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HARVARD MANAGEMENT CO INC

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13F filer, CIK 1082621, BOSTON, MA

HARVARD MANAGEMENT CO INC reported $2,079,274,080 across 19 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-13. Its ten largest share positions make up 86.9% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001193125-26-051702

Period
2025-12-31
Reported value
$2.08B
Holdings
19
Top 10 weight
86.9%
New
4
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
UNPnew+611,233$141M
ETHAnew+3,870,900$86.8M
AVGOadded+221,866$76.8M
GOOGLadded+161,700$50.6M
TSMadded+95,006$28.9M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
LNWOexited-1,125,210-$94.5M
AMZNreduced-391,255-$90.3M
IBITreduced-1,460,000-$72.5M
MSFTreduced-133,622-$64.6M
NVDAreduced-173,640-$32.4M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001193125-26-051702, largest first. % of portfolio is the value over $2,079,274,080, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,906,000 shares; 2025Q3: 6,813,612 shares; 2025Q4: 5,353,612 shares 5,353,612$266M12.78%-1,460,000Timeline
GOOGLALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,195,012 shares; 2024Q4: 686,812 shares; 2025Q1: 718,812 shares; 2025Q2: 646,200 shares; 2025Q3: 646,200 shares; 2025Q4: 807,900 shares 807,900$253M12.16%+161,700Timeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 333,000 shares; 2025Q3: 661,391 shares; 2025Q4: 626,450 shares 626,450$248M11.94%-34,941Timeline
MSFTMICROSOFT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 53,300 shares; 2025Q1: 420,000 shares; 2025Q2: 623,300 shares; 2025Q3: 623,300 shares; 2025Q4: 489,678 shares 489,678$237M11.39%-133,622Timeline
BKNGBOOKING HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 36,900 shares; 2024Q4: 19,800 shares; 2025Q1: 37,600 shares; 2025Q2: 31,499 shares; 2025Q3: 31,499 shares; 2025Q4: 33,658 shares 33,658$180M8.67%+2,159Timeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 67,500 shares; 2025Q1: not reported; 2025Q2: 1,071,100 shares; 2025Q3: 1,071,100 shares; 2025Q4: 679,845 shares 679,845$157M7.55%-391,255Timeline
UNPUNION PAC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 611,233 shares 611,233$141M6.8%newTimeline
METAMETA PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,190,381 shares; 2024Q4: 1,302,881 shares; 2025Q1: 498,381 shares; 2025Q2: 163,260 shares; 2025Q3: 163,260 shares; 2025Q4: 181,765 shares 181,765$120M5.77%+18,505Timeline
AVGOBROADCOM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 519,500 shares; 2024Q4: 374,700 shares; 2025Q1: 321,700 shares; 2025Q2: 192,700 shares; 2025Q3: 99,900 shares; 2025Q4: 321,766 shares 321,766$111M5.36%+221,866Timeline
TSMTAIWAN SEMICONDUCTOR MANUFACQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 488,790 shares; 2024Q4: 434,790 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 211,790 shares; 2025Q4: 306,796 shares 306,796$93.2M4.48%+95,006Timeline
ETHAISHARES ETHEREUM TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,870,900 shares 3,870,900$86.8M4.18%newTimeline
NVDANVIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 947,831 shares; 2024Q4: 788,631 shares; 2025Q1: 507,831 shares; 2025Q2: 660,831 shares; 2025Q3: 583,931 shares; 2025Q4: 410,291 shares 410,291$76.5M3.68%-173,640Timeline
ZZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 662,045 shares; 2025Q4: 662,045 shares 662,045$45.2M2.17%0Timeline
FLUTFLUTTER ENTMT PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 115,481 shares; 2025Q4: 115,481 shares 115,481$24.8M1.19%0Timeline
ZGZILLOW GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 301,122 shares; 2025Q4: 301,122 shares 301,122$20.5M0.99%0Timeline
KLARKLARNA GROUP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 459,163 shares; 2025Q4: 459,163 shares 459,163$13.3M0.64%0Timeline
TXG10X GENOMICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 170,000 shares; 2024Q4: 170,000 shares; 2025Q1: 170,000 shares; 2025Q2: 170,000 shares; 2025Q3: 170,000 shares; 2025Q4: 170,000 shares 170,000$2.77M0.13%0Timeline
FIGFIGMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 50,454 shares 50,454$1.89M0.09%newTimeline
PURECYCLE TECHNOLOGIES INCPURECYCLE TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 714,285 shares; 2024Q4: 714,285 shares; 2025Q1: 714,285 shares; 2025Q2: 714,285 shares; 2025Q3: not reported; 2025Q4: 714,285 shares 714,285$550K0.03%new

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
LNWOLIGHT & WONDER, INC. COMMON ST1,125,210$94.5Mshares
PCTPURECYCLE TECHNOLOGIES INC714,285$2.41Mshares
MAZEMAZE THERAPEUTICS INC92,396$2.4Mshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001193125-26-051702 base2026-02-13acceptance time not in the bulk data set