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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
+6.58%
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
$799M
AUM Growth
+$47.4M
Cap. Flow
+$3.8M
Cap. Flow %
0.48%
Top 10 Hldgs %
67.75%
Holding
143
New
15
Increased
49
Reduced
24
Closed
15

Top Buys

Rank Stock Value
1
MSFT icon
Microsoft
MSFT
+$20.7M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$18.7M
3
TXO icon
TXO Partners LP
TXO
+$13.8M
4
IYR icon
iShares US Real Estate ETF
IYR
+$4.06M
5
CVLC icon
Calvert US Large-Cap Core Responsible Index ETF
CVLC
+$3.36M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$42.3M
2
VTI icon
Vanguard Total Stock Market ETF
VTI
+$10.7M
3
BND icon
Vanguard Total Bond Market
BND
+$6.99M
4
VXUS icon
Vanguard Total International Stock ETF
VXUS
+$5.01M
5
BBRE icon
JPMorgan BetaBuilders MSCI US REIT ETF
BBRE
+$1.05M

Sector Composition

Rank Sector Weight
1 Technology 8.87%
2 Communication Services 4.12%
3 Consumer Discretionary 1.19%
4 Financials 1.1%
5 Healthcare 0.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BND icon
1
Vanguard Total Bond Market
BND
$157B
$144M 18.04%
1,936,795
-94,993
-5% -$6.99M
VTI icon
2
Vanguard Total Stock Market ETF
VTI
$654B
$101M 12.62%
307,139
-33,844
-10% -$10.7M
VXUS icon
3
Vanguard Total International Stock ETF
VXUS
$153B
$86.8M 10.87%
1,181,872
-70,558
-6% -$5.01M
VT icon
4
Vanguard Total World Stock ETF
VT
$76.3B
$43.4M 5.43%
314,751
+12,665
+4% +$1.68M
TXO icon
5
TXO Partners LP
TXO
$726M
$37.7M 4.73%
2,686,017
+952,257
+55% +$13.8M
BBRE icon
6
JPMorgan BetaBuilders MSCI US REIT ETF
BBRE
$1.3B
$36.1M 4.52%
378,027
-11,183
-3% -$1.05M
MSFT icon
7
Microsoft
MSFT
$2.84T
$25.2M 3.15%
48,638
+40,523
+499% +$20.7M
GOOGL icon
8
Alphabet (Google) Class A
GOOGL
$3.91T
$24.8M 3.1%
101,959
+89,513
+719% +$18.7M
NVDA icon
9
NVIDIA
NVDA
$5.01T
$22.6M 2.83%
120,938
– –
AAPL icon
10
Apple
AAPL
$4.89T
$19.6M 2.46%
77,012
– –
VWO icon
11
Vanguard FTSE Emerging Markets ETF
VWO
$119B
$16.1M 2.02%
298,000
– –
SPY icon
12
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$15.5M 1.95%
23,327
-66,036
-74% -$42.3M
VOO icon
13
Vanguard S&P 500 ETF
VOO
$968B
$15.1M 1.89%
24,684
+79
+0.3% +$46.6K
AAXJ icon
14
iShares MSCI All Country Asia ex Japan ETF
AAXJ
$3.65B
$15.1M 1.89%
165,578
-3,694
-2% -$319K
AGG icon
15
iShares Core US Aggregate Bond ETF
AGG
$138B
$14.1M 1.77%
140,915
+4,450
+3% +$442K
IYR icon
16
iShares US Real Estate ETF
IYR
$4.59B
$13.2M 1.65%
136,080
+42,200
+45% +$4.06M
PHYS icon
17
Sprott Physical Gold
PHYS
$14.6B
$11.7M 1.47%
396,000
– –
SCHX icon
18
Schwab US Large- Cap ETF
SCHX
$70.9B
$9.88M 1.24%
375,122
+1,634
+0.4% +$41.5K
XLV icon
19
State Street Health Care Select Sector SPDR ETF
XLV
$42.1B
$8.81M 1.1%
63,294
-1,850
-3% -$250K
TIP icon
20
iShares TIPS Bond ETF
TIP
$14.5B
$8.27M 1.04%
74,381
+9,184
+14% +$1.01M
EWJ icon
21
iShares MSCI Japan ETF
EWJ
$21.7B
$6.87M 0.86%
85,674
-127
-0.1% -$9.82K
META icon
22
Meta Platforms (Facebook)
META
$1.51T
$5.65M 0.71%
7,697
-318
-4% -$237K
DJP icon
23
iPath Bloomberg Commodity Index Total Return ETN due 12 June 2036
DJP
$819M
$4.94M 0.62%
139,332
+30,782
+28% +$1.06M
AMZN icon
24
Amazon
AMZN
$2.5T
$4.91M 0.61%
22,362
+1,197
+6% +$271K
GDX icon
25
VanEck Gold Miners ETF
GDX
$23B
$4.2M 0.53%
55,000
– –
1
2 3 4 5

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FTM
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BFFIM
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Global Endowment Management's Q3 2025 Portfolio in Review

As of Q3 2025, Global Endowment Management held 143 positions worth $799M, up 6.3% from $751M the previous quarter. Its ten largest holdings account for 68% of the portfolio.

Global Endowment Management's Q3 2025 filing shows 15 new, 49 increased, 24 reduced and 15 closed positions. Its largest new stake was Calvert US Large-Cap Core Responsible Index ETF: 42,446 shares worth $3.48M. The largest sale was State Street SPDR S&P 500 ETF Trust, an estimated $42.3M.

By sector, the portfolio is most concentrated in Technology at 8.9% of assets, up from 5.6% a quarter earlier, followed by Communication Services and Consumer Discretionary.

  • Global Endowment Management's largest Q3 2025 buy was Calvert US Large-Cap Core Responsible Index ETF: 42,446 shares worth $3.48M.
  • Global Endowment Management added most to Microsoft in Q3 2025, an estimated $20.7M increase.
  • Global Endowment Management's biggest Q3 2025 reduction was State Street SPDR S&P 500 ETF Trust, cutting an estimated $42.3M.
  • Global Endowment Management fully exited PIMCO Municipal Income Fund in Q3 2025, selling an estimated $479K.
  • Global Endowment Management's ten largest holdings make up 68% of its $799M portfolio in Q3 2025.
  • Global Endowment Management opened 15 new positions and closed 15 in Q3 2025.
  • Global Endowment Management's portfolio value rose 6.3% quarter-over-quarter to $799M.

Based on Global Endowment Management's 13F filing for Q3 2025, filed 13 Nov 2025.