Gate City Capital Management Reports New 5.4% Passive Stake in Seaport Entertainment Group Inc.

On May 15, 2026, Gate City Capital Management, LLC, and its managing member Michael Melby filed a Schedule 13G with the SEC, reporting a new 5.4% stake in Seaport Entertainment Group Inc. (SEG). The filing indicates that the reporting persons beneficially own 689,447 shares of Common Stock as of the event date on March 31, 2026. Gate City Capital Management, an Illinois-based investment adviser, holds sole voting and dispositive power over all reported shares, which are held on behalf of various private investment funds and managed accounts. This initial 13G filing marks a significant increase from a previous ownership position of 0.0%. The filing includes a standard certification that the securities were acquired in the ordinary course of business and not for the purpose of influencing or changing the control of the issuer. This passive investment reflects Gate City's entry as a major shareholder in the New York-based entertainment company.