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RIA / WealthRegistered adviserformer SEC advisernot on rosterRAUM under $100M

WINDHORSE CAPITAL MANAGEMENT, LLC

CRD 158474

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Search this name across graphsid dfx:ria:24fbee45-31c1-5713-ab8f-009f5507c48d

Data as of Mar 15, 2019 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 3:53 PM UTC and rebuilt at most every 15 minutes.

Relationships: 9
Dated events: 1
On other graphs: 0
Observed: Dec 8, 2011 to Mar 15, 2019
20 observations

Across DFX

This entity has not been resolved onto another DFX graph by a shared identifier. A name match elsewhere would be a candidate, never an identity, and none is recorded.

Facts

fact = as filed or announced; derived = computed by DFX; estimate = a band, never a point

Firm class: former SEC adviserderivedabsent from the latest SEC roster
Regulatory AUM: $34.3MItem 5.F on the latest filing (2019-03-15); as reported, and an affiliate's assets may be counted again on its own filing
Discretionary RAUM: $34.3M
Private client RAUM: $0derivedItem 5.D individuals plus high net worth individuals
Private client share: 0%derivedprivate client RAUM over total RAUM
Advisors on IAPD: 0
Employees: 2
Advisory employees: 2
Offices: 0Schedule D 1.F, beyond the principal office
Accounts: 4
Individual clients: 0
High net worth clients: 0
Private funds: 4Schedule D 7.B(1)
Private fund GAV: $34.3Mgross asset value as reported per fund; never fund size
Custody, client assets: $34.3M
SEC number: 801-72641
CRD: 158474
Filings on the tape: 20
First filed: Dec 8, 2011
Latest filed: Mar 15, 2019
Organised: Limited Liability Company, Delaware

Private funds

Schedule D 7.B(1); gross asset value as reported, never fund size; reporting ends 2024-12-31

Fund	Type	Reported GAV	As of	Owners	First reported	Status	Form D file
THE THACHER SCHOOL ENDOWMENT, LP	Other Private Fund	$144M	Jul 3, 2017	1	Mar 30, 2016	dropped	n/a
WINDHORSE PARTNERS, LP	Other Private Fund	$30.8M	Mar 15, 2019	48	Dec 8, 2011	reported	021-158121
WINDHORSE RESERVE, LP	Other Private Fund	$24.6M	Jul 3, 2017	3	Feb 2, 2017	dropped	021-274408
WINDHORSE HORIZONS, LP	Other Private Fund	$2.5M	Mar 15, 2019	17	Dec 8, 2011	reported	021-171593
WINDHORSE ASCENT LP	Other Private Fund	$660,168	Mar 15, 2019	12	Mar 31, 2014	reported	021-209714
WINDHORSE ENDEAVOR, LP	Other Private Fund	$362,333	Mar 15, 2019	2	Mar 27, 2015	reported	021-279756

Owners and control persons

Schedule A and B as filed; ownership codes are the form's bands (NA under 5%, A 5 to 10%, B 10 to 25%, C 25 to 50%, D 50 to 75%, E over 75%); people are listed as filed and never merged by name

Owner	Title	Ownership code	Control person	Acquired	First seen	Last seen
AYER, TYLER, NEAL	ELECTED MANAGER, MEMBER AND CHIEF COMPLIANCE OFFICER	B	yes	01/2011	Dec 8, 2011	Mar 15, 2019
SALEM, DAVID, ANDREW	ELECTED MANAGER, MEMBER, CHAIRMAN AND CHIEF INVESTMENT OFFICER	C	yes	01/2011	Dec 8, 2011	Mar 15, 2019
SALEM, RICHARD, MARK	ELECTED MANAGER, MEMBER AND SENIOR ADVISOR	C	yes	01/2011	Dec 8, 2011	Mar 15, 2019

Regulatory AUM by fiscal year

annual amendments (and the roster's annual snapshot) as filed; where a year was amended twice the later filing draws the line

Fiscal year	Filed	RAUM	Discretionary	Employees	Advisory staff	Offices	Private funds	Fund GAV
2018	Mar 15, 2019	$34.3M	$34.3M	2	2	0	4	$34.3M
2017	Mar 15, 2018	$116M	$116M	2	2	0	4	$118M
2016	Mar 20, 2017	$410M	$410M	9	6	n/a	6	$434M
2015	Mar 30, 2016	$374M	$374M	18	9	n/a	5	$398M
2014	Mar 27, 2015	$280M	$280M	14	8	n/a	4	$280M
2013	Mar 31, 2014	$271M	$271M	11	7	n/a	3	$271M
2012	Mar 28, 2013	$232M	$232M	13	8	n/a	2	$232M
2011	Mar 30, 2012	$210M	$210M	n/a	n/a	n/a	2	$210M

Growth

derived from consecutive annual filings; RAUM as reported

Latest fiscal year	RAUM	A year earlier	1y change	Three years earlier	3y CAGR	Employees	A year earlier	Offices	A year earlier
2018	$34.3M	$116M	-70.5%	$374M	-54.9%	2	2	0	0

Relationships

Advises (6)

→ WINDHORSE PARTNERS, LPPrivate fundOther Private Fund, IA
Dec 8, 2011 to presentfactForm ADV
→ WINDHORSE ENDEAVOR, LPPrivate fundOther Private Fund, IA
Mar 27, 2015 to presentfactForm ADV
→ WINDHORSE HORIZONS, LPPrivate fundOther Private Fund, IA
Dec 8, 2011 to presentfactForm ADV
→ WINDHORSE ASCENT LPPrivate fundOther Private Fund, IA
Mar 31, 2014 to presentfactForm ADV
→ WINDHORSE RESERVE, LPPrivate fundOther Private Fund, IA, no longer reported
Feb 2, 2017 to Jul 3, 2017factForm ADV
→ THE THACHER SCHOOL ENDOWMENT, LPPrivate fundOther Private Fund, IA, no longer reported
Mar 30, 2016 to Jul 3, 2017factForm ADV

Controls (3)

← SALEM, DAVID, ANDREWOwnerELECTED MANAGER, MEMBER, CHAIRMAN AND CHIEF INVESTMENT OFFICER, ownership code C, individual
Dec 8, 2011 to presentfactForm ADV
← AYER, TYLER, NEALOwnerELECTED MANAGER, MEMBER AND CHIEF COMPLIANCE OFFICER, ownership code B, individual
Dec 8, 2011 to presentfactForm ADV
← SALEM, RICHARD, MARKOwnerELECTED MANAGER, MEMBER AND SENIOR ADVISOR, ownership code C, individual
Dec 8, 2011 to presentfactForm ADV

Dated events

Occurred
Mar 15, 2018
Regulatory AUM changed
Windhorse Capital Management, Llc reported RAUM $116.3M, down 72% from $409.9M (2017-07-03 to 2018-03-15)
Form ADVobserved 6 days ago
$-294M

Provenance

Graph: RIA / Wealth Management
Canonical id: dfx:ria:24fbee45-31c1-5713-ab8f-009f5507c48d
First observed: Dec 8, 2011
Last observed: Mar 15, 2019 91 months ago
Source families: Federal regulator filings
3 registered feeds stand behind this record; each fact above carries its own dates and, where the publisher serves one, its document.
Resolution: Identity across graphs by shared identifier (CRD, CIK, EIN, ADV fund id, individual CRD) or citation; a name match is shown as a candidate and never merged.

WINDHORSE CAPITAL MANAGEMENT, LLC

CRD 158474

This is the graph view. The full profile, with its team, deals and sources, is on RIA / Wealth Management.Open the full profile →

Search this name across graphsid dfx:ria:24fbee45-31c1-5713-ab8f-009f5507c48d

Data as of Mar 15, 2019 (this record's last observation) from federal regulator filings. Page built Sep 21, 2026, 3:53 PM UTC and rebuilt at most every 15 minutes.

Fund

Type

Reported GAV

As of

Owners

First reported

Status

Form D file

THE THACHER SCHOOL ENDOWMENT, LP

Other Private Fund

$144M

Jul 3, 2017

Mar 30, 2016

dropped

n/a

WINDHORSE PARTNERS, LP

Other Private Fund

$30.8M

Mar 15, 2019

Dec 8, 2011

reported

021-158121

WINDHORSE RESERVE, LP

Other Private Fund

$24.6M

Jul 3, 2017

Feb 2, 2017

dropped

021-274408

WINDHORSE HORIZONS, LP

Other Private Fund

$2.5M

Mar 15, 2019

Dec 8, 2011

reported

021-171593

WINDHORSE ASCENT LP

Other Private Fund

$660,168

Mar 15, 2019

Mar 31, 2014

reported

021-209714

WINDHORSE ENDEAVOR, LP

Other Private Fund

$362,333

Mar 15, 2019

Mar 27, 2015

reported

021-279756

Owner

Title

Ownership code

Control person

Acquired

First seen

Last seen

AYER, TYLER, NEAL

ELECTED MANAGER, MEMBER AND CHIEF COMPLIANCE OFFICER

yes

01/2011

Dec 8, 2011

Mar 15, 2019

SALEM, DAVID, ANDREW

ELECTED MANAGER, MEMBER, CHAIRMAN AND CHIEF INVESTMENT OFFICER

yes

01/2011

Dec 8, 2011

Mar 15, 2019

SALEM, RICHARD, MARK

ELECTED MANAGER, MEMBER AND SENIOR ADVISOR

yes

01/2011

Dec 8, 2011

Mar 15, 2019

Fiscal year

Filed

RAUM

Discretionary

Employees

Advisory staff

Offices

Private funds

Fund GAV

2018

Mar 15, 2019

$34.3M

2017

Mar 15, 2018

$116M

$118M

2016

Mar 20, 2017

$410M

n/a

$434M

2015

Mar 30, 2016

$374M

n/a

$398M

2014

Mar 27, 2015

$280M

n/a

$280M

2013

Mar 31, 2014

$271M

n/a

$271M

2012

Mar 28, 2013

$232M

n/a

$232M

2011

Mar 30, 2012

$210M

n/a

$210M

Latest fiscal year

RAUM

A year earlier

1y change

Three years earlier

3y CAGR

Employees

A year earlier

Offices

A year earlier

2018

$34.3M

$116M

-70.5%

$374M

-54.9%