Endowment


Harvard Endowment Executives Meet with Silicon Valley Investors Amid University Turmoil

Harvard Management Company executives met with leading venture capital and private equity investors in Silicon Valley last week amid investor concerns over the University’s response to the Israel-Hamas war and allegations of antisemitism on campus.


House Committee Suggests Harvard Could Lose Tax-Exempt Status in Letter to Garber

The House Ways and Means Committee suggested Harvard’s tax-exempt status could be at risk over its response to Hamas’ Oct. 7 attack against Israel and concerns of antisemitism on campus in a letter to interim President Alan M. Garber ’76 on Wednesday.


Ten Stories That Shaped 2023

In 2023, Harvard had a tumultuous year. Claudine Gay’s first semester ended amid a leadership crisis as she came under fire for her response to tensions on a campus divided by the Israel-Hamas war and faced allegations of plagiarism. Harvard’s legacy and donor preferences in admissions also faced national scrutiny following the Supreme Court’s landmark ruling striking down the University’s affirmative action policy. Across campus, scandal after scandal hit parts of the University. Here, The Crimson looks back at the 10 stories that shaped 2023 at Harvard.


HMC Managing Director Joined Business Leaders and Investors in Exclusive Israel Trip

Managing Director of Investment for the Harvard Management Company, Adam Goldstein, joined 65 business leaders and investors for a five day trip to Israel this week.


New Harvard CFO Ritu Kalra Says University Has ‘Repair Work To Do’ Amid Controversy Over Israel-Hamas Response

Harvard Chief Financial Officer Ritu Kalra acknowledged that officials tasked with fundraising have their work cut out for them as they rebuild relationships with donors dismayed by the controversy enveloping the University over its messaging on the Israel-Hamas war.


Harvard Management Co. Decreased Investments in Meta and Alphabet, Sold Biopharma Holdings in Q3

The Harvard Management Company sold a significant percentage of its direct holdings in Meta and Alphabet, as well as the entirety of its direct holdings in several acquired biomedical and pharmaceutical companies, during the third quarter of 2023.


Outgoing Harvard CFO Says ‘It’s Time to be Very Cautious’ Amid Rising Economic Turmoil

Outgoing Harvard Vice President for Finance and Chief Financial Officer Thomas J. Hollister said in a Thursday interview that the University should be “very cautious” in its financial management as the school confronts an increasingly uncertain economic climate.


Missing from Harvard’s Annual Endowment Report This Year: Underlying Data

Each fall, Harvard releases an annual financial report that provides insights into the University’s budget and investment strategy. For years, the endowment section of the report looked largely the same, with data on HMC’s targets, as well as returns across asset categories. But this fall, it abandoned the longtime practice of disclosing investment performance by asset class.


Harvard Endowment Value Falls $2.3 Billion Following First Negative Returns Since 2016

The value of Harvard University’s endowment fell by $2.3 billion in fiscal year 2022 after the Harvard Management Company delivered a 1.8 percent loss on its investments — its first year of negative returns since 2016.


Harvard Has Reported Positive Endowment Returns for Five Straight Years. That Could Change this Year.

With high inflation and rising interest rates rattling financial markets, the Harvard Management Company, the University’s investment arm, could be on the brink of delivering its first negative annual returns in five years.


Harvard Says the Endowment Tax Is a Blow to Higher Education. Is It?

Harvard has decried a bill passed under the Trump administration that includes a tax on wealthy university endowments. But is the impact of the provision as significant as the University claims it to be?


Harvard Bolsters Investments in Google, Semiconductor Industry

The Harvard Management Company shored up its investments in the technology industry last quarter, boosting its shares of Alphabet — the parent company of Google — by nearly 40 percent while increasing its holdings in the semiconductor companies.


Harvard Management Company Endorses Some Environmental Regulations in SEC Letter

The Harvard Management Company advocated for new environmental disclosure rules under consideration by the U.S. Securities and Exchange Commission, while pushing back against the proposal’s broadest reporting mandate in a letter to the SEC.


GOP Congressman Takes Aim at Harvard’s Potential Endowment Links to Chinese Companies

U.S. Representative Gregory F. Murphy (R-N.C.) called on Harvard to disclose and divest its endowment from any potential holdings in Chinese companies deemed a threat to national security by the federal government in a letter to the school last week.


Harvard Endowment Shares of Meta, Google Balloon in First Quarter

The Harvard Management Company more than tripled its shares of Meta Platforms — formerly known as Facebook — as it saw nearly all of its stock holdings decline in value during the first three months of 2022.


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