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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 Q4 2023 · Filed November 13, 2023 · Accession 0001299351-23-000019

Total Value
$6.81B
Positions
321
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (321)

#IssuerTicker / CUSIPSharesValue% of Filing
1Arch Capital Group LtdG0450A1053,428,048$273.2M4.01%
2Alphabet IncGOOG1,439,318$189.8M2.79%
3PACCAR IncPCAR1,962,110$166.8M2.45%
4Copart IncCPRT3,432,015$147.9M2.17%
5Dollar Tree IncDLTR1,270,947$135.3M1.99%
6Progressive Corp743315103876,617$122.1M1.79%
7Liberty Broadband CorpLBRDP1,275,100$116.4M1.71%
8Gartner IncIT335,119$115.2M1.69%
9Ross Stores IncROST968,777$109.4M1.61%
10Carlisle Cos Inc142339100390,064$101.1M1.48%
11Lowe's Cos Inc548661107471,667$98.0M1.44%
12Analog Devices IncADI536,437$93.9M1.38%
13Arista Networks IncANET506,337$93.1M1.37%
14iShares Treasury Floating Rate46434V8601,827,776$92.7M1.36%
15Brown & Brown IncBRO1,327,180$92.7M1.36%
16Berkshire Hathaway IncBRK-A254,374$89.1M1.31%
17Becton Dickinson and CoBDX335,744$86.8M1.27%
18Visa IncV377,203$86.8M1.27%
19TJX Cos Inc872540109943,583$83.9M1.23%
20Amazon.com IncAMZN637,894$81.1M1.19%
21Janus Henderson Mortgage-Backe47103U8521,838,321$79.8M1.17%
22SPDR S&P 500 ETF TrustSPY183,738$78.5M1.15%
23Madison Covered Call ETF5574414093,975,000$78.5M1.15%
24Accenture PLCACN253,411$77.8M1.14%
25U.S. BancorpUSB-PS2,319,798$76.7M1.13%
26Fiserv IncFISV674,703$76.2M1.12%
27CarMax IncKMX1,042,391$73.7M1.08%
28CDW Corp/DECDW364,322$73.5M1.08%
29Danaher Corp235851102293,111$72.7M1.07%
30Alcon IncALC938,269$72.3M1.06%
31Brookfield Corp11271J1072,270,355$71.0M1.04%
32iShares 7-10 Year Treasury Bon464287440736,969$67.5M0.99%
33Distillate US Fundamental Stab26922A3211,467,345$65.5M0.96%
34Amphenol Corp032095101778,953$65.4M0.96%
35Parker-Hannifin CorpPH164,129$63.9M0.94%
36Texas Instruments Inc882508104401,782$63.9M0.94%
37Madison Dividend Value ETF5574415083,273,140$62.1M0.91%
38Moelis & CoMC1,339,194$60.4M0.89%
39Laboratory Corp of America Hol50540R409289,568$58.2M0.85%
40Floor & Decor Holdings IncFND642,439$58.1M0.85%
41Markel CorpMKL39,291$57.9M0.85%
42Microsoft CorpMSFT181,253$57.2M0.84%
43Madison Short-Term Strategic I5574412012,775,000$55.2M0.81%
44iShares Core S&P Small-Cap ETF464287804551,286$52.0M0.76%
45Invesco S&P 500 Quality ETFIVZ1,036,464$51.9M0.76%
46Marsh & McLennan Cos Inc571748102270,652$51.5M0.76%
47iShares Core S&P Mid-Cap ETF464287507202,487$50.5M0.74%
48MKS Instruments IncMKSI574,570$49.7M0.73%
49WR Berkley CorpWRB-PH747,329$47.4M0.70%
50Vanguard Information Technolog92204A702112,365$46.6M0.68%
51Madison Aggregate Bond ETF5574413002,350,000$46.3M0.68%
52Elevance Health IncELV100,389$43.7M0.64%
53NextEra Energy IncNEE-PW732,139$41.9M0.62%
54Home Depot IncHD136,955$41.4M0.61%
55iShares Aaa - A Rated Corporat46429B291911,933$41.1M0.60%
56Charles Schwab Corp/TheSCHW-PJ743,670$40.8M0.60%
57Waters Corp941848103147,529$40.5M0.59%
58Cisco Systems IncCSCO750,721$40.4M0.59%
59BlackRock IncBLK60,191$38.9M0.57%
60Expeditors International of Wa302130109339,047$38.9M0.57%
61Agilent Technologies IncA337,994$37.8M0.55%
62Thor Industries Inc885160101394,599$37.5M0.55%
63Apple IncAAPL218,037$37.3M0.55%
64American Tower Corp03027X100226,017$37.2M0.55%
65JPMorgan Chase & CoVYLD255,878$37.1M0.54%
66Medtronic PLCMDT468,076$36.7M0.54%
67EOG Resources IncEOG287,915$36.5M0.54%
68Ferguson PLCG3421J106211,854$34.8M0.51%
69Air Products & Chemicals IncAIIR117,265$33.2M0.49%
70Chevron CorpCVX189,485$32.0M0.47%
71CME Group IncCME157,411$31.5M0.46%
72Fastenal CoFAST576,737$31.5M0.46%
73Vanguard FTSE All-World ex-US922042775596,226$30.9M0.45%
74Comcast CorpCCZ681,315$30.2M0.44%
75Glacier Bancorp IncGBCI1,057,286$30.1M0.44%
76iShares 3-7 Year Treasury Bond464288661262,689$29.7M0.44%
77Johnson & JohnsonJNJ189,148$29.5M0.43%
78Morgan StanleyMS-PQ353,420$28.9M0.42%
79Take-Two Interactive SoftwareTTWO204,068$28.6M0.42%
80Eli Lilly & CoLLY52,399$28.1M0.41%
81Baker Hughes CoBKR780,753$27.6M0.40%
82Costco Wholesale Corp22160K10548,176$27.2M0.40%
83PepsiCo IncPEP155,203$26.3M0.39%
84Armstrong World Industries Inc04247X102360,711$26.0M0.38%
85Caterpillar IncCAT93,495$25.5M0.37%
86NIKE IncNKE259,453$24.8M0.36%
87Schwab Intermediate-Term U.S.808524854514,789$24.7M0.36%
88Archer-Daniels-Midland CoADM323,628$24.4M0.36%
89Microchip Technology IncMCHPP310,764$24.3M0.36%
90iShares Core U.S. Aggregate Bo464287226233,665$22.0M0.32%
91Pfizer IncPFE659,353$21.9M0.32%
92Target CorpTGT195,968$21.7M0.32%
93Union Pacific CorpUNP105,884$21.6M0.32%
94Bristol-Myers Squibb CoCELG-RI365,059$21.2M0.31%
95Jacobs Solutions IncJ155,068$21.2M0.31%
96United Parcel Service IncUPS129,107$20.1M0.30%
97UnitedHealth Group IncUNH38,722$19.5M0.29%
98iShares MSCI International Qua46434V456578,756$19.5M0.29%
99Brookfield Asset Management Lt113004105569,323$19.0M0.28%
100Honeywell International Inc438516106102,178$18.9M0.28%
101Newmont CorpNEMCL494,964$18.3M0.27%
102Las Vegas Sands CorpLVS392,060$18.0M0.26%
103Transocean LtdRIG2,140,000$17.6M0.26%
104Procter & Gamble Co742718109118,102$17.2M0.25%
105Kinder Morgan Inc/DEEP-PC1,004,034$16.6M0.24%
106Oracle CorpORCL-PD156,090$16.5M0.24%
107Brown-Forman CorpBF-B278,330$16.1M0.24%
108McDonald's CorpMCD59,619$15.7M0.23%
109Franklin FTSE Japan ETFFGDL584,962$15.5M0.23%
110Linde PLCLIN41,439$15.4M0.23%
111Aflac IncAFL196,962$15.1M0.22%
112Energy Select Sector SPDR Fund81369Y506165,559$15.0M0.22%
113Abbott LaboratoriesABLZF151,072$14.6M0.21%
114iShares 20 Year Treasury Bond464287432159,339$14.1M0.21%
115Invesco Optimum Yield DiversifIVZ907,209$13.6M0.20%
116QUALCOMM IncQCOM113,458$12.6M0.18%
117APA CorpAPA305,586$12.6M0.18%
118Paychex IncPAYX101,090$11.7M0.17%
119Liberty Media Corp-Liberty ForFWONB185,824$11.6M0.17%
120TE Connectivity LtdTEL88,993$11.0M0.16%
121Coca-Cola CoKO195,845$11.0M0.16%
122Automatic Data Processing IncADP45,311$10.9M0.16%
123Ciena CorpCIEN229,422$10.8M0.16%
124Schwab US Dividend Equity ETF808524797152,981$10.8M0.16%
125AES Corp/VAAES711,089$10.8M0.16%
126iShares MSCI China ETF46429B671248,920$10.8M0.16%
127Starbucks CorpSBUX118,063$10.8M0.16%
128Vanguard Large-Cap ETF92290863751,136$10.0M0.15%
129Barrick Gold Corp067901108629,500$9.2M0.13%
130Ecolab IncECL53,499$9.1M0.13%
131Nestle SA - Spons ADR64106940679,802$9.0M0.13%
132Exxon Mobil CorpXOM76,800$9.0M0.13%
133Colgate-Palmolive CoCL125,963$9.0M0.13%
134Diamondback Energy IncFANG56,866$8.8M0.13%
135WillScot Mobile Mini HoldingsWSC206,328$8.6M0.13%
136Encompass Health CorpEHC127,735$8.6M0.13%
137Liberty Media Corp-Liberty ForFWONB147,071$8.3M0.12%
138CVS Health CorpCVS117,850$8.2M0.12%
139OneSpaWorld Holdings LtdOSW714,772$8.0M0.12%
140PayPal Holdings IncPYPL135,903$7.9M0.12%
141Northern Trust CorpNTRSO113,742$7.9M0.12%
142Primo Water Corp74167P108560,634$7.7M0.11%
143iShares Global Energy ETF464287341186,771$7.7M0.11%
144PTC IncPTC53,651$7.6M0.11%
145ConocoPhillipsCOP62,663$7.5M0.11%
146VanEck Gold Miners ETF/USA92189F106267,293$7.2M0.11%
147Keurig Dr Pepper IncKDP227,526$7.2M0.11%
148Constellation Brands IncSTZ28,140$7.1M0.10%
149iShares MBS ETF46428858878,240$6.9M0.10%
150Regeneron Pharmaceuticals IncREGN8,393$6.9M0.10%
151T-Mobile US IncTMUSZ46,302$6.5M0.10%
152Cencora IncCOR35,565$6.4M0.09%
153Axis Capital Holdings LtdG0692U109113,503$6.4M0.09%
154Intuit IncINTU12,416$6.3M0.09%
155Entegris IncENTG64,590$6.1M0.09%
156Alibaba Group Holding Ltd - SpBBAAY63,945$5.5M0.08%
157iShares MSCI Emerging Markets46428642688,025$5.5M0.08%
158Vanguard Dividend Appreciation92190884435,135$5.5M0.08%
159Humana IncHUM11,013$5.4M0.08%
160HDFC Bank Ltd - Spons ADRHDB90,247$5.3M0.08%
161Vertex Pharmaceuticals IncVRTX15,014$5.2M0.08%
162First Trust TCW Unconstrained33740F888217,139$5.2M0.08%
163JPMorgan BetaBuilders Japan ET46641Q217101,236$5.1M0.07%
164Cameco CorpCCJ127,547$5.1M0.07%
165Summit Materials Inc86614U100161,090$5.0M0.07%
166CTS CorpCTS118,441$4.9M0.07%
167FormFactor IncFORM139,438$4.9M0.07%
168Nordstrom Inc655664100324,000$4.8M0.07%
169Illinois Tool Works Inc45230810920,282$4.7M0.07%
170Simply Good Foods Co/TheSMPL134,477$4.6M0.07%
171Duluth Holdings IncDLTH762,777$4.6M0.07%
172New Relic Inc64829B10051,990$4.5M0.07%
173Olin CorpOLN88,514$4.4M0.06%
174NXP Semiconductors NVNXPI21,698$4.3M0.06%
175CommVault Systems IncCVLT63,061$4.3M0.06%
176Edgewell Personal Care Co28035Q102115,343$4.3M0.06%
177SAP SE - Spons ADRSAPGF32,391$4.2M0.06%
178International Business MachineINTR29,350$4.1M0.06%
179Wells Fargo & Co94974610198,519$4.0M0.06%
180Saia IncSAIA10,090$4.0M0.06%
181WW Grainger Inc3848021045,747$4.0M0.06%
182BRP Group Inc05589G102169,184$3.9M0.06%
183Infosys Ltd - Spons ADRINFY223,458$3.8M0.06%
184Vanguard Extended Duration Tre92191070954,480$3.8M0.06%
185Power Integrations IncPOWI49,769$3.8M0.06%
186Globus Medical IncGMED76,143$3.8M0.06%
187ASML Holding NV - Spons NY RegASMLF6,377$3.8M0.06%
188Hillman Solutions CorpHLMN452,736$3.7M0.05%
189Cogent Communications HoldingsCCOI60,243$3.7M0.05%
190Gogo IncGOGO312,265$3.7M0.05%
191Helios Technologies IncHLIO67,069$3.7M0.05%
192Robert Half IncRHI50,676$3.7M0.05%
193Deutsche Telekom AG - Spons ADDTEGF175,962$3.7M0.05%
194AstraZeneca PLC - Spons ADRAZN53,335$3.6M0.05%
195Ollie's Bargain Outlet Holding68111610946,527$3.6M0.05%
196Gilead Sciences IncGILD47,889$3.6M0.05%
197Ping An Insurance Group Co of72341E304313,546$3.5M0.05%
198Crane CoCR39,881$3.5M0.05%
199Leonardo DRS IncDRS211,054$3.5M0.05%
200Core & Main IncCNM121,118$3.5M0.05%
201Western Alliance BancorpWAL-PA75,074$3.5M0.05%
202JFrog LtdFROG134,277$3.4M0.05%
203Manulife Financial Corp56501R106181,592$3.3M0.05%
204Canadian Pacific Kansas City LCP44,507$3.3M0.05%
205Merck & Co IncMRK31,800$3.3M0.05%
206KION Group AG - Unspons ADR497216101341,858$3.3M0.05%
207Shell PLC - Spons ADRRYDAF49,894$3.2M0.05%
208Shake Shack IncSHAK55,087$3.2M0.05%
209Model N Inc607525102129,688$3.2M0.05%
210Emerson Electric CoEMR32,659$3.2M0.05%
211Pan Pacific International Hold69807K105150,323$3.1M0.05%
212Airbus SE - Unspons ADRAIIR93,309$3.1M0.05%
213Adobe IncADBE5,961$3.0M0.04%
214Tencent Holdings Ltd - UnsponsXHLD78,291$3.0M0.04%
215Toray Industries Inc - Unspons890880206290,856$3.0M0.04%
216Vanguard Health Care ETF92204A50412,603$3.0M0.04%
217Taiwan Semiconductor Mfg Co Lt87403910033,861$2.9M0.04%
218Scotts Miracle-Gro Co/TheSMG56,832$2.9M0.04%
219Southern Copper CorpSCCO38,866$2.9M0.04%
220adidas AG - Spons ADR00687A10733,294$2.9M0.04%
221Box IncBXCAP119,230$2.9M0.04%
222SPDR S&P Dividend ETF78464A76325,066$2.9M0.04%
223CyberArk Software LtdM2682V10817,384$2.8M0.04%
224Crane NXT CoCXT51,113$2.8M0.04%
225Sony Group Corp - Spons ADRSNEJF34,271$2.8M0.04%
226Kerry Group PLC - Spons ADRBEKE33,646$2.8M0.04%
227Garmin LtdGRMN26,238$2.8M0.04%
228Hayward Holdings IncHAYW193,174$2.7M0.04%
229Xometry IncXMTR159,801$2.7M0.04%
230Magnite IncMGNI359,038$2.7M0.04%
231iShares Core S&P 500 ETF4642872006,282$2.7M0.04%
232Genmab A/S - Spons ADRGNMSF75,435$2.7M0.04%
233Siemens AG - Spons ADR82619750137,154$2.7M0.04%
234Alteryx Inc02156B10369,969$2.6M0.04%
235Lonza Group AG - Unspons ADR54338V10156,118$2.6M0.04%
236iShares Short Treasury Bond ET46428867923,296$2.6M0.04%
237Fomento Economico Mexicano SAB34441910622,807$2.5M0.04%
238London Stock Exchange Group PL54211N10197,541$2.5M0.04%
239Wal-Mart de Mexico SAB de CV -93114W10765,328$2.5M0.04%
240STMicroelectronics NV - SponsSTMEF56,412$2.4M0.04%
241SPDR S&P MidCap 400 ETF TrustMDY5,246$2.4M0.04%
242Itau Unibanco Holding SA - Spo465562106444,659$2.4M0.04%
243Prudential PLC - Spons ADRPUKPF107,707$2.4M0.03%
244Lasertec Corp - Unspons ADR51809L10975,728$2.4M0.03%
245Ferrari NVRACE7,925$2.3M0.03%
246Treasury Wine Estates Ltd - Sp89465J109293,154$2.3M0.03%
247Shin-Etsu Chemical Co Ltd - Un824551105154,035$2.2M0.03%
248Invesco BuyBack Achievers ETFIVZ23,993$2.2M0.03%
249Sika AG - Unspons ADR82674R10381,568$2.1M0.03%
250Pagseguro Digital LtdPAGS234,357$2.0M0.03%
251Murata Manufacturing Co Ltd -626425102145,998$2.0M0.03%
252Hain Celestial Group Inc/TheHAIN192,197$2.0M0.03%
253Norsk Hydro ASA - Spons ADR656531605311,597$1.9M0.03%
254Diageo PLC - Spons ADRDGEAF12,948$1.9M0.03%
255Revolve Group IncRVLV141,006$1.9M0.03%
256Estee Lauder Cos Inc/The51843910413,109$1.9M0.03%
257LVMH Moet Hennessy Louis Vuitt50244130612,369$1.9M0.03%
258Amgen IncAMGN6,944$1.9M0.03%
259AIA Group Ltd - Spons ADR00131720557,594$1.9M0.03%
2603M CoMMM19,500$1.8M0.03%
261Huntsman CorpHUN74,153$1.8M0.03%
262Iron Mountain Inc46284V10130,402$1.8M0.03%
263Worldline SA/France - Unspons98161H101121,412$1.7M0.02%
264Nidec Corp - Spons ADRNODK143,378$1.7M0.02%
265Corning IncGLW52,764$1.6M0.02%
266Air Liquide SA - Unspons ADRAIIR47,313$1.6M0.02%
267Symrise AG - Unspons ADR87155N10966,705$1.6M0.02%
268Travelers Cos IncTRV9,369$1.5M0.02%
269iShares MSCI Global Gold Miner46434G85571,624$1.5M0.02%
270Bank of America Corp06050510453,872$1.5M0.02%
271AbbVie IncABBV9,097$1.4M0.02%
272Prudential Financial IncPUKPF14,003$1.3M0.02%
273Shiseido Co Ltd - Spons ADR82484140737,304$1.3M0.02%
274SPDR S&P North American Natura78463X15224,187$1.3M0.02%
275EssilorLuxottica SA - Unspons29728420014,125$1.2M0.02%
276Schwab Fundamental U.S. Large80852477121,760$1.2M0.02%
277iShares Edge MSCI USA Quality46432F3398,162$1.1M0.02%
278HealthEquity IncHQY13,835$1.0M0.01%
279S&P Global IncSPGI2,594$947,8740.01%
280Alphabet IncGOOG7,008$917,0670.01%
281iShares Russell 1000 Growth ET4642876142,906$772,9670.01%
282MGE Energy IncMGEE11,095$760,1150.01%
283VICI Properties Inc92565210924,526$713,7070.01%
284Allstate CorpALL-PJ6,349$707,3420.01%
285Nucor CorpNUE4,424$691,6920.01%
286Duke Energy CorpDUKB7,754$684,3680.01%
287WEC Energy Group IncWEC8,185$659,3020.01%
288iShares Core MSCI EAFE ETF46432F84210,155$653,4740.01%
289NVIDIA CorpNVDA1,479$643,3500.01%
290Mastercard IncMA1,570$621,5790.01%
291Philip Morris International In7181721096,704$620,6560.01%
292Cheniere Energy IncLNG3,583$594,6350.01%
293General Dynamics CorpGD2,630$581,1510.01%
294Mondelez International Inc6092071058,170$566,9980.01%
295Altria Group IncMO12,947$544,4210.01%
296Waste Management Inc94106L1093,381$515,4000.01%
297Vanguard Short-Term Corporate92206C4096,792$510,4190.01%
298Fox Factory Holding CorpFOXF4,899$485,3930.01%
299Vanguard Short-Term Bond ETF9219378276,312$474,4730.01%
300iShares Core S&P U.S. Growth E4642876714,831$458,1240.01%
301Lumen Technologies IncLUMN313,000$444,4600.01%
302iShares iBoxx High Yield Corpo4642885135,900$434,9480.01%
303iShares Intermediate Governmen4642886123,366$341,0770.01%
304RLI CorpRLI2,468$335,3770.00%
305Alliant Energy CorpLNT6,730$326,0870.00%
306Artisan Partners Asset Managem04316A1088,633$323,0470.00%
307iShares Russell 2000 ETF4642876551,760$311,0620.00%
308Thermo Fisher Scientific IncTMO581$294,0850.00%
309Xcel Energy IncXELLL5,064$289,7620.00%
310iShares MSCI ACWI ex US ETF4642882406,106$287,0430.00%
311Verisk Analytics IncVRSK1,210$285,8500.00%
312iShares Russell Mid-Cap Growth4642874813,128$285,7430.00%
313ARK Innovation ETF00214Q1046,730$266,9790.00%
314iShares MSCI Japan Small-Cap E4642865823,903$265,2280.00%
315Discover Financial Services2547091082,844$246,3760.00%
316iShares Russell 2000 Growth ET4642876481,082$242,5300.00%
317iShares Russell Mid-Cap ETF4642874993,437$238,0300.00%
318Blackstone Group Inc/TheBX2,000$214,2800.00%
319Hershey Co/TheHSY1,065$213,0850.00%
320CSX CorpCSX6,888$211,8060.00%
321iShares S&P 100 ETF4642871011,039$208,4650.00%