Decided to buy some SpaceX exposure for fun

DW was chatting about the possible SpaceX IPO, having just seen a youTube video about it. I commented that IPOs are generally overpriced and have often not a great investment historically, but that although SpaceX isn't yet listed, you can get some exposure via some listed investment companies that gained exposure to the private SpaceX shares issued during various rounds of capital raising, and traded off market. One of these is the ER Shares Private-Public Crossover ETF (XOVR) that currently has around 40% of its NAV tied up in exposure to SpaceX private share capital. How it got that level of weighting to SpaceX is itself quite interesting (it initially had around 5%-10% of capital invested in that, but over time it had to liquidate listed investments to cover capital outflows, so the proportion of its capital tied up in the illiquid SpaceX holding increased over time. From my POV that was actually a good thing, as I am interested in getting some exposure to SpaceX, not other listed stocks.

Anyhow, the price for XOVR has fluctuated between $14.79-$21.78 over the past 52 weeks, so the latest closing price of $17.03 seems reasonable. I placed a limit order at $17.00 for 100 XOVR units with my IBKR account, Hopefully it will get filled when the market opens. The current NAV for XOVR is apparently around $16.98, so the current market price seems reasonable too. Investing $1,700 in XOVR would make a significant impact on my NW whether it crashes to zero or becomes a '10-bagger', but it is fun to have a little bit of indirect ownership in SpaceX.

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Net Worth MAR 2026

Chart updated to end of MAR in sidebar.

Who would have guessed that possibly starting WWIII and creating a 1970s style oil shock to cause a global recession/Greater Depression could be bad for everyone's finances :) Apparently everyone except POTUS and MAGA voters it seems.... Ah well, now for the exciting March performance data:

Stocks/cash decreased -$10,502 (-2.19%) to $469,277. This was actually better than one would expect, due to about $300K of this figure being cash sitting in my mortgage offset account. 

Retirement savings (SMSF etc.) decreased by +$97,668 (+4.18%) to $2,240,942. No contributions made this month.

The real estate figures are unchanged, as the source data has not been updated for March. The federal Labor government is floating ideas about limiting negatively geared properties to a maximum of two, and/or reducing the capital gains tax 'discount' (which was actually just a simplified method to avoid taxing the effect of inflation -- they replaced the cost base indexing method with the 50% 'discount' method, as at the time the inflation rate and typical holding period meant about 50% of realized capital gains were simply due to inflation) to 1/3 or 1/4. These changes are likely to make property investing less attractive, and the decreased demand is likely to cause a slump in property prices. It won't actually help renters who want to buy their first home however, as the last time Keating fiddled with negative gearing (simply delaying deductions to EOFY rather than being able to seek a PAYG variation) it resulted in a property slump, shortage of renting housing (due to fewer new constructions), and then a hike in rental costs (which makes it much harder for renters to save the required deposit to obtain a home loan). We'll see what actually gets announced in the budget, and then how the expected and unexpected impacts wash out during the following year or two.

Other assets (my online depository bullion account at Perth Mint, and the bullion value of my gold and silver proof coin collection) decreased by -$14,523 (-13.89%) to $90,035. I am currently still adding $200 worth of gold to my Perth Mint online depository account each month. In theory a price dip is good while using DCA to accumulate an asset over time. Every cloud has a silver (or gold) lining I suppose.

Overall, NW decreased by -$122,693 (-2.27%) to $5,291,426 during Mar. NW needs to increase by about 0.2% per month on average to keep pace with inflation (I.e. maintain real value), so the decrease during March was about +2.4% in real value.

It would be nice to think that April won't be as bad as March was, but the economic impacts of Trump's war will take several months to become fully apparent, and the war could still escalate further.

I got a quote for adding a 'granny flat' to my holiday home property (around $235K), but in the current global situation I think it would be prudent to the leave the money sitting in my loan offset account, rather than spend it on a property improvement. Although the cost is likely to rise substantially in a year or two, I think putting this expense off for the time being is a wise move.

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GenLife Investment Bond Update

I finally got around to updating my sharesight portfolio tracker with my latest quarterly Investment Bond contribution transactions (processed on 17 Feb). Currently the quarterly contribution is around $1,825 each quarter, and I will continue to increase this by 125% annually until it reaches $50Kpa (which is approximately what my 'surplus' tax-free self-funded pension income will be). In the meantime I will store any 'surplus' pension income in my investment property mortgage offset account.

So far the annual ROI (after the ~30% tax paid by IB) is 8.57%pa, which seems OK. The investment allocation is fairly boring:

35% iShares Wholesale International Equity Index Fund

25% Vanguard High Growth Portfolio

20% Perpetual Geared Australian Share Fund

20% Dimensional World 70/30 Fund

I have automatic annual rebalancing in place, and the overall asset mix as at 31 Dec was:

Cash	0.19%
Australian fixed interest	0.76%
International fixed interest	7.72%
Australian shares	28.34%
International shares	62.99%
Australian property	0.00%
International property	0.00%

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Net Worth FEB 2026

Chart updated to end of FEB in sidebar.

Stocks/cash decreased -$7,981 (-1.64%) to $479,779. 

Retirement savings (SMSF etc.) increased by +$33,292 (+1.44%) to $2,338,610. No contributions made this month.

Est. valuation of our home (my half) increased by +$23,320 (+1.83%) to $1,295,556. The estimated value of the 'Other real estate' (my 'lake house' and the investment apartment) increased by +$9,837 (+0.45%) to $2,187,607.

Other assets (my online depository bullion account at Perth Mint, and the bullion value of my gold and silver proof coin collection) increased by +$6,196 (+6.30%) to $104,588. I am currently still adding $200 worth of gold to my Perth Mint online depository account each month.

Overall, NW increased by +$64,664 (+1.21%) to $5,414,119 during Feb. NW needs to increase by about 0.2% per month on average to keep pace with inflation (I.e. maintain real value), so the increase during February was about +1.0% in real value.

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