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The University of North Carolina’s endowment returned 37.8% in the fiscal year ended June 30, helped by an early investment in SpaceX that has generated substantial gains following the rocket company’s initial public offering, Bloomberg reported

The return was about double the 18.9% median estimated by the Wilshire Trust Universe Comparison Service for endowment funds managing more than $500 million.
University of North Carolina Management Co. described the period as an "extraordinary year," with global equities contributing to performance and its SpaceX exposure providing a strong boost.
UNC invested in SpaceX more than 15 years ago through a fund that held the Elon Musk-founded company. The original investment amounted to only a few million dollars.
The endowment sold about $1 billion of SpaceX shares ahead of the company’s IPO, people familiar with the matter previously told Bloomberg. UNC still held more than $1 billion of SpaceX stock as of August.
SpaceX shares closed Friday at $152.71, about 13% above the company’s $135 IPO price, giving it a market capitalization of more than $2 trillion.
The gains highlight the potential benefits university endowments can receive from long-term exposure to private technology companies before they reach public markets.
Other large U.S. university endowments could also report stronger returns for the fiscal year, depending on their exposure to SpaceX and private artificial intelligence companies such as OpenAI and Anthropic.
UNC’s investment gains come as universities face financial pressure from federal research funding cuts, a declining pool of prospective students and weaker returns from some private equity investments in previous years.
The endowment recorded annualized returns of 20.1% over three years, 12.5% over five years and 13.5% over 10 years.
University of North Carolina Management Co. managed $17 billion as of June 30, including UNC-Chapel Hill’s $8.2 billion endowment.
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The mega hit SpaceX hitting Nasdaq just turned the entire US stock market green at the open! 🚀🇺🇸
But it's true what they say, 'some eat too much while others can't even get a bite,' Wall Street's cash flow is ruthlessly practical: traders are cashing out and fleeing from money-burning space travel companies like Virgin Galactic, causing its stock to nosedive 14% as they funnel their capital into holding SpaceX for safety.
Meanwhile, the AI chip sector is still catching its breath after Broadcom's fiasco, and Bitcoin is holding its breath as it watches the cash flow swirl around the $63k mark.
Today’s financial circus is all about the 'space king' Elon Musk! 💸💫
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