Endowment PMF Master Fund NPORT-P the Endowment PMF Master Fund, L.P. (Dec 2022 report)

THE ENDOWMENT PMF MASTER FUND, L.P.

(A Limited Partnership)

Schedule of Investments

December 31, 2022

(Unaudited)

	Initial Investment Date (1)	Shares	Cost		Fair Value		% of Partners’ Capital
Investments in Investment Funds
Limited Partnerships, Exempted Limited Partnerships and Limited Liability Companies
Cayman Islands
Energy (2.34% of Partners’ Capital)
Sentient Global Resources Fund III, L.P.	July, 2008		$	12,387,341	$	3,575,541
Sentient Global Resources Fund IV, L.P. (2)	June, 2011			9,916,684		2,953,790
Private Equity (17.39% of Partners’ Capital)
ABRY Advanced Securities Fund, L.P.	August, 2008			-		42,681
CX Partners Fund Ltd. (2)(3)	April, 2009			10,512,844		289,000
Gavea Investment Fund II A, L.P.	May, 2007			-		42,350
Gavea Investment Fund III A, L.P.	September, 2008			-		191,507
India Asset Recovery Fund L.P.	October, 2006			-		1,765
J.C. Flowers III L.P.	October, 2009			6,985,611		1,086,381
LC Fund IV, L.P.	May, 2008			7,493,581		347,374
New Horizon Capital III, L.P. (2)	March, 2009			3,526,056		-
Northstar Equity Partners III (2)	June, 2011			3,011,449		1,862,550
Orchid Asia IV, L.P. (2)	November, 2007			4,834,761		1,328,608
Reservoir Capital Partners (Cayman), L.P. (2)	June, 2009			1,602,522		3,379,981
Tiger Global Private Investment Partners V, L.P.	January, 2008			6,176,631		5,855,418
Tiger Global Private Investment Partners VI, L.P.	November, 2010			-		2,712,772
Trustbridge Partners II, L.P. (2)	December, 2007			4,990,945		3,684,509
Trustbridge Partners III, L.P. (3)	April, 2009			17,692,549		11,494,102
Trustbridge Partners IV, L.P.(2)	September, 2011			-		16,141,786
Real Estate (1.29% of Partners’ Capital)
Forum European Realty Income III, L.P.	February, 2008			4,466,262		339,378
Phoenix Asia Real Estate Investments II, L.P. (3)	September, 2007			3,650,617		3,262,165
Total Cayman Islands				97,247,853		58,591,658
Guernsey
Private Equity (0.00% of Partners’ Capital)
Mid Europa Fund III LP	November, 2007			3,749,029		7,433
Total Guernsey				3,749,029		7,433
United Kingdom
Private Equity (0.04% of Partners’ Capital)
Darwin Private Equity I L.P.	September, 2007			6,816,923		118,621
Real Estate (0.08% of Partners’ Capital)
Benson Elliot Real Estate Partners II, L.P.	August, 2006			1,975,313		26,083
Patron Capital, L.P. II	February, 2005			674,772		10,033
Patron Capital, L.P. III	July, 2007			3,254,500		187,692
Total United Kingdom				12,721,508		342,429
United States
Energy (17.37% of Partners’ Capital)
EnCap Energy Capital Fund VII-B LP (2)	October, 2007			7,469,808		-
EnCap Energy Infrastructure TE Feeder, L.P. (2)(3)	October, 2009			5,535,027		373,859
Energy & Minerals Group Fund II, L.P. (2)	November, 2011			11,275,863		13,486,560
Intervale Capital Fund, L.P.	May, 2008			2,305,488		177,383
Merit Energy Partners G, L.P. (2)	September, 2009			15,973,266		7,809,283
Midstream & Resources Follow-On Fund, L.P. (2)(3)	March, 2010			3,459,071		3,145,216
NGP Energy Technology Partners II, L.P. (2)	July, 2009			4,017,505		1,832,474
NGP IX Offshore Fund, L.P.	March, 2008			4,181,522		193,482
NGP Midstream & Resources, L.P.	October, 2007			5,412,496		644,419
Quantum Parallel Partners V, LP (3)	October, 2008			20,217,115		20,621,465

TPF II-A, L.P.  (3)	October, 2008			6,612,057		102,507
Event-Driven (1.91% of Partners’ Capital)
BDCM Partners I, L.P. (3)(6)	January, 2011			7,437,015		5,312,593
Fortelus Special Situations Fund Ltd. (6)	May, 2010			-		9,944
Private Equity (48.83% of Partners’ Capital)
Advent Latin American Private Equity Fund IV-F L.P.	August, 2007			1,095,662		572,271
Advent Latin American Private Equity Fund V-F L.P.	May, 2010			7,188,081		5,878,990
BDCM Opportunity Fund II, L.P. (2)	March, 2006			2,732,651		589,988
Catterton Growth Partners, L.P.	March, 2008			10,514,354		3,243,200
Chrysalis Ventures III, L.P.	December, 2006			1,136,664		522,111
Crosslink Crossover Fund V, L.P.	May, 2007			1,723,592		547,133
Crosslink Crossover Fund VI, L.P.	March, 2007			-		17,941,158
Dace Ventures I, LP (3)	June, 2007			1,894,196		813,594
Fairhaven Capital Partners, L.P.	March, 2008			8,481,555		1,899,724
Founders Fund III, LP	May, 2010			-		24,165,620
Founders Fund IV, LP	January, 2012			-		32,361,525
Garrison Opportunity Fund LLC  (3)	February, 2010			-		56,282
Garrison Opportunity Fund II A LLC	March, 2011			-		58,786
HealthCor Partners Fund, L.P. (3)	August, 2007			1,583,797		2,608,164
MatlinPatterson Global Opportunities Partners III L.P.	July, 2007			4,715,825		29,561
Middle East North Africa Opportunities Fund, L.P. (6)	July, 2008	3,969		3,969,272		21,806
Monomoy Capital Partners II, L.P.	May, 2011			5,137,020		3,438,749
Pine Brook Capital Partners, L.P. (2)	January, 2008			9,532,892		1,435,872
Pinto America Growth Fund, L.P.	July, 2006			-		104,377
Private Equity Investment Fund IV, L.P. (3)	July, 2005			3,221,616		390,293
Private Equity Investment Fund V, L.P. (3)	April, 2009			32,635,067		17,486,119
Saints Capital VI, L.P. (3)	April, 2008			9,042,256		2,257,009
Sanderling Venture Partners VI Co-Investment Fund, L.P.	June, 2005			1,146,840		491,573
Sanderling Venture Partners VI, L.P.	June, 2005			517,676		380,019
Sterling Capital Partners II, L.P. (2)	August, 2005			1,039,496		60,093
Sterling Group Partners III, L.P. (2)	April, 2010			3,242,169		8
Strategic Value Global Opportunities Fund I-A, L.P.	December, 2006			157,773		792,694
Tenaya Capital V, LP (2)	November, 2007			286,205		465,935
Tenaya Capital VI, LP	July, 2012			4,516,706		5,527,807
The Column Group, LP	September, 2007			-		7,976,959
Trivest Fund IV, L.P.(3)	November, 2007			66,650		39,316
Tuckerbrook SB Global Distressed Fund I, L.P. (3)	July, 2007			434,042		1,612,002
Valiant Capital Partners LP (6)	July, 2009			2,690,540		1,862,474
Voyager Capital Fund III, L.P.	May, 2007			1,532,853		410,799
Real Estate (7.37% of Partners’ Capital)
GTIS Brazil Real Estate Fund (Brazilian Real) LP (3)	July, 2008			6,635,634		3,464,074
Lone Star Real Estate Fund II (U.S.), L.P.	June, 2011			-		21,871
Monsoon Infrastructure & Realty Co-Invest, L.P. (3)	February, 2008			9,542,106		6,555,898
Northwood Real Estate Co-Investors LP (2)	April, 2008			1,818,939		2,573,154
Northwood Real Estate Partners LP (2)	April, 2008			6,302,730		7,554,022
SBC US Fund II, LP (3)	June, 2011			4,302,697		325,600
Relative Value (0.18% of Partners’ Capital)
King Street Capital, L.P. (2)(6)	November, 2009			14,723		198,060
Magnetar Capital Fund LP (3)(6)	February, 2009			-		246,893
PIPE Equity Partners, LLC (4)(5)(6)	August, 2008			17,723,154		-
PIPE Select Fund, LLC (4)(5)(6)	September, 2008			15,623,045		-
Stark Select Asset Fund, LLC (6)	July, 2010			-		60,794
Total United States				276,094,711		210,751,562
Total Limited Partnerships, Exempted Limited Partnerships and Limited Liability Companies				389,813,101		269,693,082	96.80	%
Total Investments in Investment Funds(7)				389,813,101		269,693,082	96.80	%
Total Investments			$	389,813,101	$	269,693,082	96.80	%

The Master Fund’s total outstanding capital commitments to Investment Funds as of December 31, 2022 were $39,674,369. For certain Investment Funds for which the Master Fund has a capital commitment, the Master Fund may be allocated its pro-rata share of expenses prior to having to fund a capital call for such expenses.

All investments are non-income producing unless noted otherwise.

(1) All Investment Funds were received in an in-kind transfer of a portfolio of Investment Funds on March 31, 2014.

(2) Income producing investment.

(3) Affiliated investments for which ownership exceeds 5% of the Investment Fund's capital.

(4) Affiliated investments for which ownership exceeds 25% of the Investment Fund’s capital.

(5) Investment was valued in good faith pursuant to procedures approved by the Board of Directors as of December 31, 2022. The total of all such investments represents 0.00% of partners’ capital.

(6) Investment Funds classified as "Hedge Funds" in the Master Fund's limited partnership agreement. The cost and fair value of these Investment Funds as of December 31, 2022 was $47,457,749 and $7,712,564, respectively.

(7) Restricted investments as to resale.