Madison Asset Management, LLC

CIK

1299351

Location

MADISON, WI

Portfolio Value

Small $144,394,900

Diversification

Diversified

Filing Date

Global Rank

#544 / 8,586 ▼ 17

Top Industry

Diagnostics & Research 7.6%

3Y Alpha vs SPY

-10.0%

Period ended 3 months ago

Filed May 7, 2026 · 40d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+37.5%

SPY

+78.1%

Annualised alpha

-10.0%

Max drawdown

−18.9%

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

245 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.9%

+0.1 pts

Top 5

17.8%

+0.0 pts

Top 10

28.0%

−0.7 pts

HHI

163

Diversified−4

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	23.0%	$1,539,220,570	43
Technology	23.0%	$1,536,692,049	49
Industrials	16.9%	$1,131,365,797	39
Consumer Cyclical	14.7%	$980,412,503	22
Healthcare	12.2%	$814,602,563	31
Energy	2.5%	$169,170,431	10
Consumer Defensive	2.2%	$144,394,900	17
Communication Services	1.6%	$106,439,940	8
Unclassified	1.3%	$87,783,522	5
Basic Materials	1.2%	$80,507,857	12
Utilities	1.1%	$72,655,408	5
Real Estate	0.2%	$15,326,376	4

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
MC	Moelis & Co	+555,557	1,773,735	$101,102,895
BRO	Brown & Brown, Inc.	+320,512	2,307,622	$150,480,030
TTAN	ServiceTitan, Inc.	+262,037	900,112	$57,121,107
AMPL	Amplitude, Inc.	+236,060	314,060	$2,141,889
CL	Colgate Palmolive Co	+178,583	249,020	$21,223,974
AVGO	Broadcom Inc.	+96,265	105,626	$32,692,303
COP	Conocophillips	+93,408	210,608	$27,800,256
META	Meta Platforms, Inc.	+85,542	89,272	$51,075,189
LVS	Las Vegas Sands Corp	+84,500	162,500	$8,755,500
NU	Nu Holdings Ltd.	+84,230	217,448	$3,124,727
MIR	Mirion Technologies, Inc.	+67,679	124,323	$2,311,164
MRSH	Marsh & Mclennan Companies, Inc.	+65,576	355,913	$61,733,109
MTDR	Matador Resources Co	+59,699	280,699	$17,734,562
GTLB	Gitlab Inc.	+49,107	109,461	$2,368,736
MDT	Medtronic plc	+48,784	244,000	$21,142,600
PG	PROCTER & GAMBLE Co	+46,697	129,694	$18,733,001
CRM	Salesforce, Inc.	+45,978	92,577	$17,281,348
EFX	Equifax Inc	+37,431	70,191	$12,639,293
V	Visa Inc.	+34,321	389,869	$117,834,006
SEZL	Sezzle Inc.	+31,673	62,838	$3,977,017
FISV	Fiserv Inc	+31,100	110,600	$6,171,480
INTU	Intuit Inc.	+24,064	25,264	$10,923,648
SFGYY	Sony Financial Group Inc./ADR	+20,908	354,444	$1,598,542
MSA	MSA Safety Inc	+20,324	588,568	$96,495,723
MSFT	Microsoft Corp	+19,008	215,943	$79,935,620
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
PCAR	Paccar Inc	−697,074	1,585,366	$183,109,773
MKSI	Mks Inc	−583,114	338,336	$77,752,996
AES	Aes Corp	−544,000	550,000	$7,749,500
SBUX	Starbucks Corp	−364,882	2,381	$213,313
ACGL	Arch Capital Group Ltd.	−255,985	4,076,446	$391,298,051
CPRT	Copart Inc	−182,775	3,889,584	$129,134,188
ACN	Accenture plc	−157,756	86,498	$17,151,688
USB	US Bancorp De	−154,855	44,141	$2,295,773
FAST	Fastenal Co	−145,791	217,488	$10,091,443
ORCL	Oracle Corp	−130,600	2,471	$363,508
BN	BROOKFIELD Corp /ON/	−128,895	1,369,676	$55,430,787
BAM	Brookfield Asset Management Ltd.	−126,374	1,675,100	$74,458,195
NKE	NIKE, Inc.	−113,841	93,384	$4,932,542
WRB	Berkley W R Corp	−105,692	1,618,906	$107,301,089
KEYS	Keysight Technologies, Inc.	−96,339	422,973	$119,434,886
ROST	Ross Stores, Inc.	−94,463	1,412,924	$306,081,726
APH	Amphenol Corp /De/	−89,835	1,251,006	$158,064,608
TECH	BIO-TECHNE Corp	−88,250	1,093,058	$57,123,211
ITUB	Itau Unibanco Holding S.A.	−79,633	281,516	$2,359,104
HON	Honeywell International Inc	−79,146	306,928	$69,374,935
THO	Thor Industries Inc	−78,927	964,776	$77,075,954
VIAV	Viavi Solutions Inc.	−76,461	92,548	$3,079,997
OSW	ONESPAWORLD HOLDINGS Ltd	−71,891	84,681	$1,943,428
FORM	Formfactor Inc	−71,455	24,107	$2,338,137
TXN	Texas Instruments Inc	−69,573	608,305	$118,096,332
No positions match the current search.

New Positions

Positions the filer opened this quarter

17 positions

Ticker	Company	Shares	Value
TYL	Tyler Technologies Inc	160,289	$54,879,747
BSY	Bentley Systems Inc	981,380	$34,466,065
ARMP	Armata Pharmaceuticals, Inc.	2,107,675	$21,582,592
NEM	NEWMONT Corp /DE/	40,500	$4,384,125
AZN	Astrazeneca PLC	21,436	$4,227,607
SNPS	Synopsys Inc	8,800	$3,489,024
ICUI	Icu Medical Inc/De	18,061	$2,332,578
PCOR	Procore Technologies, Inc.	39,358	$2,243,406
SITE	SiteOne Landscape Supply, Inc.	13,046	$1,736,553
NTR	Nutrien Ltd.	13,077	$986,790
BG	Bunge Global SA	5,969	$759,256
PANW	Palo Alto Networks Inc	4,506	$722,401
WEC	Wec Energy Group, Inc.	5,485	$634,998
BA	Boeing Co	2,290	$455,778
ETN	Eaton Corp plc	996	$356,239
GLW	Corning Inc /Ny	1,598	$217,280
MO	Altria Group, Inc.	3,230	$213,147
No positions match the current search.

Sold Out

Positions the filer fully exited

10 positions

Ticker	Company	Shares	Value
RLI	Rli Corp	94,929	$6,073,557
CHRD	Chord Energy Corp	24,950	$2,312,865
NICE	NICE Ltd.	13,988	$1,581,203
GMED	Globus Medical Inc	15,151	$1,322,833
PRU	Prudential Financial Inc	5,686	$641,835
ATI	Ati Inc	5,500	$631,180
TGT	Target Corp	3,117	$304,686
BX	Blackstone Inc.	1,721	$265,274
AWI	Armstrong World Industries Inc	1,091	$208,490
AXP	American Express Co	556	$205,692
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

17 positions · $144,394,900 total · Consumer Defensive only · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
COST	Costco Wholesale Corp /New Consumer Defensive	Added	33,040	+5,459	$32,922,047	+38.4%	22.80%
PEP	Pepsico Inc Consumer Defensive	Added	184,455	+11,164	$28,644,016	+15.2%	19.84%
CL	Colgate Palmolive Co Consumer Defensive	Added	249,020	+178,583	$21,223,974	+281.3%	14.70%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	129,694	+46,697	$18,733,001	+57.5%	12.97%
ADM	Archer-Daniels-Midland Co Consumer Defensive	Held	170,500	0	$12,393,645	+26.4%	8.58%
STZ	Constellation Brands, Inc. Consumer Defensive	Held	58,900	0	$8,835,000	+8.7%	6.12%
HSY	Hershey Co Consumer Defensive	Reduced	29,602	-56,312	$6,153,959	−60.6%	4.26%
EPC	EDGEWELL PERSONAL CARE Co Consumer Defensive	Reduced	133,809	-1,226	$2,855,484	+24.0%	1.98%
PRMB	Primo Brands Corp Consumer Defensive	Reduced	143,096	-1,339	$2,694,497	+14.1%	1.87%
KO	Coca Cola Co Consumer Defensive	Added	30,727	+6,339	$2,336,788	+37.1%	1.62%
OLLI	Ollie's Bargain Outlet Holdings, Inc. Consumer Defensive	Reduced	23,010	-212	$2,117,840	−16.8%	1.47%
SMPL	Simply Good Foods Co Consumer Defensive	Reduced	143,206	-1,313	$2,055,006	−29.2%	1.42%
FMX	Mexican Economic Development Inc Consumer Defensive	Added	16,681	+859	$1,852,591	+15.9%	1.28%
BG	Bunge Global SA Consumer Defensive	NEW	5,969	NEW	$759,256	NEW	0.53%
WMT	Walmart Inc. Consumer Defensive	Reduced	3,012	-164	$374,331	+5.8%	0.26%
PM	Philip Morris International Inc. Consumer Defensive	Held	1,393	0	$230,318	+3.1%	0.16%
MO	Altria Group, Inc. Consumer Defensive	NEW	3,230	NEW	$213,147	NEW	0.15%