Harvard Management Company Increases Facebook Investments in Third Quarter, Property Sales at Tech

Harvard Management Company sold its assets in the tech and pharmaceutical industries while increasing its investments in Facebook as public securities portfolio fell by 2 percent to $ 1.71 billion.

HMC reported the figure in its latest launches with the Securities and Exchange Commission. The regulatory agency needs investment managers overseeing more than $ 100 million in assets to disclose public safety assets each quarter.

The University’s product portfolio, one of the only publicly available sources of information on HMC investments, accounts for three percent of Harvard funding.

The University’s contribution went to $ 53.2 billion in the fiscal year ended May 521, sending 33.6 percent returns as its investments benefited from public and private equity markets.

In the third quarter, which ran from June 1 to Sept. 30, HMC sells off its stocks in the Palo Alto Network and Intercontinental Exchange technology systems. At the same time, it also sold its assets at DaVita Inc., a Berkshire Hathaway healthcare company; Unity Software, a video game software development company; Pinduoduo Inc., one of China’s largest e-commerce platforms; NuCana, a biopharmaceutical company focused on cancer treatments; and Cortexyme, a biopharmaceutical company that focuses on treatments for cancers.

HMC also sold some of its shares in Apple, reducing its assets in the technology industry from $ 333 million to $ 267 million. However Apple is the single largest holder reported in the registry.

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