Harvard Management Company has made Blackrock's iShares Bitcoin Trust (IBIT) its largest public equities holding, according to its latest SEC 13F filing. As of November 14, 2025, Harvard holds 6.8 million IBIT shares valued at approximately $442.9 million, accounting for 21.04% of its U.S. public portfolio. This represents a 257% increase in IBIT holdings from the second quarter of 2025, surpassing major stocks like Microsoft and Amazon. The filing highlights a $2.105 billion public securities portfolio, with IBIT's stake comprising about 1% of Harvard's total $56.9 billion endowment. Analyst Eric Balchunas remarked on the significance of this move, noting it as a major endorsement for ETFs by a traditionally conservative institution.