SEC 13F Intelligence

Managers / Q2 2021 · view latest →

ADVENT INTERNATIONAL, L.P.

CIK 0001034196 · 800 BOYLSTON STREET SUITE 3300, BOSTON, MA, 02199 · 6179510555

Reported Value
$2.1B
Q2 2021
Positions
17
Filings on Record
31
2019–present window
Filed
Aug 13, 2021
original filing

Summary

Advent International, L.P. reported $2.1B in U.S.-listed holdings across 17 positions for Q2 2021.

The portfolio is heavily concentrated: Ati Physical Therapy alone accounts for 52.9% of reported value.

Compared with Q1 2021, the fund opened 3 new positions and exited 2.

Portfolio Metrics

Turnover
+46.1%
vs prior filed quarter
Top-10 Concentration
+90.8%
share of reported value
Largest Position
+52.9%
Ati Physical Therapy
New / Exited
3 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $3.0BQ4 ’18Q1 ’19: $2.7BQ2 ’19: $2.3BQ3 ’19: $2.3BQ4 ’19: $2.0BQ4 ’19Q1 ’20: $1.3BQ2 ’20: $1.9BQ3 ’20: $1.8BQ4 ’20: $2.0BQ4 ’20Q1 ’21: $1.7BQ2 ’21: $2.1BQ3 ’21: $21.6BQ4 ’21: $24.0BQ4 ’21Q1 ’22: $16.3BQ2 ’22: $14.3BQ3 ’22: $11.2BQ4 ’22: $8.6BQ4 ’22Q1 ’23: $8.2BQ2 ’23: $8.6BQ3 ’23: $8.4BQ4 ’23: $7.5BQ4 ’23Q1 ’24: $5.7BQ2 ’24: $4.2BQ3 ’24: $4.7BQ4 ’24: $4.3BQ4 ’24Q1 ’25: $3.2BQ2 ’25: $3.1BQ3 ’25: $5.0BQ4 ’25: $4.8BQ4 ’25Q1 ’26: $4.2Bfilingsflow.com

Portfolio Composition

By security type
Other: 57.1%Common Stock: 42.9%
  • Other · 57.1% · $1.2B
  • Common Stock · 42.9% · $896M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ATI PHYSICAL THERAPY INCNEW+115.83M115.83M+$1.1B$1.1B
AFRMAFFIRM HLDGS INCNEW+1.16M1.16M+$78M$78M
FLYWFLYWIRE CORPORATIONNEW+1.31M1.31M+$48M$48M
8INSYNEOS HEALTH INCSOLD OUT−10.76M0−$817M$0
QUALTRICS INTL INCSOLD OUT−110.0K0−$4M$0
NOWSERVICENOW INCTRIMMED−74.5K41.5K−$35M$23M
DTDYNATRACE INCTRIMMED−319.7K1.31M−$2M$76M
ADSKAUTODESK INCTRIMMED−29.0K277.7K−$4M$81M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q2 2021

17 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ATI PHYSICAL THERAPY INCCL A52.90%$1.1B115.83M
2ENVUSDENVESTNET INChistory →COM6.83%$143M1.88M
3T7DTRANSDIGM GROUP INChistory →COM5.11%$107M164.8K
4SCHWSCHWAB CHARLES CORPhistory →COM4.44%$93M1.27M
5XP INCCL A4.20%$88M2.02M
6ADSKAUTODESK INChistory →COM3.88%$81M277.7K
7AFRMAFFIRM HLDGS INChistory →COM CL A3.75%$78M1.16M
8DTDYNATRACE INChistory →COM NEW3.66%$76M1.31M
9RJFRAYMOND JAMES FINL INChistory →COM3.36%$70M539.6K
10FIVEFIVE BELOW INChistory →COM2.71%$57M292.8K
11FLYWFLYWIRE CORPORATIONhistory →COM VTG2.31%$48M1.31M
12NCSMNCS Multistagehistory →COM2.23%$47M1.48M
13DAYCERIDIAN HCM HLDG INChistory →COM2.02%$42M440.2K
14NOWSERVICENOW INChistory →COM1.09%$23M41.5K
15INTUINTUIThistory →COM0.62%$13M26.6K
16IFFINTERNATIONAL FLAVORS&FRAGRAhistory →COM0.52%$11M72.5K
17SPGIS&P GLOBAL INCCOM0.36%$7M18.1K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$4.2B31May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$4.8B25Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$5.0B26Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$3.1B22Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$3.2B25May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$4.3B24Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$4.7B23Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$4.2B24Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$5.7B20May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$7.5B21Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$8.4B21Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$8.6B22Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$8.2B26May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$8.6B27Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$11.2B28Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$14.3B27Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$16.3B27May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$24.0B28Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$21.6B27Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$2.1B17Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.7B16May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.0B17Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.8B17Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.9B13Aug 18, 2020RESTATEMENTchanges · EDGAR ↗
Q1 2020$1.3B11May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$2.0B13Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$2.3B14Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$2.3B17Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$2.7B14May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$3.0B19Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.