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Madison Asset Management, LLC

CIK:0001299351
Asset Manager
$5B AUM
338 holdings
Madison, WI, US
Founded:1974
94 employees
madisoninvestments.com
Latest filing:Jun 30, 2025

Madison Asset Management, LLC is an asset management firm headquartered in Madison, Wisconsin, specializing in risk-sensitive investment strategies across bond and equity markets. The firm is part of the Madison Investments group, founded in 1974, and serves a broad client base including institutional funds, pension accounts, foundations, corporations, municipalities, insurance companies, and individual investors. Madison Asset Management currently employs approximately 94–95 people.

Investment Strategy

Madison Asset Management pursues a 'Participate and Protect'® investment philosophy, aiming for consistent returns while seeking to limit portfolio risk. Their approach emphasizes active management in bond and equity strategies, focusing on risk control alongside market participation. The firm manages both wrap fee and non-wrap accounts, tailoring strategies for institutional and individual clients through a disciplined, risk-sensitive process.

Latest 13F Filing Activity

Madison Asset Management, LLC filed their most recent 13F report on Jun 30, 2025 disclosing 328 equity positions with a total 13F market value of $9B. The fund increased holdings in CDW Corp/de, Medpace Holdings Inc., Amphenol Corp. among other positions. Madison Asset Management, LLC reduced exposure to Dollar Tree Inc., Berkshire Hathaway Inc., Brown-forman Corp. among others.

Top Buys
C
CDWCDW Corp/DE
+$102.5M
M
MEDPMedpace Holdings Inc
+$90.3M
A
APHAmphenol Corp
+$77.7M
A
ANETArista Networks Inc
+$73.3M
I
ITGartner Inc
+$52.3M
Top Sells
D
DLTRDollar Tree Inc
-$128.3M
B
BRK-BBerkshire Hathaway Inc
-$109.9M
B
BF-BBrown-Forman Corp
-$64.0M
C
CPRTCopart Inc
-$38.0M
G
GOOGAlphabet Inc
-$38.0M

Top Holdings

A
ACGLArch Capital Group Ltd
+4.7%$439.3M
I
ITGartner Inc
+3.1%$284.1M
A
APHAmphenol Corp
+2.6%$244.7M
P
PCARPACCAR Inc
+2.6%$239.3M
C
CDWCDW Corp/DE
+2.6%$236.5M

Equity Positions (328)

TickerSecurityWeightMarket ValueSharesAvg CostPriceChange (QoQ)
A
ACGL
Arch Capital Group Ltd4.74%$439.3M4,825,235$57.26$91.05-$25.9M
I
IT
Gartner Inc3.07%$284.1M702,813$298.23$404.22+$52.3M
A
APH
Amphenol Corp2.64%$244.7M2,478,319$41.86$98.75+$77.7M
P
PCAR
PACCAR Inc2.58%$239.3M2,517,149$68.48$95.06-$10.9M
C
CDW
CDW Corp/DE2.55%$236.5M1,324,521$172.73$178.59+$102.5M

Industry Allocation

FIRE, MARINE & CASUALTY INSURANCE
+8.7%
RETAIL-AUTO DEALERS & GASOLINE STATIONS
+4.4%
RETAIL-CATALOG & MAIL-ORDER HOUSES
+4.4%
SEMICONDUCTORS & RELATED DEVICES
+4.3%
INDUSTRIAL INSTRUMENTS FOR MEASUREMENT, DISPLAY, AND CONTROL
+3.7%

Investment Team (20)

NameRoleLocationLinkedIn
Alan Shepard
Alan Shepard		Vice President and Portfolio ManagerMadison, WI , United States
Andy Romanowich
Andy Romanowich		Portfolio ManagerMadison, WI , United States
D
Dave Geisler		Portfolio ManagerMiddleton, WI , United States
Douglas Fry
Douglas Fry		Portfolio ManagerMilwaukee, WI , United States
Drew Justman
Drew Justman		Portfolio ManagerMadison, WI , United States
H
Haruki Toyama		Head of Large Cap and Mid Cap Equity, Portfolio Manager and AnalystMadison, WI , United States
J
Jeffrey Matthias		Vice President, Portfolio Manager and StrategistMadison, WI , United States
John Brown
John Brown		Portfolio ManagerMadison, WI , United States
Joseph Maginot
Joseph Maginot		Large Cap Portfolio Manager and AnalystUnited States
M
Marian Quade		Vice President and Senior Portfolio ManagerWaunakee, WI , United States
Showing 1-10 of 20 team members