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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
-0.71%
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
$4.3B
AUM Growth
-$869M
Cap. Flow
-$4.37B
Cap. Flow %
-101.69%
Top 10 Hldgs %
26.13%
Holding
253
New
22
Increased
7
Reduced
10
Closed
54

Top Buys

Rank Stock Value
1
NEE.PRR
NextEra Energy, Inc. 6.926% Corporate Units
NEE.PRR
+$58.4M
2
APO.PRA
Apollo Global Management Series A
APO.PRA
+$43.6M
3
LEN icon
Lennar Class A
LEN
+$4.24M
4
RH icon
RH
RH
+$3.82M
5
SPG icon
Simon Property Group
SPG
+$3.51M

Top Sells

Rank Stock Value
1
KKR.PRC
KKR & Co. Inc. 6.00% Series C Mandatory Convertible Preferred Stock
KKR.PRC
+$71M
2
NEE.PRQ
NextEra Energy, Inc. 6.219% Corporate Units
NEE.PRQ
+$67.3M
3
NIMC
NiSource Inc. Series A Corporate Units
NIMC
+$66.8M
4
AEPPZ
American Electric Power Company, Inc. Corporate Units
AEPPZ
+$32.2M
5
GTLS.PRB
Chart Industries 6.75% Series B Preferred Stock
GTLS.PRB
+$17.5M

Sector Composition

Rank Sector Weight
1 Technology 0.33%
2 Consumer Discretionary 0.19%
3 Industrials 0.18%
4 Financials 0.17%
5 Healthcare 0.14%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CALY
76
CALL
Callaway Golf Company
CALY
$3.14B
– –
-40,000
Closed -$794K
MS icon
77
CALL
Morgan Stanley
MS
$340B
– –
-30,000
Closed -$2.56M
MT icon
78
ArcelorMittal
MT
$55.3B
– –
-50,000
Closed -$1.37M
MU icon
79
Micron Technology
MU
$991B
– –
-6,350
Closed -$425K
NCLH icon
80
CALL
Norwegian Cruise Line
NCLH
$8.84B
– –
-100,000
Closed -$2.18M
NICE icon
81
Nice
NICE
$5.97B
– –
-3,300
Closed -$681K
NIO icon
82
CALL
NIO
NIO
$11.9B
– –
-100,000
Closed -$969K
RC
83
PUT
Ready Capital
RC
$308M
– –
-200,000
Closed -$2.26M
SNAP icon
84
Snap
SNAP
$9.01B
– –
-14,940
Closed -$177K
SNV
85
PUT
DELISTED
Synovus
SNV
– –
-45,100
Closed -$1.36M
TGT icon
86
Target
TGT
$68B
– –
-20,000
Closed -$2.64M
TMUS icon
87
T-Mobile US
TMUS
$190B
– –
-20,000
Closed -$2.78M
UBER icon
88
CALL
Uber
UBER
$153B
– –
-50,000
Closed -$2.16M
ULTA icon
89
Ulta Beauty
ULTA
$24.3B
– –
-500
Closed -$235K
VLO icon
90
Valero Energy
VLO
$85.9B
– –
-20,000
Closed -$2.35M
VZ icon
91
Verizon
VZ
$196B
– –
-75,000
Closed -$2.79M
W icon
92
CALL
Wayfair
W
$14.6B
– –
-15,000
Closed -$975K
WAL icon
93
PUT
Western Alliance Bancorporation
WAL
$8.87B
– –
-25,000
Closed -$912K
WMT icon
94
CALL
Walmart Inc
WMT
$890B
– –
-450,000
Closed -$23.6M
WYNN icon
95
CALL
Wynn Resorts
WYNN
$10.6B
– –
-200,000
Closed -$21.1M
PXD
96
DELISTED
Pioneer Natural Resource Co.
PXD
– –
-5,000
Closed -$1.04M
PARAP
97
DELISTED
Paramount Global 5.75% Series A Mandatory Convertible Preferred Stock
PARAP
– –
-408,241
Closed -$9.33M
FSR
98
CALL
DELISTED
Fisker Inc.
FSR
– –
-100,000
Closed -$564K
NIMC
99
DELISTED
NiSource Inc. Series A Corporate Units
NIMC
– –
-651,680
Closed -$66.8M
KKR.PRC
100
DELISTED
KKR & Co. Inc. 6.00% Series C Mandatory Convertible Preferred Stock
KKR.PRC
– –
-1,072,349
Closed -$71M
1 2 3
4
5

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Advent Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, Advent Capital Management held 253 positions worth $4.3B, down 17% from $5.17B the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Advent Capital Management withdrew a net $4.37B in Q3 2023, closing 54 positions and reducing 10 holdings. Its most notable exit was KKR & Co. Inc. 6.00% Series C Mandatory Convertible Preferred Stock, an estimated $71M position sold in full.

By sector, the portfolio is most concentrated in Technology at 0.33% of assets, up from 0.13% a quarter earlier, followed by Consumer Discretionary and Industrials.

Against the trend, Advent Capital Management opened a new position in Apollo Global Management Series A worth $44.4M.

  • Advent Capital Management's largest Q3 2023 buy was Apollo Global Management Series A: 807,500 shares worth $44.4M.
  • Advent Capital Management added most to NextEra Energy, Inc. 6.926% Corporate Units in Q3 2023, an estimated $58.4M increase.
  • Advent Capital Management's biggest Q3 2023 reduction was Chart Industries 6.75% Series B Preferred Stock, cutting an estimated $17.5M.
  • Advent Capital Management fully exited KKR & Co. Inc. 6.00% Series C Mandatory Convertible Preferred Stock in Q3 2023, selling an estimated $71M.
  • Advent Capital Management's ten largest holdings make up 26% of its $4.3B portfolio in Q3 2023.
  • Advent Capital Management opened 22 new positions and closed 54 in Q3 2023.
  • Advent Capital Management's portfolio value fell 17% quarter-over-quarter to $4.3B.

Based on Advent Capital Management's 13F filing for Q3 2023, filed 13 Nov 2023.