Harvard Management Co. disclosed a $2.2 billion stake in SpaceX, showing how the university’s endowment has benefited from an early bet on Elon Musk’s giant rocket company. Harvard reported holding the position in its 13F filing on Friday, revealing that it is one of the largest holders of the stock. Space Exploration Technologies Corp. is the largest individual stock disclosed in the filing, which shows Harvard owned $4.3 billion in U.S. stocks. Harvard was overseeing $57 billion as of June 2025, the latest publicly available figure. SpaceX’s record initial public offering in June has boosted returns for university endowments that made investments through venture capital firms, sometimes more than a decade ago. Others that have benefited include the investment arm of the University of California, which reported in a statement this week a position worth about $1 billion, as well as the University of North Carolina and Washington University in St. Louis. Harvard’s holdings potentially reflect both direct ownership shares and private fund allocations. Patrick McKiernan, a spokesman for Harvard Management, declined to comment on individual investments. The gains from SpaceX, which currently has a valuation of more than $1.8 trillion, come at a time when the finances of American universities are constrained by threats to federal research funding, a smaller pool of college-age students due to changing demographics and poor returns on private equity. Endowments with more than $500 million earned an average return of 18.9% before fees in the year that ended in June, according to Wilshire Trust Universe Comparison Service. SpaceX shares have fluctuated since the company debuted at $135. Shares fell 0.9% on Friday and closed at $140. Money managers overseeing more than $100 million in U.S. stocks are required to file a Form 13F within 45 days of the end of each quarter to list their holdings in stocks listed on U.S. exchanges. Fortune Daily breaks the traditional barrier between audience and newsroom. The program transforms Fortune’s trusted reporting into practical, conversational and entertaining insights for an emerging class of business leaders. Look here.
