Harvard University's endowment grew 27.1% in fiscal 2026, its strongest return in five years, and beat the S&P 500's 22.3% total return by 4.8 percentage points to nearly $68 billion, despite Trump administration actions to penalize the school and withhold funding. Its largest single holding was a $2.2 billion stake in SpaceX, followed by Taiwan Semiconductor Manufacturing Company at just under $350 million. Federally sponsored research revenue fell 19.5% to $509 million, and the federal excise tax on its net investment income is rising from 1.4% to 8% this fiscal year, which Harvard estimates will cost about $300 million a year. President Alan Garber said Harvard can still succeed despite the headwinds.
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Original headline: Harvard’s endowment jumps 27% in fiscal 2026, lifted by SpaceX as top holding
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