In this article, we will take a look at the Harvard University Stock Portfolio: Top 10 Stock Picks.
Harvard Management Company was formed in 1974, with the purpose of managing Harvard University’s endowment and related financial assets. With a massive aggregate endowment value of $56.9 billion reported for the fiscal year 2025, the company stands as a focal point for institutional investors. The company’s generalist investment model, aimed at finding the most attractive risk-adjusted returns, serves as a disciplined investment strategy that may prove to be helpful at present when global headwinds are rapidly shifting.
On April 22, 2026, a CNBC article noted that market sentiment had changed as U.S. President Donald Trump indefinitely extended a ceasefire with Iran. The Strait of Hormuz remains a point of supply concern. However, according to Brian Stutland, CIO at Equity Armor Investments, investors are beginning to look past the conflict and focus on a slow resolution. Similarly, Ray Farris, chief economist for Eastspring Investments, observed that the market is beginning to believe that the worst-case scenarios are over. Subsequently, Grace Peters of J.P. Morgan Private Bank noted that the S&P 500’s price-to-earnings ratio has fallen below its 5-year average, creating a valuation opportunity.
Amid these developments, a massive endowment company’s resilient portfolio management could offer a few solid picks that could help in making effective use of the rising opportunities. In this regard, we have brought to you 10 stocks that are prioritized by Harvard Management Company’s solid risk allocation framework.
Our Methodology
We have come up with the list of Harvard University’s stock portfolio: top 10 stock picks, by going through Harvard Management Company’s portfolio as detailed in the company’s Q4 2025 13F filing. We ranked these stocks based on Harvard Management Company’s stake in each. The fourth quarter hedge fund data available on Insider Monkey database has also been used to indicate the institutional investor interests in the stock. We limited our final selection to companies that have recently reported noteworthy developments likely to impact investor sentiment. All the pricing data are current as of market close on April 27, 2026.
Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter’s strategy selects 14 small-cap and large-cap stocks every quarter and has returned 498.7% since May 2014, beating its benchmark by 303 percentage points (see more details here).
10. Klarna Group plc (NYSE:KLAR)
Number of Hedge Fund Holders: 44
Harvard Management Company’s Stake: $13.27 Million
Klarna Group plc (NYSE:KLAR) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
On April 22, 2026, BMO Capital initiated coverage of Klarna Group plc (NYSE:KLAR) with a Market Perform rating. The firm set a price target of $16 on the stock. BMO Capital recognizes Klarna Group plc (NYSE:KLAR) as a long-term structural share gainer but remains cautious regarding the company’s strategy of focusing on longer-duration credit products. The firm’s analyst believes that this strategy raises earnings volatility as well as credit risk. BMO Capital says that it might issue a recommendation, but only after it finds evidence that the company can achieve its monetization goals without compromising its overall risk profile.
In a separate event, on April 14, 2026, Klarna Group plc (NYSE:KLAR) announced entering into a partnership agreement with Aven Hospitality, whereby the company brings flexible payment options to the 10,000 hotels connected to Aven Hospitality’s Booking Engine. David Sykes, Chief Commercial Officer at Klarna Group plc (NYSE:KLAR), gave the following statement.
With Klarna integrated into Aven’s Booking Engine, travelers can pay in full, split the cost into interest-free installments, or choose longer-term financing – real flexibility, from the moment they book.
Founded in 2005, Klarna Group plc (NYSE:KLAR) is a global fintech company offering payment and shopping solutions. It specializes in “buy now, pay later” services, enabling consumers to split payments or defer purchases while helping merchants boost sales through flexible checkout options.
9. Flutter Entertainment plc (NYSE:FLUT)
Number of Hedge Fund Holders: 79
Harvard Management Company’s Stake: $24.83 Million
Flutter Entertainment plc (NYSE:FLUT) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
On April 24, 2026, MoffettNathanson downgraded its rating on Flutter Entertainment plc (NYSE:FLUT) from Buy to Neutral with a price target of $127, down from $170. The firm admitted that they were very late in downgrading the stock, as it follows significant year-to-date selloffs. MoffettNathanson noted that the current valuations are attractive even under conservative long-term forecasts. However, it argues that this valuation alone is insufficient to support a Buy rating.
Separately, on April 21, 2026, Truist lowered the firm’s price target on Flutter Entertainment plc (NYSE:FLUT) from $160 to $140. The firm’s analyst, Barry Jonas, kept a Buy rating on the company’s stock. The update was part of Truist’s broader research note previewing Q1 earnings in Gaming. According to the firm’s analyst, the gaming sector remains out of favor, but Regional operators are best positioned for Q1 as players stay closer to home. On the other hand, Las Vegas Strip trends are stagnant, and Local markets face unique hurdles. Meanwhile, the Digital segment remains challenged by slowing online sports betting growth and uncertainty surrounding prediction markets.
Flutter Entertainment plc (NYSE:FLUT) is an online betting and gaming company, operating mainly in the United States, the UK, Ireland, and Australia. The company is based in New York, New York, and was founded in 1988.
8. NVIDIA Corporation (NASDAQ:NVDA)
Number of Hedge Fund Holders: 264
Harvard Management Company’s Stake: $76.52 Million
NVIDIA Corporation (NASDAQ:NVDA) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
On April 25, 2026, Pony AI Inc. unveiled an upgraded Level 4 autonomous driving domain controller developed in collaboration with NVIDIA Corporation. The system was built on the NVIDIA DRIVE Hyperion platform and utilizes NVIDIA DRIVE AGX Thor and NVLink technology to achieve a significant computing performance of 4,000 FP4 TFLOPS. The partnership, which dates back to 2017, continues to scale as Pony AI Inc. sees a 500% year-over-year surge in controller shipments in 2025 across global markets, including Germany, the United Kingdom, South Korea, Japan, and Switzerland.
Earlier, on March 16, 2026, at the GTC conference, NVIDIA Corporation CEO Jensen Huang unveiled the Groq 3 LPX rack, a server designed for AI inference. The system combines Vera Rubin servers with Groq’s language processing units, thereby becoming 350 times faster than the Hopper generation. Additionally, Huang projected $1 trillion in AI chip sales by 2027 – updating the earlier guidance of $500 billion in 2026.
Founded in 1993, the California-based company, NVIDIA Corporation is a fabless semiconductor and AI computing company that designs GPUs, AI accelerators, Application Programming Interfaces (APIs), and system-on-a-chip units.
7. Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM)
Number of Hedge Fund Holders: 224
Harvard Management Company’s Stake: $93.23 Million
Taiwan Semiconductor Manufacturing Company Limited (NYSE:TSM) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
On April 23, 2026, Taiwan Semiconductor Manufacturing Company Limited announced that it will delay the deployment of ASML’s high-numerical-aperture (high-NA) EUV lithography machines until at least 2029. The company’s Deputy Co-COO Kevin Zhang cited the cost of the equipment, which exceeded €350 million per unit, as the primary factor. Instead, the company intends to continue optimizing current EUV technology for its A13 chips, which are anticipated to go into production in 2029. This decision poses a strategic challenge for ASML, which anticipates high-volume production by 2027. With the company’s capital expenditure nearing $56 billion in 2026, Taiwan Semiconductor Manufacturing Company Limited continues to maintain its 56% gross margin, strongly anticipating the cost to deliver satisfactory returns.
Prior to this, on April 22, 2026, Taiwan Semiconductor Manufacturing Company Limited expanded its partnership with Synopsys to power next-generation AI systems with silicon-proven IP and certified EDA flows. On the same day, the company also extended its long-standing relationship with Cadence to accelerate the design of next-generation AI silicon.
Founded in 1987, Taiwan Semiconductor Manufacturing Company Limited is the world’s leading dedicated semiconductor foundry. Based in Taiwan, the company carries on the business of manufacturing and selling integrated circuits and wafer semiconductor devices.
6. Meta Platforms, Inc. (NASDAQ:META)
Number of Hedge Fund Holders: 256
Harvard Management Company’s Stake: $119.98 Million
Meta Platforms, Inc. (NASDAQ:META) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
Meta Platforms, Inc. announced two major energy partnerships: Overview Energy and Noon Energy on April 27, 2026, in a blog post titled, ‘Powering AI, Strengthening the Grid: Innovation in Space Solar Energy and Long-Duration Storage’. With the collaborations, the company aims to secure reliable power for its AI infrastructure. First, partnering with Overview Energy, the company intends to harness up to 1 GW of space-based solar energy, using satellites to beam power to Earth-based farms for 24/7 production. Additionally, Meta Platforms, Inc. partnered with Noon Energy to deploy 1 GW/100 GWh of ultra-long-duration storage. This technology utilizes reversible fuel cells to store energy for over 100 hours. Both projects target demonstrations in 2028.
In another development, on April 27, 2026, China’s National Development and Reform Commission (NDRC) restricted Meta Platforms, Inc. from acquiring the AI startup Manus. NDRC announced that, in accordance with the laws and regulations, it is blocking foreign investment in the Manus project. However, a representative of the company told the press that the deal complied with the laws and regulations, and Meta Platforms, Inc. anticipates an appropriate resolution to the enquiry.
Founded in 2004, Meta Platforms, Inc. is a global technology conglomerate with headquarters in California. The company builds technologies that help people connect, find communities, and grow businesses through its “Family of Apps.”
5. Union Pacific Corporation (NYSE:UNP)
Number of Hedge Fund Holders: 106
Harvard Management Company’s Stake: $141.39 Million
Union Pacific Corporation (NYSE:UNP) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
On April 24, 2026, Citi raised its price target on Union Pacific Corporation from $285 to $307 while maintaining a Buy rating on the company’s stock. In the first quarter report released by the company, the firm found record performances over many of Union Pacific Corporation’s efficiency metrics, leading it to adjust its estimates on future growth.
Separately, on the same day, Evercore ISI raised its price target on Norfolk Southern (NSC), a leading U.S. freight transportation company, from $295 to $325 following Q1 results. The firm kept an In Line rating on the stock. The firm told investors that it made the adjustment to keep the Norfolk Southern (NSC) price target aligned with the proposed Union Pacific Corporation merger terms. Union Pacific Corporation agreed to acquire Norfolk Southern for $85 billion in July 2025. The deal approved by shareholders in late 2025 currently awaits regulatory approval, with an anticipated closing date in early 2027.
Founded in 1862, Union Pacific Corporation is a premier North American railroad company. The Nebraska-based company serves as a critical link in the global supply chain by connecting Pacific Coast and Gulf Coast ports with key gateways in the Midwest and Eastern United States.
4. Amazon.com, Inc. (NASDAQ:AMZN)
Number of Hedge Fund Holders: 381
Harvard Management Company’s Stake: $156.92 Million
Amazon.com, Inc. (NASDAQ:AMZN) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
On April 24, 2026, Amazon.com, Inc.’s Amazon Web Services (AWS) secured an agreement with Meta to deploy tens of millions of AWS Graviton processor cores. With this collaboration, Meta becomes one of the world’s largest Graviton customers. The company will utilize the chips to power its next-generation agentic AI workloads. While GPUs remain the standard for training, Meta intends to employ Graviton5 for CPU-intensive tasks like real-time reasoning, code generation, and multi-step orchestrations. Nafea Bshara, Amazon’s Vice President and distinguished engineer.
Meta’s expanded partnership, deploying tens of millions of Graviton cores, shows what happens when you combine purpose-built silicon with the full AWS AI stack to power the next generation of agentic AI.
Earlier, on April 14, 2026, Amazon.com, Inc.’s AWS also announced the launch of Amazon Bio Discovery. The artificial intelligence application allows scientists to run complex computational workflows without writing code. In doing so, Amazon Bio Discovery can help speed up early-stage drug discovery.
Founded in 1994, Amazon.com Inc. operates across e-commerce, digital content, advertising, and cloud computing. Its online and offline stores offer both in-house and third-party products, while its AWS division runs one of the world’s largest data center networks.
3. Booking Holdings Inc. (NASDAQ:BKNG)
Number of Hedge Fund Holders: 109
Harvard Management Company’s Stake: $180.25 Million
Booking Holdings Inc. (NASDAQ:BKNG) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
On April 27, 2026, UBS, an investment research firm, raised its price target on Booking Holdings Inc. from $259 to $260. The firm’s analyst, Stephen Ju, maintained a Buy rating on the stock. Having priced in the geopolitical risks, UBS remains a buyer of the shares. Based on the analyst’s research note, the firm anticipates the near-term uncertainty from the Iran conflict to have a notable influence on consumer confidence and travel demand in the second and third quarters. The analyst further added that while 2026 bookings were revised downward, normalization is expected by 2027.
Deutsche Bank analyst Benjamin Black adjusted the price target on Booking Holdings Inc. from $5,713 to $210 on April 21, 2026. Benjamin kept a Buy rating on the stock. The adjustment follows Booking Holdings Inc.’s 25-to-1 stock split. Additionally, after going through the first quarter report, the analyst noted mixed travel signals alongside possible European softness as a lingering issue, creating downward pressure on the company’s stock price.
Booking Holdings Inc. provides online travel and related solutions through its brands: Booking.com, Priceline, Agoda, KAYAK, and OpenTable. The company is based in Norwalk, Connecticut, and was founded in July 1997 by Jay Scott Walker.
2. Microsoft Corporation (NASDAQ:MSFT)
Number of Hedge Fund Holders: 312
Harvard Management Company’s Stake: $236.82 Million
Microsoft Corporation (NASDAQ:MSFT) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
The Malaysian Ministry of Digital and Microsoft Corporation announced the launch of Microsoft Elevate on April 24, 2026, deepening the country’s AI partnership with the company. This national initiative supports the AI Nation 2030 vision by providing AI training to educators, small businesses, civil servants, and veterans. Expanding on previous programs that skilled over 1.53 million Malaysians, Microsoft Corporation adopts a whole-of-nation strategy to ensure digital inclusion. The pilot phase that began in January 2026 has already reached 80,000 learners. The partnership concentrates on the practical use of AI applications to strengthen Malaysia’s position as a regional technology hub.
In more recent news, Barclays maintained an Overweight rating and $600 target for Microsoft Corporation, on April 27, 2026. The firm hailed the company’s revised OpenAI agreement as workable for both. It further pointed out that the new agreement between the company and OpenAI secures Microsoft Corporation revenue through 2030 and IP rights until 2032, thereby providing long-term stability.
Founded in 1975, Microsoft Corporation is a global technology company that develops and sells a wide range of software, cloud services, devices, and business solutions, serving both individual users and enterprise customers worldwide. Its flagship products include Windows, Microsoft 365, Azure, LinkedIn, and Xbox.
1. Alphabet Inc. (NASDAQ:GOOGL)
Number of Hedge Fund Holders: 288
Harvard Management Company’s Stake: $252.87 Million
Alphabet Inc. (NASDAQ:GOOGL) is among the Harvard University Stock Portfolio: Top 10 Stock Picks.
On April 24, 2026, BMO Capital raised its price target on Alphabet Inc. from $400 to $410. The firm’s analyst Brian Pitz reiterated the Buy rating on the stock. Alphabet Inc. is all set to report its Q1 2026 earnings on April 29, 2026, following a significant 116% growth in its stock value over the past year. The growth was notably driven by the company’s cloud business segment alongside a high demand for its proprietary TPU chips and aggressive AI partnerships. Adjusting the company’s price target ahead of the results announcement, BMO Capital Analyst cited the stock as a Top Pick and labelled it as the best investment for the firm to tap into the AI growth opportunities. The analyst further noted that the company is consistently expanding its leadership positions across the AI stack.
In another development, on the same day, Bloomberg reported that Google, owned by Alphabet Inc., has plans to invest up to $40 Billion in Anthropic PBC, an American artificial intelligence company. With this investment, Anthropic secures critical infrastructure for its successful Claude Code software while bolstering Google’s TPU ecosystem.
Founded in 2015, Alphabet Inc. is a holding company that operates Google services such as search engines, ad platforms, Internet browsers, devices, mapping software, app stores, video streaming, and more. The company also offers cloud infrastructure and platform services, collaboration tools, and other services for enterprise customers, as well as healthcare-related services and internet services.
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