Harvard Fund Discloses $2.2 Billion Stake in SpaceX

Harvard Management Co. disclosed on Friday a substantial $2.2 billion stake in Elon Musk's aerospace company, SpaceX, as detailed in its 13F filing. This revelation positions Harvard as one of the largest endowment holders of the private company's stock and represents the single largest holding within Harvard's $4.3 billion portfolio of U.S. equities. As of June 2025, Harvard managed a total of $57 billion in assets. The significant valuation of this SpaceX investment underscores the substantial returns generated for university endowments that made early investments, often through venture capital firms, potentially more than a decade ago. This early investment strategy has proven particularly lucrative following SpaceX's record-breaking initial public offering in June. Other university investment arms have also reported substantial profits from their SpaceX holdings. For instance, the University of California's investment arm disclosed a position valued at approximately $1 billion in a filing this week. Similarly, the University of North Carolina and Washington University in St. Louis have also benefited from their investments in the rocket company. Harvard's disclosed holdings may encompass both directly owned shares and distributions from private investment funds. A spokesperson for Harvard Management Co. declined to comment on specific investment details. The substantial gains from SpaceX, which currently boasts a valuation exceeding $1.8 trillion, arrive at a critical juncture for U.S. university finances. These institutions are facing financial pressures stemming from potential threats to federal research funding, a declining pool of college-age students due to demographic shifts, and subdued returns from traditional private equity investments. Endowment funds managing over $500 million reported a median return of 18.9% before fees for the year ending in June, according to data from Wilshire Trust Universe Comparison Service. SpaceX shares have experienced fluctuations since their debut at $135 per share. On Friday, the stock saw a minor decrease of 0.9%, closing at $140. Money managers overseeing more than $100 million in U.S. equities are mandated to file Form 13F within 45 days after the end of each fiscal quarter. This filing requires them to list their holdings in publicly traded stocks on U.S. exchanges. This information was originally reported by Fortune.com.