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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 3 of 18  ·  342 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
41 SCHW Charles Schwab Corp/The Financial Services 761,350.0 $76.1M 0.88% -48K -6.0% $99.91 -11.3%
42 JMBS Janus Henderson Mortgage-Backe 1,532,028.0 $70.0M 0.81% -109K -6.7% $45.69 -2.0%
43 TECH Bio-Techne Corp Healthcare 1,181,308.0 $69.5M 0.80% +437K +58.6% $58.81 -9.7%
44 TJX TJX Cos Inc Consumer Cyclical 449,390.0 $69.0M 0.79% -30K -6.3% $153.61 +4.7%
45 BN Brookfield Corp Financial Services 1,498,571.0 $68.8M 0.79% +378K +33.7% $45.89 -3.2%
46 HON Honeywell International Inc Industrials 350,974.0 $68.5M 0.79% +194K +123.6% $195.09 +9.1%
47 TTAN ServiceTitan Inc Technology 638,075.0 $68.0M 0.78% NEW $106.50 -31.2%
48 ACN Accenture PLC Technology 244,254.0 $65.5M 0.75% -40K -14.1% $268.30 -34.2%
49 LLY Eli Lilly & Co Healthcare 60,914.0 $65.5M 0.75% +2K +3.5% $1074.68 +7.6%
50 MSTI Madison Short-Term Strategic I 2,820,994.0 $57.8M 0.67% -217K -7.2% $20.51 -1.5%
51 LBRDK Liberty Broadband Corp Communication Services 1,181,920.0 $57.4M 0.66% -146K -11.0% $48.60 -37.1%
52 DSTL Distillate US Fundamental Stab 943,332.0 $55.6M 0.64% -147K -13.5% $58.90 +1.6%
53 NEE NextEra Energy Inc Utilities 686,878.0 $55.1M 0.63% $80.28 +5.9%
54 MRSH Marsh & McLennan Cos Inc Financial Services 290,337.0 $53.9M 0.62% -29K -9.2% $185.52 -12.7%
55 KNSL Kinsale Capital Group Inc Financial Services 137,362.0 $53.7M 0.62% -19K -12.0% $391.12 -22.6%
56 MAGG Madison Aggregate Bond ETF 2,606,897.0 $53.5M 0.61% -55K -2.1% $20.51 -1.6%
57 DIVL Madison Dividend Value ETF 2,328,892.0 $53.4M 0.61% -39K -1.7% $22.91 +7.1%
58 AAPL Apple Inc Technology 195,520.0 $53.2M 0.61% $271.86 +15.3%
59 MDY SPDR S&P MidCap 400 ETF Trust Financial Services 83,341.0 $50.3M 0.58% +59K +246.4% $603.28 +12.5%
60 ABNB Airbnb Inc Consumer Cyclical 362,323.0 $49.2M 0.56% -39K -9.8% $135.72 -0.7%
Page 3 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%