“The power to control our species’ genetic future is awesome and terrifying. Deciding how to handle it may be the biggest challenge we have ever faced.”
Jennifer DoudnaJennifer Doudna was born in Washington, D.C., and was raised in Hawaii where she developed a fascination for science. In 1985 she completed a bachelor’s degree in chemistry at Pomona College in Claremont, California. Several chemistry professors had a deep impact on her during her undergraduate years. One of them was Sharon Panasenko who struck Doudna not only because of her noteworthy scientific talent but also because she demonstrated how to be a successful woman in the male-dominated world of science.
Doudna is best known for her discovery, with French microbiologist Emmanuelle Charpentier, of a molecular tool known as (CRISPR)-Cas9 in 2012. They were awarded the 2020 Nobel Prize in Chemistry for their discovery and development of gene editing technologies, and are the first two women to have won a science-based Nobel Prize. Besides her research work, Doudna is also a co-founder of several companies including Mammoth Biosciences, Caribou Biosciences, Intellia Therapeutics, and Editas Medicine.
The discovery of CRISPR-Cas9, developed in 2012, provided the foundation for gene editing. It enabled researchers to make specific changes to DNA sequences in a way that was far more efficient and technologically simpler than earlier methods.
Using the CRISPR-Cas9 system, scientists were able to alter DNA and correct genetic defects in animals. By modifying DNA sequences in embryonic stem cells, Doudna opened the path to genome modification in humans. Genome modification could be used to program the editing of genomes, which is considered one of the most remarkable discoveries in the history of biology.
Since the end of Q1 2026, XOVR's SpaceX exposure reflected more than $183 million of unrealized appreciation, measured from March 30, 2026 through June 15, 2026, including appreciation associated with SpaceX's IPO and the commencement of public trading on the NASDAQ. Over the same period, XOVR appreciated by approximately 30.71%, with appreciation in its SpaceX exposure contributing significantly to the Fund's performance.
XOVR's NAV increased on June 12 after SpaceX completed its IPO and began trading publicly on the NASDAQ. XOVR shares traded at a discount to NAV due to secondary-market trading dynamics while the Fund's Shareholder Protection Plan was in effect.
After trading at a 1.7% premium on June 11, XOVR closed at a secondary-market price of $19.96 on June 12 while NAV rose to $20.26, or +2.6%. The June 12 discount reflected IPO-day secondary-market pricing while the Shareholder Protection Plan was in effect; following the IPO date, price-to-NAV alignment appeared to improve.
The Shareholder Protection Plan was implemented to help protect existing long-term shareholders and mitigate the impact of unusually large short-term, event-driven flows around the SpaceX IPO. For details on NAV vs. market price, SpaceX exposure appreciation, and the Fund's Shareholder Protection Plan, please read the FAQ. The XOVR Shareholder Protection Plan was designed to prioritize existing long-term shareholders ahead of short-term, event-driven trading flows, including institutional trading activity around the SpaceX IPO.