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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

MADISON ASSET MANAGEMENT, LLC

Quarter ended Q2 2023 · Filed April 26, 2023 · Accession 0001299351-23-000012

Total Value
$6.58B
Positions
299
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (299)

#IssuerTicker / CUSIPSharesValue% of Filing
1Arch Capital Group LtdG0450A1054,197,167$284.9M4.33%
2PACCAR IncPCAR2,321,613$169.9M2.58%
3Dollar Tree IncDLTR1,074,194$154.2M2.34%
4Alphabet IncGOOG1,442,702$150.0M2.28%
5Copart IncCPRT1,696,044$127.6M1.94%
6Progressive Corp743315103873,974$125.0M1.90%
7Analog Devices IncADI557,391$109.9M1.67%
8iShares Treasury Floating Rate46434V8602,146,804$108.6M1.65%
9Gartner IncIT331,357$107.9M1.64%
10Liberty Broadband CorpLBRDP1,251,008$102.2M1.55%
11Ross Stores IncROST955,971$101.5M1.54%
12U.S. BancorpUSB-PS2,502,061$90.2M1.37%
13Lowe's Cos Inc548661107441,145$88.2M1.34%
14Carlisle Cos Inc142339100379,346$85.8M1.30%
15Arista Networks IncANET502,452$84.3M1.28%
16Visa IncV370,827$83.6M1.27%
17Becton Dickinson and CoBDX332,499$82.3M1.25%
18SPDR S&P 500 ETF TrustSPY201,017$82.3M1.25%
19Jacobs Solutions IncJ664,611$78.1M1.19%
20Fiserv IncFISV690,460$78.0M1.19%
21Berkshire Hathaway IncBRK-A252,490$78.0M1.18%
22Brown & Brown IncBRO1,314,523$75.5M1.15%
23Brookfield Corp11271J1072,233,278$72.8M1.11%
24Amazon.com IncAMZN701,076$72.4M1.10%
25TJX Cos Inc872540109921,195$72.2M1.10%
26CDW Corp/DECDW360,820$70.3M1.07%
27Accenture PLCACN243,988$69.7M1.06%
28Laboratory Corp of America Hol50540R409286,397$65.7M1.00%
29CarMax IncKMX1,016,101$65.3M0.99%
30Alcon IncALC919,267$64.8M0.98%
31Danaher Corp235851102252,880$63.7M0.97%
32iShares 7-10 Year Treasury Bon464287440638,318$63.3M0.96%
33Floor & Decor Holdings IncFND631,922$62.1M0.94%
34Marsh & McLennan Cos Inc571748102370,733$61.7M0.94%
35Amphenol Corp032095101754,747$61.7M0.94%
36TE Connectivity LtdTEL443,441$58.2M0.88%
37NextEra Energy IncNEE-PW749,791$57.8M0.88%
38iShares Core S&P Small-Cap ETF464287804582,576$56.3M0.86%
39iShares Core S&P Mid-Cap ETF464287507224,491$56.2M0.85%
40Parker-Hannifin CorpPH160,865$54.1M0.82%
41Vanguard FTSE All-World ex-US922042775972,232$52.0M0.79%
42Distillate US Fundamental Stab26922A3211,194,258$51.5M0.78%
43Cisco Systems IncCSCO980,565$51.3M0.78%
44Target CorpTGT308,555$51.1M0.78%
45MKS Instruments IncMKSI567,881$50.3M0.76%
46Home Depot IncHD170,196$50.2M0.76%
47Moelis & CoMC1,299,712$50.0M0.76%
48Markel CorpMKL39,035$49.9M0.76%
49Microsoft CorpMSFT163,741$47.2M0.72%
50WR Berkley CorpWRB-PH737,705$45.9M0.70%
51Vanguard Information Technolog92204A702118,303$45.6M0.69%
52BlackRock IncBLK67,684$45.3M0.69%
53Glacier Bancorp IncGBCI1,072,835$45.1M0.68%
54CME Group IncCME223,899$42.9M0.65%
55JPMorgan Chase & CoVYLD320,919$41.8M0.64%
56Apple IncAAPL245,445$40.5M0.61%
57Adobe IncADBE102,598$39.5M0.60%
58Bristol-Myers Squibb CoCELG-RI565,340$39.2M0.60%
59Johnson & JohnsonJNJ248,275$38.5M0.58%
60American Tower Corp03027X100187,340$38.3M0.58%
61Charles Schwab Corp/TheSCHW-PJ721,540$37.8M0.57%
62Expeditors International of Wa302130109336,456$37.1M0.56%
63Baker Hughes CoBKR1,271,409$36.7M0.56%
64Fastenal CoFAST680,114$36.7M0.56%
65Janus Henderson Mortgage-Backe47103U852771,684$36.0M0.55%
66Medtronic PLCMDT439,440$35.4M0.54%
67VanEck Gold Miners ETF/USA92189F1061,069,872$34.6M0.53%
68Caterpillar IncCAT145,362$33.3M0.51%
69Chevron CorpCVX201,813$32.9M0.50%
70Comcast CorpCCZ855,655$32.4M0.49%
71Morgan StanleyMS-PQ353,884$31.1M0.47%
72Thor Industries Inc885160101385,647$30.7M0.47%
73Texas Instruments Inc882508104161,228$30.0M0.46%
74Armstrong World Industries Inc04247X102412,047$29.4M0.45%
75Air Products & Chemicals IncAIIR101,279$29.1M0.44%
76Archer-Daniels-Midland CoADM364,372$29.0M0.44%
77NIKE IncNKE233,185$28.6M0.43%
78Vanguard Extended Duration Tre921910709311,725$28.2M0.43%
79EOG Resources IncEOG245,716$28.2M0.43%
80Ferguson PLCG3421J106206,196$27.6M0.42%
81PepsiCo IncPEP149,731$27.3M0.41%
82iShares 20 Year Treasury Bond464287432248,805$26.5M0.40%
83iShares 3-7 Year Treasury Bond464288661224,656$26.4M0.40%
84Honeywell International Inc438516106132,965$25.4M0.39%
85United Parcel Service IncUPS129,478$25.1M0.38%
86Costco Wholesale Corp22160K10550,392$25.0M0.38%
87Pfizer IncPFE610,106$24.9M0.38%
88McDonald's CorpMCD88,317$24.7M0.38%
89Kinder Morgan Inc/DEEP-PC1,384,901$24.2M0.37%
90iShares Core U.S. Aggregate Bo464287226242,461$24.2M0.37%
91Microchip Technology IncMCHPP287,517$24.1M0.37%
92Take-Two Interactive SoftwareTTWO200,706$23.9M0.36%
93Travelers Cos IncTRV138,570$23.8M0.36%
94Procter & Gamble Co742718109153,279$22.8M0.35%
95Union Pacific CorpUNP110,418$22.2M0.34%
96Newmont CorpNEMCL452,570$22.2M0.34%
97Eli Lilly & CoLLY54,818$18.8M0.29%
98Brookfield Asset Management Lt113004105560,452$18.3M0.28%
99iShares MSCI International Qua46434V456503,180$17.8M0.27%
100Brown-Forman CorpBF-B275,517$17.7M0.27%
101iShares MSCI China ETF46429B671350,688$17.5M0.27%
102Aflac IncAFL271,065$17.5M0.27%
103Coca-Cola CoKO274,668$17.0M0.26%
104Starbucks CorpSBUX158,492$16.5M0.25%
105Emerson Electric CoEMR184,843$16.1M0.24%
106Energy Select Sector SPDR Fund81369Y506193,931$16.1M0.24%
107Vanguard Short-Term Corporate92206C409206,213$15.7M0.24%
108Linde PLCLIN43,619$15.5M0.24%
109Northern Trust CorpNTRSO175,362$15.5M0.23%
110Invesco S&P 500 Quality ETFIVZ321,335$15.2M0.23%
111Invesco Optimum Yield DiversifIVZ1,031,813$14.7M0.22%
112Schwab US Dividend Equity ETF808524797199,918$14.6M0.22%
113UnitedHealth Group IncUNH30,727$14.5M0.22%
114Walt Disney Co254687106144,957$14.5M0.22%
115SPDR S&P Dividend ETF78464A763116,828$14.5M0.22%
116Liberty Media Corp-Liberty ForFWONB187,655$14.0M0.21%
117Ciena CorpCIEN262,739$13.8M0.21%
118Las Vegas Sands CorpLVS240,000$13.8M0.21%
119Automatic Data Processing IncADP61,649$13.7M0.21%
120PayPal Holdings IncPYPL170,389$12.9M0.20%
121Transocean LtdRIG1,990,000$12.7M0.19%
122Oracle CorpORCL-PD134,969$12.5M0.19%
123QUALCOMM IncQCOM98,266$12.5M0.19%
124Paychex IncPAYX95,397$10.9M0.17%
125T-Mobile US IncTMUSZ73,400$10.6M0.16%
126Nestle SA - Spons ADR64106940682,317$10.0M0.15%
127Vanguard Large-Cap ETF92290863753,311$10.0M0.15%
128Schwab Intermediate-Term U.S.808524854193,052$9.7M0.15%
129WillScot Mobile Mini HoldingsWSC206,256$9.7M0.15%
130SPDR S&P North American Natura78463X152177,044$9.5M0.14%
131APA CorpAPA262,300$9.5M0.14%
132Ecolab IncECL56,654$9.4M0.14%
133iShares Global Energy ETF464287341246,664$9.3M0.14%
134Barrick Gold Corp067901108491,500$9.1M0.14%
135Liberty Media Corp-Liberty ForFWONB133,808$9.0M0.14%
136AES Corp/VAAES356,000$8.6M0.13%
137AmerisourceBergen CorpCOR52,144$8.3M0.13%
138Intuit IncINTU18,651$8.3M0.13%
139WW Grainger Inc38480210411,956$8.2M0.13%
140OneSpaWorld Holdings LtdOSW682,157$8.2M0.12%
141Vanguard Health Care ETF92204A50432,637$7.8M0.12%
142CVS Health CorpCVS102,850$7.6M0.12%
143Constellation Brands IncSTZ33,575$7.6M0.12%
144Exxon Mobil CorpXOM64,137$7.0M0.11%
145Regeneron Pharmaceuticals IncREGN8,558$7.0M0.11%
146Encompass Health CorpEHC127,680$6.9M0.10%
147PTC IncPTC53,660$6.9M0.10%
148Primo Water Corp74167P108440,713$6.8M0.10%
149Vanguard Dividend Appreciation92190884443,205$6.7M0.10%
150HDFC Bank Ltd - Spons ADRHDB94,038$6.3M0.10%
151Diamondback Energy IncFANG45,500$6.2M0.09%
152Edgewell Personal Care Co28035Q102130,195$5.5M0.08%
153First Trust TCW Unconstrained33740F888224,085$5.4M0.08%
154Humana IncHUM11,128$5.4M0.08%
155Simply Good Foods Co/TheSMPL134,331$5.3M0.08%
156Axis Capital Holdings LtdG0692U10996,793$5.3M0.08%
157Nordstrom Inc655664100324,000$5.3M0.08%
158CTS CorpCTS106,006$5.2M0.08%
159Radius Global Infrastructure I750481103357,360$5.2M0.08%
160Alibaba Group Holding Ltd - SpBBAAY50,761$5.2M0.08%
161Cogent Communications HoldingsCCOI80,516$5.1M0.08%
162Box IncBXCAP190,924$5.1M0.08%
163Shake Shack IncSHAK92,066$5.1M0.08%
164EQT CorpEQT159,000$5.1M0.08%
165Illinois Tool Works Inc45230810920,561$5.0M0.08%
166Entegris IncENTG59,847$4.9M0.07%
167Vertex Pharmaceuticals IncVRTX15,541$4.9M0.07%
168Duluth Holdings IncDLTH762,777$4.9M0.07%
169Cameco CorpCCJ181,992$4.8M0.07%
170Garmin LtdGRMN46,377$4.7M0.07%
171CommVault Systems IncCVLT81,615$4.6M0.07%
172Keurig Dr Pepper IncKDP130,000$4.6M0.07%
173Summit Materials Inc86614U100160,955$4.6M0.07%
174ASML Holding NV - Spons NY RegASMLF6,649$4.5M0.07%
175Alteryx Inc02156B10376,898$4.5M0.07%
176Gogo IncGOGO312,026$4.5M0.07%
177Estee Lauder Cos Inc/The51843910417,918$4.4M0.07%
178National Instruments Corp63651810284,196$4.4M0.07%
179Hillman Solutions CorpHLMN514,183$4.3M0.07%
180Globus Medical IncGMED76,060$4.3M0.07%
181BRP Group Inc05589G102168,942$4.3M0.07%
182New Relic Inc64829B10056,699$4.3M0.06%
183SAP SE - Spons ADRSAPGF33,679$4.3M0.06%
184NXP Semiconductors NVNXPI22,678$4.2M0.06%
185Crane NXT CoCXT36,712$4.2M0.06%
186Ping An Insurance Group Co of72341E304317,049$4.1M0.06%
187Model N Inc607525102118,647$4.0M0.06%
188Tencent Holdings Ltd - UnsponsXHLD79,471$3.9M0.06%
189Power Integrations IncPOWI44,979$3.8M0.06%
190Airbus SE - Unspons ADRAIIR113,218$3.8M0.06%
191AstraZeneca PLC - Spons ADRAZN53,967$3.7M0.06%
192Olin CorpOLN66,985$3.7M0.06%
193Wells Fargo & Co94974610199,302$3.7M0.06%
194Revolve Group IncRVLV140,735$3.7M0.06%
195Ollie's Bargain Outlet Holding68111610963,376$3.7M0.06%
196SPDR S&P MidCap 400 ETF TrustMDY7,957$3.6M0.06%
197Sony Group Corp - Spons ADRSNEJF40,055$3.6M0.06%
198Saia IncSAIA13,139$3.6M0.05%
199Deutsche Telekom AG - Spons ADDTEGF147,288$3.6M0.05%
200Merck & Co IncMRK33,086$3.5M0.05%
201Manulife Financial Corp56501R106189,417$3.5M0.05%
202iShares MSCI Global Gold Miner46434G855137,788$3.5M0.05%
203FormFactor IncFORM107,416$3.4M0.05%
204Toray Industries Inc - Unspons890880206294,669$3.4M0.05%
205KION Group AG - Unspons ADR497216101345,607$3.3M0.05%
206Robert Half International IncRHI41,153$3.3M0.05%
207Taiwan Semiconductor Mfg Co Lt87403910035,212$3.3M0.05%
208iShares Short Treasury Bond ET46428867928,913$3.2M0.05%
209Magnite IncMGNI338,252$3.1M0.05%
210Ferrari NVRACE11,538$3.1M0.05%
211Canadian Pacific Kansas City LCP40,344$3.1M0.05%
212Kerry Group PLC - Spons ADRBEKE30,804$3.1M0.05%
213Shell PLC - Spons ADRRYDAF53,190$3.1M0.05%
214Hain Celestial Group Inc/TheHAIN176,663$3.0M0.05%
215Helios Technologies IncHLIO46,290$3.0M0.05%
216Siemens AG - Spons ADR82619750137,304$3.0M0.05%
217Infosys Ltd - Spons ADRINFY172,444$3.0M0.05%
218Prudential PLC - Spons ADRPUKPF109,577$3.0M0.05%
219Southern Copper CorpSCCO39,207$3.0M0.05%
220adidas AG - Spons ADR00687A10733,606$3.0M0.05%
221Huntsman CorpHUN108,217$3.0M0.04%
222Shin-Etsu Chemical Co Ltd - Un82455110572,528$2.9M0.04%
223Pan Pacific International Hold69807K105151,622$2.9M0.04%
224DBS Group Holdings Ltd - Spons23304Y10028,846$2.9M0.04%
225Diageo PLC - Spons ADRDGEAF15,208$2.8M0.04%
226Wal-Mart de Mexico SAB de CV -93114W10768,230$2.7M0.04%
227CyberArk Software LtdM2682V10818,182$2.7M0.04%
228Lonza Group AG - Unspons ADR54338V10144,076$2.6M0.04%
229Chemours Co/TheCC87,825$2.6M0.04%
230iShares Core S&P 500 ETF4642872006,393$2.6M0.04%
231Treasury Wine Estates Ltd - Sp89465J109296,540$2.6M0.04%
232Genmab A/S - Spons ADRGNMSF67,304$2.5M0.04%
233STMicroelectronics NV - SponsSTMEF47,394$2.5M0.04%
234Air Liquide SA - Unspons ADRAIIR74,752$2.5M0.04%
235AIA Group Ltd - Spons ADR00131720558,659$2.5M0.04%
236Worldline SA/France - Unspons98161H101110,222$2.3M0.04%
237Sika AG - Unspons ADR82674R10382,923$2.3M0.04%
238LVMH Moet Hennessy Louis Vuitt50244130612,581$2.3M0.04%
239Itau Unibanco Holding SA - Spo465562106463,935$2.3M0.03%
240Lasertec Corp - Unspons ADR51809L10964,317$2.3M0.03%
241Murata Manufacturing Co Ltd -626425102148,204$2.3M0.03%
242London Stock Exchange Group PL54211N10186,302$2.1M0.03%
243Pagseguro Digital LtdPAGS246,755$2.1M0.03%
244Invesco BuyBack Achievers ETFIVZ24,647$2.1M0.03%
2453M CoMMM19,500$2.0M0.03%
246Texas Capital Bancshares Inc88224Q10741,294$2.0M0.03%
247Norsk Hydro ASA - Spons ADR656531605260,623$1.9M0.03%
248Amgen IncAMGN7,683$1.9M0.03%
249EssilorLuxottica SA - Unspons29728420018,042$1.6M0.02%
250Iron Mountain Inc46284V10130,473$1.6M0.02%
251Nidec Corp - Spons ADRNODK120,177$1.6M0.02%
252Symrise AG - Unspons ADR87155N10954,068$1.5M0.02%
253Shiseido Co Ltd - Spons ADR82484140730,341$1.4M0.02%
254Schwab Fundamental U.S. Large80852477121,877$1.2M0.02%
255Global X MSCI Norway ETF37950E10147,930$1.2M0.02%
256International Business MachineINTR8,812$1.2M0.02%
257Xometry IncXMTR76,990$1.2M0.02%
258Concrete Pumping Holdings IncBBCP150,936$1.0M0.02%
259iShares Edge MSCI USA Quality46432F3398,162$1.0M0.02%
260iShares Russell 1000 Growth ET4642876143,691$901,8220.01%
261Nucor CorpNUE5,756$889,1290.01%
262S&P Global IncSPGI2,568$885,3690.01%
263Lumen Technologies IncLUMN313,000$829,4500.01%
264VICI Properties Inc92565210924,526$800,0380.01%
265Duke Energy CorpDUKB7,874$759,6050.01%
266Alphabet IncGOOG7,192$746,0260.01%
267Allstate CorpALL-PJ6,349$703,5330.01%
268iShares Core MSCI EAFE ETF46432F84210,155$678,8620.01%
269iShares MSCI ACWI ex US ETF46428824013,482$657,5170.01%
270Philip Morris International In7181721096,704$651,9640.01%
271Gilead Sciences IncGILD7,724$640,8600.01%
272General Dynamics CorpGD2,630$600,1920.01%
273Altria Group IncMO13,014$580,6850.01%
274Mastercard IncMA1,570$570,5540.01%
275Mondelez International Inc6092071058,170$569,6120.01%
276Cheniere Energy IncLNG3,583$564,6810.01%
277Waste Management Inc94106L1093,381$551,6780.01%
278iShares MSCI Switzerland ETF46428674910,693$484,6070.01%
279Vanguard Short-Term Bond ETF9219378276,312$482,8050.01%
280iShares iBoxx High Yield Corpo4642885135,900$445,7450.01%
281NVIDIA CorpNVDA1,477$410,2660.01%
282Alliant Energy CorpLNT6,953$371,3100.01%
283Thermo Fisher Scientific IncTMO626$360,8080.01%
284iShares Russell 2000 ETF4642876551,856$331,1100.01%
285Hershey Co/TheHSY1,297$329,9700.01%
286RLI CorpRLI2,468$328,0220.00%
287iShares Core S&P U.S. Growth E4642876713,503$310,9610.00%
288iShares Intermediate Governmen4642886122,817$294,3480.00%
289iShares Russell Mid-Cap Growth4642874813,128$284,8040.00%
290Discover Financial Services2547091082,844$281,1010.00%
291Artisan Partners Asset Managem04316A1088,726$279,0570.00%
292iShares Russell 2000 Growth ET4642876481,129$256,0800.00%
293Vanguard FTSE Developed Market9219438585,494$248,1640.00%
294MGE Energy IncMGEE3,138$243,7240.00%
295Verisk Analytics IncVRSK1,210$232,1510.00%
296Deere & CoDE507$209,3300.00%
297CSX CorpCSX6,888$206,2270.00%
298Vanguard Value ETF9229087441,478$204,1270.00%
299Vanguard Total World Stock ETF9220427422,208$203,3350.00%