Madison Asset Management, LLC Q2 2025 Filing

Filed August 11, 2025

Portfolio Value

$9.3T

Holdings

338

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (338 positions)

#StockSharesValue% PortfolioType
1
ACGLArch Capital Group Ltd
4,825,235$439.3B4.74%
2
ITGartner Inc
702,813$284.1B3.07%
3
APHAmphenol Corp
2,478,319$244.7B2.64%
4
PCARPACCAR Inc
2,517,149$239.3B2.58%
5
CDWCDW Corp/DE
1,324,521$236.5B2.55%
6
BROBrown & Brown Inc
2,042,286$226.4B2.45%
7
CPRTCopart Inc
4,590,422$225.3B2.43%
8
ROSTRoss Stores Inc
1,659,087$211.7B2.29%
9
CSLCarlisle Cos Inc
516,436$192.8B2.08%
10
LBRDKLiberty Broadband Corp
1,768,132$173.9B1.88%
11
GOOGAlphabet Inc
943,146$167.3B1.81%
12
AMZNAmazon.com Inc
746,067$163.7B1.77%
13
TXNTexas Instruments Inc
763,621$158.5B1.71%
14
LHLabcorp Holdings Inc Com Usd0.
570,807$149.8B1.62%
15
MKSIMKS Inc
1,463,683$145.4B1.57%
16
WRBWR Berkley Corp
1,853,872$136.2B1.47%
17
VVisa Inc
360,027$127.8B1.38%
18
ANETArista Networks Inc
1,222,347$125.1B1.35%
19
FNDFloor & Decor Holdings Inc
1,627,820$123.6B1.34%
20
TDYTeledyne Technologies Inc
225,111$115.3B1.25%
21
DHRDanaher Corp Com Usd0.01
574,252$113.4B1.23%
22
MCHPMicrochip Technology Inc
1,608,160$113.2B1.22%
23
PGRProgressive Corp
412,608$110.1B1.19%
24
WATWaters Corp
312,259$109.0B1.18%
25
BAMBrookfield Asset Management Lt
1,926,784$106.5B1.15%
26
FWONALiberty Media Corp-Liberty For
985,188$103.0B1.11%
27
FISVFiserv Inc
595,345$102.6B1.11%
28
TREXTrex Co Inc
1,871,054$101.7B1.10%
29
SPHQInvesco S&P 500 Quality ETF
1,407,188$100.3B1.08%
30
FERGFerguson Enterprises Inc
460,220$100.2B1.08%
31
THOThor Industries Inc
1,113,378$98.9B1.07%
32
ADIAnalog Devices Inc
406,066$96.7B1.04%
33
LADLithia Motors Inc
284,804$96.2B1.04%
34
LOWLowe's Cos Inc
431,683$95.8B1.03%
35
MEDPMedpace Holdings Inc
297,048$93.2B1.01%
36
ACNAccenture PLC
303,237$90.6B0.98%
37
AWGAsbury Automotive Group Inc
378,519$90.3B0.98%
38
KEYSKeysight Technologies Inc
531,069$87.0B0.94%
39
PHParker-Hannifin Corp
120,401$84.1B0.91%
40
MCMoelis & Co
1,295,284$80.7B0.87%
41
KNSLKinsale Capital Group Inc
163,974$79.3B0.86%
42
AG8Agilent Technologies Inc
667,908$78.8B0.85%
43
JMBSJanus Henderson Mortgage-Backe
1,726,547$77.8B0.84%
44
SCHWCharles Schwab Corp/The
841,082$76.7B0.83%
45
ALCAlcon Inc
867,101$76.5B0.83%
46
MSFTMicrosoft Corp
152,923$76.1B0.82%
47
BNBrookfield Corp
1,169,057$72.3B0.78%
48
MRSHMarsh & McLennan Cos Inc
312,379$68.3B0.74%
49
MSTIMadison Short-Term Strategic I
3,083,424$63.6B0.69%
50
EXPDExpeditors International of Wa
553,722$63.3B0.68%
51
DSTLDistillate US Fundamental Stab
1,115,963$61.8B0.67%
52
TJXTJX Cos Inc
495,974$61.2B0.66%
53
MAGGMadison Aggregate Bond ETF
2,811,220$57.3B0.62%
54
ELVElevance Health Inc
143,353$55.8B0.60%
55
DIVLMadison Dividend Value ETF
2,503,742$55.5B0.60%
56
DEDeere & Co
108,503$55.2B0.60%
57
CFRCullen/Frost Bankers Inc
381,179$49.0B0.53%
58
NEENextEra Energy Inc
688,473$47.8B0.52%
59
GBCIGlacier Bancorp Inc
1,055,415$45.5B0.49%
60
SBUXStarbucks Corp
488,092$44.7B0.48%
61
LLYEli Lilly & Co
55,688$43.4B0.47%
62
GGGGraco Inc
504,339$43.4B0.47%
63
FWONALiberty Media Corp-Liberty For
454,863$43.2B0.47%
64
CVRDMadison Covered Call ETF
2,298,594$42.7B0.46%
65
JPMJPMorgan Chase & Co
143,220$41.5B0.45%
66
ORCLOracle Corp
189,697$41.5B0.45%
67
VGTVanguard Information Technolog
58,846$39.0B0.42%
68
BLKBlackrock Inc
37,146$39.0B0.42%
69
AAPLApple Inc
185,412$38.0B0.41%
70
HDHome Depot Inc
97,549$35.8B0.39%
71
ABNBAirbnb Inc
259,096$34.3B0.37%
72
HONHoneywell International Inc
146,526$34.1B0.37%
73
AMTAmerican Tower Corp
147,007$32.5B0.35%
74
EEMAiShares MSCI Emerging Markets
373,592$30.8B0.33%
75
SCHRSchwab Intermediate-Term U.S.
1,207,518$30.2B0.33%
76
SPYSPDR S&P 500 ETF Trust
48,909$30.2B0.33%
77
NKENIKE Inc
416,597$29.6B0.32%
78
JNJJohnson & Johnson
186,461$28.5B0.31%
79
COSTCostco Wholesale Corp
27,932$27.7B0.30%
80
SPHYSPDR Portfolio High Yield Bond
1,151,255$27.4B0.30%
81
TELTE Connectivity PLC
157,639$26.6B0.29%
82
ADPAutomatic Data Processing Inc
82,348$25.4B0.27%
83
VEUVanguard FTSE All-World ex-US
375,448$25.2B0.27%
84
AGGiShares Core U.S. Aggregate Bo
242,014$24.0B0.26%
85
MDTMedtronic PLC
262,800$22.9B0.25%
86
ADBEAdobe Inc
58,122$22.5B0.24%
87
CMECME Group Inc
76,980$21.2B0.23%
88
VGKVanguard FTSE Europe ETF
269,918$20.9B0.23%
89
PEPPepsiCo Inc
157,263$20.8B0.22%
90
DWDMorgan Stanley
146,288$20.6B0.22%
91
COPConocoPhillips
228,467$20.5B0.22%
92
KBESPDR S&P Bank ETF
361,338$20.1B0.22%
93
LINLinde PLC
42,769$20.1B0.22%
94
EZUiShares MSCI Eurozone ETF
331,826$19.7B0.21%
95
IQLTiShares MSCI International Qua
441,348$19.1B0.21%
96
IJRiShares Core S&P Small-Cap ETF
173,020$18.9B0.20%
97
BRK/BBerkshire Hathaway Inc
38,756$18.8B0.20%
98
CVXChevron Corp
126,708$18.1B0.20%
99
IJHiShares Core S&P Mid-Cap ETF
288,286$17.9B0.19%
100
CMCSAComcast Corp
489,973$17.5B0.19%
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