<SEC-DOCUMENT>0001140361-25-040534.txt : 20251105
<SEC-HEADER>0001140361-25-040534.hdr.sgml : 20251105
<ACCEPTANCE-DATETIME>20251105160519
ACCESSION NUMBER:		0001140361-25-040534
CONFORMED SUBMISSION TYPE:	SCHEDULE 13G/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20251105
DATE AS OF CHANGE:		20251105

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			ADC Therapeutics SA
		CENTRAL INDEX KEY:			0001771910
		STANDARD INDUSTRIAL CLASSIFICATION:	PHARMACEUTICAL PREPARATIONS [2834]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				000000000
		STATE OF INCORPORATION:			V8
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-91517
		FILM NUMBER:		251453857

	BUSINESS ADDRESS:	
		STREET 1:		BIOPOLE
		STREET 2:		ROUTE DE LA CORNICHE 3B
		CITY:			EPALINGES
		STATE:			V8
		ZIP:			1066
		BUSINESS PHONE:		41 21 653 02 00

	MAIL ADDRESS:	
		STREET 1:		BIOPOLE
		STREET 2:		ROUTE DE LA CORNICHE 3B
		CITY:			EPALINGES
		STATE:			V8
		ZIP:			1066

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Oaktree Capital Group Holdings GP, LLC
		CENTRAL INDEX KEY:			0001403525
		ORGANIZATION NAME:           	
		EIN:				000000000
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		SCHEDULE 13G/A

	BUSINESS ADDRESS:	
		STREET 1:		333 SOUTH GRAND AVENUE
		STREET 2:		28TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90071
		BUSINESS PHONE:		(213) 830-6300

	MAIL ADDRESS:	
		STREET 1:		333 SOUTH GRAND AVENUE
		STREET 2:		28TH FLOOR
		CITY:			LOS ANGELES
		STATE:			CA
		ZIP:			90071
</SEC-HEADER>
<DOCUMENT>
<TYPE>SCHEDULE 13G/A
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
<XML>
<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/schedule13g" xmlns:com="http://www.sec.gov/edgar/common">
<headerData>
<submissionType>SCHEDULE 13G/A</submissionType>
<previousAccessionNumber>0001140361-24-024395</previousAccessionNumber>
<filerInfo>
<filer>
<filerCredentials>
<cik>0001403525</cik>
<ccc>XXXXXXXX</ccc>
</filerCredentials>
</filer>
<liveTestFlag>LIVE</liveTestFlag>



</filerInfo>
</headerData>
<formData>
<coverPageHeader>
<amendmentNo>1</amendmentNo>
<securitiesClassTitle>Common Shares</securitiesClassTitle>
<eventDateRequiresFilingThisStatement>09/30/2025</eventDateRequiresFilingThisStatement>
<issuerInfo>
<issuerCik>0001771910</issuerCik>
<issuerName>ADC Therapeutics SA</issuerName>
<issuerCusip>H0036K147</issuerCusip>
<issuerPrincipalExecutiveOfficeAddress>
<com:street1>Biopole</com:street1>
<com:street2>Route de la Corniche 3B</com:street2>
<com:city>Epalinges</com:city>
<com:stateOrCountry>V8</com:stateOrCountry>
<com:zipCode>1066</com:zipCode>
</issuerPrincipalExecutiveOfficeAddress>
</issuerInfo>
<designateRulesPursuantThisScheduleFiled>
<designateRulePursuantThisScheduleFiled>Rule 13d-1(c)</designateRulePursuantThisScheduleFiled>
</designateRulesPursuantThisScheduleFiled>
</coverPageHeader>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Oaktree Fund Administration, LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>4673441</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>4673441</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>4673441</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>4.14</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
<comments>The reported securities represent 4,409,794 shares of Common Stock and 263,647 shares of Common Stock issuable upon exercise of warrants to acquire shares of Common Stock ("Warrants").&#13;
&#13;
The reported percentage is calculated based on (i) 112,499,395 shares of Common Stock outstanding as of August 1, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 12, 2025, as increased by (ii) 263,647 Common Stock issuable in respect of the Warrants.</comments>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Oaktree Capital Holdings, LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>4673441</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>4673441</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>4673441</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>4.14</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
<comments>The reported securities represent 4,409,794 shares of Common Stock and 263,647 shares of Common Stock issuable upon exercise of Warrants.&#13;
&#13;
The reported percentage is calculated based on (i) 112,499,395 shares of Common Stock outstanding as of August 1, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 12, 2025, as increased by (ii) 263,647 Common Stock issuable in respect of the Warrants.</comments>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Oaktree Capital Group Holdings GP, LLC</reportingPersonName>
<citizenshipOrOrganization>DE</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>4673441</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>4673441</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>4673441</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>4.14</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
<comments>The reported securities represent 4,409,794 shares of Common Stock and 263,647 shares of Common Stock issuable upon exercise of Warrants.&#13;
&#13;
The reported percentage is calculated based on (i) 112,499,395 shares of Common Stock outstanding as of August 1, 2025, as reported in the Issuer's Form 10-Q filed with the SEC on August 12, 2025, as increased by (ii) 263,647 Common Stock issuable in respect of the Warrants.</comments>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Brookfield Asset Management ULC</reportingPersonName>
<citizenshipOrOrganization>A1</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
<comments>The reporting person which previously reported together with the Oaktree Reporting Persons, has been determined to no longer act together with the Oaktree Reporting Persons, and therefore has ceased to be the beneficial owner of any securities covered by this Statement.</comments>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Brookfield Corporation</reportingPersonName>
<citizenshipOrOrganization>A6</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
<comments>The reporting person which previously reported together with the Oaktree Reporting Persons, has been determined to no longer act together with the Oaktree Reporting Persons, and therefore has ceased to be the beneficial owner of any securities covered by this Statement.</comments>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>Brookfield Asset Management, Ltd.</reportingPersonName>
<citizenshipOrOrganization>A1</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
<comments>The reporting person which previously reported together with the Oaktree Reporting Persons, has been determined to no longer act together with the Oaktree Reporting Persons, and therefore has ceased to be the beneficial owner of any securities covered by this Statement.</comments>
</coverPageHeaderReportingPersonDetails>
<coverPageHeaderReportingPersonDetails>

<reportingPersonName>BAM Partners Trust</reportingPersonName>
<citizenshipOrOrganization>A6</citizenshipOrOrganization>
<reportingPersonBeneficiallyOwnedNumberOfShares>
<soleVotingPower>0</soleVotingPower>
<sharedVotingPower>0</sharedVotingPower>
<soleDispositivePower>0</soleDispositivePower>
<sharedDispositivePower>0</sharedDispositivePower>
</reportingPersonBeneficiallyOwnedNumberOfShares>
<reportingPersonBeneficiallyOwnedAggregateNumberOfShares>0</reportingPersonBeneficiallyOwnedAggregateNumberOfShares>
<aggregateAmountExcludesCertainSharesFlag>N</aggregateAmountExcludesCertainSharesFlag>
<classPercent>0</classPercent>
<typeOfReportingPerson>OO</typeOfReportingPerson>
<comments>The reporting person which previously reported together with the Oaktree Reporting Persons, has been determined to no longer act together with the Oaktree Reporting Persons, and therefore has ceased to be the beneficial owner of any securities covered by this Statement.</comments>
</coverPageHeaderReportingPersonDetails>
<items>
<item1>
<issuerName>ADC Therapeutics SA</issuerName>
<issuerPrincipalExecutiveOfficeAddress>Biopole, Route de la Corniche 3B, Epalinges, Switzerland, 1066</issuerPrincipalExecutiveOfficeAddress>
</item1>
<item2>
<filingPersonName>This statement is filed by the entities and persons listed below, all of whom together are referred to herein as the "Reporting Persons": &#13;
&#13;
(i)	Oaktree Fund Administration, LLC ("Fund Admin."); &#13;
(ii)	Oaktree Capital Holdings, LLC ("OCH"), a Delaware limited liability, in its capacity as the indirect manager of Fund Admin.; &#13;
(iii)	Oaktree Capital Group Holdings GP, LLC ("OCGH," and together with Fund Admin. and OCH, the "Oaktree Reporting Persons"), a Delaware limited liability company, in its capacity as an indirect owner of OCH;&#13;
(iv)	Brookfield Asset Management ULC, a British Columbia corporation ("Brookfield ULC"), in its capacity as an indirect owner of OCH; &#13;
(v)	Brookfield Asset Management Ltd. ("BAM"), a British Columbia company, in its capacity as an owner of Brookfield ULC;&#13;
(vi)	Brookfield Corporation, an Ontario corporation, in its capacity as an owner of BAM; and &#13;
(vii)	BAM Partners Trust (together with Brookfield ULC, Brookfield Corporation, and BAM, the "Brookfield Reporting Persons"), an Ontario trust, in its capacity as the sole owner of the Class B Shares of each of Brookfield Corporation and BAM.</filingPersonName>
<principalBusinessOfficeOrResidenceAddress>The principal business address of each of the Oaktree Reporting Persons is 333 S. Grand Avenue, 28th Floor, Los Angeles, CA 90071. &#13;
&#13;
The principal business address of each of the Brookfield Reporting Persons is 181 Bay Street, Suite 100, Brookfield Place, Toronto, Ontario, Canada M5J 2T3.</principalBusinessOfficeOrResidenceAddress>
<citizenship>See responses to Item 4 on each cover page.</citizenship>
</item2>
<item3>
<notApplicableFlag>Y</notApplicableFlag>
</item3>
<item4>
<amountBeneficiallyOwned>See responses to Item 9 on each cover page.</amountBeneficiallyOwned>
<classPercent>See responses to Item 11 on each cover page.</classPercent>
<numberOfSharesPersonHas>
<solePowerOrDirectToVote>See responses to Item 5 on each cover page.</solePowerOrDirectToVote>
<sharedPowerOrDirectToVote>See responses to Item 6 on each cover page.</sharedPowerOrDirectToVote>
<solePowerOrDirectToDispose>See responses to Item 7 on each cover page.</solePowerOrDirectToDispose>
<sharedPowerOrDirectToDispose>See responses to Item 8 on each cover page.</sharedPowerOrDirectToDispose>
</numberOfSharesPersonHas>
</item4>
<item5>
<notApplicableFlag>N</notApplicableFlag>
<classOwnership5PercentOrLess>Y</classOwnership5PercentOrLess>
</item5>
<item6>
<notApplicableFlag>Y</notApplicableFlag>
</item6>
<item7>
<notApplicableFlag>Y</notApplicableFlag>
</item7>
<item8>
<notApplicableFlag>Y</notApplicableFlag>
</item8>
<item9>
<notApplicableFlag>Y</notApplicableFlag>
</item9>
<item10>
<notApplicableFlag>N</notApplicableFlag>
<certifications>By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.</certifications>
</item10>
</items>
<signatureInformation>
<reportingPersonName>Oaktree Fund Administration, LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Henry Orren</signature>
<title>Henry Orren/ Senior Vice President</title>
<date>11/05/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Oaktree Capital Holdings, LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Henry Orren</signature>
<title>Henry Orren/ Senior Vice President</title>
<date>11/05/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Oaktree Capital Group Holdings GP, LLC</reportingPersonName>
<signatureDetails>
<signature>/s/ Henry Orren</signature>
<title>Henry Orren/ Senior Vice President</title>
<date>11/05/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Brookfield Asset Management ULC</reportingPersonName>
<signatureDetails>
<signature>/s/ Kathy Sarpash</signature>
<title>Kathy Sarpash/Managing Director, Legal &amp; Regulatory</title>
<date>11/05/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Brookfield Corporation</reportingPersonName>
<signatureDetails>
<signature>/s/ Swati Mandava</signature>
<title>Swati Mandava/ Managing Director, Legal &amp; Regulatory</title>
<date>11/05/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>Brookfield Asset Management, Ltd.</reportingPersonName>
<signatureDetails>
<signature>/s/ Kathy Sarpash</signature>
<title>Kathy Sarpash/ Managing Director, Legal &amp; Regulatory</title>
<date>11/05/2025</date>
</signatureDetails>
</signatureInformation>
<signatureInformation>
<reportingPersonName>BAM Partners Trust</reportingPersonName>
<signatureDetails>
<signature>/s/ Kathy Sarpash</signature>
<title>Kathy Sarpash/Secretary</title>
<date>11/05/2025</date>
</signatureDetails>
</signatureInformation>
</formData>
</edgarSubmission>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
