News about endowment

Harvard University's endowment, valued at nearly $68 billion, invests in about 15,000 funds and also holds individual stocks, with 75% of its public equity portfolio in five AI stocks. SpaceX (SPCX) is the largest holding at over 52% of that portfolio, though its $2.2 billion stake is only about 3% of the total endowment. Taiwan Semiconductor (TSM) accounts for more than 8%, Cerebras Systems (CBRS) nearly 6%, Amazon (AMZN) over 5.5%, and Alphabet (GOOGL, GOOG) nearly 4%. The article highlights each company's growth potential, such as AWS's backlog of nearly $500 billion and Cerebras' wafer-sized chips, which it says are 30 times faster than GPUs for inference.

Harvard's endowment grew by more than $11 billion to nearly $68 billion in fiscal year 2026 after a roughly 27% investment return, its highest since 2021. The university reported a $100 million operating surplus, a 1.5% margin on $6.7 billion in revenue, after a $113 million operating loss in fiscal 2025, though unrestricted funds still ran a $78.7 million deficit. The endowment tax will rise from 1.4% to 8%, and Harvard's tax liability jumped from $317 million to $1.9 billion, mostly reflecting estimated future taxes on unrealized gains. Salaries fell by $104 million through a hiring freeze, attrition and restructurings, while legal fees rose 58% in fiscal 2025 amid court battles with the Trump administration.