Endowment Scrolly
Each dot represents one organization in one year of Harvard’s tax filings. The same fund appears again for every year it stayed on the list.
394 in fiscal 2016. 258 in fiscal 2025. Over the same decade the endowment grew to $57 billion and moved roughly 90 percent of its money to outside managers.
737 in the Cayman Islands. 304 in Brazil. Delaware, in black, is the largest single home — but only 1,347 of the 3,383 sit in any U.S. state.
Harvard’s own shells account for 1,122 of the lines. Bain Capital entities, 494. Gordian Bioenergy, 333. The rest are spread across 148 other firms.
In the fiscal 2025 filing, three vehicles are run by firms that invest in oil and gas. Harvard’s reported share of their assets came to $897.7 million.
Harvard’s tax return names the first three links. The last two come from securities and investment-adviser filings.
Some of these funds can be traced directly to companies you would know, using securities filings, corporate registries and foreign regulators.
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