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Harvard Added Texas Energy Companies During Third Quarter

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Harvard University’s endowment took new stakes in a dozen Texas-based oil and gas companies in the latest quarter, according to a regulatory filing last week, as a plunge in crude prices led to energy stock declines.

The largest university endowment bought positions in companies including Kinder Morgan Energy Partners LP, Dresser-Rand Group Inc. and Anadarko Petroleum Corp., helping increase the market value of its U.S. equities in the energy industry by $326.4 million to $366.6 million as of Sept. 30. Energy comprised about a third of Harvard’s $1.1 billion in U.S. public equity holdings, the second-largest industry, after health care. The holdings disclosed in the filing account for about 3 percent of the endowment’s assets, and may not represent Harvard’s broad investment strategy.