Which superinvestors hold Sei Investments Company (SEIC)?

Per the latest SEC 13F filings, 3 superinvestors hold Sei Investments Company (SEIC): Thomas Gayner, Ray Dalio, Thomas Kahn. Combined value held is about $28.4M, with Thomas Gayner the largest holder.

← Stocks

Sei Investments Company

SEICAbove valueExpectations · demanding

Held by 3 superinvestors.

Price$110.78

Holders3

Total value$28.4M

SEC 10-K · fundamentals

Business quality

as of 2025-12-31

Valuation basis: trailing twelve months to 2026-06-30 — latest 10-K plus unaudited 10-Q filings.

Revenue growth: +8.1%
Net margin: 31.1%
ROE: 29.2%
FCF margin: 25.5%

Revenue $1.68B → $2.30B · 6y

What makes a business high quality

Valuation · value band

Above fair value

$78/ sh · growth-anchored intrinsic value

margin of safety

fair value

above fair value

$111

cheaperpricier

Zero-growth floor

$40

Central IV

$78

Optimistic top

$97

Sei Investments Company (SEIC): Two methods value the business — a conservative owner-earnings DCF and a growth-credited Greenwald estimate, $40–$97 / sh. Today’s price sits above both (price $111 as of 2026-08-26).

The middle figure is the main read. The right end is the optimistic case under the same conservative caps — not an absolute ceiling.

Revenue growth 5% (lower of historical trend and fundamental cap, capped by moat) · moat 20 yr · discount 10.6% · Zero-growth downside $40

Price as of 2026-08-26 · yahoo · DGS10 4.6% @ 2026-08-25.

Method & numbers

A conservative intrinsic-value band (zero-growth floor to growth-capped DCF) plus a tangible asset floor — not investment advice, not a buy/sell signal, and not a price target.

Owner-earnings DCF $49.60 – $95.24 · Greenwald $68.07 – $97.28 (neutral $83.69) · zero-growth base $57.87 · reproduction $14.12

Moat Franchise (moat) · terminal value 23% of present value · owner-earnings yield 5% vs 10Y 4.6%.

Graham earnings-power value (normalized NOPAT)$39.96 – $48.18 / sh

Normalized NOPAT = average operating margin over the years shown × latest-year revenue × (1 − normalized tax); then + D&A − maintenance capex (write A). Unlevered (pre-interest, attributable to all capital). Capitalized at the 9–11% rate band (read as a WACC proxy). Enterprise → equity bridge applied: + cash − total debt.

Years: TTM 2026-06-30, 2024, 2023, 2022, 2021

v1 simplifications: Maintenance capex unavailable → degraded to the v1 simplification (maintenance capex = D&A, so the depreciation add-back nets to zero). Share-based compensation is left as a real expense (not added back).

Buffett owner-earnings value$47.34 – $57.87 / sh

Owner earnings = average net income + average D&A − maintenance capex (zero-growth floor; no ΔNWC). Levered (starts from net income, already after interest — an equity-holder stream). Capitalized at the 9–11% rate band (read as a cost-of-equity proxy). No enterprise→equity bridge: the capitalized result is already equity value (subtracting debt would double-count interest).

Years: TTM 2026-06-30, 2024, 2023, 2022, 2021

v1 simplifications: Maintenance capex or D&A unavailable → degraded to normalized net income (= average net income over the years shown). One-time items are not separately normalized (multi-year averaging smooths them partially). Share-based compensation is left as a real expense (not added back); see the SBC/OE disclosure. Capitalized at the 9–11% band as a cost-of-equity proxy; no leverage premium applied (net cash or debt within the no-charge range).

Reproduction value = tangible net assets $1.74B = $14.12 / sh. Tangible net assets = shareholders' equity − goodwill − intangibles, ÷ diluted shares (no R&D history to capitalize).

Moat reading: Franchise test compares earnings power (EPV) against reproduction value on both AV_conservative (tangible + capitalized R&D) and AV_reproduction (conservative + acquired-reset proxy). Both must clear the franchise multiple for a moat signal; near it, a commodity; below it, value destruction. A directional reading, not a verdict.

Assumes a wide moat · competitive-advantage period ≈ 20 years (earnings intact, ROIC stable over history).

Growth value: if the moat holds for 20 yr at ROIIC ≈ 123%, $10.20–$39.42 / sh (neutral $25.83). Conservative, not a forecast.

Window TTM 2026-06-30, FY 2024, 2023, 2022, 2021 · discount band 9%–11% · normalized tax 21% (Average effective tax rate over 5 year(s), capped at the statutory 21%.) · diluted shares.

Owner-earnings DCF: growth g₁ 5% · OE FY TTM 2026-06-30, 2024, 2023, 2022, 2021 · Discount band: 9.14%–12.00% (DGS10 +4.5% to a 12% strict end, as of 2026-08-25). No enterprise→equity bridge: owner earnings already flow to shareholders (post-interest), so no net cash is added and no debt subtracted — matching the engine owner-earnings lamp. Two-method midpoint gap 8%.

Valuation basis: trailing twelve months to 2026-06-30 — latest 10-K plus unaudited 10-Q filings.

What the price is betting

Today's price pencils in about 9.8% a year in owner-earnings for the next few years. Revenue actually grew 5.3% a year.

The market wants it well ahead of its own track record.

How to read intrinsic value

SEC 13F · holders

Superinvestors Holding This Security

3 holders · $28.4M combined · this quarter +0 opened / -0 exited

This quarter1 trimmed

Holders 3 → 3 · last 8q

Investor	Value	Shares	Weight (prev→now)
Thomas Gayner	$15.2M	173,200	0.1% → 0.1% ▲
Ray Dalio	$12.7M	144,423	0.1% → 0.1% ▼
Thomas Kahn	$517,588	6,596	0.1% → 0.1%

Thomas Gayner
Value$15.2MWeight (prev→now)0.1% → 0.1% ▲
Ray Dalio
Value$12.7MWeight (prev→now)0.1% → 0.1% ▼
Thomas Kahn
Value$517,588Weight (prev→now)0.1% → 0.1%

SEC 13F · notes

Written summary

Sei Investments Company (SEIC) is held by 3 of the superinvestors tracked on Compounder, with a combined $28.4M in reported 13F value. The largest position belongs to Thomas Gayner, where it makes up 0.1% of the portfolio.

Other notable holders by value include Ray Dalio (0.1% of its book) and Thomas Kahn (0.1% of its book).

Over the latest quarter, 0 of the tracked filers opened a new position in SEIC, 0 added to existing ones, 1 trimmed, and 0 sold out entirely.

Holder counts and values reflect the most recent SEC Form 13F filings, through the quarter ended 2026-06-30. Source: SEC EDGAR. A 13F shows only long US-listed positions and can lag the real portfolio by up to 45 days, so this is disclosed long ownership, not a complete picture.

How to read a 13F

SEC 13F · co-ownership

Also held by these investors

Investors holding Sei Investments Company (SEIC) also commonly hold →

SEIC's price is not below its conservative value band. See current strike-zone stocks

Also on

Sources· SEC EDGAR 13F as of 2026-06-30 · filed 2026-08-14

Educational data only — not investment advice. 13F positions are self-reported and can lag up to 45 days.

Stay Updated

New-quarter 13F moves and valuation updates, to your inbox.