Madison Avenue Partners, LP
Long book
$2.30B
Q1 2026
Positions
27
Top-10 weight
78%
concentration
Last quarter
+45.4%
SPY +14.8%
Turnover
33%
of book per quarter
Strategy in plain words
auto-generated from filingsMadison Avenue Partners, LP is a concentrated fundamental stock-picker, running a $2.30B US long book across 27 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: SANDISK CORP, GRAHAM HOLDINGS CO-CLASS B, COUPANG INC, MAGNUM ICE CREAM CO NV/THE, MARKEL GROUP INC.
Over the last 9 quarters its long book ran on average 12.2pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+2.0%
Q2 2024
+18.1%
Q3 2024
+1.3%
Q4 2024
+2.3%
Q1 2025
+2.2%
Q2 2025
+29.4%
Q3 2025
+28.0%
Q4 2025
+21.7%
Q1 2026
+45.4%
Sector allocation
Healthcare 32%
Technology 19%
Services media 15%
Financials 12%
Consumer staples 10%
Consumer discretionary 8%
Other 2%
Communications 1%
Long book by quarter
What does Madison Avenue own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SNDK SANDISK CORP | Technology | 619.0K | $393.3M | 17.1% | -56.8% |
| GHC GRAHAM HOLDINGS CO-CLASS B | Services media | 245.8K | $259.9M | 11.3% | Held |
| CPNG COUPANG INC | Consumer discretionary | 9.4M | $176.8M | 7.7% | New |
| MICC MAGNUM ICE CREAM CO NV/THE | Consumer staples | 11.4M | $171.1M | 7.4% | +78.0% |
| MKL MARKEL GROUP INC | Financials | 87.9K | $168.2M | 7.3% | Held |
| TBPH THERAVANCE BIOPHARMA INC | Healthcare | 9.5M | $154.4M | 6.7% | Held |
| ICLR ICON PLC | Healthcare | 1.3M | $142.0M | 6.2% | New |
| INDV INDIVIOR PHARMACEUTICALS INC | Healthcare | 4.3M | $131.5M | 5.7% | -31.3% |
| SOLV SOLVENTUM CORP | Healthcare | 1.9M | $122.5M | 5.3% | -5.6% |
| MOH MOLINA HEALTHCARE INC | Financials | 633.9K | $84.5M | 3.7% | Held |
| GMED GLOBUS MEDICAL INC - A | Healthcare | 717.5K | $61.8M | 2.7% | -72.7% |
| STGW STAGWELL INC | Services media | 8.0M | $50.4M | 2.2% | Held |
| STAA STAAR SURGICAL CO | Healthcare | 2.4M | $45.7M | 2.0% | New |
| WLY WILEY (JOHN) & SONS-CLASS A | Other | 678.4K | $25.8M | 1.1% | -40.9% |
| PRMB PRIMO BRANDS CORP | Consumer staples | 1.3M | $24.9M | 1.1% | New |
| TPB TURNING POINT BRANDS INC | Consumer staples | 247.7K | $21.5M | 0.9% | Held |
| SBGI SINCLAIR INC | Communications | 1.5M | $19.1M | 0.8% | +62.0% |
| DNOW DNOW INC | Industrials | 1.4M | $16.3M | 0.7% | New |
| MAGN MAGNERA CORP | Other | 1.6M | $15.1M | 0.7% | -10.7% |
| CBC CENTRAL BANCOMPANY | Financials | 444.9K | $10.7M | 0.5% | -55.2% |
| KROS KEROS THERAPEUTICS INC | Healthcare | 626.6K | $6.9M | 0.3% | -23.9% |
| PAR PAR TECHNOLOGY CORP/DEL | Technology | 447.9K | $6.0M | 0.3% | New |
| SN SHARKNINJA INC | Industrials | 6.2K | $651K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 27 | $2.30B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 23 | $2.33B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 20 | $1.68B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 26 | $1.50B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 22 | $1.18B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 15 | $944.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 25 | $1.08B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 20 | $791.6M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 18 | $619.9M | canonical | SEC ↗ |
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