Espalier Global Management’s Pitney Bowes PBI Stock Holding History

Espalier Global 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 Q2	–	Sell	-400,000	Closed	-$10.4M	–	129
2014 Q1	$10.4M	Buy	400,000 +50,000	+14%	+$1.23M	0.58%	40
2013 Q4	$8.15M	Sell	350,000 -175,000	-33%	-$3.76M	0.78%	44
2013 Q3	$9.55M	Buy	+525,000	New	+$8.61M	1.01%	39

Other funds holding PBI

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

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

AAM

Alken Asset Management London, United Kingdom $89.6M AUM 3.28% 1-Year Est. Return

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

Neuberger Berman Group New York $131B AUM 28.36% 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

BIT

BlackRock Institutional Trust San Francisco, California $675B AUM 16.07% 1-Year Est. Return

BFA

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

Espalier Global Management's PBI Position: Q2 2014 in Review

Espalier Global Management sold out of Pitney Bowes (PBI) in Q2 2014, closing a stake of 400,000 shares — an estimated $10.4M sold.

Espalier Global Management first reported a position in PBI in Q3 2013 and held it in 3 quarters. The position peaked at $10.4M in Q1 2014. 375 funds tracked by Wall St. Rank hold PBI as of Q2 2014.

Espalier Global Management reported no remaining Pitney Bowes position as of Q2 2014 after selling out during the quarter.
Espalier Global Management sold 400,000 Pitney Bowes shares in Q2 2014, an estimated $10.4M.
Espalier Global Management first reported a position in Pitney Bowes in Q3 2013 and held it in 3 quarters.
Espalier Global Management's Pitney Bowes position peaked at $10.4M in Q1 2014.
375 funds tracked by Wall St. Rank held Pitney Bowes as of Q2 2014.

Based on Espalier Global Management's 13F filing for Q2 2014, filed 14 Aug 2014.