Financial Statement
As of 10/09/2026
Gross FMV
$245,397,000
Gross Debt
$104,335,700
Our Net Equity (FMV)
$130,405,220
Our Invested Capital
$59,435,000
Cash & Brokerage
$75,981,000
Active Deals
35
Entity Summary — Click to View Statement
| Entity | Deals | Invested Capital | Gross FMV | Gross Debt | Our FMV | Our Debt | Our Net Equity |
|---|---|---|---|---|---|---|---|
| MH | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Gift Trust | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Legacy Trust | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| NWLP | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Harbor LP | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Harbor Eq | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Holdings | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Credit | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Growth Trust | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Foundation | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Roth IRA | 0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other | 35 | $59,435,000 | $245,397,000 | $104,335,700 | $225,815,400 | $95,410,180 | $130,405,220 |
| TOTAL | 35 | $59,435,000 | $245,397,000 | $104,335,700 | $225,815,400 | $95,410,180 | $130,405,220 |
Cash Accounts
| Institution | Account | Balance |
|---|---|---|
| Northwind Bank | Northwind Family LP — Operating | $1,920,000 |
| Northwind Bank | Northwind Family LP — Money Market | $3,410,000 |
| Carolina Mutual | Harbor LP — Operating | $824,000 |
| Northwind Bank | Northwind Holdings LLC — Operating | $412,000 |
| Northwind Bank | Northwind Credit LLC — Lending account | $1,105,000 |
| Lakeside Advisors | Northwind Growth Trust — Cash sweep | $638,000 |
| Carolina Mutual | Northwind Foundation — Foundation operating | $1,247,000 |
| Lakeside Advisors | Northwind Roth IRA — Roth cash | $95,000 |
| Total Cash | $9,651,000 | |
Brokerage Accounts
| Account | Securities | Cash | Margin |
|---|---|---|---|
| Northwind Family LP — Brokerage | $41,200,000 | $1,120,000 | $0 |
| Northwind Growth Trust — Brokerage | $14,800,000 | $310,000 | $0 |
| Northwind Holdings LLC — Margin | $8,900,000 | -$2,100,000 | $2,100,000 |
| Total | $66,330,000 | $2,100,000 |
MORGAN HALE
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
Ownership in Sub-Entities
Click entity name to view its deals
| Entity | Own % | Entity Deals | Entity Net Equity | Our Share |
|---|---|---|---|---|
| NWLP (incl. sub-entities) | 10% | 0 | $0 | $0 |
| Total Ownership Stakes | $0 | |||
Total Net Worth — MH (Direct + Sub-Entities)
| Direct Holdings Net Equity | $0 |
| Ownership Stakes in Sub-Entities | $0 |
| Combined Net Worth | $0 |
No direct deals in this entity.
See sub-entity ownership above.
NORTHWIND GIFT TRUST
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
Ownership in Sub-Entities
Click entity name to view its deals
| Entity | Own % | Entity Deals | Entity Net Equity | Our Share |
|---|---|---|---|---|
| NWLP (incl. sub-entities) | 60% | 0 | $0 | $0 |
| Total Ownership Stakes | $0 | |||
Total Net Worth — Gift Trust (Direct + Sub-Entities)
| Direct Holdings Net Equity | $0 |
| Ownership Stakes in Sub-Entities | $0 |
| Combined Net Worth | $0 |
No direct deals in this entity.
See sub-entity ownership above.
NORTHWIND LEGACY TRUST
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
Ownership in Sub-Entities
Click entity name to view its deals
| Entity | Own % | Entity Deals | Entity Net Equity | Our Share |
|---|---|---|---|---|
| NWLP (incl. sub-entities) | 30% | 0 | $0 | $0 |
| Total Ownership Stakes | $0 | |||
Total Net Worth — Legacy Trust (Direct + Sub-Entities)
| Direct Holdings Net Equity | $0 |
| Ownership Stakes in Sub-Entities | $0 |
| Combined Net Worth | $0 |
No direct deals in this entity.
See sub-entity ownership above.
NORTHWIND FAMILY LP
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
Ownership in Sub-Entities
Click entity name to view its deals
| Entity | Own % | Entity Deals | Entity Net Equity | Our Share |
|---|---|---|---|---|
| Harbor LP (incl. sub-entities) | 90% | 0 | $0 | $0 |
| Holdings | 100% | 0 | $0 | $0 |
| Credit | 100% | 0 | $0 | $0 |
| Total Ownership Stakes | $0 | |||
Total Net Worth — NWLP (Direct + Sub-Entities)
| Direct Holdings Net Equity | $0 |
| Ownership Stakes in Sub-Entities | $0 |
| Combined Net Worth | $0 |
No direct deals in this entity.
See sub-entity ownership above.
HARBOR LP
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
Ownership in Sub-Entities
Click entity name to view its deals
| Entity | Own % | Entity Deals | Entity Net Equity | Our Share |
|---|---|---|---|---|
| Harbor Eq | 100% | 0 | $0 | $0 |
| Total Ownership Stakes | $0 | |||
Total Net Worth — Harbor LP (Direct + Sub-Entities)
| Direct Holdings Net Equity | $0 |
| Ownership Stakes in Sub-Entities | $0 |
| Combined Net Worth | $0 |
No direct deals in this entity.
See sub-entity ownership above.
HARBOR EQUITIES LLC
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
No direct deals in this entity.
NORTHWIND HOLDINGS LLC
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
No direct deals in this entity.
NORTHWIND CREDIT LLC
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
No direct deals in this entity.
NORTHWIND GROWTH TRUST
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
No direct deals in this entity.
NORTHWIND FOUNDATION
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
No direct deals in this entity.
NORTHWIND ROTH IRA
Direct Deals
0
Gross FMV
$0
Gross Debt
$0
Our FMV
$0
Our Net Equity
$0
Invested Capital
$0
No direct deals in this entity.
Other Entities
Direct Deals
35
Gross FMV
$245,397,000
Gross Debt
$104,335,700
Our FMV
$225,815,400
Our Net Equity
$130,405,220
Invested Capital
$59,435,000
Direct Holdings — Other (35 deals)
Real Estate (13 deals)
Our FMV: $183,628,400
Our Debt: $87,535,680
Net Equity: $96,092,720
| Deal | Invested Cap. | Gross FMV | Gross Debt | Gross Net Eq. | Own % | Our FMV | Our Debt | Our Net Eq. |
|---|---|---|---|---|---|---|---|---|
|
Sunbelt Logistics Park
Dallas, TX · Val 09/30/2026 |
$3,600,000 | $43,667,000 | $21,753,600 | $21,913,400 | 90.00% | $39,300,300 | $19,578,240 | $19,722,060 |
|
Crosswater Portfolio
Charlotte, NC · Val 09/30/2026 |
$3,240,000 | $41,200,000 | $20,741,600 | $20,458,400 | 90.00% | $37,080,000 | $18,667,440 | $18,412,560 |
|
Eastport Distribution Center
Savannah, GA · Val 09/30/2026 |
$2,520,000 | $21,571,000 | $11,202,900 | $10,368,100 | 90.00% | $19,413,900 | $10,082,610 | $9,331,290 |
|
Maple Court Apartments
Charlotte, NC · Val 09/30/2026 |
$2,250,000 | $17,500,000 | $8,836,800 | $8,663,200 | 90.00% | $15,750,000 | $7,953,120 | $7,796,880 |
|
Riverbend Commons
Raleigh, NC · Val 09/30/2026 |
$2,790,000 | $16,545,000 | $8,289,800 | $8,255,200 | 90.00% | $14,890,500 | $7,460,820 | $7,429,680 |
|
Lakeshore Terrace
Chicago, IL · Val 09/30/2026 |
$1,980,000 | $15,500,000 | $7,874,500 | $7,625,500 | 90.00% | $13,950,000 | $7,087,050 | $6,862,950 |
|
Oakline Flats
Nashville, TN · Val 09/30/2026 |
$1,710,000 | $12,100,000 | $6,202,100 | $5,897,900 | 90.00% | $10,890,000 | $5,581,890 | $5,308,110 |
|
Summitwoods Apartments
Greenville, SC · Val 09/30/2026 |
$1,260,000 | $8,533,000 | $4,353,900 | $4,179,100 | 90.00% | $7,679,700 | $3,918,510 | $3,761,190 |
|
Northgate Plaza
Atlanta, GA · Val 09/30/2026 |
$1,750,000 | $7,600,000 | $3,744,700 | $3,855,300 | 100.00% | $7,600,000 | $3,744,700 | $3,855,300 |
|
Pinecrest Senior Living
Asheville, NC · Val 09/30/2026 |
$1,350,000 | $7,500,000 | $0 | $7,500,000 | 90.00% | $6,750,000 | $0 | $6,750,000 |
|
Clearwater Storage
Tampa, FL · Val 09/30/2026 |
$1,200,000 | $3,857,000 | $1,982,600 | $1,874,400 | 100.00% | $3,857,000 | $1,982,600 | $1,874,400 |
|
Birch Lane Townhomes
Durham, NC · Val 09/30/2026 |
$720,000 | $4,000,000 | $0 | $4,000,000 | 90.00% | $3,600,000 | $0 | $3,600,000 |
|
Willow Creek Shops
Columbia, SC · Val 09/30/2026 |
$900,000 | $2,867,000 | $1,478,700 | $1,388,300 | 100.00% | $2,867,000 | $1,478,700 | $1,388,300 |
| Real Estate Total | $25,270,000 | $202,440,000 | $96,461,200 | $105,978,800 | $183,628,400 | $87,535,680 | $96,092,720 |
Private Equity (8 deals)
Our FMV: $29,070,000
Our Debt: $0
Net Equity: $29,070,000
| Deal | Invested Cap. | Gross FMV | Gross Debt | Gross Net Eq. | Own % | Our FMV | Our Debt | Our Net Eq. |
|---|---|---|---|---|---|---|---|---|
|
Alder Health Partners
Charlotte, NC |
$4,000,000 | $6,200,000 | $0 | $6,200,000 | 100.00% | $6,200,000 | $0 | $6,200,000 |
|
Granite Peak Fund III
Denver, CO |
$3,600,000 | $4,410,000 | $0 | $4,410,000 | 100.00% | $4,410,000 | $0 | $4,410,000 |
|
Harbor Point Fund IV
New York, NY |
$3,100,000 | $3,920,000 | $0 | $3,920,000 | 100.00% | $3,920,000 | $0 | $3,920,000 |
|
Orchard Software Group
Austin, TX |
$2,475,000 | $3,900,000 | $0 | $3,900,000 | 90.00% | $3,510,000 | $0 | $3,510,000 |
|
Riverstone Precision
Cleveland, OH |
$2,880,000 | $3,800,000 | $0 | $3,800,000 | 90.00% | $3,420,000 | $0 | $3,420,000 |
|
Northgate III
San Francisco, CA |
$2,400,000 | $2,930,000 | $0 | $2,930,000 | 100.00% | $2,930,000 | $0 | $2,930,000 |
|
Clearwater Dental Partners
Tampa, FL |
$2,000,000 | $2,600,000 | $0 | $2,600,000 | 100.00% | $2,600,000 | $0 | $2,600,000 |
|
Lakeshore II
Chicago, IL |
$2,500,000 | $2,080,000 | $0 | $2,080,000 | 100.00% | $2,080,000 | $0 | $2,080,000 |
| Private Equity Total | $22,955,000 | $29,840,000 | $0 | $29,840,000 | $29,070,000 | $0 | $29,070,000 |
Private Credit (7 deals)
Our FMV: $6,760,000
Our Debt: $7,874,500
Net Equity: -$1,114,500
| Deal | Invested Cap. | Gross FMV | Gross Debt | Gross Net Eq. | Own % | Our FMV | Our Debt | Our Net Eq. |
|---|---|---|---|---|---|---|---|---|
|
Beacon Credit Fund II
Charlotte, NC |
$2,200,000 | $2,310,000 | $0 | $2,310,000 | 100.00% | $2,310,000 | $0 | $2,310,000 |
|
Intercompany Loan: Northwind Holdings LLC
Charlotte, NC |
$2,000,000 | $2,000,000 | $0 | $2,000,000 | 100.00% | $2,000,000 | $0 | $2,000,000 |
|
Summit Packaging Term Loan
Greensboro, NC |
$1,500,000 | $1,500,000 | $0 | $1,500,000 | 100.00% | $1,500,000 | $0 | $1,500,000 |
|
Westfield Bridge Loan
Columbia, SC |
$1,200,000 | $1,200,000 | $0 | $1,200,000 | 100.00% | $1,200,000 | $0 | $1,200,000 |
|
Lakeshore Terrace Mezz Loan
Chicago, IL |
$1,000,000 | $1,000,000 | $7,874,500 | -$6,874,500 | 100.00% | $1,000,000 | $7,874,500 | -$6,874,500 |
|
Northwind Coffee Term Note
Charlotte, NC |
$750,000 | $750,000 | $0 | $750,000 | 100.00% | $750,000 | $0 | $750,000 |
|
Intercompany Loan: Northwind Holdings LLC
Charlotte, NC |
-$2,000,000 | -$2,000,000 | $0 | -$2,000,000 | 100.00% | -$2,000,000 | $0 | -$2,000,000 |
| Private Credit Total | $6,650,000 | $6,760,000 | $7,874,500 | -$1,114,500 | $6,760,000 | $7,874,500 | -$1,114,500 |
Venture Capital (4 deals)
Our FMV: $4,030,000
Our Debt: $0
Net Equity: $4,030,000
| Deal | Invested Cap. | Gross FMV | Gross Debt | Gross Net Eq. | Own % | Our FMV | Our Debt | Our Net Eq. |
|---|---|---|---|---|---|---|---|---|
|
Cedar Ridge Ventures V
Boston, MA |
$1,230,000 | $1,510,000 | $0 | $1,510,000 | 100.00% | $1,510,000 | $0 | $1,510,000 |
|
Pathline
Chicago, IL |
$750,000 | $1,420,000 | $0 | $1,420,000 | 100.00% | $1,420,000 | $0 | $1,420,000 |
|
Helios Robotics
Pittsburgh, PA |
$250,000 | $600,000 | $0 | $600,000 | 100.00% | $600,000 | $0 | $600,000 |
|
Tessera Diagnostics
Boston, MA |
$500,000 | $500,000 | $0 | $500,000 | 100.00% | $500,000 | $0 | $500,000 |
| Venture Capital Total | $2,730,000 | $4,030,000 | $0 | $4,030,000 | $4,030,000 | $0 | $4,030,000 |
Alternative Investments (3 deals)
Our FMV: $2,327,000
Our Debt: $0
Net Equity: $2,327,000
| Deal | Invested Cap. | Gross FMV | Gross Debt | Gross Net Eq. | Own % | Our FMV | Our Debt | Our Net Eq. |
|---|---|---|---|---|---|---|---|---|
|
Northwind Art Collection
Charlotte, NC |
$1,240,000 | $1,610,000 | $0 | $1,610,000 | 100.00% | $1,610,000 | $0 | $1,610,000 |
|
Vintage Watch Collection
Charlotte, NC |
$380,000 | $455,000 | $0 | $455,000 | 100.00% | $455,000 | $0 | $455,000 |
|
Burgundy and Barolo Cellar
Charlotte, NC |
$210,000 | $262,000 | $0 | $262,000 | 100.00% | $262,000 | $0 | $262,000 |
| Alternative Investments Total | $1,830,000 | $2,327,000 | $0 | $2,327,000 | $2,327,000 | $0 | $2,327,000 |