ADVENT CAPITAL MANAGEMENT /DE/

Filed: 8/13/2025ACC: 0001140361-25-030722

📋 What this filing means

ADVENT CAPITAL MANAGEMENT /DE/ filed this quarterly 13F‑HR report disclosing 229 equity positions with a total reported market value of $4.70B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

229

Positions

$4.70B

Total AUM (reported)

3.44B

Total Shares

Allocation by class

CONV$3.55B75.6%

CONV PFD$919.79M19.6%

COM$226.39M4.8%

Portfolio Concentration

Top 3$589.77M12.6%

4–10$702.60M15.0%

11–25$924.98M19.7%

Rest$2.48B52.8%

Top 3 weight

12.6%

Top 10 weight

27.5%

Voting Authority Distribution

Total shares with voting rights: 3.44B

Sole

Full voting authority

2.34B

% of voting shares68.0%

Shared

Joint voting authority

98.14M

% of voting shares2.9%

None

No voting authority

% of voting shares29.2%

Investment Discretion (by position count)

Sole229

Shared0

Other0

Dominant voting typeSole · 68.0% of voting shares

Institutional Holdings229

Rows:

WELLS FARGO & COMPANY

SOLE

CONV PFD

Shares180.01K

TypeSH

Market value$210.77M

4.49%

Sole

120.60K

Shared

3.97K

None

55.44K

BANK OF AMERICA CORP

SOLE

CONV PFD

Shares172.84K

TypeSH

Market value$207.12M

4.41%

Sole

119.23K

Shared

3.90K

None

49.71K

UBER TECHNOLOGIES INC

SOLE

CONV

Shares120.07M

TypePRN

Market value$171.88M

3.66%

Sole

112.61M

Shared

285K

None

7.17M

GLOBAL PAYMENTS INC

SOLE

CONV

Shares153.65M

TypePRN

Market value$137.98M

2.94%

Sole

126.98M

Shared

1.55M

None

25.13M

VENTAS REALTY LP

SOLE

CONV

Shares93.42M

TypePRN

Market value$111.91M

2.38%

Sole

86.50M

Shared

125K

None

6.79M

MERITAGE HOMES CORP

SOLE

CONV

Shares104.66M

TypePRN

Market value$101.86M

2.17%

Sole

76.88M

Shared

1.52M

None

26.26M

DUKE ENERGY CORP

SOLE

CONV

Shares91.79M

TypePRN

Market value$97.23M

2.07%

Sole

84.61M

Shared

325K

None

6.86M

KKR & CO INC

SOLE

CONV PFD

Shares1.73M

TypeSH

Market value$92.57M

1.97%

Sole

1.62M

Shared

8.70K

None

104.57K

APOLLO GLOBAL MANAGEMENT

SOLE

CONV PFD

Shares1.18M

TypeSH

Market value$87.70M

1.87%

Sole

1.07M

Shared

None

98.27K

CMS ENERGY CORP

SOLE

CONV

Shares68.84M

TypePRN

Market value$73.35M

1.56%

Sole

62.96M

Shared

151K

None

5.73M

SPDR S&P 500 ETF Trust

SOLE

COM

Shares117.50K

TypeSH

Market value$72.60M

1.55%

Sole

117.50K

Shared

0.00

None

0.00

DRAFTKINGS HOLDINGS INC

SOLE

CONV

Shares78.97M

TypePRN

Market value$71.03M

1.51%

Sole

41.61M

Shared

3.60M

None

33.76M

DEXCOM INC

SOLE

CONV

Shares74.59M

TypePRN

Market value$70.34M

1.50%

Sole

46.02M

Shared

2.55M

None

26.02M

NEXTERA ENERGY INC

SOLE

CONV PFD

Shares1.77M

TypeSH

Market value$69.87M

1.49%

Sole

1.60M

Shared

11.50K

None

157.41K

DIGITALOCEAN HOLDINGS

SOLE

CONV

Shares71.44M

TypePRN

Market value$66.88M

1.42%

Sole

38.88M

Shared

3.17M

None

29.39M

PPL CAPITAL FUNDING INC

SOLE

CONV

Shares58.45M

TypePRN

Market value$63.27M

1.35%

Sole

52.27M

Shared

193K

None

5.99M

SHIFT4 PAYMENTS INC

SOLE

CONV

Shares58.72M

TypePRN

Market value$63.12M

1.34%

Sole

32.40M

Shared

2.35M

None

23.97M

ON SEMICONDUCTOR CORP

SOLE

CONV

Shares52.28M

TypePRN

Market value$62.09M

1.32%

Sole

29.93M

Shared

1.68M

None

20.68M

AKAMAI TECHNOLOGIES INC

SOLE

CONV

Shares62.38M

TypePRN

Market value$59.35M

1.26%

Sole

45.84M

Shared

1.66M

None

14.88M

NEXTERA ENERGY CAPITAL

SOLE

CONV

Shares51.70M

TypePRN

Market value$58.92M

1.25%

Sole

51.70M

Shared

0.00

None

0.00

MKS INC

SOLE

CONV

Shares59.19M

TypePRN

Market value$58.63M

1.25%

Sole

33.50M

Shared

1.77M

None

23.92M

EXPEDIA GROUP INC

SOLE

CONV

Shares60.13M

TypePRN

Market value$58.60M

1.25%

Sole

48.81M

Shared

104K

None

11.21M

BOEING CO/THE

SOLE

CONV PFD

Shares798.12K

TypeSH

Market value$53.93M

1.15%

Sole

740.39K

Shared

11.23K

None

46.49K

IONIS PHARMACEUTICALS IN

SOLE

CONV

Shares46.70M

TypePRN

Market value$49.18M

1.05%

Sole

22.75M

Shared

2.25M

None

21.70M

PG&E CORP

SOLE

CONV

Shares47.41M

TypePRN

Market value$47.17M

1.00%

Sole

21.60M

Shared

1.95M

None

23.86M

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	Shared	None
WELLS FARGO & COMPANYSOLE	CONV PFD	180.01K	SH	$210.77M 4.49%	120.60K	3.97K	55.44K
BANK OF AMERICA CORPSOLE	CONV PFD	172.84K	SH	$207.12M 4.41%	119.23K	3.90K	49.71K
UBER TECHNOLOGIES INCSOLE	CONV	120.07M	PRN	$171.88M 3.66%	112.61M	285K	7.17M
GLOBAL PAYMENTS INCSOLE	CONV	153.65M	PRN	$137.98M 2.94%	126.98M	1.55M	25.13M
VENTAS REALTY LPSOLE	CONV	93.42M	PRN	$111.91M 2.38%	86.50M	125K	6.79M
MERITAGE HOMES CORPSOLE	CONV	104.66M	PRN	$101.86M 2.17%	76.88M	1.52M	26.26M
DUKE ENERGY CORPSOLE	CONV	91.79M	PRN	$97.23M 2.07%	84.61M	325K	6.86M
KKR & CO INCSOLE	CONV PFD	1.73M	SH	$92.57M 1.97%	1.62M	8.70K	104.57K
APOLLO GLOBAL MANAGEMENTSOLE	CONV PFD	1.18M	SH	$87.70M 1.87%	1.07M	6K	98.27K
CMS ENERGY CORPSOLE	CONV	68.84M	PRN	$73.35M 1.56%	62.96M	151K	5.73M
SPDR S&P 500 ETF TrustSOLE	COM	117.50K	SH	$72.60M 1.55%	117.50K	0.00	0.00
DRAFTKINGS HOLDINGS INCSOLE	CONV	78.97M	PRN	$71.03M 1.51%	41.61M	3.60M	33.76M
DEXCOM INCSOLE	CONV	74.59M	PRN	$70.34M 1.50%	46.02M	2.55M	26.02M
NEXTERA ENERGY INCSOLE	CONV PFD	1.77M	SH	$69.87M 1.49%	1.60M	11.50K	157.41K
DIGITALOCEAN HOLDINGSSOLE	CONV	71.44M	PRN	$66.88M 1.42%	38.88M	3.17M	29.39M
PPL CAPITAL FUNDING INCSOLE	CONV	58.45M	PRN	$63.27M 1.35%	52.27M	193K	5.99M
SHIFT4 PAYMENTS INCSOLE	CONV	58.72M	PRN	$63.12M 1.34%	32.40M	2.35M	23.97M
ON SEMICONDUCTOR CORPSOLE	CONV	52.28M	PRN	$62.09M 1.32%	29.93M	1.68M	20.68M
AKAMAI TECHNOLOGIES INCSOLE	CONV	62.38M	PRN	$59.35M 1.26%	45.84M	1.66M	14.88M
NEXTERA ENERGY CAPITALSOLE	CONV	51.70M	PRN	$58.92M 1.25%	51.70M	0.00	0.00
MKS INCSOLE	CONV	59.19M	PRN	$58.63M 1.25%	33.50M	1.77M	23.92M
EXPEDIA GROUP INCSOLE	CONV	60.13M	PRN	$58.60M 1.25%	48.81M	104K	11.21M
BOEING CO/THESOLE	CONV PFD	798.12K	SH	$53.93M 1.15%	740.39K	11.23K	46.49K
IONIS PHARMACEUTICALS INSOLE	CONV	46.70M	PRN	$49.18M 1.05%	22.75M	2.25M	21.70M
PG&E CORPSOLE	CONV	47.41M	PRN	$47.17M 1.00%	21.60M	1.95M	23.86M

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