UBS GROUP AG

Ticker: UBS CUSIP: H42097107 Class: Com

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

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

Q2 2016

Shares 320,500 Value ($000) $4,154 Avg Close $15.28 Range $12.45 - $17.38

Q1 2016

Shares 190,500 Value ($000) $3,051 Avg Close $16.24 Range $14.01 - $19.14

Q4 2015

Shares 354,400 Value ($000) $6,865 Avg Close $19.51 Range $18.18 - $20.70

Q3 2015

Shares 354,400 Value ($000) $6,564 Avg Close $21.19 Range $17.97 - $23.19

Q2 2015

Shares 371,700 Value ($000) $7,880 Avg Close $20.89 Range $18.77 - $22.17

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2016	320,500	$4,154	$15.28	$12.45 - $17.38
Q1 2016	190,500	$3,051	$16.24	$14.01 - $19.14
Q4 2015	354,400	$6,865	$19.51	$18.18 - $20.70
Q3 2015	354,400	$6,564	$21.19	$17.97 - $23.19
Q2 2015	371,700	$7,880	$20.89	$18.77 - $22.17