Wrenfield Family Office · Capital Flow · Steven Kohl, CFO

Capital flow

5 notices · rendered Wednesday, July 22, 2026

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All three entities go short on what's currently scheduled. Ellencourt 2012 Descendants Trust drops to −$9,000,000 on 2026-08-04 (the Cormorant IV call) and is still −$7,600,000 after the Windham Credit distribution lands ten days later. Wrenfield Holdings LLC drops to −$7,000,000 on 2026-08-07 (Blackford III) and is still −$4,750,000 after the Stillwater distribution on 2026-08-14. Kestrel Lane LLC drops to −$6,000,000 on 2026-08-11 (Harrow Point RE II) and has no distribution scheduled to offset it at all. The combined total also goes negative — to −$22,000,000 on 2026-08-11 — so the all-up number doesn't mask anything here, but it wouldn't have to be this way: a combined number staying positive would not mean every entity is covered, which is exactly why each one is broken out below.

Calls scheduled (out)

$22,000,000

3 calls · Aug 4 – Aug 11

Distributions scheduled (in)

$3,650,000

2 distributions · both Aug 14

Combined net position

−$22,000,000

lowest point · 2026-08-11 · ends at −$18,350,000

Entities short

3 of 3

Trust · Wrenfield Holdings · Kestrel Lane

Per-entity position

Each entity's cash calls draw on its own account — a distribution landing in one entity never covers a call drawn on another. Running position starts at zero and is relative, not a real account balance.

Ellencourt 2012 Descendants Trust

−$9,000,000

lowest point · 2026-08-04

Wrenfield Holdings LLC

−$7,000,000

lowest point · 2026-08-07

Kestrel Lane LLC

−$6,000,000

lowest point · 2026-08-11 · no distribution scheduled

Everything due out and coming in, in date order

One row per notice still sitting in office/steven/. Once Steven wires a call or a distribution lands, he moves the file to done/ and it drops off this page on the next run — this page cannot see whether either has actually happened yet.

Date	Days away	Type	Fund	Entity	Amount	Running position
2026-08-04	13	out	Cormorant IV — Call No. 7	Ellencourt 2012 Descendants Trust	$9,000,000	−$9,000,000
2026-08-07	16	out	Blackford III — Call No. 5	Wrenfield Holdings LLC	$7,000,000	−$7,000,000
2026-08-11	20	out	Harrow Point RE II — Call No. 9	Kestrel Lane LLC	$6,000,000	−$6,000,000
2026-08-14	23	in	Stillwater Absolute Return — distribution	Wrenfield Holdings LLC	$2,250,000	−$4,750,000
2026-08-14	23	in	Windham Credit — distribution	Ellencourt 2012 Descendants Trust	$1,400,000	−$7,600,000

Unreadable notices

A notice whose date or amount can't be read gets pulled out of the math and named here instead of silently dropped.

None right now — every notice in the folder had a readable date and amount.

This page shows what's currently in office/steven/ — it has no payment ledger, so nothing here is marked paid or received; a notice is "open" only because the file is still in the folder. The running position is relative, starting at zero per entity — it is not a real account balance and this machine never goes looking for one. This is a snapshot: nothing watches for changes, so ask for it again after a new notice arrives or one moves to done/.