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P8IP
Pier 88 Investment Partners Portfolio holdings
AUM
$390M
1-Year Est. Return
10.13%
This Fund
S&P 500
This Quarter
Est. Return
+2.13%
1 Year Est. Return
+10.13%
3 Year Est. Return
+26.75%
5 Year Est. Return
+35.35%
10 Year Est. Return
–
AUM
$404M
AUM Growth
-$9.53M
(-2.3%)
Cap. Flow
-$264M
Cap. Flow
% of AUM
-65.4%
Top 10 Holdings %
Top 10 Hldgs %
45.05%
Holding
98
New
6
Increased
31
Reduced
16
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NEE.PRQ
NextEra Energy, Inc. 6.219% Corporate Units
NEE.PRQ
|
+$9.91M |
| 2 |
Bank of America Series L
BAC.PRL
|
+$8.85M |
| 3 |
RBCP
RBC Bearings Incorporated 5.00% Series A Mandatory Convertible Preferred Stock
RBCP
|
+$3.46M |
| 4 |
Palo Alto Networks
PANW
|
+$3.22M |
| 5 |
ON Semiconductor
ON
|
+$2.79M |
Top Sells
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 7.67% |
| 2 | Industrials | 3.65% |
| 3 | Healthcare | 2.36% |
| 4 | Consumer Discretionary | 1.22% |
| 5 | Financials | 0.68% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
AEPPZ
1
DELISTED
American Electric Power Company, Inc. Corporate Units
AEPPZ
| $18.4M | 4.57% |
371,300
+12,200
| +3% | +$608K |
|
|
NIMC
2
DELISTED
NiSource Inc. Series A Corporate Units
NIMC
| $18.4M | 4.56% |
180,720
| – | – |
|
|
3
Bank of America Series L
BAC.PRL
$3.96B
| $17.5M | 4.34% |
14,953
+7,550
| +102% | +$8.85M |
|
|
NEE.PRQ
4
DELISTED
NextEra Energy, Inc. 6.219% Corporate Units
NEE.PRQ
| $13.7M | 3.4% |
280,020
+203,220
| +265% | +$9.91M |
|
|
5
ON Semiconductor
ON
$31.7B
| $4.17M | 1.03% |
44,040
+33,680
| +325% | +$2.79M |
|
|
6
Palo Alto Networks
PANW
$279B
| $3.96M | 0.98% |
+30,982
| New | +$3.22M |
|
7
KBR
KBR
$4.66B
| $3.95M | 0.98% |
60,690
+30,740
| +103% | +$1.83M |
|
|
RBCP
8
DELISTED
RBC Bearings Incorporated 5.00% Series A Mandatory Convertible Preferred Stock
RBCP
| $3.43M | 0.85% |
+32,500
| New | +$3.46M |
|
9
Invesco QQQ Trust
QQQ
$469B
| $3.21M | 0.8% |
8,700
+6,900
| +383% | +$2.32M |
|
10
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.72B
| $3.17M | 0.79% |
2,752
+1,300
| +90% | +$1.5M |
|
11
ATI
ATI
$26B
| $3.03M | 0.75% |
68,423
+2,065
| +3% | +$79K |
|
12
SPDR Gold Trust
GLD
$131B
| $2.84M | 0.7% |
15,919
-5,600
| -26% | -$1.03M |
|
13
Broadcom
AVGO
$1.85T
| $2.58M | 0.64% |
+29,700
| New | +$2.12M |
|
|
PXD
14
DELISTED
Pioneer Natural Resource Co.
PXD
| $2.49M | 0.62% |
12,000
+2,200
| +22% | +$463K |
|
15
DexCom
DXCM
$32.7B
| $2.4M | 0.59% |
18,680
-2,490
| -12% | -$301K |
|
16
State Street SPDR S&P 500 ETF Trust
SPY
$806B
| $2.39M | 0.59% |
5,400
| – | – |
|
17
Euronet Worldwide
EEFT
$2.79B
| $2.28M | 0.56% |
19,391
+2,100
| +12% | +$235K |
|
18
TransDigm Group
TDG
$71.4B
| $2.24M | 0.55% |
2,505
+10
| +0.4% | +$7.91K |
|
|
FPI
19
Farmland Partners
FPI
$416M
| $2.05M | 0.51% |
168,008
+33,310
| +25% | +$373K |
|
20
Energy Recovery
ERII
$456M
| $2M | 0.5% |
71,650
+24,480
| +52% | +$610K |
|
21
Booking.com
BKNG
$150B
| $1.89M | 0.47% |
17,500
+1,200
| +7% | +$127K |
|
|
RCM
22
DELISTED
R1 RCM Inc. Common Stock
RCM
| $1.75M | 0.43% |
94,690
-11,090
| -10% | -$180K |
|
23
Invesco NASDAQ 100 ETF
QQQM
$98.9B
| $1.64M | 0.41% |
+10,800
| New | +$1.5M |
|
24
Boston Scientific
BSX
$72B
| $1.55M | 0.38% |
+28,691
| New | +$1.5M |
|
|
CYBR
25
DELISTED
CyberArk
CYBR
| $1.51M | 0.38% |
9,690
+4,500
| +87% | +$644K |
|
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Pier 88 Investment Partners's Q2 2023 Portfolio in Review
As of Q2 2023, Pier 88 Investment Partners held 98 positions worth $404M, down 2.3% from $413M the previous quarter. Its ten largest holdings account for 45% of the portfolio.
Pier 88 Investment Partners withdrew a net $264M in Q2 2023, closing 7 positions and reducing 16 holdings. Its most notable exit was Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6.00% Mandatory Convertible Preferred Stock, Series B, an estimated $19.6M position sold in full.
By sector, the portfolio is most concentrated in Technology at 7.7% of assets, up from 5.5% a quarter earlier, followed by Industrials and Healthcare.
Against the trend, Pier 88 Investment Partners opened a new position in RBC Bearings Incorporated 5.00% Series A Mandatory Convertible Preferred Stock worth $3.43M.
- Pier 88 Investment Partners's largest Q2 2023 buy was RBC Bearings Incorporated 5.00% Series A Mandatory Convertible Preferred Stock: 32,500 shares worth $3.43M.
- Pier 88 Investment Partners added most to NextEra Energy, Inc. 6.219% Corporate Units in Q2 2023, an estimated $9.91M increase.
- Pier 88 Investment Partners's biggest Q2 2023 reduction was Salesforce, cutting an estimated $2.77M.
- Pier 88 Investment Partners fully exited Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6.00% Mandatory Convertible Preferred Stock, Series B in Q2 2023, selling an estimated $19.6M.
- Pier 88 Investment Partners's ten largest holdings make up 45% of its $404M portfolio in Q2 2023.
- Pier 88 Investment Partners opened 6 new positions and closed 7 in Q2 2023.
- Pier 88 Investment Partners's portfolio value fell 2.3% quarter-over-quarter to $404M.
Based on Pier 88 Investment Partners's 13F filing for Q2 2023, filed 7 Aug 2023.