MADRONE ADVISORS, LLC
CIK
1964563
Location
Denver, CO
Portfolio Value
Small
$923,910,794
Diversification
Highly concentrated
Filing Date
Global Rank
#1,836
/ 8,603
▼ 418
· as of Mar 2026
Top Industry
Internet Content & Information
51.2%
3Y Alpha vs SPY
-36.4%
Period ended 3 months ago
Filed May 14, 2026 · 56d
14 quarters · since Dec 2022
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
-38.3%
SPY
+76.0%
Annualised alpha
-35.6%
Max drawdown
−66.9%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
4 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
51.2%
−16.3 pts
Top 5
100.0%
0.0 pts
Top 10
100.0%
0.0 pts
HHI
4,199
Highly concentrated−1,010
Portfolio Trend
14 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Communication Services | 51.2% | $472,867,543 |
| Technology | 40.0% | $369,184,106 |
| Industrials | 8.9% | $81,859,145 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increasedNo qualifying positions this quarter.
Trimmed
Positions the filer reduced
1 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| QXO | QXO, Inc. | −900,000 | 4,215,198 | $81,859,145 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarterNo qualifying positions this quarter.
Sold Out
Positions the filer fully exitedNo qualifying positions this quarter.
4 positions ·
$923,910,794 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| STUB |
StubHub Holdings, Inc.
Communication Services
|
Held | 75,780,055 | $472,867,543 | 51.18% | |
| STNE |
StoneCo Ltd.
Technology
|
Held | 25,339,276 | $357,790,577 | 38.73% | |
| QXO |
QXO, Inc.
Industrials
|
Reduced | 4,215,198 | $81,859,145 | 8.86% | |
| FIG |
Figma, Inc.
Technology
|
Held | 538,956 | $11,393,529 | 1.23% |