Madison Asset Management, LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 4, 2026), Madison Asset Management, LLC reported 341 stock positions worth $8.7 billion. Its top holding was Arch Capital (ACGL) at 4.8% of the portfolio, followed by Ross Stores (ROST, 3.1%) and Paccar (PCAR, 2.9%). Compared with Q3 2025, it opened 26 new positions, sold out of 21, added to 91 and reduced 186. The biggest buy was a new position in Msa Safety (MSA) and the biggest sale Amphenol Class A (APH, shares −45%).

Most Recent 13F
Q2 2026
Location
MADISON, WI
CIK
0001299351
Portfolio Value
$8.7B (Q4 2025)
SEC Filing
0001954889-26-000008 ↗ filed Feb 4, 2026

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 Q3 2025 Q4 2025: $8.7B $8.7B Q4 2025 Q1 2026: $8.1B Q1 2026 Q2 2026: $8.4B Q2 2026

Holdings 341 stocks · $8.7B

ACGL Arch Capital Group Ltd. 4.78% 4,332,431 $415.6M Reduce -8.0%
ROST Ross Stores Inc. 3.12% 1,507,387 $271.5M Reduce -5.4%
PCAR Paccar Inc. 2.88% 2,282,440 $249.9M Reduce -7.3%
GOOG Alphabet Inc. Class C 2.78% 769,985 $241.6M Reduce -8.4%
APH Amphenol Corp. Class A 2.09% 1,340,841 $181.2M Reduce -45.1%
IT Gartner Inc. 1.96% 675,398 $170.4M Reduce -5.7%
AMZN Amazon.com Inc. 1.87% 702,961 $162.3M Reduce -4.5%
CPRT Copart Inc. 1.83% 4,072,359 $159.4M Reduce -9.7%
BRO Brown & Brown Inc. 1.82% 1,987,110 $158.4M Reduce -1.1%
CDW CDW Corp. 1.81% 1,154,334 $157.2M Reduce -10.9%
MEDP Medpace Holdings Inc. 1.80% 277,757 $156.0M Reduce -5.1%
CSL Carlisle Cos Inc. 1.75% 475,632 $152.1M Reduce -6.5%
MKSI MKS Inc. 1.69% 921,450 $147.2M Reduce -5.6%
LH Labcorp Holdings Inc. 1.52% 525,878 $131.9M Reduce -5.4%
DHR Danaher Corp. 1.44% 545,044 $124.8M Reduce -1.5%
V Visa Inc. Class A 1.43% 355,548 $124.7M Reduce -2.9%
WRB WR Berkley Corp. filed as BERKLEY W R CORP 1.39% 1,724,598 $120.9M Reduce -5.8%
TXN Texas Instruments Inc. 1.35% 677,878 $117.6M Reduce -6.5%
WAT Waters Corp. 1.28% 293,164 $111.4M Reduce -4.7%
TDY Teledyne Technologies Inc. 1.24% 210,832 $107.7M Reduce -5.3%
THO Thor Industries Inc. 1.23% 1,043,703 $107.2M Reduce -5.3%
KEYS Keysight Technologies Inc. 1.21% 519,312 $105.5M Reduce -9.1%
SPHQ Invesco S&P 500 Quality ETF 1.18% 1,362,392 $102.2M Reduce -6.0%
ADI Analog Devices Inc. 1.15% 367,468 $99.7M Reduce -2.9%
MSFT Microsoft Corp. 1.10% 196,935 $95.2M Add +16.1%
BAM Brookfield Asset Mgmt-A 1.09% 1,801,474 $94.4M Reduce -5.6%
ANET Arista Networks Inc. 1.07% 712,155 $93.3M Reduce -2.3%
MSA Msa Safety Inc. 1.05% 568,244 $91.0M New
LOW Lowe's Cos Inc. 1.04% 375,532 $90.6M Reduce -7.9%
FERG Ferguson Enterprises Inc. 1.02% 397,291 $88.4M Reduce -10.2%
LAD Lithia Motors Inc. 1.02% 266,043 $88.4M Reduce -6.0%
FWONK Liberty Media Corp. Class C 1.01% 892,786 $87.9M Reduce -8.0%
PH Parker Hannifin Corp. 1.00% 98,952 $87.0M Reduce -9.4%
FND Floor & Decor Holdings Inc. Class A 0.99% 1,411,076 $85.9M Reduce -14.2%
MC Moelis & Co. Class A 0.96% 1,218,178 $83.7M Reduce -5.2%
PGR Progressive Corp. 0.96% 367,175 $83.6M Reduce -7.6%
A Agilent Technologies Inc. 0.95% 609,418 $82.9M Reduce -6.8%
AOS Smith (a.o.) Corp. 0.93% 1,209,405 $80.9M New
ABG Asbury Automotive Group 0.93% 346,280 $80.5M Reduce -7.5%
EXPD Expeditors Intl Wash Inc. 0.90% 525,834 $78.4M Reduce -3.9%
SCHW Schwab (charles) Corp. 0.88% 761,350 $76.1M Reduce -6.0%
JMBS Janus Henderson Mortg Backed 0.81% 1,532,028 $70.0M Reduce -6.7%
TECH Bio-Techne Corp. 0.80% 1,181,308 $69.5M Add +58.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.79% 449,390 $69.0M Reduce -6.3%
BN Brookfield Corp. 0.79% 1,498,571 $68.8M Reduce -10.9%
HON Honeywell International Inc. 0.79% 350,974 $68.5M Add +123.6%
TTAN Servicetitan Inc. Class A 0.78% 638,075 $68.0M New
ACN Accenture PLC Class A 0.75% 244,254 $65.5M Reduce -14.1%
LLY Eli Lilly & Co. 0.75% 60,914 $65.5M Add +3.5%
MSTI Madison SHRT TRM STR Inc. ETF 0.67% 2,820,994 $57.8M Reduce -7.2%
LBRDK Liberty Broadband-C 0.66% 1,181,920 $57.4M Reduce -11.0%
DSTL Distillate US Fundamental St 0.64% 943,332 $55.6M Reduce -13.5%
NEE Nextera Energy Inc. 0.63% 686,878 $55.1M Add +0.5%
MRSH Marsh & McLennan Cos 0.62% 290,337 $53.9M Reduce -9.2%
KNSL Kinsale Capital Group Inc. 0.62% 137,362 $53.7M Reduce -12.0%
MAGG Madison Aggregate Bond ETF 0.62% 2,606,897 $53.5M Reduce -2.1%
DIVL Madison Dividend Value ETF 0.61% 2,328,892 $53.4M Reduce -1.7%
AAPL Apple Inc. 0.61% 195,520 $53.2M Add +0.1%
MDY State Street SPDR S&P Midcap 0.58% 83,341 $50.3M Add +246.4%
ABNB Airbnb Inc. Class A 0.57% 362,323 $49.2M Reduce -9.8%
DE Deere & Co. 0.53% 98,137 $45.7M Reduce -5.3%
CFR Cullen/Frost Bankers Inc. 0.52% 356,874 $45.2M Reduce -5.4%
JPM JPMorgan Chase & Co. 0.51% 137,868 $44.4M Add +4.0%
VGT Vanguard Info Tech ETF 0.50% 58,121 $43.8M Reduce -2.9%
SPY SS SPDR S&P 500 ETF Trust-US 0.50% 64,038 $43.7M Reduce -3.7%
GBCI Glacier Bancorp Inc. 0.50% 987,362 $43.5M Reduce -5.5%
FWONA Liberty Media Corp. Class A 0.47% 454,863 $40.7M No change
GGG Graco Inc. 0.45% 473,849 $38.8M Reduce -5.1%
EEMA iShares MSCI Emerg MRKT Asia 0.42% 392,640 $36.9M Reduce -1.0%
VEU Vanguard Ftse All-World Ex-U 0.42% 497,130 $36.6M Add +7.4%
BLK BlackRock Inc. 0.41% 33,693 $36.1M Reduce -0.4%
CVRD Madison Covered Call ETF 0.40% 1,885,000 $34.7M Reduce -14.5%
QCOM Qualcomm Inc. 0.40% 202,944 $34.7M Add +85.7%
TEL Te Connectivity PLC 0.40% 152,050 $34.6M Reduce -1.3%
JNJ Johnson & Johnson 0.37% 157,184 $32.5M Reduce -22.8%
HD Home Depot Inc. 0.37% 94,398 $32.5M Reduce -1.3%
MSCI MSCI Inc. 0.37% 55,494 $31.8M Reduce -21.5%
SBUX Starbucks Corp. 0.36% 367,263 $30.9M Reduce -20.2%
CME Cme Group Inc. 0.35% 110,567 $30.2M Add +4.9%
IJR iShares Core S&P Small-Cap E 0.34% 249,350 $30.0M Add +55.6%
SCHR Schwab Intermediate-Term US 0.33% 1,132,088 $28.4M Reduce -0.6%
XOM Exxon Mobil Corp. 0.31% 222,970 $26.8M Add +60.6%
SPHY SS SPDR P High Yield ETF 0.31% 1,130,255 $26.8M No change
ORCL Oracle Corp. 0.30% 133,071 $25.9M Reduce -22.3%
ALC Alcon Inc. filed as ALCON AG 0.29% 320,900 $25.3M Reduce -10.9%
PEP Pepsico Inc. 0.29% 173,291 $24.9M Reduce -1.6%
AGG iShares Core U.S. Aggregate 0.28% 247,990 $24.8M Add +4.2%
KBE SS SPDR S&P Bank ETF 0.28% 406,063 $24.6M Reduce -3.5%
CVX Chevron Corp. 0.28% 159,868 $24.4M Add +32.3%
COST Costco Wholesale Corp. 0.27% 27,581 $23.8M Add +1.8%
JIRE JPMorgan Int Res Enh Eqty 0.27% 310,496 $23.2M Reduce -0.1%
VGK Vanguard Ftse Europe ETF 0.26% 266,160 $22.3M Reduce -1.4%
ITW Illinois Tool Works 0.25% 86,961 $21.4M Reduce -1.0%
WDAY Workday Inc. Class A 0.23% 93,120 $20.0M New
LIN Linde PLC 0.23% 46,772 $19.9M Add +7.3%
IJH iShares Core S&P Midcap ETF 0.23% 297,331 $19.6M Add +7.7%
MDT Medtronic PLC 0.22% 195,216 $18.8M Add +15.0%
ADP Automatic Data Processing 0.21% 70,666 $18.2M Reduce -2.0%
MS Morgan Stanley 0.21% 101,108 $17.9M Reduce -17.9%
VFLO Victoryshares Free Cash Flow 0.20% 437,966 $17.2M Add +336.6%
ASML ASML Holding NV-NY Reg SHS 0.19% 15,672 $16.8M Add +21.0%
ECL Ecolab Inc. 0.19% 63,218 $16.6M Add +8.7%
IEF iShares 7-10 Year Treasury B 0.18% 164,014 $15.8M Reduce -3.4%
AES AES Corp. 0.18% 1,094,000 $15.7M No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.18% 49,754 $15.7M Add +3.7%
HSY The Hershey Co. 0.18% 85,914 $15.6M Reduce -1.3%
BRK.B Berkshire Hathaway Inc. Class B 0.18% 30,808 $15.5M Reduce -3.4%
EZU iShares MSCI Eurozone ETF 0.18% 237,385 $15.2M Reduce -10.4%
ABBV Abbvie Inc. 0.17% 65,421 $14.9M Reduce -2.9%
UNP Union Pacific Corp. 0.17% 64,069 $14.8M Reduce -3.5%
FAST Fastenal Co. 0.17% 363,279 $14.6M Add +46.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.16% 254,087 $14.0M Reduce -3.6%
IGIB iShares 5-10Y Inv Grade Corp. 0.15% 245,961 $13.3M Reduce -20.5%
EMLC Vaneck JPM Em Local Curr BND 0.15% 511,961 $13.2M New
NKE Nike Inc. Class B 0.15% 207,225 $13.2M Reduce -67.7%
SPTI SS SPDR P Int Term TSY ETF 0.15% 454,171 $13.1M Add +0.6%
MCD McDonald's Corp. 0.15% 41,366 $12.6M Add +68.2%
RIG Transocean Ltd. 0.14% 3,030,000 $12.5M No change
CRM Salesforce Inc. 0.14% 46,599 $12.3M New
ABT Abbott Laboratories 0.14% 97,681 $12.2M Add +16.5%
ADBE Adobe Inc. 0.14% 34,887 $12.2M Add +31.1%
PG The Procter & Gamble Co. 0.14% 82,997 $11.9M Add +36.8%
UNH Unitedhealth Group Inc. 0.14% 35,623 $11.8M Add +6.5%
SBGSY Schneider Elect SE-Unsp ADR 0.13% 212,988 $11.7M New
COP Conocophillips 0.13% 117,200 $11.0M Reduce -46.9%
USB US Bancorp 0.12% 198,996 $10.6M Add +19.5%
MCHP Microchip Technology Inc. 0.12% 163,303 $10.4M Reduce -89.7%
CVS CVS Health Corp. 0.12% 126,650 $10.1M No change
SCHD Schwab US DVD Equity ETF 0.12% 365,292 $10.0M No change
FLXR TCW Flexible Income ETF 0.11% 249,639 $9.9M Add +5.8%
ADM Archer-Daniels-Midland Co. 0.11% 170,500 $9.8M No change
MLPA Global X MLP ETF 0.11% 196,210 $9.5M Reduce -3.0%
FLJP Franklin Ftse Japan ETF 0.11% 273,154 $9.4M Reduce -1.6%
MTDR Matador Resources Co. 0.11% 221,000 $9.4M No change
EOG EOG Resources Inc. 0.11% 88,985 $9.3M Reduce -19.5%
QLTA iShares Aaa - A Rated Corpor 0.10% 188,104 $9.0M Reduce -1.8%
SPTS SS SPDR P St Term TSY ETF 0.10% 306,015 $9.0M Reduce -0.0%
VCSH Vanguard S/T Corp. Bond ETF 0.10% 111,584 $8.9M Reduce -14.8%
TMUS T-Mobile US Inc. 0.10% 43,300 $8.8M No change
PYPL PayPal Holdings Inc. 0.10% 150,300 $8.8M Reduce -4.5%
VFH Vanguard Financials ETF 0.10% 65,237 $8.7M Add +4.9%
ROK Rockwell Automation Inc. 0.10% 21,477 $8.4M Reduce -4.7%
APA Apa Corp. 0.10% 338,700 $8.3M No change
STZ Constellation Brands Inc. Class A 0.09% 58,900 $8.1M No change
EHC Encompass Health Corp. 0.09% 73,127 $7.8M Add +0.4%
VRTX Vertex Pharmaceuticals Inc. 0.09% 16,435 $7.5M Add +1.4%
FCX Freeport-McMoran Inc. 0.08% 140,719 $7.1M Reduce -1.6%
EFX Equifax Inc. 0.08% 32,760 $7.1M Reduce -50.5%
QLTY GMO U.S. Quality ETF 0.08% 183,547 $7.1M Add +783.0%
CMI Cummins Inc. 0.08% 13,781 $7.0M Reduce -24.4%
APD Air Products & Chemicals Inc. 0.08% 28,227 $7.0M Reduce -3.9%
SMG Scotts Miracle-Gro Co. 0.08% 112,598 $6.6M Add +0.7%
HAYW Hayward Holdings Inc. 0.08% 423,937 $6.5M Add +0.6%
SPYM Ste STR SPDR PT S&P 500 ETF 0.08% 81,327 $6.5M Reduce -16.7%
RLI Rli Corp. 0.07% 94,929 $6.1M Reduce -5.5%
CNM Core & Main Inc. Class A 0.07% 116,796 $6.1M Add +0.7%
PFE Pfizer Inc. 0.07% 242,132 $6.0M No change
ELV Elevance Health Inc. 0.06% 16,054 $5.6M Reduce -3.3%
HQY Healthequity Inc. 0.06% 60,938 $5.6M Add +0.4%
CL Colgate-Palmolive Co. 0.06% 70,437 $5.6M Reduce -4.3%
TCBI Texas Capital Bancshares Inc. 0.06% 60,996 $5.5M Add +9.4%
VUG Vanguard Mrngstar GR ETF-Sui 0.06% 10,964 $5.3M Reduce -16.9%
FISV Fiserv Inc. 0.06% 79,500 $5.3M Reduce -85.1%
FORM Formfactor Inc. 0.06% 95,562 $5.3M Reduce -36.1%
ENTG Entegris Inc. 0.06% 62,756 $5.3M Add +0.7%
OPCH Option Care Health Inc. 0.06% 163,684 $5.2M Add +0.6%
LVS Las Vegas Sands Corp. 0.06% 78,000 $5.1M Reduce -71.6%
AMT American Tower Corp. 0.06% 28,568 $5.0M Reduce -74.1%
IVV iShares Core S&P 500 ETF 0.06% 7,178 $4.9M Reduce -0.1%
WY Weyerhaeuser Co. 0.06% 207,000 $4.9M No change
BOX Box Inc. Class A 0.06% 162,911 $4.9M Add +0.6%
CAT Caterpillar Inc. 0.06% 8,366 $4.8M Reduce -56.5%
SHAK Shake Shack Inc. Class A 0.05% 58,404 $4.7M Add +37.3%
KN Knowles Corp. 0.05% 219,777 $4.7M Add +0.6%
TSM Taiwan Semiconductor-SP ADR 0.05% 15,293 $4.6M Reduce -14.1%
REGN Regeneron Pharmaceuticals 0.05% 5,969 $4.6M Reduce -2.3%
AXS Axis Capital Holdings Ltd. 0.05% 42,881 $4.6M Reduce -16.8%
WK Workiva Inc. 0.05% 53,138 $4.6M Add +0.7%
GOOGL Alphabet Inc. Class A 0.05% 14,511 $4.5M Reduce -2.2%
VOO Vanguard S&P 500 ETF 0.05% 7,163 $4.5M Reduce -0.3%
IEI iShares 3-7 Year Treasury Bo 0.05% 37,151 $4.4M Reduce -0.5%
VFC VF Corp. 0.05% 236,287 $4.3M Add +0.4%
NVDA Nvidia Corp. 0.05% 22,639 $4.2M Reduce -7.1%
CR Crane Co. 0.05% 22,296 $4.1M Add +0.6%
BABA Alibaba Group Holding-SP ADR 0.05% 27,444 $4.0M Reduce -3.9%
RVLV Revolve Group Inc. Class A 0.05% 129,686 $3.9M Add +0.4%
IQLT iShares MSCI International Q 0.04% 85,068 $3.9M Add +14.9%
PNGAY Ping An Insurance-ADR 0.04% 222,664 $3.7M Reduce -4.4%
AZN Astrazeneca PLC-Spons ADR 0.04% 40,584 $3.7M Reduce -3.8%
POWI Power Integrations Inc. 0.04% 103,843 $3.7M Add +0.7%
CCJ Cameco Corp. 0.04% 39,851 $3.6M Reduce -32.0%
CMCSA Comcast Corp. Class A 0.04% 120,521 $3.6M Reduce -75.8%
DRS Leonardo DRS Inc. 0.04% 105,538 $3.6M Add +0.7%
AAGIY Aia Group Ltd.-SP ADR 0.04% 86,499 $3.5M Reduce -4.5%
WMS Advanced Drainage Systems Inc. 0.04% 23,292 $3.4M Add +0.6%
EADSY Airbus SE - Unsp ADR 0.04% 57,958 $3.4M Add +6.5%
HDB HDFC Bank Ltd.-ADR 0.04% 91,380 $3.3M Reduce -3.9%
PLD Prologis Inc. 0.04% 25,655 $3.3M New
THG Hanover Insurance Group Inc./ 0.04% 17,915 $3.3M Add +0.7%
OSW Onespaworld Holdings Ltd. 0.04% 156,572 $3.2M Reduce -16.3%
AVGO Broadcom Inc. 0.04% 9,361 $3.2M Add +6.2%
GWW WW Grainger Inc. 0.04% 3,182 $3.2M Reduce -3.2%
AMGN Amgen Inc. 0.04% 9,797 $3.2M Add +32.8%
CTS CTS Corp. 0.04% 72,807 $3.1M Add +0.6%
CRL Charles River Laboratories 0.04% 15,622 $3.1M Add +26.3%
VIAV Viavi Solutions Inc. 0.03% 169,009 $3.0M New
CVLT Commvault Systems Inc. 0.03% 23,947 $3.0M Add +0.6%
SPMD SS SPDR P S&P 400 Midcap ETF 0.03% 51,395 $3.0M Reduce -3.1%
PUK Prudential PLC-ADR 0.03% 94,884 $3.0M Reduce -4.7%
SMPL The Simply Good Foods Co. 0.03% 144,519 $2.9M Add +0.7%
KIGRY Kion Group AG-Unsp ADR 0.03% 136,605 $2.7M Reduce -4.5%
WMMVY Walmart DE Mexico-Spon ADR V 0.03% 84,515 $2.6M Reduce -5.0%
BINV Brandes International ETF 0.03% 64,950 $2.6M Reduce -6.1%
ITUB Itau Unibanco H-Spon PRF ADR 0.03% 361,149 $2.6M Reduce -1.1%
OLLI Ollie's Bargain Outlet Holdi 0.03% 23,222 $2.5M Add +0.7%
MRK Merck & Co. Inc. 0.03% 23,918 $2.5M Reduce -6.3%
BWIN Baldwin Insurance Group Inc./ filed as THE BALDWIN INSURANCE GRP IN 0.03% 104,282 $2.5M Reduce -0.6%
VIG Vanguard Dividend Apprec ETF 0.03% 11,330 $2.5M Reduce -0.4%
IWR iShares Russell Mid-Cap ETF 0.03% 25,602 $2.5M Add +306.1%
META Meta Platforms Inc. Class A 0.03% 3,730 $2.5M Reduce -2.4%
TCEHY Tencent Holdings Ltd.-Uns ADR 0.03% 31,859 $2.4M Reduce -4.7%
HXL Hexcel Corp. 0.03% 32,944 $2.4M Add +46.5%
MWA Mueller Water Products Inc. Class A 0.03% 101,929 $2.4M Add +0.6%
MUFG Mitsubishi Ufj Finl-Spon ADR 0.03% 149,570 $2.4M Reduce -4.7%
PRMB Primo Brands Corp. 0.03% 144,435 $2.4M Add +0.7%
CHRD Chord Energy Corp. 0.03% 24,950 $2.3M Add +0.7%
EPC Edgewell Personal Care Co. 0.03% 135,035 $2.3M Add +0.7%
DTEGY Deutsche Telekom AG-Spon ADR 0.03% 69,870 $2.3M Reduce -4.6%
GTLB Gitlab Inc. Class A 0.03% 60,354 $2.3M New
SCCO Southern Copper Corp. 0.03% 15,755 $2.3M Reduce -4.1%
KRYAY Kerry Group PLC-Spons ADR 0.03% 24,750 $2.3M Reduce -7.0%
DSNKY Daiichi Sankyo Co.-Spon ADR 0.03% 105,074 $2.2M Add +1.8%
NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 0.03% 133,218 $2.2M Add +44.4%
LSRCY Lasertec Corp. - ADR Unsp 0.03% 58,717 $2.2M Reduce -4.7%
ADDYY Adidas AG-Sponsored ADR 0.03% 22,543 $2.2M Add +10.3%
SIEGY Siemens AG-Spons ADR 0.03% 15,813 $2.2M Reduce -4.6%
EXP Eagle Materials Inc. 0.03% 10,544 $2.2M Add +24.4%
SDY SS SPDR S&P Dividend ETF 0.03% 15,638 $2.2M Add +0.2%
DSMC Distillate S/M Cash Flow ETF 0.02% 60,500 $2.1M Reduce -14.9%
CXT Crane NXT Co. 0.02% 45,289 $2.1M Add +0.6%
PKW Invesco Buyback Achievers Et 0.02% 15,839 $2.1M Reduce -6.7%
INFY Infosys Ltd.-SP ADR 0.02% 117,830 $2.1M Reduce -4.0%
DQJCY Pan Pacific Intern-Unsp ADR 0.02% 176,268 $2.1M Add +139.0%
GMAB Genmab A/S -SP ADR 0.02% 66,491 $2.0M Add +8.1%
OLN Olin Corp. 0.02% 97,616 $2.0M Add +0.6%
SEZL Sezzle Inc. 0.02% 31,165 $2.0M Reduce -1.2%
TRYIY Toray Industries-Unspon ADR 0.02% 152,471 $2.0M Reduce -5.4%
XLE SS Energy Select Sector 0.02% 44,160 $2.0M Reduce -61.7%
SONY Sony Group Corp. - SP ADR 0.02% 74,432 $1.9M Reduce -29.1%
NHYDY Norsk Hydro As-Spons ADR 0.02% 237,919 $1.8M Reduce -3.9%
MRAAY Murata Manufactur-Unspon ADR 0.02% 177,556 $1.8M Reduce -4.4%
VCEL Vericel Corp. 0.02% 50,518 $1.8M New
CP Canadian Pacific Kansas City 0.02% 24,579 $1.8M Reduce -5.6%
SPGI S&P Global Inc. 0.02% 3,379 $1.8M Reduce -11.5%
WSC Willscot Holdings Corp. 0.02% 92,834 $1.7M Reduce -56.0%
SFGYY Sony Financial Group Inc.-ADR 0.02% 333,536 $1.7M New
SCBFY Standard Chartered- Unsp ADR 0.02% 34,846 $1.7M Reduce -4.5%
KO The Coca-Cola Co. 0.02% 24,388 $1.7M Add +148.2%
CABGY Carlsberg As-B-Spon ADR 0.02% 64,748 $1.7M Reduce -4.5%
SAP Sap SE-Sponsored ADR 0.02% 6,810 $1.7M Add +18.7%
FNDX Schwab Fndmntl US LRG Co. ETF 0.02% 60,771 $1.7M No change
AAON Aaon Inc. 0.02% 21,363 $1.6M New
FMX Fomento Economico Mex-SP ADR 0.02% 15,822 $1.6M Reduce -3.6%
NXPI NXP Semiconductors NV 0.02% 7,334 $1.6M Reduce -3.9%
DLTH Duluth Holdings Inc. Class B 0.02% 762,777 $1.6M No change
NICE Nice Ltd. - Spon ADR 0.02% 13,988 $1.6M Add +46.6%
YUMC Yum China Holdings Inc. 0.02% 32,276 $1.5M Reduce -3.8%
XSHQ Invesco S&P Smallcap Quality 0.02% 36,338 $1.5M Reduce -86.2%
SXYAY Sika AG-ADR 0.02% 73,238 $1.5M Add +8.8%
RACE Ferrari NV 0.02% 3,867 $1.4M Add +18.1%
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.02% 17,052 $1.4M Reduce -5.1%
LZAGY Lonza Group AG-Unspon ADR 0.02% 20,934 $1.4M Reduce -4.5%
IWM iShares Russell 2000 ETF 0.02% 5,686 $1.4M No change
STT State Street Corp. 0.02% 10,684 $1.4M New
PRDSY Prada S.P.A.-Unsp ADR 0.02% 119,045 $1.4M Reduce -8.3%
SLB SLB Ltd. filed as SLB LIMITED 0.02% 34,649 $1.3M New
MIR Mirion Technologies Inc. 0.02% 56,644 $1.3M New
GMED Globus Medical Inc. Class A 0.02% 15,151 $1.3M Reduce -43.4%
TOELY Tokyo Electron Ltd.-Unsp ADR 0.02% 11,885 $1.3M New
AEM Agnico Eagle Mines Ltd. 0.01% 7,603 $1.3M Reduce -33.2%
WIZEY Wise PLC - Spon ADR 0.01% 103,503 $1.3M Reduce -9.4%
SYIEY Symrise AG-Unspon ADR 0.01% 62,100 $1.2M Add +20.6%
SHECY Shin-Etsu Chem-Unspon ADR 0.01% 79,785 $1.2M Reduce -6.3%
ALL Allstate Corp. 0.01% 5,909 $1.2M Reduce -1.0%
IWF iShares Russell 1000 Growth 0.01% 2,440 $1.2M No change
AIQUY Air Liquide-Unsponsored ADR 0.01% 30,512 $1.1M Reduce -4.8%
HESAY Hermes Intl-Unsponsored ADR 0.01% 4,547 $1.1M Reduce -8.2%
SHEL Shell PLC-ADR 0.01% 14,929 $1.1M Reduce -4.1%
WFC Wells Fargo & Co. 0.01% 11,621 $1.1M Reduce -0.9%
LUMN Lumen Technologies Inc. 0.01% 124,000 $963K No change
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.01% 3,118 $905K Add +320.2%
AMPL Amplitude Inc. Class A 0.01% 78,000 $903K New
GRMN Garmin Ltd. 0.01% 4,384 $889K No change
GD General Dynamics Corp. 0.01% 2,630 $885K No change
RSP Invesco S&P 500 Equal Weight 0.01% 4,477 $858K New
IEFA iShares Core MSCI Eafe ETF 0.01% 9,246 $827K Add +6.9%
MA Mastercard Inc. Class A 0.01% 1,447 $826K Reduce -5.9%
IWB iShares Russell 1000 ETF 0.01% 2,205 $823K Add +29.6%
INTU Intuit Inc. 0.01% 1,200 $795K No change
VB Vanguard Most SM-Cap ETF-Usd 0.01% 2,945 $760K Reduce -1.3%
WM Waste Management Inc. 0.01% 3,275 $720K No change
COF Capital One Financial Corp. 0.01% 2,897 $702K No change
BCD Abrdn Bloomberg All Commodit filed as ABRDN ETFS 0.01% 21,646 $670K Add +89.9%
ACWX iShares MSCI Acwi Ex US ETF 0.01% 9,887 $664K New
PRU Prudential Financial Inc. 0.01% 5,686 $642K New
ATI Ati Inc. 0.01% 5,500 $631K Reduce -35.3%
CSCO Cisco Systems Inc. 0.01% 8,097 $624K No change
TRV The Travelers Cos Inc. 0.01% 2,126 $617K Reduce -21.0%
SCHF Schwab Intl Equity ETF 0.01% 25,380 $610K Add +0.9%
MKL Markel Group Inc. 0.01% 279 $600K No change
BBJP JPMorgan Betabuilders Japan 0.01% 8,411 $554K Reduce -27.6%
IEMG iShares Core MSCI Emerging 0.01% 7,898 $531K New
VZ Verizon Communications Inc. 0.01% 12,826 $522K New
IUSG iShares Core S&P U.S. Growth 0.01% 2,967 $498K Reduce -22.2%
GILD Gilead Sciences Inc. 0.01% 4,000 $491K No change
QUAL iShares MSCI USA Quality Fac 0.01% 2,309 $459K No change
IWP iShares Russell Mid-Cap Grow 0.00% 3,078 $422K No change
LNT Alliant Energy Corp. 0.00% 6,431 $418K No change
AIQ Global X Art Intel & Tech 0.00% 8,173 $416K No change
AFL Aflac Inc. 0.00% 3,326 $367K Reduce -65.0%
NSRGY Nestle SA-Spons ADR 0.00% 3,640 $360K Reduce -9.7%
WMT Walmart Inc. 0.00% 3,176 $354K No change
MBB iShares MBS ETF 0.00% 3,519 $335K No change
IWO iShares Russell 2000 Growth 0.00% 1,032 $333K No change
TFLO iShares Treasury Floating Ra 0.00% 6,579 $332K Reduce -30.5%
VWO Vanguard Ftse Emerging Marke 0.00% 5,851 $315K No change
TGT Target Corp. 0.00% 3,117 $305K Reduce -8.2%
JUST Goldman Sachs Just US LRG 0.00% 2,916 $282K New
NUE Nucor Corp. 0.00% 1,723 $281K Reduce -2.2%
IBIT iShares Bitcoin Trust ETF 0.00% 5,375 $267K Add +46.3%
BX Blackstone Inc. 0.00% 1,721 $265K No change
J Jacobs Solutions Inc. 0.00% 1,885 $250K Reduce -0.1%
MGEE Mge Energy Inc. 0.00% 3,138 $246K No change
QQQ Invesco QQQ Trust Series 1 0.00% 400 $246K Add +0.5%
CSX CSX Corp. 0.00% 6,188 $224K Reduce -10.2%
PM Philip Morris International 0.00% 1,393 $223K No change
BMO Bank of Montreal filed as BANK MONTREAL QUE 0.00% 1,702 $221K No change
RTX RTX Corp. 0.00% 1,139 $209K Reduce -21.7%
AWI Armstrong World Industries 0.00% 1,091 $209K Reduce -7.3%
AXP American Express Co. 0.00% 556 $206K New
BMY Bristol-Myers Squibb Co. 0.00% 3,712 $200K New

Options reported separately and not counted above: HON calls ($6.8M).

Portfolio Sells Q3 2025 → Q4 2025

APH Amphenol Corp. Class A Reduce -45.1% 2.09% −1.25
TREX Trex Company Inc. Sold out 0.00% −1.08
MCHP Microchip Technology Inc. Reduce -89.7% 0.12% −1.01
FISV Fiserv Inc. Reduce -85.1% 0.06% −0.70
CDW CDW Corp. Reduce -10.9% 1.81% −0.47
CPRT Copart Inc. Reduce -9.7% 1.83% −0.40
FND Floor & Decor Holdings Inc. Class A Reduce -14.2% 0.99% −0.35
NKE Nike Inc. Class B Reduce -67.7% 0.15% −0.34
LBRDK Liberty Broadband-C Reduce -11.0% 0.66% −0.27
BRO Brown & Brown Inc. Reduce -1.1% 1.82% −0.26
LH Labcorp Holdings Inc. Reduce -5.4% 1.52% −0.24
ORCL Oracle Corp. Reduce -22.3% 0.30% −0.23
TDY Teledyne Technologies Inc. Reduce -5.3% 1.24% −0.20
AMT American Tower Corp. Reduce -74.1% 0.06% −0.18
WRB WR Berkley Corp. Reduce -5.8% 1.39% −0.16
CMCSA Comcast Corp. Class A Reduce -75.8% 0.04% −0.13
PGR Progressive Corp. Reduce -7.6% 0.96% −0.12
TXN Texas Instruments Inc. Reduce -6.5% 1.35% −0.12
IT Gartner Inc. Reduce -5.7% 1.96% −0.11
KNSL Kinsale Capital Group Inc. Reduce -12.0% 0.62% −0.11
BAM Brookfield Asset Mgmt-A Reduce -5.6% 1.09% −0.11
XSHQ Invesco S&P Smallcap Quality Reduce -86.2% 0.02% −0.11
FWONK Liberty Media Corp. Class C Reduce -8.0% 1.01% −0.11
EFX Equifax Inc. Reduce -50.5% 0.08% −0.11
LVS Las Vegas Sands Corp. Reduce -71.6% 0.06% −0.10
COP Conocophillips Reduce -46.9% 0.13% −0.10
ANET Arista Networks Inc. Reduce -2.3% 1.07% −0.10
CSL Carlisle Cos Inc. Reduce -6.5% 1.75% −0.10
MRSH Marsh & McLennan Cos Reduce -9.2% 0.62% −0.09
LOW Lowe's Cos Inc. Reduce -7.9% 1.04% −0.09
ABG Asbury Automotive Group Reduce -7.5% 0.93% −0.08
FERG Ferguson Enterprises Inc. Reduce -10.2% 1.02% −0.08
MSCI MSCI Inc. Reduce -21.5% 0.37% −0.08
SBUX Starbucks Corp. Reduce -20.2% 0.36% −0.07
GBCI Glacier Bancorp Inc. Reduce -5.5% 0.50% −0.06
DSTL Distillate US Fundamental St Reduce -13.5% 0.64% −0.06
BN Brookfield Corp. Reduce -10.9% 0.79% −0.06
HD Home Depot Inc. Reduce -1.3% 0.37% −0.05
CVRD Madison Covered Call ETF Reduce -14.5% 0.40% −0.05
CFLT Confluent Inc. Class A Sold out 0.00% −0.05
CIEN Ciena Corp. Sold out 0.00% −0.05
MC Moelis & Co. Class A Reduce -5.2% 0.96% −0.05
CAT Caterpillar Inc. Reduce -56.5% 0.06% −0.05
WAL Western Alliance Bancorp Sold out 0.00% −0.05
JNJ Johnson & Johnson Reduce -22.8% 0.37% −0.04
CCOI Cogent Communications Holdin Sold out 0.00% −0.04
XLE SS Energy Select Sector Reduce -61.7% 0.02% −0.03
IGIB iShares 5-10Y Inv Grade Corp. Reduce -20.5% 0.15% −0.03
EOG EOG Resources Inc. Reduce -19.5% 0.11% −0.03
WSC Willscot Holdings Corp. Reduce -56.0% 0.02% −0.03

Portfolio Buys Q3 2025 → Q4 2025

MSA Msa Safety Inc. New 1.05% +1.05
AOS Smith (a.o.) Corp. New 0.93% +0.93
TTAN Servicetitan Inc. Class A New 0.78% +0.78
HON Honeywell International Inc. Add +123.6% 0.79% +0.42
MDY State Street SPDR S&P Midcap Add +246.4% 0.58% +0.42
TECH Bio-Techne Corp. Add +58.6% 0.80% +0.34
LLY Eli Lilly & Co. Add +3.5% 0.75% +0.26
WDAY Workday Inc. Class A New 0.23% +0.23
QCOM Qualcomm Inc. Add +85.7% 0.40% +0.20
VFLO Victoryshares Free Cash Flow Add +336.6% 0.20% +0.16
EMLC Vaneck JPM Em Local Curr BND New 0.15% +0.15
CRM Salesforce Inc. New 0.14% +0.14
XOM Exxon Mobil Corp. Add +60.6% 0.31% +0.14
IJR iShares Core S&P Small-Cap E Add +55.6% 0.34% +0.13
SBGSY Schneider Elect SE-Unsp ADR New 0.13% +0.13
MSFT Microsoft Corp. Add +16.1% 1.10% +0.13
CVX Chevron Corp. Add +32.3% 0.28% +0.07
QLTY GMO U.S. Quality ETF Add +783.0% 0.08% +0.07
NEE Nextera Energy Inc. Add +0.5% 0.63% +0.07
AAPL Apple Inc. Add +0.1% 0.61% +0.06
MCD McDonald's Corp. Add +68.2% 0.15% +0.06
VEU Vanguard Ftse All-World Ex-U Add +7.4% 0.42% +0.06
ASML ASML Holding NV-NY Reg SHS Add +21.0% 0.19% +0.05
JPM JPMorgan Chase & Co. Add +4.0% 0.51% +0.05
PLD Prologis Inc. New 0.04% +0.04
MDT Medtronic PLC Add +15.0% 0.22% +0.04
ADBE Adobe Inc. Add +31.1% 0.14% +0.04
VIAV Viavi Solutions Inc. New 0.03% +0.03
PG The Procter & Gamble Co. Add +36.8% 0.14% +0.03
CME Cme Group Inc. Add +4.9% 0.35% +0.03
FAST Fastenal Co. Add +46.4% 0.17% +0.03
USB US Bancorp Add +19.5% 0.12% +0.03
IJH iShares Core S&P Midcap ETF Add +7.7% 0.23% +0.03
GTLB Gitlab Inc. Class A New 0.03% +0.03
AGG iShares Core U.S. Aggregate Add +4.2% 0.28% +0.02
IWR iShares Russell Mid-Cap ETF Add +306.1% 0.03% +0.02
VCEL Vericel Corp. New 0.02% +0.02
SFGYY Sony Financial Group Inc.-ADR New 0.02% +0.02
AAON Aaon Inc. New 0.02% +0.02
VV Vngrd Mrgstr LRG-Cap ETF-Usd Add +3.7% 0.18% +0.02
ABT Abbott Laboratories Add +16.5% 0.14% +0.02
STT State Street Corp. New 0.02% +0.02
VRTX Vertex Pharmaceuticals Inc. Add +1.4% 0.09% +0.02
ECL Ecolab Inc. Add +8.7% 0.19% +0.02
MIR Mirion Technologies Inc. New 0.02% +0.02
SLB SLB Ltd. New 0.02% +0.02
TOELY Tokyo Electron Ltd.-Unsp ADR New 0.02% +0.02
RVLV Revolve Group Inc. Class A Add +0.4% 0.05% +0.01
CRL Charles River Laboratories Add +26.3% 0.04% +0.01
AMGN Amgen Inc. Add +32.8% 0.04% +0.01

Options Activity Q3 2025 → Q4 2025

HON Honeywell International Inc. call New 35,100 $6.8M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

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