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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 14 of 18  ·  342 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
261 SAP SAP SE - Spons ADR Technology 6,810.0 $1.7M 0.02% +1K +18.7% $242.91 -25.1%
262 FNDX Schwab Fundamental U.S. Large 60,771.0 $1.7M 0.02% $27.21 +13.3%
263 AAON AAON Inc Industrials 21,363.0 $1.6M 0.02% NEW $76.25 +73.2%
264 FMX Fomento Economico Mexicano SAB Consumer Defensive 15,822.0 $1.6M 0.02% -589.0 -3.6% $101.07 +21.2%
265 NXPI NXP Semiconductors NV Technology 7,334.0 $1.6M 0.02% -300.0 -3.9% $217.06 +38.7%
266 DLTH Duluth Holdings Inc Consumer Cyclical 762,777.0 $1.6M 0.02% $2.08 +107.2%
267 NICE Nice Ltd - Spons ADR Technology 13,988.0 $1.6M 0.02% +4K +46.6% $113.04 -19.2%
268 YUMC Yum China Holdings Inc Consumer Cyclical 32,276.0 $1.5M 0.02% -1K -3.8% $47.74 -11.3%
269 XSHQ Invesco S&P SmallCap Quality E 36,338.0 $1.5M 0.02% -228K -86.2% $42.09 +8.6%
270 Sika AG - Unspons ADR 73,238.0 $1.5M 0.02% +6K +8.8% $20.43
271 RACE Ferrari NV Consumer Cyclical 3,867.0 $1.4M 0.02% +592.0 +18.1% $369.56 -4.9%
272 IRM Iron Mountain Inc Real Estate 17,052.0 $1.4M 0.02% -908.0 -5.1% $82.95 +48.9%
273 Lonza Group AG - Unspons ADR 20,934.0 $1.4M 0.02% -992.0 -4.5% $67.19
274 IWM iShares Russell 2000 ETF 5,686.0 $1.4M 0.02% $246.16 +15.4%
275 STT State Street Corp Financial Services 10,684.0 $1.4M 0.02% NEW $129.01 +25.4%
276 PRADA SpA - Unspons ADR 119,045.0 $1.4M 0.02% -11K -8.3% $11.50
277 SLB SLB Ltd Energy 34,649.0 $1.3M 0.01% NEW $38.38 +47.3%
278 MIR Mirion Technologies Inc Industrials 56,644.0 $1.3M 0.01% NEW $23.42 -26.3%
279 Globus Medical Inc 15,151.0 $1.3M 0.01% -12K -43.4% $87.31
280 Tokyo Electron Ltd - Unspons A 11,885.0 $1.3M 0.01% NEW $111.10
Page 14 of 18  ·  342 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%