Harvard Sells Off Investments in Israel

During the second quarter of 2010, Harvard University sold all its shares in Israeli companies, totaling to $41.5 million.

The Harvard Management Company, the investment group managing the university’s endowment, reported this to US Securities and Exchange Commission (SEC).

Among all the schools in the world, Harvard was said to have the largest endowment totaling to $26 billion. With its $41.5 million investments in Israeli companies, the $30.5 million of which is in Teva Pharmaceutical Industries Ltd; $3.6 million is in Check Point Software Technologies; $1.8 million is in Partner Communications Ltd.; $1.67 is in NICE Systems Ltd.; and $1.1 million is in Cellcom Israel Ltd.

The reason for the sale hasn’t been announced yet, although the sell-off of the Israeli shares was praised by advocates from the BDS National Committee in Palestine. The committee is an international campaign for boycotts, divestment and sanctions (BDS) against Israel, pushing the country to withdraw from all territories occupied in the 1967 War and abide by international law.