Advisors Capital Management, LLC

Advisors Capital Management, LLC is a New Jersey-based registered investment advisor headquartered in Ridgewood, providing comprehensive portfolio management services with a distinctive focus on combining growth potential with income generation. Founded by Charles Lieberman, PhD, a former chief economist with extensive Wall Street experience, the firm brings macroeconomic sophistication to individual portfolio construction. Advisors Capital Management files quarterly 13F reports with the Securities and Exchange Commission under CIK #0001345576, providing transparency into its U.S. equity holdings. Operating from the New York metropolitan area, the firm serves high net worth individuals, families, and institutional clients seeking active equity management informed by economic analysis and fundamental research. Charles Lieberman, who serves as Chief Investment Officer, leverages decades of experience as an economist—including positions at Chase Econometrics and as Chief Economist at Chase Securities—to integrate macroeconomic perspectives into investment decisions. Partner JoAnne Feeney contributes portfolio management expertise focusing on equity selection and sector allocation. The firm's approach reflects Lieberman's conviction that understanding economic cycles, interest rate dynamics, and sector relationships enhances security selection and risk management. This economic-first framework distinguishes Advisors Capital from purely bottom-up stock pickers, providing clients with portfolios designed to navigate varying economic environments. The platform's 13F History tools enable examination of how the firm's economically-informed positioning has evolved across business cycles, providing insight into the practical application of macroeconomic analysis to portfolio construction.

Advisors Capital Management employs a growth-oriented investment philosophy that integrates macroeconomic analysis with fundamental security selection, while maintaining meaningful emphasis on income generation through dividends. The firm's approach reflects Chief Investment Officer Charles Lieberman's background as an economist, applying business cycle analysis and interest rate perspectives to sector allocation and security selection decisions. The 13F Portfolio Composition reveals diversified positioning across technology, healthcare, financials, and income-generating equities—a blend reflecting the firm's dual emphasis on capital appreciation and current income. This composition balances growth-oriented holdings positioned to benefit from secular trends with dividend-paying companies providing steady cash flow and downside support. The allocation reflects consideration of both individual company fundamentals and broader economic positioning. The firm's investment process begins with macroeconomic assessment—evaluating GDP growth trajectories, inflation dynamics, interest rate expectations, and sector sensitivities—before identifying individual securities positioned to benefit from anticipated economic conditions. This top-down overlay informs bottom-up security selection, creating portfolios aligned with the firm's economic outlook while maintaining company-specific conviction. The Sector Allocation History across reporting periods demonstrates how sector exposures shift as economic conditions evolve and cyclical opportunities emerge. Dividend emphasis represents a distinctive characteristic, with the firm typically maintaining meaningful exposure to dividend-paying companies that provide current income while offering potential for capital appreciation. This income focus proves particularly valuable for clients in or approaching retirement seeking sustainable cash flow without liquidating principal. Portfolio turnover appears moderate, balancing responsiveness to changing economic conditions against the tax efficiency and reduced transaction costs associated with longer holding periods.

Advisors Capital Management, LLC represents a New Jersey-based investment manager bringing macroeconomic sophistication to growth-and-income portfolio construction. The firm's 13F filings under CIK #0001345576 reveal a diversified portfolio balancing growth-oriented positions with income-generating holdings, reflecting the dual-mandate approach central to the firm's investment philosophy. Key observable characteristics include economically-informed sector allocation, blended growth and income orientation, and diversified positioning across technology, healthcare, financials, and dividend-paying equities. The Sharpe Ratio and Annualized Return (CAGR) derived from historical portfolio replication enable quantitative assessment of risk-adjusted performance, while Top 10 Holdings Concentration analysis reveals conviction levels within the balanced portfolio. Chief Investment Officer Charles Lieberman's economic commentary provides additional transparency into the firm's market perspectives and positioning rationale beyond what 13F filings alone reveal. For analysts examining the disclosed holdings, a relevant question emerges: how does the firm adjust the balance between growth and income components as interest rate environments shift, and what patterns in sector allocation signal changing economic cycle expectations or defensive positioning ahead of anticipated economic weakness?

The risk characteristics of Advisors Capital Management's disclosed holdings reflect a balanced approach combining growth-oriented positions with income-generating holdings that provide stability during market stress. The Volatility Profile historically demonstrates characteristics consistent with a blended growth-and-income approach—participating in market advances through growth holdings while benefiting from the defensive properties of dividend-paying securities during corrections. Drawdown behavior benefits from the income-oriented component of the portfolio, as dividend-paying stocks historically exhibit lower volatility and shallower drawdowns than non-dividend-paying growth stocks. The Max Drawdown Depth metric available through historical portfolio simulation captures peak-to-trough experiences across market environments, providing context for understanding how the growth-income blend has navigated various stress scenarios including the 2020 pandemic selloff and 2022 rate-driven correction. The firm's macroeconomic approach to portfolio construction introduces regime dependency considerations. Positioning based on economic forecasts may generate significant alpha when forecasts prove accurate, but economic prediction carries inherent uncertainty. The Downside Capture Ratio derived from historical replication offers perspective on how disclosed holdings have performed during declining markets, providing quantitative assessment of the portfolio's defensive characteristics. The diversified sector allocation across technology, healthcare, financials, and income-generating equities provides structural risk mitigation, preventing any single sector from dominating portfolio variance while maintaining participation in multiple growth themes and income sources. The risk characteristics of Advisors Capital Management's disclosed holdings reflect a balanced approach combining growth-oriented positions with income-generating holdings that provide stability during market stress. The Volatility Profile historically demonstrates characteristics consistent with a blended growth-and-income approach—participating in market advances through growth holdings while benefiting from the defensive properties of dividend-paying securities during corrections. Drawdown behavior benefits from the income-oriented component of the portfolio, as dividend-paying stocks historically exhibit lower volatility and shallower drawdowns than non-dividend-paying growth stocks. The Max Drawdown Depth metric available through historical portfolio simulation captures peak-to-trough experiences across market environments, providing context for understanding how the growth-income blend has navigated various stress scenarios including the 2020 pandemic selloff and 2022 rate-driven correction. The firm's macroeconomic approach to portfolio construction introduces regime dependency considerations. Positioning based on economic forecasts may generate significant alpha when forecasts prove accurate, but economic prediction carries inherent uncertainty. The Downside Capture Ratio derived from historical replication offers perspective on how disclosed holdings have performed during declining markets, providing quantitative assessment of the portfolio's defensive characteristics. The diversified sector allocation across technology, healthcare, financials, and income-generating equities provides structural risk mitigation, preventing any single sector from dominating portfolio variance while maintaining participation in multiple growth themes and income sources.