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ADVENT CAPITAL MANAGEMENT /DE/

888 SEVENTH AVENUE, 31ST FLOOR, NEW YORK, NY 10019 • 2124821600

Q3 2025 · Filed 2025-11-13
Market Value
$614M
-9.7%
Holdings
50
-1
New Purchases
11
Added To
7
Closed
24
Reduced
4
Top 10 Concentration
95.6%
Turnover
70.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BAC-PL 36.38% 30.48% +5.90% $223M
WFC-PL 35.17% 31.01% +4.15% $216M
APO-PA 15.06% 12.90% +2.16% $92M
STRK 1.39% 0.71% +0.68% $9M
SPOT 0.57% 0.00% +0.57% $3M
BMY 0.55% 0.00% +0.55% $3M
MDT 0.54% 0.00% +0.54% $3M
ACVT 4.34% 3.81% +0.53% $27M
DAL 0.46% 0.00% +0.46% $3M
ETN 0.61% 0.16% +0.45% $4M
CMI 0.41% 0.00% +0.41% $3M
RCL 0.37% 0.00% +0.37% $2M
VRT 0.37% 0.00% +0.37% $2M
AMZN 0.64% 0.32% +0.32% $4M
FANG 0.70% 0.51% +0.19% $4M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NEE-PR 0.00% 10.28% -10.28% $0
GTLS-PB 0.00% 2.11% -2.11% $0
META 0.00% 0.65% -0.65% $0
IBM 0.00% 0.61% -0.61% $0
RH 0.00% 0.56% -0.56% $0
WHR 0.00% 0.52% -0.52% $0
DXCM 0.00% 0.51% -0.51% $0
JPM 0.00% 0.43% -0.43% $0
TOL 0.00% 0.42% -0.42% $0
NVDA 0.00% 0.35% -0.35% $0
AVGO 0.27% 0.61% -0.34% $2M
LOW 0.00% 0.33% -0.33% $0
ZTS 0.00% 0.23% -0.23% $0
NOW 0.00% 0.19% -0.19% $0
LAZ 0.00% 0.18% -0.18% $0

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 80.6%
Technology 6.2%
Industrials 4.9%
Consumer Cyclical 3.6%
Healthcare 2.5%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 8 $445M 72.5%
Large Cap 23 $139M 22.6%
Mid Cap 9 $2M 0.4%
Small Cap 7 $508K 0.1%
Micro Cap 3 $27M 4.5%

Portfolio Analytics

Avg Market Cap
$303.2B
Median Market Cap
$31.0B
Avg P/E
30.7
Median P/E
21.9
Avg Dividend Yield
0.02%
Avg Beta
1.24
# Stocks
49
# ETFs / Funds
1

Top Holdings (50 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 BAC-PL 36.38% 176,506 $223M $1,264.98 $16M +3,668 +2.1%
2 WFC-PL 35.17% 175,046 $216M $1,233.00 $5M -4,963 -2.8%
3 APO-PA 15.06% 1,320,670 $92M $69.99 $5M +145,476 +12.4%
4 ACVT 4.34% 990,000 $27M $26.90 $769K
5 STRK 1.39% 93,238 $9M $91.44 $4M +53,420 +134.2%
6 AMGN 0.74% 16,000 $5M $282.20 $327K +1,000 +6.7%
7 FANG 0.70% 30,000 $4M $143.10 $858K +5,000 +20.0%
8 AMZN 0.64% 18,000 $4M $219.57 $2M +8,000 +80.0%
9 ETN 0.61% 10,000 $4M $374.25 $3M +7,000 +233.3%
10 SPOT 0.57% 5,000 $3M $698.00 +5,000 NEW
11 BMY 0.55% 75,000 $3M $45.10 +75,000 NEW
12 MDT 0.54% 35,000 $3M $95.24 +35,000 NEW
13 DAL 0.46% 50,000 $3M $56.75 +50,000 NEW
14 T 0.46% 100,000 $3M $28.24 -$70K
15 CMI 0.41% 6,000 $3M $422.37 +6,000 NEW
16 MGM 0.40% 70,000 $2M $34.66 -$841K -25,000 -26.3%
17 RCL 0.37% 7,000 $2M $323.58 +7,000 NEW
18 VRT 0.37% 15,000 $2M $150.86 +15,000 NEW
19 BTSGU 0.28% 16,993 $2M $100.54 -$15K -4,030 -19.2%
20 AVGO 0.27% 5,000 $2M $329.91 -$2M -10,000 -66.7%
21 DFDV 0.12% 50,000 $766K $15.31 +50,000 NEW
22 HUBS 0.08% 1,000 $468K $467.80 +1,000 NEW
23 BBAI 0.04% 40,000 $261K $6.52 +40,000 NEW
24 ESPR 0.03% 80,000 $212K $2.65 +80,000 NEW
25 BBAI-WT 0.01% 18,260 $39K $2.12 -$5K
26 AUROW 0.01% 61,500 $36K $0.58 -$18K
27 NEE-PR —% -$70M -1,766,596 -100.0% SOLD
28 ZTS —% -$2M -10,000 -100.0% SOLD
29 JPM —% -$3M -10,000 -100.0% SOLD
30 BTG —% -$168K -46,500 -100.0% SOLD
31 NOW —% -$1M -1,238 -100.0% SOLD
32 IBM —% -$4M -14,000 -100.0% SOLD
33 NVDA —% -$2M -15,000 -100.0% SOLD
34 META —% -$4M -6,000 -100.0% SOLD
35 OPFI —% -$280K -20,000 -100.0% SOLD
36 SO —% -$202K -2,200 -100.0% SOLD
37 REAL —% -$120K -25,000 -100.0% SOLD
38 RH —% -$4M -20,000 -100.0% SOLD
39 LAZ —% -$1M -25,000 -100.0% SOLD
40 PMT —% -$98K -7,584 -100.0% SOLD
41 GTLS-PB —% -$14M -236,552 -100.0% SOLD
42 WHR —% -$4M -35,000 -100.0% SOLD
43 DXCM —% -$3M -40,000 -100.0% SOLD
44 QFIN —% -$818K -18,856 -100.0% SOLD
45 PRAA —% -$84K -5,682 -100.0% SOLD
46 CYBR —% -$210K -516 -100.0% SOLD
47 TVTX —% -$207K -14,000 -100.0% SOLD
48 TOL —% -$3M -25,000 -100.0% SOLD
49 PENN —% -$186K -10,386 -100.0% SOLD
50 LOW —% -$2M -10,000 -100.0% SOLD

Options Breakdown

33 Calls $29M Call Value 4 Puts $107M Put Value 3.63 P/C Ratio

Top Calls

SymbolSharesValueStatus
BABA 29,500 $5M
JD 150,000 $5M NEW
GME 125,000 $3M
CIM 200,000 $3M NEW
CIFR 160,000 $2M NEW
AGNCZ 195,100 $2M
CRWV 12,500 $2M NEW
LYFT 55,000 $1M
REAL 100,000 $1M NEW
BE 10,000 $846K NEW

Top Puts

SymbolSharesValueStatus
SPY 158,000 $105M
BTDR 100,000 $2M NEW
SOFI $0 SOLD
HOOD $0 SOLD

New Positions

SymbolValue% Port
SPOT $3M 0.57%
BMY $3M 0.55%
MDT $3M 0.54%
DAL $3M 0.46%
CMI $3M 0.41%
RCL $2M 0.37%
VRT $2M 0.37%
DFDV $766K 0.12%
HUBS $468K 0.08%
BBAI $261K 0.04%
ESPR $212K 0.03%

Sold Out Positions

SymbolValue% Port
RH —%
NOW —%
ZTS —%
PMT —%
LOW —%
IBM —%
LAZ —%
JPM —%
SO —%
WHR —%
OPFI —%
TOL —%
DXCM —%
META —%
PENN —%
View SEC EDGAR Filings for ADVENT CAPITAL MANAGEMENT /DE/ →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms