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ACM

Advent Capital Management Portfolio holdings

AUM $3.63B
1-Year Est. Return 0.29%
This Fund
S&P 500
This Quarter Est. Return
+0.48%
1 Year Est. Return
-0.29%
3 Year Est. Return
+1.05%
5 Year Est. Return
-0.73%
10 Year Est. Return
+3.33%
AUM
$4.85B
AUM Growth
+$101M
Cap. Flow
-$3.87B
Cap. Flow %
-79.75%
Top 10 Hldgs %
18.07%
Holding
361
New
113
Increased
29
Reduced
25
Closed
42

Top Buys

Rank Stock Value
1
IFFT
International Flavors & Fragrances Inc. 6.00% Tangible Equity Units
IFFT
+$30.9M
2
SRE.PRB
Sempra 6.75% Mandatory Convertible Preferred Stock, Series B
SRE.PRB
+$20.5M
3
WFC.PRL icon
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
+$16.3M
4
BAC.PRL icon
Bank of America Series L
BAC.PRL
+$16M
5
QTS.PRB
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
+$13.4M

Top Sells

Rank Stock Value
1
BDXA
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
+$26.1M
2
NBR.PRA
Nabors Industries Ltd. 6.00% Mandatory Convertible Preferred Shares, Series A
NBR.PRA
+$24M
3
NEE.PRR
NextEra Energy, Inc.
NEE.PRR
+$19.3M
4
SJIU
South Jersey Industries, Inc.
SJIU
+$11M
5
NEE.PRQ
NextEra Energy, Inc.
NEE.PRQ
+$7.98M

Sector Composition

Rank Sector Weight
1 Communication Services 0.61%
2 Financials 0.52%
3 Industrials 0.51%
4 Healthcare 0.39%
5 Consumer Discretionary 0.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
T icon
26
AT&T
T
$163B
$4.88M 0.1%
192,198
+26,698
+16% +$654K
BP icon
27
BP
BP
$107B
$4.61M 0.1%
+104,736
New +$4.38M
MGY icon
28
Magnolia Oil & Gas
MGY
$5.94B
$4.5M 0.09%
+300,000
New +$3.92M
TXN icon
29
Texas Instruments
TXN
$261B
$4.3M 0.09%
40,043
+43
+0.1% +$4.78K
META icon
30
Meta Platforms (Facebook)
META
$1.51T
$4.11M 0.08%
+25,000
New +$4.53M
CCL icon
31
Carnival Corporation Ltd
CCL
$39.7B
$3.83M 0.08%
+60,083
New +$3.65M
LRCX icon
32
Lam Research
LRCX
$390B
$3.79M 0.08%
+250,000
New +$4.27M
GS icon
33
Goldman Sachs
GS
$303B
$3.25M 0.07%
14,516
+16
+0.1% +$3.72K
MRK icon
34
Merck
MRK
$318B
$3.2M 0.07%
47,289
-121,439
-72% -$7.74M
DTV
35
DELISTED
DTE Energy Company 2016 Corporate Units
DTV
$3.19M 0.07%
61,150
+25,000
+69% +$1.32M
FDX icon
36
FedEx
FDX
$75.4B
$3.01M 0.06%
+12,500
New +$3.03M
CSCO icon
37
Cisco
CSCO
$479B
$2.92M 0.06%
+60,086
New +$2.7M
SYF icon
38
Synchrony
SYF
$25.6B
$2.85M 0.06%
91,810
+33,000
+56% +$1.05M
MTB icon
39
M&T Bank
MTB
$36.2B
$2.76M 0.06%
16,750
+4,000
+31% +$694K
RTN
40
DELISTED
Raytheon Company
RTN
$2.59M 0.05%
+12,523
New +$2.49M
PARA
41
DELISTED
Paramount Global Class B
PARA
$2.59M 0.05%
45,020
+30,000
+200% +$1.66M
GM icon
42
General Motors
GM
$76.8B
$2.53M 0.05%
75,070
+70
+0.1% +$2.58K
JNJ icon
43
Johnson & Johnson
JNJ
$625B
$2.49M 0.05%
+18,049
New +$2.4M
ELV icon
44
Elevance Health
ELV
$85.5B
$2M 0.04%
7,300
-1,000
-12% -$260K
A icon
45
Agilent Technologies
A
$41.2B
$1.91M 0.04%
+27,000
New +$1.79M
RF icon
46
Regions Financial
RF
$26.8B
$1.56M 0.03%
85,100
+100
+0.1% +$1.88K
HAL icon
47
Halliburton
HAL
$26.6B
$1.42M 0.03%
+35,091
New +$1.45M
CHTR icon
48
Charter Communications
CHTR
$18.2B
$1.35M 0.03%
4,137
+1,000
+32% +$305K
DISH
49
DELISTED
DISH Network Corp.
DISH
$1.29M 0.03%
36,000
-19,000
-35% -$652K
AVK
50
Advent Convertible and Income Fund
AVK
$563M
$1.25M 0.03%
+82,160
New +$1.25M
1
2
3 4 5

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Advent Capital Management's Q3 2018 Portfolio in Review

As of Q3 2018, Advent Capital Management held 361 positions worth $4.85B, up 2.1% from $4.75B the previous quarter. Its ten largest holdings account for 18% of the portfolio.

Advent Capital Management withdrew a net $3.87B in Q3 2018, closing 42 positions and reducing 25 holdings. Its most notable exit was Nabors Industries Ltd. 6.00% Mandatory Convertible Preferred Shares, Series A, an estimated $24M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 0.61% of assets, up from 0.28% a quarter earlier, followed by Financials and Industrials.

Against the trend, Advent Capital Management opened a new position in International Flavors & Fragrances Inc. 6.00% Tangible Equity Units worth $31.1M.

  • Advent Capital Management's largest Q3 2018 buy was International Flavors & Fragrances Inc. 6.00% Tangible Equity Units: 570,000 shares worth $31.1M.
  • Advent Capital Management added most to Wells Fargo 7.5% Non Cumv Perp Conv in Q3 2018, an estimated $16.3M increase.
  • Advent Capital Management's biggest Q3 2018 reduction was Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6, cutting an estimated $26.1M.
  • Advent Capital Management fully exited Nabors Industries Ltd. 6.00% Mandatory Convertible Preferred Shares, Series A in Q3 2018, selling an estimated $24M.
  • Advent Capital Management's ten largest holdings make up 18% of its $4.85B portfolio in Q3 2018.
  • Advent Capital Management opened 113 new positions and closed 42 in Q3 2018.
  • Advent Capital Management's portfolio value rose 2.1% quarter-over-quarter to $4.85B.

Based on Advent Capital Management's 13F filing for Q3 2018, filed 14 Nov 2018.