Advent International, L.P.

BOSTON, MA · CIK 1034196 · 13F filing filed 2023-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

Legal entityAdvent International, L.P. (US)

$8.6bn reported value +5.2% vs Q1 2023

20positions

98.1%in top 10

1 new 2 added 6 reduced 5 sold out vs Q1 2023

Holdings, Q2 2023

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	CCC INTELLIGENT SOLUTIONS HL COM CCC	CCC	355,628,649	$4.0bn46.14%	46.14%	Unchanged
2	OLAPLEX HLDGS INC COM OLPX	OLPX	499,468,771	$1.9bn21.50%	21.50%	Unchanged
3	SOVOS BRANDS INC COM COM		42,612,154	$833.5m9.65%	9.65%	Reduced -11.2m	-11,150,000 -20.7%
4	DEFINITIVE HEALTHCARE CORP CLASS A COM DH	DH	62,493,676	$687.4m7.96%	7.96%	Unchanged
5	FIRST WATCH RESTAURANT GROUP COM FWRG	FWRG	34,539,784	$583.7m6.76%	6.76%	Reduced -7.0m	-7,025,000 -16.9%
6	TRANSDIGM GROUP INC COM TDG	TDG	199,650	$178.5m2.07%	2.07%	Unchanged
7	NU HLDGS LTD ORD SHS CL A NU	NU	18,491,345	$145.9m1.69%	1.69%	Added +1.9m	+1,923,592 11.6%
8	ENVESTNET INC COM ENV	ENV	1,881,239	$111.7m1.29%	1.29%	Unchanged
9	XP INC CL A XP	XP	2,062,138	$48.4m0.56%	0.56%	Reduced -600.0k	-600,000 -22.5%
10	FIVE BELOW INC COM FIVE	FIVE	203,306	$40.0m0.46%	0.46%	Reduced -70.0k	-70,005 -25.6%
11	ELASTIC N V ORD SHS ESTC	ESTC	452,716	$29.0m0.34%	0.34%	Unchanged
12	ADOBE INC COM ADBE	ADBE	54,900	$26.8m0.31%	0.31%	Reduced -16.1k	-16,100 -22.7%
13	NCS MULTISTAGE HLDGS INC COM NEW NCSM	NCSM	1,478,426	$25.1m0.29%	0.29%	Unchanged
14	DYNATRACE INC COM NEW DT	DT	431,660	$22.2m0.26%	0.26%	Reduced -345.0k	-345,001 -44.4%
15	ATI PHYSICAL THERAPY INC COM CL A ATIP	ATIP	2,316,613	$21.2m0.25%	0.25%	New
16	INTUIT COM INTU	INTU	45,843	$21.0m0.24%	0.24%	Added +30.0k	+29,993 189.2%
17	AUTODESK INC COM ADSK	ADSK	73,937	$15.1m0.18%	0.18%	Unchanged
18	CI&T INC COM CL A CINT	CINT	556,699	$3.5m0.04%	0.04%	Unchanged
19	SERVICENOW INC COM NOW	NOW	3,232	$1.8m0.02%	0.02%	Unchanged
20	RAPID MICRO BIOSYSTEMS INC CLASS A COM RPID	RPID	577,777	$577.8k0.01%	0.01%	Unchanged

Sold out since Q1 2023

Security	Ticker	Shares held before	Value then
STONECO LTD STNE	STNE	3,102,182	$29.6m3.1m shares
ATI PHYSICAL THERAPY INC		115,830,656	$29.0m115.8m shares
FLYWIRE CORPORATION FLYW	FLYW	812,700	$23.9m812.7k shares
RAYMOND JAMES FINL INC RJF	RJF	228,528	$21.3m228.5k shares
VTEX VTEX	VTEX	1,000,000	$3.8m1.0m shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
INNIO NV INIO · 13G · filed 2026-08-13	INIO	86.2%≈ $25.6bn	new	13G	2026-08-13
DEFINITIVE HEALTHCARE CORP DH · 13D · filed 2026-10-01	DH	58.5%≈ $51.9m	no change	13D	2026-10-01
INTUITIVE MACHINES INC LUNR · 13G · filed 2026-01-20	LUNR	16.0%≈ $491.8m	new	13G	2026-01-20
WAYSTAR HLDG CORP WAY · 13D · filed 2025-10-03	WAY	5.8%≈ $227.1m	new	13D	2025-10-03

Trades reported as a company insider in Q2 2023

Owning 10% or more of a company, or having someone on its board, makes this manager an insider there: it reports its trades in that company's shares on Form 4 within two business days. Open-market and private purchases and sales only.

Date	Company	Ticker	Trade	Shares	Value	Their holding
2023-06-13	FIRST WATCH RESTAURANT GROUP 10% owner · See Notes	FWRG	Sold	3,000,000	$49.3m3.0m shares	-8%
2023-06-13	FIRST WATCH RESTAURANT GROUP 10% owner · See Notes	FWRG	Sold	3,000,000	$49.3m3.0m shares	-8%
2023-06-13	FIRST WATCH RESTAURANT GROUP 10% owner · See Notes	FWRG	Sold	3,000,000	$49.3m3.0m shares	-8%
2023-05-18	FIRST WATCH RESTAURANT GROUP 10% owner · See Notes	FWRG	Sold	4,025,000	$62.3m4.0m shares	-10%
2023-05-18	FIRST WATCH RESTAURANT GROUP 10% owner · See Notes	FWRG	Sold	4,025,000	$62.3m4.0m shares	-10%
2023-05-18	FIRST WATCH RESTAURANT GROUP 10% owner · See Notes	FWRG	Sold	4,025,000	$62.3m4.0m shares	-10%