Madison Asset Management, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 6, 2025), Madison Asset Management, LLC reported 336 stock positions worth $9.1 billion. Its top holding was Arch Capital (ACGL) at 4.7% of the portfolio, followed by Amphenol Class A (APH, 3.3%) and Ross Stores (ROST, 2.7%). Compared with Q2 2025, it opened 18 new positions, sold out of 20, added to 96 and reduced 186. The biggest buy was a new position in Bio-Techne (TECH) and the biggest sale Liberty Broadband-C (LBRDK, shares −25%).

Most Recent 13F
Q2 2026
Location
MADISON, WI
CIK
0001299351
Portfolio Value
$9.1B (Q3 2025)
SEC Filing
0001954889-25-000033 ↗ filed Nov 6, 2025

Holdings Value

0$2.0B$4.0B$6.0B$8.0B$10.0B Q1 2024: $8.1B Q1 2024 Q2 2024: $8.1B Q2 2024 Q3 2024: $8.9B Q3 2024 Q4 2024: $8.9B Q4 2024 Q1 2025: $9.0B Q1 2025 Q2 2025: $9.3B Q2 2025 Q3 2025: $9.1B $9.1B Q3 2025 Q4 2025: $8.7B Q4 2025 Q1 2026: $8.1B Q1 2026 Q2 2026: $8.4B Q2 2026

Holdings 336 stocks · $9.1B

ACGL Arch Capital Group Ltd. 4.71% 4,707,947 $427.2M Reduce -2.4%
APH Amphenol Corp. Class A 3.33% 2,442,702 $302.3M Reduce -1.4%
ROST Ross Stores Inc. 2.68% 1,593,021 $242.8M Reduce -4.0%
PCAR Paccar Inc. 2.67% 2,461,080 $242.0M Reduce -2.2%
CDW CDW Corp. 2.28% 1,296,175 $206.5M Reduce -2.1%
GOOG Alphabet Inc. Class C 2.26% 840,616 $204.7M Reduce -10.9%
CPRT Copart Inc. 2.24% 4,510,596 $202.8M Reduce -1.7%
BRO Brown & Brown Inc. 2.08% 2,008,760 $188.4M Reduce -1.6%
IT Gartner Inc. 2.08% 715,811 $188.2M Add +1.9%
CSL Carlisle Cos Inc. 1.85% 508,966 $167.4M Reduce -1.4%
AMZN Amazon.com Inc. 1.78% 736,150 $161.6M Reduce -1.3%
LH Labcorp Holdings Inc. 1.76% 556,122 $159.6M Reduce -2.6%
MEDP Medpace Holdings Inc. 1.66% 292,629 $150.5M Reduce -1.5%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.55% 1,831,084 $140.3M Reduce -1.2%
TXN Texas Instruments Inc. 1.47% 725,279 $133.3M Reduce -5.0%
TDY Teledyne Technologies Inc. 1.44% 222,575 $130.4M Reduce -1.1%
V Visa Inc. Class A 1.38% 366,257 $125.0M Add +1.7%
FND Floor & Decor Holdings Inc. Class A 1.34% 1,644,673 $121.2M Add +1.0%
MKSI MKS Inc. 1.33% 976,091 $120.8M Reduce -33.3%
THO Thor Industries Inc. 1.26% 1,102,188 $114.3M Reduce -1.0%
DHR Danaher Corp. 1.21% 553,187 $109.7M Reduce -3.7%
BAM Brookfield Asset Mgmt-A 1.20% 1,908,051 $108.6M Reduce -1.0%
SPHQ Invesco S&P 500 Quality ETF 1.17% 1,448,969 $106.2M Add +3.0%
ANET Arista Networks Inc. 1.17% 728,558 $106.2M Reduce -40.4%
LOW Lowe's Cos Inc. 1.13% 407,815 $102.5M Reduce -5.5%
MCHP Microchip Technology Inc. 1.13% 1,588,932 $102.0M Reduce -1.2%
FWONK Liberty Media Corp. Class C 1.12% 970,479 $101.4M Reduce -1.5%
KEYS Keysight Technologies Inc. 1.10% 571,222 $99.9M Add +7.6%
FERG Ferguson Enterprises Inc. 1.10% 442,545 $99.4M Reduce -3.8%
PGR Progressive Corp. 1.08% 397,440 $98.1M Reduce -3.7%
TREX Trex Company Inc. 1.08% 1,893,081 $97.8M Add +1.2%
ADI Analog Devices Inc. 1.03% 378,575 $93.0M Reduce -6.8%
WAT Waters Corp. 1.02% 307,693 $92.2M Reduce -1.5%
MC Moelis & Co. Class A 1.01% 1,284,261 $91.6M Reduce -0.8%
ABG Asbury Automotive Group 1.01% 374,577 $91.6M Reduce -1.0%
LAD Lithia Motors Inc. 0.99% 283,015 $89.4M Reduce -0.6%
MSFT Microsoft Corp. 0.97% 169,700 $87.9M Add +11.0%
LBRDK Liberty Broadband-C 0.93% 1,328,182 $84.4M Reduce -24.9%
A Agilent Technologies Inc. 0.93% 653,819 $83.9M Reduce -2.1%
PH Parker Hannifin Corp. 0.91% 109,245 $82.8M Reduce -9.3%
SCHW Schwab (charles) Corp. 0.85% 809,610 $77.3M Reduce -3.7%
BN Brookfield Corp. 0.85% 1,120,935 $76.9M Reduce -4.1%
JMBS Janus Henderson Mortg Backed 0.83% 1,641,120 $74.9M Reduce -5.0%
ACN Accenture PLC Class A 0.77% 284,442 $70.1M Reduce -6.2%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.76% 479,739 $69.3M Reduce -3.3%
FISV Fiserv Inc. 0.76% 534,949 $69.0M Reduce -10.1%
EXPD Expeditors Intl Wash Inc. 0.74% 547,050 $67.1M Reduce -1.2%
KNSL Kinsale Capital Group Inc. 0.73% 156,124 $66.4M Reduce -4.8%
MRSH Marsh & McLennan Cos 0.71% 319,737 $64.4M Add +2.4%
DSTL Distillate US Fundamental St 0.70% 1,090,137 $63.2M Reduce -2.3%
MSTI Madison SHRT TRM STR Inc. ETF 0.69% 3,038,297 $62.7M Reduce -1.5%
DIVL Madison Dividend Value ETF 0.61% 2,368,228 $55.1M Reduce -5.4%
MAGG Madison Aggregate Bond ETF 0.60% 2,661,903 $54.7M Reduce -5.3%
NEE Nextera Energy Inc. 0.57% 683,751 $51.6M Reduce -0.7%
GBCI Glacier Bancorp Inc. 0.56% 1,044,445 $50.8M Reduce -1.0%
AAPL Apple Inc. 0.55% 195,295 $49.7M Add +5.3%
ABNB Airbnb Inc. Class A 0.54% 401,679 $48.8M Add +55.0%
ORCL Oracle Corp. 0.53% 171,356 $48.2M Reduce -9.7%
CFR Cullen/Frost Bankers Inc. 0.53% 377,226 $47.8M Reduce -1.0%
DE Deere & Co. 0.52% 103,660 $47.4M Reduce -4.5%
LLY Eli Lilly & Co. 0.50% 58,856 $44.9M Add +5.7%
NKE Nike Inc. Class B 0.49% 640,623 $44.7M Add +53.8%
VGT Vanguard Info Tech ETF 0.49% 59,826 $44.7M Add +1.7%
SPY SS SPDR S&P 500 ETF Trust-US 0.49% 66,496 $44.3M Add +36.0%
FWONA Liberty Media Corp. Class A 0.48% 454,863 $43.3M No change
GGG Graco Inc. 0.47% 499,241 $42.4M Reduce -1.0%
JPM JPMorgan Chase & Co. 0.46% 132,583 $41.8M Reduce -7.4%
TECH Bio-Techne Corp. 0.46% 744,651 $41.4M New
CVRD Madison Covered Call ETF 0.45% 2,205,000 $40.9M Reduce -4.1%
MSCI MSCI Inc. 0.44% 70,672 $40.1M New
BLK BlackRock Inc. 0.43% 33,829 $39.4M Reduce -8.9%
SBUX Starbucks Corp. 0.43% 460,080 $38.9M Reduce -5.7%
HD Home Depot Inc. 0.43% 95,607 $38.7M Reduce -2.0%
JNJ Johnson & Johnson 0.42% 203,470 $37.7M Add +9.1%
EEMA iShares MSCI Emerg MRKT Asia 0.40% 396,693 $36.4M Add +6.2%
TEL Te Connectivity PLC 0.37% 154,023 $33.8M Reduce -2.3%
HON Honeywell International Inc. 0.36% 156,974 $33.0M Add +7.1%
VEU Vanguard Ftse All-World Ex-U 0.36% 462,706 $33.0M Add +23.2%
SCHR Schwab Intermediate-Term US 0.32% 1,139,355 $28.6M Reduce -5.6%
CME Cme Group Inc. 0.31% 105,373 $28.5M Add +36.9%
SPHY SS SPDR P High Yield ETF 0.30% 1,130,255 $27.1M Reduce -1.8%
ALC Alcon Inc. filed as ALCON AG 0.30% 360,135 $26.8M Reduce -58.5%
COST Costco Wholesale Corp. 0.28% 27,095 $25.1M Reduce -3.0%
KBE SS SPDR S&P Bank ETF 0.28% 420,694 $25.0M Add +16.4%
PEP Pepsico Inc. 0.27% 176,072 $24.7M Add +12.0%
AGG iShares Core U.S. Aggregate 0.26% 237,926 $23.9M Reduce -1.7%
ITW Illinois Tool Works 0.25% 87,875 $22.9M Add +411.8%
JIRE JPMorgan Int Res Enh Eqty 0.25% 310,862 $22.9M New
VGK Vanguard Ftse Europe ETF 0.24% 269,918 $21.5M No change
AMT American Tower Corp. 0.23% 110,199 $21.2M Reduce -25.0%
ADP Automatic Data Processing 0.23% 72,144 $21.2M Reduce -12.4%
COP Conocophillips 0.23% 220,851 $20.9M Reduce -3.3%
LIN Linde PLC 0.23% 43,601 $20.7M Add +1.9%
MS Morgan Stanley 0.22% 123,193 $19.6M Reduce -15.8%
IJR iShares Core S&P Small-Cap E 0.21% 160,260 $19.0M Reduce -7.4%
CVX Chevron Corp. 0.21% 120,842 $18.8M Reduce -4.6%
QCOM Qualcomm Inc. 0.20% 109,266 $18.2M Add +10.3%
IJH iShares Core S&P Midcap ETF 0.20% 276,110 $18.0M Reduce -4.2%
EFX Equifax Inc. 0.19% 66,179 $17.0M Add +35.0%
IGIB iShares 5-10Y Inv Grade Corp. 0.18% 309,483 $16.7M Add +5.3%
EZU iShares MSCI Eurozone ETF 0.18% 264,809 $16.4M Reduce -20.2%
IEF iShares 7-10 Year Treasury B 0.18% 169,739 $16.4M Add +0.1%
HSY The Hershey Co. 0.18% 87,066 $16.3M Reduce -1.8%
MDT Medtronic PLC 0.18% 169,689 $16.2M Reduce -35.4%
BRK.B Berkshire Hathaway Inc. Class B 0.18% 31,891 $16.0M Reduce -17.7%
ECL Ecolab Inc. 0.18% 58,171 $15.9M Reduce -1.9%
UNP Union Pacific Corp. 0.17% 66,361 $15.7M Reduce -1.9%
XOM Exxon Mobil Corp. 0.17% 138,841 $15.7M Reduce -3.9%
CMCSA Comcast Corp. Class A 0.17% 497,237 $15.6M Add +1.5%
ABBV Abbvie Inc. 0.17% 67,401 $15.6M Reduce -4.0%
LVS Las Vegas Sands Corp. 0.16% 274,900 $14.8M Reduce -19.1%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.16% 47,968 $14.8M Reduce -3.1%
AES AES Corp. 0.16% 1,094,000 $14.4M Add +0.1%
MDY State Street SPDR S&P Midcap 0.16% 24,058 $14.3M Reduce -17.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.15% 263,601 $13.6M Add +0.3%
SPTI SS SPDR P Int Term TSY ETF 0.14% 451,307 $13.0M Add +14.2%
ASML ASML Holding NV-NY Reg SHS 0.14% 12,955 $12.5M Reduce -38.6%
EOG EOG Resources Inc. 0.14% 110,540 $12.4M Reduce -3.8%
FAST Fastenal Co. 0.13% 248,234 $12.2M Reduce -32.7%
UNH Unitedhealth Group Inc. 0.13% 33,433 $11.5M Add +32.1%
XSHQ Invesco S&P Smallcap Quality 0.13% 263,953 $11.4M Reduce -1.9%
ABT Abbott Laboratories 0.12% 83,833 $11.2M Reduce -4.1%
PYPL PayPal Holdings Inc. 0.12% 157,300 $10.5M No change
VCSH Vanguard S/T Corp. Bond ETF 0.12% 131,045 $10.5M Add +9.1%
TMUS T-Mobile US Inc. 0.11% 43,300 $10.4M Add +1.4%
ADM Archer-Daniels-Midland Co. 0.11% 170,500 $10.2M Add +4.7%
SCHD Schwab US DVD Equity ETF 0.11% 365,292 $10.0M Reduce -2.4%
MTDR Matador Resources Co. 0.11% 221,000 $9.9M No change
MLPA Global X MLP ETF 0.11% 202,210 $9.8M Reduce -7.1%
FLJP Franklin Ftse Japan ETF 0.11% 277,486 $9.6M Reduce -30.0%
CVS CVS Health Corp. 0.11% 126,650 $9.5M No change
RIG Transocean Ltd. 0.10% 3,030,000 $9.5M Add +1.9%
FLXR TCW Flexible Income ETF 0.10% 235,967 $9.4M Add +335.5%
ADBE Adobe Inc. 0.10% 26,608 $9.4M Reduce -54.2%
PG The Procter & Gamble Co. 0.10% 60,659 $9.3M Reduce -4.7%
QLTA iShares Aaa - A Rated Corpor 0.10% 191,538 $9.3M Add +12.4%
EHC Encompass Health Corp. 0.10% 72,853 $9.3M Add +0.1%
CAT Caterpillar Inc. 0.10% 19,217 $9.2M Reduce -4.0%
SPTS SS SPDR P St Term TSY ETF 0.10% 306,146 $9.0M Reduce -4.2%
APA Apa Corp. 0.09% 338,700 $8.2M No change
VFH Vanguard Financials ETF 0.09% 62,208 $8.2M Add +18.2%
USB US Bancorp 0.09% 166,584 $8.1M Reduce -36.8%
APD Air Products & Chemicals Inc. 0.09% 29,384 $8.0M Reduce -4.0%
STZ Constellation Brands Inc. Class A 0.09% 58,900 $7.9M Add +44.0%
ROK Rockwell Automation Inc. 0.09% 22,537 $7.9M Reduce -53.9%
CMI Cummins Inc. 0.08% 18,233 $7.7M Add +10.1%
SPYM Ste STR SPDR PT S&P 500 ETF 0.08% 97,674 $7.7M Add +52.9%
MCD McDonald's Corp. 0.08% 24,593 $7.5M Reduce -11.7%
RLI Rli Corp. 0.07% 100,479 $6.6M Reduce -5.3%
SMG Scotts Miracle-Gro Co. 0.07% 111,868 $6.4M Add +0.1%
HAYW Hayward Holdings Inc. 0.07% 421,221 $6.4M Add +0.1%
VRTX Vertex Pharmaceuticals Inc. 0.07% 16,201 $6.3M Add +14.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.07% 13,189 $6.3M Add +56.1%
CNM Core & Main Inc. Class A 0.07% 116,023 $6.2M Reduce -7.6%
PFE Pfizer Inc. 0.07% 242,132 $6.2M Add +20.2%
CL Colgate-Palmolive Co. 0.06% 73,635 $5.9M Reduce -13.9%
ENTG Entegris Inc. 0.06% 62,353 $5.8M Add +11.2%
HQY Healthequity Inc. 0.06% 60,707 $5.8M Add +0.1%
FCX Freeport-McMoran Inc. 0.06% 142,941 $5.6M Add +60.2%
FORM Formfactor Inc. 0.06% 149,619 $5.4M Add +0.1%
ELV Elevance Health Inc. 0.06% 16,600 $5.4M Reduce -88.4%
BOX Box Inc. Class A 0.06% 161,870 $5.2M Add +0.1%
XLE SS Energy Select Sector 0.06% 57,671 $5.2M Reduce -58.4%
WY Weyerhaeuser Co. 0.06% 207,000 $5.1M New
BABA Alibaba Group Holding-SP ADR 0.06% 28,558 $5.1M Reduce -2.3%
KN Knowles Corp. 0.06% 218,377 $5.1M Add +0.1%
TSM Taiwan Semiconductor-SP ADR 0.05% 17,794 $5.0M Reduce -2.1%
AXS Axis Capital Holdings Ltd. 0.05% 51,565 $4.9M Reduce -16.6%
CCJ Cameco Corp. 0.05% 58,630 $4.9M Reduce -15.6%
IVV iShares Core S&P 500 ETF 0.05% 7,186 $4.8M Reduce -0.7%
DRS Leonardo DRS Inc. 0.05% 104,861 $4.8M Add +0.1%
TCBI Texas Capital Bancshares Inc. 0.05% 55,771 $4.7M Add +0.1%
NVDA Nvidia Corp. 0.05% 24,364 $4.5M No change
WK Workiva Inc. 0.05% 52,797 $4.5M Reduce -17.2%
OPCH Option Care Health Inc. 0.05% 162,647 $4.5M Add +0.1%
CVLT Commvault Systems Inc. 0.05% 23,794 $4.5M Add +0.1%
IEI iShares 3-7 Year Treasury Bo 0.05% 37,337 $4.5M Add +1.5%
WSC Willscot Holdings Corp. 0.05% 211,208 $4.5M Add +0.1%
VOO Vanguard S&P 500 ETF 0.05% 7,181 $4.4M Reduce -18.9%
CFLT Confluent Inc. Class A 0.05% 218,345 $4.3M Add +28.8%
CIEN Ciena Corp. 0.05% 29,216 $4.3M Reduce -29.7%
POWI Power Integrations Inc. 0.05% 103,171 $4.1M Add +0.1%
WAL Western Alliance Bancorp 0.05% 47,243 $4.1M Add +0.1%
CR Crane Co. 0.04% 22,154 $4.1M Add +0.1%
SHAK Shake Shack Inc. Class A 0.04% 42,552 $4.0M Reduce -1.1%
OSW Onespaworld Holdings Ltd. 0.04% 187,118 $4.0M Reduce -32.0%
VFLO Victoryshares Free Cash Flow 0.04% 100,307 $3.8M Add +78.4%
GOOGL Alphabet Inc. Class A 0.04% 14,835 $3.6M Reduce -5.2%
SMPL The Simply Good Foods Co. 0.04% 143,592 $3.6M Reduce -14.9%
AAGIY Aia Group Ltd.-SP ADR 0.04% 90,594 $3.5M Add +5.2%
REGN Regeneron Pharmaceuticals 0.04% 6,111 $3.4M Reduce -4.5%
VFC VF Corp. 0.04% 235,396 $3.4M Add +0.1%
IQLT iShares MSCI International Q 0.04% 74,040 $3.3M Reduce -83.2%
HDB HDFC Bank Ltd.-ADR 0.04% 95,050 $3.2M Reduce -1.9%
AZN Astrazeneca PLC-Spons ADR 0.04% 42,179 $3.2M Reduce -10.4%
THG Hanover Insurance Group Inc./ 0.04% 17,800 $3.2M Add +0.1%
CCOI Cogent Communications Holdin 0.04% 83,719 $3.2M Reduce -9.3%
WMS Advanced Drainage Systems Inc. 0.04% 23,143 $3.2M Add +0.1%
PRMB Primo Brands Corp. 0.04% 143,492 $3.2M Reduce -15.1%
PNGAY Ping An Insurance-ADR 0.04% 232,910 $3.2M Reduce -2.3%
EADSY Airbus SE - Unsp ADR 0.03% 54,405 $3.2M Reduce -19.6%
GWW WW Grainger Inc. filed as GRAINGER W W INC 0.03% 3,287 $3.1M Reduce -5.0%
SPMD SS SPDR P S&P 400 Midcap ETF 0.03% 53,052 $3.0M Add +9.3%
SONY Sony Group Corp. - SP ADR 0.03% 104,903 $3.0M Reduce -2.4%
CXT Crane NXT Co. 0.03% 44,999 $3.0M Add +0.1%
DLTH Duluth Holdings Inc. Class B 0.03% 762,777 $3.0M No change
OLLI Ollie's Bargain Outlet Holdi 0.03% 23,073 $3.0M Reduce -13.4%
BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN 0.03% 104,951 $3.0M Reduce -16.6%
AVGO Broadcom Inc. 0.03% 8,813 $2.9M Add +2.5%
CTS CTS Corp. 0.03% 72,341 $2.9M Add +51.4%
TCEHY Tencent Holdings Ltd.-Uns ADR 0.03% 33,412 $2.8M Reduce -2.3%
META Meta Platforms Inc. Class A 0.03% 3,822 $2.8M Reduce -2.0%
PUK Prudential PLC-ADR 0.03% 99,529 $2.8M Reduce -2.3%
RVLV Revolve Group Inc. Class A 0.03% 129,200 $2.8M Add +0.1%
WMMVY Walmart DE Mexico-Spon ADR V 0.03% 88,995 $2.7M Reduce -1.9%
EPC Edgewell Personal Care Co. 0.03% 134,168 $2.7M Add +17.6%
ITUB Itau Unibanco H-Spon PRF ADR 0.03% 364,971 $2.7M Reduce -1.9%
BINV Brandes International ETF 0.03% 69,155 $2.7M New
MWA Mueller Water Products Inc. Class A 0.03% 101,282 $2.6M Add +0.1%
DSMC Distillate S/M Cash Flow ETF 0.03% 71,111 $2.6M Add +18.3%
SEZL Sezzle Inc. 0.03% 31,534 $2.5M New
MUFG Mitsubishi Ufj Finl-Spon ADR 0.03% 156,965 $2.5M Reduce -2.3%
DTEGY Deutsche Telekom AG-Spon ADR 0.03% 73,240 $2.5M Reduce -2.3%
CHRD Chord Energy Corp. 0.03% 24,790 $2.5M Add +0.1%
VIG Vanguard Dividend Apprec ETF 0.03% 11,375 $2.5M Reduce -1.6%
DQJCY Pan Pacific Intern-Unsp ADR 0.03% 73,749 $2.4M Reduce -11.4%
OLN Olin Corp. 0.03% 97,061 $2.4M Reduce -0.0%
KIGRY Kion Group AG-Unsp ADR 0.03% 143,075 $2.4M Reduce -22.4%
KRYAY Kerry Group PLC-Spons ADR 0.03% 26,616 $2.4M Reduce -2.3%
DSNKY Daiichi Sankyo Co.-Spon ADR 0.03% 103,259 $2.3M Add +7.9%
PKW Invesco Buyback Achievers Et 0.02% 16,969 $2.2M No change
SIEGY Siemens AG-Spons ADR 0.02% 16,581 $2.2M Reduce -2.3%
SDY SS SPDR S&P Dividend ETF 0.02% 15,613 $2.2M No change
ADDYY Adidas AG-Sponsored ADR 0.02% 20,442 $2.2M Add +11.5%
MRK Merck & Co. Inc. 0.02% 25,514 $2.1M Reduce -1.8%
AMGN Amgen Inc. 0.02% 7,375 $2.1M Reduce -0.3%
TRYIY Toray Industries-Unspon ADR 0.02% 161,135 $2.0M Reduce -2.3%
INFY Infosys Ltd.-SP ADR 0.02% 122,805 $2.0M Add +13.9%
SCCO Southern Copper Corp. 0.02% 16,424 $2.0M Reduce -16.3%
EXP Eagle Materials Inc. 0.02% 8,478 $2.0M New
CP Canadian Pacific Kansas City 0.02% 26,029 $1.9M Reduce -1.9%
CRL Charles River Laboratories 0.02% 12,366 $1.9M New
AEM Agnico Eagle Mines Ltd. 0.02% 11,379 $1.9M Reduce -2.7%
GMAB Genmab A/S -SP ADR 0.02% 61,492 $1.9M Reduce -2.3%
TSRYY Treasury Wine Estates-ADR 0.02% 406,872 $1.9M Add +10.4%
SPGI S&P Global Inc. 0.02% 3,817 $1.9M Reduce -0.1%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.02% 17,960 $1.8M Reduce -3.1%
MRAAY Murata Manufactur-Unspon ADR 0.02% 185,714 $1.7M Reduce -2.3%
NXPI NXP Semiconductors NV 0.02% 7,634 $1.7M Reduce -1.9%
NHYDY Norsk Hydro As-Spons ADR 0.02% 247,680 $1.7M Reduce -2.0%
LSRCY Lasertec Corp. - ADR Unsp 0.02% 61,622 $1.7M Reduce -2.3%
WIZEY Wise PLC - Spon ADR 0.02% 114,245 $1.6M Reduce -2.3%
FMX Fomento Economico Mex-SP ADR 0.02% 16,411 $1.6M Reduce -1.9%
FNDX Schwab Fndmntl US LRG Co. ETF 0.02% 60,771 $1.6M No change
RACE Ferrari NV 0.02% 3,275 $1.6M Add +21.3%
CABGY Carlsberg As-B-Spon ADR 0.02% 67,809 $1.6M Add +16.4%
CYBR Cyberark Software Ltd./Israel 0.02% 3,255 $1.6M Reduce -45.7%
PRDSY Prada S.P.A.-Unsp ADR 0.02% 129,807 $1.6M Add +18.2%
SAP Sap SE-Sponsored ADR 0.02% 5,735 $1.5M Reduce -2.0%
GMED Globus Medical Inc. Class A 0.02% 26,750 $1.5M Reduce -68.8%
SYY Sysco Corp. 0.02% 18,529 $1.5M New
SXYAY Sika AG-ADR 0.02% 67,308 $1.5M Reduce -2.4%
ATEYY Advantest Corp.- Spon ADR 0.02% 14,946 $1.5M Reduce -36.8%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.02% 92,245 $1.5M New
JAAA Janus Henderson Aaa Clo ETF 0.02% 28,845 $1.5M Reduce -83.6%
LZAGY Lonza Group AG-Unspon ADR 0.02% 21,926 $1.5M Reduce -19.6%
DGX Quest Diagnostics Inc. 0.02% 7,562 $1.4M Reduce -23.2%
YUMC Yum China Holdings Inc. 0.02% 33,534 $1.4M New
SCBFY Standard Chartered- Unsp ADR 0.02% 36,496 $1.4M New
HXL Hexcel Corp. 0.02% 22,483 $1.4M New
MOS The Mosaic Co. 0.02% 40,574 $1.4M Reduce -2.8%
SHECY Shin-Etsu Chem-Unspon ADR 0.02% 85,165 $1.4M Reduce -2.3%
NICE Nice Ltd. - Spon ADR 0.02% 9,540 $1.4M New
IWM iShares Russell 2000 ETF 0.02% 5,686 $1.4M Add +369.5%
AIQUY Air Liquide-Unsponsored ADR 0.01% 32,045 $1.3M Reduce -2.4%
ALL Allstate Corp. 0.01% 5,969 $1.3M No change
HESAY Hermes Intl-Unsponsored ADR 0.01% 4,954 $1.2M Add +24.3%
VICI Vici Properties Inc. filed as VICI PPTYS INC 0.01% 36,430 $1.2M Add +97.5%
NJDCY Nidec Corporation-Spon ADR 0.01% 271,549 $1.2M Reduce -2.3%
IWF iShares Russell 1000 Growth 0.01% 2,440 $1.1M No change
SYIEY Symrise AG-Unspon ADR 0.01% 51,485 $1.1M Reduce -2.4%
SHEL Shell PLC-ADR 0.01% 15,563 $1.1M Reduce -18.9%
GRMN Garmin Ltd. 0.01% 4,384 $1.1M No change
AFL Aflac Inc. 0.01% 9,516 $1.1M Add +133.0%
WFC Wells Fargo & Co. 0.01% 11,725 $983K Reduce -11.8%
UPS United Parcel Service Class B 0.01% 11,160 $932K Add +2.0%
GD General Dynamics Corp. 0.01% 2,630 $897K No change
MA Mastercard Inc. Class A 0.01% 1,537 $874K No change
INTU Intuit Inc. 0.01% 1,200 $819K Reduce -29.0%
BBJP JPMorgan Betabuilders Japan 0.01% 11,615 $770K Reduce -65.5%
VB Vanguard Most SM-Cap ETF-Usd 0.01% 2,985 $759K Reduce -3.9%
LUMN Lumen Technologies Inc. 0.01% 124,000 $759K No change
IEFA iShares Core MSCI Eafe ETF 0.01% 8,648 $755K Add +19.2%
QLTY GMO U.S. Quality ETF 0.01% 20,787 $752K Add +1.9%
TRV The Travelers Cos Inc. 0.01% 2,690 $751K Reduce -5.3%
WM Waste Management Inc. 0.01% 3,275 $723K No change
ATI Ati Inc. 0.01% 8,500 $691K Reduce -32.0%
KO The Coca-Cola Co. 0.01% 9,825 $652K Reduce -14.8%
IUSG iShares Core S&P U.S. Growth 0.01% 3,815 $628K Reduce -10.1%
IWB iShares Russell 1000 ETF 0.01% 1,701 $622K Add +9.7%
COF Capital One Financial Corp. 0.01% 2,897 $616K No change
IWR iShares Russell Mid-Cap ETF 0.01% 6,304 $609K Reduce -12.4%
SCHF Schwab Intl Equity ETF 0.01% 25,140 $585K No change
CSCO Cisco Systems Inc. 0.01% 8,097 $554K Reduce -31.4%
MKL Markel Group Inc. 0.01% 279 $533K Reduce -2.1%
BA The Boeing Co. 0.01% 2,350 $507K No change
MU Micron Technology Inc. 0.01% 3,000 $502K No change
TFLO iShares Treasury Floating Ra 0.01% 9,469 $479K Add +25.5%
QUAL iShares MSCI USA Quality Fac 0.01% 2,309 $449K No change
GILD Gilead Sciences Inc. 0.00% 4,000 $444K No change
IWP iShares Russell Mid-Cap Grow 0.00% 3,078 $438K No change
LNT Alliant Energy Corp. 0.00% 6,431 $434K No change
SHV iShares 0-1 Year Treasury Bo 0.00% 3,748 $414K Reduce -39.3%
AIQ Global X Art Intel & Tech 0.00% 8,173 $404K No change
BCD Abrdn Bloomberg All Commodit filed as ABRDN ETFS 0.00% 11,400 $392K New
NSRGY Nestle SA-Spons ADR 0.00% 4,033 $370K Add +3.5%
MBB iShares MBS ETF 0.00% 3,519 $335K No change
IWO iShares Russell 2000 Growth 0.00% 1,032 $330K No change
WMT Walmart Inc. 0.00% 3,176 $327K Add +18.7%
VWO Vanguard Ftse Emerging Marke 0.00% 5,851 $317K No change
TGT Target Corp. 0.00% 3,395 $305K Reduce -49.9%
BX Blackstone Inc. 0.00% 1,721 $294K No change
J Jacobs Solutions Inc. 0.00% 1,886 $283K No change
MGEE Mge Energy Inc. 0.00% 3,138 $264K No change
CSX CSX Corp. 0.00% 6,888 $245K No change
RTX RTX Corp. 0.00% 1,454 $243K Reduce -10.0%
BSX Boston Scientific Corp. 0.00% 2,464 $241K Reduce -8.7%
QQQ Invesco QQQ Trust Series 1 0.00% 398 $239K No change
IBIT iShares Bitcoin Trust ETF 0.00% 3,675 $239K No change
NUE Nucor Corp. 0.00% 1,762 $239K Reduce -4.2%
AWI Armstrong World Industries 0.00% 1,177 $231K Reduce -9.7%
PM Philip Morris International 0.00% 1,393 $226K Reduce -27.6%
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.00% 1,702 $222K New
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.00% 742 $218K Reduce -8.5%
MO Altria Group Inc. 0.00% 3,230 $213K New
NVS Novartis AG-Sponsored ADR 0.00% 1,619 $208K New

Portfolio Sells Q2 2025 → Q3 2025

LBRDK Liberty Broadband-C Reduce -24.9% 0.93% −0.95
ELV Elevance Health Inc. Reduce -88.4% 0.06% −0.54
ALC Alcon Inc. Reduce -58.5% 0.30% −0.53
BRO Brown & Brown Inc. Reduce -1.6% 2.08% −0.37
FISV Fiserv Inc. Reduce -10.1% 0.76% −0.35
CDW CDW Corp. Reduce -2.1% 2.28% −0.28
TXN Texas Instruments Inc. Reduce -5.0% 1.47% −0.24
MKSI MKS Inc. Reduce -33.3% 1.33% −0.24
CSL Carlisle Cos Inc. Reduce -1.4% 1.85% −0.24
ACN Accenture PLC Class A Reduce -6.2% 0.77% −0.21
CPRT Copart Inc. Reduce -1.7% 2.24% −0.20
ANET Arista Networks Inc. Reduce -40.4% 1.17% −0.18
IQLT iShares MSCI International Q Reduce -83.2% 0.04% −0.17
SPTL SS SPDR PF LNG TRM TSY E-Usd Sold out 0.00% −0.16
WAT Waters Corp. Reduce -1.5% 1.02% −0.16
B Barrick Mining Corp. Sold out 0.00% −0.14
ADBE Adobe Inc. Reduce -54.2% 0.10% −0.14
KNSL Kinsale Capital Group Inc. Reduce -4.8% 0.73% −0.12
AMT American Tower Corp. Reduce -25.0% 0.23% −0.12
PGR Progressive Corp. Reduce -3.7% 1.08% −0.11
MCHP Microchip Technology Inc. Reduce -1.2% 1.13% −0.10
AMD Advanced Micro Devices Sold out 0.00% −0.09
ROK Rockwell Automation Inc. Reduce -53.9% 0.09% −0.09
PAYX Paychex Inc. Sold out 0.00% −0.09
JAAA Janus Henderson Aaa Clo ETF Reduce -83.6% 0.02% −0.08
DE Deere & Co. Reduce -4.5% 0.52% −0.07
XLE SS Energy Select Sector Reduce -58.4% 0.06% −0.07
MDT Medtronic PLC Reduce -35.4% 0.18% −0.07
SBUX Starbucks Corp. Reduce -5.7% 0.43% −0.05
LAD Lithia Motors Inc. Reduce -0.6% 0.99% −0.05
HPE Hewlett Packard Enterprise Sold out 0.00% −0.05
ASML ASML Holding NV-NY Reg SHS Reduce -38.6% 0.14% −0.04
ADP Automatic Data Processing Reduce -12.4% 0.23% −0.04
USB US Bancorp Reduce -36.8% 0.09% −0.04
GMED Globus Medical Inc. Class A Reduce -68.8% 0.02% −0.04
ACGL Arch Capital Group Ltd. Reduce -2.4% 4.71% −0.03
FAST Fastenal Co. Reduce -32.7% 0.13% −0.03
EZU iShares MSCI Eurozone ETF Reduce -20.2% 0.18% −0.03
FLJP Franklin Ftse Japan ETF Reduce -30.0% 0.11% −0.03
BRK.B Berkshire Hathaway Inc. Class B Reduce -17.7% 0.18% −0.03
BWIN Baldwin Insurance Group Inc./ Reduce -16.6% 0.03% −0.03
HUM Humana Inc. Sold out 0.00% −0.02
COST Costco Wholesale Corp. Reduce -3.0% 0.28% −0.02
SHAK Shake Shack Inc. Class A Reduce -1.1% 0.04% −0.02
MDY State Street SPDR S&P Midcap Reduce -17.5% 0.16% −0.02
PRMB Primo Brands Corp. Reduce -15.1% 0.04% −0.02
CL Colgate-Palmolive Co. Reduce -13.9% 0.06% −0.02
SMPL The Simply Good Foods Co. Reduce -14.9% 0.04% −0.02
ADI Analog Devices Inc. Reduce -6.8% 1.03% −0.02
OSW Onespaworld Holdings Ltd. Reduce -32.0% 0.04% −0.02

Portfolio Buys Q2 2025 → Q3 2025

TECH Bio-Techne Corp. New 0.46% +0.46
MSCI MSCI Inc. New 0.44% +0.44
JIRE JPMorgan Int Res Enh Eqty New 0.25% +0.25
ITW Illinois Tool Works Add +411.8% 0.25% +0.21
NKE Nike Inc. Class B Add +53.8% 0.49% +0.17
ABNB Airbnb Inc. Class A Add +55.0% 0.54% +0.17
SPY SS SPDR S&P 500 ETF Trust-US Add +36.0% 0.49% +0.16
KEYS Keysight Technologies Inc. Add +7.6% 1.10% +0.16
MSFT Microsoft Corp. Add +11.0% 0.97% +0.15
AAPL Apple Inc. Add +5.3% 0.55% +0.14
JNJ Johnson & Johnson Add +9.1% 0.42% +0.11
VEU Vanguard Ftse All-World Ex-U Add +23.2% 0.36% +0.09
SPHQ Invesco S&P 500 Quality ETF Add +3.0% 1.17% +0.09
CME Cme Group Inc. Add +36.9% 0.31% +0.08
FLXR TCW Flexible Income ETF Add +335.5% 0.10% +0.08
VGT Vanguard Info Tech ETF Add +1.7% 0.49% +0.07
EEMA iShares MSCI Emerg MRKT Asia Add +6.2% 0.40% +0.07
KBE SS SPDR S&P Bank ETF Add +16.4% 0.28% +0.06
WY Weyerhaeuser Co. New 0.06% +0.06
EFX Equifax Inc. Add +35.0% 0.19% +0.05
PEP Pepsico Inc. Add +12.0% 0.27% +0.05
UNH Unitedhealth Group Inc. Add +32.1% 0.13% +0.04
AES AES Corp. Add +0.1% 0.16% +0.03
SPYM Ste STR SPDR PT S&P 500 ETF Add +52.9% 0.08% +0.03
QCOM Qualcomm Inc. Add +10.3% 0.20% +0.03
VUG Vanguard Mrngstar GR ETF-Sui Add +56.1% 0.07% +0.03
BINV Brandes International ETF New 0.03% +0.03
SEZL Sezzle Inc. New 0.03% +0.03
CMI Cummins Inc. Add +10.1% 0.08% +0.03
LLY Eli Lilly & Co. Add +5.7% 0.50% +0.03
EXP Eagle Materials Inc. New 0.02% +0.02
CRL Charles River Laboratories New 0.02% +0.02
SPTI SS SPDR P Int Term TSY ETF Add +14.2% 0.14% +0.02
RIG Transocean Ltd. Add +1.9% 0.10% +0.02
FCX Freeport-McMoran Inc. Add +60.2% 0.06% +0.02
VFLO Victoryshares Free Cash Flow Add +78.4% 0.04% +0.02
ADM Archer-Daniels-Midland Co. Add +4.7% 0.11% +0.02
VFH Vanguard Financials ETF Add +18.2% 0.09% +0.02
SYY Sysco Corp. New 0.02% +0.02
NU Nu Holdings Ltd./Cayman Isl-A New 0.02% +0.02
YUMC Yum China Holdings Inc. New 0.02% +0.02
SCBFY Standard Chartered- Unsp ADR New 0.02% +0.02
BAC Bank of America Corp. Add +0.3% 0.15% +0.02
STZ Constellation Brands Inc. Class A Add +44.0% 0.09% +0.02
HXL Hexcel Corp. New 0.02% +0.02
IGIB iShares 5-10Y Inv Grade Corp. Add +5.3% 0.18% +0.02
PFE Pfizer Inc. Add +20.2% 0.07% +0.02
NICE Nice Ltd. - Spon ADR New 0.02% +0.02
ENTG Entegris Inc. Add +11.2% 0.06% +0.01
KN Knowles Corp. Add +0.1% 0.06% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 347$8.4BACGL, GOOG, APH, ROST, PCAR
Q1 2026 349$8.1BACGL, ROST, PCAR, GOOG, APH
Q4 2025 341$8.7BACGL, ROST, PCAR, GOOG, APH
Q3 2025 336$9.1BACGL, APH, ROST, PCAR, CDW
Q2 2025 338$9.3BACGL, IT, APH, PCAR, CDW
Q1 2025 349$9.0BACGL, CPRT, BRO, PCAR, IT
Q4 2024 335$8.9BACGL, GOOG, PCAR, CPRT, IT
Q3 2024 328$8.9BACGL, IT, PCAR, GOOG, CPRT
Q2 2024 326$8.1BACGL, GOOG, PCAR, CPRT, IT
Q1 2024 330$8.1BACGL, PCAR, GOOG, CPRT, DLTR