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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
+0.31%
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
$4.98B
AUM Growth
+$390M
(+8.5%)
Cap. Flow
-$3.15B
Cap. Flow
% of AUM
-63.36%
Top 10 Holdings %
Top 10 Hldgs %
35.76%
Holding
255
New
26
Increased
16
Reduced
8
Closed
30
Avg Time Held Equity + Options
4.3
quarters
Top 10 Avg Time Held Equity + Options
4.4
quarters
Top 20 Avg Time Held Equity + Options
3.4
quarters
Avg Time Held Equity only
4.6
quarters
Top 10 Avg Time Held Equity only
4.6
quarters
Top 20 Avg Time Held Equity only
3.5
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
The Southern Company 2025 Series A Corp Units
SOMN
|
+$45.5M |
| 2 |
Novanta Inc Units
NOVTU
|
+$30.7M |
| 3 |
Hewlett Packard Enterprise 7.625% Series C Preferred Stock
HPE.PRC
|
+$16.8M |
| 4 |
KKR & Co 6.25% Series D Preferred Stock
KKR.PRD
|
+$11.5M |
| 5 |
QXO Inc 5.50% Series B Preferred Stock
QXO.PRB
|
+$5.05M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bank of America Series L
BAC.PRL
|
+$24.2M |
| 2 |
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
|
+$21.5M |
| 3 |
Bruker Corporation 6.375% Series A Preferred Stock
BRKRP
|
+$8.72M |
| 4 |
NextEra Energy 7.299% Corporate Units
NEE.PRS
|
+$6.97M |
| 5 |
Amgen
AMGN
|
+$4.52M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 98.69% |
| 2 | Technology | 0.68% |
| 3 | Industrials | 0.23% |
| 4 | Consumer Discretionary | 0.18% |
| 5 | Healthcare | 0.16% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
CALL
State Street SPDR S&P 500 ETF Trust
SPY
$833B
| $586M | 11.78% |
+860,000
| New | +$581M |
2025 Q4
0 quarters
|
|
|
2
Bank of America Series L
BAC.PRL
$3.67B
| $197M | 3.96% |
157,311
-19,195
| -11% | -$24.2M |
2023 Q1
11 quarters
|
|
|
3
Wells Fargo 7.5% Non Cumv Perp Conv
WFC.PRL
$4.25B
| $192M | 3.85% |
157,600
-17,446
| -10% | -$21.5M |
2023 Q1
11 quarters
|
|
|
4
KKR & Co 6.25% Series D Preferred Stock
KKR.PRD
$2.15B
| $104M | 2.08% |
1,997,547
+226,306
| +13% | +$11.5M |
2025 Q1
3 quarters
|
|
|
5
NextEra Energy 7.299% Corporate Units
NEE.PRS
$1.98B
| $103M | 2.06% |
1,988,322
-131,212
| -6% | -$6.97M |
2024 Q2
6 quarters
|
|
6
DELISTED
Apollo Global Management Series A
APO.PRA
| $96.4M | 1.94% |
1,277,582
-43,088
| -3% | -$3.01M |
2023 Q3
9 quarters
|
|
7
Boeing Co 6.00% Series A Preferred Stock
BA.PRA
$6.83B
| $59M | 1.19% |
849,161
+29,391
| +4% | +$1.96M |
2024 Q4
4 quarters
|
|
8
Ares Management Corp 6.75% Series B Preferred Stock
ARES.PRB
$1.16B
| $46.5M | 0.93% |
920,473
+83,173
| +10% | +$4.1M |
2024 Q4
4 quarters
|
|
|
9
The Southern Company 2025 Series A Corp Units
SOMN
| $45.6M | 0.92% |
+916,989
| New | +$45.5M |
2025 Q4
0 quarters
|
|
|
10
Hewlett Packard Enterprise 7.625% Series C Preferred Stock
HPE.PRC
$5.63B
| $34.9M | 0.7% |
527,546
+257,399
| +95% | +$16.8M |
2024 Q3
5 quarters
|
|
|
11
Novanta Inc Units
NOVTU
$669M
| $31.7M | 0.64% |
+581,990
| New | +$30.7M |
2025 Q4
0 quarters
|
|
|
12
Bruker Corporation 6.375% Series A Preferred Stock
BRKRP
$1.19B
| $31.5M | 0.63% |
86,679
-25,841
| -23% | -$8.72M |
2025 Q3
1 quarter
|
|
13
Microchip Technology Inc 7.50% Series A Preferred Stock
MCHPP
| $31M | 0.62% |
529,956
-19,754
| -4% | -$1.13M |
2025 Q1
3 quarters
|
|
14
CALL
Cisco
CSCO
$467B
| $30.8M | 0.62% |
+400,000
| New | +$29.7M |
2025 Q4
0 quarters
|
|
15
Advent Convertible Bond ETF
ACVT
$43.2M
| $26.5M | 0.53% |
990,250
+250
| +0% | +$6.7K |
2025 Q2
2 quarters
|
|
16
Shift4 Payments Inc 6.00% Series A Preferred Stock
FOUR.PRA
$541M
| $25.9M | 0.52% |
323,380
+39,350
| +14% | +$3.45M |
2025 Q2
2 quarters
|
|
17
PG&E Corp 6.000% Series A Preferred Stock
PCG.PRX
$1.08B
| $19.2M | 0.38% |
466,504
+28,710
| +7% | +$1.18M |
2024 Q4
4 quarters
|
|
|
18
QXO Inc 5.50% Series B Preferred Stock
QXO.PRB
$407M
| $14.7M | 0.3% |
265,400
+91,400
| +53% | +$5.05M |
2025 Q2
2 quarters
|
|
19
Strategy Inc 8.00% Series A Perpetual Strike Preferred Stock
STRK
$556M
| $8.36M | 0.17% |
105,738
+12,500
| +13% | +$1.08M |
2025 Q1
3 quarters
|
|
20
CALL
Home Depot
HD
$290B
| $6.88M | 0.14% |
+20,000
| New | +$7.33M |
2025 Q4
0 quarters
|
|
21
CALL
Norwegian Cruise Line
NCLH
$7.15B
| $6.7M | 0.13% |
+300,000
| New | +$6.33M |
2025 Q4
0 quarters
|
|
22
CALL
Oracle
ORCL
$429B
| $4.87M | 0.1% |
+25,000
| New | +$5.95M |
2025 Q4
0 quarters
|
|
23
Albemarle Corp Depositary Shares
ALB.PRA
$2.03B
| $4.58M | 0.09% |
77,747
| – | – |
2024 Q2
6 quarters
|
|
24
Eaton
ETN
$167B
| $4.14M | 0.08% |
13,000
+3,000
| +30% | +$1.06M |
2025 Q1
3 quarters
|
|
25
Northrop Grumman
NOC
$68.3B
| $3.99M | 0.08% |
+7,000
| New | +$4.06M |
2025 Q4
0 quarters
|
|
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Advent Capital Management's Q4 2025 Portfolio in Review
As of Q4 2025, Advent Capital Management held 255 positions worth $4.98B, up 8.5% from $4.59B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
Advent Capital Management withdrew a net $3.15B in Q4 2025, closing 30 positions and reducing 8 holdings. Its most notable exit was Amgen, an estimated $4.52M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 99% of assets, up from 98% a quarter earlier, followed by Technology and Industrials.
Against the trend, Advent Capital Management opened a new position in The Southern Company 2025 Series A Corp Units worth $45.6M.
- Advent Capital Management's largest Q4 2025 buy was The Southern Company 2025 Series A Corp Units: 916,989 shares worth $45.6M.
- Advent Capital Management added most to Hewlett Packard Enterprise 7.625% Series C Preferred Stock in Q4 2025, an estimated $16.8M increase.
- Advent Capital Management's biggest Q4 2025 reduction was Bank of America Series L, cutting an estimated $24.2M.
- Advent Capital Management fully exited Amgen in Q4 2025, selling an estimated $4.52M.
- Advent Capital Management's ten largest holdings make up 36% of its $4.98B portfolio in Q4 2025.
- Advent Capital Management opened 26 new positions and closed 30 in Q4 2025.
- Advent Capital Management's portfolio value rose 8.5% quarter-over-quarter to $4.98B.
Based on Advent Capital Management's 13F filing for Q4 2025, filed 9 Feb 2026.