Howard Hughes Medical Institute (HHMI) is an independent non-profit private foundation based in Chevy Chase, Maryland. Established in 1953, the foundation's mission to advance biomedical research and science education for the benefit of humanity. The assets of the foundation are managed by the board of trustees.Howard Hughes Medical Institute's investment portfolio is valued at $23.04 billion, with investments in domestic and international equity, fixed income, private equity, infrastructure, hedge fund, and cash.