13F-HR 1 d13fhr.txt FORM 13-F UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F Form 13F Cover Page Report for the Calendar Year or Quarter Ended: March 31, 2011 Check here if Amendment [_]; Amendment Number: ------------------ This Amendment (Check only one.): [_] is a restatement. [_] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Global Endowment Management, LP Address: 100 N. Tryon St.; Suite 2770, Charlotte, NC 28202 Form 13F File Number: 28-14333 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on Behalf of Reporting Manager: Name: Thruston B. Morton III Title: Chief Investment Officer Phone: 704-333-8282 Signature, Place, and Date of Signing: /s/ Thruston B. Morton III Charlotte, North Carolina May 11, 2011 --------------------------- Report Type (Check only one.) [_] 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) [_] 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) [X] 13F COMBINATION REPORT. (Check here if a portion of the holdings of this reporting manager are reported in this report and a portion are reported by other reporting manager(s).) List of Other Managers Reporting for this Manager: Form 13F File Number Name -------------------- ----------------------------- 28-12210 Bares Capital Management 28-13598 Belltower Advisors LLC 28-12170 Energy Income Partners, LLC 28-14365 Gotham Asset Management, LLC 28-12517 Jay Jeffrey R FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 156 Form 13F Information Table Value Total: 167815(thousands) List of Other Included Managers: Provide a numbered list of name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report. No. Form 13F File Number Name --- -------------------- ---------------------- 1 N/A Caledonia Investments
COLUMN 1: COLUMN 2: COLUMN 3: COLUMN 4: COLUMN 5: COLUMN 6: COLUMN 7: COLUMN 8: VOTING AUTHORITY VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER ------------------- NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) PRN AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE --------------- ------------------ --------- -------- --------- --- ---- ---------- --------- ------ ------ ----- AMB PROPERTY CORP COM 00163T109 410 11400 SH SOLE 11400 ABBOTT LABS COM 002824100 2340 47700 SH SOLE 47700 ABITIBIBOWATER INC COM NEW 003687209 1083 40300 SH SOLE 40300 ACCELRYS INC COM 00430U103 932 116500 SH SOLE 116500 ALEXANDRIA REAL ESTATE EQ IN COM 015271109 390 5000 SH SOLE 5000 ALLIANCE HOLDINGS GP LP COM UNITS LP 01861G100 567 10800 SH SOLE 10800 ALTRIA GROUP INC COM 02209S103 2387 91700 SH SOLE 91700 AMAZON COM INC COM 023135106 703 3900 SH SOLE 3900 AMERICAN CAMPUS CMNTYS INC COM 024835100 376 11400 SH SOLE 11400 APPLE INC COM 037833100 662 1900 SH SOLE 1900 AUTOMATIC DATA PROCESSING IN COM 053015103 3063 59700 SH SOLE 59700 AVALONBAY CMNTYS INC COM 053484101 384 3200 SH SOLE 3200 BRE PROPERTIES INC CL A 05564E106 396 8400 SH SOLE 8400 BAKER HUGHES INC COM 057224107 925 12600 SH SOLE 12600 BARCLAYS BK PLC DJUBS CMDT ETN36 06738C778 1232 24000 SH SOLE 24000 BOSTON PROPERTIES INC COM 101121101 389 4100 SH SOLE 4100 BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 1322 20800 SH SOLE 20800 CME GROUP INC COM 12572Q105 2190 7261 SH OTHER 1 7261 CME GROUP INC COM 12572Q105 573 1900 SH SOLE 1900 CAMPBELL SOUP CO COM 134429109 2503 75600 SH SOLE 75600 CHARTER COMMUNICATIONS INC D CL A NEW 16117M305 663 13100 SH SOLE 13100 COCA COLA CO COM 191216100 2269 34200 SH SOLE 34200 COLGATE PALMOLIVE CO COM 194162103 1472 18225 SH OTHER 1 18225 COLGATE PALMOLIVE CO COM 194162103 3182 39400 SH SOLE 39400 CORPORATE EXECUTIVE BRD CO COM 21988R102 1120 27748 SH OTHER 1 27748 CORPORATE OFFICE PPTYS TR SH BEN INT 22002T108 376 10400 SH SOLE 10400 CROWN CASTLE INTL CORP COM 228227104 961 22591 SH SOLE 22591 DIGITAL RLTY TR INC COM 253868103 413 7100 SH SOLE 7100 DUNCAN ENERGY PARTNERS LP COM UNITS 265026104 660 16300 SH SOLE 16300 EL PASO PIPELINE PARTNERS L COM UNIT LPI 283702108 1330 36700 SH SOLE 36700 ELECTRO SCIENTIFIC INDS COM 285229100 734 42300 SH SOLE 42300 EMERSON ELEC CO COM 291011104 2752 47100 SH SOLE 47100 ENBRIDGE INC COM 29250N105 571 9300 SH SOLE 9300 ENBRIDGE ENERGY PARTNERS L P COM 29250R106 2036 31500 SH SOLE 31500 ENERGY TRANSFER EQUITY L P COM UT LTD 29273V100 1098 24400 SH SOLE 24400 ENTERPRISE PRODS PARTNERS L COM 293792107 2739 63600 SH SOLE 63600 ENZON PHARMACEUTICALS INC COM 293904108 796 73000 SH SOLE 73000 EQUITY LIFESTYLE PPTYS INC COM 29472R108 375 6500 SH SOLE 6500 EQUITY ONE COM 294752100 368 19600 SH SOLE 19600 EQUITY RESIDENTIAL SH BEN INT 29476L107 395 7000 SH SOLE 7000 ERIE INDTY CO CL A 29530P102 910 12800 SH SOLE 12800 EXTRA SPACE STORAGE INC COM 30225T102 427 20600 SH SOLE 20600 EXXON MOBIL CORP COM 30231G102 2524 30000 SH SOLE 30000 FIRST INDUSTRIAL REALTY TRUS COM 32054K103 461 38800 SH SOLE 38800 FLUOR CORP NEW COM 343412102 198 2690 SH OTHER 1 2690 GENERAL DYNAMICS CORP COM 369550108 1102 14400 SH SOLE 14400 GENESIS ENERGY L P UNIT LTD PARTN 371927104 552 19500 SH SOLE 19500 GLIMCHER RLTY TR SH BEN INT 379302102 385 41600 SH SOLE 41600 GOOGLE INC CL A 38259P508 2073 3536 SH OTHER 1 3536 GUIDANCE SOFTWARE INC COM 401692108 791 94388 SH SOLE 94388 HCP INC COM 40414L109 372 9800 SH SOLE 9800 HALLMARK FINL SVCS INC EC COM NEW 40624Q203 1844 220007 SH SOLE 220007 HERSHEY CO COM 427866108 2506 46100 SH SOLE 46100 HOLLY ENERGY PARTNERS L P COM UT LTD 435763107 597 10300 SH SOLE 10300 HONEYWELL INTL INC COM 438516106 2902 48600 SH SOLE 48600 HYATT HOTELS CORP COM CL A 448579102 344 8000 SH SOLE 8000 INTERACTIVE INTELLIGENCE INC COM 45839M103 961 24818 SH SOLE 24818 INTERNATIONAL BUSINESS MACHS COM 459200101 2903 17800 SH SOLE 17800 INTL FCSTONE INC COM ADDED 46116V105 552 21717 SH SOLE 21717 ISHARES INC MSCI AUSTRALIA 464286103 69 2600 SH SOLE 2600 ISHARES INC MSCI AUSTRIA INV 464286202 173 7400 SH SOLE 7400 ISHARES INC MSCI BELG INVEST 464286301 123 8700 SH SOLE 8700 ISHARES INC MSCI BRAZIL 464286400 248 3200 SH SOLE 3200 ISHARES INC MSCI CDA INDEX 464286509 309 9200 SH SOLE 9200 ISHARES INC MSCI CHILE INVES 464286640 162 2250 SH SOLE 2250 ISHARES INC MSCI BRIC INDX 464286657 158 3150 SH SOLE 3150 ISHARES INC MSCI SINGAPORE 464286673 51 3700 SH SOLE 3700 ISHARES INC MSCI UTD KINGD 464286699 640 35700 SH SOLE 35700 ISHARES INC MSCI FRANCE 464286707 240 8900 SH SOLE 8900 ISHARES INC MSCI TAIWAN 464286731 29 1950 SH SOLE 1950 ISHARES INC MSCI SWITZERLD 464286749 156 6150 SH SOLE 6150 ISHARES INC MSCI SWEDEN 464286756 228 6950 SH SOLE 6950 ISHARES INC MSCI SPAIN 464286764 127 3000 SH SOLE 3000 ISHARES INC MSCI S KOREA 464286772 39 600 SH SOLE 600
ISHARES INC MSCI GERMAN 464286806 157 6050 SH SOLE 6050 ISHARES INC MSCI NETHR INVES 464286814 129 5600 SH SOLE 5600 ISHARES INC MSCI MEX INVEST 464286822 160 2550 SH SOLE 2550 ISHARES INC MSCI MALAYSIA 464286830 168 11400 SH SOLE 11400 ISHARES INC MSCI JAPAN 464286848 1096 106300 SH SOLE 106300 ISHARES INC MSCI ITALY 464286855 211 11350 SH SOLE 11350 ISHARES INC MSCI HONG KONG 464286871 85 4500 SH SOLE 4500 ISHARES INC ISHARES TR FTSE CHINA25 IDX 464287184 310 6900 SH SOLE 6900 ISHARES INC ISHARES TR BARCLYS 40734 YR 464287440 1228 13200 SH SOLE 13200 ISHARES INC ISHARES TR MSCI EAFE INDEX 464287465 613 10200 SH SOLE 10200 ISHARES INC ISHARES TR DJ US REAL EST 464287739 1304 21950 SH SOLE 21950 ISHARES INC ISHARES TR S&P INDIA 50 464289529 13 450 SH SOLE 450 ISHARES INC ISHARES TR INDO INVS MRKT 46429B309 163 5450 SH SOLE 5450 ISHARES INC ISHARES TR MSCI RUSS INDX 46429B705 160 5200 SH SOLE 5200 JPMORGAN CHASE & CO ALERIAN ML ETN 46625H365 1283 33800 SH SOLE 33800 JACOBS ENGR GROUP INC DEL COM 469814107 806 15665 SH OTHER 1 15665 JOHNSON & JOHNSON COM 478160104 2560 43200 SH SOLE 43200 KELLOGG CO COM 487836108 2467 45700 SH SOLE 45700 KINDER MORGAN ENERGY PARTNER UT LTD PARTNER 494550106 2786 37600 SH SOLE 37600 LEAP WIRELESS INTL INC COM NEW 521863308 370 23900 SH SOLE 23900 LIBERTY GLOBAL INC COM SER A 530555101 1089 26300 SH SOLE 26300 LIBERTY MEDIA CORP NEW INT COM SER A 53071M104 683 42600 SH SOLE 42600 LIFE TECHNOLOGIES CORP COM 53217V109 691 13180 SH SOLE 13180 LOCKHEED MARTIN CORP COM 539830109 2910 36200 SH SOLE 36200 LOWES COS INC COM 548661107 978 37000 SH SOLE 37000 MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 2179 36400 SH SOLE 36400 MARKET VECTORS ETF TR RUSSIA ETF 57060U506 29 700 SH SOLE 700 MARKWEST ENERGY PARTNERS L P UNIT LTD PARTN 570759100 1425 29400 SH SOLE 29400 MARRIOTT INTL INC NEW CL A 571903202 313 8800 SH SOLE 8800 MEDTRONIC INC COM 585055106 243 6183 SH OTHER 1 6183 MEDTRONIC INC COM 585055106 2514 63900 SH SOLE 63900 MICROSOFT CORP COM 594918104 2901 114400 SH SOLE 114400 MINERALS TECHNOLOGIES INC COM 603158106 761 11100 SH SOLE 11100 MOVE INC COM COM 62458M108 760 317790 SH SOLE 317790 NATIONAL FUEL GAS CO N J COM 636180101 1062 14357 SH SOLE 14357 NATIONWIDE HEALTH PPTYS INC COM 638620104 430 10100 SH SOLE 10100 NIKE INC CL B 654106103 2104 27800 SH SOLE 27800 NORDION INC COM 65563C105 814 68900 SH SOLE 68900 NUSTAR ENERGY LP UNIT COM 67058H102 1378 20300 SH SOLE 20300 NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 525 14400 SH SOLE 14400 ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 1466 17800 SH SOLE 17800 PACKAGING CORP AMER COM 695156109 696 24100 SH SOLE 24100 PAYCHEX INC COM 704326107 3208 102300 SH SOLE 102300 PEPSICO INC COM 713448108 2583 40100 SH SOLE 40100 PHILIP MORRIS INTL INC COM 718172109 3111 47400 SH SOLE 47400 PIONEER NAT RES CO COM 723787107 1080 10600 SH SOLE 10600 PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN 726503105 2122 33300 SH SOLE 33300 POTASH CORP SASK INC COM 73755L107 1008 17100 SH SOLE 17100 QLT INC COM 746927102 767 110400 SH SOLE 110400 QUALCOMM INC COM 747525103 625 11400 SH SOLE 11400 REGENCY CTRS CORP COM 758849103 370 8500 SH SOLE 8500 RETAIL OPPORTUNITY INVTS COR COM 76131N101 401 36700 SH SOLE 36700 SLM CORP COM 78442P106 724 47300 SH SOLE 47300 SPDR S&P 500 ETF TR TR UNIT 78462F103 4095 30900 SH SOLE 30900 SPDR SERIES TRUST S&P METALS MNG 78464A755 312 4200 SH SOLE 4200 SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 942 11800 SH SOLE 11800 SELECT SECTOR SPDR TR SBI INT-UTILS 81369Y886 1295 40600 SH SOLE 40600 SHAW GROUP INC COM 820280105 1857 52446 SH OTHER 1 52446 SHERWIN WILLIAMS CO COM 824348106 2562 30500 SH SOLE 30500 SIX FLAGS ENTMT CORP NEW COM 83001A102 1750 24300 SH SOLE 24300 SOLAR CAP LTD COM 83413U100 310 13000 SH SOLE 13000 SPECTRA ENERGY PARTNERS LP COM 84756N109 532 16200 SH SOLE 16200 STANLEY BLACK & DECKER INC COM 854502101 2413 31500 SH SOLE 31500 SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 842 9700 SH SOLE 9700 TC PIPELINES LP UT COM LTD PRT 87233Q108 598 11500 SH SOLE 11500 TAUBMAN CTRS INC COM 876664103 386 7200 SH SOLE 7200 TEXAS INSTRS INC COM 882508104 2322 67200 SH SOLE 67200 3M CO COM 88579Y101 2468 26400 SH SOLE 26400 TRANSDIGM GROUP INC COM 893641100 788 9400 SH SOLE 9400 UNITED TECHNOLOGIES CORP COM 913017109 2548 30100 SH SOLE 30100 VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 1520 19000 SH SOLE 19000 VANGUARD INTL EQUITY INDEX F MSCI EMR MKT 922042858 127 2600 SH SOLE 2600 VODAFONE GROUP PLC NEW SPONS ADR NEW 92857W209 1239 43100 SH SOLE 43100 VORNADO RLTY TR SH BEN INT 929042109 376 4300 SH SOLE 4300 WAL MART STORES INC COM 931142103 1869 35900 SH SOLE 35900 WASHINGTON REAL ESTATE INVT SH BEN INT 939653101 364 11700 SH SOLE 11700 WELLCARE HEALTH PLANS INC COM 94946T106 772 18400 SH SOLE 18400 WELLS FARGO & CO NEW COM 949746101 840 26500 SH SOLE 26500 WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 611 17500 SH SOLE 17500 WILLIAMS COS INC DEL COM 969457100 1328 42600 SH SOLE 42600 WILLIAMS PARTNERS L P COM UNIT L P 96950F104 1513 29200 SH SOLE 29200 ZHONGPIN INC COM 98952K107 924 60845 SH OTHER 1 60845