Q1 2026 INVESTOR UPDATE April 20, 2026 Thematic narratives often drive markets. When those narratives result in wide disconnects between market prices and the intrinsic value of a business or debt security, we find ourselves in the type of target rich environment upon which we can build years of future
Q4 2025 INVESTOR UPDATE 2025 was a mixed bag for Seabird investors. Our equity portfolio underperformed the indices by an unusually wide margin while our two fixed income strategies performed largely as intended. Before we talk about our outlook and respective strategies, a quick word on benchmarks. Four times a
Q3 2025 INVESTOR UPDATE EQUITIES The Value Equity strategy underperformed during the third quarter. Year to date, our portfolio is down approximately 6.0% while the value index is up 9.7%. We don’t take stretches of underperformance lightly, particularly when we’re down in an up market. But if you’re wondering what’s
Q2 2025 INVESTOR UPDATE EQUITIES Accounts in Seabird’s Value Equity strategy declined by approximately 3.8% during the first half of 2025, and over this short period, lagged the benchmark. We’re not surprised by recent results—nor are we concerned. Today’s market feels one-sided, with investors crowding into a narrow group of
BREAKING NEWS: Seabird’s Performing Credit Fixed Income Strategy Named PSN Top Gun. Read the full announcement.
