Rational/Pier 88 Convertible Securities Fund Class A Shares (PBXAX)
| Fund Assets | 215.59M |
| Expense Ratio | 1.24% |
| Min. Investment | $1,000 |
| Turnover | 185.00% |
| Dividend (ttm) | 0.60 |
| Dividend Yield | 5.42% |
| Dividend Growth | 254.80% |
| Payout Frequency | Quarterly |
| Ex-Dividend Date | Mar 30, 2026 |
| Previous Close | 10.52 |
| YTD Return | -1.10% |
| 1-Year Return | 2.40% |
| 5-Year Return | 5.79% |
| 52-Week Low | 10.33 |
| 52-Week High | 11.24 |
| Beta (5Y) | 0.47 |
| Holdings | 37 |
| Inception Date | Dec 17, 2019 |
About PBXAX
The Rational/Pier 88 Convertible Securities Fund Class A is a mutual fund specializing in investments primarily in convertible securities, which are hybrid instruments combining aspects of both fixed income and equity. The primary goal of the fund is to seek total return through a mix of capital appreciation and income generation. Convertible securities, such as bonds and preferred stocks that can be converted into a predetermined amount of a company’s common stock, allow the fund to participate in potential equity upside while also benefiting from the downside protection afforded by a bond floor. This dual nature makes convertible securities particularly appealing during periods of market uncertainty and for investors looking for a balance between growth and income. The fund’s managers employ an equity-sensitive approach, emphasizing companies where they perceive intrinsic value and potential for strong performance. This strategy is designed to identify mispricings and capitalize on opportunities within the convertible securities space, which is often overlooked and can trade at a discount relative to comparable fixed income assets. Overall, the fund serves as a specialized tool within the market, offering exposure to both equity and debt characteristics through a unique asset class.
Performance
PBXAX had a total return of 2.40% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.23%.
Top 10 Holdings
42.70% of assets| Name | Symbol | Weight |
|---|---|---|
| Bank of America Corp 7 1/4 % Non-Cum Perp Conv Pfd Shs Series -L- | BAC.7.25 PERP L | 4.80% |
| Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L- | WFC.7.5 PERP L | 4.73% |
| Global Payments Inc 1.5% | GPN.1.5 03.01.31 | 4.54% |
| ON Semiconductor Corp. 0.5% | ON.0.5 03.01.29 | 4.48% |
| NextEra Energy Inc Unit (Corporate Units 01/11/2029) | NEE.7.234 11.01.27 | 4.43% |
| Ventas Realty Limited Partnership 3.75% | VTR.3.75 06.01.26 | 4.24% |
| Digital Realty Trust, L.P. 1.875% | DLR.1.875 11.15.29 | 4.08% |
| American Water Capital Corp 3.625% | AWK.3.625 06.15.26 | 3.84% |
| Ares Management Corp 6.75% PRF PERPETUAL USD 50 - Ser B | ARES.6.75 10.01.27 B | 3.79% |
| Uber Technologies Inc 0.875% | UBER.0.875 12.01.28 2028 | 3.76% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Mar 30, 2026 | $0.2829 | Mar 31, 2026 |
| Dec 30, 2025 | $0.1228 | Dec 31, 2025 |
| Sep 29, 2025 | $0.0268 | Sep 30, 2025 |
| Jun 27, 2025 | $0.1657 | Jun 30, 2025 |
| Mar 28, 2025 | $0.0366 | Mar 31, 2025 |
| Dec 30, 2024 | $0.0467 | Dec 31, 2024 |