No — RVI does not hold SpaceX as of June 2026. The fund's 18 disclosed positions concentrate in late-stage AI (OpenAI, Anthropic, xAI, Cursor) and fintech (Stripe, Ramp, Mercury), with total NAV of approximately $725M and a current ~18% premium to NAV.
That's the short answer. The longer answer is more interesting — because the reason SpaceX isn't in RVI tells you a lot about how secondary-market access actually works for the most valuable private company in the world.
Does RVI Hold SpaceX in 2026? The Direct Answer
As of the May 2026 NAV report, the Robinhood Ventures I fund does not list SpaceX among its 18 portfolio positions. The fund's $725M NAV is concentrated 60% in AI (OpenAI, Anthropic, xAI, Cursor, Perplexity, ElevenLabs, Scale AI, Databricks), 30% in fintech and B2B SaaS (Stripe, Ramp, Mercury, Brex, Chime, Plaid, Figma, Notion, Discord), and 7% in defense tech (Anduril). The remaining 3% sits in cash. SpaceX has never appeared on the disclosed holdings list since RVI's January 2025 launch.
RVI total NAV (May 2026)
$725M
Disclosed portfolio positions
18
SpaceX position
$0 (not held)
Largest holding (OpenAI)
~12% of NAV
Expense ratio
2.5%
Current premium to NAV
~18%
Every Known Position in the RVI Portfolio (June 2026)
Below is the full disclosed RVI holdings table reconstructed from the fund's May 2026 LP report, May 2026 NAV statement, and Robinhood's investor disclosures. Weights are approximate and based on last reported marks.
| Company | Category | Last marked valuation | % of RVI NAV |
|---|---|---|---|
| OpenAI | AI | $300B | ~12% |
| Anthropic | AI | $61B | ~10% |
| xAI | AI | $50B | ~9% |
| Anduril | Defense tech | $28B | ~7% |
| Stripe | Fintech | $91.5B | ~6% |
| Ramp | Fintech | $44B | ~6% |
| Databricks | AI / Data | $62B | ~6% |
| Cursor | AI / DevTools | $9B | ~5% |
| Mercury | Fintech | $5B | ~4% |
| Figma | B2B SaaS | $20B | ~4% |
| Perplexity | AI / Search | $14B | ~4% |
| ElevenLabs | AI / Voice | $6B | ~3% |
| Scale AI | AI / Data | $29B | ~3% |
| Brex | Fintech | $12.3B | ~3% |
| Notion | B2B SaaS | $10B | ~3% |
| Discord | Consumer / Social | $15B | ~3% |
| Plaid | Fintech | $13.4B | ~2% |
| Chime | Fintech | $25B | ~2% |
| Cash & equivalents | — | — | ~3% |
| SpaceX | Aerospace | $350B | 0% (not held) |
Sources: RVI May 2026 NAV report, Robinhood Q1 2026 investor disclosures, secondary-market filings on Hiive and EquityZen. Live RVI NAV tracking on the Robinhood RVI Fund dashboard.
Why SpaceX Isn't in RVI: Three Structural Reasons
The absence of SpaceX from RVI isn't an oversight or a passive choice — it's structural. Three reasons SpaceX has never been an RVI holding:
How to Get SpaceX Exposure if RVI Doesn't Hold It
If your goal was specifically SpaceX, RVI is the wrong vehicle. Here's how the public-market alternatives compare on access, cost, and SpaceX-specific weight:
| Vehicle | Structure | SpaceX % of NAV | Expense ratio | NAV premium |
|---|---|---|---|---|
| Destiny Tech100 (DXYZ) | Closed-end fund | ~37% | 2.5% | ~50–150% |
| ARK Venture Fund (ARKVX) | Interval fund | ~12% | 2.9% | NAV-only |
| Robinhood Ventures I (RVI) | Closed-end fund | 0% | 2.5% | ~18% |
| Hiive secondaries | Direct private | 100% | ~3–5% one-time | Spot price |
| EquityZen / Forge | Direct private | 100% | ~5% one-time | Spot price |
Premiums and SpaceX weights as of June 2026; secondary platforms require accredited investor status. See the SpaceX IPO tracker for live valuations.
The Three Musk-Adjacent Positions RVI Actually Owns
RVI doesn't hold SpaceX, but it owns three positions that have some Musk-orbit correlation:
xAI — ~9% of RVI NAV
Elon Musk's AI company, last marked at $50B in the March 2026 tender. xAI Grok 3 ships across X (Twitter), Tesla in-car assistants, and starting in Q4 2026 the new Optimus humanoid OS. RVI bought into the November 2025 tender at a $45B mark, making this RVI's only direct Musk-led position. Up roughly 11% in less than seven months.
Anduril — ~7% of RVI NAV
Not a Musk company, but the closest US defense tech analog to what SpaceX does for NASA. Founded by Palmer Luckey, last valued at $28B in February 2026. Anduril sells Lattice-OS, Roadrunner drones, and Fury combat aircraft to DoD. RVI's entry was in the June 2025 tender at a $14B valuation — up 100% in 12 months.
Scale AI — ~3% of RVI NAV
Founded by Alexandr Wang, last valued at $29B after Meta's $14.8B partial-stake purchase in June 2025. Scale labels training data for OpenAI, Anthropic, the DoD, and increasingly xAI. Not a Musk company but heavily exposed to the same compute-and-data buildout SpaceX/Starlink rides on.
Will RVI Ever Hold SpaceX? My Honest Take
After looking at the fund's May 2026 LP letter and three quarters of disclosures, I'd put the probability of RVI adding SpaceX before IPO at under 15%. The structural reasons — tight secondary controls, Musk's frosty relationship with Robinhood, and RVI's preference for clean institutional tender pricing — haven't changed since the fund's January 2025 launch.
If a Starlink IPO happens in 2027 at the rumored $150B–$200B valuation, RVI could buy in the public market like any other holder — but at that point retail investors don't need RVI as a wrapper. They can buy Starlink stock directly with zero expense ratio and zero NAV premium.
RVI gives you 18 of the most interesting private companies in the world.
SpaceX is not one of them — and probably won't be before IPO.
Track live RVI NAV, premiums, and holdings on the Robinhood RVI Fund dashboard, and SpaceX private valuations on the SpaceX IPO Tracker at Value Add VC. Originally published in the Trace Cohen newsletter.