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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 18  ·  342 positions
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
101 ASML ASML Holding NV - Spons NY Reg Technology 15,672.0 $16.8M 0.19% +3K +21.0% $1069.86 +63.5%
102 ECL Ecolab Inc Basic Materials 63,218.0 $16.6M 0.19% +5K +8.7% $262.52 -1.9%
103 IEF iShares 7-10 Year Treasury Bon 164,014.0 $15.8M 0.18% -6K -3.4% $96.16 -2.7%
104 AES AES Corp/VA Utilities 1,094,000.0 $15.7M 0.18% $14.34 +2.6%
105 VV Vanguard Large-Cap ETF 49,754.0 $15.7M 0.18% +2K +3.7% $314.80 +8.2%
106 HSY Hershey Co/The Consumer Defensive 85,914.0 $15.6M 0.18% -1K -1.3% $181.98 -3.3%
107 Berkshire Hathaway Inc 30,808.0 $15.5M 0.18% -1K -3.4% $502.65
108 EZU iShares MSCI Eurozone ETF 237,385.0 $15.2M 0.17% -27K -10.4% $64.10 +6.2%
109 ABBV AbbVie Inc Healthcare 65,421.0 $14.9M 0.17% -2K -2.9% $228.49 -2.4%
110 UNP Union Pacific Corp Industrials 64,069.0 $14.8M 0.17% -2K -3.5% $231.32 +16.1%
111 FAST Fastenal Co Industrials 363,279.0 $14.6M 0.17% +115K +46.4% $40.13 +14.6%
112 BAC Bank of America Corp Financial Services 254,087.0 $14.0M 0.16% -10K -3.6% $55.00 -2.5%
113 IGIB iShares 5-10 Year Investment G 245,961.0 $13.3M 0.15% -64K -20.5% $53.88 -2.2%
114 EMLC VanEck J. P. Morgan EM Local C 511,961.0 $13.2M 0.15% NEW $25.82 -2.7%
115 NKE NIKE Inc Consumer Cyclical 207,225.0 $13.2M 0.15% -433K -67.7% $63.71 -32.1%
116 SPTI State Street SPDR Portfolio In 454,171.0 $13.1M 0.15% +3K +0.6% $28.84 -2.3%
117 MCD McDonald's Corp Consumer Cyclical 41,366.0 $12.6M 0.14% +17K +68.2% $305.63 -9.1%
118 RIG Transocean Ltd Energy 3,030,000.0 $12.5M 0.14% $4.13 +49.4%
119 CRM salesforce.com Inc Technology 46,599.0 $12.3M 0.14% NEW $264.91 -31.1%
120 ABT Abbott Laboratories Healthcare 97,681.0 $12.2M 0.14% +14K +16.5% $125.29 -27.8%
Page 6 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%