ARK Venture Fund values its Kalshi Series E and F shares at $32,847,995 at July 31, 2026
- Place in VP50
- #24
- Sources
- 2
- Claims verified
- 5 of 5
What happened
ARK Venture Fund's annual report for the period ended July 31, 2026 listed its holdings in Kalshi, which the report described as a federally regulated financial exchange where users trade event contracts. The fund held 31,175 Series E preferred shares, acquired on November 18, 2025 at a cost of $9,999,840, and 24,799 Series F preferred shares, acquired on April 10, 2026 at a cost of $14,999,979. At July 31 it valued the Series E shares at $18,294,856 and the Series F shares at $14,553,139, a total of $32,847,995 against a combined cost of $24,999,819.
The Series F stake was marked below its cost, while the earlier Series E stake was marked above its cost. The report gave a value and a share count for each line, not a per-share price. ARK Investment Management, the fund's adviser, fair valued the investment under its valuation policies and classified it as Level 3. The report described both holdings as restricted securities that may not be publicly sold without registration. The fund filed the report with the SEC on Form N-CSR on October 7, 2026. The figures were the fund's own mark at a reporting date, not a new transaction in Kalshi shares.
Key points
- The fund holds 31,175 Series E and 24,799 Series F preferred shares of Kalshi.2
- At July 31, 2026 the two stakes were valued at $32,847,995 against a cost of $24,999,819.2
- The Series F stake was valued at $14,553,139 against a cost of $14,999,979.2
- The annual report was filed with the SEC on Form N-CSR on October 7, 2026.1
Why it matters
The Series F stake is valued at $14,553,139 against a cost of $14,999,979, so this fair-value mark sits under the amount the fund paid on April 10, 2026.
The Series E stake bought on November 18, 2025 for $9,999,840 is carried at $18,294,856, so the two series sit on opposite sides of their cost in the same report.
The value is set by the adviser under its own policies and classified as Level 3, and the shares are restricted securities that may not be publicly sold without registration, so the figure does not show a buyer at that value.
In context
| Round | Date | Post-money valuation | Raised | Led by |
|---|---|---|---|---|
| Series C | Jun 25, 2025 | $2.0B | $185M | Paradigm |
| Series D | Oct 10, 2025 | $5.0B | $300M | Andreessen Horowitz and Sequoia Capital |
| Series E | Dec 2, 2025 | $11B | $1.0B | Paradigm |
| Series F | May 7, 2026 | $22B | $1.0B | Coatue |
| Series F extension | May 20, 2026 | $22B | $200M | Unknown |
Updated
Fact-check
- The fund holds 31,175 Series E shares acquired on 11/18/25 at a cost of $9,999,840 and 24,799 Series F shares acquired on 4/10/26 at a cost of $14,999,979.Confirmed by [2] ARK Investment Management: the Consolidated Schedule of Investments at July 31, 2026 lists both lines under preferred stocks in private companies with these share counts, acquisition dates and costs.Verified
- At July 31, 2026 the Series E shares were valued at $18,294,856 and the Series F shares at $14,553,139, a total of $32,847,995 against a cost of $24,999,819.Confirmed by [2] ARK Investment Management: the schedule shows these values and the subtotals of $24,999,819 cost and $32,847,995 value.Verified
- The investment is fair valued by ARK Investment Management under its valuation policies, classified as Level 3, and is a restricted security.Confirmed by [2] ARK Investment Management: footnotes (b) and (c) on both Kalshi lines state the restricted-security status, fair valuation by the adviser and Level 3 classification.Verified
- Kalshi is a federally regulated financial exchange that lets users trade event contracts.Confirmed by [2] ARK Investment Management, in its description of the fund's private investments.Verified
- The report was filed on Form N-CSR on October 7, 2026 for the period ended July 31, 2026.Confirmed by [1] SEC EDGAR: the filing index shows form N-CSR, period of report 2026-07-31, filing date 2026-10-07. The index page carries no Kalshi figures; those come from [2].Verified
Sources
- [1]SEC EDGAR (opens in a new tab)ARK Venture Fund Form N-CSR, accession 0001213900-26-107607, period 2026-07-31
- [2]ARK Investment Management (opens in a new tab)ARK Venture Fund Annual Report, July 31, 2026Kalshi, Inc., Series F 4/10/26 24,799 14,999,979 14,553,139
