Baylor’s Chief Investment Officer, Dave Morehead, Named 2025 Endowment/Foundation CIO of the Year by Institutional Investor

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Dave Morehead, C.F.A., chief investment officer at Baylor University, has been named the 2025 Endowment/Foundation Chief Investment Officer of the Year by Institutional Investor. Morehead was recognized for providing exceptional leadership during volatile times while also positioning Baylor’s endowment among the nation’s elite colleges and universities.

With Morehead at the helm, Baylor’s five-year endowment returns have rivaled only those of Ivy League institutions – historically the gold standard in higher education returns – drawing national attention after an article in The Wall Street Journal reported on Baylor’s success.

“I am honored to be named Chief Investment Officer of the Year by Institutional Investor, but it would not be possible without our stellar investment team of Baylor alums,” Morehead said. “We continue to work diligently so that, every year, we can provide more resources for Baylor University. We all want the Baylor Board of Regents, President Linda Livingstone and the entire University Administration to have the resources they need for Baylor to accomplish its mission.”

Morehead came to Baylor in 2011, and he has served as Chief Investment Officer for more than five years. Previously, he was a senior portfolio manager at Lotsoff Capital Management, a partner at Highview Capital Management and a portfolio manager at Ritchie Capital Management, among other positions in the banking and financial sectors. From 2019-2024, Morehead co-taught practicum classes in the Hankamer School of Business, and he holds the Chartered Financial Analyst (CFA) designation, a globally recognized and respected credential.

In selecting Morehead as its Endowment/Foundation Chief Investment Officer of the Year, Institutional Investor noted his innovative, top-down approach that challenges conventional thinking, and a portfolio built on highly differentiated perspectives and strategic partnerships. In addition, Morehead was commended for his support of young professionals and a clear commitment to Baylor’s mission and its access and affordability aims.

“Dave and his investment team have provided steady and visionary management of Baylor’s endowment for a number of years, and it is incredibly gratifying to see him recognized by his peers with this highest honor,” said Jay A. Brown, B.B.A. ’95, of Houston, and chair of the Baylor Board of Regents Finance and Facilities Committee. “Baylor is blessed to have Dave Morehead as CIO, and because of his hard work, our University is well-positioned to support students, faculty and staff now and into the future.”

Through careful management and generous gifts from the Baylor Family and friends, Baylor’s endowment exceeds $2.2 billion, reaching an all-time high in September 2025. Last year, Baylor’s endowment distributed $98 million for scholarships, professorships, academic programs and other University initiatives, and it covers about 10% of the University’s $995.8 million operating budget.

In 2024, Baylor’s investment team, which consists entirely of Baylor graduates except Morehead, was a finalist for Team of the Year by The Allocator Prizes. Since 2020, the investment team has generated more than $1 billion of gains to Baylor’s endowment portfolio.

“A growing endowment is critical to Baylor’s continued fulfillment of its distinctive mission as a preeminent Christian research university,” said Curtis Reynolds, Baylor’s Vice President of Business and Finance and Chief Financial Officer. “Alongside other philanthropic giving, endowed funds foster the long-term affordability and educational excellence essential to attracting talented students in the increasingly competitive higher education marketplace.”

ABOUT BAYLOR UNIVERSITY

Baylor University is a private Christian University and a nationally ranked Research 1 institution. The University provides a vibrant campus community for more than 20,000 students by blending interdisciplinary research with an international reputation for educational excellence and a faculty commitment to teaching and scholarship. Chartered in 1845 by the Republic of Texas through the efforts of Baptist pioneers, Baylor is the oldest continually operating University in Texas. Located in Waco, Baylor welcomes students from all 50 states and more than 100 countries to study a broad range of degrees among its 12 nationally recognized academic divisions. Learn more about Baylor University at www.baylor.edu. 

ABOUT INSTITUTIONAL INVESTOR

Institutional Investor connects the most important and impactful financial market participants: those who allocate and manage large volumes of capital, and those whose investment decisions make a significant impact on markets. By sharing knowledge and making connections, our community creates tangible value in people's lives around the globe. For nearly 60 years, Institutional Investor has created a community that shapes asset management and the world's financial markets. Since the beginning, we've taken an active and leading role in convening the investment industry to provide the insight, community and partnership required to evolve and stay relevant.