Global Endowment Management, LP 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Global Endowment Management, LP disclosed 128 US equity positions worth $751.2m in its Q2 2025 13F filing. The largest position was BND at 19.9% of the reported book, followed by VTI and VXUS. Against the Q1 2025 filing, it opened 3 new positions, added to 12 and reduced 16 among the top 50 holdings.
What did Global Endowment Management, LP own in Q2 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | BND VANGUARD BD INDEX FDS | 19.9% | $149.6m | 2,031,788 | 0% | held | |
| 2 | VTI VANGUARD INDEX FDS | 13.8% | $103.6m | 340,983 | -13% | reduced | |
| 3 | VXUS VANGUARD STAR FDS | 11.5% | $86.5m | 1,252,430 | -6% | reduced | |
| 4 | SPY SPDR S&P 500 ETF TR | 7.3% | $55.2m | 89,363 | 19% | added | |
| 5 | VT VANGUARD INTL EQUITY INDEX F | 5.2% | $38.8m | 302,086 | 1% | added | |
| 6 | J P MORGAN EXCHANGE TRADED F | 4.8% | $35.9m | 389,210 | -16% | reduced | |
| 7 | TXO PARTNERS LP | 3.5% | $26.1m | 1,733,760 | -13% | reduced | |
| 8 | NVDA NVIDIA CORPORATION | Technology | 2.5% | $19.1m | 120,938 | 0% | held |
| 9 | AAPL APPLE INC | Technology | 2.1% | $15.8m | 77,012 | 0% | held |
| 10 | VWO VANGUARD INTL EQUITY INDEX F | 2.0% | $14.7m | 298,000 | 0% | held | |
| 11 | AAXJ ISHARES TR | 1.9% | $14.0m | 169,272 | -1% | reduced | |
| 12 | VOO VANGUARD INDEX FDS | 1.9% | $14.0m | 24,605 | -1% | reduced | |
| 13 | AGG ISHARES TR | 1.8% | $13.5m | 136,465 | 58% | added | |
| 14 | SPROTT PHYSICAL GOLD TR | 1.3% | $10.0m | 396,000 | 0% | held | |
| 15 | SCHX SCHWAB STRATEGIC TR | 1.2% | $9.1m | 373,488 | – | new | |
| 16 | IYR ISHARES TR | 1.2% | $8.9m | 93,880 | 36% | added | |
| 17 | XLV SELECT SECTOR SPDR TR | 1.2% | $8.8m | 65,144 | 2% | added | |
| 18 | TIP ISHARES TR | 1.0% | $7.2m | 65,197 | 4% | added | |
| 19 | EWJ ISHARES INC | 0.9% | $6.4m | 85,801 | -23% | reduced | |
| 20 | META META PLATFORMS INC | Communication Services | 0.8% | $5.9m | 8,015 | -4% | reduced |
| 21 | AMZN AMAZON COM INC | Consumer Cyclical | 0.6% | $4.6m | 21,165 | 0% | held |
| 22 | MSFT MICROSOFT CORP | Technology | 0.5% | $4.0m | 8,115 | -5% | reduced |
| 23 | BRK/B BERKSHIRE HATHAWAY INC DEL | 0.5% | $4.0m | 8,201 | -19% | reduced | |
| 24 | DJP BARCLAYS BANK PLC | 0.5% | $3.7m | 108,550 | 101% | added | |
| 25 | SPDW SPDR INDEX SHS FDS | 0.5% | $3.4m | 83,912 | -4% | reduced | |
| 26 | VNQ VANGUARD INDEX FDS | 0.5% | $3.4m | 38,000 | -9% | reduced | |
| 27 | GLD SPDR GOLD TR | 0.4% | $3.4m | 11,000 | -17% | reduced | |
| 28 | SHY ISHARES TR | 0.4% | $3.3m | 40,000 | 0% | held | |
| 29 | SPAB SPDR SERIES TRUST | 0.4% | $2.9m | 113,772 | 4% | added | |
| 30 | GDX VANECK ETF TRUST | 0.4% | $2.9m | 55,000 | 0% | held | |
| 31 | VEA VANGUARD TAX-MANAGED FDS | 0.4% | $2.7m | 48,000 | 0% | held | |
| 32 | VGIT VANGUARD SCOTTSDALE FDS | 0.4% | $2.7m | 44,700 | 0% | held | |
| 33 | VGLT VANGUARD SCOTTSDALE FDS | 0.3% | $2.6m | 46,770 | 0% | held | |
| 34 | BNDX VANGUARD CHARLOTTE FDS | 0.3% | $2.6m | 52,331 | 193% | added | |
| 35 | IEI ISHARES TR | 0.3% | $2.4m | 20,000 | 0% | held | |
| 36 | DBC INVESCO DB COMMDY INDX TRCK | 0.3% | $2.2m | 103,088 | -48% | reduced | |
| 37 | GOOGL ALPHABET INC | Communication Services | 0.3% | $2.2m | 12,446 | -3% | reduced |
| 38 | HYG ISHARES TR | 0.3% | $2.0m | 24,840 | 9% | added | |
| 39 | EWU ISHARES TR | 0.3% | $2.0m | 50,000 | 0% | held | |
| 40 | INDA ISHARES TR | 0.3% | $1.9m | 35,000 | 0% | held | |
| 41 | SPEM SPDR INDEX SHS FDS | 0.2% | $1.8m | 41,627 | -4% | reduced | |
| 42 | KWEB KRANESHARES TRUST | 0.2% | $1.7m | 50,000 | 0% | held | |
| 43 | LTPZ PIMCO ETF TR | 0.2% | $1.6m | 30,000 | – | new | |
| 44 | ANGL VANECK ETF TRUST | 0.2% | $1.5m | 50,000 | 0% | held | |
| 45 | EWG ISHARES INC | 0.2% | $1.4m | 33,500 | – | new | |
| 46 | VGK VANGUARD INTL EQUITY INDEX F | 0.2% | $1.4m | 18,000 | 0% | held | |
| 47 | EWP ISHARES INC | 0.2% | $1.3m | 30,000 | 0% | held | |
| 48 | GBDC GOLUB CAP BDC INC | 0.2% | $1.3m | 90,000 | 12% | added | |
| 49 | PDD PDD HOLDINGS INC | Consumer Cyclical | 0.2% | $1.3m | 12,337 | 206% | added |
| 50 | EWA ISHARES INC | 0.1% | $1.1m | 40,000 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.