BML Investment Partners, L.P. and Braden M. Leonard filed a Schedule 13D with the SEC on November 2, 2026, disclosing beneficial ownership positions in the common stock of Seer, Inc. and reporting that a letter was sent to the company's Board of Directors on that same date.

Key Highlights

  • Combined beneficial ownership: Braden M. Leonard beneficially owns 2,600,490 shares of Seer, Inc. common stock, representing 4.7% of the class, according to the filing.
  • Fund position: BML Investment Partners, L.P. beneficially owns 2,180,490 shares, representing 3.9% of the class, per the filing.
  • Personal position: Braden M. Leonard holds sole voting and dispositive power over 420,000 shares, representing 0.7% of the class, as disclosed.
  • Source of funds: BML Investment Partners, L.P. used working capital; Braden M. Leonard's personal shares were funded from personal funds.
  • Board letter: The filing states that "on November 2, the Reporting Person sent a letter to the Board expressing disappointment in the Board's decision to remain a public company."
  • Structure: BML Investment Partners, L.P. is a Delaware limited partnership whose sole general partner is BML Capital Management, LLC, of which Braden M. Leonard is the managing member.

BML Investment Partners and Leonard Disclose Seer Stake, Send Board Letter

According to the Schedule 13D filed on November 2, 2026, BML Investment Partners, L.P. and its managing member Braden M. Leonard together hold a combined beneficial interest of 2,600,490 shares of Seer, Inc. common stock (NASDAQ:SEER). The filing reports that BML Investment Partners, L.P. holds shared voting and dispositive power over 2,180,490 shares, while Leonard personally holds sole voting and dispositive power over an additional 420,000 shares. The filing notes that Leonard is deemed the indirect owner of shares held by BML Investment Partners, L.P. due to his role as managing member of BML Capital Management, LLC, the fund's sole general partner.

The stated purpose of the filing centers on a communication sent to Seer, Inc.'s Board of Directors. The filing discloses that "on November 2, the Reporting Person sent a letter to the Board expressing disappointment in the Board's decision to remain a public company." That letter is listed as Exhibit 1 to the filing. No further details of the letter's contents are described within the body of the Schedule 13D itself.

The filing also states that the reporting persons "disclaim that they constitute a statutory group within the meaning of Rule 13d-5(b)(1) of the Securities Exchange Act of 1934," despite the shared beneficial ownership. The filing reports no contracts, arrangements, understandings, or relationships with respect to securities of the issuer beyond what is described, and discloses that none of the reporting persons have been subject to relevant criminal or civil proceedings in the past five years.

What Was Disclosed

BML Investment Partners, L.P. and Braden M. Leonard filed a Schedule 13D on November 2, 2026, disclosing aggregate beneficial ownership of 2,600,490 shares (4.7%) of Seer, Inc. common stock and reporting that a letter expressing disappointment in the Board's decision to remain a public company was sent to the Board on the same date.