Quarterly PSN Top Guns List published by Zephyr identifies best-in-class separate accounts, managed accounts, and managed ETF strategies.

Wilmington, North Carolina April 16, 2026— South Atlantic Capital announced today it has been named to the celebrated PSN Top Guns List of best performing separate accounts, managed accounts, and managed ETF strategies for Q4 2025. The highly anticipated list, published by Zephyr, remains one of the most important references for investors and asset managers.

"These managers have successfully steered through transformative events such as the COVID-19 pandemic market crash, the Brexit referendum, the US-China trade war, the global sell-off of 2015-2016, and the AI Driven market this year”, says PSN Product Manager Nick Williams. “Their ability to adapt to evolving market conditions, strategically position across asset classes, and capture opportunities underscores the enduring importance of active management in delivering value to investors."  

South Atlantic’s Core Equity Strategy is a high conviction (relatively concentrated) large value strategy focused on domestic stocks.

We’re pleased with our results for the last year, said portfolio manager Eddie Nowell. However, we believe the strategy’s strong long-term performance provides investors with a deeper insight into our firm by providing a transparent view of our performance through investment cycles which include both up and down markets.

Managers can generate outsized returns in up markets for short periods by simply taking too much risk. What we believe distinguishes our firm, if you look at our downside protection rankings below, is that our long-term performance has been greatly aided by our investment process and its focus on limiting risk and protecting capital in down markets.

Investors also underestimate that long term compounding is the 8th wonder of the world and that small differences in annual returns overtime result in profound differences in long-term outcomes.

Information Classification: General Information Classification: General Along with broad-based gains in our portfolio companies, recent performance benefitted from a sharp increase in a previously poorly performing holding. We took profits in that position and are currently holding significant cash equivalents which we think serves us well in the current environment.

Our performance and downside protection versus peers on PSN’s highly regarded database since our strategy’s inception is seen below. That database includes large cap managers at Goldman Sachs, JPMorgan, Alliance Bernstein, UBS, Morgan Stanley, T. Rowe Price, Lazard Asset Management, Brown Advisory, among others.



Through a combination PSN’s proprietary performance screens, the PSN Top Guns awards products in six proprietary categories in over 75 universes based on continued performance over time.

South Atlantic Capital’s strategy earned a PSN 1 Top Guns Award, meaning our Core Equity Strategy’s performance for the year ending December 31, 2025 ranked in the top ten in the following categories.

We had one of the top ten returns for the one-year period ending in December 31, 2025 in the Large Cap Value and the All Large Cap categories.

Our strategy focuses on making long-term investments in companies that we believe have sustainable competitive advantages. Critically, our mandate is to invest in companies we believe will show resilient operating performance during economic downturns. This, along with strong balance sheets, allows them to maintain the financial flexibility to continue making attractive, value-adding investments during these inevitable downturns. Basically, we seek companies that will be buyers of cheap assets not sellers. This has helped us meet our goal of outperforming our benchmarks through investment cycles while protecting client capital in down markets.

The complete list of PSN Top Guns and an overview of the methodology can be located at https://psn.fi.informais.com/PSNTopGuns/topguns_zephyr.asp

About South Atlantic Capital Management, Inc.

South Atlantic Capital Management, based in Wilmington, N. C. and registered in the state of North Carolina and the Commonwealth of Virginia is an Independent Investment Adviser offering investment management to clients since 1990. We claim compliance with the Global Investment Performance Standards (GIPS) and our strategy returns have been independently verified since inception January 1 , 1992 through December 31, 2024.

About PSN

For more than four decades, PSN has been a top resource for investment professionals. Asset managers rely on Zephyr’s PSN to effectively reach institutional and retail investors. Over 2,800 firms, 285 universes, and more than 21,000 products comprise the PSN SMA database showing asset breakdowns, compliance, key personnel, ownership diversity, ESG, business objectives and strategy, style, fees, GIC sectors, fixed income ranges and full holdings. Unique to PSN is its robust historical database of over 40 Years of Data Including Net and Gross-of-Fee Returns. Zephyr’s PSN produces the PSN Outlook eBook series provides insight and trends about the SMA industry. You can view them online here. Visit PSN online to learn more.

General Disclosures

The PSN Top Guns methodology ranks investment strategies based on their performance, consistency, and risk-adjusted returns within specific peer universes. The ranking system is based on an ascending star classification, from 1 to 6 stars, and is calculated quarterly by Zephyr, a product of Informa Financial Intelligence. The peer groups and rankings are based on information from the PSN investment manager questionnaire. The methodology uses gross-of-fee returns and evaluates performance within specific asset peer groups. Investment managers must comply with Global Investment Performance Standards (GIPS). These top performers are strictly based on returns for the one year period.

Awards are not a guarantee of future performance, and past performance is not a guarantee of future results. You should consult a financial professional before making investment decisions. Rankings are generally based on information submitted by the participating investment firms. While firms do not pay a fee to enter, some may pay to promote their winning status, which could be a factor in how widely the award is publicized. The rankings are based on PSN's proprietary database and methodology, and the firm does not guarantee the accuracy of all information.

Thank you for taking the time to read our Press Release. We are happy to speak with you anytime. Please feel free to email our office at: [email protected] Or contact us via email or call us at: southatlanticcap.com (910) 763-4113