Advent International, L.P.
Long book
$4.24B
Q1 2026
Positions
30
Top-10 weight
89%
concentration
Last quarter
-2.5%
SPY +14.8%
Turnover
20%
of book per quarter
Strategy in plain words
auto-generated from filingsAdvent International, L.P. is a concentrated fundamental stock-picker, specialised in technology (61% of the long book), running a $4.24B US long book across 30 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: NIQ GLOBAL INTELLIGENCE PLC, OLAPLEX HOLDINGS INC, WAYSTAR HOLDING CORP, CI&T INC/UNITED STATES-A, TAIWAN SEMICONDUCTOR-SP ADR.
Over the last 9 quarters its long book ran on average 7.9pp per quarter behind the S&P 500, beating the index in 1 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-12.0%
Q2 2024
+10.1%
Q3 2024
-3.2%
Q4 2024
-18.4%
Q1 2025
+10.4%
Q2 2025
-2.3%
Q3 2025
-0.5%
Q4 2025
-12.3%
Q1 2026
-2.5%
Sector allocation
Technology 60%
Other 25%
Industrials 6%
Financials 4%
Energy 2%
Consumer discretionary 2%
Utilities 2%
Healthcare 0%
Long book by quarter
What does Advent International, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NIQ NIQ GLOBAL INTELLIGENCE PLC | Technology | 149.4M | $1.70B | 40.0% | Held |
| OLPX OLAPLEX HOLDINGS INC | Other | 499.5M | $1.01B | 23.9% | Held |
| WAY WAYSTAR HOLDING CORP | Technology | 11.1M | $266.7M | 6.3% | Held |
| CINT CI&T INC/UNITED STATES-A | Technology | 49.6M | $251.7M | 5.9% | Held |
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 7.3M | $104.8M | 2.5% | -18.9% |
| CRS CARPENTER TECHNOLOGY | Industrials | 236.7K | $93.3M | 2.2% | -30.6% |
| NCSM NCS MULTISTAGE HOLDINGS INC | Energy | 1.5M | $91.4M | 2.2% | Held |
| DH DEFINITIVE HEALTHCARE CORP | Technology | 62.5M | $76.9M | 1.8% | Held |
| BKR BAKER HUGHES CO | Industrials | 1.2M | $72.3M | 1.7% | New |
| SEI SOLARIS ENERGY INFRASTRUCTUR | Industrials | 1.2M | $70.1M | 1.7% | -1.8% |
| AMD ADVANCED MICRO DEVICES | Technology | 243.9K | $49.6M | 1.2% | New |
| MRVL MARVELL TECHNOLOGY INC | Technology | 475.1K | $47.1M | 1.1% | -35.4% |
| ARES ARES MANAGEMENT CORP - A | Financials | 428.7K | $46.8M | 1.1% | +9353.6% |
| GPI GROUP 1 AUTOMOTIVE INC | Consumer discretionary | 117.8K | $38.9M | 0.9% | -14.6% |
| GFL GFL ENVIRONMENTAL INC-SUB VT | Utilities | 823.0K | $34.3M | 0.8% | +117.1% |
| VST VISTRA CORP | Utilities | 187.5K | $28.2M | 0.7% | New |
| SNPS SYNOPSYS INC | Technology | 69.6K | $27.6M | 0.7% | +169.0% |
| DT DYNATRACE INC | Technology | 667.1K | $24.7M | 0.6% | -41.6% |
| LAD LITHIA MOTORS INC | Consumer discretionary | 95.3K | $23.8M | 0.6% | -37.2% |
| TDG TRANSDIGM GROUP INC | Industrials | 17.5K | $20.2M | 0.5% | +167.2% |
| WDAY WORKDAY INC-CLASS A | Technology | 88.5K | $11.5M | 0.3% | -66.8% |
| INTU INTUIT INC | Technology | 23.0K | $9.9M | 0.2% | +332.5% |
| ADSK AUTODESK INC | Technology | 40.4K | $9.7M | 0.2% | -21.3% |
| AGBK AGI INC-CL A | Financials | 1.1M | $8.2M | 0.2% | New |
| STEP STEPSTONE GROUP INC-CLASS A | Financials | 120.1K | $5.7M | 0.1% | New |
| RPID RAPID MICRO BIOSYSTEMS INC-A | Healthcare | 552.4K | $1.3M | 0.0% | -4.4% |
| EQH EQUITABLE HOLDINGS INC | Financials | 12.8K | $475K | 0.0% | -97.6% |
| OWL BLUE OWL CAPITAL INC | Financials | 29.7K | $271K | 0.0% | -99.6% |
| DDOG DATADOG INC - CLASS A | Technology | 1.9K | $224K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 31 | $4.24B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 25 | $4.83B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 26 | $4.97B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 22 | $3.08B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 25 | $3.16B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 24 | $4.28B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 23 | $4.72B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 24 | $4.18B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 20 | $5.70B | canonical | SEC ↗ |