Harvard’s endowment hits $68 billion on SpaceX and AI bets

A 27.1% return powered by venture capital, public equities and hedge funds left most peers well behind in fiscal 2026 Harvard’s endowment had the kind of year most fund managers only describe in hypothetical pitch decks. The university’s investment pool returned 27.1% for fiscal year 2026, which ended on June 30, 2026. That pushed the endowment to a record $68 billion, an increase of $11 billion from the prior year. The big drivers were a sizable SpaceX position and a cluster of artificial intelligence investments. In a year when the median large endowment returned roughly 18.9%, Harvard finished more than eight percentage points ahead. The headline holding is SpaceX. Harvard Management Company (HMC), which runs the endowment, disclosed a $2.2 billion stake in the company in August 2026.

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