Investment Strategy

The SharesPost 100 Fund seeks capital appreciation by focusing on investments in late-stage, venture-backed private companies. As compared to startups and earlier-stage venture companies, these companies have more established product lines and customer bases, and typically have displayed revenue growth. The SharesPost 100 Fund’s strategy is to participate in the potential appreciation of these dynamic pre-lPO companies.

Investment Process

The SharesPost 100 Fund investment management team monitors the investment performance of venture capital firms and analyzes their portfolio companies with a proprietary process. From this analysis, we publish the SharesPost 100 List, a proprietary list that we believe to be the top 100 companies in the venture asset class. The SharesPost 100 List defines the SharesPost 100 Fund’s primary investible universe.

Total Return Information
SharesPost 100 Fund
(Inception Date: 3/25/14)
Annualized Total Return:
1/1/2015 - 12/31/2020
(5 Year)
Annualized Total Return:
Inception - 12/31/2020
Cumulative Total Return:
1/1/2020 - 12/31/2020
(1 Year)
Cumulative Total Return:
Inception - 12/31/2020
Returns based on Purchase
Without Any Sales Charge (NAV)
7.78% 9.54% 23.69% 85.29%
Returns Based on Purchase With
Maximum Sales Charge of 5.75% (POP)
6.51% 8.58% 16.57% 74.64%
Fund Benchmark
Russell 2000 Index 13.26% 9.43% 19.96% 84.10%
  • Annualized Total Return: 1/1/2015 - 12/31/2020 (5 Year)
    (Inception Date: 3/25/14) Annualized Total Return:
    1/1/2015 - 12/31/2020 (5 Year)
    Returns based on Purchase
    Without Any Sales Charge (NAV)
    7.78%
    Returns Based on Purchase With
    Maximum Sales Charge of 5.75% (POP)
    6.51%
    Fund Benchmark
    Russell 2000 Index 13.26%
  • Annualized Total Return: Inception - 12/31/2020
    (Inception Date: 3/25/14) Annualized Total Return:
    Inception - 12/31/2020
    Returns based on Purchase
    Without Any Sales Charge (NAV)
    9.54%
    Returns Based on Purchase With
    Maximum Sales Charge of 5.75% (POP)
    8.58%
    Fund Benchmark
    Russell 2000 Index 9.43%
  • Cumulative Total Return: 1/1/2020 - 12/31/2020 (1 Year)
    (Inception Date: 3/25/14) Cumulative Total Return:
    1/1/2020 - 12/31/2020 (1 Year)
    Returns based on Purchase
    Without Any Sales Charge (NAV)
    23.69%
    Returns Based on Purchase With
    Maximum Sales Charge of 5.75% (POP)
    16.57%
    Fund Benchmark
    Russell 2000 Index 19.96%
  • Cumulative Total Return: Inception - 12/31/2020
    (Inception Date: 3/25/14) Cumulative Total Return:
    Inception - 12/31/2020
    Returns based on Purchase
    Without Any Sales Charge (NAV)
    85.29%
    Returns Based on Purchase With
    Maximum Sales Charge of 5.75% (POP)
    74.64%
    Fund Benchmark
    Russell 2000 Index 84.10%
Returns vary per share class. Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Current performance may be lower or higher than the performance data quoted. For performance as of the most recent month-end, please call 1-800-834-8707. Some of the Fund’s fees were waived or expenses reimbursed; otherwise, returns would have been lower. The Fund’s total expenses are 3.32%, 3.57%, and 3.07% for the Class A, L, and I shares respectively. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses such that total expenses do not exceed 2.50%, 2.75%, and 2.25% for the Class A, L, and I shares respectively. The agreement with the Advisor is in place through December 9, 2022. Net expenses are applicable to investors. Performance results with load reflect the deduction of the 5.75% maximum front end sales charge for Class A Shares and 4.25% for the Class L Shares.
SharesPost 100 Fund
(Inception Date: 11/17/17)
Annualized Total Return:
1/1/2015 - 12/31/2020
(5 Year)
Annualized Total Return:
Inception - 12/31/2020
Cumulative Total Return:
1/1/2020 - 12/31/2020
(1 Year)
Cumulative Total Return:
Inception - 12/31/2020
Returns based on Purchase
Without Any Sales Charge (NAV)
N/A 11.79% 23.97% 41.60%
Fund Benchmark
Russell 2000 Index N/A 10.90% 19.96% 38.11%
Returns vary per share class. Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Current performance may be lower or higher than the performance data quoted. For performance as of the most recent month-end, please call 1-800-834-8707. Some of the Fund’s fees were waived or expenses reimbursed; otherwise, returns would have been lower. The Fund’s total expenses are 3.32%, 3.57%, and 3.07% for the Class A, L, and I shares respectively. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses such that total expenses do not exceed 2.50%, 2.75%, and 2.25% for the Class A, L, and I shares respectively. The agreement with the Advisor is in place through December 9, 2022. Net expenses are applicable to investors. Performance results with load reflect the deduction of the 5.75% maximum front end sales charge for Class A Shares and 4.25% for the Class L Shares.
SharesPost 100 Fund
(Inception Date: 5/11/18)
Annualized Total Return:
1/1/2015 - 12/31/2020
(5 Year)
Annualized Total Return:
Inception - 12/31/2020
Cumulative Total Return:
1/1/2020 - 12/31/2020
(1 Year)
Cumulative Total Return:
Inception - 12/31/2020
Returns based on Purchase
Without Any Sales Charge (NAV)
N/A 10.35% 23.36% 29.71%
Returns Based on Purchase With
Maximum Sales Charge of 4.25% (POP)
N/A 8.55% 18.13% 24.19%
Fund Benchmark
Russell 2000 Index N/A 9.65% 19.96% 27.54%
  • Annualized Total Return: 1/1/2015 - 12/31/2020 (5 Year)
    (Inception Date: 5/11/18) Annualized Total Return:
    1/1/2015 - 12/31/2020 (5 Year)
    Returns based on Purchase
    Without Any Sales Charge (NAV)
    N/A
    Returns Based on Purchase With
    Maximum Sales Charge of 4.25% (POP)
    N/A
    Fund Benchmark
    Russell 2000 Index N/A
  • Annualized Total Return: Inception - 12/31/2020
    (Inception Date: 5/11/18) Annualized Total Return:
    Inception - 12/31/2020
    Returns based on Purchase
    Without Any Sales Charge (NAV)
    10.35%
    Returns Based on Purchase With
    Maximum Sales Charge of 4.25% (POP)
    8.55%
    Fund Benchmark
    Russell 2000 Index 9.65%
  • Cumulative Total Return: 1/1/2020 - 12/31/2020 (1 Year)
    (Inception Date: 5/11/18) Cumulative Total Return:
    1/1/2020 - 12/31/2020 (1 Year)
    Returns based on Purchase
    Without Any Sales Charge (NAV)
    23.36%
    Returns Based on Purchase With
    Maximum Sales Charge of 4.25% (POP)
    18.13%
    Fund Benchmark
    Russell 2000 Index 19.96%
  • Cumulative Total Return: Inception - 12/31/2020
    (Inception Date: 5/11/18) Cumulative Total Return:
    Inception - 12/31/2020
    Returns based on Purchase
    Without Any Sales Charge (NAV)
    29.71%
    Returns Based on Purchase With
    Maximum Sales Charge of 4.25% (POP)
    24.19%
    Fund Benchmark
    Russell 2000 Index 27.54%
Returns vary per share class. Performance data quoted represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than original cost. Current performance may be lower or higher than the performance data quoted. For performance as of the most recent month-end, please call 1-800-834-8707. Some of the Fund’s fees were waived or expenses reimbursed; otherwise, returns would have been lower. The Fund’s total expenses are 3.32%, 3.57%, and 3.07% for the Class A, L, and I shares respectively. The Fund’s advisor has contractually agreed to waive fees and/or reimburse expenses such that total expenses do not exceed 2.50%, 2.75%, and 2.25% for the Class A, L, and I shares respectively. The agreement with the Advisor is in place through December 9, 2022. Net expenses are applicable to investors. Performance results with load reflect the deduction of the 5.75% maximum front end sales charge for Class A Shares and 4.25% for the Class L Shares.

SharesPost 100 Fund Top 10 Holdings  As of 12/31/2020*

Represents 37.88% of Fund holdings as of December 31, 2020. Holdings are subject to change. Not a recommendation to buy, sell, or hold any particular security. To view the Fund’s complete holdings, visit sp100fund.com/portfolio.

Explore the entire portfolio

Important Disclosure

AS OF DECEMBER 9TH, 2020, LIBERTY STREET ADVISORS, INC. REPLACED SP INVESTMENTS MANAGEMENT, LLC (“SPIM”) AS THE ADVISER TO THE FUND. THE FUND’S INVESTMENT OBJECTIVES, INVESTMENT STRATEGY, AND POLICIES HAVE NOT CHANGED.

Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus with this and other information about the SharesPost 100 Fund (the "Fund"), please download here. Read the prospectus carefully before investing.

Investment in the Fund involves substantial risk. The Fund is not suitable for investors who cannot bear the risk of loss of all or part of their investment. The Fund is appropriate only for investors who can tolerate a high degree of risk and do not require a liquid investment. The Fund has no history of public trading and investors should not expect to sell shares other than through the Fund's repurchase policy regardless of how the Fund performs. The Fund does not intend to list its shares on any exchange and does not expect a secondary market to develop.

All investing involves risk including the possible loss of principal. Shares in the Fund are highly illiquid, and can be sold by shareholders only in the quarterly repurchase program of the Fund. Due to transfer restrictions and the illiquid nature of the Fund’s investments, you may not be able to sell your shares when, or in the amount that, you desire. The Fund intends to primarily invest in securities of private, late-stage, venture-backed growth companies. There are significant potential risks relating to investing in such securities. Because most of the securities in which the Fund invests are not publicly traded, the Fund’s investments will be valued by Liberty Street Advisors, Inc. (the “Investment Adviser”) pursuant to fair valuation procedures and methodologies adopted by the Board of Trustees. While the Fund and the Investment Adviser will use good faith efforts to determine the fair value of the Fund’s securities, value will be based on the parameters set forth by the prospectus. As a consequence, the value of the securities, and therefore the Fund’s Net Asset Value (NAV), may vary. There are significant potential risks associated with investing in venture capital and private equity-backed companies with complex capital structures. The Fund focuses its investments in a limited number of securities, which could subject it to greater risk than that of a larger, more varied portfolio. There is a greater focus in technology securities that could adversely affect the Fund’s performance. The Fund is a “non-diversified” investment company, and as such, the Fund may invest a greater percentage of its assets in the securities of a single issuer than investment companies that are “diversified.” The Fund’s quarterly repurchase policy may require the Fund to liquidate portfolio holdings earlier than the Investment Adviser would otherwise do so and may also result in an increase in the Fund’s expense ratio. This is not a complete enumeration of the Fund’s risks. Please read the Fund prospectus for other risk factors related to the Fund.

Companies that may be referenced on this website are privately-held companies. Shares of these privately-held companies do not trade on any national securities exchange, and there is no guarantee that the shares of these companies will ever be traded on any national securities exchange.

The Fund is distributed by FORESIDE FUND SERVICES, LLC

Prospectus for: