Harvard News & Analysis

Harvard's Endowment Grows 27% in 2026, Boosted by SpaceX Stake

Harvard University's endowment increased by 27.1% in fiscal 2026, reaching nearly $68 billion. The growth outperformed the S&P 500's 22.3% total return by 4.8 percentage points. The uplift was largely attributed to a $2.2 billion stake in SpaceX, which became the endowment's largest single holding, followed by a stake in Taiwan Semiconductor Manufacturing Company valued at just under $350 million. Despite challenges, including a 19.5% decline in federally-sponsored research revenue and an increase in the federal excise tax on net investment income from 1.4% to 8%, Harvard's financial team remains optimistic about the endowment's capacity to support the university over time. They emphasize the goal of smoothing distributions to ensure steady operating support despite market volatility. Harvard's president, Alan Garber, noted the university's ongoing commitment to excellence despite these headwinds.