Global Endowment Management, LP

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Global Endowment Management, LP reported 128 stock positions worth $959.8 million. Its top holding was Vanguard Total Bond Market (BND) at 24.4% of the portfolio, followed by Vanguard Total Intl Stock (VXUS, 13.5%) and VG Morningstar TS MKT ETF-US (VTI, 9.2%). Compared with Q4 2023, it opened 15 new positions, sold out of 14, added to 30 and reduced 26. The biggest buy was a new position in Vanguard Tot World STK ETF (VT) and the biggest sale an exit from Vanguard S&P 500 ETF (VOO).

Most Recent 13F
Q2 2026
Location
CHARLOTTE, NC
CIK
0001512237
Portfolio Value
$959.8M (Q1 2024)
SEC Filing
0001085146-24-002436 ↗ filed May 13, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $959.8M $959.8M Q1 2024 Q2 2024: $944.9M Q2 2024 Q3 2024: $990.2M Q3 2024 Q4 2024: $781.8M Q4 2024 Q1 2025: $769.3M Q1 2025 Q2 2025: $751.2M Q2 2025 Q3 2025: $798.6M Q3 2025 Q4 2025: $801.1M Q4 2025 Q1 2026: $896.1M Q1 2026 Q2 2026: $986.5M Q2 2026

Holdings 128 stocks · $959.8M
BND Vanguard Total Bond Market 24.44% 3,229,900 $234.6M Add +6.0%
VXUS Vanguard Total Intl Stock 13.48% 2,144,826 $129.3M No change
VTI VG Morningstar TS MKT ETF-US 9.20% 339,574 $88.3M No change
BBRE JPM Betabldrs MSCI US REIT filed as J P MORGAN EXCHANGE TRADED F 6.14% 666,183 $58.9M Add +6.0%
SPY SS SPDR S&P 500 ETF Trust-US 5.65% 103,760 $54.3M No change
TXO Txo Partners LP 3.88% 2,074,864 $37.2M No change
VT Vanguard Tot World STK ETF 2.30% 200,000 $22.1M New
XLV SS Health Care Select Sector 2.05% 133,471 $19.7M No change
EWJ iShares MSCI Japan ETF 2.00% 268,600 $19.2M No change
XLP SS Consumer Staples Sel Sect 1.84% 231,509 $17.7M No change
AAPL Apple Inc. 1.67% 93,625 $16.1M No change
VWO Vanguard Ftse Emerging Marke 1.51% 347,700 $14.5M No change
VNQ Vanguard Real Estate ETF 1.48% 164,413 $14.2M No change
AGG iShares Core U.S. Aggregate 1.11% 108,700 $10.6M New
BRK.B Berkshire Hathaway Inc. Class B 1.08% 24,562 $10.3M Reduce -6.8%
IEI iShares 3-7 Year Treasury Bo 1.05% 87,160 $10.1M No change
TIP iShares Tips Bond ETF 1.00% 89,800 $9.6M Add +20.1%
SHY iShares 1-3 Year Treasury Bo 0.95% 111,250 $9.1M No change
META Meta Platforms Inc. Class A 0.93% 18,457 $9.0M Reduce -9.6%
PHYS Sprott Physical Gold Trust 0.86% 476,000 $8.2M No change
AMZN Amazon.com Inc. 0.83% 44,377 $8.0M Add +4.6%
DBC Invesco DB Commodity Index T 0.67% 279,800 $6.4M Add +89.0%
MSFT Microsoft Corp. 0.64% 14,499 $6.1M Add +10.7%
IYR iShares US Real Estate ETF 0.59% 63,000 $5.7M Add +1365.1%
MLPX Global X MLP & Energy Infras 0.56% 110,000 $5.4M No change
VWOB Vanguard Emerg MKTS Gov BND 0.51% 76,550 $4.9M Add +9.1%
EWU iShares MSCI United Kingdom 0.44% 123,000 $4.2M No change
ALLY Ally Financial Inc. 0.41% 98,001 $4.0M Add +4.6%
EIRL iShares MSCI Ireland ETF 0.39% 54,400 $3.8M No change
VEA Vanguard Ftse Developed ETF 0.38% 73,000 $3.7M No change
GLD SPDR Gold Shares 0.38% 17,600 $3.6M No change
GOOGL Alphabet Inc. Class A 0.37% 23,367 $3.5M Reduce -13.6%
TLT iShares 20+ Year Treasury BD 0.34% 33,990 $3.2M No change
XOP SS SPDR S&P Og Exp & Prod 0.32% 20,000 $3.1M Add +31.6%
WIX Wix.com Ltd. 0.30% 20,739 $2.9M New
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.30% 22,088 $2.8M New
IEF iShares 7-10 Year Treasury B 0.29% 29,260 $2.8M No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.27% 33,500 $2.6M Add +8.1%
VTIP Vanguard Short-Term Tips 0.25% 50,000 $2.4M No change
INDA iShares MSCI India ETF 0.25% 46,273 $2.4M No change
EWC iShares MSCI Canada ETF 0.24% 59,840 $2.3M No change
TLH iShares 10-20 Year Treasury 0.22% 20,210 $2.1M No change
EWZ iShares MSCI Brazil ETF 0.22% 65,000 $2.1M No change
EWA iShares MSCI Australia ETF 0.21% 82,192 $2.0M No change
CPNG Coupang Inc. 0.21% 110,667 $2.0M Add +39.9%
KWEB Kranesh Csi China Internet 0.21% 75,000 $2.0M New
APPF Appfolio Inc. Class A 0.20% 7,683 $1.9M New
EWS iShares MSCI Singapore ETF 0.19% 100,000 $1.8M No change
BKLN Invesco Senior Loan ETF 0.19% 85,000 $1.8M No change
CACC Credit Acceptance Corp. 0.18% 3,186 $1.8M Reduce -23.5%
EWW iShares MSCI Mexico ETF 0.18% 25,000 $1.7M No change
GE General Electric 0.17% 9,422 $1.7M Reduce -23.2%
GDX Vaneck Gold Miners ETF 0.16% 50,000 $1.6M Add +150.0%
EWY iShares MSCI South Korea ETF 0.16% 23,500 $1.6M No change
MELI MercadoLibre Inc. 0.16% 990 $1.5M Reduce -2.9%
TDG Transdigm Group Inc. 0.15% 1,179 $1.5M Add +7.1%
ANGL Vaneck Fallen Angel High YLD 0.15% 50,000 $1.5M No change
FCNCA First Citizens Bcshs Class A 0.15% 882 $1.4M Reduce -10.9%
BN Brookfield Corp. 0.15% 34,079 $1.4M Add +8.2%
ILF iShares Latin America 40 ETF 0.15% 50,000 $1.4M No change
USO United States Oil Fund LP 0.15% 18,000 $1.4M No change
VAW Vanguard Materials ETF 0.15% 6,900 $1.4M Reduce -54.9%
ASHR Xtrackers Harvest Csi 300 CH 0.14% 57,000 $1.4M Add +46.1%
FXI iShares China Large-Cap ETF 0.14% 57,000 $1.4M Add +39.0%
XNIEX Virtus Equity & Convertible 0.14% 60,000 $1.3M No change
ADX Adams Diversified Equity 0.14% 67,979 $1.3M No change
V Visa Inc. Class A 0.14% 4,697 $1.3M Reduce -16.8%
ESGR Enstar Group Ltd. 0.13% 4,152 $1.3M Add +43.3%
EWP iShares MSCI Spain ETF 0.13% 40,000 $1.3M No change
MCO Moody's Corp. 0.13% 3,252 $1.3M Add +142.7%
SJNK SS SPDR BB St Hi Yield ETF 0.13% 50,000 $1.3M No change
WDAY Workday Inc. Class A 0.13% 4,607 $1.3M Add +14.1%
KCCA Kraneshares California Carbo 0.12% 41,000 $1.2M No change
PPLI People Inc. filed as IAC INC 0.12% 21,768 $1.2M Add +35.5%
ARGT Global X MSCI Argentina ETF 0.10% 18,660 $1.0M No change
CCOI Cogent Communications Holdin 0.10% 15,209 $994K Add +44.8%
FTRE Fortrea Holdings Inc. 0.10% 24,381 $979K Reduce -11.7%
ACM Aecom 0.10% 9,900 $971K Add +1.4%
GDDY GoDaddy Inc. Class A 0.10% 7,923 $940K Reduce -9.9%
GEN Gen Digital Inc. 0.10% 41,751 $935K Add +2.5%
CRM Salesforce Inc. 0.10% 3,030 $913K Reduce -68.4%
EQH Equitable Holdings Inc. 0.09% 22,932 $872K Reduce -21.2%
GTX Garrett Motion Inc. 0.09% 86,362 $858K Reduce -20.6%
HUM Humana Inc. 0.09% 2,421 $839K Add +44.1%
GBDC Golub Capital BDC Inc. 0.09% 50,000 $832K No change
CRH CRH PLC 0.09% 9,467 $817K New
XLC SS Comm Select Sector SPDR 0.09% 10,000 $817K No change
XLF SS Financial Select Sector 0.08% 19,030 $802K No change
K Kellanova 0.08% 13,904 $797K Reduce -10.1%
EWL iShares MSCI Switzerland ETF 0.08% 16,000 $762K No change
RGLD Royal Gold Inc. 0.08% 6,178 $753K Add +6.2%
NEW AMERICA HIGH INCOME FUND 0.08% 100,000 $728K No change
SYRE Spyre Therapeutics Inc. 0.07% 18,184 $690K Reduce -96.5%
ULCC Frontier Group Holdings Inc. 0.07% 82,014 $665K Reduce -28.7%
SEMR Semrush Holdings Inc. Class A 0.07% 49,975 $663K New
STLA Stellantis NV 0.07% 23,359 $661K Reduce -15.3%
WBD Warner Bros Discovery Inc. 0.07% 74,593 $651K Reduce -5.0%
IBKR Interactive Brokers Gro Class A 0.07% 5,699 $637K Reduce -26.4%
XSW SS SPDR S&P Soft & Serv ETF 0.07% 4,000 $624K No change
EXPE Expedia Group Inc. 0.06% 4,447 $613K New

Show all 128 holdings

Portfolio Sells Q4 2023 → Q1 2024
VOO Vanguard S&P 500 ETF Sold out 0.00% −1.30
SYRE Spyre Therapeutics Inc. Reduce -96.5% 0.07% −1.16
AAXJ iShares MSCI All Country Asi Sold out 0.00% −1.06
CRM Salesforce Inc. Reduce -68.4% 0.10% −0.19
VAW Vanguard Materials ETF Reduce -54.9% 0.15% −0.18
KKR KKR & Co. Inc. Sold out 0.00% −0.14
PGJ Invesco Golden Dragon China Sold out 0.00% −0.10
ENVA Enova International Inc. Sold out 0.00% −0.09
OWL Blue Owl Capital Inc. Sold out 0.00% −0.09
SAVEQ Spirit Airlines Inc. Sold out 0.00% −0.07
CXM Sprinklr Inc. Class A Sold out 0.00% −0.07
EOG EOG Resources Inc. Sold out 0.00% −0.06
CACC Credit Acceptance Corp. Reduce -23.5% 0.18% −0.06
GOOGL Alphabet Inc. Class A Reduce -13.6% 0.37% −0.05
CPRT Copart Inc. Sold out 0.00% −0.05
GVI iShares Intermediate Governm Sold out 0.00% −0.05
KBND Kraneshares Bloomberg China Sold out 0.00% −0.04
WBD Warner Bros Discovery Inc. Reduce -5.0% 0.07% −0.03
GTX Garrett Motion Inc. Reduce -20.6% 0.09% −0.03
V Visa Inc. Class A Reduce -16.8% 0.14% −0.03
NEM Newmont Corp. Sold out 0.00% −0.02
MELI MercadoLibre Inc. Reduce -2.9% 0.16% −0.02
B Barrick Gold Corp. Sold out 0.00% −0.02
ZTS Zoetis Inc. Reduce -10.7% 0.04% −0.02
EQH Equitable Holdings Inc. Reduce -21.2% 0.09% −0.02
K Kellanova Reduce -10.1% 0.08% −0.01
FICO Fair Isaac Corp. Reduce -19.3% 0.05% −0.01
ANSS Ansys Inc. Reduce -7.3% 0.05% −0.01
INTU Intuit Inc. Reduce -14.3% 0.05% −0.01
FCNCA First Citizens Bcshs Class A Reduce -10.9% 0.15% −0.01
GDDY GoDaddy Inc. Class A Reduce -9.9% 0.10% −0.01
FTRE Fortrea Holdings Inc. Reduce -11.7% 0.10% −0.01
IBKR Interactive Brokers Gro Class A Reduce -26.4% 0.07% −0.01
STLA Stellantis NV Reduce -15.3% 0.07% −0.00
GE General Electric Reduce -23.2% 0.17% −0.00
ICE Intercontinental Exchange Inc. Reduce -3.5% 0.05% −0.00
ULCC Frontier Group Holdings Inc. Reduce -28.7% 0.07% −0.00
OTIS Otis Worldwide Corp. Reduce -4.8% 0.05% −0.00
BRK.B Berkshire Hathaway Inc. Class B Reduce -6.8% 1.08% +0.03
META Meta Platforms Inc. Class A Reduce -9.6% 0.93% +0.13

Portfolio Buys Q4 2023 → Q1 2024
VT Vanguard Tot World STK ETF New 2.30% +2.30
AGG iShares Core U.S. Aggregate New 1.11% +1.11
IYR iShares US Real Estate ETF Add +1365.1% 0.59% +0.55
DBC Invesco DB Commodity Index T Add +89.0% 0.67% +0.31
WIX Wix.com Ltd. New 0.30% +0.30
KSPI JSC Kaspi.kz ADR New 0.30% +0.30
KWEB Kranesh Csi China Internet New 0.21% +0.21
APPF Appfolio Inc. Class A New 0.20% +0.20
AMZN Amazon.com Inc. Add +4.6% 0.83% +0.12
TIP iShares Tips Bond ETF Add +20.1% 1.00% +0.11
GDX Vaneck Gold Miners ETF Add +150.0% 0.16% +0.10
XOP SS SPDR S&P Og Exp & Prod Add +31.6% 0.32% +0.09
MSFT Microsoft Corp. Add +10.7% 0.64% +0.09
CRH CRH PLC New 0.09% +0.09
MCO Moody's Corp. Add +142.7% 0.13% +0.07
SEMR Semrush Holdings Inc. Class A New 0.07% +0.07
EXPE Expedia Group Inc. New 0.06% +0.06
CPNG Coupang Inc. Add +39.9% 0.21% +0.06
APGE Apogee Therapeutics Inc. New 0.05% +0.05
WAT Waters Corp. New 0.05% +0.05
EL Estee Lauder Companies Class A New 0.05% +0.05
ALLY Ally Financial Inc. Add +4.6% 0.41% +0.05
ESGR Enstar Group Ltd. Add +43.3% 0.13% +0.04
PFIX Simplify Interest Rate Hedge New 0.04% +0.04
ASHR Xtrackers Harvest Csi 300 CH Add +46.1% 0.14% +0.04
FXI iShares China Large-Cap ETF Add +39.0% 0.14% +0.03
JNK SS SPDR BB High Yield Bond New 0.03% +0.03
PPLI People Inc. Add +35.5% 0.12% +0.03
TDG Transdigm Group Inc. Add +7.1% 0.15% +0.03
XLK SS Technology Select Sector New 0.02% +0.02
CCOI Cogent Communications Holdin Add +44.8% 0.10% +0.01
VWOB Vanguard Emerg MKTS Gov BND Add +9.1% 0.51% +0.01
BN Brookfield Corp. Add +8.2% 0.15% +0.01
WDAY Workday Inc. Class A Add +14.1% 0.13% +0.01
LIN Linde PLC Add +5.4% 0.06% +0.01
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Add +8.1% 0.27% +0.00
HUM Humana Inc. Add +44.1% 0.09% +0.00
ACM Aecom Add +1.4% 0.10% +0.00
XJEQX Abrdn Japan Equity Fund Inc. Add +3.6% 0.01% +0.00
RGLD Royal Gold Inc. Add +6.2% 0.08% +0.00
GEN Gen Digital Inc. Add +2.5% 0.10% −0.01
BABA Alibaba Group Holding-SP ADR Add +0.7% 0.06% −0.01
UPWK Upwork Inc. Add +10.6% 0.06% −0.01
BBRE JPM Betabldrs MSCI US REIT Add +6.0% 6.14% −0.11
BND Vanguard Total Bond Market Add +6.0% 24.44% −0.51

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 72$986.5MVT, VTI, BND, VXUS, BBRE
Q1 2026 126$896.1MVT, VXUS, BND, VTI, BBRE
Q4 2025 138$801.1MBND, VTI, VXUS, BBRE, VT
Q3 2025 128$798.6MBND, VTI, VXUS, VT, TXO
Q2 2025 128$751.2MBND, VTI, VXUS, SPY, VT
Q1 2025 142$769.3MBND, VTI, VXUS, BBRE, SPY
Q4 2024 140$781.8MBND, VTI, VXUS, BBRE, TXO
Q3 2024 131$990.2MBND, VXUS, VTI, BBRE, TXO
Q2 2024 122$944.9MBND, VXUS, VTI, BBRE, SPY
Q1 2024 128$959.8MBND, VXUS, VTI, BBRE, SPY