Harry Stebbings(@HarryStebbings):What is the right level of diversification for a $19 billion endowment? “The quantitative benefits from diversification trail off really quickly when you get more than 20 or 30 names in the portfolio. There are really no quantitative benefits beyond 30 underlying look-through exposures. We target roughly half of our portfolio in our top 50 look-through positions. It is still very diversified.” Love to hear your thoughts @choffstein @MebFaber @dampedspring @awealthofcs

2026.11.09 02:40

What is the right level of diversification for a $19 billion endowment? “The quantitative benefits from diversification trail off really quickly when you get more than 20 or 30 names in the portfolio. There are really no quantitative benefits beyond 30 underlying look-through exposures. We target roughly half of our portfolio in our top 50 look-through positions. It is still very diversified.” Love to hear your thoughts @choffstein @MebFaber @dampedspring @awealthofcs