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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 4 of 9  ·  177 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
61 MSCI MSCI Inc Financial Services 55,494.0 $31.8M 0.37% -15K -21.5% $573.73 +5.1%
62 SBUX Starbucks Corp Consumer Cyclical 367,263.0 $30.9M 0.36% -93K -20.2% $84.21 +12.6%
63 SCHR Schwab Intermediate-Term U.S. 1,132,088.0 $28.4M 0.33% -7K -0.6% $25.08 -2.4%
64 ORCL Oracle Corp Technology 133,071.0 $25.9M 0.30% -38K -22.3% $194.91 +8.7%
65 ALC Alcon Inc Healthcare 320,900.0 $25.3M 0.29% -39K -10.9% $78.81 -16.1%
66 PEP PepsiCo Inc Consumer Defensive 173,291.0 $24.9M 0.29% -3K -1.6% $143.52 -2.0%
67 KBE State Street SPDR S&P Bank ETF 406,063.0 $24.6M 0.28% -15K -3.5% $60.69 +5.8%
68 VGK Vanguard FTSE Europe ETF 266,160.0 $22.3M 0.26% -4K -1.4% $83.61 +4.7%
69 ITW Illinois Tool Works Inc Industrials 86,961.0 $21.4M 0.25% -914.0 -1.0% $246.30 +2.5%
70 ADP Automatic Data Processing Inc Industrials 70,666.0 $18.2M 0.21% -1K -2.0% $257.23 -10.9%
71 MS Morgan Stanley Financial Services 101,108.0 $17.9M 0.21% -22K -17.9% $177.53 +19.6%
72 IEF iShares 7-10 Year Treasury Bon 164,014.0 $15.8M 0.18% -6K -3.4% $96.16 -2.7%
73 HSY Hershey Co/The Consumer Defensive 85,914.0 $15.6M 0.18% -1K -1.3% $181.98 -3.3%
74 Berkshire Hathaway Inc 30,808.0 $15.5M 0.18% -1K -3.4% $502.65
75 EZU iShares MSCI Eurozone ETF 237,385.0 $15.2M 0.17% -27K -10.4% $64.10 +6.2%
76 ABBV AbbVie Inc Healthcare 65,421.0 $14.9M 0.17% -2K -2.9% $228.49 -2.4%
77 UNP Union Pacific Corp Industrials 64,069.0 $14.8M 0.17% -2K -3.5% $231.32 +16.1%
78 BAC Bank of America Corp Financial Services 254,087.0 $14.0M 0.16% -10K -3.6% $55.00 -2.5%
79 IGIB iShares 5-10 Year Investment G 245,961.0 $13.3M 0.15% -64K -20.5% $53.88 -2.2%
80 NKE NIKE Inc Consumer Cyclical 207,225.0 $13.2M 0.15% -433K -67.7% $63.71 -32.1%
Page 4 of 9  ·  177 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%