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HMC

Harvard Management Company Portfolio holdings

AUM $4.26B
1-Year Est. Return 5.81%
This Fund
S&P 500
This Quarter Est. Return
-0.51%
1 Year Est. Return
+5.81%
3 Year Est. Return
+122.55%
5 Year Est. Return
+118.8%
10 Year Est. Return
+239.18%
AUM
$2.08B
AUM Growth
-$25.7M
Cap. Flow
+$37.1M
Cap. Flow %
1.79%
Top 10 Hldgs %
86.9%
Holding
22
New
4
Increased
5
Reduced
5
Closed
3

Top Buys

Rank Stock Value
1
UNP icon
Union Pacific
UNP
+$140M
2
ETHA
iShares Ethereum Trust ETF
ETHA
+$101M
3
AVGO icon
Broadcom
AVGO
+$79.3M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$46.2M
5
TSM icon
TSMC
TSM
+$27.9M

Top Sells

Rank Stock Value
1
LNW
Light & Wonder
LNW
+$94.5M
2
AMZN icon
Amazon
AMZN
+$89.5M
3
IBIT icon
iShares Bitcoin Trust
IBIT
+$82.9M
4
MSFT icon
Microsoft
MSFT
+$67M
5
NVDA icon
NVIDIA
NVDA
+$32.3M

Sector Composition

Rank Sector Weight
1 Miscellaneous 28.93%
2 Technology 25%
3 Communication Services 21.09%
4 Consumer Discretionary 17.41%
5 Industrials 6.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IBIT icon
1
iShares Bitcoin Trust
IBIT
$63.4B
$266M 12.78%
5,353,612
-1,460,000
-21% -$82.9M
GOOGL icon
2
Alphabet (Google) Class A
GOOGL
$4.19T
$253M 12.16%
807,900
+161,700
+25% +$46.2M
GLD icon
3
SPDR Gold Trust
GLD
$150B
$248M 11.94%
626,450
-34,941
-5% -$13.3M
MSFT icon
4
Microsoft
MSFT
$3.79T
$237M 11.39%
489,678
-133,622
-21% -$67M
BKNG icon
5
Booking.com
BKNG
$147B
$180M 8.67%
841,450
+53,975
+7% +$11.1M
AMZN icon
6
Amazon
AMZN
$2.79T
$157M 7.55%
679,845
-391,255
-37% -$89.5M
UNP icon
7
Union Pacific
UNP
$172B
$141M 6.8%
+611,233
New +$140M
META icon
8
Meta Platforms (Facebook)
META
$1.56T
$120M 5.77%
181,765
+18,505
+11% +$12.4M
AVGO icon
9
Broadcom
AVGO
$1.7T
$111M 5.36%
321,766
+221,866
+222% +$79.3M
TSM icon
10
TSMC
TSM
$2.16T
$93.2M 4.48%
306,796
+95,006
+45% +$27.9M
ETHA
11
iShares Ethereum Trust ETF
ETHA
$8.54B
$86.8M 4.18%
+3,870,900
New +$101M
NVDA icon
12
NVIDIA
NVDA
$5.52T
$76.5M 3.68%
410,291
-173,640
-30% -$32.3M
Z icon
13
Zillow
Z
$7.95B
$45.2M 2.17%
662,045
– –
FLUT icon
14
Flutter Entertainment
FLUT
$17.8B
$24.8M 1.19%
115,481
– –
ZG icon
15
Zillow
ZG
$8.1B
$20.5M 0.99%
301,122
– –
KLAR
16
Klarna Group
KLAR
$5.44B
$13.3M 0.64%
459,163
– –
TXG icon
17
10x Genomics
TXG
$8.24B
$2.77M 0.13%
170,000
– –
FIG
18
Figma
FIG
$13.4B
$1.89M 0.09%
+50,454
New +$2.28M
PCTTW
19
PureCycle Technologies Inc Warrant
PCTTW
$550K 0.03%
+714,285
New +$1.56M
LNW
20
DELISTED
Light & Wonder
LNW
– –
-1,125,210
Closed -$94.5M
PCT icon
21
PureCycle Technologies
PCT
$1.27B
– –
-714,285
Closed -$2.41M
MAZE
22
Maze Therapeutics
MAZE
$1.44B
– –
-92,396
Closed -$2.4M

Similar funds

MA
Marshfield Associates Washington, District of Columbia $4.26B AUM 12.94% 1-Year Est. Return
IAA
Independent Advisor Alliance Charlotte, North Carolina $4.27B AUM 45.92% 1-Year Est. Return
EA
Emerald Advisers Leola, Pennsylvania $4.25B AUM 141.71% 1-Year Est. Return
DILIC
Dai-ichi Life Insurance Company Tokyo, Japan $4.28B AUM 43.07% 1-Year Est. Return
VPC
Vestal Point Capital New York $4.28B AUM 239% 1-Year Est. Return
HCC
Hill City Capital Boston, Massachusetts $4.28B AUM 80.76% 1-Year Est. Return
DWM
Destination Wealth Management Walnut Creek, California $4.28B AUM 19.27% 1-Year Est. Return
AP
Altarock Partners West Palm Beach, Florida $4.24B AUM 4.82% 1-Year Est. Return

Harvard Management Company's Q4 2025 Portfolio in Review

As of Q4 2025, Harvard Management Company held 22 positions worth $2.08B, down 1.2% from $2.1B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Harvard Management Company's Q4 2025 filing shows 4 new, 5 increased, 5 reduced and 3 closed positions. Its largest new stake was Union Pacific: 611,233 shares worth $141M. The largest sale was Light & Wonder, an estimated $94.5M.

By sector, the portfolio is most concentrated in Miscellaneous at 29% of assets, down from 32% a quarter earlier, followed by Technology and Communication Services.

  • Harvard Management Company's largest Q4 2025 buy was Union Pacific: 611,233 shares worth $141M.
  • Harvard Management Company added most to Broadcom in Q4 2025, an estimated $79.3M increase.
  • Harvard Management Company's biggest Q4 2025 reduction was Amazon, cutting an estimated $89.5M.
  • Harvard Management Company fully exited Light & Wonder in Q4 2025, selling an estimated $94.5M.
  • Harvard Management Company's ten largest holdings make up 87% of its $2.08B portfolio in Q4 2025.
  • Harvard Management Company opened 4 new positions and closed 3 in Q4 2025.
  • Harvard Management Company's portfolio value fell 1.2% quarter-over-quarter to $2.08B.

Based on Harvard Management Company's 13F filing for Q4 2025, filed 13 Feb 2026.