1y return+6.8%S&P 500 +20.9%
3y return+29.0%S&P 500 +68.5%
5y return+27.5%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2019: $157 against $232 in the S&P 500.2
Madison Asset Management, LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| Arch Capital Group LtdCUSIP G0450A105 | $368.8M | 4.4% | −6.8% |
| GOOGAlphabet Inc | $215.6M | 2.6% | −3.1% |
| APHAmphenol Corp | $207.4M | 2.5% | −6.0% |
| ROSTRoss Stores Inc | $188.7M | 2.3% | −37.2% |
| PCARPACCAR Inc | $177.6M | 2.1% | −6.7% |
| TXNTexas Instruments Inc | $171.6M | 2.0% | −5.4% |
| AMZNAmazon.com Inc | $156.4M | 1.9% | −1.6% |
| CSLCarlisle Cos Inc | $152.9M | 1.8% | −7.1% |
| CDWCDW Corp/DE | $150.6M | 1.8% | −3.1% |
| MKSIMKS Inc | $140.9M | 1.7% | −6.4% |
| KEYSKeysight Technologies Inc | $139.4M | 1.7% | −5.9% |
| BROBrown & Brown Inc | $138.6M | 1.7% | −6.4% |
| LHLabcorp Holdings Inc | $133.5M | 1.6% | −2.8% |
| VVisa Inc | $131.3M | 1.6% | −1.8% |
| MEDPMedpace Holdings Inc | $129.0M | 1.5% | −7.2% |
| ADIAnalog Devices Inc | $124.4M | 1.5% | −7.2% |
| TDYTeledyne Technologies Inc | $122.6M | 1.5% | −7.4% |
| MSAMSA Safety Inc | $115.3M | 1.4% | +12.2% |
| CPRTCopart Inc | $113.1M | 1.3% | +3.2% |
| MCMoelis & Co | $109.1M | 1.3% | −6.0% |
| WRBWR Berkley Corp | $105.6M | 1.3% | −7.5% |
| WATWaters Corp | $105.0M | 1.3% | +2.6% |
| AOSA O Smith Corp | $92.0M | 1.1% | +28.4% |
| FWONKLiberty Media Corp-Liberty For | $91.7M | 1.1% | −9.9% |
| PHParker-Hannifin Corp | $86.4M | 1.0% | −5.1% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| APHAmphenol Corp | June 30, 2020 | +636.1% | $207.4M |
| GOOGAlphabet Inc | June 30, 2020 | +399.9% | $215.6M |
| Arch Capital Group LtdCUSIP G0450A105 | June 30, 2020 | +238.8% | $368.8M |
| ADIAnalog Devices Inc | June 30, 2020 | +223.9% | $124.4M |
| PHParker-Hannifin Corp | December 31, 2021 | +207.5% | $86.4M |
| CSLCarlisle Cos Inc | June 30, 2020 | +203.1% | $152.9M |
| PGRProgressive Corp | June 30, 2020 | +172.7% | $73.9M |
| MKSIMKS Inc | December 31, 2021 | +155.4% | $140.9M |
| SPHQInvesco S&P 500 Quality ETF | June 30, 2020 | +154.4% | $84.4M |
| ROSTRoss Stores Inc | June 30, 2020 | +149.7% | $188.7M |
Sold off last quarter
- Honeywell International IncCUSIP 438516106 was $69.4M
- Liberty Broadband CorpCUSIP 530307305 was $59.8M
- Exxon Mobil CorpCUSIP 30231G102 was $36.0M
- EFXEquifax Inc was $12.6M
- INTUIntuit Inc was $10.9M
- MCHPMicrochip Technology Inc was $9.5M
- EZUiShares MSCI Eurozone ETF was $5.2M
- OPCHOption Care Health Inc was $4.4M
- BABAAlibaba Group Holding Ltd - Sp was $3.6M
- SMPLSimply Good Foods Co/The was $2.1M
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +7.7% | +14.8% |
| March 31, 2026 | −2.8% | −4.6% |
| December 31, 2025 | +0.3% | +2.4% |
| September 30, 2025 | +1.7% | +7.8% |
| June 30, 2025 | +4.5% | +10.5% |
| March 31, 2025 | −3.0% | −4.6% |
| December 31, 2024 | −2.0% | +2.1% |
| September 30, 2024 | +6.6% | +5.4% |
| June 30, 2024 | −1.8% | +4.0% |
| March 31, 2024 | +8.1% | +10.0% |
| December 31, 2023 | +10.5% | +11.2% |
| September 30, 2023 | −2.8% | −3.6% |
| June 30, 2023 | +5.2% | +8.3% |
| March 31, 2023 | +3.2% | +7.0% |
| December 31, 2022 | +8.6% | +7.1% |
| September 30, 2022 | −5.9% | −5.3% |
| June 30, 2022 | −12.1% | −16.5% |
| March 31, 2022 | −5.3% | −4.9% |
| December 31, 2021 | +8.0% | +10.7% |
| September 30, 2021 | −1.0% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Madison Asset Management, LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1299351&type=13F-HR&dateb=&owner=include&count=40CIK 1299351
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1299351/000195488926000022/Filed August 10, 2026 · accession 0001954889-26-000022