ADVENT CAPITAL MANAGEMENT /DE/

Q4 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
12/31/2025
Date filed
2/9/2026
Form type
13F-HR
Num holdings
225
Total value ($000)
$4,977,969
Net value change ($000)
+389,906 (8.5%)
New positions
15
Sold out positions
13
Turnover %
12.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/13/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
SO 45,639 NEW
NOVT 31,704 NEW
HPE 16,629 90.9%
KKR 11,594 12.6%
QXO 5,213 54.7%
ARES 4,641 11.1%
NOC 3,991 NEW
APO 3,984 4.3%
ABBV 3,427 NEW
GM 3,253 NEW
Top Reduces (Value $000, Stocks/ETFs)
BAC -26,303 -11.8%
WFC -24,029 -11.1%
AMGN -4,515 -100.0%
FANG -4,293 -100.0%
AMZN -3,952 -100.0%
SPOT -3,490 -100.0%
BMY -3,383 -100.0%
MDT -3,333 -100.0%
DAL -2,838 -100.0%
T -2,824 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 647,503 (13.0% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type