Harvard endowment reaches $68 billion driven by SpaceX and AI investments

Harvard University’s endowment reached approximately $68 billion for the fiscal year ending June 30, 2026, following a 27.1% investment return. This represents an $11 billion increase from the previous year, outperforming the median large endowment return of roughly 18.9%.

Key drivers of the growth included a significant stake in SpaceX and various artificial intelligence-related investments. Harvard Management Company held $2.21 billion in SpaceX shares, which accounted for over 51% of its $4.26 billion in listed holdings. Other notable positions included $349.59 million in Taiwan Semiconductor Manufacturing Co., $238.96 million in Cerebras Systems, and $157.62 million in Nvidia.

HMC CEO N. P. Narvekar attributed the performance to venture capital, public equities, and hedge funds. Private equity comprised 46% of the portfolio at year-end. Additionally, the university reported $1.5 billion in donations and an operating surplus of $100 million, despite a decline in federally sponsored research revenue.