Rational/Pier 88 Convertible Securities Fund Class C Shares (PBXCX)
| Fund Assets | 222.54M |
| Expense Ratio | 2.00% |
| Min. Investment | $1,000 |
| Turnover | 185.00% |
| Dividend (ttm) | 0.52 |
| Dividend Yield | 4.64% |
| Dividend Growth | 465.07% |
| Payout Frequency | Quarterly |
| Ex-Dividend Date | Mar 30, 2026 |
| Previous Close | 11.16 |
| YTD Return | 4.91% |
| 1-Year Return | 6.10% |
| 5-Year Return | 9.67% |
| 52-Week Low | 10.30 |
| 52-Week High | 11.35 |
| Beta (5Y) | n/a |
| Holdings | 34 |
| Inception Date | Dec 17, 2019 |
About PBXCX
The Rational/Pier 88 Convertible Securities Fund Class C Shares is a mutual fund designed to provide investors with a total return that combines both capital appreciation and income. Its primary focus is on convertible securities, which are hybrid financial instruments offering a blend of fixed income and equity characteristics. These typically include bonds or preferred stocks that can be converted into common shares at predetermined terms, allowing for participation in market upside while providing a degree of downside protection through a bond floor component. The fund’s strategy emphasizes identifying intrinsic value and potential mispricing within a company’s capital structure, particularly targeting equity-sensitive, balanced, and credit segments. Convertible securities, as the fund’s core asset class, are notable for their lower historical default rates compared to traditional high-yield bonds. The fund holds a diversified portfolio across various sectors, with substantial allocations to corporates and financial services. Managed actively, it seeks to capitalize on the unique risk/return profile of convertibles—a segment often overlooked in the broader market. This positions the Rational/Pier 88 Convertible Securities Fund Class C Shares as a specialized vehicle for investors seeking exposure to securities that bridge the characteristics of debt and equity markets, while aiming for growth and periodic income.
Performance
PBXCX had a total return of 6.10% in the past year, including dividends. Since the fund's inception, the average annual return has been 4.40%.
Top 10 Holdings
50.27% of assets| Name | Symbol | Weight |
|---|---|---|
| First American Treasury Obligations Fund | FXFXX | 7.68% |
| Alliant Energy Corporation 3.25% | LNT.3.25 05.30.28 | 4.94% |
| PPL Capital Funding Inc. 2.875% | PPL.2.875 03.15.28 | 4.89% |
| Global Payments Inc 1.5% | GPN.1.5 03.01.31 | 4.80% |
| Wells Fargo & Co 7 1/2 % Non Cum Perp Conv Pfd Shs -A- Series -L- | WFC.7.5 PERP L | 4.69% |
| Uber Technologies Inc 0.875% | UBER.0.875 12.01.28 2028 | 4.68% |
| Digital Realty Trust, L.P. 1.875% | DLR.1.875 11.15.29 | 4.66% |
| NextEra Energy Inc Unit (Corporate Units 01/11/2029) | NEE.7.234 11.01.27 | 4.65% |
| Bank of America Corp 7 1/4 % Non-Cum Perp Conv Pfd Shs Series -L- | BAC.7.25 PERP L | 4.64% |
| ON Semiconductor Corp. 0.5% | ON.0.5 03.01.29 | 4.64% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Mar 30, 2026 | $0.2638 | Mar 31, 2026 |
| Dec 30, 2025 | $0.1014 | Dec 31, 2025 |
| Sep 29, 2025 | $0.0069 | Sep 30, 2025 |
| Jun 27, 2025 | $0.1455 | Jun 30, 2025 |
| Mar 28, 2025 | $0.0166 | Mar 31, 2025 |
| Dec 30, 2024 | $0.0302 | Dec 31, 2024 |