Madison Avenue Partners, LP
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Madison Avenue Partners, LP reported 22 stock positions worth $1.2 billion. Its top holding was Graham Class B (GHC) at 20.0% of the portfolio, followed by Solventum (SOLV, 18.2%) and Markel (MKL, 14.5%). Compared with Q4 2024, it opened 8 new positions, sold out of 1, added to 4 and reduced 5. The biggest buy was a new position in Markel (MKL) and the biggest sale Acadia Healthcare (ACHC, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001801265
- Portfolio Value
- $1.2B (Q1 2025)
- SEC Filing
- 0001801265-25-000004 ↗ filed May 15, 2025
Holdings Value
Holdings 22 stocks · $1.2B
| GHC Graham Holdings Co. Class B | 20.01% | 245,271 | $235.7M | Add +4.3% |
| SOLV Solventum Corp. | 18.16% | 2,813,017 | $213.9M | Reduce -0.5% |
| MKL Markel Group Inc. | 14.50% | 91,357 | $170.8M | New |
| WLY Wiley (john) & Sons Class A | 8.35% | 2,208,066 | $98.4M | Add +5.3% |
| TBPH Theravance Biopharma Inc. | 7.21% | 9,511,150 | $84.9M | No change |
| INDV Indivior Ltd. | 6.30% | 7,792,089 | $74.3M | Add +112.1% |
| MAGN Magnera Corp. | 5.16% | 3,344,005 | $60.7M | Reduce -1.8% |
| PCG P G & E Corp. | 4.30% | 2,950,000 | $50.7M | New |
| INVX Innovex International Inc. | 3.68% | 2,413,608 | $43.3M | Add +43.1% |
| STGW Stagwell Inc. | 3.67% | 7,147,662 | $43.2M | No change |
| SAGE Sage Therapeutics Inc. | 3.02% | 4,477,798 | $35.6M | New |
| NNI Nelnet Inc. Class A | 2.20% | 233,830 | $25.9M | Reduce -19.4% |
| CMCO Columbus McKinnon Corp. | 0.89% | 619,343 | $10.5M | New |
| SLRN Acelyrin Inc. | 0.87% | 4,142,640 | $10.2M | New |
| CNNE Cannae Holdings Inc. | 0.65% | 418,984 | $7.7M | New |
| FSP Franklin Street Properties C | 0.41% | 2,733,418 | $4.9M | No change |
| TSVT 2SEVENTY Bio Inc. | 0.24% | 579,895 | $2.9M | No change |
| PLRX Pliant Therapeutics Inc. | 0.19% | 1,675,043 | $2.3M | New |
| OVID Ovid Therapeutics Inc. | 0.07% | 2,465,623 | $769K | Reduce -33.8% |
| SN Sharkninja Inc. | 0.04% | 6,152 | $513K | No change |
| CRGX Cargo Therapeutics Inc. | 0.03% | 100,952 | $411K | New |
| ACHC Acadia Healthcare Co. Inc. | 0.02% | 9,486 | $288K | Reduce -99.5% |
Portfolio Sells Q4 2024 → Q1 2025
| ACHC Acadia Healthcare Co. Inc. | Reduce -99.5% | 0.02% | −8.06 |
| EDR Endeavor Group Hold Class A | Sold out | 0.00% | −7.94 |
| SOLV Solventum Corp. | Reduce -0.5% | 18.16% | −1.62 |
| MAGN Magnera Corp. | Reduce -1.8% | 5.16% | −1.40 |
| NNI Nelnet Inc. Class A | Reduce -19.4% | 2.20% | −1.08 |
| OVID Ovid Therapeutics Inc. | Reduce -33.8% | 0.07% | −0.30 |
Portfolio Buys Q4 2024 → Q1 2025
| MKL Markel Group Inc. | New | 14.50% | +14.50 |
| PCG P G & E Corp. | New | 4.30% | +4.30 |
| SAGE Sage Therapeutics Inc. | New | 3.02% | +3.02 |
| INDV Indivior Ltd. | Add +112.1% | 6.30% | +1.47 |
| INVX Innovex International Inc. | Add +43.1% | 3.68% | +1.19 |
| CMCO Columbus McKinnon Corp. | New | 0.89% | +0.89 |
| SLRN Acelyrin Inc. | New | 0.87% | +0.87 |
| CNNE Cannae Holdings Inc. | New | 0.65% | +0.65 |
| PLRX Pliant Therapeutics Inc. | New | 0.19% | +0.19 |
| CRGX Cargo Therapeutics Inc. | New | 0.03% | +0.03 |
| WLY Wiley (john) & Sons Class A | Add +5.3% | 8.35% | −1.35 |
| GHC Graham Holdings Co. Class B | Add +4.3% | 20.01% | −1.71 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 25 | $2.3B | GHC, INVH, MKL, CPNG, MICC |
| Q1 2026 | 27 | $2.3B | SNDK, GHC, CPNG, MICC, MKL |
| Q4 2025 | 23 | $2.3B | SNDK, GHC, GMED, INDV, MKL |
| Q3 2025 | 20 | $1.7B | GHC, SNDK, MKL, INDV, GMED |
| Q2 2025 | 26 | $1.5B | GHC, SOLV, MKL, SNDK, INDV |
| Q1 2025 | 22 | $1.2B | GHC, SOLV, MKL, WLY, TBPH |
| Q4 2024 | 15 | $944.4M | GHC, SOLV, WLY, TBPH, ACHC |
| Q3 2024 | 25 | $1.1B | SOLV, GHC, LBRDK, WLY, GMED |
| Q2 2024 | 20 | $791.6M | GHC, SOLV, GMED, TBPH, WLY |
| Q1 2024 | 18 | $619.9M | GHC, SN, TBPH, WLY, HES |