Verger Capital Management provides portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers. The firm advises 1 private fund.
Verger Capital Management reports 10 clients. They include 7 other clients and 3 pooled investment vehicles. Of its assets, 99.6% ($3.27B across 10 accounts) are managed with discretion; $12.2M across 1 account is not.
| Client type | Clients | Assets |
|---|---|---|
| Pooled investment vehicles | 30% | 86% |
| Other | 70% | 14% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Pooled investment vehicles | 3 | $2.84B | 86.4% | $946M |
| Other | 7 | $447M | 13.6% | $63.8M |
| Total | 10 | $3.28B | 100% | $328M |
- Clients
- 3
- Regulatory AUM
- $2.84B
- AUM share
- 86.4%
- Avg. per client
- $946M
- Clients
- 7
- Regulatory AUM
- $447M
- AUM share
- 13.6%
- Avg. per client
- $63.8M
Total
- Clients
- 10
- Regulatory AUM
- $3.28B
- AUM share
- 100%
- Avg. per client
- $328M
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 0
- Private funds advised
- 1
Verger Capital Management is paid through a percentage of assets under management; its fees and minimums are set out in its brochures on the SEC website.
Wake Forest University owns 75% or more of Verger Capital Management. James Dunn is CEO; the leadership team includes President Craig Thomas, Chief Operating Officer Vicki West and Chief Financial Officer Jeffrey Manning. It has 18 employees, 7 of them in advisory roles.
Leadership
- James DunnChief Executive Officer
- Craig ThomasVice President (10/2013), Treasurer (10/2013), Chief Investment Officer (07/2023)
- Vicki WestVice President (10/2013), Secretary (10/2013), Chief Operating Officer(04/2014)
- Jeffrey ManningChief Financial Officer
- Scott ReckampChief Compliance Officer
- Michael CarterMember, Board of Managers
- Matthew CrawfordMember, Board of Managers
- John CulbertsonMember, Board of Managers
- Kelly DemeesterMember, Board of Managers
- Matthew KingMember, Board of Managers
- Erik LisherMember, Board of Managers
- James O'ConnellMember, Board of Managers
- Jacqueline TravisanoMember, Board of Managers
Staff
- 18 employees
- 7 in advisory functions
- 2 broker-dealer reps
- Owns 75% or more of Verger Capital Management LLC
Wake Forest University
Control person · since October 2013
- Owns 10% to 25% of Verger Capital Management LLC
James Dunn
Control person · since October 2013
Verger Capital Management’s regulatory assets grew 1.7× from $1.95B (April 2021) to $3.28B (July 2026); clients fell from 11 to 10 and employees rose from 15 to 18.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | StaffEmployees | Offices |
|---|---|---|---|---|
| Jul 2026July 2026 | $3.28B | 10 | 18 | 1 |
| Mar 2025March 2025 | $2.87B | 10 | 17 | 1 |
| Mar 2024March 2024 | $2.66B | 10 | 16 | 1 |
| Mar 2023March 2023 | $2.37B | 11 | 15 | 1 |
| Apr 2022April 2022 | $2.38B | 11 | 13 | 1 |
| Apr 2021April 2021 | $1.95B | 11 | 15 | 1 |
Besides its headquarters, Verger Capital Management has 0 offices, with 1 listed address in 1 state.
North Carolina · 1 listed address
- 751 W. Fourth St., Suite 410, Winston-SalemHQ
Contact and registration details
- Legal name
- Verger Capital Management LLC
- Headquarters
- 751 W. Fourth St., Suite 410, Winston-Salem, NC 27101
- Website
- vergercapital.com
- Phone
- 336-934-4101
- SEC file
- 801-79726
- Structure
- Delaware LLC
- Fiscal year end
- December
Verger Capital Management’s named custodians for separately managed accounts include The Northern Trust ($235M, 53%), Fidelity ($162M, 36%) and Morgan Stanley ($21.9M, 5%). Verger Capital Management has custody of $2.84B for 3 clients.
- FidelityFidelity Brokerage Services · Boston, MA · $162M36%
- The Northern TrustThe Northern Trust Company · Chicago, IL · $235M53%
- Charles SchwabCharles Schwab & Co., Inc. · San Francisco, CA · $12.2M3%
- Morgan StanleyMorgan Stanley Smith Barney LLC · New York, NY · $21.9M5%
- Fifth Third Bank, National AssociationFifth Third Bank, National Association · Cincinnati, OH · $15M3%
At year end, Verger Capital Management’s separately managed accounts were mostly in stocks (78%) and funds (16%). Its reported 13F holdings for the quarter ended 30 June 2026 total $341M across 13 positions; the largest are iShares TR (25.8%), iShares TR (17.2%) and State Str SPDR S&P 500 ETF T (14.5%).
What the accounts hold
- Stocks78%
- Funds16%
- Cash2%
- Other4%
- Private investment funds4%
Reported 13F holdings
- $341M
- Reported 13F value
- 13
- Positions
- 98.9%
- In the 10 largest
- +0.6%
- Value vs. prior quarter
- iShares TR · MSCI Acwi ETF25.8%
- iShares TR · Core US Aggbd ET17.2%
- State Str SPDR S&P 500 ETF T · TR Unit14.5%
- iShares TR · Core S&P500 ETF9.5%
- iShares TR · MSCI Eafe ETF9.1%
- iShares TR · Global Energ ETF8.2%
- iShares TR · MSCI Emg Mkt ETF5.0%
- iShares Gold TR · iShares New5.0%
- iShares TR · Tips BD ETF4.0%
- Vaneck ETF Trust · Gold Miners ETF0.7%
Together, the ten largest are 98.9% of reported value.
How many clients does Verger Capital Management have?
Verger Capital Management has 10 clients and manages $3.28 billion for them, as of July 2026. They include 7 other clients and 3 pooled investment vehicles.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 21 July 2026
What services does Verger Capital Management offer?
Verger Capital Management provides portfolio management for pooled vehicles, portfolio management for institutions and selecting other managers.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Verger Capital Management use?
Verger Capital Management’s separately managed account assets are held at The Northern Trust Company (Chicago, IL), with $235M, Fidelity Brokerage Services (Boston, MA), with $162M, Morgan Stanley Smith Barney LLC (New York, NY), with $21.9M, Fifth Third Bank, National Association (Cincinnati, OH), with $15M and Charles Schwab & Co., Inc. (San Francisco, CA), with $12.2M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 21 July 2026
How many financial advisors does Verger Capital Management have?
Verger Capital Management has 0 investment adviser representatives registered with state securities authorities, out of 18 employees, and 7 perform investment advisory functions. 2 employees are registered representatives of a broker-dealer and 0 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Verger Capital Management invest in?
At the end of its last fiscal year, Verger Capital Management’s separately managed accounts held 78% exchange-traded equities, 16% registered funds (mutual funds, ETFs, BDCs), 4% other and 2% cash and equivalents. The 4% other category is described as: Private Investment Funds. It advises 1 private fund.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Verger Capital Management?
Verger Capital Management’s direct owners are Wake Forest University (75% or more) and James Dunn (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 21 July 2026
How does Verger Capital Management get paid?
Verger Capital Management is paid through a percentage of assets under management. Its Form ADV lists no commissions or performance-based fees among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Verger Capital Management?
Verger Capital Management’s main office is at 751 W. Fourth St., Suite 410, Winston-Salem, NC 27101. Its phone number is 336-934-4101. Its website is vergercapital.com.