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Portfolio (Quarterly) Guide ↗

Madison Asset Management, LLC

· CIK 0001299351
13F Portfolio $8.7B AUM 342 positions Filed Feb 4, 2026 EDGAR ↗ ← All Funds
Q4 2025 Q3 2025 · All 27 New 85 Added 177 Reduced 21 Exited
Page 2 of 5  ·  85 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
21 ECL Ecolab Inc Basic Materials 63,218.0 $16.6M 0.19% +5K +8.7% $262.52 -1.9%
22 VV Vanguard Large-Cap ETF 49,754.0 $15.7M 0.18% +2K +3.7% $314.80 +8.2%
23 FAST Fastenal Co Industrials 363,279.0 $14.6M 0.17% +115K +46.4% $40.13 +14.6%
24 SPTI State Street SPDR Portfolio In 454,171.0 $13.1M 0.15% +3K +0.6% $28.84 -2.3%
25 MCD McDonald's Corp Consumer Cyclical 41,366.0 $12.6M 0.14% +17K +68.2% $305.63 -9.1%
26 ABT Abbott Laboratories Healthcare 97,681.0 $12.2M 0.14% +14K +16.5% $125.29 -27.8%
27 ADBE Adobe Inc Technology 34,887.0 $12.2M 0.14% +8K +31.1% $349.99 -30.0%
28 PG Procter & Gamble Co Consumer Defensive 82,997.0 $11.9M 0.14% +22K +36.8% $143.31 +1.2%
29 UNH UnitedHealth Group Inc Healthcare 35,623.0 $11.8M 0.14% +2K +6.5% $330.11 +23.2%
30 USB U.S. Bancorp Financial Services 198,996.0 $10.6M 0.12% +32K +19.5% $53.36 +3.7%
31 FLXR TCW Flexible Income ETF 249,639.0 $9.9M 0.11% +14K +5.8% $39.60 -1.6%
32 VFH Vanguard Financials ETF 65,237.0 $8.7M 0.10% +3K +4.9% $133.49 -4.6%
33 VRTX Vertex Pharmaceuticals Inc Healthcare 16,435.0 $7.5M 0.09% +234.0 +1.4% $453.36 -2.3%
34 QLTY GMO US Quality ETF 183,547.0 $7.1M 0.08% +163K +783.0% $38.46 +6.2%
35 SMG Scotts Miracle-Gro Co/The Basic Materials 112,598.0 $6.6M 0.08% +730.0 +0.7% $58.35 -1.4%
36 HAYW Hayward Holdings Inc Industrials 423,937.0 $6.5M 0.07% +3K +0.6% $15.45 -8.7%
37 CNM Core & Main Inc Industrials 116,796.0 $6.1M 0.07% +773.0 +0.7% $51.97 +0.4%
38 TCBI Texas Capital Bancshares Inc Financial Services 60,996.0 $5.5M 0.06% +5K +9.4% $90.54 +11.1%
39 ENTG Entegris Inc Technology 62,756.0 $5.3M 0.06% +403.0 +0.7% $84.25 +57.5%
40 OPCH Option Care Health Inc Healthcare 163,684.0 $5.2M 0.06% +1K +0.6% $31.86 -37.0%
Page 2 of 5  ·  85 positions

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Technology 23.0%
Financial Services 22.5%
Industrials 17.3%
Consumer Cyclical 15.2%
Healthcare 12.5%
Communication Services 4.3%
Energy 1.5%
Consumer Defensive 1.5%
Utilities 1.0%
Basic Materials 0.9%