MADRONE ADVISORS, LLC

CIK 1964563 · View on SEC EDGAR ↗

Portfolio value
$1.4B
#1,950 of 9,443 by 13F value · top 20.7%
Positions
6
As of
June 30, 2026

Portfolio value QoQ: +35.7% 13F does not disclose cash

Top 10 holdings weight
100.00%
Top 25 holdings weight
100.00%
Positions above 1%
5
Effective number of positions
1.9

Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)

Turnover Q2 2026: 1.81% Est. buys $21,969,094 · sells $77,578,031

Median holding: 4.0 quarters Tracked Q4 2024–Q2 2026 · 66.7% still held

New positions
1
Increased
0
Decreased
1
Closed
1
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Performance vs S&P 500

Tracked Q2 2025–Q2 2026
-18.0%
S&P 500 total return (same window)
+21.7%
Excess return
-39.6%

Annualized: -18.0% · S&P 500: +21.7%

Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.

Priceable coverage: 94.1% · Options excluded: 0.0%

Sector breakdown

Communication Services
69.9%
Financial Services
21.3%
Industrials
5.2%
Technology
0.7%
Other/Unmapped
2.9%

Full portfolio 6 positions

Type Streak 8Q trend
STUB StubHub Holdings, Inc. Class A Common Stock $975,289,308 69.92% 75,780,055 $502,421,765
STNE StoneCo Ltd. - Class A Common Share $274,677,752 19.69% 25,339,276 $-83,112,825
QXO QXO, Inc. Common Stock $72,838,621 5.22% 4,215,198 $-9,020,524
VT $40,298,168 2.89% 256,758 $-63,586,100 Down ×1
COF Capital One Financial Corporation Common Stock $21,969,094 1.58% 109,506 Up ×1
FIG Figma, Inc. Class A Common Stock $9,749,714 0.70% 538,956 $-1,643,816

Biggest new bets

New positions opened this quarter, largest first.

Security Value Shares % of portfolio
COF $21,969,094 109,506 1.58%

Top movers (QoQ)

Security Action Shares Δ Value Δ
STUB Price move only +0 +$502.4M
STNE Price move only +0 -$83.1M
VT Trimmed -494K -$63.6M
QXO Price move only +0 -$9.0M
FIG Price move only +0 -$1.6M

Exited positions

Includes corporate events (mergers, delistings) — not all exits are sells

Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.

SecurityQuarter Shares before Value before Price since exit
PACB Dec. 31, 2025 4,976,089 $6,369,394 -34.1%
ILMN June 30, 2025 80,000 $6,347,200 109.7%
OPRT Sept. 30, 2025 16,587 $118,763 23.7%