Madison Asset Management portfolio

What changed this quarter

244 positions with a change (15 new, 87 added to, 123 trimmed, 19 sold); also, 2 entered through an IPO, 1 exited through an acquisition or merger, 1 entered through a spin-off. 4 are listed here: those of 0.5 points of the portfolio or more (up to 12).

• Ross Stores−37%fewer sharesReduced
  3.8% → 2.3%
• Arista Networks−74%fewer sharesReduced
  1.0% → 0.4%
• Verisk Analytics+0.9 ppof portfolioNew
  — → 0.9%
• Liberty Broadband−0.7 ppof portfolioSold out
  0.7% → —

The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight?: what it bought or sold, excluding price effects.

Top holdings

• Arch Capital GroupACGL4.4%
• AlphabetGOOG2.6%
• AmphenolAPH2.5%
• Ross StoresROST2.3%
• PaccarPCAR2.1%
• Texas InstrumentsTXN2.0%
• Amazon.comAMZN1.9%
• Carlisle CompaniesCSL1.8%
• CDWCDW1.8%
• MKSMKSI1.7%
• Keysight TechnologiesKEYS1.7%
• Brown & BrownBRO1.7%
• Labcorp HoldingsLH1.6%
• Liberty MediaFWONK · FWONA1.6%
• VisaV1.6%
• Medpace HoldingsMEDP1.5%
• Analog DevicesADI1.5%
• Teledyne TechnologiesTDY1.5%
• MSA SafetyMSA1.4%
• CopartCPRT1.3%
• MoelisMC1.3%
• Berkley W RWRB1.3%
• WatersWAT1.3%
• A. O. SmithAOS1.1%
• Parker-hannifinPH1.0%
• DanaherDHR1.0%
• Ferguson EnterprisesFERG1.0%
• Invesco Exchange Traded Fund TSPHQ1.0%
• Agilent TechnologiesA1.0%
• MicrosoftMSFT1.0%
• Floor & Decor HoldingsFND0.9%
• Charles SchwabSCHW0.9%
• Bio-techneTECH0.9%
• GartnerIT0.9%
• ProgressivePGR0.9%
• Expeditors International of WashingtonEXPD0.9%
• Verisk AnalyticsVRSK0.9%
• Brookfield Asset ManagementBAM0.8%
• Lowe'sLOW0.8%
• Lithia MotorsLAD0.8%
• Eli LillyLLY0.8%
• THOR IndustriesTHO0.8%
• TJXTJX0.8%
• Nextera EnergyNEE0.8%
• Vanguard International Equity Index FVEU0.8%
• Cullen/Frost BankersCFR0.7%
• Asbury Automotive GroupABG0.7%
• Glacier BancorpGBCI0.7%
• AppleAAPL0.7%
• Marsh & Mclennan CompaniesMRSH0.7%
• ServiceTitanTTAN0.7%
• BrookfieldBN0.7%
• Madison Aggregate Bond ETFMAGG0.6%
• Madison Dividend Value ETFDIVL0.6%
• Janus Henderson Mortg Backed ETFJMBS0.6%
• Honeywell AerospaceHONA0.6%
• JPMorgan ChaseJPM0.6%
• GracoGGG0.6%
• Victory Portfolios IIVFLO0.5%
• Meta PlatformsMETA0.5%
• AirbnbABNB0.5%
• Madison Shrt TRM Str Inc ETFMSTI0.5%
• BroadcomAVGO0.5%
• Honeywell InternationalHON0.5%
• Vanguard Info Tech ETFVGT0.5%
• State Str Spdr S&P 500 ETF TSPY0.5%
• Kinsale Capital GroupKNSL0.5%
• Bentley SystemsBSY0.5%
• Tyler TechnologiesTYL0.5%
• Intercontinental ExchangeICE0.5%
• MSCIMSCI0.5%
• DeereDE0.5%
• iShares Core S&P Small-cap E ETFIJR0.4%
• Johnson & JohnsonJNJ0.4%
• ETF SER SolutionsDSTL0.4%
• Home DepotHD0.4%
• Costco WholesaleCOST0.4%
• iShares 5-10y INV Grade ETFIGIB0.4%
• Madison Covered Call ETFCVRD0.4%
• QualcommQCOM0.4%
• J P Morgan Exchange Traded FundJIRE0.4%
• Arista NetworksANET0.4%
• iShares Core S&P Midcap ETFIJH0.4%
• iShares Core S&P U.s. Growth ETFIUSG0.3%
• Exxon MobilXOM0.3%
• TE ConnectivityTEL0.3%
• BlackRockBLK0.3%
• LindeLIN0.3%
• ChevronCVX0.3%
• Vaneck ETF TrustEMLC0.3%
• State Street SPDR P High Yield ETFSPHY0.3%
• American Centy ETF TrAVEM0.3%
• Colgate-palmoliveCL0.3%
• State Str Spdr S&P Midcap 40MDY0.3%
• iShares Core U.s. Aggregate ETFAGG0.3%
• Illinois Tool WorksITW0.3%
• CME GroupCME0.2%
• PepsicoPEP0.2%
• AbbVieABBV0.2%