Harvard University’s financial strength just got even stronger. The Ivy League school’s endowment — already the largest of any university in the world — has swelled to nearly US$57 billion
(S$74 billion) after another year of solid investment gains and record donations.
According to Harvard Management Company (HMC), the university’s investment arm, the endowment grew by about US$4 billion in fiscal year 2025, ending June 30. Investments returned 11.9%, outperforming Harvard’s long-term goal of 8%. That’s an improvement over last year’s **9.6% return**, which brought the fund to US$53.2 billion.
The university also reported a record US$600 million (S$777 million) in unrestricted gifts from alumni and supporters — a show of confidence even as Harvard finds itself in the political spotlight.
President Donald Trump has publicly clashed with the university, accusing it of allowing anti-Semitism on campus amid the Israel-Gaza conflict. Critics, however, argue that his administration’s actions — including cuts to research funding and limits on international student visas — are part of a broader campaign against higher education’s perceived liberal leanings. The dispute has now spilled into the courts.
Despite these challenges, Harvard’s financial engine continues to hum. The endowment’s portfolio remains heavily invested in private equity (41%) and hedge funds (31%), while public equities hold steady at 14%, HMC chief executive N.P. Narvekar wrote in his annual letter.
“Although our results were tempered by having less exposure to public equities than private ones, our overall performance was boosted by careful selection of external managers,” Narvekar said.
Returns from elite universities like Harvard are closely followed across the financial world. These institutions helped pioneer the use of alternative investments such as hedge funds and private equity, and their strategies often influence how other large endowments and pension funds operate.
Harvard President Alan Garber acknowledged the uncertain climate, writing: “We continue to adapt to shifting conditions and threats to our revenue sources,” without mentioning Trump by name.
For now, however, the numbers tell their own story: even amid political tension and funding cuts, Harvard’s financial foundation has never been stronger. Photo by Ingfbruno, Wikimedia commons.
