Advent Capital Management Portfolio holdings

Advent Capital Management's Q1 2019 Portfolio in Review

As of Q1 2019, Advent Capital Management held 269 positions worth $4.53B, up 9.7% from $4.13B the previous quarter. Its ten largest holdings account for 21% of the portfolio.

Advent Capital Management withdrew a net $3.29B in Q1 2019, closing 56 positions and reducing 20 holdings. Its most notable exit was Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6, an estimated $48.7M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 0.29% of assets, down from 0.48% a quarter earlier, followed by Consumer Discretionary and Healthcare.

Against the trend, Advent Capital Management opened a new position in Danaher Corporation 4.75% Mandatory Convertible Preferred Stock, Series A worth $49.6M.

• Advent Capital Management's largest Q1 2019 buy was Danaher Corporation 4.75% Mandatory Convertible Preferred Stock, Series A: 47,269 shares worth $49.6M.
• Advent Capital Management added most to Boeing in Q1 2019, an estimated $19.8M increase.
• Advent Capital Management's biggest Q1 2019 reduction was Dominion Energy, Inc 2016 Series A Corporate Units, cutting an estimated $15.3M.
• Advent Capital Management fully exited Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6 in Q1 2019, selling an estimated $48.7M.
• Advent Capital Management's ten largest holdings make up 21% of its $4.53B portfolio in Q1 2019.
• Advent Capital Management opened 39 new positions and closed 56 in Q1 2019.
• Advent Capital Management's portfolio value rose 9.7% quarter-over-quarter to $4.53B.

Based on Advent Capital Management's 13F filing for Q1 2019, filed 15 May 2019.