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GEM
Global Endowment Management Portfolio holdings
AUM
$896M
1-Year Est. Return
13.86%
This Fund
S&P 500
This Quarter
Est. Return
+3.21%
1 Year Est. Return
+13.86%
3 Year Est. Return
+35.84%
5 Year Est. Return
+30.88%
10 Year Est. Return
+166.37%
AUM
$467M
AUM Growth
-$76.8M
(-14%)
Cap. Flow
-$81.4M
Cap. Flow
% of AUM
-17.42%
Top 10 Holdings %
Top 10 Hldgs %
56.64%
Holding
239
New
32
Increased
25
Reduced
58
Closed
25
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
|
+$2.3M |
| 2 |
Credit Acceptance
CACC
|
+$1.91M |
| 3 |
Sprott Physical Gold
PHYS
|
+$1.72M |
| 4 |
iShares 3-7 Year Treasury Bond ETF
IEI
|
+$1.69M |
| 5 |
Royce Value Trust
RVT
|
+$1.59M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
JD.com
JD
|
+$15.8M |
| 2 |
CLNY
Colony Capital, Inc.
CLNY
|
+$6.68M |
| 3 |
KKR & Co
KKR
|
+$6.61M |
| 4 |
FIG
Fortress Investment Group Llc
FIG
|
+$6.56M |
| 5 |
Apollo Global Management
APO
|
+$4.44M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.41% |
| 2 | Consumer Discretionary | 11.2% |
| 3 | Communication Services | 7.89% |
| 4 | Real Estate | 6.34% |
| 5 | Technology | 4.73% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
226
Plains GP Holdings
PAGP
$5.23B
| – | – |
-51,510
| Closed | -$1.3M |
|
|
PGRE
227
DELISTED
Paramount Group
PGRE
| – | – |
-139,890
| Closed | -$2.53M |
|
228
PVH
PVH
$3.71B
| – | – |
-3,100
| Closed | -$228K |
|
229
Tanger
SKT
$4.82B
| – | – |
-70,400
| Closed | -$2.3M |
|
230
Teekay
TK
$975M
| – | – |
-54,330
| Closed | -$536K |
|
231
Targa Resources
TRGP
$60.4B
| – | – |
-28,790
| Closed | -$779K |
|
232
Williams Companies
WMB
$90.5B
| – | – |
-50,680
| Closed | -$1.3M |
|
|
DRE
233
DELISTED
Duke Realty Corp.
DRE
| – | – |
-121,100
| Closed | -$2.55M |
|
|
ENBL
234
DELISTED
ENABLE MIDSTREAM PARTNERS, LP
ENBL
| – | – |
-236,940
| Closed | -$2.18M |
|
|
TOO
235
DELISTED
Teekay Offshore Partners L.P.
TOO
| – | – |
-87,240
| Closed | -$566K |
|
|
RMP
236
DELISTED
Rice Midstream Partners LP
RMP
| – | – |
-148,650
| Closed | -$2.01M |
|
|
WNRL
237
DELISTED
Western Refining Logistics, LP
WNRL
| – | – |
-76,680
| Closed | -$1.88M |
|
|
GTU
238
DELISTED
CENTRAL GOLD TR (CANADA)
GTU
| – | – |
-40,000
| Closed | -$1.51M |
|
|
WES
239
DELISTED
Western Gas Partners Lp
WES
| – | – |
-56,370
| Closed | -$2.68M |
|
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Global Endowment Management's Q1 2016 Portfolio in Review
As of Q1 2016, Global Endowment Management held 239 positions worth $467M, down 14% from $544M the previous quarter. Its ten largest holdings account for 57% of the portfolio.
Global Endowment Management withdrew a net $81.4M in Q1 2016, closing 25 positions and reducing 58 holdings. Its most notable exit was JD.com, an estimated $15.8M position sold in full.
By sector, the portfolio is most concentrated in Financials at 23% of assets, up from 23% a quarter earlier, followed by Consumer Discretionary and Communication Services.
Against the trend, Global Endowment Management opened a new position in iShares iBoxx $ Investment Grade Corporate Bond ETF worth $2.38M.
- Global Endowment Management's largest Q1 2016 buy was iShares iBoxx $ Investment Grade Corporate Bond ETF: 20,000 shares worth $2.38M.
- Global Endowment Management added most to Credit Acceptance in Q1 2016, an estimated $1.91M increase.
- Global Endowment Management's biggest Q1 2016 reduction was Colony Capital, Inc., cutting an estimated $6.68M.
- Global Endowment Management fully exited JD.com in Q1 2016, selling an estimated $15.8M.
- Global Endowment Management's ten largest holdings make up 57% of its $467M portfolio in Q1 2016.
- Global Endowment Management opened 32 new positions and closed 25 in Q1 2016.
- Global Endowment Management's portfolio value fell 14% quarter-over-quarter to $467M.
Based on Global Endowment Management's 13F filing for Q1 2016, filed 13 May 2016.