Harvard Has a New Biggest Stock Holding: SpaceX

Harvard Management Co., the entity responsible for managing the university's substantial endowment, has announced its largest stock holding: SpaceX. In its most recent quarterly filing, disclosed after market hours on Friday, the firm disclosed a stake of approximately 13 million shares, valued at over $2.2 billion at the time of the filing.

SpaceX, a rocket, artificial intelligence, and connectivity company that went public in June, has seen its shares fluctuate between around $105 and nearly $150 during August. The stock has experienced a 33% increase since hitting a record low two weeks ago. As of early Monday trading, SpaceX shares were up more than 2%, trading at $140, a 5% rise from last week's close, which was already above the company's IPO price but below the $150 at which they initially began trading.

The university's substantial investment in SpaceX reflects the company's growth and popularity among major investors.