As of Wednesday, Chief Investment Officer David Morehead said he expected the endowment to end the month near $2.5 billion, up from $2.4 billion at the end of September and a further increase from its $2.17 billion balance in May 2025. The endowment contributes 5% of its value back to Baylor each year, so each dollar the endowment makes puts five cents into Baylor’s operating budget.
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Instead of a big city high-rise, Morehead’s team works in a small red brick building in downtown Waco. Suits and ties are replaced with casual (mostly green and gold) clothes. And in an industry that’s mostly men, four out of the office’s five investment professionals are women. It all helps to put the attention on what really matters: making money for Baylor without touching students’ wallets.
