The University of Louisville Foundation could have been worth $1bn if the maligned organization had avoided spending at an unsustainable rate, according to WHAS ABC. The endowment is currently worth nearly $300m less than that, at $726m.

Vanderbilt University’s endowment posted an 11.5% investment return in the year through June, reports Bloomberg. The endowment climbed $4.1bn, and the fruitful year was attributed to strong capital markets.

Fellow southern belt school Duke University bested its peer, earning a 12.7% return for the 2017 fiscal year, writes the Duke Chronicle. The Durham, North Carolina-based school’s fund increased to $7.9bn after dropping in value in 2016.

Moving west, Stanford posted 13.1% returns for the previous fiscal year. The Palo Alto-based university outgained the median 12.9% return produced by U.S. colleges and universities for the same period, as its endowment achieved $3.2bn in investment gains.

Harvard’s endowment did not suffer from its investment model but rather the implementation of its strategies, argues the Financial Times. The Ivy League School also underperformed its peers due to its managerial instability over the past half a decade.