Key Takeaways
- • Harvard reported a 27.1% gain for the fiscal year ended June 30, 2026, lifting its endowment to almost $68 billion, according to the Wall Street Journal.
- • The University of North Carolina system gained 37.8%, roughly half of which came from its SpaceX position; Washington University in St. Louis gained 37.3% and Stanford gained 31.7% in its main investment vehicle.
- • Harvard's endowment held about $2.2 billion of SpaceX shares as of June 30, its largest single public equity holding ever.
- • University endowments are posting their strongest returns in five years, with the gains attributed in part to SpaceX and other AI-related investments.
Summary
University endowments are reporting their strongest returns in five years, with SpaceX and other artificial intelligence-related holdings contributing materially to performance, according to the Wall Street Journal. Harvard became the latest major school to report a gain above 20% when it disclosed on Thursday a 27.1% return for the fiscal year ended June 30, 2026. The gain lifted the endowment to almost $68 billion.
The University of North Carolina system was among the largest winners, gaining 37.8%, about half of which was attributed to its SpaceX exposure. Washington University in St. Louis gained 37.3%, and Stanford posted a 31.7% gain in its main investment vehicle. Harvard's endowment held roughly $2.2 billion of SpaceX shares as of June 30, its largest single public equity position on record, according to supplemental reporting. Earlier WSJ reporting in June indicated that about 10% of the UNC System endowment was tied to SpaceX, a concentration described as extraordinary for an endowment.
The results show how concentrated private-market positions in a single company can drive endowment performance in a given year. Coverage of the results also noted that Harvard's private capital holdings rebounded during the period, contributing to the overall gain. The returns exceed the performance of the S&P 500 index for the same period, according to reporting on the large US university endowments.
The University of North Carolina system was among the largest winners, gaining 37.8%, about half of which was attributed to its SpaceX exposure. Washington University in St. Louis gained 37.3%, and Stanford posted a 31.7% gain in its main investment vehicle. Harvard's endowment held roughly $2.2 billion of SpaceX shares as of June 30, its largest single public equity position on record, according to supplemental reporting. Earlier WSJ reporting in June indicated that about 10% of the UNC System endowment was tied to SpaceX, a concentration described as extraordinary for an endowment.
The results show how concentrated private-market positions in a single company can drive endowment performance in a given year. Coverage of the results also noted that Harvard's private capital holdings rebounded during the period, contributing to the overall gain. The returns exceed the performance of the S&P 500 index for the same period, according to reporting on the large US university endowments.
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