Global Endowment Management, LP — 13F Holdings & Portfolio
CIK 1512237 · latest 13F-HR filed 2026-08-14
Global Endowment Management, LP manages $986.5M in 13F-reported U.S. long-equity assets across 72 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are VT (21.18%), VTI (11.90%), BND (10.89%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 6 new positions and exited 60; 40 existing positions rose in reported value and 17 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Loading holdings…
AUM
$986.5M
Long-equity book
Holdings
72
Distinct positions
Period
2026-06-30
Filed 2026-08-14
Q/Q Activity
+6 / −60 / ↑40 / ↓17
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26VT21.2% · +31%VTI11.9% · -5%BND10.9% · -2%VXUS10.5% · -15%BBRE4.6% · -2%AGG3.6% · +8%GOOGL3.6% · 0%NVDA2.5% · 0%AAPL2.2% · -6%IYR2.1% · 0%MSFT1.9% · -2%AAXJ1.8% · -5%VOO1.8% · +3%VWO1.8% · 0%DAR1.4% · +2699%SCHX1.4% · +20%TIP1.2% · +9%PHYS1.2% · 0%DJP1.1% · +28%EWJ1.1% · -5%TPB1.1% · newEWY1.0% · +1173%VTG1.0% · newCVLC0.7% · +24%SPDW0.6% · +14%SPY0.6% · -75%EAGG0.5% · +37%JNK0.4% · +14%SPAB0.4% · -12%GDX0.3% · -20%DBC0.3% · +16%HYG0.3% · +24%SPEM0.3% · +14%FLKR0.2% · -1%SPHY0.2% · newVGK0.2% · 0%KWEB0.2% · +17%CCOI0.2% · +760%SPYM0.2% · +93%VEA0.2% · -38%SPIB0.2% · +46%DXJ0.2% · 0%EWU0.2% · -26%AMZN0.2% · -46%ANGL0.1% · 0%EWT0.1% · newVNQ0.1% · -59%EWP0.1% · -33%FEZ0.1% · 0%EWC0.1% · +300%EWA0.1% · 0%SYRE0.1% · -33%AVGO0.1% · 0%LTPZ0.1% · 0%META0.1% · -46%ASHR0.1% · +30%EWS0.1% · 0%SHOC0.1% · 0%GVI0.1% · +19%QLTY0.1% · 0%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 73.3%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Aug 28, 2026.
Assets Under Management
$12.88B
Discretionary
$12.88B
Employees
82
Accounts
46
Address
224 W TREMONT AVENUE
CHARLOTTE, NC 28203
CHARLOTTE, NC 28203
Phone
(704) 333-8282
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| ABRAHAM, RICHARD, S Control | CHIEF COMPLIANCE OFFICER since Jan 2010 | Less than 5% | Individual |
| BANK, MATTHEW, BARRETT Control | CHIEF INVESTMENT OFFICER since Jan 2025 | Less than 5% | Individual |
| GEM GP, LLC Control | GENERAL PARTNER since Jul 2007 | Less than 5% | Domestic Entity |
| GLOBAL ENDOWMENT PARTNERS, LP Control | LIMITED PARTNER since Jul 2007 | 75% or more | Domestic Entity |
| LYNCH, STEPHANIE, SCHODER Control | MANAGING PARTNER since Jul 2023 | Less than 5% | Individual |
| PERESE, DOGAN, JOAQUIN Control | CHIEF OPERATING OFFICER since Sep 2023 | Less than 5% | Individual |
| RIPLEY, JAY, THOMAS Control | HEAD OF INVESTMENTS since Jan 2023 | Less than 5% | Individual |
| SMITH, MICHAEL, DAVID Control | CHIEF MARKET STRATEGIST since Mar 2010 | Less than 5% | Individual |
| BANK, MATTHEW, BARRETT Control Indirect owner via GEM GP, LLC | MEMBER since Jan 2025 | General partner, trustee or manager | Individual |
| GEM GP, LLC Control Indirect owner via GLOBAL ENDOWMENT PARTNERS, LP | GENERAL PARTNER since Jul 2007 | General partner, trustee or manager | Domestic Entity |
| LYNCH, STEPHANIE, SCHODER Control Indirect owner via GEM GP, LLC | MEMBER since Dec 2019 | General partner, trustee or manager | Individual |
| RIPLEY, JAY, THOMAS Control Indirect owner via GEM GP, LLC | MEMBER since Jan 2024 | General partner, trustee or manager | Individual |
| SMITH, MICHAEL, DAVID Control Indirect owner via GEM GP, LLC | MEMBER since Dec 2019 | General partner, trustee or manager | Individual |
Ownership & leadership changes · 12 filings with changes since Feb 10, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Mar 27, 2026 filing
- ChangedBANK, MATTHEW, BARRETT · title CO-CHIEF INVESTMENT OFFICER → CHIEF INVESTMENT OFFICER
- ChangedSMITH, MICHAEL, DAVID · title PARTNER, CO-CHIEF INVESTMENT OFFICER → CHIEF MARKET STRATEGIST
Mar 31, 2025 filing
- No longer listedDURHAM, JOSEPH, PORTER · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC · control person · listed since Dec 2019
- AddedBANK, MATTHEW, BARRETT · CO-CHIEF INVESTMENT OFFICER · Less than 5% · control person
- AddedBANK, MATTHEW, BARRETT · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC · control person
- AddedGEM GP, LLC · GENERAL PARTNER · General partner, trustee or manager · indirect via GLOBAL ENDOWMENT PARTNERS, LP · control person
- Listed againRIPLEY, JAY, THOMAS · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC · control person
- Listed againRIPLEY, JAY, THOMAS · HEAD OF INVESTMENTS · Less than 5% · control person
- ChangedABRAHAM, RICHARD, S · title CHIEF FINANCIAL OFFICER AND CHIEF COMPLIANCE OFFICER → CHIEF COMPLIANCE OFFICER
- ChangedSMITH, MICHAEL, DAVID · title PARTNER, CHIEF INVESTMENT OFFICER → PARTNER, CO-CHIEF INVESTMENT OFFICER
Oct 6, 2023 filing
- No longer listedDURHAM, JOSEPH, PORTER · MANAGING PARTNER AND GENERAL COUNSEL · Less than 5% · control person · listed since Jul 2007
- AddedPERESE, DOGAN, JOAQUIN · CHIEF OPERATING OFFICER · Less than 5% · control person
- Listed againLYNCH, STEPHANIE, SCHODER · MANAGING PARTNER · Less than 5% · control person
Feb 14, 2023 filing
- No longer listedFerguson, James, Buchanan · PARTNER · 10–25% · listed since Jan 2021
- No longer listedFerguson, James, Buchanan · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC · listed since Jan 2021
- No longer listedHENDERSON, RYAN, H · PARTNER, CHIEF OPERATING OFFICER · 10–25% · control person · listed since Dec 2015
- No longer listedHENDERSON, RYAN, H · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC · control person · listed since Dec 2019
- No longer listedLYNCH, STEPHANIE, SCHODER · PARTNER · 10–25% · listed since Jul 2007
- No longer listedMORTON, THRUSTON, BALLARD · PARTNER · 10–25% · listed since Jul 2007
- No longer listedRIPLEY, JAY, THOMAS · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC · listed since Jan 2021
- No longer listedRIPLEY, JAY, THOMAS · PARTNER · 10–25% · listed since Jan 2021
- No longer listedWRIGLEY, HUGH, NORMAN · PARTNER · 10–25% · listed since Jul 2007
- No longer listedWRIGLEY, HUGH, NORMAN · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC · listed since Dec 2019
- ChangedLYNCH, STEPHANIE, SCHODER · indirect via GEM GP, LLC: now a control person
Mar 31, 2022 filing
- ChangedDURHAM, JOSEPH, PORTER · title VICE-CHAIRMAN, MANAGING PARTNER, AND GENERAL COUNSEL → MANAGING PARTNER AND GENERAL COUNSEL
Mar 31, 2021 filing
- AddedFerguson, James, Buchanan · PARTNER · 10–25%
- AddedFerguson, James, Buchanan · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC
- AddedRIPLEY, JAY, THOMAS · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC
- AddedRIPLEY, JAY, THOMAS · PARTNER · 10–25%
- ChangedHENDERSON, RYAN, H · title PARTNER → PARTNER, CHIEF OPERATING OFFICER; now a control person
- ChangedHENDERSON, RYAN, H · indirect via GEM GP, LLC: now a control person
- ChangedSMITH, MICHAEL, DAVID · title CHIEF INVESTMENT OFFICER → PARTNER, CHIEF INVESTMENT OFFICER
Mar 30, 2020 filing
- No longer listedMORTON, THRUSTON, BALLARD · LIMITED PARTNER · 25–50% · indirect via GLOBAL ENDOWMENT PARTNERS, LP · control person · listed since Jul 2007
- No longer listedMORTON, THRUSTON, BALLARD · SOLE MEMBER · 75% or more · indirect via GEM GP, LLC · control person · listed since Jul 2007
- AddedDURHAM, JOSEPH, PORTER · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC · control person
- AddedHENDERSON, RYAN, H · PARTNER · 10–25%
- AddedHENDERSON, RYAN, H · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC
- AddedLYNCH, STEPHANIE, SCHODER · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC
- AddedLYNCH, STEPHANIE, SCHODER · PARTNER · 10–25%
- AddedSMITH, MICHAEL, DAVID · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC · control person
- AddedWRIGLEY, HUGH, NORMAN · PARTNER · 10–25%
- AddedWRIGLEY, HUGH, NORMAN · MEMBER · General partner, trustee or manager · indirect via GEM GP, LLC
- ChangedMORTON, THRUSTON, BALLARD · title CHAIRMAN → PARTNER; ownership Less than 5% → 10–25%; no longer a control person
Mar 29, 2019 filing
- ChangedDURHAM, JOSEPH, PORTER · title VICE-CHAIRMAN, MANAGING PARTNER, GENERAL COUNSEL AND CHIEF OPERATIONS OFFICER → VICE-CHAIRMAN, MANAGING PARTNER, AND GENERAL COUNSEL
Mar 28, 2018 filing
- ChangedDURHAM, JOSEPH, PORTER · title CHIEF LEGAL OFFICER AND CHIEF OPERATIONS OFFICER → VICE-CHAIRMAN, MANAGING PARTNER, GENERAL COUNSEL AND CHIEF OPERATIONS OFFICER
- ChangedMORTON, THRUSTON, BALLARD · title CHIEF EXECUTIVE OFFICER → CHAIRMAN
Mar 30, 2016 filing
- ChangedMORTON, THRUSTON, BALLARD · indirect via GLOBAL ENDOWMENT PARTNERS, LP: ownership 50–75% → 25–50%
Older changes (3 more filings)
Feb 25, 2014 filing
- No longer listedBATY, STANLEY, LOGAN · MANAGING MEMBER · General partner, trustee or manager · indirect via NWHX, LLC · control person · listed since May 2007
- No longer listedBRENDEN FAMILY GROWTH FUND, LLC · MEMBER · 25–50% · indirect via NWHX, LLC · control person · listed since Jul 2007
- No longer listedNORMAN, BRENDEN, L · MANAGING MEMBER · 50–75% · indirect via BRENDEN FAMILY GROWTH FUND, LLC · control person · listed since Jul 2007
- No longer listedNWHX, LLC · LIMITED PARTNER · 5–10% · listed since Jul 2007
Nov 14, 2013 filing
- AddedSMITH, MICHAEL, DAVID · CHIEF INVESTMENT OFFICER · Less than 5% · control person
- ChangedMORTON, THRUSTON, BALLARD · title CHIEF EXECUTIVE OFFICER AND CHIEF INVESTMENT OFFICER → CHIEF EXECUTIVE OFFICER
Feb 10, 2012 filing (earliest on record)
- ListedABRAHAM, RICHARD, S · CHIEF FINANCIAL OFFICER AND CHIEF COMPLIANCE OFFICER · Less than 5% · control person
- ListedBATY, STANLEY, LOGAN · MANAGING MEMBER · General partner, trustee or manager · indirect via NWHX, LLC · control person
- ListedBRENDEN FAMILY GROWTH FUND, LLC · MEMBER · 25–50% · indirect via NWHX, LLC · control person
- ListedDURHAM, JOSEPH, PORTER · CHIEF LEGAL OFFICER AND CHIEF OPERATIONS OFFICER · Less than 5% · control person
- ListedGEM GP, LLC · GENERAL PARTNER · Less than 5% · control person
- ListedGLOBAL ENDOWMENT PARTNERS, LP · LIMITED PARTNER · 75% or more · control person
- ListedMORTON, THRUSTON, BALLARD · CHIEF EXECUTIVE OFFICER AND CHIEF INVESTMENT OFFICER · Less than 5% · control person
- ListedMORTON, THRUSTON, BALLARD · LIMITED PARTNER · 50–75% · indirect via GLOBAL ENDOWMENT PARTNERS, LP · control person
- ListedMORTON, THRUSTON, BALLARD · SOLE MEMBER · 75% or more · indirect via GEM GP, LLC · control person
- ListedNORMAN, BRENDEN, L · MANAGING MEMBER · 50–75% · indirect via BRENDEN FAMILY GROWTH FUND, LLC · control person
- ListedNWHX, LLC · LIMITED PARTNER · 5–10%
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- VANGUARD INTL EQUITY INDEX F$68.1M +48.3%
- DARLING INGREDIENTS INC$13.7M +2371.1%
- VANGUARD INDEX FDS$10.1M +9.4%
- ISHARES INC$9.8M +1989.8%
- ALPHABET INC$7.0M +24.3%
Top Trims
- STATE STR SPDR S&P 500 ETF T-$13.8M -71.1%
- VANGUARD STAR FDS-$6.9M -6.3%
- ISHARES TR-$3.0M -90.5%
- SPROTT ASSET MANAGEMENT LP-$2.1M -14.9%
- VANGUARD INDEX FDS-$1.6M -55.7%
New Positions
- TURNING PT BRANDS INC$10.8M
- VANGUARD MALVERN FDS$10.0M
- SPDR SERIES TRUST$2.2M
- ISHARES INC$1.4M
- SPDR SERIES TRUST$463.0K
Exited Positions
- SELECT SECTOR SPDR TR$9.0M
- TXO PARTNERS LP$4.2M
- BERKSHIRE HATHAWAY INC DEL$3.8M
- VANGUARD CHARLOTTE FDS$2.9M
- ISHARES TR$2.4M
Global Endowment Management, LP Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | VANGUARD INTL EQUITY INDEX F | VT | 922042742 | $209.0M | 21.18% | 1,331,484 | SH |
| 2 | VANGUARD INDEX FDS | VTI | 922908769 | $117.4M | 11.90% | 317,307 | SH |
| 3 | VANGUARD BD INDEX FDS | BND | 921937835 | $107.4M | 10.89% | 1,463,086 | SH |
| 4 | VANGUARD STAR FDS | VXUS | 921909768 | $104.1M | 10.55% | 1,217,344 | SH |
| 5 | J P MORGAN EXCHANGE TRADED F | BBRE | 46641Q738 | $45.8M | 4.65% | 427,282 | SH |
| 6 | ISHARES TR | AGG | 464287226 | $35.9M | 3.64% | 362,472 | SH |
| 7 | ALPHABET INC | GOOGL | 02079K305 | $35.8M | 3.62% | 100,042 | SH |
| 8 | NVIDIA CORPORATION | NVDA | 67066G104 | $24.9M | 2.53% | 124,579 | SH |
| 9 | APPLE INC | AAPL | 037833100 | $21.6M | 2.19% | 74,820 | SH |
| 10 | ISHARES TR | IYR | 464287739 | $20.9M | 2.11% | 204,000 | SH |
| 11 | MICROSOFT CORP | MSFT | 594918104 | $18.4M | 1.86% | 49,241 | SH |
| 12 | ISHARES TR | AAXJ | 464288182 | $17.9M | 1.81% | 150,034 | SH |
| 13 | VANGUARD INDEX FDS | VOO | 922908363 | $17.9M | 1.81% | 26,062 | SH |
| 14 | VANGUARD INTL EQUITY INDEX F | VWO | 922042858 | $17.8M | 1.80% | 298,000 | SH |
| 15 | DARLING INGREDIENTS INC | DAR | 237266101 | $14.3M | 1.45% | 261,500 | SH |
| 16 | SCHWAB STRATEGIC TR | SCHX | 808524201 | $13.7M | 1.39% | 465,798 | SH |
| 17 | ISHARES TR | TIP | 464287176 | $12.0M | 1.22% | 109,883 | SH |
| 18 | SPROTT ASSET MANAGEMENT LP | PHYS | 85207H104 | $11.9M | 1.21% | 396,000 | SH |
| 19 | BARCLAYS BANK PLC | DJP | 06738C778 | $11.1M | 1.13% | 254,683 | SH |
| 20 | ISHARES INC | EWJ | 46434G822 | $10.9M | 1.11% | 116,963 | SH |
| 21 | TURNING PT BRANDS INC | TPB | 90041L105 | $10.8M | 1.09% | 126,808 | SH |
| 22 | ISHARES INC | EWY | 464286772 | $10.3M | 1.04% | 50,923 | SH |
| 23 | VANGUARD MALVERN FDS | VTG | 922020680 | $10.0M | 1.02% | 133,210 | SH |
| 24 | MORGAN STANLEY ETF TRUST | CVLC | 61774R205 | $7.2M | 0.73% | 76,392 | SH |
| 25 | SPDR INDEX SHS FDS | SPDW | 78463X889 | $6.0M | 0.61% | 119,538 | SH |
| 26 | STATE STR SPDR S&P 500 ETF T | SPY | 78462F103 | $5.6M | 0.57% | 7,500 | SH |
| 27 | ISHARES TR | EAGG | 46435U549 | $4.4M | 0.45% | 93,604 | SH |
| 28 | SPDR SERIES TRUST | JNK | 78468R622 | $3.9M | 0.39% | 40,340 | SH |
| 29 | SPDR SERIES TRUST | SPAB | 78464A649 | $3.8M | 0.39% | 148,926 | SH |
| 30 | VANECK ETF TRUST | GDX | 92189F106 | $3.0M | 0.31% | 40,000 | SH |
| 31 | INVESCO DB COMMDY INDX TRCK | DBC | 46138B103 | $2.9M | 0.29% | 107,752 | SH |
| 32 | ISHARES TR | HYG | 464288513 | $2.7M | 0.27% | 33,266 | SH |
| 33 | SPDR INDEX SHS FDS | SPEM | 78463X509 | $2.7M | 0.27% | 51,206 | SH |
| 34 | FRANKLIN TEMPLETON ETF TR | FLKR | 35473P710 | $2.2M | 0.22% | 33,565 | SH |
| 35 | SPDR SERIES TRUST | SPHY | 78468R606 | $2.2M | 0.22% | 94,519 | SH |
| 36 | VANGUARD INTL EQUITY INDEX F | VGK | 922042874 | $2.2M | 0.22% | 25,000 | SH |
| 37 | KRANESHARES TRUST | KWEB | 500767306 | $2.2M | 0.22% | 90,000 | SH |
| 38 | COGENT COMM HOLDINGS INC | CCOI | 19239V302 | $2.2M | 0.22% | 158,582 | SH |
| 39 | SPDR SERIES TRUST | SPYM | 78464A854 | $2.2M | 0.22% | 24,926 | SH |
| 40 | VANGUARD TAX-MANAGED FDS | VEA | 921943858 | $2.1M | 0.22% | 30,000 | SH |
| 41 | SPDR SERIES TRUST | SPIB | 78464A375 | $1.8M | 0.18% | 54,077 | SH |
| 42 | WISDOMTREE TR | DXJ | 97717W851 | $1.7M | 0.18% | 10,000 | SH |
| 43 | ISHARES TR | EWU | 46435G334 | $1.7M | 0.17% | 37,000 | SH |
| 44 | AMAZON COM INC | AMZN | 023135106 | $1.6M | 0.17% | 6,896 | SH |
| 45 | VANECK ETF TRUST | ANGL | 92189F437 | $1.5M | 0.15% | 50,000 | SH |
| 46 | ISHARES INC | EWT | 46434G772 | $1.4M | 0.14% | 13,000 | SH |
| 47 | VANGUARD INDEX FDS | VNQ | 922908553 | $1.3M | 0.13% | 13,000 | SH |
| 48 | ISHARES INC | EWP | 464286764 | $1.2M | 0.12% | 20,000 | SH |
| 49 | SPDR INDEX SHS FDS | FEZ | 78463X202 | $1.2M | 0.12% | 17,160 | SH |
| 50 | ISHARES INC | EWC | 464286509 | $1.2M | 0.12% | 20,000 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $986.5M | 72 | 0001512237-26-000004 |
| 2026-03-31 | 2026-05-14 | $896.1M | 126 | 0001512237-26-000003 |
| 2025-12-31 | 2026-02-13 | $801.1M | 138 | 0001512237-26-000002 |
| 2025-09-30 | 2025-11-13 | $798.6M | 128 | 0001512237-25-000007 |
Filer Information
Address
224 W TREMONT AVECHARLOTTE, NC 28203
Phone
(704) 333-8282
Filing Manager
Global Endowment Management, LP
CHARLOTTE, NC
Signatory
Michael D. Smith
Chief Investment Officer