INTERNATIONAL - Havard is betting big on a rally in tech megacaps.
The university’s endowment took on new stakes in Apple, Microsoft and Google’s parent Alphabet in the first quarter, and they now account for more than two-thirds of the publicly traded US securities in its portfolio.
Harvard Management Company bought 1.69million Apple shares, 1.85million Microsoft share and 129000 Alphabet shares, a filing shows. It didn’t hold these companies previously.
Together, the three companies account for about 72percent of the $816.8million (R9.99billion) worth of publicly traded securities listed in the filing. Harvard’s total endowment is $37.1bn.