William and Flora Hewlett Foundation
also referred to as: the william and flora hewlett foundation
29 statements across 5 episodes · 5 bullish · 3 bearish · 3 people on the record · first statement Aug 6, 2018 by Roz Hewsenian · said 33 times in 16 episodes since 2018 · across every show →
Mentions by year
brought up most by Ted Seides (14), Ana Marshall (7), Hank Sturmack (6), Roz Hewsenian (2), Luis Laboy (1), Kimberly Sargent (1), Elisa Maul (1), Chris Heller (1)
tap a year for its mentions
2026 7 mentions in 1 episode
2024 5 mentions in 2 episodes 3 per episode
2023 9 mentions in 9 episodes 1 per episode
- WTT - NAV Loans: Canary or the Gold Mine?
- Kimberly Sargent – Passion and Mission at the Packard Foundation (EP.333)
- Seth Klarman – Timeless Value Investing (EP.328)
- Ravi Viswanathan – Venture Secondaries and Growth Capital at NewView (EP.327)
- Don Mullen –Single-Family Rentals at Pretium (Capital Allocators, EP.324)
- Matt Breitfelder – Optimizing Investment Performance through Human Capital (Capital Allocators, EP.323)
- Jim Falbe – Modern Value Investing at Saguaro (Capital Allocators, EP.320)
- Adam Shapiro – Post-Breeding Grounds for Rising Stars and Families (Capital Allocators, EP.319)
- 1 more episode that year, every mention in 2023 →
2022 5 mentions in 2 episodes 3 per episode
2019 5 mentions in 1 episode
Everything said about William and Flora Hewlett Foundation, oldest first
Aug 6, 2018
Helmsley holds higher safe asset allocations than peer foundations like Hewlett
“Robert Wood Johnson, Hewlett Packard, if you look at what their allocations are for the equivalent of our safe assets category, it's more in the 10 to 12% range. We're higher, but we've been far more selective in the private capital range and more concentrated…”
Oct 21, 2019 neutral
Oct 21, 2019
Oct 21, 2019 bearish
Marshall: Hewlett exited long/short equity over paying 2-and-20 for beta
“What we decided is we can short cheaper than a hedge fund just based on our balance sheet if we ever wanted to. So why are we paying two and 20 to have somebody short beta for us? Why don't we just hire the best stock pickers on the planet? And then we can fig…”
Oct 21, 2019 neutral
Oct 21, 2019 positive
Hewlett Foundation limits each asset class to 10 to 12 managers
“When we have an asset class, we only have roughly 10 to 12 managers per asset class. And so, each one of those managers, in and of themselves, for the most part, is a concentrated portfolio manager. So in effect, you basically have a hundred stock portfolio, w…”
Oct 21, 2019 positive
Oct 21, 2019
Oct 21, 2019 positive
Oct 21, 2019
Marshall: Hewlett Foundation executed secondary sale to reset real estate portfolio
“We had to accept that we made a pretty significant mistake in the way that we had constructed our real estate portfolio, and it happened to be at the time when we were also switching coverage, and we ended up basically doing a secondary sale and starting over.”
Oct 21, 2019 neutral
Oct 21, 2019 neutral
Oct 21, 2019 positive
Marshall: Large foundation CIOs conduct annual open-book portfolio sharing
“We also have a more dedicated group, which is the large foundations, who share I would say similar challenges in that the granting programs and just the board ambition for granting programs really does color the type of risk and the type of duration we can run…”
Oct 21, 2019 neutral
Oct 21, 2019 neutral
Oct 21, 2019 neutral
Oct 21, 2019 positive
Marshall: Endowments shifted from treasurers to professional investment teams around 2002-2003
“And at this time was right when endowment and foundation money management was undergoing its own level of professionalization. For decades before that, you had had sort of the treasurer of the university or the treasurer of a foundation serve as the primary pe…”
Dec 19, 2022 neutral
Dec 19, 2022 negative
Marshall: The fund boom massively expanded the universe of non-excellent managers
“There are very few really consistently excellent stock pickers. There are very few consistently excellent bond investors, just like in venture and just like in buyout. The last 15 years have massively expanded the universe of funds and firms. That weren't exce…”
Dec 19, 2022
Marshall: Hewlett Foundation maintains 50% illiquid assets and 5% cash buffer
“We have probably about 50% of the portfolio in illiquids. So we have about, I would say four to five percent in cash, some so that we can bridge what should be the contribution to pay out, and some so we can lean into dislocations.”
Jan 8, 2024
Marshall: Portfolio maturation reveals team burnout and relationship management mismatches
“Somewhere I would say between third camp and the summit, you start seeing people fray. It's funny because in climbing, you think these are all proportional, base camp to first camp to second camp. Going from third camp where you've built your portfolio to the …”
Jan 8, 2024
Hewlett Foundation requires three validation objectives for every manager meeting
“We walk into every meeting with, these are the three things we have to walk out knowing, to confirm, to validate, and you have to walk out of the meeting, and then In the next team meeting, talk about whether that meeting led you to have more conviction, highe…”
Jan 8, 2024
Marshall: Hewlett Foundation uses pre-mortem 'kill lists' for manager due diligence
“Not only do we start with a list of concerns, we also, thanks to your great guest, Annie Duke, we started adding what we call a kill list. So think of it as a pre-mortem. Pre-identify places where the firm, the manager style may not work.”
Jan 8, 2024
Jul 20, 2026 negative
Laboy: Pitching "quality compounders" cedes narrative control to the LP
“The minute a manager comes in and tells you that they invest in quality compounders, the part that we all don't realize is they've ceded control of the conversation now to the listener. When you use a buzzword like that, the listener is going to fill the gap i…”
Jul 20, 2026
Laboy: Most Hewlett redemptions stem from internal strategy shifts, not talent
“What ends up happening more times than not is that You end up redeeming from a manager because we're shifting our perspective on what's changing in the market. We have to redeem from a manager that otherwise I think is extraordinarily talented, and I wish them…”
Jul 20, 2026
Jul 20, 2026
Laboy: Hewlett's next-gen sleeve lowers confidence hurdles but maintains quality standards
“One of the structures that I did is I broke the portfolio into two where I had this core portfolio, and then you carve out a piece of the portfolio for this next generation set of managers where the hurdle isn't lower. We're still trying to find the same quali…”