Global Endowment Management, LP

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Global Endowment Management, LP reported 122 stock positions worth $944.9 million. Its top holding was Vanguard Total Bond Market (BND) at 23.8% of the portfolio, followed by Vanguard Total Intl Stock (VXUS, 12.1%) and VG Morningstar TS MKT ETF-US (VTI, 9.6%). Compared with Q1 2024, it opened 12 new positions, sold out of 18, added to 25 and reduced 46. The biggest buy was a new position in Nvidia (NVDA) and the biggest sale Vanguard Total Intl Stock (VXUS, shares −12%).

Most Recent 13F
Q2 2026
Location
CHARLOTTE, NC
CIK
0001512237
Portfolio Value
$944.9M (Q2 2024)
SEC Filing
0001085146-24-003740 ↗ filed Aug 13, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $959.8M Q1 2024 Q2 2024: $944.9M $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 122 stocks · $944.9M
BND Vanguard Total Bond Market 23.84% 3,126,820 $225.3M Reduce -3.2%
VXUS Vanguard Total Intl Stock 12.10% 1,895,626 $114.3M Reduce -11.6%
VTI VG Morningstar TS MKT ETF-US 9.61% 339,574 $90.8M No change
BBRE JPM Betabldrs MSCI US REIT filed as J P MORGAN EXCHANGE TRADED F 6.20% 667,338 $58.5M Add +0.2%
SPY SS SPDR S&P 500 ETF Trust-US 5.98% 103,760 $56.5M No change
TXO Txo Partners LP 4.24% 1,985,130 $40.0M Reduce -4.3%
VT Vanguard Tot World STK ETF 2.68% 225,020 $25.3M Add +12.5%
AAPL Apple Inc. 2.09% 93,625 $19.7M No change
NVDA Nvidia Corp. 1.72% 131,720 $16.3M New
VWO Vanguard Ftse Emerging Marke 1.52% 328,000 $14.4M Reduce -5.7%
VNQ Vanguard Real Estate ETF 1.46% 164,413 $13.8M No change
AAXJ iShares MSCI All Country Asi 1.27% 166,356 $12.0M New
VOO Vanguard S&P 500 ETF 1.26% 23,862 $11.9M New
XLV SS Health Care Select Sector 1.19% 77,171 $11.2M Reduce -42.2%
EWJ iShares MSCI Japan ETF 1.11% 153,475 $10.5M Reduce -42.9%
BRK.B Berkshire Hathaway Inc. Class B 1.06% 24,562 $10.0M No change
AGG iShares Core U.S. Aggregate 1.06% 102,700 $10.0M Reduce -5.5%
XLP SS Consumer Staples Sel Sect 1.01% 125,035 $9.6M Reduce -46.0%
SHY iShares 1-3 Year Treasury Bo 0.96% 111,250 $9.1M No change
PHYS Sprott Physical Gold Trust 0.91% 476,000 $8.6M No change
META Meta Platforms Inc. Class A 0.89% 16,769 $8.5M Reduce -9.2%
KRBN KS Global Carbon Stratgy ETF 0.89% 258,300 $8.4M Add +1622.0%
TIP iShares Tips Bond ETF 0.88% 77,680 $8.3M Reduce -13.5%
AMZN Amazon.com Inc. 0.83% 40,432 $7.8M Reduce -8.9%
IEI iShares 3-7 Year Treasury Bo 0.72% 59,000 $6.8M Reduce -32.3%
MSFT Microsoft Corp. 0.67% 14,211 $6.4M Reduce -2.0%
DBC Invesco DB Commodity Index T 0.62% 253,020 $5.9M Reduce -9.6%
MLPX Global X MLP & Energy Infras 0.59% 110,000 $5.6M No change
IYR iShares US Real Estate ETF 0.56% 60,850 $5.3M Reduce -3.4%
GOOGL Alphabet Inc. Class A 0.43% 22,528 $4.1M Reduce -3.6%
VWOB Vanguard Emerg MKTS Gov BND 0.42% 63,350 $4.0M Reduce -17.2%
ALLY Ally Financial Inc. 0.41% 98,067 $3.9M Add +0.1%
GLD SPDR Gold Shares 0.40% 17,600 $3.8M No change
EIRL iShares MSCI Ireland ETF 0.37% 54,400 $3.5M No change
EWU iShares MSCI United Kingdom 0.37% 100,000 $3.5M Reduce -18.7%
VEA Vanguard Ftse Developed ETF 0.26% 50,000 $2.5M Reduce -31.5%
TLT iShares 20+ Year Treasury BD 0.25% 26,000 $2.4M Reduce -23.5%
HYG Ishr Ibx Usd Hiyld CB ETF-Ui 0.25% 30,590 $2.4M Reduce -8.7%
INDA iShares MSCI India ETF 0.24% 40,000 $2.2M Reduce -13.6%
XOP SS SPDR S&P Og Exp & Prod 0.23% 15,000 $2.2M Reduce -25.0%
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC 0.22% 16,212 $2.1M Reduce -26.6%
TLH iShares 10-20 Year Treasury 0.22% 20,210 $2.1M No change
CVNA Carvana Co. 0.20% 14,734 $1.9M New
APPF Appfolio Inc. Class A 0.20% 7,683 $1.9M No change
KWEB Kranesh Csi China Internet 0.20% 69,200 $1.9M Reduce -7.7%
GDX Vaneck Gold Miners ETF 0.20% 55,000 $1.9M Add +10.0%
BKLN Invesco Senior Loan ETF 0.19% 85,000 $1.8M No change
CACC Credit Acceptance Corp. 0.19% 3,470 $1.8M Add +8.9%
EWA iShares MSCI Australia ETF 0.18% 69,997 $1.7M Reduce -14.8%
MELI MercadoLibre Inc. 0.17% 990 $1.6M No change
MCO Moody's Corp. 0.17% 3,727 $1.6M Add +14.6%
EWS iShares MSCI Singapore ETF 0.16% 80,000 $1.5M Reduce -20.0%
EWC iShares MSCI Canada ETF 0.16% 40,000 $1.5M Reduce -33.2%
ADX Adams Diversified Equity 0.15% 67,979 $1.5M No change
FCNCA First Citizens Bcshs Class A 0.15% 859 $1.4M Reduce -2.6%
ANGL Vaneck Fallen Angel High YLD 0.15% 50,000 $1.4M No change
XNIEX Virtus Equity & Convertible 0.15% 60,000 $1.4M No change
V Visa Inc. Class A 0.15% 5,299 $1.4M Add +12.8%
VTIP Vanguard Short-Term Tips 0.14% 28,200 $1.4M Reduce -43.6%
GE General Electric filed as GE AEROSPACE 0.14% 8,602 $1.4M Reduce -8.7%
EWZ iShares MSCI Brazil ETF 0.14% 50,000 $1.4M Reduce -23.1%
VAW Vanguard Materials ETF 0.14% 6,900 $1.3M No change
USO United States Oil Fund LP 0.13% 16,000 $1.3M Reduce -11.1%
ESGR Enstar Group Ltd. 0.13% 4,152 $1.3M No change
WDAY Workday Inc. Class A 0.13% 5,669 $1.3M Add +23.1%
EWP iShares MSCI Spain ETF 0.13% 40,000 $1.2M No change
SJNK SS SPDR BB St Hi Yield ETF 0.13% 50,000 $1.2M No change
CPNG Coupang Inc. 0.13% 57,949 $1.2M Reduce -47.6%
SEMR Semrush Holdings Inc. Class A 0.13% 88,298 $1.2M Add +76.7%
EWW iShares MSCI Mexico ETF 0.12% 20,000 $1.1M Reduce -20.0%
ARGT Global X MSCI Argentina ETF 0.11% 18,660 $1.1M No change
PPLI People Inc. filed as IAC INC 0.11% 21,768 $1.0M No change
EWY iShares MSCI South Korea ETF 0.10% 15,000 $991K Reduce -36.2%
FXI iShares China Large-Cap ETF 0.10% 36,850 $958K Reduce -35.4%
KCCA Kraneshares California Carbo 0.10% 41,000 $919K No change
FTRE Fortrea Holdings Inc. 0.10% 39,326 $918K Add +61.3%
WIX Wix.com Ltd. 0.10% 5,763 $917K Reduce -72.2%
GEN Gen Digital Inc. 0.09% 35,105 $877K Reduce -15.9%
ASHR Xtrackers Harvest Csi 300 CH 0.09% 36,500 $860K Reduce -36.0%
CCOI Cogent Communications Holdin 0.09% 15,209 $858K No change
XLC SS Comm Select Sector SPDR 0.09% 10,000 $857K No change
HUM Humana Inc. 0.09% 2,166 $809K Reduce -10.5%
RGLD Royal Gold Inc. 0.08% 6,352 $795K Add +2.8%
GBDC Golub Capital BDC Inc. 0.08% 50,000 $786K No change
XLF SS Financial Select Sector 0.08% 19,030 $782K No change
EWL iShares MSCI Switzerland ETF 0.08% 16,000 $771K No change
DFS Discover Financial Services 0.08% 5,884 $770K New
EQH Equitable Holdings Inc. 0.08% 18,835 $770K Reduce -17.9%
IBKR Interactive Brokers Gro Class A 0.08% 6,180 $758K Add +8.4%
GDDY GoDaddy Inc. Class A 0.08% 5,388 $753K Reduce -32.0%
NEW AMERICA HIGH INCOME FUND 0.08% 100,000 $733K No change
CRH CRH PLC 0.08% 9,585 $719K Add +1.3%
K Kellanova 0.07% 12,285 $709K Reduce -11.6%
UPWK Upwork Inc. 0.07% 64,178 $690K Add +39.5%
GTX Garrett Motion Inc. 0.07% 78,884 $678K Reduce -8.7%
FICO Fair Isaac Corp. 0.07% 454 $676K Add +20.4%
DESP Despegar.com Corp. 0.07% 51,025 $675K New
STLA Stellantis NV 0.07% 33,881 $673K Add +45.0%
CRM Salesforce Inc. 0.07% 2,509 $645K Reduce -17.2%
ULCC Frontier Group Holdings Inc. 0.07% 128,897 $635K Add +57.2%

Show all 122 holdings

Portfolio Sells Q1 2024 → Q2 2024
VXUS Vanguard Total Intl Stock Reduce -11.6% 12.10% −1.38
EWJ iShares MSCI Japan ETF Reduce -42.9% 1.11% −0.89
XLV SS Health Care Select Sector Reduce -42.2% 1.19% −0.86
XLP SS Consumer Staples Sel Sect Reduce -46.0% 1.01% −0.83
BND Vanguard Total Bond Market Reduce -3.2% 23.84% −0.60
IEI iShares 3-7 Year Treasury Bo Reduce -32.3% 0.72% −0.33
IEF iShares 7-10 Year Treasury B Sold out 0.00% −0.29
WIX Wix.com Ltd. Reduce -72.2% 0.10% −0.20
TDG Transdigm Group Inc. Sold out 0.00% −0.15
BN Brookfield Corp. Sold out 0.00% −0.15
ILF iShares Latin America 40 ETF Sold out 0.00% −0.15
TIP iShares Tips Bond ETF Reduce -13.5% 0.88% −0.13
VEA Vanguard Ftse Developed ETF Reduce -31.5% 0.26% −0.12
VTIP Vanguard Short-Term Tips Reduce -43.6% 0.14% −0.10
ACM Aecom Sold out 0.00% −0.10
XOP SS SPDR S&P Og Exp & Prod Reduce -25.0% 0.23% −0.09
VWOB Vanguard Emerg MKTS Gov BND Reduce -17.2% 0.42% −0.09
TLT iShares 20+ Year Treasury BD Reduce -23.5% 0.25% −0.08
EWC iShares MSCI Canada ETF Reduce -33.2% 0.16% −0.08
CPNG Coupang Inc. Reduce -47.6% 0.13% −0.08
EWZ iShares MSCI Brazil ETF Reduce -23.1% 0.14% −0.07
KSPI JSC Kaspi.kz ADR Reduce -26.6% 0.22% −0.07
EWU iShares MSCI United Kingdom Reduce -18.7% 0.37% −0.07
WBD Warner Bros Discovery Inc. Sold out 0.00% −0.07
EXPE Expedia Group Inc. Sold out 0.00% −0.06
EWW iShares MSCI Mexico ETF Reduce -20.0% 0.12% −0.06
EWY iShares MSCI South Korea ETF Reduce -36.2% 0.10% −0.06
LIN Linde PLC Sold out 0.00% −0.06
AGG iShares Core U.S. Aggregate Reduce -5.5% 1.06% −0.05
OTIS Otis Worldwide Corp. Sold out 0.00% −0.05
XHE SS SPDR S&P HC Equip ETF Sold out 0.00% −0.05
ASHR Xtrackers Harvest Csi 300 CH Reduce -36.0% 0.09% −0.05
XBI SS SPDR S&P Biotech ETF Sold out 0.00% −0.05
ANSS Ansys Inc. Sold out 0.00% −0.05
DBC Invesco DB Commodity Index T Reduce -9.6% 0.62% −0.05
FXI iShares China Large-Cap ETF Reduce -35.4% 0.10% −0.04
META Meta Platforms Inc. Class A Reduce -9.2% 0.89% −0.04
VNM Vaneck Vietnam ETF Sold out 0.00% −0.04
EWH iShares MSCI Hong Kong ETF Sold out 0.00% −0.03
EWA iShares MSCI Australia ETF Reduce -14.8% 0.18% −0.03
JNK SS SPDR BB High Yield Bond Sold out 0.00% −0.03
EWS iShares MSCI Singapore ETF Reduce -20.0% 0.16% −0.03
GE General Electric Reduce -8.7% 0.14% −0.03
CRM Salesforce Inc. Reduce -17.2% 0.07% −0.03
IYR iShares US Real Estate ETF Reduce -3.4% 0.56% −0.03
EIDO iShares MSCI Indonesia ETF Sold out 0.00% −0.02
HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -8.7% 0.25% −0.02
GDDY GoDaddy Inc. Class A Reduce -32.0% 0.08% −0.02
GTX Garrett Motion Inc. Reduce -8.7% 0.07% −0.02
XJEQX Abrdn Japan Equity Fund Inc. Sold out 0.00% −0.01

Portfolio Buys Q1 2024 → Q2 2024
NVDA Nvidia Corp. New 1.72% +1.72
AAXJ iShares MSCI All Country Asi New 1.27% +1.27
VOO Vanguard S&P 500 ETF New 1.26% +1.26
KRBN KS Global Carbon Stratgy ETF Add +1622.0% 0.89% +0.84
VT Vanguard Tot World STK ETF Add +12.5% 2.68% +0.38
CVNA Carvana Co. New 0.20% +0.20
DFS Discover Financial Services New 0.08% +0.08
DESP Despegar.com Corp. New 0.07% +0.07
ALIT Alight Inc. Class A New 0.06% +0.06
TMO Thermo Fisher Scientific Inc. New 0.06% +0.06
OSCR Oscar Health Inc. Class A New 0.06% +0.06
BLMN Bloomin' Brands Inc. New 0.06% +0.06
SEMR Semrush Holdings Inc. Class A Add +76.7% 0.13% +0.06
BBRE JPM Betabldrs MSCI US REIT Add +0.2% 6.20% +0.05
SHOC Shoc US Semicon Equity ETF New 0.05% +0.05
GVI iShares Intermediate Governm New 0.05% +0.05
MCO Moody's Corp. Add +14.6% 0.17% +0.03
GDX Vaneck Gold Miners ETF Add +10.0% 0.20% +0.03
FICO Fair Isaac Corp. Add +20.4% 0.07% +0.02
ZTS Zoetis Inc. Add +37.4% 0.06% +0.02
UPWK Upwork Inc. Add +39.5% 0.07% +0.01
IBKR Interactive Brokers Gro Class A Add +8.4% 0.08% +0.01
INTU Intuit Inc. Add +20.6% 0.06% +0.01
V Visa Inc. Class A Add +12.8% 0.15% +0.01
EWT iShares MSCI Taiwan ETF Add +14.3% 0.05% +0.01
ICE Intercontinental Exchange Inc. Add +14.8% 0.06% +0.01
BABA Alibaba Group Holding-SP ADR Add +9.1% 0.07% +0.01
CACC Credit Acceptance Corp. Add +8.9% 0.19% +0.01
RGLD Royal Gold Inc. Add +2.8% 0.08% +0.01
WDAY Workday Inc. Class A Add +23.1% 0.13% +0.00
STLA Stellantis NV Add +45.0% 0.07% +0.00
WAT Waters Corp. Add +19.8% 0.05% +0.00
ULCC Frontier Group Holdings Inc. Add +57.2% 0.07% −0.00
EL Estee Lauder Companies Class A Add +36.3% 0.05% −0.00
ALLY Ally Financial Inc. Add +0.1% 0.41% −0.00
FTRE Fortrea Holdings Inc. Add +61.3% 0.10% −0.00
CRH CRH PLC Add +1.3% 0.08% −0.01

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