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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
-7.38%
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
$674M
AUM Growth
-$45.8M
Cap. Flow
+$21.8M
Cap. Flow %
3.23%
Top 10 Hldgs %
38.62%
Holding
276
New
35
Increased
59
Reduced
45
Closed
58

Top Buys

Rank Stock Value
1
BRK.B icon
Berkshire Hathaway Class B
BRK.B
+$41.3M
2
Z icon
Zillow
Z
+$15.2M
3
WES
Western Gas Partners Lp
WES
+$3.19M
4
FR icon
First Industrial Realty Trust
FR
+$3.08M
5
VTR icon
Ventas
VTR
+$3.04M

Top Sells

Rank Stock Value
1
YDKN
Yadkin Financial Corporation
YDKN
+$15.2M
2
ZG icon
Zillow
ZG
+$14.6M
3
VMEM
VIOLIN MEMORY, INC.
VMEM
+$5.75M
4
WPZ
Williams Partners L.P.
WPZ
+$3.88M
5
INFA
INFORMATICA CORP
INFA
+$3.24M

Sector Composition

Rank Sector Weight
1 Financials 20.61%
2 Consumer Discretionary 13.29%
3 Real Estate 11.92%
4 Communication Services 8.73%
5 Energy 7.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NQU
151
DELISTED
NUVEEN QUALITY INCOME MUNI FD
NQU
$539K 0.08%
39,950
-80,000
-67% -$1.08M
VKQ icon
152
Invesco Municipal Trust
VKQ
$536M
$534K 0.08%
43,470
-117,400
-73% -$1.42M
DSL
153
DoubleLine Income Solutions Fund
DSL
$1.21B
$519K 0.08%
30,000
– –
EWW icon
154
iShares MSCI Mexico ETF
EWW
$1.89B
$516K 0.08%
10,000
– –
INDA icon
155
iShares MSCI India ETF
INDA
$6.65B
$514K 0.08%
18,000
-12,000
-40% -$352K
AZO icon
156
AutoZone
AZO
$48.3B
$492K 0.07%
680
– –
IVR icon
157
Invesco Mortgage Capital
IVR
$776M
$490K 0.07%
4,000
+1,270
+47% +$177K
JHP
158
DELISTED
NUVEEN QUALITY PREFERRED INCOME FUND 3
JHP
$481K 0.07%
60,000
– –
AAPL icon
159
Apple
AAPL
$4.89T
$471K 0.07%
17,080
– –
AGNC icon
160
AGNC Investment
AGNC
$12.3B
$468K 0.07%
+25,000
New +$480K
SLRC icon
161
SLR Investment Corp
SLRC
$706M
$430K 0.06%
27,200
– –
EWI icon
162
iShares MSCI Italy ETF
EWI
$911M
$427K 0.06%
14,895
– –
BCX icon
163
BlackRock Resources & Commodities Strategy Trust
BCX
$899M
$418K 0.06%
58,880
– –
EXG icon
164
Eaton Vance Tax-Managed Global Diversified Equity Income Fund
EXG
$2.91B
$415K 0.06%
50,000
– –
EDD
165
Morgan Stanley Emerging Markets Domestic Debt Fund
EDD
$372M
$413K 0.06%
60,000
– –
HRL icon
166
Hormel Foods
HRL
$13.9B
$413K 0.06%
13,040
+1,340
+11% +$40.2K
MO icon
167
Altria Group
MO
$122B
$412K 0.06%
7,570
+290
+4% +$15.6K
LMT icon
168
Lockheed Martin
LMT
$134B
$400K 0.06%
+1,930
New +$393K
JQC icon
169
Nuveen Credit Strategies Income Fund
JQC
$702M
$399K 0.06%
50,000
– –
NXZ
170
DELISTED
NUVEEN DIV ADV MUNI FD-2
NXZ
$391K 0.06%
28,700
-155,700
-84% -$2.1M
ACN icon
171
Accenture
ACN
$89.9B
$389K 0.06%
3,960
– –
HD icon
172
Home Depot
HD
$332B
$385K 0.06%
+3,330
New +$385K
CCP
173
DELISTED
Care Capital Properties, Inc.
CCP
$382K 0.06%
+11,593
New +$375K
UTF icon
174
Cohen & Steers Infrastructure Fund
UTF
$3.14B
$381K 0.06%
20,000
– –
FSL
175
DELISTED
FREESCALE SEMICONDUCTOR LTD
FSL
$372K 0.06%
+10,180
New +$381K
5 6
7
8 9

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WIC
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FTM
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WealthShield Partners Cary, North Carolina $898M AUM 19.35% 1-Year Est. Return
SI
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BFFIM
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DA
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BWP
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Global Endowment Management's Q3 2015 Portfolio in Review

As of Q3 2015, Global Endowment Management held 276 positions worth $674M, down 6.4% from $720M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Global Endowment Management deployed $21.8M of net new capital in Q3 2015, opening 35 new positions and adding to 59 existing holdings. Its largest new stake was Zillow: 584,213 shares worth $15.8M.

By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 18% a quarter earlier, followed by Consumer Discretionary and Real Estate.

On the sell side, the largest reduction was Zillow, an estimated $14.6M trimmed.

  • Global Endowment Management's largest Q3 2015 buy was Zillow: 584,213 shares worth $15.8M.
  • Global Endowment Management added most to Berkshire Hathaway Class B in Q3 2015, an estimated $41.3M increase.
  • Global Endowment Management's biggest Q3 2015 reduction was Zillow, cutting an estimated $14.6M.
  • Global Endowment Management fully exited Yadkin Financial Corporation in Q3 2015, selling an estimated $15.2M.
  • Global Endowment Management's ten largest holdings make up 39% of its $674M portfolio in Q3 2015.
  • Global Endowment Management opened 35 new positions and closed 58 in Q3 2015.
  • Global Endowment Management's portfolio value fell 6.4% quarter-over-quarter to $674M.

Based on Global Endowment Management's 13F filing for Q3 2015, filed 9 Nov 2015.