Harvard said its endowment rose 27.1% in fiscal 2026 to nearly $68 billion, its best return since 2021. The gain came despite pressure from the Trump administration and a higher federal excise tax.
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01Summary
- 01Harvard University's endowment rose 27.1% in fiscal year 2026, the school said in its annual financial report on Thursday.
- 02The fund now totals nearly $68 billion and beat the S&P 500's 22.3% total return by 4.8 percentage points.
- 03Harvard said its endowment had its strongest return in five years and its best year since 2021.
- 04Harvard disclosed a $2.2 billion stake in SpaceX in a second-quarter 13F filing, making it the endowment's largest single holding by value.
- 05Federally-sponsored research revenue fell 19.5% to $509 million, and the federal excise tax on net investment income is set to rise from 1.4% to 8%.
02Why it matters
Harvard's endowment is one of the largest in the world, so its returns are closely watched for signs of how major assets are performing. The higher tax burden and funding pressure also show how policy changes can affect a university's finances.
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