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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
+0.82%
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
$5.34B
AUM Growth
+$170M
Cap. Flow
-$4.19B
Cap. Flow %
-78.44%
Top 10 Hldgs %
21.87%
Holding
244
New
28
Increased
13
Reduced
12
Closed
31
Avg Time Held Equity + Options
5.7 quarters
Top 10 Avg Time Held Equity + Options
2.4 quarters
Top 20 Avg Time Held Equity + Options
3.4 quarters
Avg Time Held Equity only
6.1 quarters
Top 10 Avg Time Held Equity only
2.4 quarters
Top 20 Avg Time Held Equity only
3.4 quarters

Top Buys

Rank Stock Value
1
SOLN
The Southern Company
SOLN
+$72.9M
2
NEE.PRO icon
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 icon
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 Miscellaneous 97.69%
2 Utilities 1.4%
3 Consumer Discretionary 0.32%
4 Industrials 0.28%
5 Communication Services 0.12%
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
$168M 3.14%
111,510
-3,140
-3% -$4.48M
2015 Q1
18 quarters
BAC.PRL icon
2
Bank of America Series L
BAC.PRL
$3.67B
$160M 3.01%
108,292
+11,774
+12% +$16.8M
2015 Q1
18 quarters
SOLN
3
DELISTED
The Southern Company
SOLN
$74.4M 1.39%
+1,389,715
New +$72.9M
2019 Q3
0 quarters
DCUE
4
DELISTED
Dominion Energy, Inc. 2019 Series A Corporate Units
DCUE
$74.3M 1.39%
703,000
-63,500
-8% -$6.53M
2019 Q2
1 quarter
AEPPL
5
DELISTED
American Electric Power Company, Inc. Corporate Unit
AEPPL
$53.9M 1.01%
974,825
-20,502
-2% -$1.14M
2019 Q1
2 quarters
SWP icon
6
DELISTED
Stanley Black & Decker, Inc. Corporate Units
SWP
$48.6M 0.91%
483,097
+44,300
+10% +$4.41M
2017 Q2
9 quarters
NEE.PRO icon
7
DELISTED
NextEra Energy, Inc. 4.872% Corporate Units
NEE.PRO
$46.7M 0.87%
+930,000
New +$45.7M
2019 Q3
0 quarters
DHR.PRA icon
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
2019 Q1
2 quarters
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
2019 Q2
1 quarter
CCI.PRA icon
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
2017 Q3
8 quarters
FTV.PRA icon
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
2018 Q3
4 quarters
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
2018 Q3
4 quarters
IFFT
13
DELISTED
International Flavors & Fragrances Inc. 6.00% Tangible Equity Units
IFFT
$21.6M 0.41%
461,770
+111,250
+32% +$5.43M
2018 Q3
4 quarters
ENR.PRA icon
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
2019 Q1
2 quarters
FLG.PRU icon
15
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$104M
$17.7M 0.33%
354,268
+94,342
+36% +$4.62M
2017 Q2
9 quarters
AVTR.PRA icon
16
DELISTED
Avantor, Inc. Series A Mandatory Convertible Preferred Stock
AVTR.PRA
$12.4M 0.23%
232,661
+12,000
+5% +$719K
2019 Q2
1 quarter
SRE.PRB icon
17
DELISTED
Sempra 6.75% Mandatory Convertible Preferred Stock, Series B
SRE.PRB
$10.5M 0.2%
89,018
– –
2018 Q3
4 quarters
CNP.PRB icon
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
2018 Q4
3 quarters
CFXA
19
DELISTED
Colfax Corporation 5.75% Tangible Equity Units
CFXA
$8.72M 0.16%
66,883
– –
2019 Q1
2 quarters
SIX icon
20
DELISTED
Six Flags Entertainment Corp.
SIX
$6.09M 0.11%
120,000
+40,000
+50% +$2.17M
2018 Q4
3 quarters
LVS icon
21
Las Vegas Sands
LVS
$23.4B
$5.78M 0.11%
+100,000
New +$5.83M
2019 Q3
0 quarters
DAL icon
22
Delta Air Lines
DAL
$54B
$5.76M 0.11%
+100,000
New +$5.92M
2019 Q3
0 quarters
CCL icon
23
Carnival Corporation Ltd
CCL
$35.4B
$5.68M 0.11%
130,000
+55,000
+73% +$2.54M
2019 Q2
1 quarter
CHNGU
24
DELISTED
Change Healthcare Inc. Tangible Equity Units
CHNGU
$5.13M 0.1%
107,415
-185,163
-63% -$9.9M
2019 Q2
1 quarter
BA icon
25
Boeing
BA
$150B
$4.95M 0.09%
13,000
-1,000
-7% -$357K
2018 Q4
3 quarters
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 Miscellaneous at 98% of assets, down from 99% a quarter earlier, followed by Utilities and Consumer Discretionary.

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.