The endowment of the University of Pennsylvania rose 27.4% in fiscal 2026—its second-best year for performance, behind fiscal 2021’s return of 41.1%, the Daily Pennsylvanian reported.
The return created a $7 billion increase in assets, adding a net $6.3 billion to the portfolio.
The endowment, run by the Penn Office of Investments under CIO Peter Ammon, returned 12.2% in fiscal 2025, 7.1% in fiscal 2024, 1.3% in fiscal 2023 and 0.98% in fiscal 2022. The UPenn endowment managed $24.8 billion as of June 30, 2025, the last fiscal year for which it provided this information.
While the investment office has not disclosed its asset allocation or return drivers for the fiscal year ending June 30, several other university endowments have posted returns well into the double digits—primarily driven by the artificial intelligence theme through their venture capital managers and the blockbuster initial public offering of SpaceX.