Yale University Buys Vanguard FTSE Emerging Markets, SPDR S&P 500, Pure Storage Inc, Sells Antero Midstream GP LP, iShares MSCI EAFE, iShares S&P 500 Growth

• New Purchases: VWO, SPY, PSTG, VEEV,
• Added Positions: AR,
• Reduced Positions: EFA,
• Sold Out: AMGP, IVW, PBPB, QTNA,

For the details of David Swensen's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=David+Swensen

1. JBG SMITH Properties (JBGS) - 5,145,068 shares, 48.24% of the total portfolio.
2. Antero Resources Corp (AR) - 4,516,262 shares, 24.94% of the total portfolio. Shares added by 11.05%
3. Vanguard FTSE Emerging Markets (VWO) - 858,600 shares, 11.22% of the total portfolio. New Position
4. SPDR S&P 500 (SPY) - 141,000 shares, 10.32% of the total portfolio. New Position
5. Pure Storage Inc (PSTG) - 613,896 shares, 3.41% of the total portfolio. New Position

Yale University initiated holding in Vanguard FTSE Emerging Markets. The purchase prices were between $44.96 and $50.98, with an estimated average price of $47.95. The stock is now traded at around $43.19. The impact to a portfolio due to this purchase was 11.22%. The holding were 858,600 shares as of 2018-03-31.

Yale University initiated holding in SPDR S&P 500. The purchase prices were between $256.6 and $285.44, with an estimated average price of $272.01. The stock is now traded at around $275.50. The impact to a portfolio due to this purchase was 10.32%. The holding were 141,000 shares as of 2018-03-31.

Yale University initiated holding in Pure Storage Inc. The purchase prices were between $16.16 and $22.39, with an estimated average price of $19.62. The stock is now traded at around $24.46. The impact to a portfolio due to this purchase was 3.41%. The holding were 613,896 shares as of 2018-03-31.

Yale University initiated holding in Veeva Systems Inc. The purchase prices were between $54.32 and $77.88, with an estimated average price of $64.64. The stock is now traded at around $83.17. The impact to a portfolio due to this purchase was 1.62%. The holding were 80,000 shares as of 2018-03-31.

Yale University sold out a holding in Antero Midstream GP LP. The sale prices were between $15.83 and $22.02, with an estimated average price of $19.36.

Yale University sold out a holding in iShares S&P 500 Growth. The sale prices were between $149.59 and $165.98, with an estimated average price of $159.49.

Yale University sold out a holding in Potbelly Corp. The sale prices were between $11.6 and $13.3, with an estimated average price of $12.59.

Yale University sold out a holding in Quantenna Communications Inc. The sale prices were between $12.17 and $15.62, with an estimated average price of $13.86.

Yale University reduced to a holding in iShares MSCI EAFE by 64.86%. The sale prices were between $67.94 and $75.25, with an estimated average price of $71.31. The stock is now traded at around $67.52. The impact to a portfolio due to this sale was -0.56%. Yale University still held 13,000 shares as of 2018-03-31.