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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
+0.44%
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
$5.16B
AUM Growth
-$176M
Cap. Flow
-$4.14B
Cap. Flow %
-80.11%
Top 10 Hldgs %
23.65%
Holding
237
New
43
Increased
9
Reduced
21
Closed
22

Top Buys

Rank Stock Value
1
AVGOP
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
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
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 Utilities 1.05%
2 Consumer Discretionary 0.26%
3 Industrials 0.25%
4 Communication Services 0.24%
5 Technology 0.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BAC.PRL icon
1
Bank of America Series L
BAC.PRL
$3.99B
$170M 3.29%
116,562
+8,270
+8% +$12.3M
WFC.PRL icon
2
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.66B
$164M 3.19%
113,370
+1,860
+2% +$2.75M
AVGOP
3
DELISTED
Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock, Series A
AVGOP
$80.1M 1.55%
+68,475
New +$77M
DCUE
4
DELISTED
Dominion Energy, Inc. 2019 Series A Corporate Units
DCUE
$57.5M 1.11%
538,236
-164,764
-23% -$17.5M
SOLN
5
DELISTED
The Southern Company
SOLN
$54M 1.05%
1,003,266
-386,449
-28% -$20.5M
NEE.PRO
6
DELISTED
NextEra Energy, Inc. 4.872% Corporate Units
NEE.PRO
$53.4M 1.04%
1,044,350
+114,350
+12% +$5.73M
DTP
7
DELISTED
DTE Energy Company 2019 Corporate Units
DTP
$47.4M 0.92%
+922,327
New +$46.2M
AEPPL
8
DELISTED
American Electric Power Company, Inc. Corporate Unit
AEPPL
$43.1M 0.84%
798,455
-176,370
-18% -$9.53M
SWP
9
DELISTED
Stanley Black & Decker, Inc. Corporate Units
SWP
$42.3M 0.82%
387,578
-95,519
-20% -$10M
DHR.PRA
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
SWT
11
DELISTED
Stanley Black & Decker, Inc.
SWT
$34.9M 0.68%
+320,427
New +$33.8M
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
FTV.PRA
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
IFFT
14
DELISTED
International Flavors & Fragrances Inc. 6.00% Tangible Equity Units
IFFT
$23M 0.45%
479,253
+17,483
+4% +$841K
CCI.PRA
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
ENR.PRA
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
FLG.PRU
17
Flagstar Bank National Association Bifurcated Option Note Unit Securities
FLG.PRU
$118M
$15.7M 0.3%
309,439
-44,829
-13% -$2.27M
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
AVTR.PRA
19
DELISTED
Avantor, Inc. Series A Mandatory Convertible Preferred Stock
AVTR.PRA
$10.8M 0.21%
170,727
-61,934
-27% -$3.53M
SIX
20
DELISTED
Six Flags Entertainment Corp.
SIX
$7.67M 0.15%
170,000
+50,000
+42% +$2.3M
WDC icon
21
Western Digital
WDC
$150B
$7.3M 0.14%
152,145
+52,920
+53% +$2.21M
DAL icon
22
Delta Air Lines
DAL
$60.1B
$5.85M 0.11%
100,000
– –
SRE.PRB
23
DELISTED
Sempra 6.75% Mandatory Convertible Preferred Stock, Series B
SRE.PRB
$5.77M 0.11%
48,322
-40,696
-46% -$4.78M
CFXA
24
DELISTED
Colfax Corporation 5.75% Tangible Equity Units
CFXA
$5.7M 0.11%
36,223
-30,660
-46% -$4.42M
CNP.PRB
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
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 $4.14B 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 Utilities at 1% of assets, down from 1.4% a quarter earlier, followed by Consumer Discretionary and Industrials.

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.