AUTOMATIC DATA PROCESSING IN

Ticker: ADP CUSIP: 053015103 Class: COM

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

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

Q3 2021

Shares 42,914 Value ($000) $8,580 Avg Close $187.71 Range $179.33 - $197.68

Q2 2021

Shares 51,009 Value ($000) $10,131 Avg Close $176.27 Range $167.48 - $182.39

Q4 2020

Shares 1,690 Value ($000) $298 Avg Close $147.45 Range $121.14 - $161.77

Q3 2020

Shares 31,440 Value ($000) $4,385 Avg Close $125.00 Range $114.15 - $135.97

Period	Shares	Value ($000)	Average Close	Price Range
Q3 2021	42,914	$8,580	$187.71	$179.33 - $197.68
Q2 2021	51,009	$10,131	$176.27	$167.48 - $182.39
Q4 2020	1,690	$298	$147.45	$121.14 - $161.77
Q3 2020	31,440	$4,385	$125.00	$114.15 - $135.97