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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
+0.44%
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
$5.16B
AUM Growth
-$176M
Cap. Flow
-$4.13B
Cap. Flow %
-80.1%
Top 10 Hldgs %
23.65%
Holding
237
New
43
Increased
9
Reduced
21
Closed
22
Avg Time Held Equity + Options
5.4 quarters
Top 10 Avg Time Held Equity + Options
2.9 quarters
Top 20 Avg Time Held Equity + Options
4.2 quarters
Avg Time Held Equity only
5.8 quarters
Top 10 Avg Time Held Equity only
2.9 quarters
Top 20 Avg Time Held Equity only
4.2 quarters

Top Buys

Rank Stock Value
1
AVGOP icon
Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock, Series A
AVGOP
+$77M
2
DTP
DTE Energy Company 2019 Corporate Units
DTP
+$46.2M
3
SWT
Stanley Black & Decker, Inc.
SWT
+$33.8M
4
BAC.PRL icon
Bank of America Series L
BAC.PRL
+$12.3M
5
NEE.PRO icon
NextEra Energy, Inc. 4.872% Corporate Units
NEE.PRO
+$5.73M

Top Sells

Rank Stock Value
1
SOLN
The Southern Company
SOLN
+$20.5M
2
DCUE
Dominion Energy, Inc. 2019 Series A Corporate Units
DCUE
+$17.5M
3
BDXA
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
+$11.5M
4
SWP icon
Stanley Black & Decker, Inc. Corporate Units
SWP
+$10M
5
AEPPL
American Electric Power Company, Inc. Corporate Unit
AEPPL
+$9.53M

Sector Composition

Rank Sector Weight
1 Miscellaneous 97.67%
2 Utilities 1.05%
3 Consumer Discretionary 0.26%
4 Industrials 0.25%
5 Communication Services 0.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
BAC.PRL icon
1
Bank of America Series L
BAC.PRL
$3.67B
$170M 3.29%
116,562
+8,270
+8% +$12.3M
2015 Q1
19 quarters
WFC.PRL icon
2
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.25B
$164M 3.19%
113,370
+1,860
+2% +$2.75M
2015 Q1
19 quarters
AVGOP icon
3
DELISTED
Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock, Series A
AVGOP
$80.1M 1.55%
+68,475
New +$77M
2019 Q4
0 quarters
DCUE
4
DELISTED
Dominion Energy, Inc. 2019 Series A Corporate Units
DCUE
$57.5M 1.11%
538,236
-164,764
-23% -$17.5M
2019 Q2
2 quarters
SOLN
5
DELISTED
The Southern Company
SOLN
$54M 1.05%
1,003,266
-386,449
-28% -$20.5M
2019 Q3
1 quarter
NEE.PRO icon
6
DELISTED
NextEra Energy, Inc. 4.872% Corporate Units
NEE.PRO
$53.4M 1.04%
1,044,350
+114,350
+12% +$5.73M
2019 Q3
1 quarter
DTP
7
DELISTED
DTE Energy Company 2019 Corporate Units
DTP
$47.4M 0.92%
+922,327
New +$46.2M
2019 Q4
0 quarters
AEPPL
8
DELISTED
American Electric Power Company, Inc. Corporate Unit
AEPPL
$43.1M 0.84%
798,455
-176,370
-18% -$9.53M
2019 Q1
3 quarters
SWP icon
9
DELISTED
Stanley Black & Decker, Inc. Corporate Units
SWP
$42.3M 0.82%
387,578
-95,519
-20% -$10M
2017 Q2
10 quarters
DHR.PRA icon
10
DELISTED
Danaher Corporation 4.75% Mandatory Convertible Preferred Stock, Series A
DHR.PRA
$36.3M 0.7%
30,640
-4,746
-13% -$5.34M
2019 Q1
3 quarters
SWT
11
DELISTED
Stanley Black & Decker, Inc.
SWT
$34.9M 0.68%
+320,427
New +$33.8M
2019 Q4
0 quarters
BDXA
12
DELISTED
Becton, Dickinson and Company Depositary Shares, each Representing a 1/20th Interest in a Share of 6
BDXA
$29M 0.56%
442,053
-185,230
-30% -$11.5M
2019 Q2
2 quarters
FTV.PRA icon
13
DELISTED
Fortive Corporation 5.00% Mandatory Convertible Preferred Stock, Series A
FTV.PRA
$26.4M 0.51%
27,064
-1,355
-5% -$1.26M
2018 Q3
5 quarters
IFFT
14
DELISTED
International Flavors & Fragrances Inc. 6.00% Tangible Equity Units
IFFT
$23M 0.45%
479,253
+17,483
+4% +$841K
2018 Q3
5 quarters
CCI.PRA icon
15
DELISTED
Crown Castle International Corp. 6.875% Mandatory Convertible Preferred Stock, Series A
CCI.PRA
$18.5M 0.36%
14,416
-6,645
-32% -$8.16M
2017 Q3
9 quarters
ENR.PRA icon
16
DELISTED
Energizer Holdings, Inc. 7.50% Series A Mandatory Convertible Preferred Stock
ENR.PRA
$17.6M 0.34%
167,987
-41,902
-20% -$4.15M
2019 Q1
3 quarters
FLG.PRU icon
17
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$104M
$15.7M 0.3%
309,439
-44,829
-13% -$2.27M
2017 Q2
10 quarters
QTS.PRB
18
DELISTED
QTS Realty Trust, Inc. 6.50% Series B Cumulative Convertible Perpetual Preferred Stock
QTS.PRB
$14.8M 0.29%
114,924
-69,941
-38% -$8.77M
2018 Q3
5 quarters
AVTR.PRA icon
19
DELISTED
Avantor, Inc. Series A Mandatory Convertible Preferred Stock
AVTR.PRA
$10.8M 0.21%
170,727
-61,934
-27% -$3.53M
2019 Q2
2 quarters
SIX icon
20
DELISTED
Six Flags Entertainment Corp.
SIX
$7.67M 0.15%
170,000
+50,000
+42% +$2.3M
2018 Q4
4 quarters
WDC icon
21
Western Digital
WDC
$149B
$7.3M 0.14%
152,145
+52,920
+53% +$2.21M
2019 Q3
1 quarter
DAL icon
22
Delta Air Lines
DAL
$54B
$5.85M 0.11%
100,000
– –
2019 Q3
1 quarter
SRE.PRB icon
23
DELISTED
Sempra 6.75% Mandatory Convertible Preferred Stock, Series B
SRE.PRB
$5.77M 0.11%
48,322
-40,696
-46% -$4.78M
2018 Q3
5 quarters
CFXA
24
DELISTED
Colfax Corporation 5.75% Tangible Equity Units
CFXA
$5.7M 0.11%
36,223
-30,660
-46% -$4.42M
2019 Q1
3 quarters
CNP.PRB icon
25
DELISTED
CenterPoint Energy, Inc. Depositary Shares Each Representing a 1/20th Interest in a Share of 7.00% S
CNP.PRB
$5.5M 0.11%
112,696
-56,485
-33% -$2.75M
2018 Q4
4 quarters
1
2 3 4 5

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Advent Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Advent Capital Management held 237 positions worth $5.16B, down 3.3% from $5.34B the previous quarter. Its ten largest holdings account for 24% of the portfolio.

Advent Capital Management withdrew a net $4.13B in Q4 2019, closing 22 positions and reducing 21 holdings. Its most notable exit was Las Vegas Sands, an estimated $5.78M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 98% of assets, down from 98% a quarter earlier, followed by Utilities and Consumer Discretionary.

Against the trend, Advent Capital Management opened a new position in Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock, Series A worth $80.1M.

  • Advent Capital Management's largest Q4 2019 buy was Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock, Series A: 68,475 shares worth $80.1M.
  • Advent Capital Management added most to Bank of America Series L in Q4 2019, an estimated $12.3M increase.
  • Advent Capital Management's biggest Q4 2019 reduction was The Southern Company, cutting an estimated $20.5M.
  • Advent Capital Management fully exited Las Vegas Sands in Q4 2019, selling an estimated $5.78M.
  • Advent Capital Management's ten largest holdings make up 24% of its $5.16B portfolio in Q4 2019.
  • Advent Capital Management opened 43 new positions and closed 22 in Q4 2019.
  • Advent Capital Management's portfolio value fell 3.3% quarter-over-quarter to $5.16B.

Based on Advent Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.