Endowment PMF Master Fund NPORTP the Endowment PMF Master Fund, L.P. (Dec 2023 report)

THE ENDOWMENT PMF MASTER FUND, L.P.

(A Limited Partnership)

Schedule of Investments

December 31, 2023

(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 (1.02% of Partners’ Capital)
Sentient Global Resources Fund III, L.P.	2009			$	9,758,274	$	1,013,398
Sentient Global Resources Fund IV, L.P. ⁽²⁾	2011				8,579,690		1,230,147
Private Equity (17.73% of Partners’ Capital)
ABRY Advanced Securities Fund, L.P.	2008				-		23,958
Gavea Investment Fund II A, L.P.	2007				-		39,829
Gavea Investment Fund III A, L.P.	2008				-		177,221
India Asset Recovery Fund L.P.	2006				-		1,180
J.C. Flowers III L.P. ⁽²⁾	2009				6,870,830		857,264
New Horizon Capital III, L.P.	2008				-		95,181
Northstar Equity Partners III ⁽²⁾	2011				2,924,413		1,492,954
Orchid Asia IV, L.P. ⁽²⁾	2007				4,777,774		107,975
Reservoir Capital Partners (Cayman), L.P. ⁽²⁾	2006				118,622		354,766
Tiger Global Private Investment Partners V, L.P. ⁽²⁾	2008				6,571,472		3,921,010
Tiger Global Private Investment Partners VI, L.P. ⁽²⁾	2010				-		2,160,240
Trustbridge Partners II, L.P. ⁽²⁾	2007				4,794,738		2,884,044
Trustbridge Partners III, L.P. ⁽²⁾⁽³⁾	2008				17,688,343		11,055,382
Trustbridge Partners IV, L.P.⁽²⁾	2011				3,403		15,910,898
Real Estate (1.78% of Partners’ Capital)
Forum European Realty Income III, L.P.	2007		��		4,466,262		251,962
Phoenix Asia Real Estate Investments II, L.P.	2006				3,650,617		3,678,697

Total Cayman Islands					70,204,438		45,256,106

United Kingdom
Private Equity (0.04% of Partners’ Capital)
Darwin Private Equity I L.P.	2007				6,816,923		98,750
Real Estate (0.09% of Partners’ Capital)
Benson Elliot Real Estate Partners II, L.P.	2006				1,975,313		35,129
Patron Capital, L.P. II	2005				674,771		2,122
Patron Capital, L.P. III	2007				3,254,500		164,553

Total United Kingdom					12,721,507		300,554

United States
Energy (13.29% of Partners’ Capital)
Energy & Minerals Group Fund II, L.P. ⁽²⁾	2011				11,423,305		13,484,039
Intervale Capital Fund, L.P. ⁽²⁾	2007				2,305,488		-
Merit Energy Partners G, L.P. ⁽²⁾	2008				15,309,024		7,379,107
Midstream & Resources Follow-On Fund, L.P. ⁽³⁾	2009				3,459,071		2,418,559
NGP Energy Technology Partners II, L.P. ⁽²⁾	2008				3,355,864		2,945,586
NGP IX Offshore Fund, L.P. ⁽²⁾	2007				4,181,800		80,523
NGP Midstream & Resources, L.P.	2007				5,412,496		574,901
Quantum Parallel Partners V, LP ⁽³⁾	2008				15,291,693		2,300,550
TPF II-A, L.P. ⁽³⁾	2008				6,612,057		98,634
Event-Driven (2.41% of Partners’ Capital)
BDCM Partners I, L.P. ⁽²⁾⁽⁶⁾	2019				7,437,015		5,295,441
Fortelus Special Situations Fund Ltd. ⁽⁶⁾	2019				-		11,169
Private Equity (50.80% of Partners’ Capital)
Advent Latin American Private Equity Fund IV-F L.P.	2007				1,095,662		530,020
Advent Latin American Private Equity Fund V-F L.P.	2010				6,023,757		2,724,321
BDCM Opportunity Fund II, L.P.	2006				2,734,372		582,223
Catterton Growth Partners, L.P. ⁽²⁾	2007				9,034,358		-
Chrysalis Ventures III, L.P.	2006				1,136,664		408,219
Crosslink Crossover Fund V, L.P.	2007				1,723,592		700,656
Crosslink Crossover Fund VI, L.P.	2011				-		13,029,003
Dace Ventures I, LP ⁽³⁾	2007				1,894,196		750,163
Fairhaven Capital Partners, L.P.	2007				8,481,555		1,544,304
Founders Fund III, LP	2010				-		23,280,777
Founders Fund IV, LP	2012				-		30,744,649
Garrison Opportunity Fund II A LLC	2010				-		7,936
HealthCor Partners Fund, L.P. ⁽³⁾	2007				1,594,814		2,347,561
MatlinPatterson Global Opportunities Partners III L.P.	2007				4,685,977		-
Middle East North Africa Opportunities Fund, L.P. ⁽⁶⁾	2019	3,969			3,969,272		36,724
Monomoy Capital Partners II, L.P.	2011				5,221,973		942,282
Pine Brook Capital Partners, L.P.	2007				9,523,957		1,262,858
Pinto America Growth Fund, L.P.	2005				-		38,330
Private Equity Investment Fund IV, L.P. ⁽³⁾	2005				3,221,616		420,833
Private Equity Investment Fund V, L.P. ⁽³⁾	2009				32,635,067		16,964,660
Saints Capital VI, L.P. ⁽³⁾	2008				9,042,256		1,572,962
Sanderling Venture Partners VI Co-Investment Fund, L.P.	2004				1,146,840		316,719
Sanderling Venture Partners VI, L.P.	2004				517,676		74,629
Sterling Capital Partners II, L.P.	2005				1,039,496		57,217
Strategic Value Global Opportunities Fund I-A, L.P. ⁽³⁾	2006				157,773		711,037
Tenaya Capital V, LP	2007				286,205		447,583
Tenaya Capital VI, LP	2012				4,142,490		4,875,407
The Column Group, LP	2007				-		4,087,718
Trivest Fund IV, L.P.⁽³⁾	2007				14,000		-
Tuckerbrook SB Global Distressed Fund I, L.P. ⁽³⁾	2006				434,042		1,561,792
Valiant Capital Partners LP ⁽⁶⁾	2019				1,998,043		1,724,413
Voyager Capital Fund III, L.P.	2006				1,532,853		224,880
Real Estate (7.21% of Partners’ Capital)
GTIS Brazil Real Estate Fund (Brazilian Real) LP ⁽³⁾	2008				6,582,606		3,438,424
Lone Star Real Estate Fund II (U.S.), L.P.	2009				-		9,268
Monsoon Infrastructure & Realty Co-Invest, L.P. ⁽³⁾	2008				6,167,911		3,677,847
Northwood Real Estate Co-Investors LP ⁽²⁾	2007				1,878,208		2,164,595
Northwood Real Estate Partners LP ⁽²⁾	2007				6,010,827		6,453,822
SBC US Fund II, LP ⁽³⁾	2011				4,302,697		151,081
Relative Value (0.25% of Partners’ Capital)
King Street Capital, L.P. ⁽²⁾⁽⁶⁾	2019				10,016		231,331
Magnetar Capital Fund LP ⁽⁶⁾	2020				-		256,763
PIPE Equity Partners, LLC ^(4)(5)(6)	2003				17,723,154		-
PIPE Select Fund, LLC ^(4)(5)(6)	2009				15,623,045		-
Stark Select Asset Fund, LLC ⁽⁶⁾	2018				-		57,048

Total United States					246,374,783		162,998,564

Total Limited Partnerships, Exempted Limited Partnerships and Limited Liability Companies					329,300,728		208,555,224	94.62	%

Total Investments in Investment Funds⁽⁷⁾					329,300,728		208,555,224	94.62	%

Total Investments				$	329,300,728	$	208,555,224	94.62	%

The Master Fund’s total outstanding capital commitments to Investment Funds as of December 31, 2023 were $31,356,607. 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, 2023. 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, 2023 was $46,760,545 and $7,612,889, respectively.

(7)	Restricted investments as to resale.

Endowment PMF Master Fund NPORT-Pthe Endowment PMF Master Fund, L.P. (Dec 2023 report)