# Madrid Financial Services

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 2135336. Source: https://holderbook.com/funds/2135336-madrid-financial-services/

- Reported value: $189.0M
- Positions: 26
- Weight of the ten largest: 73.3%
- Filed: 2026-08-06

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| GLOBAL X FDS | [MLPA](https://holderbook.com/stocks/MLPA/) | $25.9M | 488,670 | 13.7% | 7 |
| ISHARES TR | [AOR](https://holderbook.com/stocks/AOR/) | $21.3M | 305,776 | 11.2% | 4 |
| ISHARES INC | [EWY](https://holderbook.com/stocks/EWY/) | $15.3M | 75,563 | 8.1% | 2 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $13.3M | 18,029 | 7.0% | 7 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $12.0M | 158,703 | 6.3% | 2 |
| SPDR SERIES TRUST | [SPYV](https://holderbook.com/stocks/SPYV/) | $11.6M | 190,549 | 6.1% | 7 |
| WISDOMTREE TR | [DXJ](https://holderbook.com/stocks/DXJ/) | $10.6M | 61,163 | 5.6% | 4 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $10.0M | 13,369 | 5.3% | 7 |
| INVESCO EXCHANGE TRADED FD T | [PPA](https://holderbook.com/stocks/PPA/) | $9.8M | 55,691 | 5.2% | 7 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $8.8M | 91,538 | 4.7% | 2 |
| GLOBAL X FDS | [MLPX](https://holderbook.com/stocks/MLPX/) | $8.5M | 115,817 | 4.5% | 6 |
| ISHARES TR | [IJH](https://holderbook.com/stocks/IJH/) | $8.4M | 108,847 | 4.4% | 7 |
| WISDOMTREE TR | [DTH](https://holderbook.com/stocks/DTH/) | $7.9M | 146,900 | 4.2% | 2 |
| VANECK ETF TRUST | [NLR](https://holderbook.com/stocks/NLR/) | $7.8M | 67,263 | 4.1% | 5 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $7.3M | 24,438 | 3.9% | 2 |
| VANECK ETF TRUST | [REMX](https://holderbook.com/stocks/REMX/) | $4.1M | 46,281 | 2.2% | 1 |
| ISHARES TR | [AOA](https://holderbook.com/stocks/AOA/) | $2.8M | 28,378 | 1.5% | 7 |
| ISHARES TR | [AOK](https://holderbook.com/stocks/AOK/) | $933.7K | 22,509 | 0.5% | 7 |
| EA SERIES TRUST | [BSVO](https://holderbook.com/stocks/BSVO/) | $575.2K | 19,705 | 0.3% | 2 |
| SPDR SERIES TRUST | [BIL](https://holderbook.com/stocks/BIL/) | $371.5K | 4,054 | 0.2% | 1 |
| FIDELITY COVINGTON TRUST | [FELC](https://holderbook.com/stocks/FELC/) | $335.3K | 8,000 | 0.2% | 3 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $324.7K | 1,623 | 0.2% | 4 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $274.1K | 1,150 | 0.1% | 5 |
| ISHARES TR | [LQD](https://holderbook.com/stocks/LQD/) | $259.0K | 2,375 | 0.1% | 7 |
| WALMART INC | [WMT](https://holderbook.com/stocks/WMT/) | $237.8K | 2,100 | 0.1% | 2 |
| ISHARES TR | [AOM](https://holderbook.com/stocks/AOM/) | $236.4K | 4,739 | 0.1% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +6.1% | +14.8% | -8.7% | 100% |
| Q1 2026 | +5.2% | -4.6% | +9.8% | 100% |
| Q4 2025 | +1.0% | +2.4% | -1.4% | 100% |
| Q3 2025 | +5.0% | +7.8% | -2.9% | 100% |
| Q2 2025 | +3.5% | +10.5% | -7.0% | 100% |
| Q1 2025 | +3.9% | -4.6% | +8.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $189.0M | 26 |
| Q1 2026 | $169.4M | 26 |
| Q4 2025 | $139.1M | 20 |
| Q3 2025 | $159.9M | 24 |
| Q2 2025 | $147.6M | 24 |
| Q1 2025 | $137.3M | 17 |
| Q4 2024 | $125.9M | 20 |