Global Endowment Management, LP

Name: Global Endowment Management, LP 13F holdings, Q3 2024
Creator: Global Endowment Management, LP
Published: 2024-11-13

Q2 2026Q1 2026Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q2 2024Q1 2024

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 13, 2024), Global Endowment Management, LP reported 131 stock positions worth $990.2 million. Its top holding was Vanguard Total Bond Market (BND) at 23.7% of the portfolio, followed by Vanguard Total Intl Stock (VXUS, 10.2%) and VG Morningstar TS MKT ETF-US (VTI, 9.7%). Compared with Q2 2024, it opened 18 new positions, sold out of 9, added to 36 and reduced 43. The biggest buy was Carvana (CVNA, shares +1122%) and the biggest sale an exit from SS SPDR S&P 500 ETF Trust-US (SPY).

Most Recent 13F: Q2 2026
Location: CHARLOTTE, NC
CIK: 0001512237
Portfolio Value: $990.2M (Q3 2024)
SEC Filing: 0001085146-24-005647 ↗ filed Nov 13, 2024

Holdings Value

Holdings 131 stocks · $990.2M


BND Vanguard Total Bond Market	23.68%	3,121,411	$234.4M	Reduce -0.2%
VXUS Vanguard Total Intl Stock	10.15%	1,552,826	$100.5M	Reduce -18.1%
VTI VG Morningstar TS MKT ETF-US	9.71%	339,574	$96.2M	No change
BBRE JPM Betabldrs MSCI US REIT filed as J P MORGAN EXCHANGE TRADED F	5.57%	546,508	$55.1M	Reduce -18.1%
TXO Txo Partners LP	3.97%	1,985,130	$39.3M	No change
CVNA Carvana Co.	3.17%	180,021	$31.3M	Add +1121.8%
VT Vanguard Tot World STK ETF	3.08%	255,145	$30.5M	Add +13.4%
META Meta Platforms Inc. Class A	2.66%	46,036	$26.4M	Add +174.5%
AAPL Apple Inc.	2.14%	91,074	$21.2M	Reduce -2.7%
NVDA Nvidia Corp.	1.75%	142,520	$17.3M	Add +8.2%
VNQ Vanguard Real Estate ETF	1.58%	160,093	$15.6M	Reduce -2.6%
VWO Vanguard Ftse Emerging Marke	1.44%	298,000	$14.3M	Reduce -9.2%
CACC Credit Acceptance Corp.	1.44%	32,102	$14.2M	Add +825.1%
WIX Wix.com Ltd.	1.42%	84,195	$14.1M	Add +1361.0%
VOO Vanguard S&P 500 ETF	1.29%	24,199	$12.8M	Add +1.4%
AAXJ iShares MSCI All Country Asi	1.28%	161,522	$12.7M	Reduce -2.9%
XLV SS Health Care Select Sector	1.20%	77,171	$11.9M	No change
EWJ iShares MSCI Japan ETF	1.19%	164,500	$11.8M	Add +7.2%
XLP SS Consumer Staples Sel Sect	1.05%	125,035	$10.4M	No change
IBKR Interactive Brokers Gro Class A	0.98%	69,876	$9.7M	Add +1030.7%
PDD PDD Holdings Inc.	0.98%	71,700	$9.7M	New
SHY iShares 1-3 Year Treasury Bo	0.93%	111,250	$9.3M	No change
TIP iShares Tips Bond ETF	0.88%	78,880	$8.7M	Add +1.5%
KRBN KS Global Carbon Stratgy ETF	0.83%	258,300	$8.2M	No change
PHYS Sprott Physical Gold Trust	0.82%	396,000	$8.1M	Reduce -16.8%
IEI iShares 3-7 Year Treasury Bo	0.75%	62,000	$7.4M	Add +5.1%
BRK.B Berkshire Hathaway Inc. Class B	0.71%	15,357	$7.1M	Reduce -37.5%
AMZN Amazon.com Inc.	0.70%	37,437	$7.0M	Reduce -7.4%
MSFT Microsoft Corp.	0.66%	15,138	$6.5M	Add +6.5%
DBC Invesco DB Commodity Index T	0.63%	281,024	$6.3M	Add +11.1%
YUMC Yum China Holdings Inc.	0.56%	122,502	$5.5M	New
HTHT H World Group Ltd.-ADR	0.51%	136,860	$5.1M	New
IYR iShares US Real Estate ETF	0.43%	41,880	$4.3M	Reduce -31.2%
VWOB Vanguard Emerg MKTS Gov BND	0.42%	63,350	$4.2M	No change
EWU iShares MSCI United Kingdom	0.38%	100,000	$3.7M	No change
JNK SS SPDR BB High Yield Bond	0.36%	36,570	$3.6M	New
MLPX Global X MLP & Energy Infras	0.33%	59,619	$3.2M	Reduce -45.8%
GLD SPDR Gold Shares	0.32%	13,182	$3.2M	Reduce -25.1%
GOOGL Alphabet Inc. Class A	0.30%	18,048	$3.0M	Reduce -19.9%
TLT iShares 20+ Year Treasury BD	0.28%	28,000	$2.7M	Add +7.7%
EIRL iShares MSCI Ireland ETF	0.28%	40,000	$2.7M	Reduce -26.5%
VEA Vanguard Ftse Developed ETF	0.27%	50,000	$2.6M	No change
IEF iShares 7-10 Year Treasury B	0.23%	23,000	$2.3M	New
TLH iShares 10-20 Year Treasury	0.22%	20,210	$2.2M	No change
GDX Vaneck Gold Miners ETF	0.22%	55,000	$2.2M	No change
HYG Ishr Ibx Usd Hiyld CB ETF-Ui	0.21%	25,812	$2.1M	Reduce -15.6%
EWQ iShares MSCI France ETF	0.21%	50,870	$2.1M	New
WGO Winnebago Industries	0.21%	35,309	$2.1M	New
MELI MercadoLibre Inc.	0.21%	990	$2.0M	No change
XOP SS SPDR S&P Og Exp & Prod	0.20%	15,000	$2.0M	No change
EWA iShares MSCI Australia ETF	0.19%	69,997	$1.9M	No change
USO United States Oil Fund LP	0.19%	26,500	$1.9M	Add +65.6%
APPF Appfolio Inc. Class A	0.18%	7,683	$1.8M	No change
KSPI JSC Kaspi.kz ADR filed as KASPI KZ JSC	0.18%	17,014	$1.8M	Add +5.0%
CPNG Coupang Inc.	0.18%	73,408	$1.8M	Add +26.7%
EWS iShares MSCI Singapore ETF	0.18%	80,000	$1.8M	No change
INDA iShares MSCI India ETF	0.18%	30,000	$1.8M	Reduce -25.0%
GE General Electric filed as GE AEROSPACE	0.17%	8,849	$1.7M	Add +2.9%
WDAY Workday Inc. Class A	0.15%	6,268	$1.5M	Add +10.6%
GBDC Golub Capital BDC Inc.	0.15%	100,000	$1.5M	Add +100.0%
ADX Adams Diversified Equity	0.15%	69,383	$1.5M	Add +2.1%
MCO Moody's Corp.	0.15%	3,148	$1.5M	Reduce -15.5%
ANGL Vaneck Fallen Angel High YLD	0.15%	50,000	$1.5M	No change
EWP iShares MSCI Spain ETF	0.14%	40,000	$1.4M	No change
VTIP Vanguard Short-Term Tips	0.14%	28,200	$1.4M	No change
XNIEX Virtus Equity & Convertible	0.14%	60,000	$1.4M	No change
SJNK SS SPDR BB St Hi Yield ETF	0.13%	50,000	$1.3M	No change
PPLI People Inc. filed as IAC INC	0.13%	23,229	$1.3M	Add +6.7%
CCOI Cogent Communications Holdin	0.13%	16,397	$1.2M	Add +7.8%
ARGT Global X MSCI Argentina ETF	0.12%	18,660	$1.2M	No change
BN Brookfield Corp.	0.12%	21,845	$1.2M	New
ALLY Ally Financial Inc.	0.12%	32,252	$1.1M	Reduce -67.1%
KCCA Kraneshares California Carbo	0.11%	51,230	$1.1M	Add +24.9%
ESGR Enstar Group Ltd.	0.11%	3,409	$1.1M	Reduce -17.9%
VAW Vanguard Materials ETF	0.11%	4,920	$1.0M	Reduce -28.7%
FTRE Fortrea Holdings Inc.	0.10%	51,998	$1.0M	Add +32.2%
EWZ iShares MSCI Brazil ETF	0.10%	35,000	$1.0M	Reduce -30.0%
KWEB Kranesh Csi China Internet	0.10%	28,600	$973K	Reduce -58.7%
EWY iShares MSCI South Korea ETF	0.10%	15,000	$959K	No change
CRH CRH PLC	0.10%	10,208	$947K	Add +6.5%
K Kellanova	0.10%	11,724	$946K	Reduce -4.6%
ULCC Frontier Group Holdings Inc.	0.09%	173,208	$927K	Add +34.4%
XLC SS Comm Select Sector SPDR	0.09%	10,000	$904K	No change
XLK SS Technology Select Sector	0.09%	4,000	$903K	Add +300.0%
XP XP Inc. Class A	0.09%	49,154	$882K	New
XLF SS Financial Select Sector	0.09%	19,030	$862K	No change
EWL iShares MSCI Switzerland ETF	0.08%	16,000	$834K	No change
CCK Crown Holdings Inc.	0.08%	8,602	$825K	New
RGLD Royal Gold Inc.	0.08%	5,842	$820K	Reduce -8.0%
FXI iShares China Large-Cap ETF	0.08%	25,750	$818K	Reduce -30.1%
DFS Discover Financial Services	0.08%	5,731	$804K	Reduce -2.6%
BABA Alibaba Group Holding-SP ADR	0.08%	7,464	$792K	Reduce -13.7%
EQH Equitable Holdings Inc.	0.08%	18,764	$789K	Reduce -0.4%
ASHR Xtrackers Harvest Csi 300 CH	0.08%	27,400	$783K	Reduce -24.9%
GTX Garrett Motion Inc.	0.07%	89,607	$733K	Add +13.6%
OSCR Oscar Health Inc. Class A	0.07%	34,401	$730K	Add +1.1%
ADSK Autodesk Inc.	0.07%	2,610	$719K	New
CRM Salesforce Inc.	0.07%	2,518	$689K	Add +0.4%
GEN Gen Digital Inc.	0.07%	24,483	$672K	Reduce -30.3%
UPWK Upwork Inc.	0.07%	63,677	$665K	Reduce -0.8%
GDDY GoDaddy Inc. Class A	0.07%	4,116	$645K	Reduce -23.6%
XSW SS SPDR S&P Soft & Serv ETF	0.06%	4,000	$643K	No change
ALIT Alight Inc. Class A	0.06%	86,116	$637K	Add +15.9%
DESP Despegar.com Corp.	0.06%	49,303	$611K	Reduce -3.4%
FICO Fair Isaac Corp.	0.06%	296	$575K	Reduce -34.8%
HUM Humana Inc.	0.05%	1,696	$537K	Reduce -21.7%
SYRE Spyre Therapeutics Inc.	0.05%	18,184	$535K	No change
QLTY GMO U.S. Quality ETF	0.05%	16,000	$522K	New
GVI iShares Intermediate Governm	0.05%	4,827	$517K	Add +7.4%
BLMN Bloomin' Brands Inc.	0.05%	31,181	$515K	Add +12.5%
STLA Stellantis NV	0.05%	35,575	$500K	Add +5.0%
ZTS Zoetis Inc.	0.05%	2,550	$498K	Reduce -25.0%
WAT Waters Corp.	0.05%	1,374	$494K	Reduce -22.1%
ICE Intercontinental Exchange Inc.	0.05%	3,052	$490K	Reduce -29.0%
V Visa Inc. Class A	0.05%	1,731	$476K	Reduce -67.3%
SHOC Shoc US Semicon Equity ETF	0.05%	10,000	$468K	No change
TMO Thermo Fisher Scientific Inc.	0.05%	749	$463K	Reduce -23.9%
INTU Intuit Inc.	0.05%	743	$461K	Reduce -16.4%
MRSH Marsh & McLennan Cos	0.05%	2,059	$459K	New
APGE Apogee Therapeutics Inc.	0.05%	7,797	$458K	No change
VTLE Vital Energy Inc.	0.04%	16,375	$440K	New
EWT iShares MSCI Taiwan ETF	0.04%	8,000	$431K	No change
HTGC Hercules Capital Inc.	0.04%	20,000	$393K	New
PFIX Simplify Interest Rate Hedge	0.04%	9,500	$391K	Add +13.1%
EWI iShares MSCI Italy ETF	0.04%	10,000	$390K	No change
ECH iShares MSCI Chile ETF	0.04%	14,000	$382K	No change
EWC iShares MSCI Canada ETF	0.02%	5,000	$208K	Reduce -87.5%
BCSF Bain Capital Specialty Finan	0.02%	12,500	$208K	New
ETHA iShares Ethereum Trust ETF	0.02%	10,090	$198K	New
FSK FS KKR Capital Corp.	0.02%	10,000	$197K	New
XBXMX Nuveen S&P 500 Buy-WR Inc.	0.01%	10,000	$137K	No change

Portfolio Sells Q2 2024 → Q3 2024


SPY SS SPDR S&P 500 ETF Trust-US	Sold out	0.00%	−5.98
VXUS Vanguard Total Intl Stock	Reduce -18.1%	10.15%	−1.94
AGG iShares Core U.S. Aggregate	Sold out	0.00%	−1.06
BBRE JPM Betabldrs MSCI US REIT	Reduce -18.1%	5.57%	−0.63
BRK.B Berkshire Hathaway Inc. Class B	Reduce -37.5%	0.71%	−0.34
ALLY Ally Financial Inc.	Reduce -67.1%	0.12%	−0.30
MLPX Global X MLP & Energy Infras	Reduce -45.8%	0.33%	−0.27
BKLN Invesco Senior Loan ETF	Sold out	0.00%	−0.19
BND Vanguard Total Bond Market	Reduce -0.2%	23.68%	−0.17
FCNCA First Citizens Bcshs Class A	Sold out	0.00%	−0.15
EWC iShares MSCI Canada ETF	Reduce -87.5%	0.02%	−0.14
IYR iShares US Real Estate ETF	Reduce -31.2%	0.43%	−0.13
GOOGL Alphabet Inc. Class A	Reduce -19.9%	0.30%	−0.13
SEMR Semrush Holdings Inc. Class A	Sold out	0.00%	−0.13
AMZN Amazon.com Inc.	Reduce -7.4%	0.70%	−0.12
EWW iShares MSCI Mexico ETF	Sold out	0.00%	−0.12
KWEB Kranesh Csi China Internet	Reduce -58.7%	0.10%	−0.10
V Visa Inc. Class A	Reduce -67.3%	0.05%	−0.10
PHYS Sprott Physical Gold Trust	Reduce -16.8%	0.82%	−0.09
EIRL iShares MSCI Ireland ETF	Reduce -26.5%	0.28%	−0.09
VWO Vanguard Ftse Emerging Marke	Reduce -9.2%	1.44%	−0.08
NEW AMERICA HIGH INCOME FUND	Sold out	0.00%	−0.08
GLD SPDR Gold Shares	Reduce -25.1%	0.32%	−0.08
INDA iShares MSCI India ETF	Reduce -25.0%	0.18%	−0.06
EL Estee Lauder Companies Class A	Sold out	0.00%	−0.05
RSPG Invesco S&P 500 Equal Weight	Sold out	0.00%	−0.04
EWZ iShares MSCI Brazil ETF	Reduce -30.0%	0.10%	−0.04
HYG Ishr Ibx Usd Hiyld CB ETF-Ui	Reduce -15.6%	0.21%	−0.04
VAW Vanguard Materials ETF	Reduce -28.7%	0.11%	−0.04
HUM Humana Inc.	Reduce -21.7%	0.05%	−0.03
GEN Gen Digital Inc.	Reduce -30.3%	0.07%	−0.03
ESGR Enstar Group Ltd.	Reduce -17.9%	0.11%	−0.02
FXI iShares China Large-Cap ETF	Reduce -30.1%	0.08%	−0.02
INTU Intuit Inc.	Reduce -16.4%	0.05%	−0.02
MCO Moody's Corp.	Reduce -15.5%	0.15%	−0.02
GDDY GoDaddy Inc. Class A	Reduce -23.6%	0.07%	−0.01
FICO Fair Isaac Corp.	Reduce -34.8%	0.06%	−0.01
ICE Intercontinental Exchange Inc.	Reduce -29.0%	0.05%	−0.01
ZTS Zoetis Inc.	Reduce -25.0%	0.05%	−0.01
ASHR Xtrackers Harvest Csi 300 CH	Reduce -24.9%	0.08%	−0.01
TMO Thermo Fisher Scientific Inc.	Reduce -23.9%	0.05%	−0.01
DESP Despegar.com Corp.	Reduce -3.4%	0.06%	−0.01
UPWK Upwork Inc.	Reduce -0.8%	0.07%	−0.01
WAT Waters Corp.	Reduce -22.1%	0.05%	−0.00
EQH Equitable Holdings Inc.	Reduce -0.4%	0.08%	−0.00
RGLD Royal Gold Inc.	Reduce -8.0%	0.08%	−0.00
DFS Discover Financial Services	Reduce -2.6%	0.08%	−0.00
AAXJ iShares MSCI All Country Asi	Reduce -2.9%	1.28%	+0.01
BABA Alibaba Group Holding-SP ADR	Reduce -13.7%	0.08%	+0.01
K Kellanova	Reduce -4.6%	0.10%	+0.02

Portfolio Buys Q2 2024 → Q3 2024


CVNA Carvana Co.	Add +1121.8%	3.17%	+2.96
META Meta Platforms Inc. Class A	Add +174.5%	2.66%	+1.77
WIX Wix.com Ltd.	Add +1361.0%	1.42%	+1.32
CACC Credit Acceptance Corp.	Add +825.1%	1.44%	+1.25
PDD PDD Holdings Inc.	New	0.98%	+0.98
IBKR Interactive Brokers Gro Class A	Add +1030.7%	0.98%	+0.90
YUMC Yum China Holdings Inc.	New	0.56%	+0.56
HTHT H World Group Ltd.-ADR	New	0.51%	+0.51
VT Vanguard Tot World STK ETF	Add +13.4%	3.08%	+0.40
JNK SS SPDR BB High Yield Bond	New	0.36%	+0.36
IEF iShares 7-10 Year Treasury B	New	0.23%	+0.23
EWQ iShares MSCI France ETF	New	0.21%	+0.21
WGO Winnebago Industries	New	0.21%	+0.21
BN Brookfield Corp.	New	0.12%	+0.12
XP XP Inc. Class A	New	0.09%	+0.09
CCK Crown Holdings Inc.	New	0.08%	+0.08
EWJ iShares MSCI Japan ETF	Add +7.2%	1.19%	+0.08
ADSK Autodesk Inc.	New	0.07%	+0.07
GBDC Golub Capital BDC Inc.	Add +100.0%	0.15%	+0.07
XLK SS Technology Select Sector	Add +300.0%	0.09%	+0.07
CPNG Coupang Inc.	Add +26.7%	0.18%	+0.05
QLTY GMO U.S. Quality ETF	New	0.05%	+0.05
USO United States Oil Fund LP	Add +65.6%	0.19%	+0.05
MRSH Marsh & McLennan Cos	New	0.05%	+0.05
VTLE Vital Energy Inc.	New	0.04%	+0.04
HTGC Hercules Capital Inc.	New	0.04%	+0.04
CCOI Cogent Communications Holdin	Add +7.8%	0.13%	+0.03
IEI iShares 3-7 Year Treasury Bo	Add +5.1%	0.75%	+0.03
VOO Vanguard S&P 500 ETF	Add +1.4%	1.29%	+0.03
ULCC Frontier Group Holdings Inc.	Add +34.4%	0.09%	+0.03
NVDA Nvidia Corp.	Add +8.2%	1.75%	+0.03
TLT iShares 20+ Year Treasury BD	Add +7.7%	0.28%	+0.02
GE General Electric	Add +2.9%	0.17%	+0.02
BCSF Bain Capital Specialty Finan	New	0.02%	+0.02
WDAY Workday Inc. Class A	Add +10.6%	0.15%	+0.02
ETHA iShares Ethereum Trust ETF	New	0.02%	+0.02
FSK FS KKR Capital Corp.	New	0.02%	+0.02
CRH CRH PLC	Add +6.5%	0.10%	+0.02
PPLI People Inc.	Add +6.7%	0.13%	+0.02
OSCR Oscar Health Inc. Class A	Add +1.1%	0.07%	+0.02
KCCA Kraneshares California Carbo	Add +24.9%	0.11%	+0.01
DBC Invesco DB Commodity Index T	Add +11.1%	0.63%	+0.01
FTRE Fortrea Holdings Inc.	Add +32.2%	0.10%	+0.01
ALIT Alight Inc. Class A	Add +15.9%	0.06%	+0.01
GVI iShares Intermediate Governm	Add +7.4%	0.05%	+0.00
GTX Garrett Motion Inc.	Add +13.6%	0.07%	+0.00
TIP iShares Tips Bond ETF	Add +1.5%	0.88%	+0.00
CRM Salesforce Inc.	Add +0.4%	0.07%	+0.00
PFIX Simplify Interest Rate Hedge	Add +13.1%	0.04%	−0.00
ADX Adams Diversified Equity	Add +2.1%	0.15%	−0.00

All Filings

Quarter	Positions	13F Reported Value	Top Holdings
Q2 2026	72	$986.5M	VT, VTI, BND, VXUS, BBRE
Q1 2026	126	$896.1M	VT, VXUS, BND, VTI, BBRE
Q4 2025	138	$801.1M	BND, VTI, VXUS, BBRE, VT
Q3 2025	128	$798.6M	BND, VTI, VXUS, VT, TXO
Q2 2025	128	$751.2M	BND, VTI, VXUS, SPY, VT
Q1 2025	142	$769.3M	BND, VTI, VXUS, BBRE, SPY
Q4 2024	140	$781.8M	BND, VTI, VXUS, BBRE, TXO
Q3 2024	131	$990.2M	BND, VXUS, VTI, BBRE, TXO
Q2 2024	122	$944.9M	BND, VXUS, VTI, BBRE, SPY
Q1 2024	128	$959.8M	BND, VXUS, VTI, BBRE, SPY