Vanderbilt University, Nashville, sold 1.2 million shares of the 2 million shares of Ingram Micron Inc. it got as part of an ultimate donation of 8 million shares, said William T. Spitz, treasurer. The $1.5 billion endowment received $50 million in proceeds in a sale to a private buyer. It worked with the Ingram family, which donated the stock, to help arrange the transaction. The endowment is retaining 800,000 shares for now because the price of the stock has dropped a lot, Mr. Spitz said. It was trading recently in the high teens. The stock previously was sold around $41 a share. The fund eventually will receive another 6 million shares of the stock, although there is no timetable for when the donation will be made. The $50 million was allocated to existing managers. Mr. Spitz said the fund could sell all the Ingram Micron stock upon receipt. Proceeds would be allocated among existing managers; there are no plans to add managers. He noted the $50 million is a small amount of money in relation to the total endowment.