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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
+0.82%
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
$5.34B
AUM Growth
+$170M
Cap. Flow
-$4.19B
Cap. Flow %
-78.45%
Top 10 Hldgs %
21.87%
Holding
244
New
28
Increased
13
Reduced
12
Closed
31

Top Buys

Rank Stock Value
1
SOLN
The Southern Company
SOLN
+$72.9M
2
NEE.PRO
NextEra Energy, Inc. 4.872% Corporate Units
NEE.PRO
+$45.7M
3
BAC.PRL icon
Bank of America Series L
BAC.PRL
+$16.8M
4
DAL icon
Delta Air Lines
DAL
+$5.92M
5
LVS icon
Las Vegas Sands
LVS
+$5.83M

Top Sells

Rank Stock Value
1
NEE.PRR
NextEra Energy, Inc.
NEE.PRR
+$54.6M
2
AIZP
Assurant, Inc. 6.50% Series D Mandatory Convertible Preferred Stock, $1.00 par value
AIZP
+$33.7M
3
BDXA
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
+$14.5M
4
DTV
DTE Energy Company 2016 Corporate Units
DTV
+$14.2M
5
CHNGU
Change Healthcare Inc. Tangible Equity Units
CHNGU
+$9.9M

Sector Composition

Rank Sector Weight
1 Utilities 1.4%
2 Consumer Discretionary 0.32%
3 Industrials 0.28%
4 Communication Services 0.12%
5 Technology 0.1%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WFC.PRL icon
1
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.66B
$168M 3.14%
111,510
-3,140
-3% -$4.48M
BAC.PRL icon
2
Bank of America Series L
BAC.PRL
$3.99B
$160M 3.01%
108,292
+11,774
+12% +$16.8M
SOLN
3
DELISTED
The Southern Company
SOLN
$74.4M 1.39%
+1,389,715
New +$72.9M
DCUE
4
DELISTED
Dominion Energy, Inc. 2019 Series A Corporate Units
DCUE
$74.3M 1.39%
703,000
-63,500
-8% -$6.53M
AEPPL
5
DELISTED
American Electric Power Company, Inc. Corporate Unit
AEPPL
$53.9M 1.01%
974,825
-20,502
-2% -$1.14M
SWP
6
DELISTED
Stanley Black & Decker, Inc. Corporate Units
SWP
$48.6M 0.91%
483,097
+44,300
+10% +$4.41M
NEE.PRO
7
DELISTED
NextEra Energy, Inc. 4.872% Corporate Units
NEE.PRO
$46.7M 0.87%
+930,000
New +$45.7M
DHR.PRA
8
DELISTED
Danaher Corporation 4.75% Mandatory Convertible Preferred Stock, Series A
DHR.PRA
$40.3M 0.76%
35,386
-7,373
-17% -$8.35M
BDXA
9
DELISTED
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
$38.9M 0.73%
627,283
-233,354
-27% -$14.5M
CCI.PRA
10
DELISTED
Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A
CCI.PRA
$26.6M 0.5%
21,061
+975
+5% +$1.22M
FTV.PRA
11
DELISTED
Fortive Corporation 5.00% Mandatory Convertible Preferred Stock, Series A
FTV.PRA
$25.6M 0.48%
28,419
+2,090
+8% +$1.98M
QTS.PRB
12
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$22.6M 0.42%
184,865
+17,000
+10% +$1.95M
IFFT
13
DELISTED
International Flavors & Fragrances Inc. 6.00% Tangible Equity Units
IFFT
$21.6M 0.41%
461,770
+111,250
+32% +$5.43M
ENR.PRA
14
DELISTED
Energizer Holdings, Inc. 7.50% Series A Mandatory Convertible Preferred Stock
ENR.PRA
$19.9M 0.37%
209,889
+45,000
+27% +$4.03M
FLG.PRU
15
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$118M
$17.7M 0.33%
354,268
+94,342
+36% +$4.62M
AVTR.PRA
16
DELISTED
Avantor, Inc. Series A Mandatory Convertible Preferred Stock
AVTR.PRA
$12.4M 0.23%
232,661
+12,000
+5% +$719K
SRE.PRB
17
DELISTED
Sempra 6.75% Mandatory Convertible Preferred Stock, Series B
SRE.PRB
$10.5M 0.2%
89,018
– –
CNP.PRB
18
DELISTED
CenterPoint Energy, Inc. Depositary Shares Each Representing a 1/20th Interest in a Share of 7.00% S
CNP.PRB
$8.86M 0.17%
169,181
-45,160
-21% -$2.3M
CFXA
19
DELISTED
Colfax Corporation 5.75% Tangible Equity Units
CFXA
$8.72M 0.16%
66,883
– –
SIX
20
DELISTED
Six Flags Entertainment Corp.
SIX
$6.09M 0.11%
120,000
+40,000
+50% +$2.17M
LVS icon
21
Las Vegas Sands
LVS
$29.6B
$5.78M 0.11%
+100,000
New +$5.83M
DAL icon
22
Delta Air Lines
DAL
$60.1B
$5.76M 0.11%
+100,000
New +$5.92M
CCL icon
23
Carnival Corporation Ltd
CCL
$39.7B
$5.68M 0.11%
130,000
+55,000
+73% +$2.54M
CHNGU
24
DELISTED
Change Healthcare Inc. Tangible Equity Units
CHNGU
$5.13M 0.1%
107,415
-185,163
-63% -$9.9M
BA icon
25
Boeing
BA
$185B
$4.95M 0.09%
13,000
-1,000
-7% -$357K
1
2 3 4

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Advent Capital Management's Q3 2019 Portfolio in Review

As of Q3 2019, Advent Capital Management held 244 positions worth $5.34B, up 3.3% from $5.17B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Advent Capital Management withdrew a net $4.19B in Q3 2019, closing 31 positions and reducing 12 holdings. Its most notable exit was NextEra Energy, Inc., an estimated $54.6M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 1.4% of assets, followed by Consumer Discretionary and Industrials.

Against the trend, Advent Capital Management opened a new position in The Southern Company worth $74.4M.

  • Advent Capital Management's largest Q3 2019 buy was The Southern Company: 1,389,715 shares worth $74.4M.
  • Advent Capital Management added most to Bank of America Series L in Q3 2019, an estimated $16.8M increase.
  • Advent Capital Management's biggest Q3 2019 reduction was Assurant, Inc. 6.50% Series D Mandatory Convertible Preferred Stock, $1.00 par value, cutting an estimated $33.7M.
  • Advent Capital Management fully exited NextEra Energy, Inc. in Q3 2019, selling an estimated $54.6M.
  • Advent Capital Management's ten largest holdings make up 22% of its $5.34B portfolio in Q3 2019.
  • Advent Capital Management opened 28 new positions and closed 31 in Q3 2019.
  • Advent Capital Management's portfolio value rose 3.3% quarter-over-quarter to $5.34B.

Based on Advent Capital Management's 13F filing for Q3 2019, filed 14 Nov 2019.