The Private Shares Fund
Sponsored by Liberty Street/Private Shares. Interval Fund structure focused on private equity.
Interval FundPrivate Equity
- Net assets
- $1.16B
source
Monthly portfolio report (Form N-PORT) · filed 2026-05-27 · period 2026-03-31
Net assets (N-PORT Part B, Item B.2)
Method Direct: read from a structured filing field
Open the filing on SEC.gov · Full observation history
Technical locator
as of 2026-03-31 - NAV / share
- $47.30
source
Shareholder report (Form N-CSR) · filed 2026-03-09 · period 2025-12-31
financial-highlights end-of-period NAV (fallback)
“Net asset value, end of year $ 47.30”
Method Matched text template against the filing
Open the filing on SEC.gov · Full observation history
Technical locator
Canonical (canonical class) · 2025-12-31 - Net flows, last qtr
- +4.2% qtr ended 2026-03-31
- Leverage in use
- 0% unlevered
- Total return, 12m
- +12.0% computed from NAV + distributions
What changed in the latest filings.
Current findings ordered by severity. Each observation remains traceable to its filed source.
No current Urgent or Notify findings in filings reviewed through 2026-07-02.
Historical findings (8)
NAV per share fell 5.1% from $39.93 to $37.91 (2023-12-31).
NAV per share ($39.51) is 0.4% below its trailing four-observation average ($39.68) as of 2024-06-30.
NAV per share ($37.91) is 6.6% below its trailing four-observation average ($40.59) as of 2023-12-31.
NAV per share fell 3.5% from $41.37 to $39.93 (2023-06-30).
NAV per share fell 4.2% from $43.17 to $41.37 (2022-12-31).
NAV per share fell 2.9% from $43.03 to $41.77 (2021-12-31).
NAV per share fell 4.4% from $26.83 to $25.66 (2017-06-30).
NAV per share fell 2.9% from $26.25 to $25.48 (2015-12-31).
How the fund has moved.
Net asset value, total return, capital flows, and distribution coverage across the filing record.
What moved inside the book.
Filed portfolio-health facts and position changes. Missing disclosures stay visibly missing.
No structured portfolio-health series or position-change events have been captured for this fund.
Where exit demand met the cap.
The disclosed history shows no rationed period.
No structured redemption history has been captured for this fund.
How the balance sheet is funded.
Borrowings, unused capacity, and synthetic exposure are separated so unlike risks do not collapse into one ratio.
No structured financing components have been captured for this fund.
How the offering is divided.
A filed share-class breakdown and terms-based role descriptions. This is not an estimate of who owns the fund.
No filed share-class terms have been captured for this fund; ownership type is therefore not inferred.
Management fee: 1.90% of avg daily net assets per year. source. The Fund has entered into an Investment Advisory Agreement with the Investment Adviser (Liberty Street Advisors, Inc.), pursuant to which the Investment Adviser provides general investment advisory services for the Fund. For providing these services, the Investment Adviser receives a fee from the Fund, accrued daily and paid monthly in arrears, at an annual rate equal to 1.90% of the Fund's average daily net assets. Effective May 1, 2023, the Investment Adviser contractually agreed to waive management fees and/or reimburse the Fund for expenses, subject to certain exclusions, to the extent necessary to maintain the Fund's total annual operating expenses after fee waivers/reimbursement at specified per-class caps (2.65%/2.40%/2.90% depending on share class), subject to a 3-year recoupment right.
The evidence beneath the page.
Filed terms and recent documents remain available without crowding the primary research flow.
Term register (1)
| Term | Description | Value | Effective |
|---|---|---|---|
| advisory_fee_schedule | The Fund has entered into an Investment Advisory Agreement with the Investment Adviser (Liberty Street Advisors, Inc.), pursuant to which the Investment Adviser provides general investment advisory services for the Fund. For providing these services, the Investment Adviser receives a fee from the Fund, accrued daily and paid monthly in arrears, at an annual rate equal to 1.90% of the Fund's average daily net assets. Effective May 1, 2023, the Investment Adviser contractually agreed to waive management fees and/or reimburse the Fund for expenses, subject to certain exclusions, to the extent necessary to maintain the Fund's total annual operating expenses after fee waivers/reimbursement at specified per-class caps (2.65%/2.40%/2.90% depending on share class), subject to a 3-year recoupment right. | 1.9 pct_annual_of_avg_daily_net_assets | Date not captured |
Recent filings
| Filed | Form | Accession |
|---|---|---|
| 2026-05-27 | NPORT-P | 0001193125-26-241036 |
| 2026-05-26 | N-23C3A | 0001213900-26-060838 |
| 2026-03-09 | N-CSR | 0001213900-26-025198 |
| 2026-03-02 | NPORT-P | 0000926877-26-000030 |
| 2026-02-24 | N-23C3A | 0001213900-26-019672 |
| 2025-11-25 | N-23C3A | 0001213900-25-114455 |
| 2025-11-20 | NPORT-P | 0001193125-25-289155 |
| 2025-09-09 | N-CSRS | 0001213900-25-085689 |
| 2025-08-26 | N-23C3A | 0001213900-25-080579 |
| 2025-08-25 | NPORT-P | 0001145549-25-053272 |
| 2025-05-27 | NPORT-P | 0001145549-25-032340 |
| 2025-05-27 | N-23C3A | 0001213900-25-047688 |
| 2025-03-10 | N-CSR | 0001213900-25-022143 |
| 2025-02-25 | NPORT-P | 0001145549-25-009703 |
| 2025-02-25 | N-23C3A | 0001213900-25-016932 |