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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 18  ·  342 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
61 DE Deere & Co Industrials 98,137.0 $45.7M 0.53% -6K -5.3% $465.57 +23.3%
62 CFR Cullen/Frost Bankers Inc Financial Services 356,874.0 $45.2M 0.52% -20K -5.4% $126.63 +11.4%
63 JPM JPMorgan Chase & Co Financial Services 137,868.0 $44.4M 0.51% +5K +4.0% $322.22 -3.4%
64 VGT Vanguard Information Technolog 58,121.0 $43.8M 0.50% -2K -2.9% $753.78 -84.5%
65 SPY SPDR S&P 500 ETF Trust Financial Services 64,038.0 $43.7M 0.50% -2K -3.7% $681.92 +8.4%
66 GBCI Glacier Bancorp Inc Financial Services 987,362.0 $43.5M 0.50% -57K -5.5% $44.05 +7.7%
67 Liberty Media Corp-Liberty For 454,863.0 $40.7M 0.47% $89.38
68 GGG Graco Inc Industrials 473,849.0 $38.8M 0.45% -25K -5.1% $81.97 -9.1%
69 EEMA iShares MSCI Emerging Markets 392,640.0 $36.9M 0.42% -4K -1.0% $94.02 +20.3%
70 VEU Vanguard FTSE All-World ex-US 497,130.0 $36.6M 0.42% +34K +7.4% $73.56 +11.2%
71 BLK Blackrock Inc Financial Services 33,693.0 $36.1M 0.41% $1070.34 -7.2%
72 CVRD Madison Covered Call ETF 1,885,000.0 $34.7M 0.40% -320K -14.5% $18.43 +0.6%
73 QCOM QUALCOMM Inc Technology 202,944.0 $34.7M 0.40% +94K +85.7% $171.05 +26.5%
74 TEL TE Connectivity PLC Technology 152,050.0 $34.6M 0.40% -2K -1.3% $227.51 -9.4%
75 JNJ Johnson & Johnson Healthcare 157,184.0 $32.5M 0.37% -46K -22.8% $206.95 +12.2%
76 HD Home Depot Inc Consumer Cyclical 94,398.0 $32.5M 0.37% -1K -1.3% $344.10 -9.9%
77 MSCI MSCI Inc Financial Services 55,494.0 $31.8M 0.37% -15K -21.5% $573.73 +5.0%
78 SBUX Starbucks Corp Consumer Cyclical 367,263.0 $30.9M 0.36% -93K -20.2% $84.21 +13.4%
79 CME CME Group Inc Financial Services 110,567.0 $30.2M 0.35% +5K +4.9% $273.08 -7.8%
80 IJR iShares Core S&P Small-Cap ETF 249,350.0 $30.0M 0.34% +89K +55.6% $120.18 +15.5%
Page 4 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%