ADVENT CAPITAL MANAGEMENT /DE/

CIK 0001097278 · Q2 2026

13F Equity AUM

$4.5B

+22.8% QoQ

Positions

231

+21 QoQ

AUM Rank

#1,596

Top 13%

Skill Alpha (FF)

—

Building track record (1q)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 16.9%Top 10: 26.6%Top 20: 41.3%

BAC 7.25 PERP L4.1%

WFC 7.5 PERP L4.0%

UBER 0.875 12/01/28 3.3%

DOORDASH INC3.1%

NEE 7.299 06/01/272.4%

CMS 3.375 05/01/282.1%

PPL 2.875 03/15/282.1%

GPN 1.5 03/01/311.9%

ALPHABET INC1.9%

AKAMAI TECHNOLOGIES INC1.9%

Others (221)73.4%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Unclassified33.5%

Fixed Income16.4%

Technology15.8%

Financial Services15.8%

Utilities4.6%

Healthcare4.6%

Consumer Cyclical3.9%

Industrials2.6%

Other2.7%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 231Median: 0.19%Avg: 0.43%

0–0.5%

171(27.2%)

0.5–1%

30(20.6%)

1–3%

26(37.7%)

3–5%

4(14.5%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 231vs 20 funds

0%Low

231

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New74Increased71Decreased63Exited53

New Positions

DOORDASH INC3.1%

+141.3M

ALPHABET INC1.9%

+1.6M

AKAMAI TECHNOLOGIES …1.9%

+56.4M

ALPHABET INC1.4%

+1.3M

IRTC 1.5 09/01/291.2%

+47.4M

CLOUDFLARE INC1.1%

+39.6M

FIRSTENERGY CORP1.1%

+44.4M

ORACLE CORP1.1%

+1.1M

NCL CORPORATION LTD0.8%

+31.5M

ALPHATEC HOLDINGS IN…0.8%

+35.1M

Increased

MCHP 0.75 06/01/300.8%

+27.3M(+625%)

COIN 0.25 04/01/300.7%

+23.0M(+165%)

AVAV 0 07/15/301.6%

+18.6M(+33%)

PRCH 9 05/15/300.6%

+14.5M(+461%)

TTEK 2.25 08/15/281.3%

+14.0M(+35%)

FRPT 3 04/01/280.4%

+11.1M(+278%)

FOUR 0.5 08/01/270.3%

+10.9M(+437%)

MSTR 0.875 03/15/310.8%

+9.8M(+34%)

PPL 2.875 03/15/282.1%

+9.6M(+14%)

CMS 3.375 05/01/282.1%

+8.0M(+11%)

Decreased

DDOG 0 12/01/290.6%

-60,395,000(-77%)

AFRM 0.75 12/15/290.9%

-30,946,000(-47%)

LNTH 2.625 12/15/270.5%

-25,234,000(-63%)

AKAM 1.125 02/15/290.4%

-21,915,000(-61%)

ON 0.5 03/01/290.1%

-18,474,000(-81%)

TVTX 2.25 03/01/290.0%

-17,176,000(-99%)

JBLU 2.5 09/01/290.1%

-17,044,000(-88%)

VSH 2.25 09/15/300.3%

-15,229,000(-69%)

WGO 3.25 01/15/300.1%

-13,852,000(-82%)

RIOT 0.75 01/15/300.4%

-12,073,000(-59%)

Exited

-61,850,000

-28,645,000

-287,611

-13,479,000

-9,534,000

-8,948,000

-3,956,000

-5,000,000

-20,000

-7,000,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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