Madison Asset Management, LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 10, 2026), Madison Asset Management, LLC reported 347 stock positions worth $8.4 billion. Its top holding was Arch Capital (ACGL) at 4.4% of the portfolio, followed by Alphabet Class C (GOOG, 2.6%) and Amphenol Class A (APH, 2.5%). Compared with Q1 2026, it opened 17 new positions, sold out of 20, added to 129 and reduced 165. The biggest buy was a new position in Verisk Analytics (VRSK) and the biggest sale Ross Stores (ROST, shares −37%).
- Most Recent 13F
- Q2 2026
- Location
- MADISON, WI
- CIK
- 0001299351
- Portfolio Value
- $8.4B (Q2 2026)
- SEC Filing
- 0001954889-26-000022 ↗ filed Aug 10, 2026
Holdings Value
Holdings 347 stocks · $8.4B
| ACGL Arch Capital Group Ltd. | 4.40% | 3,799,789 | $368.8M | Reduce -6.8% |
| GOOG Alphabet Inc. Class C | 2.57% | 610,192 | $215.6M | Reduce -3.1% |
| APH Amphenol Corp. Class A | 2.47% | 1,176,112 | $207.4M | Reduce -6.0% |
| ROST Ross Stores Inc. | 2.25% | 886,641 | $188.7M | Reduce -37.3% |
| PCAR Paccar Inc. | 2.12% | 1,478,618 | $177.6M | Reduce -6.7% |
| TXN Texas Instruments Inc. | 2.05% | 575,695 | $171.6M | Reduce -5.4% |
| AMZN Amazon.com Inc. | 1.86% | 656,264 | $156.4M | Reduce -1.6% |
| CSL Carlisle Cos Inc. | 1.82% | 421,406 | $152.9M | Reduce -7.1% |
| CDW CDW Corp. | 1.80% | 1,070,495 | $150.6M | Reduce -3.1% |
| MKSI MKS Inc. | 1.68% | 316,694 | $140.9M | Reduce -6.4% |
| KEYS Keysight Technologies Inc. | 1.66% | 398,124 | $139.4M | Reduce -5.9% |
| BRO Brown & Brown Inc. | 1.65% | 2,161,022 | $138.6M | Reduce -6.3% |
| LH Labcorp Holdings Inc. | 1.59% | 476,643 | $133.5M | Reduce -2.8% |
| V Visa Inc. Class A | 1.57% | 382,662 | $131.3M | Reduce -1.9% |
| MEDP Medpace Holdings Inc. | 1.54% | 243,502 | $129.0M | Reduce -7.2% |
| ADI Analog Devices Inc. | 1.48% | 313,234 | $124.4M | Reduce -7.2% |
| TDY Teledyne Technologies Inc. | 1.46% | 183,824 | $122.6M | Reduce -7.4% |
| MSA Msa Safety Inc. | 1.38% | 660,573 | $115.3M | Add +12.2% |
| CPRT Copart Inc. | 1.35% | 4,013,460 | $113.1M | Add +3.2% |
| MC Moelis & Co. Class A | 1.30% | 1,667,157 | $109.1M | Reduce -6.0% |
| WRB WR Berkley Corp. filed as BERKLEY W R CORP | 1.26% | 1,497,784 | $105.6M | Reduce -7.5% |
| WAT Waters Corp. | 1.25% | 279,856 | $105.0M | Add +2.6% |
| AOS Smith (a.o.) Corp. | 1.10% | 1,466,922 | $92.0M | Add +28.4% |
| FWONK Liberty Media Corp. Class C | 1.09% | 964,340 | $91.7M | Reduce -9.9% |
| PH Parker Hannifin Corp. | 1.03% | 88,312 | $86.4M | Reduce -5.1% |
| DHR Danaher Corp. | 1.02% | 448,611 | $85.5M | Reduce -9.4% |
| FERG Ferguson Enterprises Inc. | 1.01% | 355,611 | $84.4M | Reduce -4.7% |
| SPHQ Invesco S&P 500 Quality ETF | 1.01% | 936,702 | $84.4M | Reduce -27.0% |
| A Agilent Technologies Inc. | 1.00% | 631,763 | $83.9M | Add +3.9% |
| MSFT Microsoft Corp. | 0.97% | 217,910 | $81.3M | Add +0.9% |
| FND Floor & Decor Holdings Inc. Class A | 0.94% | 1,329,870 | $78.9M | Reduce -2.9% |
| SCHW Schwab (charles) Corp. | 0.93% | 847,868 | $78.2M | Add +17.5% |
| TECH Bio-Techne Corp. | 0.90% | 1,063,473 | $75.1M | Reduce -2.7% |
| IT Gartner Inc. | 0.89% | 574,609 | $74.5M | Reduce -6.3% |
| PGR Progressive Corp. | 0.88% | 338,343 | $73.9M | Reduce -3.3% |
| EXPD Expeditors Intl Wash Inc. | 0.87% | 448,305 | $73.1M | Reduce -8.6% |
| VRSK Verisk Analytics Inc. | 0.85% | 398,522 | $71.5M | New |
| BAM Brookfield Asset Mgmt-A | 0.84% | 1,570,419 | $70.4M | Reduce -6.3% |
| LOW Lowe's Cos Inc. | 0.83% | 315,223 | $69.5M | Reduce -4.5% |
| LAD Lithia Motors Inc. | 0.80% | 230,604 | $67.0M | Reduce -0.9% |
| LLY Eli Lilly & Co. | 0.79% | 55,520 | $66.6M | Add +2.6% |
| THO Thor Industries Inc. | 0.79% | 881,017 | $66.2M | Reduce -8.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.78% | 429,842 | $65.1M | Reduce -0.8% |
| NEE Nextera Energy Inc. | 0.76% | 724,014 | $63.5M | Add +5.8% |
| VEU Vanguard Ftse All-World Ex-U | 0.76% | 758,447 | $63.5M | Add +2.8% |
| CFR Cullen/Frost Bankers Inc. | 0.74% | 403,055 | $62.3M | Add +20.1% |
| ABG Asbury Automotive Group | 0.72% | 301,332 | $60.6M | Reduce -2.4% |
| GBCI Glacier Bancorp Inc. | 0.70% | 1,144,784 | $59.0M | Add +23.0% |
| AAPL Apple Inc. | 0.69% | 200,934 | $58.1M | Reduce -0.1% |
| MRSH Marsh & McLennan Cos | 0.68% | 342,975 | $57.2M | Reduce -3.6% |
| TTAN Servicetitan Inc. Class A | 0.67% | 793,636 | $56.1M | Reduce -11.8% |
| BN Brookfield Corp. | 0.66% | 1,306,755 | $55.7M | Reduce -4.6% |
| MAGG Madison Aggregate Bond ETF | 0.64% | 2,634,812 | $53.3M | Reduce -3.3% |
| DIVL Madison Dividend Value ETF | 0.63% | 2,163,006 | $52.5M | Add +0.7% |
| JMBS Janus Henderson Mortg Backed | 0.59% | 1,106,482 | $49.8M | Reduce -7.0% |
| HONA Honeywell Aerospace Inc. | 0.59% | 224,998 | $49.7M | Add +46.6% |
| JPM JPMorgan Chase & Co. | 0.57% | 147,323 | $48.2M | Add +3.6% |
| GGG Graco Inc. | 0.56% | 620,162 | $46.9M | Add +39.0% |
| VFLO Victoryshares Free Cash Flow | 0.55% | 1,003,856 | $45.9M | Add +110.6% |
| META Meta Platforms Inc. Class A | 0.54% | 80,663 | $45.4M | Reduce -9.6% |
| ABNB Airbnb Inc. Class A | 0.54% | 316,309 | $45.3M | Reduce -5.0% |
| MSTI Madison SHRT TRM STR Inc. ETF | 0.53% | 2,211,990 | $44.8M | Reduce -11.9% |
| AVGO Broadcom Inc. | 0.53% | 117,956 | $44.6M | Add +11.7% |
| HON Honeywell International Inc. | 0.53% | 198,913 | $44.5M | Add +29.6% |
| VGT Vanguard Info Tech ETF | 0.50% | 349,907 | $41.8M | Reduce -12.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.49% | 55,098 | $41.1M | Reduce -19.7% |
| KNSL Kinsale Capital Group Inc. | 0.49% | 123,779 | $40.8M | Reduce -9.5% |
| BSY Bentley Systems Inc. Class B | 0.49% | 1,365,230 | $40.8M | Add +39.1% |
| TYL Tyler Technologies Inc. | 0.48% | 138,684 | $40.6M | Reduce -13.5% |
| ICE Intercontinental Exchange Inc. | 0.47% | 323,573 | $39.8M | New |
| FWONA Liberty Media Corp. Class A | 0.47% | 454,871 | $39.8M | Add +0.0% |
| MSCI MSCI Inc. | 0.47% | 70,420 | $39.4M | Add +9.6% |
| DE Deere & Co. | 0.46% | 60,985 | $38.7M | Reduce -5.5% |
| IJR iShares Core S&P Small-Cap E | 0.44% | 246,133 | $36.5M | Reduce -5.5% |
| JNJ Johnson & Johnson | 0.41% | 136,792 | $34.7M | Reduce -3.4% |
| DSTL Distillate US Fundamental St | 0.38% | 538,471 | $32.3M | Reduce -34.0% |
| HD Home Depot Inc. | 0.38% | 89,709 | $31.6M | Reduce -1.8% |
| COST Costco Wholesale Corp. | 0.37% | 33,457 | $31.3M | Add +1.3% |
| IGIB iShares 5-10Y Inv Grade Corp. | 0.37% | 584,799 | $31.1M | Add +45.9% |
| CVRD Madison Covered Call ETF | 0.37% | 1,755,000 | $30.8M | Reduce -2.8% |
| QCOM Qualcomm Inc. | 0.37% | 166,795 | $30.8M | Reduce -10.6% |
| JIRE JPMorgan Int Res Enh Eqty | 0.37% | 371,195 | $30.6M | Add +10.7% |
| ANET Arista Networks Inc. | 0.36% | 178,606 | $30.3M | Reduce -73.9% |
| IJH iShares Core S&P Midcap ETF | 0.35% | 383,925 | $29.6M | Add +24.2% |
| IUSG iShares Core S&P U.S. Growth | 0.34% | 151,348 | $28.5M | Add +24.8% |
| XOM Exxonmobil Holdings Corp. | 0.34% | 207,414 | $28.4M | Reduce -2.3% |
| TEL Te Connectivity PLC | 0.33% | 136,176 | $27.5M | Reduce -0.8% |
| BLK BlackRock Inc. | 0.32% | 28,220 | $27.1M | Reduce -2.4% |
| LIN Linde PLC | 0.32% | 51,703 | $26.8M | Add +2.5% |
| CVX Chevron Corp. | 0.31% | 158,990 | $26.4M | Reduce -1.9% |
| EMLC Vaneck JPM Em Local Curr BND | 0.31% | 1,025,001 | $26.2M | Reduce -0.5% |
| SPHY SS SPDR P High Yield ETF | 0.31% | 1,107,255 | $26.0M | Add +3.3% |
| AVEM Avantis Emerging Markets Eq | 0.31% | 266,533 | $25.7M | Add +645.0% |
| CL Colgate-Palmolive Co. | 0.30% | 273,802 | $25.1M | Add +9.9% |
| MDY State Street SPDR S&P Midcap | 0.30% | 35,518 | $25.0M | Reduce -40.0% |
| AGG iShares Core U.S. Aggregate | 0.30% | 252,075 | $25.0M | Reduce -0.7% |
| ITW Illinois Tool Works | 0.26% | 79,669 | $21.5M | Add +9.9% |
| CME Cme Group Inc. | 0.25% | 93,141 | $20.6M | Add +8.8% |
| PEP Pepsico Inc. | 0.24% | 151,539 | $20.5M | Reduce -17.9% |
| ABBV Abbvie Inc. | 0.24% | 79,651 | $20.0M | Add +31.9% |
Portfolio Sells Q1 2026 → Q2 2026
| ROST Ross Stores Inc. | Reduce -37.3% | 2.25% | −1.55 |
| LBRDK Liberty Broadband-C | Sold out | 0.00% | −0.74 |
| ANET Arista Networks Inc. | Reduce -73.9% | 0.36% | −0.68 |
| ACGL Arch Capital Group Ltd. | Reduce -6.8% | 4.40% | −0.46 |
| IT Gartner Inc. | Reduce -6.3% | 0.89% | −0.32 |
| EEMA iShares MSCI Emerg MRKT Asia | Reduce -63.3% | 0.19% | −0.25 |
| BRO Brown & Brown Inc. | Reduce -6.3% | 1.65% | −0.21 |
| DSTL Distillate US Fundamental St | Reduce -34.0% | 0.38% | −0.20 |
| TYL Tyler Technologies Inc. | Reduce -13.5% | 0.48% | −0.20 |
| SPHQ Invesco S&P 500 Quality ETF | Reduce -27.0% | 1.01% | −0.19 |
| THO Thor Industries Inc. | Reduce -8.7% | 0.79% | −0.17 |
| ACN Accenture PLC Class A | Reduce -58.1% | 0.05% | −0.16 |
| EFX Equifax Inc. | Sold out | 0.00% | −0.16 |
| MDY State Street SPDR S&P Midcap | Reduce -40.0% | 0.30% | −0.16 |
| COP Conocophillips | Reduce -27.2% | 0.19% | −0.15 |
| PCAR Paccar Inc. | Reduce -6.7% | 2.12% | −0.15 |
| DHR Danaher Corp. | Reduce -9.4% | 1.02% | −0.15 |
| LOW Lowe's Cos Inc. | Reduce -4.5% | 0.83% | −0.14 |
| INTU Intuit Inc. | Sold out | 0.00% | −0.14 |
| KBE SS SPDR S&P Bank ETF | Reduce -53.0% | 0.13% | −0.12 |
| MCHP Microchip Technology Inc. | Sold out | 0.00% | −0.12 |
| PEP Pepsico Inc. | Reduce -17.9% | 0.24% | −0.11 |
| XOM Exxonmobil Holdings Corp. | Reduce -2.3% | 0.34% | −0.11 |
| ARMP Armata Pharmaceuticals Inc. | Reduce -0.0% | 0.16% | −0.10 |
| CVX Chevron Corp. | Reduce -1.9% | 0.31% | −0.10 |
| MSTI Madison SHRT TRM STR Inc. ETF | Reduce -11.9% | 0.53% | −0.10 |
| ABT Abbott Laboratories | Reduce -92.7% | 0.01% | −0.10 |
| KNSL Kinsale Capital Group Inc. | Reduce -9.5% | 0.49% | −0.09 |
| META Meta Platforms Inc. Class A | Reduce -9.6% | 0.54% | −0.09 |
| MRSH Marsh & McLennan Cos | Reduce -3.6% | 0.68% | −0.08 |
| BAM Brookfield Asset Mgmt-A | Reduce -6.3% | 0.84% | −0.08 |
| TJX TJX Companies Inc. | Reduce -0.8% | 0.78% | −0.08 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -82.3% | 0.02% | −0.07 |
| FERG Ferguson Enterprises Inc. | Reduce -4.7% | 1.01% | −0.07 |
| JMBS Janus Henderson Mortg Backed | Reduce -7.0% | 0.59% | −0.07 |
| CRM Salesforce Inc. | Reduce -17.4% | 0.14% | −0.07 |
| WRB WR Berkley Corp. | Reduce -7.5% | 1.26% | −0.07 |
| EZU iShares MSCI Eurozone ETF | Sold out | 0.00% | −0.06 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -19.7% | 0.49% | −0.06 |
| SCHR Schwab Intermediate-Term US | Reduce -20.1% | 0.18% | −0.06 |
| ALC Alcon Inc. | Reduce -6.6% | 0.22% | −0.06 |
| CSL Carlisle Cos Inc. | Reduce -7.1% | 1.82% | −0.06 |
| OPCH Option Care Health Inc. | Sold out | 0.00% | −0.05 |
| CVS CVS Health Corp. | Reduce -61.7% | 0.06% | −0.05 |
| MAGG Madison Aggregate Bond ETF | Reduce -3.3% | 0.64% | −0.05 |
| FLJP Franklin Ftse Japan ETF | Reduce -54.3% | 0.05% | −0.05 |
| CMI Cummins Inc. | Reduce -78.6% | 0.02% | −0.05 |
| BABA Alibaba Group Holding-SP ADR | Sold out | 0.00% | −0.05 |
| MDT Medtronic PLC | Reduce -2.6% | 0.22% | −0.04 |
| VGK Vanguard Ftse Europe ETF | Reduce -28.6% | 0.11% | −0.04 |
Portfolio Buys Q1 2026 → Q2 2026
| VRSK Verisk Analytics Inc. | New | 0.85% | +0.85 |
| ICE Intercontinental Exchange Inc. | New | 0.47% | +0.47 |
| VFLO Victoryshares Free Cash Flow | Add +110.6% | 0.55% | +0.31 |
| AVEM Avantis Emerging Markets Eq | Add +645.0% | 0.31% | +0.27 |
| WAT Waters Corp. | Add +2.6% | 1.25% | +0.24 |
| AJG Arthur J Gallagher & Co. | New | 0.20% | +0.20 |
| GBCI Glacier Bancorp Inc. | Add +23.0% | 0.70% | +0.19 |
| MSA Msa Safety Inc. | Add +12.2% | 1.38% | +0.18 |
| LLY Eli Lilly & Co. | Add +2.6% | 0.79% | +0.18 |
| HONA Honeywell Aerospace Inc. | Add +46.6% | 0.59% | +0.17 |
| CFR Cullen/Frost Bankers Inc. | Add +20.1% | 0.74% | +0.17 |
| AOS Smith (a.o.) Corp. | Add +28.4% | 1.10% | +0.16 |
| A Agilent Technologies Inc. | Add +3.9% | 1.00% | +0.14 |
| AVGO Broadcom Inc. | Add +11.7% | 0.53% | +0.13 |
| WST West Pharmaceutical Services | New | 0.12% | +0.12 |
| IUSG iShares Core S&P U.S. Growth | Add +24.8% | 0.34% | +0.11 |
| IGIB iShares 5-10Y Inv Grade Corp. | Add +45.9% | 0.37% | +0.11 |
| XLV SS Health Care Select Sector | New | 0.10% | +0.10 |
| IJH iShares Core S&P Midcap ETF | Add +24.2% | 0.35% | +0.09 |
| SCHW Schwab (charles) Corp. | Add +17.5% | 0.93% | +0.09 |
| GGG Graco Inc. | Add +39.0% | 0.56% | +0.09 |
| SPMD SS SPDR P S&P 400 Midcap ETF | Add +192.6% | 0.12% | +0.08 |
| ABBV Abbvie Inc. | Add +31.9% | 0.24% | +0.08 |
| ASML ASML Holding NV-NY Reg SHS | Add +1.4% | 0.23% | +0.07 |
| UNH Unitedhealth Group Inc. | Add +2.0% | 0.21% | +0.07 |
| VEU Vanguard Ftse All-World Ex-U | Add +2.8% | 0.76% | +0.07 |
| EMR Emerson Electric Co. | New | 0.06% | +0.06 |
| BSY Bentley Systems Inc. Class B | Add +39.1% | 0.49% | +0.06 |
| WM Waste Management Inc. | Add +505.4% | 0.07% | +0.06 |
| JPM JPMorgan Chase & Co. | Add +3.6% | 0.57% | +0.06 |
| XLE SS Energy Select Sector | New | 0.05% | +0.05 |
| JIRE JPMorgan Int Res Enh Eqty | Add +10.7% | 0.37% | +0.05 |
| IEFA iShares Core MSCI Eafe ETF | Add +109.0% | 0.08% | +0.04 |
| FCX Freeport-McMoran Inc. | Add +67.6% | 0.10% | +0.04 |
| MSCI MSCI Inc. | Add +9.6% | 0.47% | +0.04 |
| SYK Stryker Corp. | New | 0.04% | +0.04 |
| MAIR Madison Air Solutions Corp. Class A | New | 0.04% | +0.04 |
| EXTR Extreme Networks Inc. | New | 0.04% | +0.04 |
| CL Colgate-Palmolive Co. | Add +9.9% | 0.30% | +0.04 |
| FWONA Liberty Media Corp. Class A | Add +0.0% | 0.47% | +0.03 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Add +6.8% | 0.22% | +0.03 |
| SBGSY Schneider Elect SE-Unsp ADR | Add +2.8% | 0.19% | +0.03 |
| INDI Indie Semiconductor Inc. Class A | New | 0.03% | +0.03 |
| ADP Automatic Data Processing | Add +17.4% | 0.13% | +0.03 |
| TOELY Tokyo Electron Ltd.-Unsp ADR | Add +13.7% | 0.04% | +0.02 |
| ITW Illinois Tool Works | Add +9.9% | 0.26% | +0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +17.4% | 0.09% | +0.02 |
| BDC Belden Inc. | New | 0.02% | +0.02 |
| FLXR TCW Flexible Income ETF | Add +15.2% | 0.23% | +0.02 |
| VRTX Vertex Pharmaceuticals Inc. | Add +7.0% | 0.17% | +0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 347 | $8.4B | ACGL, GOOG, APH, ROST, PCAR |
| Q1 2026 | 349 | $8.1B | ACGL, ROST, PCAR, GOOG, APH |
| Q4 2025 | 341 | $8.7B | ACGL, ROST, PCAR, GOOG, APH |
| Q3 2025 | 336 | $9.1B | ACGL, APH, ROST, PCAR, CDW |
| Q2 2025 | 338 | $9.3B | ACGL, IT, APH, PCAR, CDW |
| Q1 2025 | 349 | $9.0B | ACGL, CPRT, BRO, PCAR, IT |
| Q4 2024 | 335 | $8.9B | ACGL, GOOG, PCAR, CPRT, IT |
| Q3 2024 | 328 | $8.9B | ACGL, IT, PCAR, GOOG, CPRT |
| Q2 2024 | 326 | $8.1B | ACGL, GOOG, PCAR, CPRT, IT |
| Q1 2024 | 330 | $8.1B | ACGL, PCAR, GOOG, CPRT, DLTR |