Seabird’s Fixed Income Strategies Awarded Seven Top Gun Awards

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San Diego, CA – August 25, 2026 – Seabird Investment Partners is pleased to announce that the PSN Manager Database has awarded 7 Top Guns performance distinctions for the period ending June 30, 2026, across our Performing Credit and MuniPlus strategies. The PSN Top Guns award has been a hallmark of excellence in the managed account industry for more than 20 years.

The Performing Credit strategy earned 6 total Top Gun awards in the Core Plus and All
Maturity/Variable Universes, placing #1 for the one year and three-year periods in Core Plus and #2 for the three-year period in All Maturity/Variable. “We are incredibly proud of this recognition,” said Arch Peregoff (Founder & CIO). “Achieving Top Gun status demonstrates that an income focused approach can generate reliable total return, while maintaining a risk profile consistent with an investment grade bond portfolio.”

The MuniPlus strategy earned a Top Gun award in the Municipals Universe for the three-year period, placing 10th out of 210 strategies. MuniPlus Portfolio Manager and Partner Stefan Haberer commented “We’re glad to receive this recognition from PSN. The strategy delivered 6.2% annualized net performance over a 3-year period, driven by healthy income generation.”

Review Seabirds PSN Top Gun Awards here:
https://psn.fi.informais.com/PSNTopGuns/topguns_firm_zephyr.asp?iv=EEQHQIJUV

Disclosure: PSN Top Guns rankings are produced by PSN/Zephyr (Informa Financial Intelligence) using manager-submitted data from the PSN database. PSN requires managers included in Top Guns rankings to claim compliance with the GIPS standards; the rankings are generally calculated using gross-of-fee returns. The rankings referenced here are based on the one-quarter, one-year, and three-year periods ended June 30, 2026. Seabird Investment Partners paid no compensation to be considered for or to receive the rankings. Seabird did pay a licensing fee to use official PSN Top Gun badges. These rankings reflect past performance only, are not indicative of future results, and should not be relied on as the sole basis for any investment decision. Past performance is no guarantee of future results.

About PSN: The PSN Top Guns award has been a hallmark of excellence in the managed account industry for more than 20 years. Selections incorporate some of the most stringent quantitative screens used by any broad industry ranking, taking into account a manager’s correlation to its style benchmark, performance relative to the benchmark, and risk relative to its peer group. The PSN database, maintained by Zephyr (a division of Informa), is North America’s longest running and most comprehensive database of separately managed account (SMA) strategies. With nearly 40 years of detailed performance history covering more than 2,800 firms and 21,000+ products, PSN is widely recognized as the industry standard for SMA evaluation. All firms considered for Top Guns must claim GIPS compliance.

About Seabird Investment Partners: Seabird Investment Partners is a leading investment boutique specializing in value oriented fixed income and equity investments. Seabird Investment Partners works alongside financial professionals, families, and other entrepreneurial investors seeking above average rates of return.

Contact: Marcus O’Leary – Director of Business Development
858-314-6755 | marcus@seabirdfin.com | https://seabirdfin.com/

Click here to download the full press release.

Memo from The CIO: “Buy low, sell high.”

June 6th, 2026 

Memo from the CIO 

“Buy low. Sell high.” We all know what we’re supposed to do, but few actually do it. In fact, most investors consistently do the opposite. So why is it that average investors are inclined to shoot themselves in the foot by selling lows and buying highs? 

If you don’t believe investors consistently sell lows and buy highs, we’ll refer you to the well-known Dalbar study which demonstrates the underperformance of the average equity investor versus the S&P500 Index. Here’s a 5-year chart of investor underperformance versus the index: 

2025: (0.72%) 
2024: (8.48%) 
2023: (5.50%) 
2022: (3.06%) 
2021: (5.27%) 

It’s hard not to notice that the average investor isn’t just underperforming by a little bit: they’re massively underperforming the market. There’s a simple explanation: the average investor isn’t especially alarmed by a small period of underperformance, but large drawdowns create palpable fear which disables the human limbic system, and all too frequently results in emotional rather than rational decision making. In other words, our innate fight or flight mechanism compels us to lock in paper losses when they are at their very largest. The damage to long-term investment performance is often irreparable. And to compound the issue, proceeds from the sales are often redeployed to the market’s most overpriced securities. 

It’s understandable why retail investors might act in this fashion. Valuing and monitoring a business is a difficult process, one beyond the scope of most casual investors. Investors therefore interpret stock prices as accurate representations of the value of a business. The low price itself becomes the sell signal, rather than the buy signal it might otherwise be. That in fact is the greatest irony of all, and why those of us who see the tape as a tool rather than a gauge sit at an advantage. 

Some very smart investors have quibbled with the Dalbar study and the remarkable underperformance it demonstrates. They point out that there is a class of investors that does – at the very least – outperform other average investors. They’ve observed that those who do outperform are those employing a strict, rote process of additions and withdrawals; such as those who follow disciplined dollar cost averaging strategies or those making prescribed 401K contributions. This observation, however, only enforces the Dalbar conclusion that emotional bias is at the root of investor underperformance. These investors have merely showed the wisdom to subvert a primal impulse by adhering to a strict methodology. 

Essentially there are three ways an investor can shut off price signal as an alarming factor: Employ a rote process as described above, outsource the decision-making process to a competent third-party manager with full awareness that price signal is irrelevant, or develop detailed knowledge of business valuation and individual businesses. For those of us who are inclined to focus on business valuation, low prices are always looked upon as refreshing opportunities rather than a reason for alarm. 

-AP