Total AUM & Wealth Overview
Winthorpe III Family Office · All Entities Consolidated · April 29, 2025
CONSOLIDATED
Total AUM
$487.3M
▲ $65.5M (+15.5%) vs 2024
LIQUID
Liquid Assets
$89.2M
18.3% of total AUM
ILLIQUID
Illiquid Assets
$398.1M
81.7% of total AUM
After-Tax ROI (2025)
12.3%
▲ vs 8.7% benchmark
Capital Preservation Rate
98.7%
↑ 0.4pp YoY · target ≥95%
Wealth Velocity
+$5.5M
avg monthly AUM growth
Net Worth Trend — 2020 to 2025
Total AUM vs Liquid assets · annual snapshot
Total AUM
Liquid Assets
AUM Target ($500M)
Asset Allocation
By asset class · current period
Liquid vs Illiquid Breakdown
Detailed asset classification
| Asset Class | Value ($M) | % AUM | Liquidity |
|---|---|---|---|
| Public Equities | $127.4M | 26.1% | Liquid |
| Money Market / Cash | $42.8M | 8.8% | Liquid |
| Hedge Funds | $34.6M | 7.1% | Semi-Liquid |
| Private Equity | $168.4M | 34.6% | Illiquid |
| Real Estate | $112.8M | 23.2% | Illiquid |
| Venture Capital | $30.2M | 6.2% | Illiquid |
| Total AUM | $487.3M | 100% | — |
Concentration Risk
Single-entity exposure limits · Family Office policy
Investment Performance — IRR / MOIC Analysis
Private Equity · Venture Capital · Public Markets · Foundation Endowment
Total Invested (Committed)
$205.0M
across 8 active funds
Portfolio Avg IRR
18.7%
▲ vs 15% target hurdle
Weighted Avg MOIC
2.4×
above 2.0× benchmark
Best Performer
3.4×
a16z Fund V · IRR 32.1%
Valentine Fdn Endowment
$28.5M
8.2% return · above 5% rule
Private Equity & Venture Capital Holdings
IRR / MOIC / NAV by fund · as of Q1 2025
| Fund Name | Type | Vintage | Committed | NAV | IRR | MOIC | Capital Call | Status |
|---|
IRR vs Benchmark — By Fund
Red dashed = 15% target hurdle rate
Billy Ray Valentine Foundation
501(c)(3) Endowment · 5% Annual Distribution Rule
Real Estate Portfolio & 1031 Exchange Tracker
1031 ID Deadline: Apr 14, 2025 — 16 Days Remaining
TOTAL RE
Total RE Portfolio Value
$112.8M
4 properties · 2 structures
Aggregate Cost Basis
$62.5M
blended avg 8.3 years hold
Unrealized Gain (Total)
$50.3M
80.5% appreciation
DEFERRED
1031 Deferred Tax Liability
$24.7M
Glen Cove + NNN planned
Property Holdings — 1 Mansion Drive & Portfolio
FMV · Cost Basis · Gain · Tax Strategy
| Property | Type | FMV | Cost Basis | Unrealized Gain | Hold (Yrs) | Monthly Income | Strategy |
|---|
1031 Exchange & DST Tracker
IRS §1031 Tax-Deferred Exchange Timelines · 45-day ID & 180-day Replacement Rules
RE Value by Property
FMV vs Cost Basis comparison
FMV
Cost Basis
Unrealized Gain
DST Portfolio Holdings
Delaware Statutory Trust positions
Liquidity Forecast & Capital Event Scheduler
12-Month Rolling Forecast · Capital Calls · Distributions
AVAILABLE
Available Liquidity
$89.2M
cash + public mkts
Monthly Burn (Estate)
$485K
1 Mansion Dr + staff + ops
90 DAYS
Capital Calls Due
$2.4M
3 funds · 90-day window
INCOMING
Expected Distributions
$8.7M
3 events · 90-day window
Net Liquidity Runway
14.3 mo
at current burn rate
12-Month Cash Flow Forecast — May 2025 to Apr 2026
Green = net positive month · Red = net outflow · Line = cumulative position
Net Positive Month
Net Outflow Month
Cumulative Net Position
Upcoming Capital Calls
Committed capital draw notices — next 90 days
Pending Distributions
Expected proceeds from private investments
Tax Position & Planning — 2025 Fiscal Year
K-1 Status: 12 of 20 received · Filing Extensions Pending
EST.
Est. Federal Tax Liability
$18.2M
effective rate ~37.2%
NY State + City
$5.2M
$3.8M state + $1.4M city
1031 Deferred Gains
$24.7M
contingent tax liability
OPPORTUNITY
TLH Opportunity
$2.8M
3 positions · harvest now
2025 Tax Liability Breakdown
Federal, State, City, Deferred · Est. components
K-1 Receipt Tracker
Schedule K-1 status by entity · 2024 tax year
RECEIVED
12
OUTSTANDING
8
TOTAL
20
Tax-Loss Harvesting Opportunities
Public equity positions with unrealized losses · act before year-end
Filing Deadlines & M-1/M-2 Status
Entity returns · individual · foundation · extensions
Family Governance & Lifestyle Operations
1 Mansion Drive, Glen Cove NY · Billy Ray Valentine Foundation · Estate Management
YTD Estate Spend
$3.27M
vs $3.51M full-year budget
Budget Variance
-$62K
T&E 13.8% over — watch
Foundation Grants YTD
$987K
69.3% of $1.425M target
Household Staff
14
FTE · Glen Cove estate
Budget vs Actuals — Estate & Lifestyle
1 Mansion Drive, Glen Cove · All categories YTD
Budget
Actual
Over Budget
Billy Ray Valentine Foundation
Annual grant activity · 5% distribution compliance
Governance Calendar & Family Events
Investment committee · family council · foundation board · key deadlines
Operational Health — Vendors · Projects · Compliance
Legal · Tax · Property Mgmt · Advisory · Custody · Risk
Avg Vendor Score
92.0
6 vendors · target ≥90
Open Projects
6
2 critical · 2 high priority
Pending Items (Vendors)
15
legal & tax backlog
Next Governance Event
16 days
1031 ID Deadline — Apr 14
Vendor & Advisor Performance Scorecard
Quarterly review · SLA compliance · open item count
Open Projects & Action Items
By priority · owner · due date
Compliance & Regulatory Calendar
Filing deadlines · reporting obligations · governance events