Madison Avenue Partners, LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Madison Avenue Partners, LP reported 26 stock positions worth $1.5 billion. Its top holding was Graham Class B (GHC) at 15.5% of the portfolio, followed by Solventum (SOLV, 11.4%) and Markel (MKL, 11.2%). Compared with Q1 2025, it opened 8 new positions, sold out of 4, added to 6 and reduced 8. The biggest buy was a new position in Sandisk (SNDK) and the biggest sale Solventum (SOLV, shares −20%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001801265
- Portfolio Value
- $1.5B (Q2 2025)
- SEC Filing
- 0001801265-25-000005 ↗ filed Aug 14, 2025
Holdings Value
Holdings 26 stocks · $1.5B
| GHC Graham Holdings Co. Class B | 15.49% | 245,271 | $232.1M | No change |
| SOLV Solventum Corp. | 11.36% | 2,244,344 | $170.2M | Reduce -20.2% |
| MKL Markel Group Inc. | 11.24% | 84,310 | $168.4M | Reduce -7.7% |
| SNDK Sandisk Corp. | 10.81% | 3,571,109 | $161.9M | New |
| INDV Indivior Ltd. | 7.80% | 7,922,178 | $116.8M | Add +1.7% |
| TBPH Theravance Biopharma Inc. | 7.00% | 9,511,150 | $104.9M | No change |
| GMED Globus Medical Inc. Class A | 6.75% | 1,712,148 | $101.1M | New |
| WLY Wiley (john) & Sons Class A | 6.12% | 2,052,696 | $91.6M | Reduce -7.0% |
| SAGE Sage Therapeutics Inc. | 3.70% | 6,077,065 | $55.4M | Add +35.7% |
| LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV | 3.51% | 1,877,011 | $52.5M | New |
| MAGN Magnera Corp. | 2.70% | 3,344,005 | $40.4M | No change |
| STGW Stagwell Inc. | 2.41% | 8,014,322 | $36.1M | Add +12.1% |
| KROS Keros Therapeutics Inc. | 2.40% | 2,691,465 | $35.9M | New |
| INVX Innovex International Inc. | 1.84% | 1,767,997 | $27.6M | Reduce -26.8% |
| MRP Millrose Properties | 1.57% | 825,804 | $23.5M | New |
| NNI Nelnet Inc. Class A | 1.17% | 144,214 | $17.5M | Reduce -38.3% |
| CRGX Cargo Therapeutics Inc. | 1.15% | 4,193,626 | $17.3M | Add +4054.1% |
| CNNE Cannae Holdings Inc. | 0.94% | 674,250 | $14.1M | Add +60.9% |
| AIV Apartment Invt & Mgmt Co. Class A | 0.85% | 1,473,826 | $12.7M | New |
| ALMS Alumis Inc. | 0.37% | 1,842,269 | $5.5M | New |
| FSP Franklin Street Properties C | 0.28% | 2,580,357 | $4.2M | Reduce -5.6% |
| ARVN Arvinas Inc. | 0.25% | 500,000 | $3.7M | New |
| PLRX Pliant Therapeutics Inc. | 0.17% | 2,230,012 | $2.6M | Add +33.1% |
| CMCO Columbus McKinnon Corp. | 0.05% | 45,961 | $702K | Reduce -92.6% |
| SN Sharkninja Inc. | 0.04% | 6,152 | $609K | No change |
| OVID Ovid Therapeutics Inc. | 0.03% | 1,311,362 | $433K | Reduce -46.8% |
Portfolio Sells Q1 2025 → Q2 2025
| SOLV Solventum Corp. | Reduce -20.2% | 11.36% | −6.80 |
| PCG P G & E Corp. | Sold out | 0.00% | −4.30 |
| MKL Markel Group Inc. | Reduce -7.7% | 11.24% | −3.26 |
| WLY Wiley (john) & Sons Class A | Reduce -7.0% | 6.12% | −2.24 |
| INVX Innovex International Inc. | Reduce -26.8% | 1.84% | −1.84 |
| NNI Nelnet Inc. Class A | Reduce -38.3% | 1.17% | −1.04 |
| SLRN Acelyrin Inc. | Sold out | 0.00% | −0.87 |
| CMCO Columbus McKinnon Corp. | Reduce -92.6% | 0.05% | −0.84 |
| TSVT 2SEVENTY Bio Inc. | Sold out | 0.00% | −0.24 |
| FSP Franklin Street Properties C | Reduce -5.6% | 0.28% | −0.13 |
| OVID Ovid Therapeutics Inc. | Reduce -46.8% | 0.03% | −0.04 |
| ACHC Acadia Healthcare Co. Inc. | Sold out | 0.00% | −0.02 |
Portfolio Buys Q1 2025 → Q2 2025
| SNDK Sandisk Corp. | New | 10.81% | +10.81 |
| GMED Globus Medical Inc. Class A | New | 6.75% | +6.75 |
| LKFT Lakefront Biotherapeutic-ADR | New | 3.51% | +3.51 |
| KROS Keros Therapeutics Inc. | New | 2.40% | +2.40 |
| MRP Millrose Properties | New | 1.57% | +1.57 |
| INDV Indivior Ltd. | Add +1.7% | 7.80% | +1.49 |
| CRGX Cargo Therapeutics Inc. | Add +4054.1% | 1.15% | +1.12 |
| AIV Apartment Invt & Mgmt Co. Class A | New | 0.85% | +0.85 |
| SAGE Sage Therapeutics Inc. | Add +35.7% | 3.70% | +0.68 |
| ALMS Alumis Inc. | New | 0.37% | +0.37 |
| CNNE Cannae Holdings Inc. | Add +60.9% | 0.94% | +0.29 |
| ARVN Arvinas Inc. | New | 0.25% | +0.25 |
| PLRX Pliant Therapeutics Inc. | Add +33.1% | 0.17% | −0.02 |
| STGW Stagwell Inc. | Add +12.1% | 2.41% | −1.26 |
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 |