Representationalism is, roughly, the view that experiencing is to be analyzed wholly in terms of representing. But what sorts of properties are represented in experience? According to a prominent form of representationalism, objective representationalism, experiences represent only objective (i.e. suitably mind-independent) properties. I explore subjective representationalism, the view that experiences represent at least some subjective (i.e. suitably mind-dependent) properties. Subjective representationalists, but not objective representationalists, can accommodate cases of illusion-free phenomenal inversion. Moreover, subjective representationalism captures the so-called transparency of experience, as it is standardly articulated, just as well as objective representationalism.