Spectrum Asset Management, Inc.
Spectrum Asset Management, Inc. is a world-leading asset manager specializing in preferred and capital securities, headquartered in Stamford, Connecticut. Founded in 1987, it is a wholly owned and independently run affiliate of Principal Global Investors since 2001. As of June 30, 2025, Spectrum manages approximately $18.4 to $19.7 billion in assets and employs around 26 to 29 professionals. Spectrum provides portfolio management and advisory services globally to corporate, pension, insurance, and endowment clients, as well as mutual funds, ETFs, and high-net-worth investors.
Investment Strategy
Spectrum leverages a fundamental, credit-based investment philosophy to manage portfolios primarily of preferred and junior subordinated capital securities, including contingent convertible capital securities. The investment approach is rooted in deep capital structure analysis and a focus on high-yielding investment grade and below investment grade securities, both in the U.S. and international capital markets. The firm also employs derivatives-based volatility mitigation strategies to manage interest rate, credit, and market volatilities. Spectrum seeks to deliver strong risk-adjusted returns through specialist expertise and disciplined portfolio construction for a diversified set of institutional and individual clients.
Top Holdings
Equity Positions (4)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
P PGX | INVESCO EXCH TRADED FD TR II | 79.31% | $52.0M | 4,669,495 | $11.80 | $11.13 | +$11.2M |
V VRP | INVESCO EXCH TRADED FD TR II | 12.79% | $8.4M | 342,707 | $24.38 | $24.45 | +$6.5M |
W WFC-PL | WELLS FARGO CO NEW | 6.25% | $4.1M | 3,487 | $1320.32 | $1174.13 | -$147.0K |
B BAC-PL | BANK AMERICA CORP | 1.66% | $1.1M | 897 | $1307.55 | $1213.00 | -$19.3K |