Churchill Management’s Pitney Bowes PBI Stock Holding History

Churchill Management’s Portfolio PBI Stock Details PBI Fund Activity

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2014 Q4	–	Sell	-158,107	Closed	-$3.95M	–	199
2014 Q3	$3.95M	Buy	158,107 +12,792	+9%	+$342K	0.16%	79
2014 Q2	$4.01M	Buy	145,315 +42,283	+41%	+$1.13M	0.18%	72
2014 Q1	$2.68M	Buy	103,032 +50,421	+96%	+$1.24M	0.11%	92
2013 Q4	$1.23M	Buy	52,611 +31,214	+146%	+$671K	0.05%	129
2013 Q3	$389K	Buy	+21,397	New	+$351K	0.02%	148

Other funds holding PBI

LTI

Laffer Tengler Investments Nashville, Tennessee $677M AUM 27.58% 1-Year Est. Return

Vanguard Group Malvern, Pennsylvania $6.9T AUM 27.45% 1-Year Est. Return

IAM

Iridian Asset Management Westport, Connecticut $247M AUM 20.65% 1-Year Est. Return

Bank of New York Mellon New York $544B AUM 28.31% 1-Year Est. Return

Neuberger Berman Group New York $131B AUM 28.36% 1-Year Est. Return

State Street Boston, Massachusetts $2.9T AUM 29.55% 1-Year Est. Return

Invesco Atlanta, Georgia $1.02T AUM 30.18% 1-Year Est. Return

First Eagle Investment Management New York $59B AUM 32.99% 1-Year Est. Return

D.E. Shaw & Co New York $166B AUM 43.98% 1-Year Est. Return

BFA

BlackRock Fund Advisors San Francisco, California $542B AUM 18.13% 1-Year Est. Return

Churchill Management's PBI Position: Q4 2014 in Review

Churchill Management sold out of Pitney Bowes (PBI) in Q4 2014, closing a stake of 158,107 shares — an estimated $3.95M sold.

Churchill Management first reported a position in PBI in Q3 2013 and held it in 5 quarters. The position peaked at $4.01M in Q2 2014. 359 funds tracked by Wall St. Rank hold PBI as of Q4 2014.

Churchill Management reported no remaining Pitney Bowes position as of Q4 2014 after selling out during the quarter.
Churchill Management sold 158,107 Pitney Bowes shares in Q4 2014, an estimated $3.95M.
Churchill Management first reported a position in Pitney Bowes in Q3 2013 and held it in 5 quarters.
Churchill Management's Pitney Bowes position peaked at $4.01M in Q2 2014.
359 funds tracked by Wall St. Rank held Pitney Bowes as of Q4 2014.

Based on Churchill Management's 13F filing for Q4 2014, filed 8 Jan 2015.