ADVENT CAPITAL MANAGEMENT /DE/
SEC Form 13F institutional filer · CIK 0001097278
13F-HR · 27 reported holdings · 2026-03-31
Reported long-US-equity value
$0.68B
Top-10 concentration
92.6%
ADVENT CAPITAL MANAGEMENT /DE/ — $679M AUM allocation strategy
ADVENT CAPITAL MANAGEMENT /DE/ files SEC Form 13F and reports $679M of long US equity value across 27 reported holdings for 2026-03-31.
Its largest sector bet is Financials 57.7%, followed by Utilities 16.1% and Information Technology 11.4%.
The top 10 holdings account for 93% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
ADVENT CAPITAL MANAGEMENT /DE/ — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$679M
total across 27 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
93% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$MCHP +231K sh · +$12.5M+$KKR +47.5K sh · −$21.2M+$APO +25.9K sh · −$19.7M
Biggest trims (shares)
−$HPE −152K sh · −$10.6M−$NEE −51.2K sh · +$6.81M−$WFC −9.38K sh · −$175M
Exited to nil (held last quarter, gone now)
$NOC ($3.99M last qtr)$VRT ($3.24M last qtr)$PNC ($2.92M last qtr)$BSX ($2.86M last qtr)$AVGO ($2.77M last qtr)
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Diversified Banks28.8%—
- Asset Management & Custody Banks28.6%—
- Multi-Utilities16.1%—
- Aerospace & Defense8.3%—
- Semiconductors6.4%—
- Technology Hardware, Storage & Peripherals3.6%—
- Systems Software1.0%—
- Specialty Chemicals0.9%—
- Other holdings6.4%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $BAC | Bank of America Corporation | 149K | $178M | -8.14K | 26.2% |
| $NEE | NextEra Energy Inc | 1.94M | $110M | -51.2K | 16.1% |
| $KKR | KKR & Co. Inc | 2.05M | $82.5M | +47.5K | 12.2% |
| $APO | Apollo Global Management Inc | 1.3M | $76.7M | +25.9K | 11.3% |
| $BA | Boeing Company | 867K | $56.4M | +18K | 8.3% |
| $MCHP | Microchip Technology Incorporated | 761K | $43.5M | +231K | 6.4% |
| $ARES | Ares Management Corporation | 933K | $34.7M | +12.6K | 5.1% |
| $HPE | Hewlett Packard Enterprise Company | 376K | $24.4M | -152K | 3.6% |
| $WFC | Wells Fargo & Company | 148K | $17.2M | -9.38K | 2.5% |
| $ALB | Albemarle Corporation | 81.3K | $5.82M | +3.55K | 0.9% |
…and 17 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
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How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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