Harvard Endowment Cuts Holdings ~ market folly

Tuesday, February 17, 2009

Harvard Endowment Cuts Holdings

If you missed it, Harvard has reduced its holdings and I thought it was worth highlighting, since so many people are interested in what the Ivy endowments are up to,

"Harvard University's endowment, the largest in higher education, cut by two-thirds its direct holdings of publicly traded stocks and funds during the market plunge in last year's fourth quarter.

As of Dec. 31, Harvard Management Co., which oversees the endowment, held about 70 stocks and publicly traded funds that were valued at $571 million, according to a filing with the Securities and Exchange Commission. Three months before, the endowment held about 200 stocks and other vehicles valued at just under $2.9 billion."

Link: WSJ

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