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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 6 of 9  ·  177 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
101 LVS Las Vegas Sands Corp Consumer Cyclical 78,000.0 $5.1M 0.06% -197K -71.6% $65.09 -22.0%
102 AMT American Tower Corp Real Estate 28,568.0 $5.0M 0.06% -82K -74.1% $175.57 +7.7%
103 CAT Caterpillar Inc Industrials 8,366.0 $4.8M 0.06% -11K -56.5% $572.87 +59.8%
104 TSM Taiwan Semiconductor Manufactu Technology 15,293.0 $4.6M 0.05% -3K -14.1% $303.89 +40.4%
105 REGN Regeneron Pharmaceuticals Inc Healthcare 5,969.0 $4.6M 0.05% -142.0 -2.3% $771.87 -20.8%
106 AXS Axis Capital Holdings Ltd Financial Services 42,881.0 $4.6M 0.05% -9K -16.8% $107.09 -10.2%
107 GOOGL Alphabet Inc Communication Services 14,511.0 $4.5M 0.05% -324.0 -2.2% $313.00 +16.1%
108 NVDA NVIDIA Corp Technology 22,639.0 $4.2M 0.05% -2K -7.1% $186.50 +11.9%
109 BABA Alibaba Group Holding Ltd - Sp Consumer Cyclical 27,444.0 $4.0M 0.05% -1K -3.9% $146.58 -18.1%
110 Ping An Insurance Group Co of 222,664.0 $3.7M 0.04% -10K -4.4% $16.78
111 DELISTED: AstraZeneca PLC - Sp 40,584.0 $3.7M 0.04% -2K -3.8% $91.93
112 CCJ Cameco Corp Energy 39,851.0 $3.6M 0.04% -19K -32.0% $91.49 +15.2%
113 CMCSA Comcast Corp Communication Services 120,521.0 $3.6M 0.04% -377K -75.8% $29.89 -20.5%
114 AIA Group Ltd - Spons ADR 86,499.0 $3.5M 0.04% -4K -4.5% $41.03
115 HDB HDFC Bank Ltd - Spons ADR Financial Services 91,380.0 $3.3M 0.04% -4K -3.9% $36.54 -37.0%
116 OSW OneSpaWorld Holdings Ltd Consumer Cyclical 156,572.0 $3.2M 0.04% -31K -16.3% $20.74 +17.1%
117 GWW WW Grainger Inc Industrials 3,182.0 $3.2M 0.04% -105.0 -3.2% $1009.05 +29.3%
118 SPMD State Street SPDR Portfolio S& 51,395.0 $3.0M 0.03% -2K -3.1% $57.91 +12.2%
119 PUK Prudential PLC - Spons ADR Financial Services 94,884.0 $3.0M 0.03% -5K -4.7% $31.12 -17.8%
120 KION Group AG - Unspons ADR 136,605.0 $2.7M 0.03% -6K -4.5% $19.82
Page 6 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%