Harvard Fund Discloses $2.2 Billion Stake In Musk's SpaceX

Harvard Management Co. disclosed a $2.2 billion stake in SpaceX, showing how the university's endowment has profited from an early bet on Elon Musk's giant rocket company.

Harvard reported it holds the position in its 13F filing on Friday, revealing it's one of the largest endowment holders of the stock. Space Exploration Technologies Corp. is the largest single stock disclosed in the filing, which shows Harvard held $4.3 billion of US equities. Harvard oversaw $57 billion as of June 2025, the latest publicly available figure. 

SpaceX's record-breaking initial public offering in June has boosted returns for college endowments that made investments through venture capital firms, sometimes more than a decade ago. 

Others that have profited include the University of California's investment arm, which reported in a filing this week a position worth about $1 billion, as well as the University of North Carolina and Washington University in St. Louis.  

Harvard's holdings potentially reflect both directly owned shares and distribution from private funds. Patrick McKiernan, a spokesman for Harvard Management, declined to comment on individual investments. 

The gains from SpaceX, which currently has a more than $1.8 trillion valuation, come at time when US university finances are constrained from threats to federal research funding, a smaller pool of college-age students due to demographic changes and muted returns from private equity. Endowment funds with more than $500 million returned a median of 18.9% before fees in the year ended in June, according to Wilshire Trust Universe Comparison Service.

SpaceX shares have fluctuated since the company debuted at $135. Shares fell 0.9% on Friday, closing at $140.

Money managers overseeing more than $100 million in US equities have to file a 13F form within 45 days of the end of each quarter to list their holdings in stocks that trade on US exchanges.
 

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)

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Independence Day 2026: Dos And Don'ts For Hoisting The National Flag

Every year on August 15, India celebrates Independence Day by remembering the sacrifices of freedom fighters who fought for the nation's liberty. The Tricolour is hoisted across the country, from homes to commercial locations, and the national anthem is sung with pride. August 15, 1947, marked the end of nearly 200 years of British rule as India began its journey as a democratic, sovereign nation. Since then, the day has been commemorated with flag-hoisting ceremonies, cultural programmes and tributes to those who gave their lives fighting against colonial rule.

According to traditional protocol, the national flag should be hoisted at sunrise and lowered at sunset. However, following the 2022 amendment to the Flag Code of India, the flag can now be flown at night if it is adequately illuminated. On Independence Day, the flag is specifically hoisted from the bottom of the flagpole to the top, symbolising India's triumph over colonial rule in 1947.

Rules For Hoisting The Indian National Flag On August 15

Dos for Hoisting the Tricolour

• The flag should always be hoisted briskly and lowered slowly with dignity. The saffron band must be at the top when hoisted vertically.
• Display the flag in a position of prominence, ensuring it is not overshadowed by other flags or objects.
• When displayed horizontally, the saffron band should be at the top. When displayed vertically, the saffron band should be on the left side as viewed by the audience.
• Ensure the flag is clean, undamaged, and free from tears or discolouration.
• The flag can be made of hand-spun, hand-woven, or machine-made cotton, polyester, wool, or silk khadi bunting, as per the Flag Code.
• The flag can be flown on all days, including Sundays and holidays, by individuals, private organisations, and educational institutions, as per the amended Flag Code of 2002.
• The flag may be flown at night only if it is well-lit and prominently displayed.
• The flag's proportions (length to width ratio of 3:2) must be maintained, regardless of size.
• During ceremonies, the flag may be used to cover a statue or monument being unveiled, but should not touch the ground or floor.
• A damaged or soiled flag should be disposed of privately by burning or in a manner consistent with its dignity.

Don'ts for Hoisting the Tricolour

• The flag must not be used in a manner that insults its dignity, such as dipping it in salute to any person or thing.
• The flag must not be flown upside down (saffron band at the bottom) or in a manner that disrespects it.
• The flag must not touch the ground, floor, or water.
•  The flag must not be used for commercial purposes, such as on costumes, cushions, napkins, or other items, except as permitted (e.g., paper flags during national events).
• The flag should not be used as a covering for a building, vehicle, or platform, nor as a drapery, except in state or military funerals.
• The flag must not be flown below or alongside another flag in a way that diminishes its prominence.
• The flag must not have any writing, printing, or defacement on it.
• The flag or its design must not be used as clothing, uniforms, or accessories below the waist, though flag pins or emblems may be worn respectfully.
• The flag must not be intentionally torn, burned, or mutilated in public, as this is an offence under the Prevention of Insults to National Honour Act, 1971.
• The flag should not be stored in a way that could soil or damage it.

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Walter puts dominant Super Giants in Hundred final

All-rounder Paul Walter is the unlikely star with 80 off 46 balls as Manchester Super Giants comfortably beat Sunrisers Leeds to reach the men's Hundred final.

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Ashwin Names India Player Who 'Can Be King Of Sub-Continent'. Not Gill

Suddenly, Sarfaraz Khan is back in the conversation. After spending most of the last two years outside the national team, Sarfaraz Khan received a call-up for the two-Test series against Sri Lanka after Sai Sudharsan failed to regain fitness in time. Sarfaraz last played for India against New Zealand in November 2024, a series that saw India suffer their first home series loss in 12 years. The defeat was also India's first-ever whitewash at home. He had made his Test debut earlier that year against England at home.

Sarfaraz was also named in India's squad for the 2024-25 Border-Gavaskar Trophy tour of Australia but did not get a game. In six Tests and 11 innings for India, he has scored 371 runs at an average of 37.10, including a century and three fifties, with a best score of 150.

There is buzz around whether Sarfaraz should be preferred over Dhruv Jurel in a middle-order role. India great Ravichandran Ashwin says the Indian team management, led by captain Shubman Gill and head coach Gautam Gambhir, should communicate properly with Sarfaraz.

"I'll start with Jurel. Sarfaraz came into the squad because of Sai Sudharsan's injury. The messaging is very important for Sarfaraz. If you feel he is a suspect in certain conditions, you need to give him clarity. You need to tell him that he can serve the team in sub-continental conditions," Ashwin said on his YouTube channel, Ash Ki Baat.

"So that way, even Sarfaraz won't waste his time on the rest of the things. He can focus on playing good spin, and he can become the king of the sub-continental conditions. He can build his career. If you feel he cannot work in certain conditions, then communicate that to him."

Meanwhile, former India batter WV Raman said he would prefer Sarfaraz Khan over Dhruv Jurel in the side's playing XI for the first Test against Sri Lanka, starting in Galle on Saturday, citing the visitors' need for a frontline batter in the middle order who can attack the hosts' spin bowling line-up.

India must fill two vacant batting slots from a pool of three players: Devdutt Padikkal, Jurel, and Sarfaraz, as they open their series against Sri Lanka. With Padikkal expected to seal the No. 3 spot in B Sai Sudharsan's absence, the remaining contest is between Jurel and Sarfaraz.

"I would tend to think that in a Test match, you will have to go for the specialist. Dhruv Jurel has done well as a wicketkeeper-batter. He gets some runs. But this man has also done well, the young boy Sarfaraz Khan. So, I think if you have picked him in the side as a specialist batter for Test cricket, I would rather go with him.

"But he is also a very good player of spin. He can be an attacking option. The other thing that he will bring to the table is that he is also a good close-in catcher, and that is perhaps something that you would need, especially if Sri Lanka dishes out a turning track," Raman told IANS in an exclusive conversation facilitated by Sony Sports Network on Thursday.

Both Jurel and Sarfaraz made their Test debuts against England in Rajkot in February 2024, and their journeys have been very different since. Jurel has been a regular in the set-up as a wicketkeeping backup to Rishabh Pant while also playing as a specialist batter on occasion.

A much fitter Sarfaraz, meanwhile, was called up as a replacement for the injured Sudharsan, thus marking his return to the side after being unused during the 2024-25 Border-Gavaskar Trophy series in Australia.

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