https://www.institutionalinvestor.com/article/b18…
This was Swensen's original rebuttal article against the activists.
Swensen writes: "Quite simply stated, Yale’s endowment has no exposure to private prison management companies. Where does the activists’ assertion come from? The activists note that a Securities and Exchange Commission (SEC) filing on March 31, 2017, discloses Yale’s holdings of $345 million in Vanguard’s Emerging Markets Exchange Traded Fund, VWO. Observing that Vanguard is the largest holder of private prison companies GEO and CoreCivic, the activists imply that Yale has exposure to the companies through VWO. This assertion is completely untrue.
VWO invests in stocks of companies located in emerging markets. The private prison companies cited by activists as Vanguard holdings, GEO and CoreCivic, are headquartered in the United States. That inconvenient fact failed to deter the activists from making a dishonest argument."
Student activists, please at least acquire a modicum of financial literacy and decency before criticizing the man who's most likely subsidizing your tuition and expenses.
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