Advent Capital Management Portfolio holdings

Advent Capital Management's Q2 2020 Portfolio in Review

As of Q2 2020, Advent Capital Management held 212 positions worth $4.27B, down 7.2% from $4.6B the previous quarter. Its ten largest holdings account for 30% of the portfolio.

Advent Capital Management withdrew a net $3.49B in Q2 2020, closing 39 positions and reducing 14 holdings. Its most notable exit was Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock, Series A, an estimated $63M position sold in full.

By sector, the portfolio is most concentrated in Utilities at 0.84% of assets, down from 0.93% a quarter earlier, followed by Healthcare and Consumer Staples.

Against the trend, Advent Capital Management opened a new position in Boston Scientific Corporation 5.50% Mandatory Convertible Preferred Stock, Series A worth $18.9M.

• Advent Capital Management's largest Q2 2020 buy was Boston Scientific Corporation 5.50% Mandatory Convertible Preferred Stock, Series A: 180,200 shares worth $18.9M.
• Advent Capital Management added most to NextEra Energy, Inc. 5.279% Corporate Units in Q2 2020, an estimated $14.5M increase.
• Advent Capital Management's biggest Q2 2020 reduction was NextEra Energy, Inc. 4.872% Corporate Units, cutting an estimated $9.87M.
• Advent Capital Management fully exited Broadcom Inc. 8.00% Mandatory Convertible Preferred Stock, Series A in Q2 2020, selling an estimated $63M.
• Advent Capital Management's ten largest holdings make up 30% of its $4.27B portfolio in Q2 2020.
• Advent Capital Management opened 17 new positions and closed 39 in Q2 2020.
• Advent Capital Management's portfolio value fell 7.2% quarter-over-quarter to $4.27B.

Based on Advent Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.