Certain aspects of the present disclosure generally relate to an adaptive combination power supply circuit. The adaptive combination power supply circuit may be capable of switching between performing as a three-level buck converter and as a divide-by-two charge pump. One example power supply circuit generally includes a first transistor; a second transistor coupled to the first transistor via a first node; a third transistor coupled to the second transistor via a second node; a fourth transistor coupled to the third transistor via a third node; a capacitive element having a first terminal coupled to the first node and a second terminal coupled to the third node; an inductive element having a first terminal coupled to the second node; and a switch having a first terminal coupled to the first terminal of the inductive element, the switch having a second terminal coupled to a second terminal of the inductive element.