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Livermore
Livermore
ZHEN

Madison Avenue Partners, LP

SEC CIK
0001801265
Latest filing
Aug 14, 2026

The latest 13F from Madison Avenue Partners, LP covers Q2 2026 (filed Aug 14, 2026): 25 long positions worth $2.32B. The top 10 holdings make up 77.1% of the portfolio, and the largest is Graham Holdings Co (GHC) at 12.1%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
7
Est. +$464.9M
Added
7
Est. +$198.5M
Reduced
8
Est. −$1.48B
Sold out
9
Est. −$311.4M

Top 5 holdings

Share of this quarter's portfolio value

  1. GHCGraham Holdings Co
    12.1%$281.2MHistory
  2. INVHInvitation Homes Inc.
    10.8%$251.8MHistory
  3. MKLMarkel Group Inc.
    9.4%$219.4MHistory
  4. CPNGCoupang, Inc.
    9.3%$216.4MHistory
  5. MICCMagnum Ice Cream Co N.V.
    8.2%$189.6MHistory

Share of portfolio

Top 5 holdings and the other 20 positions, by share of portfolio value

  1. GHC12.1%
  2. INVH10.8%
  3. MKL9.4%
  4. CPNG9.3%
  5. MICC8.2%
  6. Other 20 positions50.1%

Biggest buys

New and added positions, by estimated amount bought

  1. INVHInvitation Homes Inc.
    +$251.8MNewHistory
  2. OCTVOctave Intelligence plc
    +$68.8MNewHistory
  3. CPNGCoupang, Inc.
    +$53.7MAddedHistory
  4. STAAStaar Surgical Co
    +$49.8MAddedHistory
  5. MKLMarkel Group Inc.
    +$47.7MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. INVHInvitation Homes Inc.
    +10.84 pp0.0% → 10.8%History
  2. STAAStaar Surgical Co
    +3.17 pp2.0% → 5.2%History
  3. OCTVOctave Intelligence plc
    +2.96 pp0.0% → 3.0%History
  4. MKLMarkel Group Inc.
    +2.13 pp7.3% → 9.4%History
  5. SANMSanmina Corp
    +2.05 pp0.0% → 2.1%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. SNDKSandisk Corp
    −$1.39BReducedHistory
  2. ICLRIcon PLC
    −$142.0MSold outHistory
  3. MOHMolina Healthcare, Inc.
    −$84.5MSold outHistory
  4. INDVIndivior Pharmaceuticals, Inc.
    −$59.1MReducedHistory
  5. WLYJohn Wiley & Sons, Inc.
    −$25.8MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. SNDKSandisk Corp
    −16.15 pp17.1% → 0.9%History
  2. ICLRIcon PLC
    −6.17 pp6.2% → 0.0%History
  3. MOHMolina Healthcare, Inc.
    −3.67 pp3.7% → 0.0%History
  4. WLYJohn Wiley & Sons, Inc.
    −1.12 pp1.1% → 0.0%History
  5. PRMBPrimo Brands Corp
    −1.08 pp1.1% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$2.32B
+$23.3M (+1.0%) vs. prior quarter
Positions
25
−2 vs. prior quarter
Top 10 concentration
77.1%
Top 10 as share of value
Turnover
28.7%
Q2 2026, one quarter
Average holding period
7.2 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $2.33B (Q4 2025)

Q1 2021: $326.4MQ2 2021: $334.8MQ3 2021: $451.3MQ4 2021: $461.9MQ1 2022: $535.6MQ2 2022: $488.8MQ3 2022: $466.1MQ4 2022: $564.5MQ1 2023: $464.9MQ2 2023: $458.3MQ3 2023: $704.7MQ4 2023: $708.3MQ1 2024: $619.9MQ2 2024: $791.6MQ3 2024: $1.08BQ4 2024: $944.4MQ1 2025: $1.18BQ2 2025: $1.50BQ3 2025: $1.68BQ4 2025: $2.33BQ1 2026: $2.30BQ2 2026: $2.32B
Q1 2021Q2 2026
13F filings of Madison Avenue Partners, LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202625$2.32BGHCINVHMKLvs. Q1 2026SEC
Q1 2026May 15, 202627$2.30BSNDKGHCCPNGvs. Q4 2025SEC
Q4 2025Feb 17, 202623$2.33BSNDKGHCGMEDvs. Q3 2025SEC
Q3 2025Nov 14, 202520$1.68BGHCSNDKMKLvs. Q2 2025SEC
Q2 2025Aug 14, 202526$1.50BGHCSOLVMKLvs. Q1 2025SEC
Q1 2025May 15, 202522$1.18BGHCSOLVMKLvs. Q4 2024SEC
Q4 2024Feb 14, 202515$944.4MGHCSOLVWLYvs. Q3 2024SEC
Q3 2024Nov 14, 202425$1.08BSOLVGHCLBRDKvs. Q2 2024SEC
Q2 2024Aug 14, 202420$791.6MGHCSOLVGMEDvs. Q1 2024SEC
Q1 2024May 15, 202418$619.9MGHCSNTBPHvs. Q4 2023SEC
Q4 2023Feb 16, 202419$708.3MSNGHCTBPHvs. Q3 2023SEC
Q3 2023Nov 14, 202320$704.7MSNGHCGIIIvs. Q2 2023SEC
Q2 2023Aug 14, 202319$458.3MGHCGIIITBPHvs. Q1 2023SEC
Q1 2023May 15, 202318$464.9MGHCTBPHGIIIvs. Q4 2022SEC
Q4 2022Feb 14, 202322$564.5MGHCTBPHSMCIvs. Q3 2022SEC
Q3 2022Nov 14, 202218$466.1MGHCTBPHSLVMvs. Q2 2022SEC
Q2 2022Aug 15, 202216$488.8MGHCTBPHSLVMvs. Q1 2022SEC
Q1 2022May 16, 202218$535.6MGHCTBPHSMCIvs. Q4 2021SEC
Q4 2021Feb 14, 202216$461.9MGHCTBPHSMCIvs. Q3 2021SEC
Q3 2021Nov 15, 202117$451.3MGHCCVSASMCIvs. Q2 2021SEC
Q2 2021Aug 16, 202114$334.8MGHCSMCIJRVRvs. Q1 2021SEC
Q1 2021May 17, 202114$326.4MSMCIGHCCVSA–SEC

13D and 13G filings

Companies where Madison Avenue Partners, LP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

7 companies, largest stake first.

Companies where Madison Avenue Partners, LP owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
TBPHTheravance Biopharma, Inc.13G/A17.70%9.21M shares–Sep 27, 20216 filingsAug 14, 2026SEC
AIVApartment Investment & Management Co13G8.60%12.3M sharesNewMar 4, 20261 filingMar 4, 2026SEC
STAAStaar Surgical Co13G/A8.40%4.18M shares+2.60 ppfrom 5.80%Apr 20, 20262 filingsAug 14, 2026SEC
GHCGraham Holdings Co13G7.50%246.4K shares–May 30, 20242 filingsAug 14, 2026SEC
MDRXVeradigm Inc.13G6.60%7.17M shares–Jun 10, 20243 filingsJan 29, 2026SEC
LKFTLakefront Biotherapeutics NV13G5.50%3.61M sharesNewJun 23, 20261 filingJun 23, 2026SEC
SLRNACELYRIN, Inc.13D5.10%5.09M sharesNewApr 30, 20251 filingApr 30, 2025SEC

Latest filings

59 filings on file made by Madison Avenue Partners, LP or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Madison Avenue Partners, LP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
TBPHTheravance Biopharma, Inc.Aug 14, 202610:09 AM ET13G/A17.70%9.21M shares–Jun 30, 2026SEC
GHCGraham Holdings CoAug 14, 202610:06 AM ET13G7.50%246.4K shares–Jun 30, 2026SEC
STAAStaar Surgical CoAug 14, 202610:04 AM ET13G/A8.40%4.18M shares+2.60 ppfrom 5.80%Jun 30, 2026SEC
LKFTLakefront Biotherapeutics NVJun 23, 20266:49 PM ET13G5.50%3.61M sharesNewJun 15, 2026SEC
MAGNMagnera CorpMay 15, 20269:25 AM ET13G/A4.40%1.59M shares−0.60 ppfrom 5.00%Below 5%Mar 31, 2026SEC
INDVIndivior Pharmaceuticals, Inc.May 15, 20269:18 AM ET13G/A3.50%4.32M shares−1.50 ppfrom 5.00%Below 5%Mar 31, 2026SEC
STAAStaar Surgical CoApr 20, 20265:24 PM ET13G5.80%2.85M sharesNewApr 13, 2026SEC
AIVApartment Investment & Management CoMar 4, 20265:36 PM ET13G8.60%12.3M sharesNewFeb 26, 2026SEC
MAGNMagnera CorpFeb 17, 20265:06 PM ET13G/A5.00%1.78M shares−3.00 ppfrom 8.00%Dec 31, 2025SEC
INDVIndivior Pharmaceuticals, Inc.Feb 17, 20264:57 PM ET13G/A5.00%6.28M shares−1.00 ppfrom 6.00%Dec 31, 2025SEC
KROSKeros Therapeutics, Inc.Feb 17, 20264:52 PM ET13G/A2.70%823.7K shares−3.70 ppfrom 6.40%Below 5%Dec 31, 2025SEC
MDRXVeradigm Inc.Jan 29, 20265:00 PM ET13G6.60%7.17M shares–Jan 22, 2026SEC
MAGNMagnera CorpNov 14, 202510:18 AM ET13G/A8.00%2.83M shares–Sep 30, 2025SEC
CRGXCARGO Therapeutics, Inc.Nov 14, 202510:17 AM ET13G/A0.00%0 shares−9.10 ppfrom 9.10%Below 5%Sep 30, 2025SEC
SAGESage Therapeutics, Inc.Nov 14, 202510:15 AM ET13G/A0.00%0 shares−9.70 ppfrom 9.70%Below 5%Sep 30, 2025SEC
SAGESage Therapeutics, Inc.Aug 14, 20259:22 AM ET13G/A9.70%6.08M shares+1.70 ppfrom 8.00%Jun 30, 2025SEC
CRGXCARGO Therapeutics, Inc.Aug 14, 20259:20 AM ET13G/A9.10%4.19M shares+2.30 ppfrom 6.80%Jun 30, 2025SEC
KROSKeros Therapeutics, Inc.May 14, 20255:49 PM ET13G6.40%2.61M sharesNewMay 7, 2025SEC
SLRNACELYRIN, Inc.Apr 30, 20258:27 PM ET13D5.10%5.09M sharesNewApr 29, 2025SEC
CRGXCARGO Therapeutics, Inc.Apr 28, 20255:07 PM ET13G6.80%3.11M sharesNewApr 21, 2025SEC