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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
NXPI icon
51
NXP Semiconductors
NXPI
$60.4B
$1.24M 0.03%
+14,500
New +$1.39M
TAP icon
52
Molson Coors Class B
TAP
$8.09B
$1.23M 0.03%
+20,000
New +$1.32M
OMF icon
53
OneMain Financial
OMF
$7.47B
$1.21M 0.02%
36,000
+16,000
+80% +$560K
WDC icon
54
Western Digital
WDC
$150B
$1.17M 0.02%
+26,460
New +$1.34M
RPD icon
55
Rapid7
RPD
$773M
$1.01M 0.02%
+27,500
New +$923K
BAC icon
56
Bank of America
BAC
$442B
$887K 0.02%
+30,110
New +$917K
FMBI
57
DELISTED
First Midwest Bancorp Inc/IL
FMBI
$877K 0.02%
33,000
+10,000
+43% +$267K
CZR
58
DELISTED
Caesars Entertainment Corporation
CZR
$874K 0.02%
85,281
-16,550
-16% -$174K
PXD
59
DELISTED
Pioneer Natural Resource Co.
PXD
$871K 0.02%
+5,000
New +$894K
M icon
60
Macy's
M
$6.68B
$868K 0.02%
+25,000
New +$930K
BMRN icon
61
BioMarin Pharmaceuticals
BMRN
$12.4B
$834K 0.02%
+8,600
New +$858K
NCLH icon
62
Norwegian Cruise Line
NCLH
$8.84B
$775K 0.02%
+13,500
New +$699K
SUPN icon
63
Supernus Pharmaceuticals
SUPN
$2.77B
$755K 0.02%
+15,000
New +$741K
SC
64
DELISTED
SANTANDER CONSUMER USA HOLDINGS INC
SC
$721K 0.01%
36,000
– –
EVH icon
65
Evolent Health
EVH
$447M
$704K 0.01%
+24,800
New +$592K
KBH icon
66
KB Home
KBH
$3.59B
$678K 0.01%
28,342
+8,342
+42% +$209K
UA icon
67
Under Armour Class C
UA
$2.53B
$584K 0.01%
+30,000
New +$579K
SRE.PRA
68
DELISTED
Sempra Energy 6% Mandatory Convertible Preferred Stock, Series A
SRE.PRA
$543K 0.01%
5,350
-58,380
-92% -$5.99M
NAV
69
DELISTED
Navistar International
NAV
$539K 0.01%
14,000
-1,000
-7% -$41.7K
KMI icon
70
Kinder Morgan
KMI
$68.7B
$536K 0.01%
30,225
+225
+0.8% +$4.02K
CRC
71
DELISTED
California Resources Corporation
CRC
$485K 0.01%
10,000
-10,000
-50% -$385K
JBLU icon
72
JetBlue
JBLU
$2.29B
$484K 0.01%
+25,000
New +$474K
GME icon
73
GameStop
GME
$8.6B
$458K 0.01%
120,000
– –
MDRX
74
DELISTED
Veradigm Inc. Common Stock
MDRX
$439K 0.01%
30,800
+20,800
+208% +$283K
XLF icon
75
State Street Financial Select Sector SPDR ETF
XLF
$58.2B
$414K 0.01%
15,000
– –
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.