Harvard liquidates Israeli stock holdings - Israel Business, Ynetnews

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Harvard liquidates Israeli stock holdings

Prestigious university's Investment fund's holdings in Israeli stocks stood at $41.5 million at end of first quarter of 2010. Company owned Teva, Cellcom, Partner, Nice and Check Point stocks

Shoham Levy, Calcalist
Published: 08.16.10, 07:53 / Israel Business

The prestigious Harvard University has decided to get rid of all Israeli stocks held by its investment fund, Calcalist reported Sunday.


At the conclusion of the first quarter of 2010, Harvard Management Company held Israeli stocks valued at $41.5 million, with most of the investment ($30.5 million) being in Teva stocks. By the end of the second quarter the fund had no stocks in Israeli companies.


It should be noted that during that period, Israel entered the MSCI index for developed countries and is no longer considered a developing economy.


At the end of the year's first quarter, when Teva stock prices reached an all-time high, the Harvard Management Company held 483,000 Teva stocks, valued at $30.5. According to its 13F report, presented to the Securities and Exchange Commission on Friday, Harvard Management Company sold all of its holdings in Teva, Nice, Check Point, Cellcom and Partner during the second quarter of 2010.


Aside from the Teva investment, Harvard Management Company's holdings in Check Point was valued at $3.6 million at the end of the first quarter, and Cellcom stocks were worth $1.1 million.


In addition, the company invested in Ishares index company's Israel MSCI investment basket, which was worth $2.8 million at the end of the first quarter. The fund also held Nice stocks, valued at $1.7 million, and Partner stocks worth $1.8 million. These holdings were sold and the fund does not currently own any Israeli stocks.



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