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United States – October 31, 2026 -- Judah Spinner's BlackBird Financial has built a significant ownership position in Fiserv, Inc., a company that generated more than $5 billion in adjusted net income over the past twelve months and carries a market capitalization of around $33 billion.

BlackBird is a hedge fund modeled on the Buffett Partnership of the 1950s. The announcement did not state the size of the stake. Spinner said the fund looked past Fiserv's short-term difficulties and focused on its long-term position.

BlackBird rules out activism and backs CEO Mike Lyons

Spinner said BlackBird will not pursue an activist role and fully supports management. "Our intention is to be long-term partners," he said.

He expects the next couple of years to be hard for Fiserv under new CEO Mike Lyons. Spinner said Lyons's decisions today will build a stronger, more resilient business over the next decade.