<SEC-DOCUMENT>0001193125-11-308603.txt : 20111114 <SEC-HEADER>0001193125-11-308603.hdr.sgml : 20111111 <ACCEPTANCE-DATETIME>20111114062433 ACCESSION NUMBER: 0001193125-11-308603 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110930 FILED AS OF DATE: 20111114 DATE AS OF CHANGE: 20111114 EFFECTIVENESS DATE: 20111114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Global Endowment Management, LP CENTRAL INDEX KEY: 0001512237 IRS NUMBER: 651297607 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-14333 FILM NUMBER: 111197438 BUSINESS ADDRESS: STREET 1: 100 N. TRYON ST. CITY: CHARLOTTE STATE: NC ZIP: 28202 BUSINESS PHONE: 704-333-8282 MAIL ADDRESS: STREET 1: 100 N. TRYON ST. CITY: CHARLOTTE STATE: NC ZIP: 28202 </SEC-HEADER> <DOCUMENT> <TYPE>13F-HR <SEQUENCE>1 <FILENAME>d255261d13fhr.txt <DESCRIPTION>FORM 13-F <TEXT> <PAGE> ================================================================================ UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F Cover Page Report for the Calendar Year or Quarter Ended: September 30, 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: 550 S. Tryon St.; Suite 3500, 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 November 14, 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 28-12170 Energy Income Partners, LLC 28-14365 Gotham Asset Management, LLC 28-12517 Jay Jeffrey R ================================================================================ <PAGE> FORM 13F SUMMARY PAGE Report Summary: Number of Other Included Managers: 1 Form 13F Information Table Entry Total: 186 Form 13F Information Table Value Total: 245112 (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 <PAGE> <TABLE> <CAPTION> COLUMN 1: COLUMN 2: COLUMN 3: COLUMN 4: COLUMN 5: COLUMN 6: COLUMN 7: COLUMN 8: --------- ---------------- --------- --------- --------- ---------- --------- ------------------- VOTING AUTHORITY ------------------- SHRS OR VALUE PRN SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- ---------------- --------- --------- --------- --- ---- ---------- --------- ------ ------ ----- <S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> ABBOTT LABS COM 002824100 2400 46930 SH SOLE 46930 ABITIBIBOWATER INC COM NEW 003687209 989 65900 SH SOLE 65900 ACADIA RLTY TR COM SH BEN INT 004239109 743 39739 SH SOLE 39739 ACCELRYS INC COM 00430U103 1004 165700 SH SOLE 165700 ACCENTURE PLC IRELAND SHS CLASS A G1151C101 27 510 SH SOLE 510 ADVANCE AUTO PARTS INC COM 00751Y106 831 14300 SH SOLE 14300 ALEXANDRIA REAL ESTATE EQ IN COM 015271109 766 12475 SH SOLE 12475 ALLIANCE HOLDINGS GP LP COM UNITS LP 01861G100 575 13060 SH SOLE 13060 ALTRIA GROUP INC COM 02209S103 2161 80600 SH SOLE 80600 AMERICAN ASSETS TR INC COM 024013104 751 41854 SH SOLE 41854 AMERICAN CAMPUS CMNTYS INC COM 024835100 774 20791 SH SOLE 20791 AMPHENOL CORP NEW CL A 032095101 18 450 SH SOLE 450 ANALOG DEVICES INC COM 032654105 19 620 SH SOLE 620 ANNALY CAP MGMT INC COM 035710409 5996 360550 SH SOLE 360550 AON CORP COM 037389103 613 14600 SH SOLE 14600 APARTMENT INVT & MGMT CO CL A 03748R101 714 32287 SH SOLE 32287 APPLE INC COM 037833100 579 1520 SH SOLE 1520 AUTOMATIC DATA PROCESSING IN COM 053015103 2920 61920 SH SOLE 61920 AUTOZONE INC COM 053332102 32 100 SH SOLE 100 AVALONBAY CMNTYS INC COM 053484101 744 6526 SH SOLE 6526 BAXTER INTL INC COM 071813109 2617 46610 SH SOLE 46610 BECTON DICKINSON & CO COM 075887109 1760 24000 SH SOLE 24000 BERKSHIRE HATHAWAY INC DEL CL B NEW 084670702 17987 253200 SH SOLE 253200 BMC SOFTWARE INC COM 055921100 19 500 SH SOLE 500 BOARDWALK PIPELINE PARTNERS UT LTD PARTNER 096627104 810 31580 SH SOLE 31580 BOSTON PROPERTIES INC COM 101121101 733 8231 SH SOLE 8231 BROOKFIELD OFFICE PPTYS INC COM 112900105 713 51796 SH SOLE 51796 BUCKEYE PARTNERS L P UNIT LTD PARTN 118230101 2188 35000 SH SOLE 35000 CALPINE CORP COM NEW 131347304 976 69300 SH SOLE 69300 CAMPBELL SOUP CO COM 134429109 2609 80600 SH SOLE 80600 CARTER INC COM 146229109 651 21300 SH SOLE 21300 CLEARWATER PAPER CORP COM 18538R103 483 14200 SH SOLE 14200 CLOROX CO DEL COM 189054109 2249 33900 SH SOLE 33900 CME GROUP INC COM 12572Q105 382 1550 SH SOLE 1550 CME GROUP INC COM 12572Q105 1789 7261 SH NONE 1 7261 COLGATE PALMOLIVE CO COM 194162103 3630 40930 SH SOLE 40930 COLGATE PALMOLIVE CO COM 194162103 1663 18749 SH NONE 1 18749 CORPORATE EXECUTIVE BRD CO COM 21988R102 827 27748 SH NONE 1 27748 BARD C R INC COM 067383109 23 260 SH SOLE 260 CROWN HOLDINGS INC COM 228368106 20 650 SH SOLE 650 CTRIP COM INTL LTD AMERICAN DEP SHS 22943F100 779 24227 SH NONE 1 24227 DOLBY LABORATORIES INC COM 25659T107 17 630 SH SOLE 630 DOUGLAS EMMETT INC COM 25960P109 766 44767 SH SOLE 44767 </TABLE> <PAGE> <TABLE> <CAPTION> COLUMN 1: COLUMN 2: COLUMN 3: COLUMN 4: COLUMN 5: COLUMN 6: COLUMN 7: COLUMN 8: --------- --------------- --------- --------- --------- ---------- --------- ------------------- VOTING AUTHORITY ------------------- SHRS OR VALUE PRN SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- --------------- --------- --------- --------- --- ---- ---------- --------- ------ ------ ----- <S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> DUPONT FABROS TECHNOLOGY INC COM 26613Q106 735 37328 SH SOLE 37328 EMERSON ELEC CO COM 291011104 2046 49530 SH SOLE 49530 ENBRIDGE ENERGY MANAGEMENT L UNITS LLI 29250X103 1453 52854 SH SOLE 52854 ENBRIDGE INC COM 29250N105 642 20120 SH SOLE 20120 ENDO PHARMACEUTICALS HLDGS I COM 29264F205 16 570 SH SOLE 570 SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 926 15800 SH SOLE 15800 ENERGY TRANSFER EQUITY L P COM UT LTD 29273V100 506 14555 SH SOLE 14555 ENERGY TRANSFER PRTNRS L P UNIT LTD PARTN 29273R109 2085 50850 SH SOLE 50850 ENTERPRISE PRODS PARTNERS L COM 293792107 3655 91030 SH SOLE 91030 EQUITY LIFESTYLE PPTYS INC COM 29472R108 727 11592 SH SOLE 11592 EXPEDIA INC DEL COM 30212P105 523 20325 SH NONE 1 20325 EXPRESS SCRIPTS INC COM 302182100 18 480 SH SOLE 480 EXTRA SPACE STORAGE INC COM 30225T102 724 38871 SH SOLE 38871 FIRST INDUSTRIAL REALTY TRUS COM 32054K103 740 92456 SH SOLE 92456 FLUOR CORP NEW COM 343412102 17 360 SH SOLE 360 F M C CORP COM NEW 302491303 23 330 SH SOLE 330 GENERAL DYNAMICS CORP COM 369550108 876 15400 SH SOLE 15400 GLIMCHER RLTY TR SH BEN INT 379302102 710 100280 SH SOLE 100280 GOOGLE INC CL A 38259P508 1819 3536 SH NONE 1 3536 GREENLIGHT CAPITAL RE LTD CLASS A G4095J109 249 12000 SH SOLE 12000 BLOCK H & R INC COM 093671105 764 57400 SH SOLE 57400 HALLMARK FINL SVCS INC EC COM NEW 40624Q203 1450 196807 SH SOLE 196807 HATTERAS FINL CORP COM 41902R103 6275 249400 SH SOLE 249400 HEALTHCARE RLTY TR COM 421946104 759 45053 SH SOLE 45053 HERSHEY CO COM 427866108 3232 54560 SH SOLE 54560 HEWLETT PACKARD CO COM 428236103 15 650 SH SOLE 650 HONEYWELL INTL INC COM 438516106 1936 44100 SH SOLE 44100 HOST HOTELS & RESORTS INC COM 44107P104 797 72829 SH SOLE 72829 INTERACTIVE INTELLIGENCE GRO COM ADDED 45841V109 709 26118 SH SOLE 26118 INTERNATIONAL BUSINESS MACHS COM 459200101 3466 19800 SH SOLE 19800 INTL FCSTONE INC COM 46116V105 621 29917 SH SOLE 29917 INTERNATIONAL FLAVORS&FRAGRA COM 459506101 22 390 SH SOLE 390 ISHARES INC ISHARES TR BARCLYS 40734 YR 464287440 998 9500 SH SOLE 9500 ISHARES TR BARCLYS MBS BD 464288588 395 3650 SH SOLE 3650 ISHARES INC ISHARES TR FTSE CHINA25 IDX 464287184 222 7190 SH SOLE 7190 ISHARES TR IBOXX INV CPBD 464287242 2382 21200 SH SOLE 21200 ISHARES TR MSCI PERU CAP 464289842 98 2800 SH SOLE 2800 ISHARES INC MSCI AUSTRALIA 464286103 62 3090 SH SOLE 3090 ISHARES INC MSCI AUSTRIA INV 464286202 208 13830 SH SOLE 13830 ISHARES INC MSCI BELG INVEST 464286301 155 14060 SH SOLE 14060 ISHARES INC MSCI BRAZIL 464286400 174 3340 SH SOLE 3340 ISHARES INC MSCI BRIC INDX 464286657 168 4950 SH SOLE 4950 ISHARES INC MSCI CDA INDEX 464286509 380 14890 SH SOLE 14890 ISHARES INC MSCI CHILE INVES 464286640 124 2340 SH SOLE 2340 ISHARES INC MSCI FRANCE 464286707 274 14370 SH SOLE 14370 ISHARES INC MSCI GERMAN 464286806 176 9630 SH SOLE 9630 ISHARES INC MSCI HONG KONG 464286871 103 7190 SH SOLE 7190 </TABLE> <PAGE> <TABLE> <CAPTION> COLUMN 1: COLUMN 2: COLUMN 3: COLUMN 4: COLUMN 5: COLUMN 6: COLUMN 7: COLUMN 8: --------- --------------- --------- --------- --------- ---------- --------- ------------------- VOTING AUTHORITY ------------------- SHRS OR VALUE PRN SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER TITLE OF CLASS CUSIP (X$1000) AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- --------------- --------- --------- --------- --- ---- ---------- --------- ------ ------ ----- <S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> ISHARES INC ISHARES TR INDO INVS MRKT 46429B309 225 8700 SH SOLE 8700 ISHARES INC MSCI ITALY 464286855 222 18690 SH SOLE 18690 ISHARES INC MSCI JAPAN 464286848 195 20600 SH SOLE 20600 ISHARES INC MSCI MALAYSIA 464286830 145 11870 SH SOLE 11870 ISHARES INC MSCI MEX INVEST 464286822 130 2660 SH SOLE 2660 ISHARES INC MSCI NETHR INVES 464286814 148 9060 SH SOLE 9060 ISHARES INC ISHARES TR MSCI RUSS INDX 46429B705 362 19200 SH SOLE 19200 ISHARES INC MSCI SINGAPORE 464286673 65 5940 SH SOLE 5940 ISHARES INC MSCI S KOREA 464286772 29 620 SH SOLE 620 ISHARES INC MSCI SPAIN 464286764 162 5000 SH SOLE 5000 ISHARES INC MSCI SWEDEN 464286756 255 11090 SH SOLE 11090 ISHARES INC MSCI SWITZERLD 464286749 218 10050 SH SOLE 10050 ISHARES INC MSCI TAIWAN 464286731 24 2030 SH SOLE 2030 ISHARES INC MSCI UTD KINGD 464286699 858 58120 SH SOLE 58120 ISHARES INC ISHARES TR S&P INDIA 50 464289529 99 4450 SH SOLE 4450 ITT CORP NEW COM 450911102 1983 47210 SH SOLE 47210 JACOBS ENGR GROUP INC DEL COM 469814107 506 15665 SH NONE 1 15665 JOHNSON & JOHNSON COM 478160104 2644 41500 SH SOLE 41500 KELLOGG CO COM 487836108 2528 47530 SH SOLE 47530 KINDER MORGAN INC DEL COM 49456B101 590 22795 SH SOLE 22795 KINDER MORGAN MANAGEMENT LLC SHS 49455U100 2980 50775 SH SOLE 50775 LAMAR ADVERTISING CO CL A 512815101 681 40000 SH SOLE 40000 LASALLE HOTEL PPTYS COM SH BEN INT 517942108 835 43468 SH SOLE 43468 LEAP WIRELESS INTL INC COM NEW 521863308 175 25300 SH SOLE 25300 LIBERTY GLOBAL INC COM SER A 530555101 879 24300 SH SOLE 24300 LIFE TECHNOLOGIES CORP COM 53217V109 752 19580 SH SOLE 19580 MACQUARIE INFRASTR CO LLC MEMBERSHIP INT 55608B105 1037 46200 SH SOLE 46200 MAGELLAN MIDSTREAM PRTNRS LP COM UNIT RP LP 559080106 2418 40034 SH SOLE 40034 MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 32518 589200 SH SOLE 589200 MARKET VECTORS ETF TR RUSSIA ETF 57060U506 89 3500 SH SOLE 3500 MASTERCARD INC CL A CL A 57636Q104 32 100 SH SOLE 100 MATTEL INC COM 577081102 2773 107110 SH SOLE 107110 MCDONALDS CORP COM 580135101 2570 29270 SH SOLE 29270 MEDQUIST HLDGS INC COM 58506K102 294 38900 SH SOLE 38900 MI DEVS INC CL A SUB VTG 55304X104 611 23000 SH SOLE 23000 MICROSOFT CORP COM 594918104 4577 183900 SH SOLE 183900 NATIONAL FUEL GAS CO N J COM 636180101 748 15357 SH SOLE 15357 NORDION INC COM 65563C105 806 91400 SH SOLE 91400 NUSTAR ENERGY LP UNIT COM 67058H102 1192 22795 SH SOLE 22795 NUSTAR GP HOLDINGS LLC UNIT RESTG LLC 67059L102 558 18190 SH SOLE 18190 ONEOK INC NEW COM 682680103 580 8785 SH SOLE 8785 ONEOK PARTNERS LP UNIT LTD PARTN 68268N103 1747 37470 SH SOLE 37470 PENNYMAC MTG INVT TR COM 70931T103 254 16000 SH SOLE 16000 PEPSICO INC COM 713448108 1869 30200 SH SOLE 30200 PHILIP MORRIS INTL INC COM 718172109 3019 48400 SH SOLE 48400 PLAINS ALL AMERN PIPELINE UNIT LTD PARTN 726503105 2201 37350 SH SOLE 37350 POST PPTYS INC COM 737464107 702 20204 SH SOLE 20204 </TABLE> <PAGE> <TABLE> <CAPTION> COLUMN 1: COLUMN 2: COLUMN 3: COLUMN 4: COLUMN 5: COLUMN 6: COLUMN 7: COLUMN 8: --------- ----------- --------- --------- --------- ---------- --------- ------------------- VOTING AUTHORITY ------------------- SHRS OR TITLE OF VALUE PRN SH/ PUT/ INVESTMENT OTHER NAME OF ISSUER CLASS CUSIP (X$1000) AMT PRN CALL DISCRETION MANAGERS SOLE SHARED NONE -------------- ----------- --------- --------- --------- --- ---- ---------- --------- ------ ------ ----- <S> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> <C> POTASH CORP SASK INC COM 73755L107 722 16700 SH SOLE 16700 PROLOGIS INC COM 74340W103 718 29596 SH SOLE 29596 REGENCY ENERGY PARTNERS L P COM UNITS L 75885Y107 1163 51910 SH SOLE 51910 RETAIL OPPORTUNITY INVTS COR COM 76131N101 765 69085 SH SOLE 69085 RLJ LODGING TRUST COM 74965L101 750 58763 SH SOLE 58763 ROCKWELL AUTOMATION INC COM 773903109 1588 28360 SH SOLE 28360 ROSS STORES INC COM 778296103 30 380 SH SOLE 380 SAIC INC COM 78390X101 18 1500 SH SOLE 1500 SANDERSON FARMS INC COM 800013104 727 15300 SH SOLE 15300 SCHWAB CHARLES CORP NEW COM 808513105 569 50500 SH SOLE 50500 SCRIPPS NETWORKS INTERACT IN CL A COM 811065101 20 550 SH SOLE 550 SHAW GROUP INC COM 820280105 1371 63080 SH NONE 1 63080 SHERWIN WILLIAMS CO COM 824348106 2325 31280 SH SOLE 31280 SIMON PPTY GROUP INC NEW COM 828806109 760 6908 SH SOLE 6908 SIX FLAGS ENTMT CORP NEW COM 83001A102 926 33400 SH SOLE 33400 SL GREEN RLTY CORP COM 78440X101 716 12307 SH SOLE 12307 SOLAR CAP LTD COM 83413U100 489 24300 SH SOLE 24300 SPDR SERIES TRUST S&P METALS MNG 78464A755 269 6000 SH SOLE 6000 SPDR S&P 500 ETF TR TR UNIT 78462F103 3594 31760 SH SOLE 31760 SPECTRA ENERGY PARTNERS LP COM 84756N109 583 20655 SH SOLE 20655 STRYKER CORP COM 863667101 20 430 SH SOLE 430 SUNOCO LOGISTICS PRTNRS L P COM UNITS 86764L108 871 9842 SH SOLE 9842 SUPPORT COM INC COM 86858W101 592 298900 SH SOLE 298900 SYSCO CORP COM 871829107 1769 68300 SH SOLE 68300 TC PIPELINES LP UT COM LTD PRT 87233Q108 691 15770 SH SOLE 15770 TEXAS INSTRS INC COM 882508104 2261 84840 SH SOLE 84840 TIFFANY & CO NEW COM 886547108 451 7415 SH NONE 1 7415 TJX COS INC NEW COM 872540109 32 570 SH SOLE 570 TRANSDIGM GROUP INC COM 893641100 621 7600 SH SOLE 7600 TWO HBRS INVT CORP COM 90187B101 6701 758911 SH SOLE 758911 UDR INC COM 902653104 718 32435 SH SOLE 32435 UNITED PARCEL SERVICE INC CL B 911312106 808 12800 SH SOLE 12800 UNITED TECHNOLOGIES CORP COM 913017109 2342 33280 SH SOLE 33280 SELECT SECTOR SPDR TR SBI INT- UTILS 81369Y886 2523 75000 SH SOLE 75000 VANGUARD BD INDEX FD INC TOTAL BND MRKT 921937835 8353 99750 SH SOLE 99750 VARIAN MED SYS INC COM 92220P105 19 370 SH SOLE 370 WAL MART STORES INC COM 931142103 1925 37100 SH SOLE 37100 WATERS CORP COM 941848103 21 280 SH SOLE 280 WELLS FARGO & CO NEW COM 949746101 890 36900 SH SOLE 36900 WESTERN GAS PARTNERS LP COM UNIT LP IN 958254104 651 19265 SH SOLE 19265 WESTERN UN CO COM 959802109 18 1180 SH SOLE 1180 WILLIAMS COS INC DEL COM 969457100 1113 45720 SH SOLE 45720 WILLIAMS PARTNERS L P COM UNIT L P 96950F104 1608 29650 SH SOLE 29650 XUEDA ED GROUP SPONSORED ADR 98418W109 58 21244 SH NONE 1 21244 ZHONGPIN INC COM 98952K107 652 85747 SH NONE 1 85747 SENSATA TECHNOLOGIES HLDG BV SHS N7902X106 497 18800 SH SOLE 18800 BROOKFIELD INFRAST PARTNERS LP INT UNIT G16252101 650 26700 SH SOLE 26700 ISHARES TR MSCI EMERG MKT 464287234 396 11300 SH SOLE 11300 VALEANT PHARMACEUTICALS INTL COM 91911K102 676 18200 SH SOLE 18200 </TABLE> </TEXT> </DOCUMENT> </SEC-DOCUMENT>