Spectrum Asset Management, Inc.
Long book
$50.0M
Q1 2026
Positions
4
Top-10 weight
100%
concentration
Last quarter
+1.5%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsSpectrum Asset Management, Inc. is a wealth-management firm allocating client money, running a $50.0M US long book across 4 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: INVESCO PREFERRED ETF, WELLS FARGO & COMPANY, INVESCO VARIABLE RATE PREFER, BANK OF AMERICA CORP.
Over the last 9 quarters its long book ran on average 4pp per quarter behind the S&P 500, beating the index in 3 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-1.1%
Q2 2024
+5.8%
Q3 2024
-4.7%
Q4 2024
-0.6%
Q1 2025
+0.8%
Q2 2025
+5.3%
Q3 2025
-1.5%
Q4 2025
-1.4%
Q1 2026
+1.5%
Sector allocation
Other 100%
Long book by quarter
What does Spectrum Asset own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| WFC 7.5 PERP L WELLS FARGO & COMPANY | — | 3.4K | $4.0M | 7.9% | -1.4% |
| BAC 7.25 PERP L BANK OF AMERICA CORP | — | 897 | $1.1M | 2.1% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 4, 2026 | 4 | $50.0M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 2, 2026 | 4 | $79.5M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 27, 2025 | 4 | $49.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 8, 2025 | 4 | $65.5M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 28, 2025 | 5 | $54.9M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 31, 2025 | 5 | $101.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 31, 2024 | 5 | $61.1M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 25, 2024 | 5 | $28.2M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 29, 2024 | 5 | $57.3M | canonical | SEC ↗ |