Markets

Insider Trading

Hedge Funds

Retirement

Opinion

Harvard University Stock Portfolio: Top 10 Picks

In this article, we discuss the top 10 picks of the Harvard University stock portfolio. If you want to see more stocks in this selection, check out Harvard University Stock Portfolio: Top 5 Picks

Harvard Management Company was established in 1974 and manages Harvard University’s endowment and financial assets. Over the years, the market-beating performance of Harvard Management Company has contributed billions of dollars to Harvard University. The value of Harvard University’s endowment declined by $2.3 billion in 2022, after Harvard Management Company posted a 1.8% loss on its investments. This marks the first year of negative returns since 2016. This is a distinct contrast to the record-high 33.6% returns that Harvard Management Company reported last year.

Harvard Management Company’s loss is primarily attributed to skyrocketing inflation and high interest rates, which have created havoc in the global financial markets. The endowment underperformed due to “the poor performance of global equity markets”, noted HMC CEO N.P. Narvekar. Overall, the performance of the Harvard University stock portfolio was satisfying relative to the global equity markets. The portfolio was previously managed by Jane Mendillo, and she served as the president and chief executive officer of the endowment before departing from her position in 2014, after 21 years with HMC. She is an American investor, endowment fund manager, and philanthropist. 

The endowment contributed $2.1 billion towards the university’s operational budget for the fiscal year 2022, accounting for 36% of the annual revenue. Harvard concluded the fiscal year with a budget surplus of $406 million. Harvard Management Company has delivered upbeat returns historically, which makes it a good idea to follow its investment strategy. Some of the best stocks in the Harvard University stock portfolio include Meta Platforms, Inc. (NASDAQ:META), Alphabet Inc. (NASDAQ:GOOG), and Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM). 

benjamin-rascoe-RxIIEFEvybo-unsplash

Our Methodology 

We used Harvard Management Company’s stock portfolio for the second quarter of 2022 for this analysis. The following stocks are listed according to the firm’s stake value in each holding. We have assessed the hedge fund sentiment from Insider Monkey’s database of 895 elite hedge funds tracked as of the end of the second quarter of 2022. 

Harvard University Stock Portfolio: Top Picks

10. NVIDIA Corporation (NASDAQ:NVDA)

Harvard Management Company’s Stake Value: $10,061,000

Number of Hedge Fund Holders: 84

NVIDIA Corporation (NASDAQ:NVDA) is a California-based provider of graphics, computing, semiconductors, and networking solutions in the United States, Taiwan, China, and internationally. Harvard Management Company initially invested in NVIDIA Corporation (NASDAQ:NVDA) during the fourth quarter of 2021. In Q2 2022, the hedge fund increased its stake in the firm by 153%, holding 66,368 shares worth over $10 million. 

Needham analyst Rajvindra Gill on October 25 maintained a Buy recommendation on NVIDIA Corporation (NASDAQ:NVDA) but lowered the price target on the stock to $155 from $170 as part of a broader research note on Semiconductors and Semiconductor Equipment. Semiconductor stocks will not reach a bottom until Wall Street indicates negative revenue and EPS growth year-over-year in 2023, similar to earlier cycles, the analyst told investors. He noted that market estimates are still reflecting a positive growth rate. 

In Q2 2022, NVIDIA Corporation (NASDAQ:NVDA) lost favor with hedge funds. According to Insider Monkey’s data, 84 funds reported owning stakes worth $3.3 billion in NVIDIA Corporation (NASDAQ:NVDA) at the end of June 2022, compared to 102 funds in the prior quarter worth $6.3 billion. Ken Fisher’s Fisher Asset Management held a prominent stake in the company at the end of Q2, comprising 7.6 million shares worth $1.15 billion. 

In addition to Meta Platforms, Inc. (NASDAQ:META), Alphabet Inc. (NASDAQ:GOOG), and Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), NVIDIA Corporation (NASDAQ:NVDA) is one of the top stock picks of the Harvard University stock portfolio. 

Here is what Baron Fifth Avenue Growth Fund has to say about NVIDIA Corporation (NASDAQ:NVDA)  in its Q2 2022 investor letter:

“At the company-specific level, there was a broad correction across the entire portfolio. While four of our holdings contributed to performance, the contribution to absolute returns was less than 100 bps combined, as unfortunately none of them were large enough to move the needle. We had 16 investments detracting over 100 bps each with NVIDIA (NASDAQ:NVDA), our second largest detractor, costing the Fund 254 bps.

NVIDIA’s stock was hit even harder, down 44.4%, impacted by concerns over the health of the consumer, dramatic declines in crypto, and COVID-related lockdowns in China. Despite the sell-off and the increased near-term volatility in its gaming business, NVIDIA’s revenues grew 46% year-over-year with 48% operating margins, driven by continued strength in its data center business as companies across industries adopt AI and ML…” (Click here to see the full text)

9. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX)

Harvard Management Company’s Stake Value: $12,285,000

Number of Hedge Fund Holders: 17

Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) was incorporated in 2013 and is headquartered in Salt Lake City, Utah. It operates as a clinical-stage biotechnology company, utilizing biology, chemistry, automation, data science, and engineering to commercialize drug discovery. Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) has been part of the Harvard University stock portfolio since Q2 2021. In the second quarter of 2022, the fund owned 1.50 million Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) shares worth $12.2 million, representing 1.42% of the total 13F securities. 

On October 25, Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) announced that it has entered into a stock purchase agreement for the sale of approximately 15.3 million units of its common stock in a private placement, led by investment firm Kinnevik AB. Gross proceeds of the private placement are expected to be nearly $150 million, before accounting for agent fees and other expenses to be paid by Recursion. The net proceeds will be utilized for general corporate purposes, including investments in advancing the firm’s current clinical and preclinical programs.

KeyBanc analyst Scott Schoenhaus initiated coverage of Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) on September 15 with an Overweight rating and a $20 price target. The analyst noted that Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) is at the “forefront” of an emerging industry, and the company utilizes cloud computing and data science to “disrupt” traditional drug discovery. Four of the company’s drug development programs are in clinical trials, added the analyst.

According to Insider Monkey’s data, 17 hedge funds were long Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) at the end of June 2022, compared to 20 funds in the last quarter. MIC Capital Partners held the biggest stake in the company, consisting of 8.45 million shares worth $68.8 million. 

Here is what Lux Capital has to say about Recursion Pharmaceuticals, Inc. (NASDAQ:RXRX) in its Q2 2022 investor letter:

“As we discussed before describing “Extensionalism”, one of our theses has been the growing convergence between the biological and technological, the organic and inorganic, man and machine. Lux has made investments in the digitization, technological capture and amplification of each of the human senses. Consider vision and speech: we have technology that can rapidly recognize and label objects from pixels (companies that span defense, biotechnology, manufacturing and transportation like, Recursion (NASDAQ:RXRX), and others that can rapidly generate videos, images, and even more complex language from simple inputs.”

8. Revolution Medicines, Inc. (NASDAQ:RVMD)

Harvard Management Company’s Stake Value: $13,066,000

Number of Hedge Fund Holders: 20

Revolution Medicines, Inc. (NASDAQ:RVMD) is a California-based clinical-stage precision oncology company, focused on developing therapies for RAS-addicted cancers and solid tumors. As per regulatory filings for the second quarter of 2022, the Harvard University stock portfolio featured 670,382 shares of Revolution Medicines, Inc. (NASDAQ:RVMD), worth over $13 million and representing 1.51% of the total holdings. The hedge fund has held a position in the firm since Q1 2020. 

On October 20, Oppenheimer analyst Jay Olson initiated coverage of Revolution Medicines, Inc. (NASDAQ:RVMD) with an Outperform rating and a $30 price target. The “pioneering oncology company” has a “potentially best-in-class” KRASG12C inhibitor candidate, RMC-6291, and later-stage RMC-4630, the analyst told investors. He believes Revolution Medicines, Inc. (NASDAQ:RVMD)’s approach is unique as compared to Amgen Inc. (NASDAQ:AMGN) and Mirati Therapeutics, Inc. (NASDAQ:MRTX). The analyst added that Revolution Medicines, Inc. (NASDAQ:RVMD)’s inhibitors “could avoid certain limitations”. 

Among the hedge funds tracked by Insider Monkey, 20 funds reported owning stakes worth $370 million in Revolution Medicines, Inc. (NASDAQ:RVMD) at the end of June 2022, compared to 19 funds in the prior quarter worth $410.4 million. Oleg Nodelman’s EcoR1 Capital is the biggest position holder in the company, with 4.2 million shares valued at $83.3 million. 

7. Grab Holdings Limited (NASDAQ:GRAB)

Harvard Management Company’s Stake Value: $13,586,000

Number of Hedge Fund Holders: 25

Grab Holdings Limited (NASDAQ:GRAB) is a Singapore-based company providing mobility, delivery, financial services, and enterprise offerings through its mobile application in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. The company reported at the end of September that it expects to breakeven on its adjusted EBITDA by the second half of 2024 as it moves towards profitability. 

Securities filings for Q2 2022 reveal that the Harvard University stock portfolio had 5.36 million shares of Grab Holdings Limited (NASDAQ:GRAB), worth $13.5 million and representing 1.57% of the total holdings. The hedge fund strengthened its hold on the stock by 46% in the June quarter. 

Barclays analyst Jiong Shao on October 10 assumed coverage of Grab Holdings Limited (NASDAQ:GRAB) with an Equal Weight rating and a $3 price target. As a market leader in food delivery and ride-hailing in Southeast Asia, Grab Holdings Limited (NASDAQ:GRAB) has a “very strong competitive position,” the analyst wrote in a research note. However, the analyst remains skeptical whether these businesses “can thrive longer term in the region.” 

According to Insider Monkey’s data, 25 hedge funds were long Grab Holdings Limited (NASDAQ:GRAB) at the end of June 2022, compared to 27 funds in the last quarter. Brett Barakett’s Tremblant Capital is the biggest position holder in the company, with 28 million shares worth approximately $71 million. 

6. PureCycle Technologies, Inc. (NASDAQ:PCT)

Harvard Management Company’s Stake Value: $18,536,000

Number of Hedge Fund Holders: 23

PureCycle Technologies, Inc. (NASDAQ:PCT) is a Florida-based company that produces recycled polypropylene. Its recycling process separates color, odor, and other contaminants from plastic waste feedstock and turns it into resin. Harvard Management Company owns 2.5 million shares of PureCycle Technologies, Inc. (NASDAQ:PCT) as of Q2 2022, worth $18.5 million and representing 2.14% of the total securities. The stock has been part of the Harvard University stock portfolio since Q1 2021. 

On September 15, Stifel analyst Michael Hoffman initiated coverage of PureCycle Technologies, Inc. (NASDAQ:PCT) with a Buy rating and a $15 price target. The global demand for polypropylene is 178 billion pounds with a forecasted five-year CAGR of 3.8%, the analyst told investors in a research note. He added that he is optimistic about PureCycle Technologies, Inc. (NASDAQ:PCT) as an “attractive” sustainability investment which offers a first mover advantage, while also supporting global consumer packaging companies in terms of meeting high polypropylene recycled plastic content quota.

According to Insider Monkey’s records, PureCycle Technologies, Inc. (NASDAQ:PCT) was part of 23 hedge fund portfolios at the end of the second quarter of 2022, compared to 31 funds in the last quarter. Daniel Patrick Gibson’s Sylebra Capital Management is the leading position holder in the company, with more than 29 million shares worth $216.6 million. 

Like Meta Platforms, Inc. (NASDAQ:META), Alphabet Inc. (NASDAQ:GOOG), and Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM), PureCycle Technologies, Inc. (NASDAQ:PCT) holds a prominent position in the Harvard University stock portfolio. 

Click to continue reading and see Harvard University Stock Portfolio: Top 5 Picks

Suggested articles:

Disclosure: None. Harvard University Stock Portfolio: Top 10 Picks is originally published on Insider Monkey.

The $250 Trillion AI Hype is Real. A few years from now, you’ll probably wish you’d bought this stock.

When Jeff Bezos said that one breakthrough technology would shape Amazon’s destiny, even Wall Street’s biggest analysts were caught off guard.

Fast forward a year and Amazon’s new CEO Andy Jassy described generative AI as a “once-in-a-lifetime” technology that is already being used across Amazon to reinvent customer experiences.

At the 8th Future Investment Initiative conference, Elon Musk predicted that by 2040 there would be at least 10 billion humanoid robots, with each priced between $20,000 and $25,000.

Do the math. According to Musk, this technology could be worth $250 trillion by 2040.

Put another way, that’s roughly equal to:

  • 175 Teslas
  • 107 Amazons
  • 140 Metas
  • 84 Googles
  • 65 Microsofts
  • And 55 Nvidias

And here’s the wild part — this $250 trillion wave isn’t tied to one company, but to an entire ecosystem of AI innovators set to reshape the global economy.

It’s a leap so massive, it could reshape how businesses, governments, and consumers operate worldwide.

Even if that $250 trillion figure sounds ambitious, major firms like PwC and McKinsey still see AI unlocking multi-trillion-dollar potential.

How could anything be worth that much?

The answer lies in a breakthrough so powerful it’s redefining how humanity works, learns, and creates.

And this breakthrough has already set off a frenzy among hedge funds and Wall Street’s top investors.

What most investors don’t realize is that one under-owned company holds the key to this $250 trillion revolution.

In fact, Verge argues this company’s supercheap AI technology should concern rivals.

Before I reveal the details, let’s talk about how some of the richest people on the planet are positioning themselves.

  • Bill Gates sees artificial intelligence as the “biggest technological advance in my lifetime,” more transformative than the internet or personal computer, capable of improving healthcare, education, and addressing climate change.
  • Larry Ellison — through Oracle, is spending billions on Nvidia chips and partnering with Cohere to embed generative AI across Oracle’s cloud and apps.
  • Warren Buffett — not known for tech hype — says this breakthrough could have a ‘hugely beneficial social impact.

When billionaires from Silicon Valley to Wall Street line up behind the same idea — you know it’s worth paying attention to.

Even as we admire what Tesla, Nvidia, Alphabet, and Microsoft have built, we believe an even greater opportunity lies elsewhere…

But the real story isn’t Nvidia — it’s a much smaller company quietly improving the critical technology that makes this entire revolution possible.

And judging by what I’m hearing from both Silicon Valley insiders and Wall Street veterans…

This prediction might not be bold at all:

A few years from now, you’ll wish you’d owned this stock.

The best part? You can discover everything about this company and its groundbreaking technology right now.

I’ve compiled everything you need to know about this groundbreaking company in a detailed, members-only report.

Trust me — you’ll want to read this report before putting another dollar into any tech stock.

For a ridiculously low price of just $9.99 a month, you can unlock a year’s worth of in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Here’s why this is a deal you can’t afford to pass up:

• Access to our Detailed Report on this Game-Changing AI Stock: Our in-depth report dives deep into our #1 AI stock’s groundbreaking technology and massive growth potential.

• 11 New Issues of Our Premium Readership Newsletter: You will also receive 11 new issues and at least one new stock pick per month from our monthly newsletter’s portfolio over the next 12 months. These stocks are handpicked by our research director, Dr. Inan Dogan.

• One free upcoming issue of our 70+ page Quarterly Newsletter: A value of $149

• Bonus Reports: Premium access to members-only fund manager video interviews

• Ad-Free Browsing: Enjoy a year of investment research free from distracting banner and pop-up ads, allowing you to focus on uncovering the next big opportunity.

• 30-Day Money-Back Guarantee:  If you’re not absolutely satisfied with our service, we’ll provide a full refund within 30 days, no questions asked.

If you’re thinking about getting in, don’t wait – because once Wall Street catches wind of this story, the easy money will be gone.

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99 a month.

2. Enjoy a year of ad-free browsing, exclusive access to our in-depth report on the revolutionary AI company, and the upcoming issues of our Premium Readership Newsletter over the next 12 months.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!

No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!

AI, Tariffs, Nuclear Power: One Undervalued Stock Connects ALL the Dots (Before It Explodes!)

Artificial intelligence is the greatest investment opportunity of our lifetime. The time to invest in groundbreaking AI is now, and this stock is a steal!

AI is eating the world—and the machines behind it are ravenous.

Each ChatGPT query, each model update, each robotic breakthrough consumes massive amounts of energy. In fact, AI is already pushing global power grids to the brink.

Wall Street is pouring hundreds of billions into artificial intelligence—training smarter chatbots, automating industries, and building the digital future. But there’s one urgent question few are asking:

Where will all of that energy come from?

AI is the most electricity-hungry technology ever invented. Each data center powering large language models like ChatGPT consumes as much energy as a small city. And it’s about to get worse.

Even Sam Altman, the founder of OpenAI, issued a stark warning:

“The future of AI depends on an energy breakthrough.”

Elon Musk was even more blunt:

“AI will run out of electricity by next year.”

As the world chases faster, smarter machines, a hidden crisis is emerging behind the scenes. Power grids are strained. Electricity prices are rising. Utilities are scrambling to expand capacity.

And that’s where the real opportunity lies…

One little-known company—almost entirely overlooked by most AI investors—could be the ultimate backdoor play. It’s not a chipmaker. It’s not a cloud platform. But it might be the most important AI stock in the US owns critical energy infrastructure assets positioned to feed the coming AI energy spike.

As demand from AI data centers explodes, this company is gearing up to profit from the most valuable commodity in the digital age: electricity.

The “Toll Booth” Operator of the AI Energy Boom

  • It owns critical nuclear energy infrastructure assets, positioning it at the heart of America’s next-generation power strategy.
  • It’s one of the only global companies capable of executing large-scale, complex EPC (engineering, procurement, and construction) projects across oil, gas, renewable fuels, and industrial infrastructure.
  • It plays a pivotal role in U.S. LNG exportation—a sector about to explode under President Trump’s renewed “America First” energy doctrine.

Trump has made it clear: Europe and U.S. allies must buy American LNG.

And our company sits in the toll booth—collecting fees on every drop exported.

But that’s not all…

As Trump’s proposed tariffs push American manufacturers to bring their operations back home, this company will be first in line to rebuild, retrofit, and reengineer those facilities.

AI. Energy. Tariffs. Onshoring. This One Company Ties It All Together.

While the world is distracted by flashy AI tickers, a few smart investors are quietly scooping up shares of the one company powering it all from behind the scenes.

AI needs energy. Energy needs infrastructure.

And infrastructure needs a builder with experience, scale, and execution.

This company has its finger in every pie—and Wall Street is just starting to notice.

Wall Street is noticing this company also because it is quietly riding all of these tailwinds—without the sky-high valuation.

While most energy and utility firms are buried under mountains of debt and coughing up hefty interest payments just to appease bondholders…

This company is completely debt-free.

In fact, it’s sitting on a war chest of cash—equal to nearly one-third of its entire market cap.

It also owns a huge equity stake in another red-hot AI play, giving investors indirect exposure to multiple AI growth engines without paying a premium.

And here’s what the smart money has started whispering…

The Hedge Fund Secret That’s Starting to Leak Out

This stock is so off-the-radar, so absurdly undervalued, that some of the most secretive hedge fund managers in the world have begun pitching it at closed-door investment summits.

They’re sharing it quietly, away from the cameras, to rooms full of ultra-wealthy clients.

Why? Because excluding cash and investments, this company is trading at less than 7 times earnings.

And that’s for a business tied to:

  • The AI infrastructure supercycle
  • The onshoring boom driven by Trump-era tariffs
  • A surge in U.S. LNG exports
  • And a unique footprint in nuclear energy—the future of clean, reliable power

You simply won’t find another AI and energy stock this cheap… with this much upside.

This isn’t a hype stock. It’s not riding on hope.

It’s delivering real cash flows, owns critical infrastructure, and holds stakes in other major growth stories.

This is your chance to get in before the rockets take off!

Disruption is the New Name of the Game: Let’s face it, complacency breeds stagnation.

AI is the ultimate disruptor, and it’s shaking the foundations of traditional industries.

The companies that embrace AI will thrive, while the dinosaurs clinging to outdated methods will be left in the dust.

As an investor, you want to be on the side of the winners, and AI is the winning ticket.

The Talent Pool is Overflowing: The world’s brightest minds are flocking to AI.

From computer scientists to mathematicians, the next generation of innovators is pouring its energy into this field.

This influx of talent guarantees a constant stream of groundbreaking ideas and rapid advancements.

By investing in AI, you’re essentially backing the future.

The future is powered by artificial intelligence, and the time to invest is NOW.

Don’t be a spectator in this technological revolution.

Dive into the AI gold rush and watch your portfolio soar alongside the brightest minds of our generation.

This isn’t just about making money – it’s about being part of the future.

So, buckle up and get ready for the ride of your investment life!

Act Now and Unlock a Potential 100+% Return within 12 to 24 months.

We’re now offering month-to-month subscriptions with no commitments.

For a ridiculously low price of just $9.99 per month, you can unlock our in-depth investment research and exclusive insights – that’s less than a single fast food meal!

Space is Limited! Only 1000 spots are available for this exclusive offer. Don’t let this chance slip away – subscribe to our Premium Readership Newsletter today and unlock the potential for a life-changing investment.

Here’s what to do next:

1. Head over to our website and subscribe to our Premium Readership Newsletter for just $9.99.

2. Enjoy a month of ad-free browsing, exclusive access to our in-depth report on the Trump tariff and nuclear energy company as well as the revolutionary AI-robotics company, and the upcoming issues of our Premium Readership Newsletter.

3. Sit back, relax, and know that you’re backed by our ironclad 30-day money-back guarantee.

Don’t miss out on this incredible opportunity! Subscribe now and take control of your AI investment future!


No worries about auto-renewals! Our 30-Day Money-Back Guarantee applies whether you’re joining us for the first time or renewing your subscription a month later!