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Livermore
Livermore
ZHEN

Global Endowment Management, LP

SEC CIK
0001512237
Latest filing
Aug 14, 2026

Holdings in Q2 2025

Holdings as of Jun 30, 2025, filed Aug 13, 2025. Long positions only; changes compare share counts with Q1 2025.

Institution overview
Positions
128
−14 vs. Q1 2025
Portfolio value
$751.2M
−$18.1M (−2.3%) vs. Q1 2025
Filed
Aug 13, 2025
SEC
Holdings of Global Endowment Management, LP in Q2 2025
SecurityClassSharesValue% of portfolioShare changeActionHistory
UPWKUpwork, IncCOM14,334$192.6K<0.1%−5,500−27.7%ReducedHistory
ULCCFrontier Group Holdings, Inc.COM54,707$198.6K<0.1%+3,079+6.0%AddedHistory
Kraneshares Tr500767553CALIFORNIA CARB13,389$207.8K<0.1%−1,611−10.7%Reduced–
Simplify Exchange Traded Fun82889N855SIMPLIFY INTERST4,000$211.4K<0.1%−2,000−33.3%Reduced–
BABAAlibaba Group Holding LtdADR1,909$216.5K<0.1%−168−8.1%ReducedHistory
FICOFair Isaac CorpCOM119$217.5K<0.1%−3−2.5%ReducedHistory
STLAStellantis N.V.SHS21,702$217.7K<0.1%−531−2.4%ReducedHistory
iShares Inc464286509MSCI CDA ETF5,000$231.0K<0.1%00.0%Unchanged–
IBKRInteractive Brokers Group, Inc.Stock4,276$236.9K<0.1%−1,872−30.4%ReducedConverted for a 4-for-1 splitHistory
MRSHMarsh & McLennan Companies, Inc.Stock1,095$239.4K<0.1%+109+11.1%AddedHistory
ALLYAlly Financial Inc.Stock6,342$247.0K<0.1%−1,022−13.9%ReducedHistory
WATWaters CorpCOM712$248.5K<0.1%+79+12.5%AddedHistory
ICEIntercontinental Exchange, Inc.Stock1,426$261.6K<0.1%+98+7.4%AddedHistory
CCOICogent Communications Holdings, Inc.COM NEW5,523$266.3K<0.1%−410−6.9%ReducedHistory
SYRESpyre Therapeutics, Inc.COM NEW18,184$272.2K<0.1%00.0%UnchangedHistory
DBX ETF Tr233051879XTRACK HRVST CSI10,000$275.4K<0.1%−10,000−50.0%Reduced–
KVUEKenvue Inc.Stock13,491$282.4K<0.1%+3,392+33.6%AddedHistory
Global X Uranium ETF37954Y871ETF7,920$307.4K<0.1%−35,342−81.7%Reduced–
INTUIntuit Inc.Stock393$309.5K<0.1%+16+4.2%AddedHistory
LRNStride, Inc.COM2,132$309.5K<0.1%−1,844−46.4%ReducedHistory
ESGREnstar Group LTDSHS928$312.1K<0.1%−214−18.7%ReducedHistory
State Street SPDR Portfolio Long Term Corporate Bond ETF78464A367ETF13,903$313.8K<0.1%+824+6.3%Added–
KSPIJoint Stock Co Kaspi.kzSPONSORED ADS3,792$321.9K<0.1%−1,459−27.8%ReducedHistory
MTCHMatch Group, Inc.COM10,526$325.1K<0.1%+3,066+41.1%AddedHistory
PPLIPeople IncCOM NEW8,757$327.0K<0.1%+1,086+14.2%AddedHistory
BDXBecton Dickinson & CoStock1,910$329.0K<0.1%+1,910NewHistory
NWSANews CorpCL A11,167$331.9K<0.1%−2,638−19.1%ReducedHistory
HRHealthcare Realty Trust IncCL A COM21,178$335.9K<0.1%+7,100+50.4%AddedHistory
APGEApogee Therapeutics, Inc.COM7,797$338.6K<0.1%00.0%UnchangedHistory
SPDR Series Trust78468R556SP O&G EXPL PRO2,700$339.7K<0.1%−1,300−32.5%Reduced–
ALITAlight, Inc. / DelawareCOM CL A60,750$343.8K<0.1%+23,063+61.2%AddedHistory
OSCROscar Health, Inc.CL A16,214$347.6K<0.1%−3,215−16.5%ReducedHistory
ADSKAutodesk, Inc.COM1,139$352.6K<0.1%+285+33.4%AddedHistory
PCGPG&E CorpStock25,506$355.6K<0.1%+25,506NewHistory
GENGen Digital Inc.Stock12,376$363.9K<0.1%+3,942+46.7%AddedHistory
HTGCHercules Capital, Inc.COM20,000$365.6K<0.1%00.0%UnchangedHistory
ENVAEnova International, Inc.COM3,307$368.8K<0.1%−405−10.9%ReducedHistory
CRHCRH Public Ltd CoORD4,094$375.8K0.1%−1,032−20.1%ReducedHistory
QRVOQorvo, Inc.Stock4,510$382.9K0.1%+4,510NewHistory
FAFirst Advantage CorpCOM23,107$383.8K0.1%+23,107NewHistory
RGLDRoyal Gold IncStock2,244$399.1K0.1%+2,244NewHistory
FOURShift4 Payments, Inc.CL A4,147$411.0K0.1%−1,683−28.9%ReducedHistory
iShares Tr46434V4070-5YR HI YL CP9,637$415.7K0.1%+362+3.9%Added–
iShares Inc464286749MSCI SWITZERLAND8,000$438.5K0.1%00.0%Unchanged–
iShares Inc464286772MSCI STH KOR ETF6,110$438.6K0.1%00.0%Unchanged–
iShares Inc464286640MSCI CHILE ETF14,000$440.3K0.1%+14,000New–
MMDNYLI MacKay DefinedTerm Muni Opportunities FundCOM30,000$443.7K0.1%+30,000NewHistory
IBITiShares Bitcoin Trust ETFETF7,363$450.7K0.1%+363+5.2%AddedHistory
CCKCrown Holdings, Inc.COM4,439$457.1K0.1%+573+14.8%AddedHistory
iShares Inc46434G772MSCI TAIWAN ETF8,000$459.2K0.1%00.0%Unchanged–
Ea Series Trust02072L672STRIVE US SEMICO9,000$478.2K0.1%−1,000−10.0%Reduced–
PMFPIMCO Municipal Income FundCOM60,000$478.8K0.1%+60,000NewHistory
iShares Inc46434G830MSCI ITALY ETF10,000$481.4K0.1%00.0%Unchanged–
SPDR Series Trust78468R622ST BLOO HIGH ETF5,000$486.4K0.1%−10,096−66.9%Reduced–
COFCapital One Financial CorpStock2,312$491.9K0.1%+2,312NewHistory
State Street SPDR S&P Software & Services ETF78464A599ETF2,600$493.5K0.1%−1,400−35.0%Reduced–
APPFAppfolio IncCOM CL A2,194$505.2K0.1%00.0%UnchangedHistory
FERGFerguson Enterprises Inc.COMMON STOCK NEW2,333$508.0K0.1%−730−23.8%ReducedHistory
State Street SPDR Portfolio Intermediate Term Corporate Bond ETF78464A375ETF15,463$519.2K0.1%+395+2.6%Added–
Gmo ETF Trust90139K100US QUALITY ETF16,000$548.2K0.1%00.0%Unchanged–
Wix.com Ltd.92940WAD1NOTE 8/13,500$554.6K0.1%+3,500New–
iShares Tr464288612INTRM GOV CR ETF5,334$569.6K0.1%+455+9.3%Added–
WBDWarner Bros. Discovery, Inc.Stock51,561$590.9K0.1%+20,873+68.0%AddedHistory
CACCCredit Acceptance CorpCOM1,179$600.6K0.1%00.0%UnchangedHistory
MELIMercadolibre IncCOM231$603.7K0.1%00.0%UnchangedHistory
VEEVVeeva Systems IncStock2,101$605.0K0.1%00.0%UnchangedHistory
CPNGCoupang, Inc.CL A21,600$647.1K0.1%00.0%UnchangedHistory
LPXLouisiana-Pacific CorpCOM7,967$685.1K0.1%00.0%UnchangedHistory
Franklin Templeton ETF Tr35473P710FTSE SOUTH KOREA29,000$708.8K0.1%+10,700+58.5%Added–
State Street Technology Select Sector SPDR ETF81369Y803ETF3,000$759.7K0.1%−1,000−25.0%Reduced–
VVisa Inc.Stock2,166$769.0K0.1%+232+12.0%AddedHistory
Schwab U.S. Large-Cap Growth ETF808524300ETF27,260$796.3K0.1%+27,260New–
MCOMoodys CorpStock1,625$815.1K0.1%+228+16.3%AddedHistory
State Street Communication Services Select Sector SPDR ETF81369Y852ETF8,000$868.2K0.1%−2,000−20.0%Reduced–
CVNACarvana Co.CL A2,736$921.9K0.1%00.0%UnchangedHistory
GEGeneral Electric CoStock3,615$930.5K0.1%+473+15.1%AddedHistory
Global X FDS37950E259GB MSCI AR ETF12,000$1.02M0.1%00.0%Unchanged–
iShares Inc46434G780MSCI SINGPOR ETF40,000$1.04M0.1%00.0%Unchanged–
iShares Inc464286103MSCI AUST ETF40,000$1.05M0.1%00.0%Unchanged–
PDDPDD Holdings Inc.SPONSORED ADS12,337$1.29M0.2%+8,302+205.7%AddedHistory
GBDCGolub Capital BDC, Inc.COM90,000$1.32M0.2%+10,000+12.5%AddedHistory
iShares Inc464286764MSCI SPAIN ETF30,000$1.32M0.2%00.0%Unchanged–
Vanguard Intl Equity Index F922042874FTSE EUROPE ETF18,000$1.40M0.2%00.0%Unchanged–
iShares Inc464286806MSCI GERMANY ETF33,500$1.42M0.2%+33,500New–
VanEck ETF Trust92189F437FALLEN ANGEL HG50,000$1.46M0.2%00.0%Unchanged–
PIMCO ETF Tr72201R30415+ YR US TIPS30,000$1.57M0.2%+30,000New–
Kraneshares Trust500767306CSI CHI INTERNET50,000$1.72M0.2%00.0%Unchanged–
SPDR Index Shs FDS78463X509ST PORT MARK ETF41,627$1.78M0.2%−1,953−4.5%Reduced–
iShares MSCI India ETF46429B598ETF35,000$1.95M0.3%00.0%Unchanged–
iShares Tr46435G334MSCI UK ETF NEW50,000$1.99M0.3%00.0%Unchanged–
iShares Tr464288513IBOXX HI YD ETF24,840$2.00M0.3%+2,087+9.2%Added–
GOOGLAlphabet Inc.Stock12,446$2.19M0.3%−338−2.6%ReducedHistory
DBCInvesco DB Commodity Index Tracking FundUNIT103,088$2.25M0.3%−93,648−47.6%ReducedHistory
iShares Tr4642886613 7 YR TREAS BD20,000$2.38M0.3%00.0%Unchanged–
Vanguard Total International Bond ETF92203J407ETF52,331$2.59M0.3%+34,470+193.0%Added–
Vanguard Long-Term Treasury ETF92206C847ETF46,770$2.62M0.3%00.0%Unchanged–
Vanguard Scottsdale FDS92206C706INTER TERM TREAS44,700$2.67M0.4%00.0%Unchanged–
Vanguard Ftse Developed Markets ETF921943858ETF48,000$2.74M0.4%00.0%Unchanged–
VanEck ETF Trust92189F106GOLD MINERS ETF55,000$2.86M0.4%00.0%Unchanged–
State Street SPDR Portfolio Aggregate Bond ETF78464A649ETF113,772$2.91M0.4%+4,093+3.7%Added–

Sold out since Q1 2025 (28)

Positions held at the end of Q1 2025 that are gone from this filing.

Positions of Global Endowment Management, LP sold out since Q1 2025
SecurityClassShares in Q1 2025Value in Q1 2025% of portfolio in Q1 2025History
Morgan Stanley ETF Trust61774R205CALVERT US LARCP177,349$12.2M1.6%–
State Street Consumer Staples Select Sector SPDR ETF81369Y308ETF103,674$8.47M1.1%–
State Street SPDR Portfolio S&P 500 ETF78464A854ETF123,634$8.13M1.1%–
iShares Esg Aware US Aggregate Bond ETF46435U549ETF169,079$8.03M1.0%–
Global X FDS37954Y293GLB X MLP ENRG I39,000$2.49M0.3%–
Invesco QQQ Trust Series I46090E103ETF3,481$1.63M0.2%–
ADXAdams Diversified Equity Fund, Inc.COM77,652$1.47M0.2%History
BTCGrayscale Bitcoin Mini Trust ETFETF39,593$1.44M0.2%History
NIEVirtus Equity & Convertible Income FundCOM60,000$1.33M0.2%History
State Street Financial Select Sector SPDR ETF81369Y605ETF19,030$947.9K0.1%–
iShares Tr46429B507MSCI IRELAND ETF15,000$886.8K0.1%–
WIXWix.com Ltd.SHS4,846$791.7K0.1%History
Vanguard Materials ETF92204A801ETF3,000$566.4K0.1%–
FTREFortrea Holdings Inc.COMMON STOCK65,245$492.6K0.1%History
SPGIS&P Global Inc.Stock844$428.8K0.1%History
iShares Tr46436E866IBONDS 25 TRM TS17,270$403.6K0.1%–
BNBROOKFIELD CorpCL A LTD VT SH6,850$359.0K<0.1%History
DFSDiscover Financial ServicesCOM1,986$339.0K<0.1%History
HUMHumana IncStock1,231$325.7K<0.1%History
GTXGarrett Motion Inc.Stock38,247$320.1K<0.1%History
Despegar Com CorpG27358103ORD SHS14,412$270.8K<0.1%–
ZTSZoetis Inc.Stock1,446$238.1K<0.1%History
PFEPfizer IncStock9,130$231.4K<0.1%History
NWSNews CorpCL B7,554$229.4K<0.1%History
GDDYGoDaddy Inc.CL A1,267$228.2K<0.1%History
CRMSalesforce, Inc.Stock808$216.8K<0.1%History
iShares Ibonds Dec 2026 Term Corporate ETF46435GAA0ETF8,310$201.2K<0.1%–
BXMXNuveen S&P 500 BuyWrite Income FundCOM10,000$131.2K<0.1%History