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ACM

Advent Capital Management Portfolio holdings

AUM $4.46B
1-Year Est. Return 0.73%
This Fund
S&P 500
This Quarter Est. Return
-1.12%
1 Year Est. Return
+0.73%
3 Year Est. Return
+2.9%
5 Year Est. Return
+0.82%
10 Year Est. Return
+4.72%
AUM
$4.13B
AUM Growth
-$719M
Cap. Flow
-$3.8B
Cap. Flow %
-92.02%
Top 10 Hldgs %
20.24%
Holding
359
New
40
Increased
25
Reduced
28
Closed
118
Avg Time Held Equity + Options
5.4 quarters
Top 10 Avg Time Held Equity + Options
1.5 quarters
Top 20 Avg Time Held Equity + Options
3.8 quarters
Avg Time Held Equity only
6.3 quarters
Top 10 Avg Time Held Equity only
1.5 quarters
Top 20 Avg Time Held Equity only
3.8 quarters

Top Buys

Rank Stock Value
1
BAC.PRL icon
Bank of America Series L
BAC.PRL
+$33.3M
2
WFC.PRL icon
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
+$31.9M
3
NEE.PRR icon
NextEra Energy, Inc.
NEE.PRR
+$28.2M
4
CNP.PRB icon
CenterPoint Energy, Inc. Depositary Shares Each Representing a 1/20th Interest in a Share of 7.00% S
CNP.PRB
+$22.4M
5
BDXA
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
+$7.59M

Top Sells

Rank Stock Value
1
SRE.PRB icon
Sempra 6.75% Mandatory Convertible Preferred Stock, Series B
SRE.PRB
+$8.59M
2
HES.PRA icon
Hess Corporation
HES.PRA
+$8.43M
3
DIS icon
Walt Disney
DIS
+$6.32M
4
LAZ icon
Lazard
LAZ
+$5.63M
5
VZ icon
Verizon
VZ
+$5.34M

Sector Composition

Rank Sector Weight
1 Miscellaneous 97.82%
2 Industrials 0.48%
3 Communication Services 0.48%
4 Consumer Discretionary 0.45%
5 Consumer Staples 0.33%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
WFC.PRL icon
1
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.25B
$134M 3.25%
105,701
+25,166
+31% +$31.9M
2015 Q1
15 quarters
BAC.PRL icon
2
Bank of America Series L
BAC.PRL
$3.67B
$115M 2.79%
92,512
+26,238
+40% +$33.3M
2015 Q1
15 quarters
NEE.PRR icon
3
DELISTED
NextEra Energy, Inc.
NEE.PRR
$50.2M 1.21%
868,337
+483,610
+126% +$28.2M
2016 Q3
9 quarters
BDXA
4
DELISTED
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
$48.7M 1.18%
841,550
+126,100
+18% +$7.59M
2017 Q2
6 quarters
SWP icon
5
DELISTED
Stanley Black & Decker, Inc. Corporate Units
SWP
$42.7M 1.03%
466,388
+31,491
+7% +$3.02M
2017 Q2
6 quarters
DCUD
6
DELISTED
Dominion Energy, Inc 2016 Series A Corporate Units
DCUD
$36.3M 0.88%
756,351
+57,994
+8% +$2.81M
2016 Q3
9 quarters
CCI.PRA icon
7
DELISTED
Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A
CCI.PRA
$32.8M 0.79%
31,139
-2,200
-7% -$2.32M
2017 Q3
5 quarters
IFFT
8
DELISTED
International Flavors & Fragrances Inc. 6.00% Tangible Equity Units
IFFT
$24.2M 0.58%
473,750
-96,250
-17% -$5.28M
2018 Q3
1 quarter
CNP.PRB icon
9
DELISTED
CenterPoint Energy, Inc. Depositary Shares Each Representing a 1/20th Interest in a Share of 7.00% S
CNP.PRB
$22.4M 0.54%
+445,050
New +$22.4M
2018 Q4
0 quarters
QTS.PRB
10
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$13.7M 0.33%
144,337
+20,100
+16% +$2.01M
2018 Q3
1 quarter
FLG.PRU icon
11
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$104M
$12.6M 0.3%
280,852
-63,552
-18% -$2.97M
2017 Q2
6 quarters
FTV.PRA icon
12
DELISTED
Fortive Corporation 5.00% Mandatory Convertible Preferred Stock, Series A
FTV.PRA
$12.5M 0.3%
13,747
+2,500
+22% +$2.46M
2018 Q3
1 quarter
SRE.PRB icon
13
DELISTED
Sempra 6.75% Mandatory Convertible Preferred Stock, Series B
SRE.PRB
$11M 0.27%
114,568
-84,800
-43% -$8.59M
2018 Q3
1 quarter
AIZP
14
DELISTED
Assurant, Inc. 6.50% Series D Mandatory Convertible Preferred Stock, $1.00 par value
AIZP
$9.7M 0.23%
98,539
+11,750
+14% +$1.24M
2018 Q1
3 quarters
WMT icon
15
Walmart Inc
WMT
$883B
$9.21M 0.22%
296,550
+114,942
+63% +$3.69M
2017 Q3
5 quarters
DTV
16
DELISTED
DTE Energy Company 2016 Corporate Units
DTV
$8.83M 0.21%
169,991
+108,841
+178% +$5.82M
2018 Q2
2 quarters
UPS icon
17
United Parcel Service
UPS
$80.5B
$6.63M 0.16%
67,980
+15,000
+28% +$1.63M
2017 Q1
7 quarters
SIX icon
18
DELISTED
Six Flags Entertainment Corp.
SIX
$5.84M 0.14%
+105,000
New +$6.27M
2018 Q4
0 quarters
M icon
19
Macy's
M
$5.92B
$5.51M 0.13%
185,000
+160,000
+640% +$5.27M
2018 Q3
1 quarter
CCL icon
20
Carnival Corporation Ltd
CCL
$35.4B
$5.28M 0.13%
107,000
+46,917
+78% +$2.69M
2018 Q3
1 quarter
META icon
21
Meta Platforms (Facebook)
META
$1.83T
$5.24M 0.13%
40,000
+15,000
+60% +$2.17M
2018 Q3
1 quarter
HES.PRA icon
22
DELISTED
Hess Corporation
HES.PRA
$5.02M 0.12%
100,544
-132,099
-57% -$8.43M
2018 Q1
3 quarters
LMT icon
23
Lockheed Martin
LMT
$118B
$4.97M 0.12%
19,000
+18,984
+118,650% +$5.76M
2018 Q3
1 quarter
GILD icon
24
Gilead Sciences
GILD
$187B
$4.88M 0.12%
78,000
-35
-0% -$2.45K
2018 Q1
3 quarters
T icon
25
AT&T
T
$152B
$4.62M 0.11%
214,488
+22,290
+12% +$519K
2018 Q2
2 quarters
1
2 3 4 5

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Advent Capital Management's Q4 2018 Portfolio in Review

As of Q4 2018, Advent Capital Management held 359 positions worth $4.13B, down 15% from $4.85B the previous quarter. Its ten largest holdings account for 20% of the portfolio.

Advent Capital Management withdrew a net $3.8B in Q4 2018, closing 118 positions and reducing 28 holdings. Its most notable exit was Lazard, an estimated $5.63M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 98% of assets, up from 97% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, Advent Capital Management opened a new position in CenterPoint Energy, Inc. Depositary Shares Each Representing a 1/20th Interest in a Share of 7.00% S worth $22.4M.

  • Advent Capital Management's largest Q4 2018 buy was CenterPoint Energy, Inc. Depositary Shares Each Representing a 1/20th Interest in a Share of 7.00% S: 445,050 shares worth $22.4M.
  • Advent Capital Management added most to Bank of America Series L in Q4 2018, an estimated $33.3M increase.
  • Advent Capital Management's biggest Q4 2018 reduction was Sempra 6.75% Mandatory Convertible Preferred Stock, Series B, cutting an estimated $8.59M.
  • Advent Capital Management fully exited Lazard in Q4 2018, selling an estimated $5.63M.
  • Advent Capital Management's ten largest holdings make up 20% of its $4.13B portfolio in Q4 2018.
  • Advent Capital Management opened 40 new positions and closed 118 in Q4 2018.
  • Advent Capital Management's portfolio value fell 15% quarter-over-quarter to $4.13B.

Based on Advent Capital Management's 13F filing for Q4 2018, filed 14 Feb 2019.