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Portfolio (Quarterly) Guide ↗

Global Endowment Management, LP

· CIK 0001512237
13F Portfolio $896M AUM 126 positions Filed May 14, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 7 New 45 Added 26 Reduced 19 Exited
Page 2 of 7  ·  126 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 XLV SELECT SECTOR SPDR TR 61,592.0 $9.0M 1.01% $146.61 +0.4%
22 CVLC MORGAN STANLEY ETF TRUST 61,692.0 $4.9M 0.55% +20K +46.5% $80.06 +14.8%
23 SPDW SPDR INDEX SHS FDS 105,046.0 $4.8M 0.54% +15K +17.1% $45.66 +9.5%
24 GDX VANECK ETF TRUST 50,000.0 $4.6M 0.51% $91.78 -5.9%
25 SPAB SPDR SERIES TRUST 170,255.0 $4.4M 0.49% +22K +14.6% $25.62 -1.2%
26 TXO PARTNERS LP 333,822.0 $4.2M 0.47% -1.5M -82.1% $12.58
27 BERKSHIRE HATHAWAY INC DEL 7,925.0 $3.8M 0.42% $479.24
28 JNK SPDR SERIES TRUST 35,550.0 $3.4M 0.38% $95.72 +0.4%
29 SHY ISHARES TR 40,000.0 $3.3M 0.37% $82.58 -0.5%
30 EAGG ISHARES TR 68,254.0 $3.2M 0.36% +19K +37.4% $47.54 -1.1%
31 VEA VANGUARD TAX-MANAGED FDS 48,000.0 $3.1M 0.34% $64.08 +9.5%
32 BNDX VANGUARD CHARLOTTE FDS 60,287.0 $2.9M 0.32% +4K +6.2% $48.05 -0.3%
33 VNQ VANGUARD INDEX FDS 31,900.0 $2.8M 0.32% -6K -16.1% $88.71 +8.8%
34 DBC INVESCO DB COMMDY INDX TRCK Financial Services 92,547.0 $2.7M 0.30% +5K +5.3% $28.95 +6.7%
35 AMZN AMAZON COM INC Consumer Cyclical 12,650.0 $2.6M 0.29% +172.0 +1.4% $208.22 +27.3%
36 IEI ISHARES TR 20,000.0 $2.4M 0.27% $118.60 -1.2%
37 EWU ISHARES TR 50,000.0 $2.3M 0.25% $45.56 +3.3%
38 KWEB KRANESHARES TRUST 77,000.0 $2.2M 0.24% $28.43 -1.1%
39 HYG ISHARES TR 26,715.0 $2.1M 0.24% $79.54 +0.4%
40 SPEM SPDR INDEX SHS FDS 44,805.0 $2.1M 0.23% +4K +8.7% $46.91 +8.9%
Page 2 of 7  ·  126 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 40.7%
Financial Services 31.6%
Communication Services 20.2%
Consumer Cyclical 3.6%
Healthcare 1.7%
Basic Materials 1.0%
Consumer Defensive 0.5%
Industrials 0.2%
Real Estate 0.2%
Utilities 0.2%