Madison Asset Management, LLC — 13F Holdings & Portfolio

CIK 1299351 · latest 13F-HR filed 2026-08-10

Madison Asset Management, LLC manages $8.39B in 13F-reported U.S. long-equity assets across 347 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are ACGL (4.40%), GOOG (2.57%), APH (2.47%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 20 new positions and exited 22; 174 existing positions rose in reported value and 83 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

AUM

$8.39B

Long-equity book

Holdings

347

Distinct positions

Period

2026-06-30

Filed 2026-08-10

Q/Q Activity

+20 / −22 / ↑174 / ↓83

vs 2026-03-31

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q2 26

ACGL4.4% · -7%GOOG2.6% · -3%APH2.5% · -6%ROST2.2% · -37%PCAR2.1% · -7%TXN2.0% · -5%AMZN1.9% · -2%CSL1.8% · -7%CDW1.8% · -3%MKSI1.7% · -6%KEYS1.7% · -6%BRO1.7% · -6%LH1.6% · -3%V1.6% · -2%MEDP1.5% · -7%ADI1.5% · -7%TDY1.5% · -7%MSA1.4% · +12%CPRT1.3% · +3%MC1.3% · -6%WRB1.3% · -8%WAT1.3% · +3%AOS1.1% · +28%FWONK1.1% · -10%PH1.0% · -5%DHR1.0% · -9%FERG1.0% · -5%SPHQ1.0% · -27%A1.0% · +4%MSFT1.0% · +1%FND0.9% · -3%SCHW0.9% · +18%TECH0.9% · -3%IT0.9% · -6%PGR0.9% · -3%EXPD0.9% · -9%VRSK0.9% · new BAM0.8% · -6%LOW0.8% · -4%LAD0.8% · -1%LLY0.8% · +3%THO0.8% · -9%TJX0.8% · -1%NEE0.8% · +6%VEU0.8% · +3%CFR0.7% · +20%ABG0.7% · -2%GBCI0.7% · +23%AAPL0.7% · -0%MRSH0.7% · -4%TTAN0.7% · -12%BN0.7% · -5%MAGG0.6% · -3%DIVL0.6% · +1%JMBS0.6% · -7%HONA0.6% · new JPM0.6% · +4%GGG0.6% · +39%VFLO0.5% · +111%META0.5% · -10%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q1 26 → Q2 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

3 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 23%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

Assets Under Management

$13.84B

Discretionary

$13.84B

Employees

Accounts

16,164

Address

550 SCIENCE DRIVE
MADISON, WI 53711

Phone

(608) 274-0300

Website

www.linkedin.com/company/madison-investment-advisors
madisoninvestments.com

Name	Title / Status	Ownership	Type
CARL, STEVEN, ALLAN Control	CHIEF DISTRIBUTION OFFICER, CHAIRMAN OF THE EXECUTIVE COMMITTEE	Less than 5%	Individual
EISINGER, RICHARD, ALLEN Control	HEAD OF EQUITIES, PORTFOLIO MANAGER	Less than 5%	Individual
FREDRICKS, STEVEN, JOSEPH Control	CHIEF COMPLIANCE OFFICER AND CHIEF LEGAL OFFICER	Less than 5%	Individual
FRIEDOW, JILL, MANTERNACH Control	HEAD OF OPERATIONS AND CHIEF TECHNOLOGY OFFICER	Less than 5%	Individual
HENRICKSON, MARK, DANA Control	CHIEF FINANCIAL OFFICER	Less than 5%	Individual
MADISON ASSET MANAGEMENT, LLC Control	IMMEDIATE CORPORATE PARENT	75% or more	Domestic Entity
MADISON INVESTMENT HOLDINGS, INC Control	HOLDING COMPANY	75% or more	Domestic Entity
RYAN, PATRICK, F Control	HEAD OF MULTI-ASSET SOLUTIONS, PORTFOLIO MANAGER	Less than 5%	Individual
SANDERS, MICHAEL, SCOTT Control	HEAD OF FIXED INCOME, PORTFOLIO MANAGER	Less than 5%	Individual
TOYAMA, HARUKI Control	HEAD OF MID CAP & LARGE CAP EQUITY, PORTFOLIO MANAGER	Less than 5%	Individual

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Top Adds (vs prior quarter)

MKS Inc$63.1M +81.2%
Texas Instruments Inc$53.5M +45.3%
Amphenol Corp$49.3M +31.2%
Alphabet Inc$35.0M +19.4%
VictoryShares Free Cash Flow E$27.1M +144.0%

Show all 174 →

Top Trims

Ross Stores Inc-$117.4M -38.3%
Arista Networks Inc-$53.7M -63.9%
Gartner Inc-$22.6M -23.3%
Arch Capital Group Ltd-$22.5M -5.7%
iShares MSCI Emerging Markets-$19.4M -55.1%

Show all 83 →

New Positions

Show all 20 →

Exited Positions

Show all 22 →

Loading…

#	Issuer	Symbol	CUSIP	Value	Δ

Madison Asset Management, LLC Holdings (2026-06-30)

#	Issuer	Symbol	CUSIP	Value	Weight	Shares	Type
1	Arch Capital Group Ltd	ACGL	G0450A105	$368.8M	4.40%	3,799,789	SH
2	Alphabet Inc	GOOG	02079K107	$215.6M	2.57%	610,192	SH
3	Amphenol Corp	APH	032095101	$207.4M	2.47%	1,176,112	SH
4	Ross Stores Inc	ROST	778296103	$188.7M	2.25%	886,641	SH
5	PACCAR Inc	PCAR	693718108	$177.6M	2.12%	1,478,618	SH
6	Texas Instruments Inc	TXN	882508104	$171.6M	2.05%	575,695	SH
7	Amazon.com Inc	AMZN	023135106	$156.4M	1.86%	656,264	SH
8	Carlisle Cos Inc	CSL	142339100	$152.9M	1.82%	421,406	SH
9	CDW Corp/DE	CDW	12514G108	$150.6M	1.80%	1,070,495	SH
10	MKS Inc	MKSI	55306N104	$140.9M	1.68%	316,694	SH
11	Keysight Technologies Inc	KEYS	49338L103	$139.4M	1.66%	398,124	SH
12	Brown & Brown Inc	BRO	115236101	$138.6M	1.65%	2,161,022	SH
13	Labcorp Holdings Inc	LH	504922105	$133.5M	1.59%	476,643	SH
14	Visa Inc	V	92826C839	$131.3M	1.57%	382,662	SH
15	Medpace Holdings Inc	MEDP	58506Q109	$129.0M	1.54%	243,502	SH
16	Analog Devices Inc	ADI	032654105	$124.4M	1.48%	313,234	SH
17	Teledyne Technologies Inc	TDY	879360105	$122.6M	1.46%	183,824	SH
18	MSA Safety Inc	MSA	553498106	$115.3M	1.37%	660,573	SH
19	Copart Inc	CPRT	217204106	$113.1M	1.35%	4,013,460	SH
20	Moelis & Co	MC	60786M105	$109.1M	1.30%	1,667,157	SH
21	WR Berkley Corp	WRB	084423102	$105.6M	1.26%	1,497,784	SH
22	Waters Corp	WAT	941848103	$105.0M	1.25%	279,856	SH
23	A O Smith Corp	AOS	831865209	$92.0M	1.10%	1,466,922	SH
24	Liberty Media Corp-Liberty For	FWONK	531229755	$91.7M	1.09%	964,340	SH
25	Parker-Hannifin Corp	PH	701094104	$86.4M	1.03%	88,312	SH
26	Danaher Corp	DHR	235851102	$85.5M	1.02%	448,611	SH
27	Ferguson Enterprises Inc	FERG	31488V107	$84.4M	1.01%	355,611	SH
28	Invesco S&P 500 Quality ETF	SPHQ	46137V241	$84.4M	1.01%	936,702	SH
29	Agilent Technologies Inc	A	00846U101	$83.9M	1.00%	631,763	SH
30	Microsoft Corp	MSFT	594918104	$81.3M	0.97%	217,910	SH
31	Floor & Decor Holdings Inc	FND	339750101	$78.9M	0.94%	1,329,870	SH
32	Charles Schwab Corp/The	SCHW	808513105	$78.2M	0.93%	847,868	SH
33	Bio-Techne Corp	TECH	09073M104	$75.1M	0.90%	1,063,473	SH
34	Gartner Inc	IT	366651107	$74.5M	0.89%	574,609	SH
35	Progressive Corp	PGR	743315103	$73.9M	0.88%	338,343	SH
36	Expeditors International of Wa	EXPD	302130109	$73.1M	0.87%	448,305	SH
37	Verisk Analytics Inc	VRSK	92345Y106	$71.5M	0.85%	398,522	SH
38	Brookfield Asset Management Lt	BAM	113004105	$70.4M	0.84%	1,570,419	SH
39	Lowe's Cos Inc	LOW	548661107	$69.5M	0.83%	315,223	SH
40	Lithia Motors Inc	LAD	536797103	$67.0M	0.80%	230,604	SH
41	Eli Lilly & Co	LLY	532457108	$66.6M	0.79%	55,520	SH
42	Thor Industries Inc	THO	885160101	$66.2M	0.79%	881,017	SH
43	TJX Cos Inc	TJX	872540109	$65.1M	0.78%	429,842	SH
44	NextEra Energy Inc	NEE	65339F101	$63.5M	0.76%	724,014	SH
45	Vanguard FTSE All-World ex-US	VEU	922042775	$63.5M	0.76%	758,447	SH
46	Cullen/Frost Bankers Inc	CFR	229899109	$62.3M	0.74%	403,055	SH
47	Asbury Automotive Group Inc	ABG	043436104	$60.6M	0.72%	301,332	SH
48	Glacier Bancorp Inc	GBCI	37637Q105	$59.0M	0.70%	1,144,784	SH
49	Apple Inc	AAPL	037833100	$58.1M	0.69%	200,934	SH
50	Marsh & McLennan Cos Inc	MRSH	571748102	$57.2M	0.68%	342,975	SH