1y return+15.2%S&P 500 +20.9%
3y return+36.8%S&P 500 +68.5%
5y return+12.9%S&P 500 +74.5%
10y return+128.5%S&P 500 +256.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since June 30, 2016: $228 against $357 in the S&P 500.2
Global Endowment Management, LPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| VTVanguard Intl Equity Index F | $209.0M | 21.2% | +30.7% |
| VTIVanguard Index Fds | $117.4M | 11.9% | −5.1% |
| BNDVanguard Bd Index Fds | $107.4M | 10.9% | −1.9% |
| VXUSVanguard Star Fds | $104.1M | 10.5% | −15.4% |
| BBREJ P Morgan Exchange Traded F | $45.8M | 4.6% | −2.1% |
| AGGIshares Tr | $35.9M | 3.6% | +8.3% |
| GOOGLAlphabet Inc | $35.8M | 3.6% | |
| NVDANvidia Corporation | $24.9M | 2.5% | |
| AAPLApple Inc | $21.6M | 2.2% | −5.6% |
| IYRIshares Tr | $20.9M | 2.1% | |
| MSFTMicrosoft Corp | $18.4M | 1.9% | −1.7% |
| AAXJIshares Tr | $17.9M | 1.8% | −5.0% |
| VOOVanguard Index Fds | $17.9M | 1.8% | +3.1% |
| VWOVanguard Intl Equity Index F | $17.8M | 1.8% | |
| DARDarling Ingredients Inc | $14.3M | 1.4% | +2698.6% |
| SCHXSchwab Strategic Tr | $13.7M | 1.4% | +20.1% |
| TIPIshares Tr | $12.0M | 1.2% | +9.4% |
| PHYSSprott Asset Management LP | $11.9M | 1.2% | |
| DJPBarclays Bank PLC | $11.1M | 1.1% | +28.2% |
| EWJIshares Inc | $10.9M | 1.1% | −5.2% |
| TPBTurning Pt Brands Inc | $10.8M | 1.1% | New |
| EWYIshares Inc | $10.3M | 1.0% | +1173.1% |
| VTGVanguard Malvern Fds | $10.0M | 1.0% | New |
| CVLCMorgan Stanley Etf Trust | $7.2M | 0.7% | +23.8% |
| SPDWSpdr Index Shs Fds | $6.0M | 0.6% | +13.8% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| GOOGLAlphabet Inc | June 30, 2020 | +404.0% | $35.8M |
| EWYIshares Inc | March 31, 2025 | +273.6% | $10.3M |
| FLKRFranklin Templeton Etf Tr | March 31, 2025 | +260.3% | $2.2M |
| VTIVanguard Index Fds | June 30, 2020 | +136.4% | $117.4M |
| PHYSSprott Asset Management LP | June 30, 2020 | +110.8% | $11.9M |
| GDXVaneck Etf Trust | June 30, 2020 | +105.7% | $3.0M |
| VEAVanguard Tax-managed Fds | June 30, 2020 | +83.7% | $2.1M |
| MSFTMicrosoft Corp | September 30, 2020 | +77.4% | $18.4M |
| DARDarling Ingredients Inc | September 30, 2025 | +76.9% | $14.3M |
| VXUSVanguard Star Fds | June 30, 2020 | +73.9% | $104.1M |
Sold off last quarter
- XLVSelect Sector Spdr Tr was $9.0M
- TXOTxo Partners LP was $4.2M
- BRK/BBerkshire Hathaway Inc Del was $3.8M
- BNDXVanguard Charlotte Fds was $2.9M
- IEIIshares Tr was $2.4M
- EWGIshares Inc was $1.3M
- XLISelect Sector Spdr Tr was $1.1M
- EIRLIshares Tr was $1.0M
- RSPInvesco Exchange Traded Fd T was $960K
- CROXCrocs Inc was $906K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +9.5% | +14.8% |
| March 31, 2026 | −1.3% | −4.6% |
| December 31, 2025 | +0.8% | +2.4% |
| September 30, 2025 | +5.7% | +7.8% |
| June 30, 2025 | +5.3% | +10.5% |
| March 31, 2025 | +0.4% | −4.6% |
| December 31, 2024 | −2.4% | +2.1% |
| September 30, 2024 | +6.0% | +5.4% |
| June 30, 2024 | +1.0% | +4.0% |
| March 31, 2024 | +4.4% | +10.0% |
| December 31, 2023 | +7.3% | +11.2% |
| September 30, 2023 | −4.0% | −3.6% |
| June 30, 2023 | +3.7% | +8.3% |
| March 31, 2023 | +6.2% | +7.0% |
| December 31, 2022 | +0.7% | +7.1% |
| September 30, 2022 | −5.8% | −5.3% |
| June 30, 2022 | −18.4% | −16.5% |
| March 31, 2022 | −8.1% | −4.9% |
| December 31, 2021 | +6.5% | +10.7% |
| September 30, 2021 | −1.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Global Endowment Management, LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1512237&type=13F-HR&dateb=&owner=include&count=40CIK 1512237
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1512237/000151223726000004/Filed August 14, 2026 · accession 0001512237-26-000004