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Yale Endowment Fund Buys Rackspace Hosting Inc, JPMorgan Chase & Co., Sells Acadia Realty Trust, ArcSight Inc., Douglas Emmett Inc.

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Yale endowment manager David Swensen is good at picking good investors. He manages a part of the endowment portfolio, too. This is his Q3 portfolio update. Swensen buys Rackspace Hosting Inc, JPMorgan Chase & Co., sells Acadia Realty Trust, Arcsight Inc., Douglas Emmett Inc., Infinera Corp., Tivo Inc. during the 3-months ended 09/30/2009, according to the most recent filings of his investment company, Yale University. David Swensen owns 7 stocks with a total value of $5 million. These are the details of the buys and sells.

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

This is the sector weightings of his portfolio:

Consumer Goods 9.8%
Technology 6.8%
Health Care 6.8%
Financials 4.2%
Oil & Gas 2.7%


These are the top 5 holdings of David Swensen

  1. IShares S&P 100 Index Fund (OEF) - 52,000 shares, 48.71% of the total portfolio
  2. IShares MSCI EAFE Index Fund (EFA) - 20,000 shares, 21% of the total portfolio
  3. Wolverine World Wide Inc. (WWW) - 20,614 shares, 9.83% of the total portfolio
  4. RACKSPACE HOSTING INC (RAX) - 20,662 shares, 6.76% of the total portfolio
  5. Celgene Corp. (CELG) - 6,292 shares, 6.76% of the total portfolio


New Purchase: Rackspace Hosting Inc (RAX)

David Swensen initiated holdings in Rackspace Hosting Inc. His purchase prices were between $12.24 and $18.33, with an estimated average price of $14.38. The impact to his portfolio due to this purchase was 6.76%. His holdings were 20,662 shares as of 09/30/2009.

Rackspace delivers computing-as-a-service, integrating the industry's best technologies into a flexible service offering, making computing more reliable and affordable. Rackspace Hosting Inc has a market cap of $2.27 billion; its shares were traded at around $18.75 with a P/E ratio of 81.5 and P/S ratio of 4.3.

New Purchase: JPMorgan Chase & Co. (JPM)

David Swensen initiated holdings in Jpmorgan Chase & Co.. His purchase prices were between $32.34 and $46.47, with an estimated average price of $40.41. The impact to his portfolio due to this purchase was 4.2%. His holdings were 5,000 shares as of 09/30/2009.

JPMorgan Chase & Co. has a market cap of $167.33 billion; its shares were traded at around $42.55 with a P/E ratio of 39.7 and P/S ratio of 2.5. The dividend yield of Jpmorgan Chase & Co. stocks is 0.5%.

Reduced: Ishares Msci Eafe Index Fund (EFA)

David Swensen reduced to his holdings in Ishares Msci Eafe Index Fund by 72.97%. His sale prices were between $44.01 and $55.77, with an estimated average price of $50.72. The impact to his portfolio due to this sale was -15.32%. David Swensen still held 20,000 shares as of 09/30/2009.

Ishares Msci Eafe Index Fund has a market cap of $34.93 billion; its shares were traded at around $55.65 . The dividend yield of Ishares Msci Eafe Index Fund stocks is 3.4%.

Sold Out: Acadia Realty Trust (AKR)

David Swensen sold out his holdings in Acadia Realty Trust. His sale prices were between $11.81 and $16.27, with an estimated average price of $14.21.

Acadia Realty Trust is a fully integrated, self-managed and self-administered equity REIT focused primarily on the ownership, acquisition, redevelopment and management of neighborhood and community shopping centers. Acadia Realty Trust has a market cap of $651.6 million; its shares were traded at around $16.42 with a P/E ratio of 13.7 and P/S ratio of 4.6. The dividend yield of Acadia Realty Trust stocks is 4.3%. Acadia Realty Trust had an annual average earning growth of 9.3% over the past 5 years.

Sold Out: ArcSight Inc. (ARST)

David Swensen sold out his holdings in Arcsight Inc.. His sale prices were between $15.19 and $23.95, with an estimated average price of $19.44.

Arcsight Inc. has a market cap of $812.1 million; its shares were traded at around $24.48 with a P/E ratio of 62.8 and P/S ratio of 6.

Sold Out: Douglas Emmett Inc. (DEI)

David Swensen sold out his holdings in Douglas Emmett Inc.. His sale prices were between $7.93 and $13.87, with an estimated average price of $11.08.

DOUGLAS EMMETT INC is a fully integrated, self-administered and self-managed real estate investment trust and one of the largest owners and operators of high-quality office and multifamily properties located in premier submarkets in California and Hawaii. The Company's properties are concentrated in ten submarkets Brentwood, Olympic Corridor, Century City, Santa Monica, Beverly Hills, Westwood, Sherman Oaks/Encino, Warner Center/Woodland Hills, Burbank and Honolulu. The Company focuses on owning and acquiring a substantial share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities. Douglas Emmett Inc. has a market cap of $1.63 billion; its shares were traded at around $13.42 with a P/E ratio of 10.1 and P/S ratio of 2.6. The dividend yield of Douglas Emmett Inc. stocks is 3.1%.

Sold Out: Infinera Corp. (INFN)

David Swensen sold out his holdings in Infinera Corp.. His sale prices were between $6.77 and $9, with an estimated average price of $7.64.

Infinera provides Digital Optical Networking systems to telecommunications carriers, cable operators and other service providers worldwide. Infinera's large-scale photonic integrated circuit incorporates hundred Gigabits per second of transmit and receive capacity and the functionality of more than sixty discrete optical components into a pair of indium phosphide chips. Infinera's DTN system and PIC technology are designed to provide optical networks that provide operating simplicity, enhanced revenue generation, faster time-to-service and capital cost savings. Infinera Corp. has a market cap of $771.4 million; its shares were traded at around $8.06 with and P/S ratio of 1.6.

Sold Out: Tivo Inc. (TIVO)

David Swensen sold out his holdings in Tivo Inc.. His sale prices were between $8.6 and $10.98, with an estimated average price of $10.11.

Tivo Inc. has a market cap of $1.17 billion; its shares were traded at around $10.83 with and P/S ratio of 4.7.


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