YALE UNIVERSITY Activity Q4 1999-Q3 2023

Q3 2023

			Value		Shares		↓ Weighting
ACI	Sell	ALBERTSONS COS INC	$88,087,363	-5.1%	3,871,972	-9.0%	86.22%	+19.7%
	New	ALLURION TECHNOLOGIES INC	$52,688	–	12,253	–	0.05%	–
SGEN	Exit	SEAGEN INC	$0	–	-111,468	–	-16.65%	–

Q2 2023

			Value		Shares		↓ Weighting
ACI	New	ALBERTSONS COS INC	$92,843,511	–	4,254,973	–	72.06%	–
SGEN	New	SEAGEN INC	$21,453,131	–	111,468	–	16.65%	–
VWO	New	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$13,912,560	–	342,000	–	10.80%	–
ITOT	New	ISHARES TR CORE S&P TTL STKetf	$642,222	–	6,564	–	0.50%	–

Q4 2022

			Value		Shares		↓ Weighting
	Exit	ISOPLEXIS CORP	$0	–	-107,278	–	-0.98%	–
	Exit	RILEY EXPLORATION PERMIAN IN	$0	–	-15,580	–	-1.58%	–
	Exit	ISHARES TR CORE S&P TTL STKetf	$0	–	-6,564	–	-2.78%	–
	Exit	PROCEPT BIOROBOTICS CORP	$0	–	-126,864	–	-28.07%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$0	–	-342,000	–	-66.58%	–

Q3 2022

			Value		Shares		↓ Weighting
	New	PROCEPT BIOROBOTICS CORP	$5,260,000	–	126,864	–	28.07%	–
	New	ISHARES TR CORE S&P TTL STKetf	$522,000	–	6,564	–	2.78%	–
	New	RILEY EXPLORATION PERMIAN IN	$296,000	–	15,580	–	1.58%	–
	New	ISOPLEXIS CORP	$184,518	–	107,278	–	0.98%	–
ITOT	Exit	ISHARES TR CORE S&P TTL STKetf	$0	–	-6,564	–	-3.72%	–

Q2 2022

			Value		Shares		↓ Weighting
VWO	New	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$14,244,000	–	342,000	–	96.28%	–
ITOT	New	ISHARES TR CORE S&P TTL STKetf	$550,000	–	6,564	–	3.72%	–

Q4 2021

			Value		Shares		↓ Weighting
ITOT	Exit	ISHARES TR CORE S&P TTL STKetf	$0	–	-6,614	–	-0.08%	–
VEA	Exit	VANGUARD TAX-MANAGED INTL FD FTSE DEV MKTetf	$0	–	-33,000	–	-0.20%	–
ILMN	Exit	ILLUMINA INC	$0	–	-6,391	–	-0.31%	–
	Exit	WARBY PARKER INC	$0	–	-52,464	–	-0.33%	–
SFIX	Exit	STITCH FIX INC	$0	–	-71,788	–	-0.34%	–
	Exit	AMPLITUDE INC	$0	–	-54,606	–	-0.35%	–
EFA	Exit	ISHARES TR MSCI EAFEetf	$0	–	-49,000	–	-0.45%	–
PUBM	Exit	PUBMATIC INC	$0	–	-586,912	–	-1.83%	–
VGK	Exit	VANGUARD INTL EQUITY INDEX F FTSE EUROPEetf	$0	–	-682,200	–	-5.30%	–
SPY	Exit	SPDR S&P 500etf tr tr unit	$0	–	-118,300	–	-6.01%	–
EQT	Exit	EQT CORP	$0	–	-12,857,247	–	-31.13%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$0	–	-9,069,956	–	-53.68%	–

Q3 2021

			Value		Shares		↓ Weighting
VWO	New	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$453,589,000	–	9,069,956	–	53.68%	–
EQT	New	EQT CORP	$263,059,000	–	12,857,247	–	31.13%	–
SPY	Buy	SPDR S&P 500etf tr tr unit	$50,767,000	+128.5%	118,300	+127.9%	6.01%	-21.1%
VGK	Buy	VANGUARD INTL EQUITY INDEX F FTSE EUROPEetf	$44,759,000	+775.6%	682,200	+797.6%	5.30%	+202.2%
PUBM	New	PUBMATIC INC	$15,465,000	–	586,912	–	1.83%	–
	New	AMPLITUDE INC	$2,967,000	–	54,606	–	0.35%	–
SFIX	Buy	STITCH FIX INC	$2,868,000	-14.5%	71,788	+29.0%	0.34%	-70.5%
	New	WARBY PARKER INC	$2,783,000	–	52,464	–	0.33%	–
ILMN	New	ILLUMINA INC	$2,592,000	–	6,391	–	0.31%	–
VEA	Sell	VANGUARD TAX-MANAGED INTL FD FTSE DEV MKTetf	$1,666,000	-99.3%	33,000	-99.3%	0.20%	-99.8%
MSFT	Exit	MICROSOFT CORP	$0	–	-407	–	-0.04%	–
VTI	Exit	VANGUARD INDEX FDS TOTAL STK MKTetf	$0	–	-1,121	–	-0.09%	–
DEI	Exit	DOUGLAS EMMETT INC	$0	–	-10,513	–	-0.12%	–
RAPT	Exit	RAPT THERAPEUTICS INC	$0	–	-16,090	–	-0.18%	–
UPST	Exit	UPSTART HLDGS INC	$0	–	-5,246	–	-0.22%	–
BHVN	Exit	BIOHAVEN PHARMACTL HLDG CO L	$0	–	-11,668	–	-0.39%	–
PGNY	Exit	PROGYNY INC	$0	–	-26,619	–	-0.54%	–
LYFT	Exit	LYFT INC	$0	–	-59,100	–	-1.22%	–
DOCU	Exit	DOCUSIGN INC	$0	–	-13,325	–	-1.28%	–
ASAN	Exit	ASANA INCcl a	$0	–	-85,779	–	-1.82%	–

Q2 2021

			Value		Shares		↓ Weighting
VEA	New	VANGUARD TAX-MANAGED INTL FD FTSE DEV MKTetf	$239,252,000	–	4,406,986	–	82.03%	–
SPY	New	SPDR S&P 500etf tr tr unit	$22,216,000	–	51,900	–	7.62%	–
ASAN	New	ASANA INCcl a	$5,321,000	–	85,779	–	1.82%	–
VGK	New	VANGUARD INTL EQUITY INDEX F FTSE EUROPEetf	$5,112,000	–	76,000	–	1.75%	–
EFA	New	ISHARES TR MSCI EAFEetf	$3,865,000	–	49,000	–	1.32%	–
DOCU	New	DOCUSIGN INC	$3,725,000	–	13,325	–	1.28%	–
LYFT	New	LYFT INC	$3,574,000	–	59,100	–	1.22%	–
SFIX	New	STITCH FIX INC	$3,356,000	–	55,654	–	1.15%	–
PGNY	New	PROGYNY INC	$1,571,000	–	26,619	–	0.54%	–
BHVN	New	BIOHAVEN PHARMACTL HLDG CO L	$1,133,000	–	11,668	–	0.39%	–
UPST	New	UPSTART HLDGS INC	$655,000	–	5,246	–	0.22%	–
ITOT	New	ISHARES TR CORE S&P TTL STKetf	$653,000	–	6,614	–	0.22%	–
RAPT	New	RAPT THERAPEUTICS INC	$512,000	–	16,090	–	0.18%	–
DEI	New	DOUGLAS EMMETT INC	$353,000	–	10,513	–	0.12%	–
VTI	New	VANGUARD INDEX FDS TOTAL STK MKTetf	$250,000	–	1,121	–	0.09%	–
MSFT	New	MICROSOFT CORP	$110,000	–	407	–	0.04%	–

Q4 2020

			Value		Shares		↓ Weighting
ITOT	Exit	ISHARES TR CORE S&P TTL STKetf	$0	–	-6,389	–	-1.48%	–
VEA	Exit	VANGUARD TAX-MANAGED INTL FD FTSE DEV MKTetf	$0	–	-33,000	–	-4.13%	–
ASAN	Exit	ASANA INCcl a	$0	–	-75,946	–	-6.69%	–
INZY	Exit	INOZYME PHARMA INC	$0	–	-113,502	–	-9.13%	–
SPY	Exit	SPDR S&P 500etf tr tr unit	$0	–	-24,000	–	-24.60%	–
DOCU	Exit	DOCUSIGN INC	$0	–	-37,432	–	-24.66%	–
GOTU	Exit	GSX TECHEDU INC SPONSORED ADS	$0	–	-106,246	–	-29.30%	–

Q3 2020

			Value		Shares		↓ Weighting
GOTU	New	GSX TECHEDU INC SPONSORED ADS	$9,574,000	–	106,246	–	29.30%	–
DOCU	New	DOCUSIGN INC	$8,057,000	–	37,432	–	24.66%	–
SPY	Sell	SPDR S&P 500etf tr tr unit	$8,037,000	-90.8%	24,000	-92.9%	24.60%	-24.9%
INZY	New	INOZYME PHARMA INC	$2,984,000	–	113,502	–	9.13%	–
ASAN	New	ASANA INCcl a	$2,187,000	–	75,946	–	6.69%	–
VEA	Sell	VANGUARD TAX-MANAGED INTL FD FTSE DEV MKTetf	$1,350,000	-97.5%	33,000	-98.0%	4.13%	-79.6%
BDX	Exit	BECTON DICKINSON & CO	$0	–	-4,774	–	-0.41%	–
PD	Exit	PAGERDUTY INC	$0	–	-379,070	–	-2.45%	–
JBGS	Exit	JBG SMITH PPTYS	$0	–	-440,804	–	-5.25%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$0	–	-763,000	–	-9.57%	–
ZM	Exit	ZOOM VIDEO COMMUNICATIONS INCcl a	$0	–	-224,177	–	-12.25%	–
WORK	Exit	SLACK TECHNOLOGIES INC	$0	–	-1,680,434	–	-16.87%	–

Q2 2020

			Value		Shares		↓ Weighting
SPY	New	SPDR S&P 500etf tr tr unit	$87,635,000	–	340,000	–	32.78%	–
VEA	New	VANGUARD TAX-MANAGED INTL FD FTSE DEV MKTetf	$54,244,000	–	1,627,000	–	20.29%	–
WORK	New	SLACK TECHNOLOGIES INC	$45,103,000	–	1,680,434	–	16.87%	–
ZM	New	ZOOM VIDEO COMMUNICATIONS INCcl a	$32,757,000	–	224,177	–	12.25%	–
VWO	New	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$25,598,000	–	763,000	–	9.57%	–
JBGS	New	JBG SMITH PPTYS	$14,031,000	–	440,804	–	5.25%	–
PD	New	PAGERDUTY INC	$6,550,000	–	379,070	–	2.45%	–
BDX	New	BECTON DICKINSON & CO	$1,097,000	–	4,774	–	0.41%	–
ITOT	New	ISHARES TR CORE S&P TTL STKetf	$366,000	–	6,389	–	0.14%	–

Q4 2019

			Value		Shares		↓ Weighting
ITOT	Exit	ISHARES TR CORE S&P TTL STKetf	$0	–	-6,389	–	-0.35%	–
WORK	Exit	SLACK TECHNOLOGIES INC	$0	–	-35,117	–	-0.68%	–
BRKA	Exit	BERKSHIRE HATHAWAY INCdel cl a	$0	–	-3	–	-0.77%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$0	–	-75,000	–	-2.48%	–
NXTC	Exit	NEXTCURE INC	$0	–	-124,474	–	-3.16%	–
EFA	Exit	I SHARESmsci eafe index fd	$0	–	-82,000	–	-4.40%	–
SMAR	Exit	SMARTSHEET INC	$0	–	-192,421	–	-5.70%	–
SPY	Exit	SPDR S&P 500etf	$0	–	-121,000	–	-29.52%	–
JBGS	Exit	JBG SMITH PPTYS	$0	–	-1,642,841	–	-52.95%	–

Q3 2019

			Value		Shares		↓ Weighting
JBGS	Sell	JBG SMITH PPTYS	$64,416,000	-19.9%	1,642,841	-19.6%	52.95%	-20.4%
SPY	Buy	SPDR S&P 500etf	$35,909,000	+206.4%	121,000	+202.5%	29.52%	+204.5%
SMAR	New	SMARTSHEET INC	$6,933,000	–	192,421	–	5.70%	–
EFA	Buy	I SHARESmsci eafe index fd	$5,347,000	+0.4%	82,000	+1.2%	4.40%	-0.2%
VWO	New	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$3,020,000	–	75,000	–	2.48%	–
BRKA	New	BERKSHIRE HATHAWAY INCdel cl a	$935,000	–	3	–	0.77%	–
WORK	Sell	SLACK TECHNOLOGIES INC	$833,000	-94.9%	35,117	-92.0%	0.68%	-95.0%
DEI	Exit	DOUGLAS EMMETT INC	$0	–	-7,685	–	-0.26%	–
SGEN	Exit	SEATTLE GENETICS INC	$0	–	-11,801	–	-0.68%	–
DOCU	Exit	DOCUSIGN INC	$0	–	-73,438	–	-3.02%	–

Q2 2019

			Value		Shares		↓ Weighting
JBGS	New	JBG SMITH PPTYS	$80,391,000	–	2,043,484	–	66.49%	–
WORK	New	SLACK TECHNOLOGIES INC	$16,412,000	–	437,667	–	13.57%	–
SPY	New	SPDR TRUST SERIES 1etf	$11,720,000	–	40,000	–	9.69%	–
EFA	New	I SHARESmsci eafe index fd	$5,324,000	–	81,000	–	4.40%	–
DOCU	New	DOCUSIGN INC	$3,650,000	–	73,438	–	3.02%	–
NXTC	New	NEXTCURE INC	$1,865,000	–	124,474	–	1.54%	–
SGEN	New	SEATTLE GENETICS INC	$817,000	–	11,801	–	0.68%	–
ITOT	New	ISHARES TR CORE S&P TTL STKetf	$426,000	–	6,389	–	0.35%	–
DEI	New	DOUGLAS EMMETT INC	$309,000	–	7,685	–	0.26%	–

Q4 2018

			Value		Shares		↓ Weighting
ITOT	Exit	ISHARES TR CORE S&P TTL STKetf	$0	–	-7,951	–	-0.07%	–
ARVN	Exit	ARVINAS INC	$0	–	-184,615	–	-0.42%	–
PKW	Exit	INVESCO EXCHANGE TRADED FD T BUYBACK ACHIEVetf	$0	–	-66,700	–	-0.54%	–
VEEV	Exit	VEEVA SYS INC	$0	–	-120,000	–	-1.74%	–
AR	Exit	ANTERO RESOURCES CORP	$0	–	-4,387,218	–	-10.37%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-1,699,000	–	-15.42%	–
JBGS	Exit	JBG SMITH PPTYS	$0	–	-5,104,535	–	-25.09%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$0	–	-8,473,000	–	-46.36%	–

Q3 2018

			Value		Shares		↓ Weighting
VWO	Buy	VANGUARD INTL EQUITY INDEX F FTSE EMR MKTetf	$347,393,000	+378.1%	8,473,000	+392.0%	46.36%	+133.0%
EFA	Buy	ISHARES TRmsci eafe etf	$115,515,000	+4691.2%	1,699,000	+4619.4%	15.42%	+2235.6%
VEEV	New	VEEVA SYS INC	$13,064,000	–	120,000	–	1.74%	–
PKW	Sell	INVESCO EXCHANGE TRADED FD T BUYBACK ACHIEVetf	$4,067,000	-55.1%	66,700	-58.2%	0.54%	-78.1%
ARVN	New	ARVINAS INC	$3,114,000	–	184,615	–	0.42%	–
VIOG	Exit	VANGUARD ADMIRAL FDS INC SMLCP 600 GRTHetf	$0	–	-1,500	–	-0.07%	–
DEI	Exit	DOUGLAS EMMETT INC	$0	–	-13,469	–	-0.15%	–

Q2 2018

			Value		Shares		↓ Weighting
JBGS	New	JBG SMITH PPTYS	$186,162,000	–	5,104,535	–	50.97%	–
AR	New	ANTERO RESOURCES CORP	$93,677,000	–	4,387,218	–	25.65%	–
VWO	New	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETFetf	$72,668,000	–	1,722,000	–	19.90%	–
PKW	New	INVESCO EXCHANGE TRADED FD T BUYBACK ACHIEV ADDEDetf	$9,063,000	–	159,700	–	2.48%	–
EFA	New	ISHARES TRmsci eafe etf	$2,411,000	–	36,000	–	0.66%	–
DEI	New	DOUGLAS EMMETT INC	$541,000	–	13,469	–	0.15%	–
ITOT	New	ISHARES TR CORE S&P TTL STKetf	$497,000	–	7,951	–	0.14%	–
VIOG	New	VANGUARD ADMIRAL FDS INC SMLCP 600 GRTHetf	$244,000	–	1,500	–	0.07%	–

Q4 2017

			Value		Shares		↓ Weighting
BHVN	Exit	BIOHAVEN PHARMACTL HLDG CO L	$0	–	-250,000	–	-1.07%	–
EFA	Exit	ISHARES TRmsci eafe etf	$0	–	-1,934,044	–	-15.11%	–
AR	Exit	ANTERO RESOURCES CORP	$0	–	-7,348,974	–	-16.69%	–
AMGP	Exit	ANTERO MIDSTREAM GP LP	$0	–	-11,539,560	–	-26.96%	–
JBGS	Exit	JBG SMITH PPTYS	$0	–	-10,290,136	–	-40.17%	–

Q3 2017

			Value		Shares		↓ Weighting
JBGS	New	JBG SMITH PPTYS	$352,026,000	–	10,290,136	–	40.17%	–
AMGP	Buy	ANTERO MIDSTREAM GP LP	$236,214,000	-3.2%	11,539,560	+3.9%	26.96%	-9.6%
AR	Sell	ANTERO RESOURCES CORP	$146,244,000	-13.8%	7,348,974	-6.3%	16.69%	-19.5%
EFA	Sell	ISHARES TRmsci eafe etf	$132,444,000	-59.8%	1,934,044	-61.7%	15.11%	-62.5%
FXI	Exit	ISHARES TRchina lg-cap etf	$0	–	-1,728,800	–	-8.39%	–

Q2 2017

			Value		Shares		↓ Weighting
EFA	New	ISHARES TRmsci eafe etf	$329,650,000	–	5,056,000	–	40.29%	–
AMGP	New	ANTERO MIDSTREAM GP LP	$244,138,000	–	11,107,272	–	29.84%	–
AR	New	ANTERO RESOURCES CORP	$169,574,000	–	7,846,974	–	20.72%	–
FXI	New	ISHARES TRchina lg-cap etf	$68,650,000	–	1,728,800	–	8.39%	–
BHVN	New	BIOHAVEN PHARMACTL HLDG CO L	$6,250,000	–	250,000	–	0.76%	–

Q4 2016

			Value		Shares		↓ Weighting
RUN	Exit	SUNRUN INC	$0	–	-46,200	–	-0.06%	–
TPB	Exit	TURNING POINT BRANDS INC	$0	–	-71,458	–	-0.19%	–
EFA	Exit	I SHARES MSCI EAFE INDEX FDmsci eafe etf	$0	–	-67,000	–	-0.87%	–
CRM	Exit	SALESFORCE.COM INC	$0	–	-85,259	–	-1.33%	–
AR	Exit	ANTERO RESOURCES CORP	$0	–	-3,468,136	–	-20.47%	–
VWO	Exit	VANGUARD MSCI EMERGING MARKETS ETFftse emr mkt etf	$0	–	-9,351,000	–	-77.08%	–

Q3 2016

			Value		Shares		↓ Weighting
VWO	Buy	VANGUARD MSCI EMERGING MARKETS ETFftse emr mkt etf	$351,878,000	+1749.0%	9,351,000	+1631.0%	77.08%	+1460.2%
AR	Sell	ANTERO RESOURCES CORP	$93,466,000	-59.5%	3,468,136	-60.9%	20.47%	-65.8%
CRM	New	SALESFORCE.COM INC	$6,082,000	–	85,259	–	1.33%	–
EFA	Sell	I SHARES MSCI EAFE INDEX FDmsci eafe etf	$3,962,000	-96.3%	67,000	-96.5%	0.87%	-96.9%
DEI	Exit	DOUGLAS EMMETT INC	$0	–	-11,663	–	-0.11%	–
SPY	Exit	SPDR S&P 500 ETF TRtr unit	$0	–	-2,329	–	-0.13%	–
FXI	Exit	ISHARES TRchina lg-cap etf	$0	–	-750,789	–	-6.67%	–

Q2 2016

			Value		Shares		↓ Weighting
AR	New	ANTERO RES CORP	$230,549,000	–	8,874,073	–	59.85%	–
EFA	New	ISHARES TRmsci eafe etf	$108,058,000	–	1,935,900	–	28.05%	–
FXI	New	ISHARES TRchina lg-cap etf	$25,692,000	–	750,789	–	6.67%	–
VWO	New	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$19,031,000	–	540,200	–	4.94%	–
TPB	New	TURNING PT BRANDS INC	$734,000	–	71,458	–	0.19%	–
SPY	New	SPDR S&P 500 ETF TRtr unit	$488,000	–	2,329	–	0.13%	–
DEI	New	DOUGLAS EMMETT INC	$414,000	–	11,663	–	0.11%	–
RUN	New	SUNRUN INC	$274,000	–	46,200	–	0.07%	–

Q4 2015

			Value		Shares		↓ Weighting
CORT	Exit	CORCEPT THERAPEUTICS INC	$0	–	-22,334	–	-0.03%	–
EFA	Exit	JPMORGAN CHASE & COetf	$0	–	-4,000	–	-0.08%	–
IRWD	Exit	TESARO INC	$0	–	-6,238	–	-0.08%	–
ATRA	Exit	ATARA BIOTHERAPEUTICS INC	$0	–	-9,260	–	-0.09%	–
IIN	Exit	PALO ALTO NETWORKS INC	$0	–	-33,927	–	-1.80%	–
ESMC	Exit	ISHARES FTSE/XINHUA CHINA 25 INDEX FUND	$0	–	-2,703,700	–	-29.59%	–
FXI	Exit	I SHARES MSCI EAFE INDEX FD	$0	–	-1,895,400	–	-33.52%	–
JPM	Exit	VANGUARD MSCI EMERGING MARKETS ETFetf	$0	–	-3,410,000	–	-34.82%	–

Q3 2015

			Value		Shares		↓ Weighting
JPM	New	VANGUARD MSCI EMERGING MARKETS ETFetf	$112,837,000	–	3,410,000	–	34.82%	–
FXI	New	I SHARES MSCI EAFE INDEX FD	$108,645,000	–	1,895,400	–	33.52%	–
ESMC	New	ISHARES FTSE/XINHUA CHINA 25 INDEX FUND	$95,900,000	–	2,703,700	–	29.59%	–
IIN	New	PALO ALTO NETWORKS INC	$5,835,000	–	33,927	–	1.80%	–
ATRA	New	ATARA BIOTHERAPEUTICS INC	$291,000	–	9,260	–	0.09%	–
IRWD	New	TESARO INC	$250,000	–	6,238	–	0.08%	–
EFA	Sell	JPMORGAN CHASE & COetf	$244,000	-99.8%	4,000	-99.8%	0.08%	-99.8%
CORT	New	CORCEPT THERAPEUTICS INC	$84,000	–	22,334	–	0.03%	–
INGN	Exit	INOGEN INC	$0	–	-8,892	–	-0.11%	–
AR	Exit	ANTERO RESOURCES CORP	$0	–	-90,000	–	-0.88%	–
LC	Exit	LENDINGCLUB CORP	$0	–	-434,566	–	-1.82%	–
ALXN	Exit	ALEXION PHARMACEUTICALS INC	$0	–	-319,273	–	-16.37%	–
VWO	Exit	VANGUARD MSCI EMERGING MARKETS ETFetf	$0	–	-3,258,000	–	-37.78%	–

Q2 2015

			Value		Shares		↓ Weighting
EFA	New	I SHARES MSCI EAFE INDEX FDmsci eafe etf	$151,703,000	–	2,389,400	–	43.04%	–
VWO	New	VANGUARD MSCI EMERGING MARKETS ETFetf	$133,187,000	–	3,258,000	–	37.78%	–
ALXN	New	ALEXION PHARMACEUTICALS INC	$57,715,000	–	319,273	–	16.37%	–
LC	New	LENDINGCLUB CORP	$6,410,000	–	434,566	–	1.82%	–
AR	New	ANTERO RESOURCES CORP	$3,091,000	–	90,000	–	0.88%	–
INGN	New	INOGEN INC	$396,000	–	8,892	–	0.11%	–

Q4 2014

			Value		Shares		↓ Weighting
INGN	Exit	INOGEN INC	$0	–	-24,413	–	-0.98%	–
NUE	Exit	NUCOR CORP	$0	–	-18,800	–	-1.98%	–
EFA	Exit	I SHARES MSCI EAFE INDEX FDmsci eafe etf	$0	–	-781,000	–	-97.05%	–

Q3 2014

			Value		Shares		↓ Weighting
EFA	Sell	I SHARES MSCI EAFE INDEX FDmsci eafe etf	$50,078,000	-20.6%	781,000	-15.4%	97.05%	+25.3%
NUE	New	NUCOR CORP	$1,020,000	–	18,800	–	1.98%	–
INGN	New	INOGEN INC	$503,000	–	24,413	–	0.98%	–
IWR	Exit	ISHARES RUSSELL MIDCAP INDEX FUNDmsci eafe etf	$0	–	-1,348	–	-0.27%	–
IWM	Exit	ISHARES RUSSELL 2000 INDEX FUNDmsci eafe etf	$0	–	-2,406	–	-0.35%	–
TWTR	Exit	TWITTER INC	$0	–	-50,405	–	-2.53%	–
WDAY	Exit	WORKDAY INC	$0	–	-77,093	–	-8.50%	–
VWO	Exit	VANGUARD MSCI EMERGING MARKETS ETFftse emr mkt etf	$0	–	-206,000	–	-10.90%	–

Q2 2014

			Value		Shares		↓ Weighting
EFA	New	I SHARES MSCI EAFE INDEX FDmsci eafe etf	$63,106,000	–	923,000	–	77.44%	–
VWO	New	VANGUARD MSCI EMERGING MARKETS ETFftse emr mkt etf	$8,885,000	–	206,000	–	10.90%	–
WDAY	New	WORKDAY INC	$6,927,000	–	77,093	–	8.50%	–
TWTR	New	TWITTER INC	$2,065,000	–	50,405	–	2.53%	–
IWM	New	ISHARES RUSSELL 2000 INDEX FUNDmsci eafe etf	$286,000	–	2,406	–	0.35%	–
IWR	New	ISHARES RUSSELL MIDCAP INDEX FUNDmsci eafe etf	$219,000	–	1,348	–	0.27%	–

Q4 2013

			Value		Shares		↓ Weighting
AREXQ	Exit	APPROACH RESOURCES INC	$0	–	-69,217	–	-1.92%	–
FB	Exit	FACEBOOK INCcl a	$0	–	-51,533	–	-2.74%	–
PANW	Exit	PALO ALTO NETWORKS INC	$0	–	-92,132	–	-4.46%	–
PGTI	Exit	PGT INC	$0	–	-528,391	–	-5.53%	–
P	Exit	PANDORA MEDIA INC	$0	–	-243,124	–	-6.46%	–
WDAY	Exit	WORKDAY INCcl a	$0	–	-117,704	–	-10.07%	–
VWO	Exit	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$0	–	-686,000	–	-29.09%	–
EFA	Exit	I SHARESmsci eafe etf	$0	–	-588,800	–	-39.72%	–

Q3 2013

			Value		Shares		↓ Weighting
EFA	Buy	I SHARESmsci eafe etf	$37,566,000	+74.6%	588,800	+57.0%	39.72%	-5.5%
VWO	Buy	VANGUARD INTL EQUITY INDEX Fftse emr mkt etf	$27,515,000	+35.9%	686,000	+31.4%	29.09%	-26.4%
WDAY	New	WORKDAY INCcl a	$9,526,000	–	117,704	–	10.07%	–
P	New	PANDORA MEDIA INC	$6,110,000	–	243,124	–	6.46%	–
PGTI	New	PGT INC	$5,234,000	–	528,391	–	5.53%	–
PANW	Sell	PALO ALTO NETWORKS INC	$4,221,000	-24.9%	92,132	-30.9%	4.46%	-59.3%
FB	New	FACEBOOK INCcl a	$2,589,000	–	51,533	–	2.74%	–
CRM	Exit	SALESFORCE.COM	$0	–	-9,092	–	-0.68%	–
SSTK	Exit	SHUTTERSTOCK INC	$0	–	-31,750	–	-3.46%	–

Q2 2013

			Value		Shares		↓ Weighting
EFA	New	I SHARES MSCI EAFE INDEX FDidx	$21,517,000	–	375,000	–	42.03%	–
VWO	New	VANGUARD MSCI EMERGING MARKETS ETFmkt etf	$20,243,000	–	522,000	–	39.54%	–
PANW	New	PALO ALTO NETWORKS INC	$5,619,000	–	133,269	–	10.98%	–
SSTK	New	SHUTTERSTOCK INC	$1,771,000	–	31,750	–	3.46%	–
AREXQ	New	APPROACH RESOURCES INC	$1,701,000	–	69,217	–	3.32%	–
CRM	New	SALESFORCE.COM	$347,000	–	9,092	–	0.68%	–

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