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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
+2.45%
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
$842M
AUM Growth
-$97.3M
Cap. Flow
-$120M
Cap. Flow %
-14.22%
Top 10 Hldgs %
77.79%
Holding
104
New
1
Increased
12
Reduced
19
Closed
19

Top Buys

Rank Stock Value
1
XLP icon
State Street Consumer Staples Select Sector SPDR ETF
XLP
+$8.66M
2
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$7.96M
3
MBB icon
iShares MBS ETF
MBB
+$6.03M
4
VNQ icon
Vanguard Real Estate ETF
VNQ
+$4.96M
5
HYG icon
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
+$2.42M

Top Sells

Rank Stock Value
1
MGC icon
Vanguard Mega Cap 300 Index ETF
MGC
+$44.5M
2
AMZN icon
Amazon
AMZN
+$30.9M
3
VTI icon
Vanguard Total Stock Market ETF
VTI
+$13.6M
4
VXUS icon
Vanguard Total International Stock ETF
VXUS
+$6.98M
5
CACC icon
Credit Acceptance
CACC
+$6.26M

Sector Composition

Rank Sector Weight
1 Financials 0.94%
2 Communication Services 0.47%
3 Technology 0.47%
4 Consumer Discretionary 0.25%
5 Real Estate 0.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ANGL icon
51
VanEck Fallen Angel High Yield Bond ETF
ANGL
$3.07B
$1.39M 0.16%
50,000
– –
NIE
52
Virtus Equity & Convertible Income Fund
NIE
$718M
$1.27M 0.15%
60,000
– –
ASHR icon
53
Xtrackers Harvest CSI 300 China A-Shares ETF
ASHR
$1.35B
$1.09M 0.13%
40,800
– –
ADX icon
54
Adams Diversified Equity Fund
ADX
$3.17B
$1.07M 0.13%
63,677
– –
KRBN icon
55
KraneShares Global Carbon Strategy ETF
KRBN
$141M
$948K 0.11%
25,000
– –
ARGT icon
56
Global X MSCI Argentina ETF
ARGT
$842M
$854K 0.1%
18,660
– –
HTGC icon
57
Hercules Capital
HTGC
$2.94B
$740K 0.09%
50,000
– –
EWL icon
58
iShares MSCI Switzerland ETF
EWL
$2.12B
$739K 0.09%
16,000
– –
GBDC icon
59
Golub Capital BDC
GBDC
$3.33B
$675K 0.08%
50,000
– –
XLC icon
60
State Street Communication Services Select Sector SPDR ETF
XLC
$21.9B
$651K 0.08%
10,000
– –
XLF icon
61
State Street Financial Select Sector SPDR ETF
XLF
$55.6B
$642K 0.08%
19,030
– –
GDX icon
62
VanEck Gold Miners ETF
GDX
$23B
$602K 0.07%
20,000
– –
XHE icon
63
State Street SPDR S&P Health Care Equipment ETF
XHE
$147M
$566K 0.07%
5,750
– –
XSW icon
64
State Street SPDR S&P Software & Services ETF
XSW
$417M
$533K 0.06%
4,000
– –
XBI icon
65
State Street SPDR S&P Biotech ETF
XBI
$10.1B
$433K 0.05%
5,200
– –
ECH icon
66
iShares MSCI Chile ETF
ECH
$1.01B
$409K 0.05%
14,000
– –
PLD icon
67
Prologis
PLD
$138B
$402K 0.05%
3,282
-165
-5% -$20.3K
EWH icon
68
iShares MSCI Hong Kong ETF
EWH
$1.22B
$387K 0.05%
20,000
– –
PFIX icon
69
Simplify Interest Rate Hedge ETF
PFIX
$172M
$377K 0.04%
6,000
– –
CPT icon
70
Camden Property Trust
CPT
$11.3B
$372K 0.04%
3,416
-362
-10% -$39K
AMH icon
71
American Homes 4 Rent
AMH
$12B
$352K 0.04%
9,928
-4,346
-30% -$147K
VNM icon
72
VanEck Vietnam ETF
VNM
$491M
$350K 0.04%
26,320
– –
EWT icon
73
iShares MSCI Taiwan ETF
EWT
$10B
$329K 0.04%
7,000
– –
AIRC
74
DELISTED
Apartment Income REIT Corp.
AIRC
$328K 0.04%
9,094
+25
+0.3% +$891
KBND
75
DELISTED
KraneShares Bloomberg China Bond Inclusion Index ETF
KBND
$326K 0.04%
10,658
– –
1 2
3
4 5

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IWP
IAG Wealth Partners Waukesha, Wisconsin $896M AUM 15.29% 1-Year Est. Return
WIC
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FTM
First Turn Management Del Mar, California $895M AUM 261.28% 1-Year Est. Return
WP
WealthShield Partners Cary, North Carolina $898M AUM 19.35% 1-Year Est. Return
SI
Squadra Investments Rio De Janeiro, Brazil $894M AUM 33.04% 1-Year Est. Return
BFFIM
Baring Fintech Fund III Managers St Peter Port, Guernsey $893M AUM 20.23% 1-Year Est. Return
DA
Denali Advisors San Diego, California $900M AUM 28.25% 1-Year Est. Return
BWP
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Global Endowment Management's Q2 2023 Portfolio in Review

As of Q2 2023, Global Endowment Management held 104 positions worth $842M, down 10% from $939M the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Global Endowment Management withdrew a net $120M in Q2 2023, closing 19 positions and reducing 19 holdings. Its most notable exit was Vanguard Mega Cap 300 Index ETF, an estimated $44.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 0.94% of assets, down from 2.4% a quarter earlier, followed by Communication Services and Technology.

Against the trend, Global Endowment Management opened a new position in iShares MBS ETF worth $5.98M.

  • Global Endowment Management's largest Q2 2023 buy was iShares MBS ETF: 64,100 shares worth $5.98M.
  • Global Endowment Management added most to State Street Consumer Staples Select Sector SPDR ETF in Q2 2023, an estimated $8.66M increase.
  • Global Endowment Management's biggest Q2 2023 reduction was Amazon, cutting an estimated $30.9M.
  • Global Endowment Management fully exited Vanguard Mega Cap 300 Index ETF in Q2 2023, selling an estimated $44.5M.
  • Global Endowment Management's ten largest holdings make up 78% of its $842M portfolio in Q2 2023.
  • Global Endowment Management opened 1 new position and closed 19 in Q2 2023.
  • Global Endowment Management's portfolio value fell 10% quarter-over-quarter to $842M.

Based on Global Endowment Management's 13F filing for Q2 2023, filed 11 Aug 2023.