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

Carmel, Indiana – December 16, 2025 – Winthrop Capital Management (WCM) 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 32 2025.  The highly anticipated list, published by Zephyr, remains one of the most important references for investors and asset managers.

“Q3 2025 delivered strong broad-based market gains, creating opportunities for skilled active managers,” says PSN Product Manager Nick Williams. “PSN Top Guns managers excelled by capitalizing on the market’s broadening rally and navigating the Fed’s policy pivot effectively. Their ability to position strategically across asset classes while maintaining discipline during this positive environment demonstrates the distinct value of active management in SMAs. As markets responded favorably to accommodative monetary policy and resilient fundamentals, these managers proved their worth by not just participating in the rally, but by strategically positioning to capture opportunities across the expanding opportunity set.”

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.

Winthrop achieved PSN Top Guns status for the following SMA strategies for 3Q 2025.

Preferred Securities

WCM’s Preferred Securities strategy had a gross return of 1.72% in the one-year period ending September 30, 2025. This strategy invests in hybrid securities, primarily preferred stocks or convertible securities of established companies with attractive relative market valuations or future earnings growth rates in excess of the market.

• 3 Month Category – Preferred Securities had one of the top ten returns for the three-month period ending September 30, 2025, in its respective universe.

Ultra-Short Fixed Income with Equity

WCM’s Ultra-Short Fixed Income with Equity strategy had a gross return of 6.71% in the one-year period ending September 30, 2025, relative to the Bloomberg 1-5 Year Government/ Credit which had a return of 4.49% during the same time. This strategy invests in investment grade corporate bonds, municipal bonds, asset-backed securities, mortgage-backed securities, high yield bonds, and equity securities.

• 3-Month, 1-Year, & 3-Year Categories – Ultra-Short Fixed Income with Equity had one of the top ten returns for the three-month period, one-year period, and three-year periods ending September 30, 2025, in its respective universe.

Corporate Bond Ladder 1-15 Years

WCM’s Corporate Bond Ladder 1-15 Year strategy seeks to deliver income opportunities while preserving capital and reducing interest rate risk by investing in laddered corporate bonds and maintaining a controlled duration discipline. WCM invests in a diversified portfolio of credit monitored investment-grade corporate securities with equally weighted maturities across varying time frames.

• 4 Star Category – Corporate Bond Ladder 1-15 Years had an r-squared of 0.80 or greater relative to the style benchmark for the recent five-year period. Moreover, the strategy’s returns exceeded the style benchmark for the three latest three-year rolling periods

Municipal Bonds Fixed Income

WCM’s Municipal Bonds Fixed Income strategy had a gross return of 1.84% in the one-year period ending September 30, 2025, relative to the Bloomberg Municipal Bond Index which had a return of 1.39% during the same time. This strategy invests in all major investment grade sectors of the municipal bond market including general obligation, revenue, special purpose bonds, and tax increment financing bonds.

• 3-Month Category – Municipal Bonds Fixed Income had one of the top ten returns for the three-month period ending September 30, 2025, in its respective universe.

About Winthrop Capital Management

Winthrop Capital Management is an SEC registered investment advisor with expertise in the management of fixed income and equity portfolios. WCM specializes in working with foundations, endowments, insurance companies, corporations, individuals, and pension funds. We believe that a disciplined portfolio structuring process, combined with strict relative value measurement and risk assessment, results in superior performance with a controlled level of risk. For more information about our investment philosophy and products, visit www.winthropcm.com

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. PSN Mid-Year Outlook provides insight and trends about the SMA industry. You can view online here.

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