Rational/Pier 88 Convertible Secs A (PBXAX)

Fund Assets	218.06M
Expense Ratio	1.25%
Min. Investment	$1,000
Turnover	185.00%
Dividend (ttm)	0.57
Dividend Yield	5.14%
Dividend Growth	108.27%
Payout Frequency	Quarterly
Ex-Dividend Date	Sep 29, 2026

Previous Close	11.17
YTD Return	6.04%
1-Year Return	6.44%
5-Year Return	9.46%
52-Week Low	10.37
52-Week High	11.84
Beta (5Y)	0.49
Holdings	34
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.

• Fund Family: Rational Funds
• Category: Convertibles
• Performance Rating: Low
• Risk Rating: Below Average
• Stock Exchange: Nasdaq
• Ticker Symbol: PBXAX
• Share Class: -class A Shares
• Index: S&P 500 TR

Performance

PBXAX had a total return of 6.44% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.96%.

Other Share Classes

These are alternative share classes of the same fund, from the same provider.

Symbol	Share Class	Expense Ratio
PBXIX	-institutional Shares	1.00%
PBXCX	-class C Shares	2.00%

Top 10 Holdings

47.36% of assets

Name	Symbol	Weight
First American Treasury Obligs X	FXFXX	8.14%
Digital Realty Trust, L.P. 1.875%	DLR.1.875 11.15.29	4.83%
NextEra Energy Inc Unit (Corporate Units 01/11/2029)	NEE.7.234 11.01.27	4.60%
Alliant Energy Corporation 3.25%	LNT.3.25 05.30.28	4.43%
Global Payments Inc 1.5%	GPN.1.5 03.01.31	4.40%
Bank of America Corp 7 1/4 % Non-Cum Perp Conv Pfd Shs Series -L-	BAC.7.25 PERP L	4.36%
Welltower Inc.	WELL	4.31%
PPL Capital Funding Inc. 2.875%	PPL.2.875 03.15.28	4.15%
Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L-	WFC.7.5 PERP L	4.08%
Uber Technologies Inc 0.875%	UBER.0.875 12.01.28 2028	4.05%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 29, 2026	$0.0527	Sep 30, 2026
Jun 29, 2026	$0.116	Jun 30, 2026
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

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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