STOCKS | UNC Endowment Posts 37.8% Return on SpaceX Investment

According to Sina Finance, the University of North Carolina endowment posted a 37.8% return for the fiscal year ended in June, outperforming peers on the back of its investment in SpaceX. Wilshire Trust Universe Comparison Service estimated that the median return for the top 18.9% of endowments with more than $500 million in assets over the same period was 18.9%. The University of North Carolina endowment still holds more than $1 billion of SpaceX shares, and the investment gains will help ease financial pressure from federal research funding cuts and declining enrollment.