Advent International, L.P.

BOSTON, MA · CIK 1034196 · 13F filing filed 2025-11-14

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)

$5.0bn reported value +61.1% vs Q2 2025

25positions

89.6%in top 10

5 new 5 added 9 reduced 1 sold out vs Q2 2025

Holdings, Q3 2025

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	NIQ GLOBAL INTELLIGENCE PLC ORDINARY SHARES NIQ	NIQ	149,380,246	$2.3bn47.23%	47.23%	New
2	OLAPLEX HLDGS INC COM OLPX	OLPX	499,468,771	$654.3m13.18%	13.18%	Unchanged
3	CCC INTELLIGENT SOLUTIONS HL COM CCC	CCC	37,342,526	$340.2m6.85%	6.85%	Reduced -30.0m	-30,000,000 -44.5%
4	CI&T INC COM CL A CINT	CINT	49,637,891	$255.6m5.15%	5.15%	Unchanged
5	DEFINITIVE HEALTHCARE CORP CLASS A COM DH	DH	62,493,676	$253.7m5.11%	5.11%	Unchanged
6	NU HLDGS LTD ORD SHS CL A NU	NU	10,057,459	$161.0m3.24%	3.24%	Reduced -1.7m	-1,742,500 -14.8%
7	CARPENTER TECHNOLOGY CORP COM CRS	CRS	557,903	$137.0m2.76%	2.76%	Reduced -117.4k	-117,429 -17.4%
8	TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS TSM	TSM	448,295	$125.2m2.52%	2.52%	Added +191.3k	+191,345 74.5%
9	BLUE OWL CAPITAL INC COM CL A OWL	OWL	5,476,907	$92.7m1.87%	1.87%	Added +443.3k	+443,307 8.8%
10	FIRST WATCH RESTAURANT GROUP COM FWRG	FWRG	5,289,784	$82.7m1.67%	1.67%	Reduced -9.4m	-9,400,000 -64.0%
11	NCS MULTISTAGE HLDGS INC COM NEW NCSM	NCSM	1,478,426	$75.5m1.52%	1.52%	Unchanged
12	WORKDAY INC CL A WDAY	WDAY	280,150	$67.4m1.36%	1.36%	Added +16.3k	+16,300 6.2%
13	GROUP 1 AUTOMOTIVE INC COM GPI	GPI	137,960	$60.4m1.22%	1.22%	Reduced -1.6k	-1,565 -1.1%
14	DYNATRACE INC COM NEW DT	DT	1,207,631	$58.5m1.18%	1.18%	Reduced -3.7k	-3,700 -0.3%
15	MARVELL TECHNOLOGY INC COM MRVL	MRVL	653,585	$54.9m1.11%	1.11%	Reduced -409.5k	-409,490 -38.5%
16	LITHIA MTRS INC COM LAD	LAD	150,181	$47.5m0.96%	0.96%	Added +780	+780 0.5%
17	SOLARIS ENERGY INFRAS INC COM CL A SEI	SEI	1,006,900	$40.2m0.81%	0.81%	New
18	TRANSDIGM GROUP INC COM TDG	TDG	22,264	$29.3m0.59%	0.59%	Reduced -9.9k	-9,890 -30.8%
19	EQUITABLE HLDGS INC COM EQH	EQH	529,600	$26.9m0.54%	0.54%	New
20	GFL ENVIRONMENTAL INC SUB VTG SHS GFL	GFL	365,000	$17.3m0.35%	0.35%	Added +100	+100 0.0%
21	AUTODESK INC COM ADSK	ADSK	51,315	$16.3m0.33%	0.33%	New
22	SYNOPSYS INC COM SNPS	SNPS	25,450	$12.6m0.25%	0.25%	New
23	ARES MANAGEMENT CORPORATION CL A COM STK ARES	ARES	36,735	$5.9m0.12%	0.12%	Reduced -120.8k	-120,800 -76.7%
24	INTUIT COM INTU	INTU	5,318	$3.6m0.07%	0.07%	Unchanged
25	RAPID MICRO BIOSYSTEMS INC CLASS A COM RPID	RPID	577,777	$1.9m0.04%	0.04%	Unchanged

Sold out since Q2 2025

Security	Ticker	Shares held before	Value then
ATI PHYSICAL THERAPY INC ATIP	ATIP	2,316,613	$2.1m2.3m 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 Q3 2025

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
2025-09-08	FIRST WATCH RESTAURANT GROUP 10% owner · See footnotes	FWRG	Sold	4,400,000	$77.7m4.4m shares	-45%
2025-08-08	FIRST WATCH RESTAURANT GROUP 10% owner · See footnotes	FWRG	Sold	5,000,000	$88.5m5.0m shares	-34%
2025-08-07	CCC INTELLIGENT SOLUTIONS HL Director · See footnotes	CCC	Sold	30,000,000	$296.1m30.0m shares	-77%