Madison Avenue Partners, LP Portfolio Holdings by Sector

Madison Avenue Partners, LP

Industry	Value	Buys	Sells	New Positions	Closed Positions	Options
Biotechnology \| Healthcare TBPH SAGE GLPG KROS ARVN PLRX OVID 7 stocks	$255,495 27.36% of portfolio	5	1	3	-	0 Calls 0 Puts
Education & Training Services \| Consumer Defensive GHC 1 stocks	$232,068 24.85% of portfolio	-	-	-	-	0 Calls 0 Puts
Insurance—Property & Casualty \| Financial Services MKL 1 stocks	$168,397 18.03% of portfolio	-	1	-	-	0 Calls 0 Puts
Medical Devices \| Healthcare GMED 1 stocks	$101,050 10.82% of portfolio	1	-	1	-	0 Calls 0 Puts
Publishing \| Communication Services WLY 1 stocks	$91,611 9.81% of portfolio	-	1	-	-	0 Calls 0 Puts
Advertising Agencies \| Communication Services STGW 1 stocks	$36,064 3.86% of portfolio	1	-	-	-	0 Calls 0 Puts
Credit Services \| Financial Services NNI 1 stocks	$17,467 1.87% of portfolio	-	1	-	-	0 Calls 0 Puts
Restaurants \| Consumer Cyclical CNNE 1 stocks	$14,058 1.51% of portfolio	1	-	-	-	0 Calls 0 Puts
REIT—Residential \| Real Estate AIV 1 stocks	$12,748 1.37% of portfolio	1	-	1	-	0 Calls 0 Puts
REIT—Office \| Real Estate FSP 1 stocks	$4,231 0.45% of portfolio	-	1	-	-	0 Calls 0 Puts
Farm & Heavy Construction Machinery \| Industrials CMCO 1 stocks	$701 0.08% of portfolio	-	1	-	-	0 Calls 0 Puts

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