13F

Position

PCM Encore, LLC in Automatic Data Processing In

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Estimated mark uses implied 13F prices (value ÷ shares). Adds are treated as happening at this quarter’s mark; cuts at last quarter’s. Share jumps can be splits, not buys. This is not realized P&L.

Latest estimated mark −$120.1K$257.27$203.15

QuarterSharesValueImplied pxEst. markFlowWeight
Q4 20252.22K$570.9K0.1%
Q1 20262.34K$475.4K$203.15−$120.1K$24.6K0.1%