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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 Q3 2024 · Filed November 12, 2024 · Accession 0001954889-24-000003

Total Value
$8.89B
Positions
328
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (328)

#IssuerTicker / CUSIPSharesValue% of Filing
1Arch Capital Group LtdG0450A1054,213,516$471.4M5.30%
2Gartner IncIT465,569$235.9M2.65%
3PACCAR IncPCAR2,325,256$229.5M2.58%
4Alphabet IncGOOG1,365,906$228.4M2.57%
5Copart IncCPRT4,159,546$218.0M2.45%
6Ross Stores IncROST1,349,187$203.1M2.28%
7Brown & Brown IncBRO1,734,746$179.7M2.02%
8Carlisle Cos Inc142339100371,790$167.2M1.88%
9Amazon.com IncAMZN747,114$139.2M1.57%
10Amphenol Corp0320951012,075,843$135.3M1.52%
11Dollar Tree IncDLTR1,812,970$127.5M1.43%
12Analog Devices IncADI531,004$122.2M1.37%
13Liberty Broadband CorpLBRDP1,551,396$119.9M1.35%
14Texas Instruments Inc882508104579,530$119.7M1.35%
15Fiserv IncFISV661,692$118.9M1.34%
16Lowe's Cos Inc548661107431,428$116.9M1.31%
17Berkshire Hathaway IncBRK-A247,572$113.9M1.28%
18CDW Corp/DECDW502,552$113.7M1.28%
19Floor & Decor Holdings IncFND908,834$112.8M1.27%
20Visa IncV405,250$111.4M1.25%
21Accenture PLCACN313,273$110.7M1.25%
22Progressive Corp743315103435,468$110.5M1.24%
23Labcorp Holdings Inc Com Usd0.LH494,339$110.5M1.24%
24Moelis & CoMC1,559,321$106.8M1.20%
25Arista Networks IncANET277,469$106.5M1.20%
26Agilent Technologies IncA699,474$103.9M1.17%
27Parker-Hannifin CorpPH163,296$103.2M1.16%
28Thor Industries Inc885160101920,977$101.2M1.14%
29Alcon IncALC938,107$93.9M1.06%
30U.S. BancorpUSB-PS2,037,539$93.2M1.05%
31Waters Corp941848103257,871$92.8M1.04%
32Invesco S&P 500 Quality ETFIVZ1,355,696$91.2M1.03%
33WR Berkley CorpWRB-PH1,553,936$88.2M0.99%
34MKS Instruments IncMKSI801,348$87.1M0.98%
35Keysight Technologies IncKEYS545,426$86.7M0.97%
36Teledyne Technologies IncTDY185,107$81.0M0.91%
37Distillate US Fundamental Stab26922A3211,415,814$80.3M0.90%
38Danaher Corp Com Usd0.01235851102284,896$79.2M0.89%
39Janus Henderson Mortgage-Backe47103U8521,677,710$78.3M0.88%
40Brown-Forman CorpBF-B1,573,446$77.4M0.87%
41Brookfield Asset Management Lt1130041051,579,950$74.7M0.84%
42Asbury Automotive Group IncABG306,580$73.1M0.82%
43Lithia Motors Inc536797103230,251$73.1M0.82%
44Madison Covered Call ETF5574414093,726,642$72.7M0.82%
45Armstrong World Industries Inc04247X102494,367$65.0M0.73%
46Brookfield Corp11271J1071,218,119$64.7M0.73%
47Charles Schwab Corp/TheSCHW-PJ982,609$63.7M0.72%
48NextEra Energy IncNEE-PW731,658$61.8M0.70%
49Microsoft CorpMSFT143,446$61.7M0.69%
50Madison Short-Term Strategic I5574412012,972,579$61.6M0.69%
51Expeditors International of Wa302130109465,903$61.2M0.69%
52Ferguson Enterprises IncFERG307,344$61.0M0.69%
53Microchip Technology IncMCHPP756,325$60.7M0.68%
54TJX Cos Inc872540109515,033$60.5M0.68%
55Marsh & McLennan Cos Inc571748102271,209$60.5M0.68%
56Madison Aggregate Bond ETF5574413002,779,486$58.2M0.65%
57Liberty Media Corp-Liberty ForFWONB733,333$56.8M0.64%
58Madison Dividend Value ETF5574415082,574,005$56.0M0.63%
59CarMax IncKMX720,456$55.7M0.63%
60Schwab Intermediate-Term U.S.8085248541,095,057$55.4M0.62%
61Starbucks CorpSBUX551,093$53.7M0.60%
62Deere & CoDE118,259$49.4M0.55%
63Apple IncAAPL197,303$46.0M0.52%
64Home Depot IncHD110,638$44.8M0.50%
65Eli Lilly & CoLLY50,026$44.3M0.50%
66Vanguard Information Technolog92204A70271,434$41.9M0.47%
67NIKE IncNKE451,206$39.9M0.45%
68Glacier Bancorp IncGBCI870,902$39.8M0.45%
69Elevance Health IncELV75,179$39.1M0.44%
70Blackrock IncBLK39,023$37.1M0.42%
71Automatic Data Processing IncADP132,186$36.6M0.41%
72Graco IncGGG411,729$36.0M0.41%
73Cullen/Frost Bankers IncCFR-PB314,864$35.2M0.40%
74Medtronic PLCMDT387,081$34.8M0.39%
75JPMorgan Chase & CoVYLD161,933$34.1M0.38%
76PepsiCo IncPEP193,705$32.9M0.37%
77Liberty Media Corp-Liberty ForFWONB454,863$32.5M0.37%
78iShares Treasury Floating Rate46434V860641,025$32.4M0.36%
79CME Group IncCME143,044$31.6M0.35%
80Honeywell International Inc438516106152,483$31.5M0.35%
81Costco Wholesale Corp22160K10535,458$31.4M0.35%
82Fastenal CoFAST438,854$31.3M0.35%
83iShares 3-7 Year Treasury Bond464288661246,935$29.5M0.33%
84iShares MSCI Emerging Markets464286426371,107$29.1M0.33%
85SPDR S&P 500 ETF TrustSPY50,044$28.7M0.32%
86Oracle CorpORCL-PD167,705$28.6M0.32%
87American Tower Corp03027X100119,025$27.7M0.31%
88ConocoPhillipsCOP255,902$26.9M0.30%
89Johnson & JohnsonJNJ166,035$26.9M0.30%
90Union Pacific CorpUNP95,070$23.4M0.26%
91iShares Aaa - A Rated Corporat46429B291474,529$23.3M0.26%
92Vanguard FTSE Europe ETF922042874326,627$23.2M0.26%
93Morgan StanleyMS-PQ221,191$23.1M0.26%
94Comcast CorpCCZ547,959$22.9M0.26%
95Abbott LaboratoriesABLZF199,294$22.7M0.26%
96UnitedHealth Group IncUNH37,951$22.2M0.25%
97iShares 7-10 Year Treasury Bon464287440221,045$21.7M0.24%
98iShares Core S&P Mid-Cap ETF464287507341,519$21.3M0.24%
99Franklin FTSE Japan ETFFGDL696,436$21.2M0.24%
100Chevron CorpCVX141,785$20.9M0.23%
101Las Vegas Sands CorpLVS407,600$20.5M0.23%
102iShares Core U.S. Aggregate Bo464287226196,531$19.9M0.22%
103Exxon Mobil CorpXOM168,627$19.8M0.22%
104Hershey Co/TheHSY101,765$19.5M0.22%
105Energy Select Sector SPDR Fund81369Y506217,640$19.1M0.21%
106EOG Resources IncEOG151,756$18.7M0.21%
107Linde PLCLIN38,854$18.5M0.21%
108Vanguard Dividend Appreciation92190884492,943$18.4M0.21%
109AbbVie IncABBV90,757$17.9M0.20%
110SPDR Portfolio Short Term Trea78468R101604,435$17.8M0.20%
111iShares MSCI International Qua46434V456414,375$17.2M0.19%
112iShares Core S&P Small-Cap ETF464287804134,117$15.7M0.18%
113QUALCOMM IncQCOM91,093$15.5M0.17%
114AES Corp/VAAES728,000$14.6M0.16%
115Newmont CorpNEMCL261,375$14.0M0.16%
116United Parcel Service IncUPS100,375$13.7M0.15%
117McDonald's CorpMCD44,383$13.5M0.15%
118Air Products & Chemicals IncAIIR44,922$13.4M0.15%
119Bank of America Corp060505104333,550$13.2M0.15%
120Equifax IncEFX44,697$13.1M0.15%
121Ecolab IncECL51,047$13.0M0.15%
122Ciena CorpCIEN204,214$12.6M0.14%
123Barrick Gold Corp067901108629,500$12.5M0.14%
124TE Connectivity PLCTEL80,961$12.2M0.14%
125Vanguard Large-Cap ETF92290863745,742$12.0M0.14%
126Vanguard FTSE All-World ex-US922042775189,679$11.9M0.13%
127PayPal Holdings IncPYPL152,300$11.9M0.13%
128Transocean LtdRIG2,775,000$11.8M0.13%
129Colgate-Palmolive CoCL109,170$11.3M0.13%
130Constellation Brands IncSTZ43,400$11.2M0.13%
131Procter & Gamble Co74271810963,461$11.0M0.12%
132Archer-Daniels-Midland CoADM177,400$10.6M0.12%
133Cummins IncCMI32,619$10.6M0.12%
134Adobe IncADBE19,518$10.1M0.11%
135APA CorpAPA399,900$9.8M0.11%
136Caterpillar IncCAT24,766$9.7M0.11%
137Matador Resources CoMTDR196,000$9.7M0.11%
138Paychex IncPAYX70,475$9.5M0.11%
139Encompass Health CorpEHC97,798$9.5M0.11%
140OneSpaWorld Holdings LtdOSW547,405$9.0M0.10%
141CVS Health CorpCVS138,850$8.7M0.10%
142SPDR S&P MidCap 400 ETF TrustMDY14,503$8.3M0.09%
143Cogent Communications HoldingsCCOI108,074$8.2M0.09%
144Global X MLP ETF37954Y343170,521$8.2M0.09%
145Summit Materials Inc86614U100205,995$8.0M0.09%
146Emerson Electric CoEMR69,944$7.6M0.09%
147Nordstrom Inc655664100324,000$7.3M0.08%
148Dominion Energy IncD124,470$7.2M0.08%
149Core & Main IncCNM160,078$7.1M0.08%
150Box IncBXCAP215,665$7.1M0.08%
151Scotts Miracle-Gro Co/TheSMG81,078$7.0M0.08%
152Northern Trust CorpNTRSO77,588$7.0M0.08%
153Regeneron Pharmaceuticals IncREGN6,559$6.9M0.08%
154Vertex Pharmaceuticals IncVRTX14,511$6.7M0.08%
155WillScot Holdings CorpWSC168,565$6.3M0.07%
156Crane CoCR39,861$6.3M0.07%
157Target CorpTGT40,164$6.3M0.07%
158Simply Good Foods Co/TheSMPL171,818$6.0M0.07%
159Pfizer IncPFE203,208$5.9M0.07%
160Vanguard Short-Term Corporate92206C40972,867$5.8M0.07%
161SPDR Portfolio Long Term Treas78464A664199,027$5.8M0.07%
162T-Mobile US IncTMUSZ28,000$5.8M0.06%
163HealthEquity IncHQY66,459$5.4M0.06%
164WW Grainger Inc3848021045,219$5.4M0.06%
165HDFC Bank Ltd - Spons ADRHDB86,659$5.4M0.06%
166Intuit IncINTU8,713$5.4M0.06%
167iShares Currency Hedged MSCI E46434V639145,131$5.3M0.06%
168Entegris IncENTG46,577$5.2M0.06%
169Alibaba Group Holding Ltd - SpBBAAY49,074$5.2M0.06%
170Shake Shack IncSHAK49,445$5.1M0.06%
171Wells Fargo & Co94974610189,728$5.1M0.06%
172Axis Capital Holdings LtdG0692U10962,435$5.0M0.06%
173First Trust TCW Unconstrained33740F888193,005$4.9M0.05%
174Illinois Tool Works Inc45230810918,268$4.8M0.05%
175Freeport-McMoRan IncFCX94,413$4.7M0.05%
176Deutsche Telekom AG - Spons ADDTEGF159,496$4.7M0.05%
177Power Integrations IncPOWI72,574$4.7M0.05%
178CommVault Systems IncCVLT30,214$4.6M0.05%
179Hayward Holdings IncHAYW295,195$4.5M0.05%
180Primo Water Corp74167P108171,234$4.3M0.05%
181Leonardo DRS IncDRS151,741$4.3M0.05%
182AstraZeneca PLC - Spons ADRAZN54,510$4.2M0.05%
183Olin CorpOLN88,221$4.2M0.05%
184iShares Core S&P 500 ETF4642872007,255$4.2M0.05%
185Edgewell Personal Care Co28035Q102115,056$4.2M0.05%
186Taiwan Semiconductor Mfg Co Lt87403910024,053$4.2M0.05%
187Texas Capital Bancshares Inc88224Q10757,082$4.1M0.05%
188Schwab US Dividend Equity ETF80852479747,510$4.0M0.05%
189CTS CorpCTS82,731$4.0M0.05%
190ASML Holding NV - Spons NY RegASMLF4,780$4.0M0.04%
191Tencent Holdings Ltd - UnsponsXHLD70,577$3.9M0.04%
192FormFactor IncFORM83,332$3.8M0.04%
193JPMorgan BetaBuilders Japan ET46641Q21764,045$3.8M0.04%
194Confluent Inc20717M103182,987$3.7M0.04%
195Baldwin Insurance Group Inc/Th05589G10274,151$3.7M0.04%
196Cameco CorpCCJ76,481$3.7M0.04%
197AIA Group Ltd - Spons ADR001317205103,774$3.7M0.04%
198Hain Celestial Group Inc/TheHAIN419,866$3.6M0.04%
199Infosys Ltd - Spons ADRINFY158,801$3.5M0.04%
200Option Care Health IncOPCH111,995$3.5M0.04%
201Western Alliance BancorpWAL-PA40,241$3.5M0.04%
202Wal-Mart de Mexico SAB de CV -93114W107113,101$3.4M0.04%
203Revolve Group IncRVLV136,355$3.4M0.04%
204Merck & Co IncMRK29,582$3.4M0.04%
205Kerry Group PLC - Spons ADRBEKE32,244$3.3M0.04%
206adidas AG - Spons ADR00687A10725,077$3.3M0.04%
207Pan Pacific International Hold69807K105125,607$3.3M0.04%
208Crane NXT CoCXT58,098$3.3M0.04%
209SAP SE - Spons ADRSAPGF13,938$3.2M0.04%
210Toray Industries Inc - Unspons890880206270,675$3.2M0.04%
211Southern Copper CorpSCCO27,301$3.2M0.04%
212Airbus SE - Unspons ADRAIIR86,173$3.1M0.04%
213Cisco Systems IncCSCO58,817$3.1M0.04%
214Ollie's Bargain Outlet Holding68111610932,186$3.1M0.04%
215Lonza Group AG - Unspons ADR54338V10148,847$3.1M0.03%
216CyberArk Software LtdM2682V10810,570$3.1M0.03%
217Nestle SA - Spons ADR64106940630,367$3.1M0.03%
218Chord Energy CorpCHRD22,906$3.0M0.03%
219SPDR Portfolio S&P 500 ETF78464A85443,827$3.0M0.03%
220Ping An Insurance Group Co of72341E304235,187$2.9M0.03%
221Iron Mountain Inc46284V10124,369$2.9M0.03%
222Humana IncHUM9,130$2.9M0.03%
223Itau Unibanco Holding SA - Spo465562106433,907$2.9M0.03%
224NVIDIA CorpNVDA23,741$2.9M0.03%
225Duluth Holdings IncDLTH762,777$2.9M0.03%
226WisdomTree Europe Hedged EquitWT63,216$2.8M0.03%
227Vanguard Health Care ETF92204A50410,058$2.8M0.03%
228Canadian Pacific Kansas City LCP33,036$2.8M0.03%
229KION Group AG - Unspons ADR497216101286,422$2.8M0.03%
230Sony Group Corp - Spons ADRSNEJF28,896$2.8M0.03%
231Globus Medical IncGMED38,439$2.7M0.03%
232Alphabet IncGOOG16,168$2.7M0.03%
233Treasury Wine Estates Ltd - Sp89465J109313,194$2.6M0.03%
234Invesco BuyBack Achievers ETFIVZ23,058$2.6M0.03%
235Siemens AG - Spons ADR82619750126,046$2.6M0.03%
236JFrog LtdFROG90,247$2.6M0.03%
237iShares Global Energy ETF46428734162,262$2.5M0.03%
238Daiichi Sankyo Co Ltd - Spons23381D10276,223$2.5M0.03%
239Saia IncSAIA5,655$2.5M0.03%
240Amgen IncAMGN7,591$2.4M0.03%
241Manulife Financial Corp56501R10681,184$2.4M0.03%
242Fomento Economico Mexicano SAB34441910623,835$2.4M0.03%
243Prudential PLC - Spons ADRPUKPF126,289$2.3M0.03%
244STMicroelectronics NV - SponsSTMEF77,959$2.3M0.03%
245Workiva IncWK28,534$2.3M0.03%
246Sika AG - Unspons ADR82674R10368,162$2.3M0.03%
247SPDR S&P Dividend ETF78464A76315,793$2.2M0.03%
248Vanguard Growth ETF9229087365,833$2.2M0.03%
249Mueller Water Products Inc624758108102,090$2.2M0.02%
250NXP Semiconductors NVNXPI8,972$2.2M0.02%
251Norsk Hydro ASA - Spons ADR656531605320,898$2.1M0.02%
252Shell PLC - Spons ADRRYDAF31,160$2.1M0.02%
253Murata Manufacturing Co Ltd -626425102207,454$2.0M0.02%
254S&P Global IncSPGI3,937$2.0M0.02%
255Distillate Small/Mid Cash Flow26922B66756,043$2.0M0.02%
256LVMH Moet Hennessy Louis Vuitt50244130613,142$2.0M0.02%
257Shin-Etsu Chemical Co Ltd - Un82455110595,504$2.0M0.02%
258Meta Platforms IncMETA3,425$2.0M0.02%
259Ferrari NVRACE4,165$2.0M0.02%
260Corning IncGLW43,348$2.0M0.02%
261Shiseido Co Ltd - Spons ADR82484140766,372$1.8M0.02%
262Huntsman CorpHUN74,210$1.8M0.02%
263Mitsubishi UFJ Financial Group606822104171,978$1.8M0.02%
264Air Liquide SA - Unspons ADRAIIR44,044$1.7M0.02%
265Lasertec Corp - Unspons ADR51809L10951,136$1.7M0.02%
266Hillman Solutions CorpHLMN159,430$1.7M0.02%
267Genmab A/S - Spons ADRGNMSF67,689$1.7M0.02%
268Worldline SA/France - Unspons98161H101453,057$1.6M0.02%
269Symrise AG - Unspons ADR87155N10946,561$1.6M0.02%
270AMN Healthcare Services Inc00174410137,327$1.6M0.02%
271Nidec Corp - Spons ADRNODK147,721$1.6M0.02%
272McCormick & Co Inc/MDMKC-V18,749$1.5M0.02%
273Diageo PLC - Spons ADRDGEAF10,877$1.5M0.02%
274Hewlett Packard Enterprise CoHPE-PC74,227$1.5M0.02%
275Schwab Fundamental U.S. Large80852477120,951$1.5M0.02%
276iShares Edge MSCI USA Quality46432F3398,162$1.5M0.02%
277Gogo IncGOGO170,540$1.2M0.01%
278Legalzoom.com IncLZ192,636$1.2M0.01%
279Quest Diagnostics IncDGX7,675$1.2M0.01%
280Allstate CorpALL-PJ5,969$1.1M0.01%
281CF Industries Holdings Inc12526910013,000$1.1M0.01%
282Mastercard IncMA1,934$955,0090.01%
283Agnico Eagle Mines LtdAEM11,486$925,3120.01%
284iShares Russell 1000 Growth ET4642876142,440$915,9270.01%
285Lumen Technologies IncLUMN124,000$880,4000.01%
286Coca-Cola CoKO11,714$841,7680.01%
287General Dynamics CorpGD2,642$798,4120.01%
288Travelers Cos IncTRV3,383$792,0280.01%
289Garmin LtdGRMN4,384$771,7160.01%
290VictoryShares Free Cash Flow E92647X83022,305$742,7570.01%
291Waste Management Inc94106L1093,275$679,8900.01%
292iShares Core S&P U.S. Growth E4642876714,653$613,7770.01%
293Aflac IncAFL4,368$488,3420.01%
294iShares iBoxx High Yield Corpo4642885135,900$473,7700.01%
295Markel CorpMKL285$447,7320.01%
296Broadcom IncAVGO2,485$428,6630.00%
297SPDR Bloomberg 1-3 Month T-Bil78468R6634,371$401,3020.00%
298Discover Financial Services2547091082,844$398,9850.00%
299Alliant Energy CorpLNT6,431$390,3200.00%
300iShares Russell Mid-Cap Growth4642874813,128$366,8830.00%
301iShares Short Treasury Bond ET4642886793,279$362,7560.00%
302iShares Core MSCI EAFE ETF46432F8424,581$357,5470.00%
303Solventum CorpSOLV4,875$339,8850.00%
304Jacobs Solutions IncJ2,578$337,4830.00%
305iShares MBS ETF4642885883,519$337,1550.00%
306Gilead Sciences IncGILD4,000$335,3600.00%
307Thermo Fisher Scientific IncTMO537$332,1720.00%
308Nucor CorpNUE2,200$330,7480.00%
309ARK Innovation ETF00214Q1046,730$319,8770.00%
310PulteGroup Inc7458671012,140$307,1540.00%
311iShares Intermediate Governmen4642886122,860$306,3060.00%
312iShares Russell 2000 Growth ET4642876481,032$293,0880.00%
313MGE Energy IncMGEE3,138$286,9650.00%
314iShares S&P 100 ETF4642871011,002$277,3140.00%
315iShares Russell 2000 ETF4642876551,211$267,4980.00%
316Blackstone Group Inc/TheBX1,731$265,0680.00%
317iShares Russell 1000 ETF464287622835$262,6710.00%
318Walmart IncWMT3,176$256,4620.00%
319Howmet Aerospace IncHWM2,500$250,6250.00%
320Boston Scientific CorpBSX2,950$247,2100.00%
321CSX CorpCSX6,888$237,8430.00%
322Applied Materials Inc0382221051,147$231,7510.00%
323Cigna Corp125523100629$217,9110.00%
324RLI CorpRLI1,394$216,0420.00%
325Verisk Analytics IncVRSK805$215,7080.00%
326Bristol-Myers Squibb CoCELG-RI4,068$210,4780.00%
327Johnson Controls InternationalG515021052,700$209,5470.00%
328iShares Russell Mid-Cap ETF4642874992,286$201,4500.00%