ANHEUSER BUSCH INBEV SA/NV

Ticker: BUD CUSIP: 03524A108 Class: SPONSORED ADR

Global Endowment Management, LP's Holding History (CIK: 0001512237)

Note: Option positions (PUT/CALL) are excluded.

Q2 2015

Shares 14,990 Value ($000) $1,809 Avg Close — Range —

Q1 2015

Shares 14,990 Value ($000) $1,828 Avg Close — Range —

Q4 2014

Shares 14,260 Value ($000) $1,602 Avg Close — Range —

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2015	14,990	$1,809	—	—
Q1 2015	14,990	$1,828	—	—
Q4 2014	14,260	$1,602	—	—