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Smartbird

BIRD on Nasdaq. Market value $59m.

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Should I look at this?

We have not checked this company yet

This is not advice.

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Who owns it

None of the long-term investors we follow own it. 42 funds in all.

Jun '25
Dec '25
Jun '26
Largest holders overall

From 13F filings for the quarter ended 30 June 2026.

Big holders and activists

3 investors own more than 5%.

  • Timothy O. Brown
    Passive investor
    11.9%
    Since 30 September 2024
  • FMR LLC
    Passive investor
    at least 11.5%−1.9 pts
    (filed with 1 related holder)
    Since 30 June 2026
  • Ghost Angel LLC
    Passive investor
    5.9%
    Since 3 April 2025

From Schedule 13D and 13G filings: anyone owning more than 5% must file one.

What insiders did

No insider bought shares on the open market in the last 12 months. 4 sold $747,364.

  • BOYCE RICHARD W
    Director
    Sold
    Date
    18 September 2026
    Shares
    48,277
    Price
    $2.31
    Value
    $111,520
  • Mitchell Ann
    Chief Financial Officer
    Sold
    Date
    18 September 2026
    Shares
    19,508
    Price
    $2.30
    Value
    $44,868
  • Mitchell Ann
    Chief Financial Officer
    Sold
    Date
    2 September 2026
    Shares
    1,755
    Price
    $2.44
    Value
    $4,282
  • BOYCE RICHARD W
    Director
    Sold
    Date
    25 August 2026
    Shares
    9,200
    Price
    $2.38
    Value
    $21,896
  • Carlsten Nadia Catherine
    Chief Executive Officer, Director
    Sold
    Date
    25 June 2026
    Shares
    117,459
    Price
    $4.21
    Value
    $494,502
  • Mitchell Ann
    Chief Financial Officer
    Sold
    Date
    2 June 2026
    Shares
    1,587
    Price
    $4.52
    Value
    $7,173
  • Vernachio Joseph
    Chief Executive Officer, Director
    Sold
    Date
    2 June 2026
    Shares
    3,359
    Price
    $4.47
    Value
    $15,015
  • Vernachio Joseph
    Chief Executive Officer, Director
    Sold
    Date
    3 March 2026
    Shares
    4,413
    Price
    $2.69
    Value
    $11,871
  • Mitchell Ann
    Chief Financial Officer
    Sold
    Date
    3 March 2026
    Shares
    2,200
    Price
    $2.70
    Value
    $5,940
  • Mitchell Ann
    Chief Financial Officer
    Sold
    Date
    2 December 2025
    Shares
    1,837
    Price
    $4.87
    Value
    $8,946

From Form 4 filings: insiders must report trades in their own company's shares within two days.

Warning signs in its filings

Problems the company itself reported to the SEC, in its own words.

None of the serious warning signs we check for were found. 1 thing worth knowing.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 31 Mar 2026, plus the 10-Q filed 19 Aug 2026 and 16 later 8-Ks.

  • Changed auditor

    Worth knowing

    The company changed its auditor (the firm that checks its books) in the last two years.

    “On July 28, 2026, the Audit Committee of the Board of Directors of Smartbird, Inc. (the “Company”) dismissed Deloitte & Touche LLP (“Deloitte”) as the Company’s independent registered public accounting firm.”

    From an 8-K filed 29 July 2026: Change of auditor. Read it in the filing

A 10-K is the yearly report every US company files with the SEC. An 8-K is a short notice of a big event.

The deep dive

Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.

  • What the business is worth, as a range, and the margin of safety at today’s price
  • Prices to start buying, buy, and buy hard
  • The three things that would make this a mistake
  • Every number footnoted to the filing it came from
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What a finished deep dive looks like

Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.