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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
-3.88%
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
$934M
AUM Growth
+$92.4M
Cap. Flow
+$132M
Cap. Flow %
14.17%
Top 10 Hldgs %
72.58%
Holding
127
New
42
Increased
17
Reduced
14
Closed
9

Top Buys

Rank Stock Value
1
TXO icon
TXO Partners LP
TXO
+$65.2M
2
BBRE icon
JPMorgan BetaBuilders MSCI US REIT ETF
BBRE
+$9.7M
3
SHY icon
iShares 1-3 Year Treasury Bond ETF
SHY
+$9.01M
4
AAPL icon
Apple
AAPL
+$8.67M
5
IEI icon
iShares 3-7 Year Treasury Bond ETF
IEI
+$6.68M

Top Sells

Rank Stock Value
1
RPV icon
Invesco S&P 500 Pure Value ETF
RPV
+$8.32M
2
BND icon
Vanguard Total Bond Market
BND
+$7.57M
3
MBB icon
iShares MBS ETF
MBB
+$5.98M
4
IEF icon
iShares 7-10 Year Treasury Bond ETF
IEF
+$4.3M
5
TLT icon
iShares 20+ Year Treasury Bond ETF
TLT
+$3.94M

Sector Composition

Rank Sector Weight
1 Financials 2.8%
2 Technology 1.95%
3 Communication Services 1.81%
4 Consumer Discretionary 1.17%
5 Industrials 0.42%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XBI icon
101
State Street SPDR S&P Biotech ETF
XBI
$10.3B
$380K 0.04%
5,200
– –
ECH icon
102
iShares MSCI Chile ETF
ECH
$1B
$367K 0.04%
14,000
– –
VNM icon
103
VanEck Vietnam ETF
VNM
$470M
$356K 0.04%
26,320
– –
PLD icon
104
Prologis
PLD
$137B
$343K 0.04%
3,059
-223
-7% -$27.3K
EWH icon
105
iShares MSCI Hong Kong ETF
EWH
$1.23B
$343K 0.04%
20,000
– –
DOC icon
106
Healthpeak Properties
DOC
$15.4B
$338K 0.04%
18,404
+2,806
+18% +$57.6K
KBND
107
DELISTED
KraneShares Bloomberg China Bond Inclusion Index ETF
KBND
$323K 0.03%
10,658
– –
EWT icon
108
iShares MSCI Taiwan ETF
EWT
$9.93B
$312K 0.03%
7,000
– –
GVI icon
109
iShares Intermediate Government/Credit Bond ETF
GVI
$3.77B
$308K 0.03%
3,043
-25
-0.8% -$2.56K
EWI icon
110
iShares MSCI Italy ETF
EWI
$997M
$304K 0.03%
10,000
-35,970
-78% -$1.15M
FR icon
111
First Industrial Realty Trust
FR
$8.86B
$295K 0.03%
+6,194
New +$319K
CPT icon
112
Camden Property Trust
CPT
$11.2B
$292K 0.03%
3,087
-329
-10% -$35K
DOC
113
DELISTED
PHYSICIANS REALTY TRUST
DOC
$235K 0.03%
19,248
+1,052
+6% +$14.5K
EIDO icon
114
iShares MSCI Indonesia ETF
EIDO
$469M
$232K 0.02%
10,400
– –
B
115
Barrick Mining
B
$62.3B
$159K 0.02%
10,920
– –
BXMX
116
DELISTED
Nuveen S&P 500 Buy-Write Income Fund
BXMX
$127K 0.01%
10,000
– –
JEQ
117
DELISTED
abrdn Japan Equity Fund
JEQ
$115K 0.01%
21,511
+423
+2% +$2.43K
JQC icon
118
Nuveen Credit Strategies Income Fund
JQC
$702M
$101K 0.01%
20,000
– –
AMH icon
119
American Homes 4 Rent
AMH
$12.1B
– –
-9,928
Closed -$352K
EWG icon
120
iShares MSCI Germany ETF
EWG
$1.55B
– –
-63,220
Closed -$1.81M
FEZ icon
121
State Street SPDR EURO STOXX 50 ETF
FEZ
$4.31B
– –
-5,000
Closed -$230K
HTGC icon
122
Hercules Capital
HTGC
$2.98B
– –
-50,000
Closed -$740K
MBB icon
123
iShares MBS ETF
MBB
$39.1B
– –
-64,100
Closed -$5.98M
NEM icon
124
Newmont
NEM
$98.4B
– –
-4,858
Closed -$207K
PFIX icon
125
Simplify Interest Rate Hedge ETF
PFIX
$169M
– –
-6,000
Closed -$377K
2 3 4
5
6

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IWP
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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
BlueStem Wealth Partners Minnetonka, Minnesota $900M AUM 15.24% 1-Year Est. Return

Global Endowment Management's Q3 2023 Portfolio in Review

As of Q3 2023, Global Endowment Management held 127 positions worth $934M, up 11% from $842M the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Global Endowment Management deployed $132M of net new capital in Q3 2023, opening 42 new positions and adding to 17 existing holdings. Its largest new stake was TXO Partners LP: 3,043,232 shares worth $61.8M.

By sector, the portfolio is most concentrated in Financials at 2.8% of assets, up from 0.94% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Vanguard Total Bond Market, an estimated $7.57M trimmed.

  • Global Endowment Management's largest Q3 2023 buy was TXO Partners LP: 3,043,232 shares worth $61.8M.
  • Global Endowment Management added most to JPMorgan BetaBuilders MSCI US REIT ETF in Q3 2023, an estimated $9.7M increase.
  • Global Endowment Management's biggest Q3 2023 reduction was Vanguard Total Bond Market, cutting an estimated $7.57M.
  • Global Endowment Management fully exited Invesco S&P 500 Pure Value ETF in Q3 2023, selling an estimated $8.32M.
  • Global Endowment Management's ten largest holdings make up 73% of its $934M portfolio in Q3 2023.
  • Global Endowment Management opened 42 new positions and closed 9 in Q3 2023.
  • Global Endowment Management's portfolio value rose 11% quarter-over-quarter to $934M.

Based on Global Endowment Management's 13F filing for Q3 2023, filed 13 Nov 2023.