Harvard endowment grows 27% on SpaceX and AI investments

Summarised from 2 outlets · Updated 15 Oct, 21:32 · Archive

Harvard University's $68 billion endowment rose 27.1% in fiscal 2026, beating the S&P 500's performance.

Harvard University's endowment surged 27.1% in fiscal year 2026, its strongest performance in five years, bringing the fund to nearly $68 billion. The endowment beat the S&P 500's 22.3% total return by 4.8 percentage points, aided by investments in SpaceX and artificial intelligence companies.

Harvard's largest single holding is now a $2.2 billion stake in Elon Musk's SpaceX, according to the endowment's latest filing with the Securities and Exchange Commission. Taiwan Semiconductor Manufacturing Company is the second-largest holding at just under $350 million.

However, the university faces mounting financial pressures from the federal government. Federally-sponsored research revenue declined 19.5% to $509 million in fiscal 2026. Harvard's chief financial officer and treasurer said in the annual report that the federal excise tax on the endowment's net investment income will rise from 1.4% to 8%, costing roughly $300 million a year. They noted that in a year of returns like 2026, the tax would be several times larger than that estimate.

How it is being reported

• Harvard’s endowment jumps 27% in fiscal 2026, lifted by SpaceX as top holdingThe latest 12-month period marked the strongest return for the university's fund since 2021.CNBC · 15 Oct, 20:53
• Harvard endowment returns surge on back of AI and SpaceX investmentsIvy League university’s $68bn fund gained 27.1% in its second-best annual performance on record as private capital holdings reboundFinancial Times · 15 Oct, 19:08

In this story: Harvard University · SpaceX · Taiwan Semiconductor Manufacturing Company · Elon Musk

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