Yale University Is Bullish On ETFs & Alexion Pharmaceuticals, Bearish On Twitter & Demandware

Although Benzinga usually looks at 13F filings for hedge funds, looking at the stocks that Yale University is betting on might be interesting. Its equity portfolio’s value more than quintupled over the second quarter, to $352.5 million, after the investment firm associated with the University acquired 5 news stocks, added to 1 of its preexisting positions, and sold out of 6.

81 percent of the total assets are allocated to financial stocks, and another 16 percent to health care. So, let’s take a look at some of the most interesting positions and moves from the second quarter – disclosed on Thursday.

Same as in the previous quarter, Yale’s top bet was placed on an ETF: the iShares MSCI EAFE Index Fund (ETF) EFA. After almost tripling its exposure over the quarter, the University declared holding 2,389,400 shares of the ETF, worth more than $150 million, which represent 43 percent of its total equity portfolio.

Another investment firm betting on this ETF is Morgan Stanley, which, after purchasing 4,134,217 shares over the quarter, declared holding 16,422,570 shares, worth more than $1 billion.

The second largest stake was also put in an ETF: the Vanguard Emerging Markets Stock Index Fd VWO. This position, comprising 3,258,000 shares, or $133 million in stock, was started over the second quarter, and makes of Yale one of the top 50 institutional investors of record.

The largest stake in this ETF is held by Ray Dalio’s Bridgewater Associates, which last declared holding more than $4.6 billion in stock -- 112,785,649 shares, trailed, once again, by Morgan Stanley, with 25,207,922 shares.

The biggest non-ETF bet was placed on Alexion Pharmaceuticals, Inc. ALXN, of which Yale acquired 319,273 shares, worth more than $57 million, over the quarter.

Among hedge funds, the largest investor was Ken Griffin’s Citadel Advisors, which disclosed ownership of 1,141,854 shares as of the end of the first quarter of the year. Looking only at those firms that have already disclosed their second quarter long positions, Donald Chiboucis’ position could be highlighted. His fund, Columbus Circle Investors held almost $100 million in stock (540,731 shares) as of June 30, 2015.

Other interesting moves include the closing of Yale’s stakes in Twitter Inc TWTR andDemandware Inc DWRE, of which it held $1.72 million in stock (34,345 shares) and $4.72 million in stock (81,647 shares) as of the end of the first quarter.