Major American universities hold billions in SpaceX stock

Institutional investors typically favor diversified portfolios to minimize risk, yet several major American universities have built unusually large positions in SpaceX. The University of North Carolina system, which manages a 15 billion dollar endowment, has approximately 10 percent of its total value tied to the rocket company. This concentration is largely the result of an early 2008 investment made through Peter Thiel's Founders Fund.