Madison Asset Management, LLC

CIK 0001299351 · Q2 2026

13F Equity AUM

$8.4B

+4.0% QoQ

Positions

347

-2 QoQ

AUM Rank

#585

Top 7%

Skill Alpha (FF)

-3.9%/yr

Underperformer

Rank #7,325 · Top 88%

vs S&P -5.8%/yr (unadj.)

Quarters Tracked

~6 years

Portfolio Concentration

Top 5: 13.8%Top 10: 23.0%Top 20: 38.0%

ACGL4.4%

GOOG2.6%

APH2.5%

ROST2.3%

PCAR2.1%

TXN2.0%

AMZN1.9%

CSL1.8%

CDW1.8%

MKSI1.7%

Others (337)77.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services32.7%

Technology20.2%

Industrials14.3%

Healthcare10.6%

Consumer Cyclical9.7%

Communication Services4.9%

Other7.4%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 347Median: 0.06%Avg: 0.29%

0–0.5%

283(27.0%)

0.5–1%

35(25.3%)

1–3%

28(43.4%)

3–5%

1(4.4%)

5%+

0(0.0%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 347vs 20 funds

0%Low

347

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New20Increased130Decreased162Exited22

New Positions

VRSK0.8%

+399K

Honeywell Aerospace …0.6%

+225K

Honeywell Internatio…0.5%

+199K

ICE0.5%

+324K

ExxonMobil Holdings …0.3%

+207K

AJG0.2%

+72K

WST0.1%

+28K

XLV0.1%

+52K

EMR0.1%

+37K

XLE0.1%

+86K

Increased

VFLO0.6%

+527K(+111%)

BSY0.5%

+384K(+39%)

AOS1.1%

+324K(+28%)

VGT0.5%

+300K(+601%)

AVEM0.3%

+231K(+645%)

GBCI0.7%

+214K(+23%)

IGIB0.4%

+184K(+46%)

GGG0.6%

+174K(+39%)

SCHW0.9%

+126K(+17%)

CPRT1.4%

+124K(+3%)

Decreased

ROST2.3%

-526,283(-37%)

ANET0.4%

-505,710(-74%)

SPHQ1.0%

-345,663(-27%)

MSTI0.5%

-298,259(-12%)

DSTL0.4%

-277,136(-34%)

ACGL4.4%

-276,657(-7%)

EEMA0.2%

-232,634(-63%)

KBE0.1%

-178,063(-53%)

SCHR0.2%

-156,881(-20%)

BRO1.6%

-146,600(-6%)

Exited

-306,928

-1,188,921

-212,258

-70,191

-25,264

-147,781

-82,862

-29,010

-162,223

-143,206

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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