Trustees of the University of Pennsylvania
Trustees of the University of Pennsylvania reported 5 US-listed holdings worth $104.2 million in its 13F for the quarter ended 30 June 2026, filed 10 August 2026. Its largest: Karman Holdings Inc. (79.1%), USA Rare Earth Inc. (10.2%) and Cerebras Systems Inc. Com Class A (6.8%). Against the quarter before, it opened 2 positions, added to 0, trimmed 3 and sold out of 1.
The 5 largest of its 5 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +3.0% over the 2 quarters to 30 June 2026, against +9.5% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 2
- Cerebras Systems Inc. Com Class A CBRS$7.1 million
- Amprius Technologies Inc. AMPX$151,476
Trimmed 3
- USA Rare Earth Inc. USAR-4.4 million shares · -90%
- Intuitive Machines Inc. LUNR-3.1 million shares · -94%
- Karman Holdings Inc. KRMN-300,000 shares · -15%
Sold out of 1
- Krispy Kreme Inc. DNUT$6.8 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Karman Holdings Inc. KRMN | 1.7M | $82.5 million | 79.14% | -300.0K |
| USA Rare Earth Inc. USAR | 493.1K | $10.6 million | 10.21% | -4.4M |
| Cerebras Systems Inc. Com Class A CBRS | 32.1K | $7.1 million | 6.81% | new |
| Intuitive Machines Inc. LUNR | 180.0K | $3.9 million | 3.69% | -3.1M |
| Amprius Technologies Inc. AMPX | 10.9K | $151,476 | 0.15% | new |