Memos

Q1 2025 INVESTOR UPDATE EQUITIES Accounts in Seabird’s Value Equity strategy declined by ~5.2% during the first quarter of 2025 (and of course quite a

Q1 2025 INVESTOR UPDATE “A majority of life’s errors are caused by forgetting what one is really trying to do.” -Charlie Munger Seabird’s focus on

2024 Q3 INVESTOR UPDATE At our 8-year anniversary we thought we’d note a milestone or two of interest. Over the past year we entered into

2024 Q2 INVESTOR UPDATE EQUITIES Performance: Equity+ accounts gained ~9.6% since the start of 2024. Importantly, from our 2016 inception date your portfolios appreciated by

2024 Q1 INVESTOR UPDATE While Q1 performance was exceptional across Seabird’s strategies (please see our attached composite performance tear sheet), there were no remarkable events

  2023 ANNUAL INVESTOR UPDATE  Seabird investors enjoyed exceptional returns across all three of our strategies in 2023:  Muni+: 8.85% Income+: 14.82% Equity+: 29.78%  Our long-time clients are