AVK - Advent Convertible & Income Fund

What this means for you

Sit Investment owned more than 5% of this fund and has since sold down below that level, so it no longer has to report its holding.

Nothing is required of you. If a large investor buys in again, the notice appears here the day it is filed.

Email me if this changes

What happened, and when

1. April 6, 2026

   Sit Investment sold down below 5% and stopped reporting.

   Original document →

2. Jan 3, 2025

   Sit Investment now owns 9.9%, as a passive investor.

   Original document →

About this fund

• Run by Advent Capital Management, LLC. As of Oct 31, 2025, from the fund's yearly report. Original document →
• Size: about $594 million of holdings, as of April 30, 2026. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Borrowing: the fund borrows about 38% on top of its own money, as of April 30, 2026. Borrowed money makes gains and losses bigger. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• Costs: 0.9% a year in management fees; 4.5% a year in total, including interest on borrowed money. Fiscal year ended Oct 31, 2025. As of Oct 31, 2025, from the fund's yearly report. Original document →
• Payouts: last fiscal year (ended Oct 31, 2025) the fund paid $1.41 a share. $0.44 of that was income; $0.76 came from gains; $0.21 was your own money back, not income. As of Oct 31, 2025, from the fund's annual report. Original document →
• Value of holdings per share at the last fiscal year end (Oct 31, 2025): $13.39. The shares traded at $12.99, about 3% below that. As of Oct 31, 2025, from the fund's yearly report. Original document →
• How the holdings did: up 4% over the last three months we have (Feb-April 2026), before the share price is taken into account. Over the last 12 months: +29.6%. As of April 30, 2026, from the fund's quarterly holdings report. Original document →
• How the holdings did over the fiscal year (ended Oct 31, 2025): the value of the holdings returned +23.7%. How the share price did: the shares returned +31.1% over the same year, counting payouts and the change in the market price. As of Oct 31, 2025, from the fund's annual report. Original document →
• First reported to the regulator in 2003.

What the fund holds

Mostly bonds (79%), the rest shares, preferred shares and cash and short-term holdings. About 79% issued in the U.S.

1. Rbb Fund Trust Advent Conv Bd ETF - 4.5%
2. Boeing Company 6% Ser A Dep Shs Repstg 1/20TH Int Mandatory Conv preferred shares - 2%
3. Cloudflare, Net 0 06/15/30 - 1.6%
4. Microchip Technology Inc 7.50 % Dep Shs Repstg 1/20TH Pfd Conv preferred shares - 1.6%
5. Western Digital, Wdc 3 11/15/28 - 1.5%
6. Snowflake, Snow 0 10/01/29 - 1.4%
7. Affirm Holdings, Afrm 0.75 12/15/29 - 1.4%
8. Coreweave, Crwv 1.75 10/01/32 - 1.3%
9. Lumentum Holdings, Lite 0.375 03/15/32 - 1.3%
10. Riot Platforms, Riot 0.75 01/15/30 - 1.3%

As of April 30, 2026, from the fund's quarterly holdings report. Original document →