Harvard Management Co. has disclosed a $2.2 billion stake in SpaceX, illustrating how the university’s endowment has profited from early investments in Elon Musk’s aerospace firm. The position, revealed in a 13F filing on Friday, establishes Harvard as one of the largest endowment holders of the company's stock.
A Dominant Holding
Space Exploration Technologies Corp. stands as the largest single stock disclosed in the filing, which shows Harvard held $4.3 billion in US equities. As of June 2025, Harvard oversaw a total of $57 billion. The record-breaking initial public offering (IPO) of SpaceX in June has significantly boosted returns for university endowments that entered the investment through venture capital firms, sometimes over a decade ago.
Wider Gains Across Institutions
Harvard is part of a broader group of academic institutions benefiting from SpaceX’s growth. Other notable gainers include:
- The University of California’s investment arm, reporting a position worth approximately $1 billion.
- The University of North Carolina.
- Washington University in St. Louis.
The gains from SpaceX, which currently holds a valuation exceeding $1.8 trillion, arrive at a critical time. US university finances are currently facing constraints due to threats to federal research funding, a shrinking pool of college-age students, and muted returns from private equity investments.
Market Performance and Regulations
SpaceX shares have fluctuated since debuting at $135. On Friday, the stock fell 0.9% to close at $140. Under regulatory requirements, money managers overseeing more than $100 million in US equities must file a 13F form within 45 days of the quarter's end to list their holdings on US exchanges. Patrick McKiernan, a spokesman for Harvard Management, declined to comment on the specific investment.
