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University of Virginia: endowment and investment office
University of Virginia reports USD 18.80 billion in uvimco long term pool, including associated organizations for June 30, 2026. Balance source
UVIMCO reports $18.8 billion in its Long Term Pool at June 30, 2026, alongside $103.8 million in its Short Term Pool. The LTP returned 27.0% for the year and 12.0% annually over ten years. Within the LTP, $9.6 billion belongs to the Rector and Visitors' endowment, $2.3 billion to the Strategic Investment Fund, $2.5 billion to other long-term university assets, and $4.4 billion to associated organizations. These components reconcile to the pooled total. Official report
Key facts
- Reported value
- USD 18.80 billion
- As of
- June 30, 2026
- Portfolio
- UVIMCO Long Term Pool
- Investment office
- University of Virginia Investment Management Company
Endowment size and reporting scope
The latest balance is labelled uvimco long term pool, including associated organizations and is dated June 30, 2026. The return series identifies the portfolio as UVIMCO Long Term Pool. The historical survey below retains the respondent scope reported to NACUBO. A pooled investment vehicle can include working capital, reserves or assets for associated organizations alongside endowed gifts. Each participating fund owns its own economic interest in that vehicle. The pool's market value, the institution's endowment balance and the investment manager's corporate assets describe different quantities. Official report
| Fiscal year | Survey endowment, USD millions |
|---|---|
| FY2016 | 5,852.3 |
| FY2017 | 6,393.6 |
| FY2018 | 6,953.4 |
| FY2019 | 7,058.2 |
| FY2020 | 7,255.7 |
| FY2021 | 10,532.7 |
| FY2022 | 9,858.4 |
| FY2023 | 9,799.9 |
| FY2024 | 10,217.2 |
| FY2025 | 11,229.8 |
The survey series begins at USD 5,852.3 million in FY2016 and ends at USD 11,229.8 million in FY2025. Its USD 5,377.5 million change is measured after gifts, spending and other balance movements. NACUBO historical values FY2025 respondent table
Investment returns
| Portfolio | Period end | Horizon | Reported return |
|---|---|---|---|
| UVIMCO Long Term Pool | June 30, 2026 | 1 year | 27% |
| UVIMCO Long Term Pool | June 30, 2026 | 10 years, annualized | 12% |
Fee basis: Gross of UVIMCO management and incentive fees; net of underlying manager fees.
The 1-year result is 27%, while the 10-year result is 12% annually. The trailing periods share the same end date and overlap; their percentages are not added together. A long-term annualized return describes compound growth over the full period. The year-end asset balance also reflects money entering or leaving the portfolio. Return series
Asset allocation
| Published category | Weight |
|---|---|
| Public equity | 27.7% |
| Long/short equity | 9.1% |
| Private equity | 28.5% |
| Real assets | 15.6% |
| Absolute return | 8.6% |
| Credit | 4.6% |
| Fixed income | 4.5% |
| Cash | 1.4% |
Actual LTP allocation at June 30, 2025. Allocation report
Spending policy and payout
UVIMCO's FY2026 report records more than $900 million in LTP distributions for the university and its associated organizations. That is a participant-pool distribution, not a university-only endowment draw. The report also identifies more than $4 billion in investment gains. Participant withdrawals and investment performance enter the fund's roll-forward as different flows. Spending disclosure
The policy formula controls how the operating budget receives support across market cycles. Its averaging base can differ from the latest fiscal-year-end balance. The dollar distribution records support for a stated year, while a budget-support percentage measures the institution's reliance on that support. Distribution basis
Governance and investment office
UVIMCO manages investments for the University of Virginia and associated organizations. The annual report separates the Long Term Pool from the Short Term Pool and identifies the different participant groups. Its board oversees the investment program and its long-term risk objectives. Investment governance
Federal excise tax on investment income
The private-college investment-income excise tax does not apply to state colleges and universities described in IRC 511(a)(2)(B). Section 4968 expressly retains that exclusion after the 2025 changes. This public university or system is therefore outside the private-college tier schedule. Public Law 119-21, Section 70415
The new 1.4%, 4% and 8% rates apply to qualifying private institutions for tax years beginning after December 31, 2025. They measure tax on net investment income, not a charge on endowment market value. Separately incorporated foundations and investment managers retain their own filing obligations. A system-wide portfolio value does not determine every related entity's tax treatment, and a manager's corporate assets do not measure the endowment pools it serves. Institutional reporting scope
FY2025 size-band comparison
The FY2025 NACUBO respondent value of USD 11,229.8 million places this reporting entity in the Over $5B band. The published group contains 30 respondents. Its average annualized five-year return was 11.4%, its ten-year average was 8.9%, and its average effective spending rate was 5.0%. These are survey averages for FY2025. Respondent counts Average net returns Spending-rate table
| NCSE measure | FY2025 average |
|---|---|
| One-year net return | 11.8% |
| Five-year annualized net return | 11.4% |
| Ten-year annualized net return | 8.9% |
| Effective spending rate | 5.0% |
The size band follows the survey's FY2025 respondent balance. It does not change when a newer pool figure covers additional assets. Survey respondent values and managed-pool values retain their separate scopes. Survey allocation definitions
Public records and reporting dates
The official investment report supplies the portfolio figures and measurement dates on this page. The institution or related reporting entity also has a public nonprofit filing record. Tax-return assets and expenses cover that legal filer and can be broader than its endowment. Nonprofit filing record
Sources
- https://uvimco.org/annual-report/annual-report-2026/
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/research/Final-Endowment-Market-Values--2023-to-1974-Revised.xlsx
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Endowment-Market-Values-for-US-and-Canadian-Institutions-FINAL.xlsx
- https://uvimco.org/wp-content/uploads/2025/08/UVIMCO_AnnualReport2025_Proof6.pdf
- https://www.congress.gov/119/plaws/publ21/PLAW-119publ21.pdf
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--Number-of-NCSE-Participants-FINAL.pdf
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--10-Year-Returns-by-Size-and-Type-FINAL.pdf
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--Spending-Rates-FINAL.pdf
- https://edge.sitecorecloud.io/nacubo1-nacubo-prd-dc8b/media/Nacubo/Documents/EndowmentFiles/2025-NCSE-Public-Tables--Summary-Asset-Allocations-FINAL.pdf
- https://projects.propublica.org/nonprofits/organizations/546001796
- https://endowments.com/
- https://familyoffices.com/
Related profiles
- The Regents of the University of California (USD 20.15 billion)
- University of Michigan (USD 21.20 billion)
- The Texas A&M University System & Related Foundations (USD 22.23 billion)
- The University of Texas System (USD 27.17 billion)
- Shriners Children's (USD 11.28 billion)
- Vanderbilt University (USD 12.70 billion)
Lists that include University of Virginia
- Virginia endowments
- Endowments of $10 billion or more
- Endowments over $5 billion
- Largest endowments by state and institution group
- Largest public institution endowments
- Top 100 endowments by FY2025 survey size
- Top 25 endowments by FY2025 survey size
- Top 50 endowments by FY2025 survey size
- University endowments
