Yale University’s endowment sold 71 percent of its holding in JBG Smith Properties, leaving the school with a nearly $47 million stake in the real estate investment trust, according to a regulatory filing.

Yale, at $29.4 billion the country’s third-largest college endowment, typically doesn’t own much in direct U.S. equities and has more than 60 percent of investments in alternatives such as private equity and hedge funds.

Still, JBG Smith, which soared 19 percent last quarter, was the fund’s largest stock holding as of March 31, Tuesday’s filing shows.

Yale sold about 2.74 million shares last quarter, leaving it with 1.13 million shares valued at $46.7 million at the end of March, according to the filing. The real estate investment trust, a top office landlord in Arlington’s Crystal City area, owns space where Amazon.com Inc. plans to build a campus in Northern Virginia.