NORTHWESTERN UNIVERSITY

Fundamental diversified ★Signal financials specialist (100%) CIK 873687
Long book
$51.5M
Q1 2026
Positions
3
Top-10 weight
100%
concentration
Last quarter
+7.5%
SPY +14.8%
Turnover
75%
of book per quarter

Strategy in plain words

auto-generated from filings

NORTHWESTERN UNIVERSITY is a diversified fundamental manager, specialised in financials (100% of the long book), running a $51.5M US long book across 3 positions.

The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: BERKSHIRE HATHAWAY INC-CL A, RYAN SPECIALTY HOLDINGS INC, EXICURE INC.

Over the last 9 quarters its long book ran on average 2pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.

Implied long-book return vs S&P 500

methodology: positions priced quarterly, no shorts/options
Fund long book S&P 500
Q1 2024
-2.6%
Q2 2024
+12.9%
Q3 2024
-1.9%
Q4 2024
+17.0%
Q1 2025
-8.2%
Q2 2025
+0.5%
Q3 2025
-0.9%
Q4 2025
-1.8%
Q1 2026
+7.5%

Sector allocation

Financials
100%
Healthcare
0%

Long book by quarter

$107.7M
Q1 2024
$92.8M
Q2 2024
$85.1M
Q3 2024
$62.4M
Q4 2024
$62.5M
Q1 2025
$56.4M
Q2 2025
$56.6M
Q3 2025
$106K
Q4 2025
$51.5M
Q1 2026

What does NORTHWESTERN UNIVERSITY own?

Q1 2026 13F
CompanySectorSharesValue% of bookChange
BRK/A BERKSHIRE HATHAWAY INC-CL AFinancials66$47.4M92.1%-85.5%
RYAN RYAN SPECIALTY HOLDINGS INCFinancials119.0K$4.0M7.8%New
XCUR EXICURE INCHealthcare10.4K$44K0.1%New

13F filing history

PeriodFormFiledEntriesReported valueFlagsSource
Q1 202613F-HRApr 16, 20263$51.5M canonicalSEC ↗
Q4 202513F-HRJan 26, 20265$64.8M canonicalSEC ↗
Q3 202513F-HROct 29, 20254$56.6M canonicalSEC ↗
Q2 202513F-HRJul 16, 20254$56.4M canonicalSEC ↗
Q1 202513F-HRApr 16, 20255$62.5M canonicalSEC ↗
Q4 202413F-HRJan 28, 20256$62.4M canonicalSEC ↗
Q3 202413F-HRNov 12, 20246$85.1M canonicalSEC ↗
Q2 202413F-HRJul 29, 20246$92.8M $K fixed canonicalSEC ↗
Q1 202413F-HRApr 18, 20246$107.7M $K fixed canonicalSEC ↗