evidence: Endowment assets are concentrated, with 12% of institutions holding 75% of all endowment assets in 2017. Institutions with the largest endowments (Yale, Princeton, Harvard, and Stanford) each hold more than 4% of total endowment assets. [...] Harvard University had the largest endowment in FY2017, totaling more than $36.0 billion. On a per-student basis, Harvard's endowment was $1.5 million in FY2017. A total of five institutions had total endowment assets of $15.0 million or more, and a per-student endowment of at least $1.3 million (Harvard, Yale, Stanford, Princeton, and MIT). Endowment wealth is highly concentrated in these top institutions, with Harvard holding 6.4% of all endowment assets reported to NACUBO in FY2017. Yale held 4.8% of endowment assets in that same year, with Princeton holding 4.2% of endowment assets. [...] Table B-1 lists the top 100 U.S. college and university endowments reported to NACUBO as of FY2017, including both public and private institutions. Harvard University has the largest endowment, at $36.0 billion. Harvard held 6.4% of all endowment assets reported to NACUBO as of FY2017. The second-largest endowment was held by the Yale University system, at $27.2 billion, or 4.8% of all endowment assets. Taken together, the top 100 institutions listed in Table B-1 held 76.2% of endowment assets as of FY2017.