SEIC Filings — Sei Investments Company - FilingSpy
SEIC
Sei Investments Company
A global financial technology and asset management firm, SEI runs the software, operations, and investment platforms that banks, advisors, retirement plans, and institutions rely on — including its SEI Wealth Platform, SEI Novus analytics tool, and SEI Private Trust Company. It began in 1968 when founder Alfred P. West Jr. launched Simulated Environments Inc., building the first computer-based credit simulator to train bank loan officers; the acronym "SEI" outlived the original name. Fun fact: its name literally began as "Simulated Environments," a nod to using computers to simulate real-world finance decisions.
Q2 2026 revenue rose 14.7% to $641.6M while GAAP net income fell 13.8% on a prior-year one-off gain
The Stratos acquisition and higher asset-based fees carried the quarter. rose 14.7% to $641.6M and rose 32.6% to $197.0M, though fell 13.8% to $195.7M because the year-ago period included a $94.4M sale gain. Underlying growth is intact, but the LSV affiliate earnings trend and acquisition costs bear watching.
Key takeaways
rose 14.7% to $641.6M in Q2 2026, driven by higher assets under administration in Investment Managers, market appreciation and flows in Investment Advisors, and $40.1M from the Stratos acquisition.
attributable to SEI fell 13.8% to $195.7M, primarily because Q2 2025 included a $94.4M one-off gain on the sale of the Family Office Services business rather than recurring operations.
grew 32.6% to $197.0M and widened 4.1 points to 30.7%, while rose 2.1 points to 35.9%.
Section summaries
Management's Discussion and Analysis
Q2 2026 revenue rose 15% to $641.6M driven by higher asset-based fees and the Stratos acquisition, while GAAP net income fell 14% due to a prior-year gain on sale.
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Consolidated increased 15% to $641.6M, driven by higher in Investment Managers, market appreciation and flows in Investment Advisors, and $40.1M from the Stratos acquisition.
Investment Advisors rose 30% with the Stratos contribution, though its margin held at 42% as acquisition-related and higher direct expenses persisted from Q1.
Investment Managers rose 17% on administration fees from large alternative fund clients, with improving to 40%.
was $125.8M in Q2, up 30.3% but down 43.2% from Q1; the company repurchased 3.8M shares for $320.7M in H1 2026.
What changed
LSV equity earnings: Q1 2026 reversed the 2025 decline with a 12% rise to $32.1M, but Q2 2026 figure was not reported in this filing after the FY2025 full-year fall to $132.3M.
Stratos contribution built from $19.0M in Q1 2026 to $40.1M in Q2 2026 within Investment Advisors, while that 's margin stayed at 42% versus 47% before the acquisition.
SEI Integrated Cash Program fee growth was not separately quantified this quarter after a $31.4M annual increase in FY2025 and $31.9M quarterly increase in Q3 2025.
SEI Wealth Platform capitalized software recoverability was again not addressed in this 10-Q after KPMG's sustained critical audit matter at $194.2M net in FY2025.
Cash and equivalents fell 47.0% to $395.7M , continuing the post-Stratos decline from $399.8M at FY2025 end.
What to watch
LSV equity earnings print in Q3 2026 against the $32.1M Q1 2026 figure as client flows and markets move.
Stratos contribution to Investment Advisors and margin in Q3 2026 as and direct expenses build beyond $40.1M.
Any or recoverability charge on SEI Wealth Platform software in the next filing after the sustained KPMG matter at $194.2M.
Investment Advisors trajectory after holding at 42% for two quarters on acquisition-related costs.
grew 33% to $197.0M, but attributable to SEI fell 14% to $195.7M, primarily because the prior-year period included a $94.4M gain on the sale of the Family Office Services business.
Investment Managers rose 17% on increased administration fees from large alternative fund clients and positive cash flows, with improving to 40%.
Investment Advisors jumped 30%, reflecting growth in separately managed account and Strategist programs and the Stratos contribution, though margin declined to 42% due to acquisition-related and higher direct expenses.
was $347.4M for the first half of 2026, up from $243.0M, while the company repurchased 3.8M shares for $320.7M and paid $126.3M in dividends.
The decreased to 21.2% in Q2 2026 from 22.3%, helped by higher excess tax benefits from stock option exercises and purchased energy tax credits.
Quantitative and Qualitative Disclosures About Market Risk
Information required by this item is set forth under the captions "Our revenues and earnings are affected by changes in capital markets and significant changes in the value of financial instruments" and "Changes in interest rates may affect the value of our fixed-income investme…
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Information required by this item is set forth under the captions "Our revenues and earnings are affected by changes in capital markets and significant changes in the value of financial instruments" and "Changes in interest rates may affect the value of our fixed-income investment securities" in Item 1A Risk Factors and under the caption "Sensitivity of our revenues and earnings to capital market fluctuations" in Item 7, Management's Discussion and Analysis of Financial Condition and Results of Operations of our Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes to this information as it is disclosed in our Annual Report on Form 10-K for 2025.
We and certain of our subsidiaries are a party to or have property subject to litigation and other proceedings, examinations and investigations that arise in the ordinary course of our business that we do not believe are material. These types of matters could result in fines, pe…
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We and certain of our subsidiaries are a party to or have property subject to litigation and other proceedings, examinations and investigations that arise in the ordinary course of our business that we do not believe are material. These types of matters could result in fines, penalties, cost reimbursements or contributions, compensatory or treble damages or non-monetary sanctions or relief. We believe the probability is remote that the outcome of any of these matters will have a material adverse effect on SEI as a whole, notwithstanding that the unfavorable resolution of any matter may have a material effect on our net earnings in any particular interim reporting period. We cannot predict the outcome of legal or other proceedings with certainty. These matters include the proceedings summarized in “Note 11. Commitments and Contingencies” included in our Notes to Consolidated Financial Statements.
Information regarding risk factors appears in Part I – Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes in the risk factors from those disclosed in the Annual Report on Form 10-K for 2025.
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Information regarding risk factors appears in Part I – Item 1A of the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. There have been no material changes in the risk factors from those disclosed in the Annual Report on Form 10-K for 2025.