Insights into Yale University (Trades, Portfolio)'s Q3 2023 Investment Moves and Portfolio Adjustments
Yale University (Trades, Portfolio)'s Investment Office, renowned for its sophisticated approach to endowment management, has disclosed its 13F holdings for the third quarter of 2023. The office, which supports the University's financial needs, employs a blend of academic theory and practical market judgment to construct its portfolio. Yale's investment strategy is influenced by mean-variance analysis, a concept pioneered at Yale itself, and is overseen by the University's Investment Committee. The Endowment, a mix of true endowment and quasi-endowment funds, is designed to provide sustainable funding for the University's diverse programs and initiatives.
New Additions to the Portfolio
During the third quarter of 2023, Yale University (Trades, Portfolio) made a notable new investment in the healthcare sector by purchasing 12,253 shares of Allurion Technologies Inc (ALUR, Financial). This addition represents 0.05% of the portfolio, with a total value of $52,690.
Significant Exits
Yale University (Trades, Portfolio)'s most impactful portfolio change was the complete divestment from Seagen Inc (SGEN, Financial). The sale of all 111,468 shares held by the University resulted in a -16.65% impact on the portfolio, marking a significant shift in strategy.
Key Position Reductions
The University also strategically reduced its stake in Albertsons Companies Inc (ACI, Financial) by 383,001 shares. This reduction led to a -9% decrease in the number of shares held and a -6.49% impact on the portfolio. During the quarter, ACI's stock price averaged $22.32, with a -1.20% return over the past three months and a 5.43% year-to-date return.
Portfolio Overview
As of the third quarter of 2023, Yale University (Trades, Portfolio)'s investment portfolio comprised 4 stocks. The top holdings were heavily concentrated in Albertsons Companies Inc (ACI, Financial) at 86.22%, followed by Vanguard FTSE Emerging Markets ETF (VWO, Financial) at 13.12%, iShares Core S&P Total U.S. Stock Market ETF (ITOT, Financial) at 0.61%, and Allurion Technologies Inc (ALUR, Financial) at 0.05%. The investments were primarily focused on two industries: Consumer Defensive and Healthcare.
This latest filing from Yale University (Trades, Portfolio) offers valuable insights into the investment decisions of one of the most respected institutional investors. The adjustments made during the third quarter reflect a dynamic approach to portfolio management, with significant moves that may influence the strategies of value investors and market analysts alike.
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