Q2 2026 13F · SEC CIK 1299351

Madison Asset Management, LLC

Mutual fund managerFiled 2026-08-10 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $8.4B
Reported positions: 347
Top holdings a year, 3 yrs: +11.1%
Assets under management: $4.9B

Madison Asset Management, LLC is a mutual fund manager that reported 347 positions worth $8.4B in its Q2 2026 13F, filed 2026-08-10. Its largest holdings were Arch Capital Group Ltd (ACGL, 4.4%), Alphabet Inc (GOOG, 2.6%), Amphenol Corp (APH, 2.5%). A portfolio copying its top holdings returned 11.1% a year over the last 3 years, against 20.4% for the S&P 500.

Madison Asset Management, LLC holdings largest 50 of 347 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Madison Asset Management, LLC 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
ACGLArch Capital Group Ltd	4.4%	4.9%	3,799,789	-6.8%	$368.8M
GOOGAlphabet Inc	2.6%	2.2%	610,192	-3.1%	$215.6M
APHAmphenol Corp	2.5%	2.0%	1,176,112	-6.0%	$207.4M
ROSTRoss Stores Inc.	2.3%	3.8%	886,641	-37.2%	$188.7M
PCARPaccar Inc	2.1%	2.3%	1,478,618	-6.7%	$177.6M
TXNTexas Instruments Inc	2.0%	1.5%	575,695	-5.4%	$171.6M
AMZNAmazon Com Inc Com	1.9%	1.7%	656,264	-1.6%	$156.4M
CSLCarlisle Cos Inc	1.8%	1.9%	421,406	-7.1%	$152.9M
CDWCdw Corp	1.8%	1.7%	1,070,495	-3.1%	$150.6M
MKSIMks Inc.	1.7%	1.0%	316,694	-6.4%	$140.9M
KEYSKeysight Technologies Inc Com	1.7%	1.5%	398,124	-5.9%	$139.4M
BROBrown & Brown Inc	1.7%	1.9%	2,161,022	-6.4%	$138.6M
LHLabcorp Holdings Inc	1.6%	1.6%	476,643	-2.8%	$133.5M
VVisa Inc Com Cl A	1.6%	1.5%	382,662	-1.8%	$131.3M
MEDPMedpace Hldgs Inc	1.5%	1.6%	243,502	-7.2%	$129.0M
ADIAnalog Devices Inc	1.5%	1.3%	313,234	-7.2%	$124.4M
TDYTeledyne Technologies Inc	1.5%	1.5%	183,824	-7.4%	$122.6M
MSAMsa Safety Inc	1.4%	1.2%	660,573	+12.2%	$115.3M
CPRTCopart Inc	1.3%	1.6%	4,013,460	+3.2%	$113.1M
MCMoelis & Co	1.3%	1.3%	1,667,157	-6.0%	$109.1M
WRBW. R. Berkley Corp.	1.3%	1.3%	1,497,784	-7.5%	$105.6M
WATWaters Corp.	1.3%	1.0%	279,856	+2.6%	$105.0M
AOSSmith A O Corp	1.1%	0.9%	1,466,922	+28.4%	$92.0M
FWONKLiberty Media Corp Del	1.1%	1.1%	964,340	-9.9%	$91.7M
PHParker-Hannifin Corp	1.0%	1.0%	88,312	-5.1%	$86.4M
DHRDanaher Corporation	1.0%	1.2%	448,611	-9.4%	$85.5M
FERGFerguson Enterprises Inc	1.0%	1.1%	355,611	-4.7%	$84.4M
SPHQInvesco Exchange Traded Fd T	1.0%	1.2%	936,702	-27.0%	$84.4M
AAgilent Technologies Inc	1.0%	0.9%	631,763	+3.9%	$83.9M
MSFTMicrosoft Corp	1.0%	1.0%	217,910	+0.9%	$81.3M
FNDFloor & Decor Hldgs Inc	0.9%	0.9%	1,329,870	-2.9%	$78.9M
SCHWSchwab Charles Corp	0.9%	0.8%	847,868	+17.5%	$78.2M
TECHBio-Techne Corp	0.9%	0.7%	1,063,473	-2.7%	$75.1M
ITGartner Inc	0.9%	1.2%	574,609	-6.3%	$74.5M
PGRProgressive Corp.	0.9%	0.9%	338,343	-3.3%	$73.9M
EXPDExpeditors International of Wa	0.9%	0.9%	448,305	-8.6%	$73.1M
VRSKVerisk Analytics Inc	0.9%	—	398,522	—	$71.5M
BAMBrookfield Asset Management	0.8%	0.9%	1,570,419	-6.2%	$70.4M
LOWLowes Cos Inc	0.8%	1.0%	315,223	-4.5%	$69.5M
LADLithia Mtrs Inc	0.8%	0.7%	230,604	-0.9%	$67.0M
LLYLilly Eli & Co	0.8%	—	55,520	—	$66.6M
THOThor Inds Inc	0.8%	1.0%	881,017	-8.7%	$66.2M
TJXTjx Cos Inc New Com	0.8%	0.9%	429,842	-0.8%	$65.1M
NEENextera Energy Inc Com	0.8%	0.8%	724,014	+5.8%	$63.5M
VEUVanguard FTSE All	0.8%	0.7%	758,447	+2.8%	$63.5M
CFRCullen Frost Bankers Inc	0.7%	—	403,055	—	$62.3M
ABGAsbury Automotive Group Inc	0.7%	0.7%	301,332	-2.4%	$60.6M
GBCIGlacier Bancorp Inc New	0.7%	—	1,144,784	—	$59.0M
AAPLApple Inc	0.7%	—	200,934	—	$58.1M
MRSHMarsh	0.7%	0.8%	342,975	-3.6%	$57.2M

What Madison Asset Management, LLC bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Added to

Reduced

ROST Ross Stores Inc.-37.2% shares
SPHQ Invesco Exchange Traded Fd T-27.0% shares
FWONK Liberty Media Corp Del-9.9% shares
DHR Danaher Corporation-9.4% shares
THO Thor Inds Inc-8.7% shares
EXPD Expeditors International of Wa-8.6% shares
WRB W. R. Berkley Corp.-7.5% shares
TDY Teledyne Technologies Inc-7.4% shares

Left the top 50

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +17.0% /yr; S&P 500 +20.1%
3 years: +11.1% /yr; S&P 500 +20.4%
5 years: +9.2% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$8.4B	347
Q1 2026	$8.1B	349
Q4 2025	$8.7B	341
Q3 2025	$9.1B	336
Q2 2025	$9.3B	338
Q1 2025	$9.0B	349
Q4 2024	$8.9B	335
Q3 2024	$8.9B	328
Q2 2024	$8.1B	326
Q1 2024	$8.1B	330
Q4 2023	$7.4B	321
Q3 2023	$6.8B	321

Questions about Madison Asset Management, LLC's portfolio

What stocks does Madison Asset Management, LLC own?

Madison Asset Management, LLC's latest 13F, for Q2 2026 and filed Aug 10, 2026, lists 347 positions worth $8.4B. The largest are Arch Capital Group Ltd (ACGL) at 4.4%, Alphabet Inc (GOOG) at 2.6%, Amphenol Corp (APH) at 2.5%, Ross Stores Inc. (ROST) at 2.3% and Paccar Inc (PCAR) at 2.1%.

What did Madison Asset Management, LLC buy last quarter?

In Q2 2026, Madison Asset Management, LLC added Smith A O Corp (AOS) (+28.4% shares), Schwab Charles Corp (SCHW) (+17.5% shares) and Msa Safety Inc (MSA) (+12.2% shares), compared with its Q1 2026 filing.

What did Madison Asset Management, LLC sell last quarter?

In Q2 2026, Madison Asset Management, LLC cut from its top 50 Arista Networks Inc (ANET), cut from its top 50 Honeywell Intl Inc (HON), cut from its top 50 Liberty Broadband Corp (LBRDK), cut from its top 50 ServiceTitan, Inc. (TTAN), cut from its top 50 Brookfield Corp (BN), Ross Stores Inc. (ROST) (-37.2% shares), Invesco Exchange Traded Fd T (SPHQ) (-27.0% shares) and Liberty Media Corp Del (FWONK) (-9.9% shares), compared with its Q1 2026 filing.

How has Madison Asset Management, LLC's portfolio performed?

A portfolio copying Madison Asset Management, LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +11.1% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +17.0% against +20.1%. Over 5 years: +9.2% a year against +11.6%.

When is Madison Asset Management, LLC's next 13F filing due?

13F filings are due 45 days after each quarter ends. Madison Asset Management, LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Madison Asset Management, LLC manage?

Madison Asset Management, LLC reported $4.9B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $8.4B.