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TMS320F28335 ADC digital value question

The ADC reference guide (page 10) says that the digital value of the analog value is given as follows:

Digital value = 4096*(Analog value - ADCLO)/3

I am feeding a 3V(max) signal into the ADC. The 3V signal is the actual signal that I intend to measure, meaning that analog scaling is 1:1. So if my understanding is correct, then feeding a 3V signal in the ADC will give a digital value of 4096*(3-2.048)/3 = 1300. If this is indeed true, then it seems a bit awkward that the ADC doesn't even fully utilize the 12bits, since the maximum digital value generated is 1300. Please clarify.