coinbase Global, Inc., Class A*   1,475    106,251    97,719 
                
ENTERTAINMENT - 4.5%               
Roblox Corp., Class A*   6,167    240,933    275,912 
Roku, Inc.*   1,799    106,537    99,916 
         347,470    375,828 
HOTELS, RESTAURANTS & LEISURE - 1.3%               
Draftkings, Inc., Class A*   6,438    106,604    101,720 
                
IT SERVICES - 5.5%               
Block, Inc.*   1,718    106,177    103,200 
Shopify, Inc., Class A (Canada)*   3,425    106,618    117,238 
Twilio, Inc., Class A*   3,166    241,159    235,455 
         453,954    455,893 
SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT - 3.0%               
NVIDIA Corp.   1,822    240,600    245,915 
                
SOFTWARE - 6.9%               
Uipath, Inc., Class A*   18,100    242,282    228,965 
Unity Software, Inc.*   2,994    106,382    88,323 
Zoom Video Communications, Inc., Class A*   3,077    241,622    256,745 
         590,286    574,033 
TOTAL COMMON STOCKS IN PUBLIC COMPANIES        2,036,466    2,033,823 

 

   Acquisition Date  Shares/
Principal/Units		   Cost   Value 
COMMON STOCKS IN PRIVATE COMPANIES – 20.0%                  
                   
INTERNET - 12.0%                  
X Holdings, Inc. (Twitter)*,(a),(b)  10/31/22   18,450    1,000,000    1,000,000 
                   
SOFTWARE - 8.0%                  
Epic Games, Inc.*,(a),(b),(c)  9/23/22   874    665,525    665,528 
TOTAL COMMON STOCKS IN PRIVATE COMPANIES           1,665,525    1,665,528 
PREFERRED STOCKS IN PRIVATE COMPANIES – 16.9%                  
                   
HEALTHCARE PRODUCTS - 12.0%                  
Freenome, Inc.*,(a),(b)  9/23/22   85,711    999,990    999,990 
                   
TRANSPORTATION - 4.9%                  
Flexport, Inc.*,(a),(b)  9/23/22   29,629    404,992    399,992 
TOTAL PREFERRED STOCKS IN PRIVATE COMPANIES           1,404,982    1,399,982 
SIMPLE AGREEMENT TO PURCHASE EQUITY IN PRIVATE COMPANIES – 9.6%                  
                   
COMMERCIAL SERVICES - 4.8%                  
Chipper Cash*,(a),(b)  9/23/22   400,000    400,000    400,000 

 

 

 

 

Schedule of Investments (continued)

ARK Venture Fund

 

October 31, 2022 (Unaudited)

 

   Acquisition Date  Shares/
Principal/Units		   Cost   Value 
SIMPLE AGREEMENT TO PURCHASE EQUITY IN PRIVATE COMPANIES (continued)                  
                   
SOFTWARE - 4.8%                  
MosaicML*,(a),(b)  9/23/22   400,000   $400,000   $400,000 
TOTAL SIMPLE AGREEMENT TO PURCHASE EQUITY IN PRIVATE COMPANIES           800,000    800,000 

 

   Shares/
Principal/Units		   Cost   Value 
MONEY MARKET FUND – 41.3%               
Dreyfus Government Cash Management, 2.91% (d)   3,435,443    3,435,443    3,435,443 
TOTAL INVESTMENTS – 112.4%        9,342,416    9,334,776 
Liabilities in Excess of Other Assets–(12.4)%             (​1,026,487)
Net Assets–100.0%            $8,308,289 

 

* Non-income producing security
(a) Investment valued at fair value using methods determined in good faith by, or at the discretion of, the Board of Trustees. For fair value measurement disclosure purposes, investment is classified as Level 3.
(b) Restricted security; security may not be publicly sold without registration under the Securities Act of 1933, as amended. As of October 31, 2022, total investments in restricted securities were $3,865,510 and are classified as Level 3.
(c) These securities have been purchased through Special Purpose Vehicles in which the Fund has a direct investment of ownership units of the Vehicles. The shares, cost basis and fair value stated are determined based on the underlying securities purchased by the Vehicle and the Fund’s ownership percentage.
(d) Rate shown represents annualized 7-day yield as of October 31, 2022.

 

 

 

 

October 31, 2022 (Unaudited)

 

Fair value measurements

 

The Fund discloses the fair value of its investments in a hierarchy that distinguishes between: (i) market participant assumptions developed based on market data obtained from sources independent of the Fund (observable inputs) and (ii) the Fund's own assumptions about market participant assumptions developed based on the best information available under the circumstances (unobservable inputs). The three levels defined by the hierarchy are as follows:

 

• Level 1 — Quoted prices in active markets for identical assets.
 
• Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).
 
• Level 3 — significant unobservable inputs, including the Fund’s own assumptions in determining the fair value of investments.

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. The following is a summary of the inputs used to determine fair value of the Fund’s investments as of October 31, 2022:

 

Investment in Securities  Level 1   Level 2   Level 3   Total 
Common Stocks in public companies*  $2,033,823   $–   $–   $2,033,823 
Common Stocks in private companies*   –    –    1,665,528    1,665,528 
Preferred Stocks in private companies*   –    –    1,399,982    1,399,982 
Simple agreement to purchase equity in private companies*   –    –    800,000    800,000 
Money Market Fund   3,435,443    –    –    3,435,443 
Total  $5,469,266   $–   $3,865,510   $9,334,776 

 

* All sub-categories within the security type represent their respective evaluation status. For a detailed breakout by industry, please refer to the Schedule of Investments.

 

A reconciliation of assets in which Level 3 inputs are used in determining fair value is presented when there are significant Level 3 financial instruments at the beginning and/or end of the reporting year. At October 31, 2022, the reconciliation of assets is as follows:

 

   Common Stocks In
Private Companies		   Preferred Stocks In
Private Companies		   Simple Agreement To
Purchase Equity In
Private Companies		   Total 
Balance at September 23, 2022*  $–   $–   $–   $– 
Purchases   1,665,525    1,404,982    800,000    3,870,507 
Sales   –    –    –    – 
Transfer into Level 3   –    –    –    – 
Transfer out of Level 3   –    –    –    – 
Net Realized Gain (Loss)   –    –    –    – 
Net Change in Unrealized Appreciation (Depreciation)   3    (5,000)   –    (4,997)
Balance at October 31, 2022  $1,665,528   $1,399,982   $800,000   $3,865,510 

 

* Inception date