1. Company Directors - Y
2. Yale University

Insider Trading History of Yale University

The following table details the insider trading activities (stock purchases, stock sales, and stock option exercises) by Yale University since 2005. The trader's CIK number is 938582. At the time of the last reporting, Yale University was the Director of Jbg Smith Properties. (stock ticker symbol JBGS). Also see all insider trading activities at Jbg Smith Properties.

Note that in the past YALE UNIVERSITY also reported insider trading activities as an insider of the following companies:

Yearly summary of insider trading at Morgan Stanley Government Income Trust (GVT) by Yale University

		Insider Buying		Insider Sales		Option Exercises
Year	Symbol	Shares	Value	Shares	Value	Shares	Value
2006	GVT	1,900	$16,225	0	$0	0	$0
2006	GVT	30,300	$258,470	0	$0	0	$0

Yearly summary of insider trading at Jbg Smith Properties (JBGS) by Yale University

		Insider Buying		Insider Sales		Option Exercises
Year	Symbol	Shares	Value	Shares	Value	Shares	Value
2018	JBGS	0	$0	1,273,950	$50,326,830	0	$0

Yearly summary of insider trading at Acadia Realty Trust (AKR) by Yale University

		Insider Buying		Insider Sales		Option Exercises
Year	Symbol	Shares	Value	Shares	Value	Shares	Value
2008	AKR	279,100	$6,461,289	0	$0	0	$0
2007	AKR	108,000	$2,849,040	367,709	$10,046,125	0	$0
2006	AKR	0	$0	473,060	$10,751,881	0	$0
2005	AKR	0	$0	752,000	$13,389,407	0	$0

Insider trading activities at 3 companies by Yale University:

1. Morgan Stanley Government Income Trust (GVT)

2. Jbg Smith Properties (JBGS)

3. Acadia Realty Trust (AKR)

Table 1. Insider trading of Morgan Stanley Government Income Trust (GVT) by Yale University

Trade Date	Symbol	Trade Type	Shares	Price ($)	Value ($)
2006-07-14	GVT	Buy	1,900	8.54	16,225
2006-08-02	GVT	Buy	2,200	8.60	18,920
2006-07-13	GVT	Buy	1,500	8.49	12,735
2006-06-28	GVT	Buy	2,900	8.51	24,679
2006-07-12	GVT	Buy	12,700	8.53	108,330
2006-07-05	GVT	Buy	1,600	8.52	13,624
2006-07-03	GVT	Buy	9,400	8.53	80,182

Table 2. Insider trading of Jbg Smith Properties (JBGS) by Yale University

Trade Date	Symbol	Trade Type	Shares	Price ($)	Value ($)
2018-12-10	JBGS	Sale	131,000	38.39	5,029,090
2018-12-11	JBGS	Sale	15,233	38.27	582,966
2018-12-12	JBGS	Sale	20,600	38.04	783,624
2018-12-07	JBGS	Sale	146,913	39.58	5,814,816
2018-12-06	JBGS	Sale	150,000	39.74	5,961,000
2018-12-03	JBGS	Sale	60,000	40.17	2,410,200
2018-12-04	JBGS	Sale	100,000	39.80	3,979,500
2018-11-30	JBGS	Sale	55,000	39.83	2,190,650
2018-11-29	JBGS	Sale	45,392	39.40	1,788,444
2018-11-27	JBGS	Sale	100,000	39.07	3,907,000
2018-11-28	JBGS	Sale	53,279	39.20	2,088,536
2018-11-23	JBGS	Sale	51,000	39.99	2,039,490
2018-11-26	JBGS	Sale	75,000	39.59	2,968,875
2018-11-21	JBGS	Sale	100,000	40.04	4,004,000
2018-11-19	JBGS	Sale	30,000	40.48	1,214,400
2018-11-20	JBGS	Sale	100,000	40.19	4,019,000
2018-06-15	JBGS	Sale	40,533	38.12	1,545,239

Table 3. Insider trading of Acadia Realty Trust (AKR) by Yale University

Trade Date	Symbol	Trade Type	Shares	Price ($)	Value ($)
2008-02-29	AKR	Buy	25,100	22.83	572,932
2008-02-28	AKR	Buy	45,000	23.04	1,036,710
2008-02-27	AKR	Buy	30,000	23.36	700,650
2008-02-27	AKR	Buy	20,000	23.66	473,300
2008-02-26	AKR	Buy	17,000	23.81	404,821
2008-02-26	AKR	Buy	8,000	24.06	192,488
2008-02-25	AKR	Buy	11,600	23.80	276,056
2008-02-25	AKR	Buy	15,000	23.51	352,590
2008-02-25	AKR	Buy	23,400	23.21	543,114
2008-02-21	AKR	Buy	20,000	22.96	459,280
2008-02-21	AKR	Buy	30,000	22.66	679,950
2008-02-22	AKR	Buy	7,800	22.89	178,510
2008-02-22	AKR	Buy	26,200	22.55	590,888
2007-11-30	AKR	Buy	108,000	26.38	2,849,040
2007-05-30	AKR	Sale	20,000	28.08	561,600
2007-05-31	AKR	Sale	10,000	28.29	282,850
2007-05-14	AKR	Sale	10,000	27.88	278,800
2007-05-11	AKR	Sale	10,000	27.77	277,700
2007-05-07	AKR	Sale	5,600	27.41	153,468
2007-05-04	AKR	Sale	20,000	27.31	546,220
2007-05-03	AKR	Sale	47,700	27.18	1,296,629
2007-05-02	AKR	Sale	24,409	27.03	659,677
2007-02-28	AKR	Sale	109,200	26.98	2,946,216
2007-02-27	AKR	Sale	50,800	27.02	1,372,565
2007-02-20	AKR	Sale	60,000	27.84	1,670,400
2006-08-14	AKR	Sale	300	23.70	7,110
2006-08-08	AKR	Sale	3,000	23.72	71,169
2006-08-09	AKR	Sale	800	23.61	18,884
2006-08-07	AKR	Sale	11,200	23.69	265,328
2006-08-04	AKR	Sale	15,000	23.76	356,400
2006-05-10	AKR	Sale	19,000	22.93	435,670
2006-05-08	AKR	Sale	10,600	22.82	241,892
2006-05-05	AKR	Sale	10,600	22.90	242,739
2006-05-04	AKR	Sale	20,000	22.61	452,100
2006-05-03	AKR	Sale	15,300	22.57	345,336
2006-05-02	AKR	Sale	20,000	22.50	450,000
2006-03-13	AKR	Sale	4,342	23.07	100,156
2006-03-10	AKR	Sale	46,190	22.80	1,052,947
2006-03-09	AKR	Sale	46,190	22.40	1,034,702
2006-03-08	AKR	Sale	30,209	22.09	667,407
2006-03-07	AKR	Sale	107,809	22.34	2,408,129
2006-03-06	AKR	Sale	56,260	23.12	1,300,956
2006-03-06	AKR	Sale	56,260	23.12	1,300,956
2005-11-15	AKR	Sale	30,000	19.55	586,350
2005-11-11	AKR	Sale	16,245	19.43	315,575
2005-11-10	AKR	Sale	208,755	19.17	4,001,207
2005-08-16	AKR	Sale	497,000	17.07	8,486,275

Insider trading activities including stock purchases, stock sales, and option exercises listed in the above table cannot be completely guaranteed as to their accuracy. For more information regarding the trades made by Yale University (Director of Jbg Smith Properties at the time of this reporting) see the Securities and Exchange Commission (SEC) website.

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