PWRL — Private Tech. Nasdaq Listed.

Aerospace & Defense

SpaceX

Hawthorne, CAFounded 200213,000+ employeeswww.spacex.com

Reusable rockets and Starlink, the infrastructure company of the space era.

Position

PWRL Position

Fair Value

$147.0M1

Allocation

20%2

Cost of Investment

$45.1M3

Gross MOIC

3.3x4

FY2025 Revenue

$18.7B5

Starlink Subscribers

10.3M6

Adj. EBITDA

~$6.6B6

  1. Estimated and unaudited fair value of such investments as of 09-30-2026, in accordance with the Fund's valuation policies and procedures.
  2. Allocation is calculated based on the Portfolio Company's estimated and unaudited fair value as a percentage of the Fund's estimated and unaudited net assets as of 09-30-2026.
  3. Cost basis is estimated and unaudited as of 09-30-2026 and includes investment cost and transaction expenses and excludes fund-level management fees and operating expenses.
  4. Gross MOIC is calculated as the fair value of the Fund’s position divided by its cost basis as of 09-30-2026 (estimated and unaudited). Gross MOIC is a single-position, gross-of-fees measure and is not comparable to the Fund’s net NAV/share return, which reflects all fund-level fees and expenses, realized positions, and cash. Past performance does not guarantee future results.
  5. SpaceNews, 'The SpaceX IPO Tells One Story…,' July 2026.
  6. CNBC, 'SpaceX (SPCX) IPO: Live Updates,' May 21, 2026.

Why it sits in PWRL.

SpaceX launches more rockets than every country and company on Earth combined, and its Starlink network connects millions to the internet from space. Whoever controls access to orbit controls the next great frontier — and right now that's SpaceX.

  1. Company operating data is sourced from internal investment memoranda and may include estimates and forward-looking information.

More Aerospace & Defense in PWRL

Visit SpaceX →Back to portfolio

Frequently Asked Questions

We want to bring as much transparency as possible to accessing private market investing. If you're not finding the answers you're looking for, contact us at Info@PWRL.com.

Powerlaw Corp. (Nasdaq: PWRL) is a listed closed-end fund registered under the Investment Company Act of 1940, offering exposure to leading private technology companies through a single Nasdaq-listed security. It provides daily liquidity, monthly NAV reporting and quarterly portfolio disclosure.

PWRL includes exposure to SpaceX, OpenAI, Kalshi, Databricks, Stripe, Shield AI, Deel, Kraken, Vast Data, Tether, Colossal Biosciences, Mercor, Perplexity, Canva, Rippling, Saronic and Waymo, all in one Nasdaq-listed stock. Portfolio holdings are updated quarterly and NAV monthly; September’s year-end NAV is reported within 60 days.

Powerlaw Corp. (Nasdaq: PWRL) is the first product of Powerlaw Capital Group and advised by Powerlaw Fund Adviser, LLC. The firm is backed by Akkadian Ventures' 16-year heritage in private-company secondary markets.

Portfolio holdings are carried at fair value, determined under the Fund's valuation policies with input from independent valuation sources. Inputs include recent primary financings, secondary market transactions and comparable-company multiples.

In an IPO, the Fund's position converts to listed equity, generally subject to a customary lock-up. In a sale, the Fund receives cash, stock, or a mix of consideration. Proceeds are reflected in NAV and may be available for reinvestment or distributions.

No. Shareholders own PWRL; the Fund owns the underlying private positions. Buying PWRL provides economic exposure to the portfolio through a single security listed on NASDAQ.

Powerlaw Corp. publishes monthly NAV and NAV per share, with quarterly portfolio disclosures. All filings are available on PWRL.com and through the SEC's EDGAR system.

Investing in PWRL involves a number of significant risks. Before you invest in PWRL, you should be aware of various risks associated with the investment, including those described in our prospectus. The prospectus contains this and other information about the Fund and is available free of charge at www.PWRL.com. You should carefully consider these risk factors, together with all of the other information included in the prospectus, before you decide whether to make an investment in PWRL.