December 12, 2011 12:00 AM

Table: U.S. endowment hedge fund portfolio performance

Ranked by one-year return; assets, in millions, and performance are as of June 30, 2011.

Institution	One-year return	Bench- mark	Outper- formance %	Total fund perform- ance	Total assets	Hedge fund assets	HF assets as % of total assets
University of Virginia (long/short equity)*	16.3%	N/A	N/A	24.3%	$5,347	$1,187	22.2%
Yale University	12.7%	N/A	N/A	21.9%	$19,900	$3,298	17.0%
The University of Texas System	12.5%	6.5%	6.0%	20.3%	$20,100	$5,889	29.3%
University of California	12.3%	2.5%	9.8%	20.5%	$6,731	$1,571	23.3%
Harvard University	11.6%	9.6%	2.0%	21.4%	$32,000	$5,120	16.0%
Cornell University (hedged equity)*	8.0%	13.8%	-5.8%	19.9%	$4,922	$540	7.6%
Cornell University (marketable alternatives)*	7.7%	5.3%	2.4%	19.9%	$4,922	$765	8.7%
University of Virginia (absolute return)*	7.4%	N/A	N/A	N/A	$5,347	$438	8.2%
Total					$89,000	$18,370
HFR Fund Weighted Composite index	11.50%
HFR Fund of Funds Composite index	6.68%
*Endowment maintains separate hedge fund portfolios. Source: endowment fund documents