Advent Capital Management Portfolio holdings

Advent Capital Management's Q2 2018 Portfolio in Review

As of Q2 2018, Advent Capital Management held 332 positions worth $4.75B, down 6.7% from $5.09B the previous quarter. Its ten largest holdings account for 17% of the portfolio.

Advent Capital Management withdrew a net $4.35B in Q2 2018, closing 56 positions and reducing 21 holdings. Its most notable exit was Anthem, Inc., an estimated $25.3M position sold in full.

By sector, the portfolio is most concentrated in Industrials at 0.39% of assets, down from 0.76% a quarter earlier, followed by Healthcare and Financials.

Against the trend, Advent Capital Management opened a new position in Nabors Industries Ltd. 6.00% Mandatory Convertible Preferred Shares, Series A worth $24M.

• Advent Capital Management's largest Q2 2018 buy was Nabors Industries Ltd. 6.00% Mandatory Convertible Preferred Shares, Series A: 525,252 shares worth $24M.
• Advent Capital Management added most to Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6 in Q2 2018, an estimated $21.3M increase.
• Advent Capital Management's biggest Q2 2018 reduction was Assurant, Inc. 6.50% Series D Mandatory Convertible Preferred Stock, $1.00 par value, cutting an estimated $26.9M.
• Advent Capital Management fully exited Anthem, Inc. in Q2 2018, selling an estimated $25.3M.
• Advent Capital Management's ten largest holdings make up 17% of its $4.75B portfolio in Q2 2018.
• Advent Capital Management opened 60 new positions and closed 56 in Q2 2018.
• Advent Capital Management's portfolio value fell 6.7% quarter-over-quarter to $4.75B.

Based on Advent Capital Management's 13F filing for Q2 2018, filed 14 Aug 2018.