13F
中
← All fund report cards

HARVARD MANAGEMENT CO INC

13F equity value
$1.8B
Positions
17
Top 10 concentration
90.5%
Quarters / total new picks
22 / 57
13F equity value over time
$0M$1B$2B2017201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 22 quarters, returned +2.1% per quarter — versus +2.2% per quarter from simply owning every 13F stock. It beat that baseline in only 45.5% of quarters (excess t = 0.44, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+2.0%
t-stat
0.44
Quarterly win rate
46%
Annualized excess
-3.6%
$1 → follow vs universe
$1.22 vs $1.48
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320181231: universe 0.99220190630: universe 1.06620190930: universe 1.14720191231: universe 0.92520200930: universe 1.13520201231: universe 1.18620210331: universe 1.19720210630: universe 1.29320210930: universe 1.16020211231: universe 0.98720220930: universe 1.06120230331: universe 1.11820240630: universe 1.21920240930: universe 1.20920241231: universe 1.12820250331: universe 1.23020250630: universe 1.26820250930: universe 1.42620251231: universe 1.475 20180331: follow 1.11720180630: follow 0.99020180930: follow 0.94420181231: follow 1.01720190630: follow 1.12020190930: follow 1.42820191231: follow 1.19520200930: follow 1.45120201231: follow 1.39620210331: follow 1.56120210630: follow 2.15520210930: follow 1.46020211231: follow 1.15520220930: follow 1.15320230331: follow 1.14320240630: follow 1.17720240930: follow 1.35720241231: follow 1.30820250331: follow 1.30720250630: follow 1.32520250930: follow 1.16020251231: follow 1.222 0.85 1.59 2.33 20182019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 16 holdings of 17 · 2026 Q1

Ticker Value Weight QoQ
TSM $232M
12.8%
ADD
GLD $200M
11.0%
TRIM
MSFT $190M
10.5%
ADD
GOOGL $177M
9.8%
TRIM
UNP $154M
8.5%
ADD
AMZN $149M
8.2%
ADD
BKNG $147M
8.1%
ADD
AVGO $147M
8.1%
ADD
NVDA $130M
7.1%
ADD
IBIT $117M
6.4%
TRIM
META $111M
6.1%
ADD
Z $23M
1.3%
TRIM
GENB $14M
0.8%
NEW
ZG $12M
0.7%
TRIM
FLUT $8M
0.4%
TRIM
TXG $4M
0.2%
HOLD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

None.

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.