13F filer · CIK 873687 ↗
Northwestern University
You are looking at Q4 2025. See the latest, Q3 2026 →
Reported value
$105.7M
+87% on the quarter before
Positions
2
1 new · 3 sold out
Top 10
100.0%
of the value
Est. gain
+$41.0M
on stocks held all quarter
Est. return
+83.6%
on those stocks since Q3 2025
Positions as of Dec 31, 2025, from Northwestern University's 13F filing with the SEC. A 13F lists a manager's US-listed stocks and options at a quarter end and is filed up to 45 days later, so the fund may hold something else today. It leaves out short positions, cash and holdings outside the US.
Portfolio at a glance
- New
- Added
- Cut
- Same
- Options
Each tile is a position, sized by its share, colored by what the fund did with it since Q3 2025. Striped tiles are options.
Largest buys
Since Q3 2025, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Black Stone Minerals L P~$15.7MNew · 0.0% → 14.8%+1,086,025 shares
Largest sells
Since Q3 2025, by estimated size: the change in shares at the quarter-end price, since a 13F gives no trade prices. Percentages are the position's share of the portfolio, before and after.
- Ryan Specialty Holdings Inc~$6.7MSold out · 11.9% → 0.0%−119,046 shares
- Berkshire Hathaway Inc Del~$1.4MCut · 88.0% → 85.2%−7 shares
- Actuate Therapeutics Inc~$43,405Sold out · 0.1% → 0.0%−6,488 shares
- Exicure Inc~$42,659Sold out · 0.1% → 0.0%−10,430 shares
Holdings
As of Dec 31, 2025. Changes are in shares against Sep 30, 2025, so a price move alone never reads as a buy or a sale.
| Holding | Value | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Berkshire Hathaway Inc DelCOM · shares −1.5% · price +83.6% | 85.2% | $90.0M | +$41.0M | ||||||||
| Black Stone Minerals L PCOM UNIT · shares New | 14.8% | $15.7M | — | ||||||||
| Total · 2 positions | 100% | $105.7M | +$41.0M |
Price is a stock's reported value over its shares at the quarter end. The estimated gain is the shares held at both quarter ends times the change in that price: shares bought or sold during the quarter add nothing, options are left out, and a stock split is read into the earlier share count and price.
What made money
From Q3 2025 to Q4 2025: 1 stocks held throughout, up $41.0M (+83.6%).
- Berkshire Hathaway Inc Del7:1 split+$41.0M+84%
Estimated as in the holdings table: shares held at both quarter ends times the change in price; options left out, 1 split read into the share counts.
Reported value by quarter
The total value of each quarter's 13F at that quarter end. It moves with prices as well as with buying and selling. Pick a quarter to see what the fund held then.
Every quarter's filing
| Quarter | Reported value | Filing | |
|---|---|---|---|
| Q3 2026 | Oct 21, 2026 | $64.5M+2% | SEC ↗ |
| Q2 2026 | Jul 9, 2026 | $63.3M+23% | SEC ↗ |
| Q1 2026 | Apr 16, 2026 | $51.5M−51% | SEC ↗ |
| Q4 2025 | Jan 26, 2026 | $105.7M+87% | SEC ↗ |
| Q3 2025 | Oct 29, 2025 | $56.6M+0% | SEC ↗ |
| Q2 2025 | Jul 16, 2025 | $56.4M−10% | SEC ↗ |
| Q1 2025 | Apr 16, 2025 | $62.5M+0% | SEC ↗ |
| Q4 2024 | Jan 28, 2025 | $62.4M−27% | SEC ↗ |
| Q3 2024 | Nov 12, 2024 | $85.1M−8% | SEC ↗ |
| Q2 2024 | Jul 29, 2024 | $92.8M−14% | SEC ↗ |
| Q1 2024 | Apr 18, 2024 | $107.7M−4% | SEC ↗ |
| Q4 2023 | Jan 11, 2024 | $112.2M−13% | SEC ↗ |
| Q3 2023 | Oct 30, 2023 | $129.3M+27% | SEC ↗ |
| Q2 2023 | Jul 25, 2023 | $102.0M−9% | SEC ↗ |
| Q1 2023 | May 1, 2023 | $112.2M+8% | SEC ↗ |
| Q4 2022 | Jan 26, 2023 | $104.3M+3% | SEC ↗ |
| Q3 2022 | Oct 19, 2022 | $101.6M+6% | SEC ↗ |
| Q2 2022 | Jul 13, 2022 | $95.4M−21% | SEC ↗ |
| Q1 2022 | May 19, 2022 | $120.6M+10% | SEC ↗ |
| Q4 2021 | Feb 1, 2022 | $109.3M+7% | SEC ↗ |
| Q3 2021 | Oct 26, 2021 | $102.5M−15% | SEC ↗ |
| Q2 2021 | Jul 27, 2021 | $120.2M+31% | SEC ↗ |
| Q1 2021 | May 4, 2021 | $91.7M−38% | SEC ↗ |
| Q4 2020 | Jan 29, 2021 | $147.8M−11% | SEC ↗ |
| Q3 2020 | Oct 28, 2020 | $165.8M+9% | SEC ↗ |
| Q2 2020 | Aug 4, 2020 | $152.0M+3% | SEC ↗ |
| Q1 2020 | Apr 30, 2020 | $147.1M−29% | SEC ↗ |
| Q4 2019 | Feb 5, 2020 | $205.8M+7% | SEC ↗ |
| Q3 2019 | Oct 31, 2019 | $192.4M−4% | SEC ↗ |
| Q2 2019 | Aug 6, 2019 | $199.7M+21% | SEC ↗ |
| Q1 2019 | May 8, 2019 | $164.9M+4% | SEC ↗ |
| Q4 2018 | Feb 4, 2019 | $157.8M−6% | SEC ↗ |
| Q3 2018 | Nov 5, 2018 | $168.5M+12% | SEC ↗ |
| Q2 2018 | Aug 9, 2018 | $151.1M−44% | SEC ↗ |
| Q1 2018 | May 10, 2018 | $269.4M+21% | SEC ↗ |
| Q4 2017 | Jan 22, 2018 | $221.8M+54% | SEC ↗ |
| Q3 2017 | Nov 1, 2017 | $143.8M+8% | SEC ↗ |
| Q2 2017 | Aug 9, 2017 | $133.0M+1% | SEC ↗ |
| Q1 2017 | May 1, 2017 | $131.6M+0% | SEC ↗ |
| Q4 2016 | Feb 3, 2017 | $131.5M−2% | SEC ↗ |
| Q3 2016 | Nov 8, 2016 | $134.5M+16% | SEC ↗ |
| Q2 2016 | Jul 25, 2016 | $115.6M+3% | SEC ↗ |
| Q1 2016 | Apr 26, 2016 | $112.3M | SEC ↗ |