# EDGAR Filing Document

**Accession Number:** 0001040612
**File Stem:** 0001752724-25-146760
**Filing Date:** 2025-6
**Character Count:** 27960
**Document Hash:** 2b6708cfb7e3238949dec2b51c07acac
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-146760.hdr.sgml**: 20250617

**ACCESSION NUMBER**: 0001752724-25-146760

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250430

**FILED AS OF DATE**: 20250617

**DATE AS OF CHANGE**: 20250617

**PERIOD START**: 20251031

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MADISON FUNDS
- **CENTRAL INDEX KEY:** 0001040612

**ORGANIZATION NAME:**
- **EIN:** 391894316
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08261
- **FILM NUMBER:** 251052046

**BUSINESS ADDRESS:**
- **STREET 1:** 550 SCIENCE DRIVE
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53711
- **BUSINESS PHONE:** 6082740300

**MAIL ADDRESS:**
- **STREET 1:** 550 SCIENCE DRIVE
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53711

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MEMBERS MUTUAL FUNDS
- **DATE OF NAME CHANGE:** 19970609

## Series and Classes Contracts Data

### Madison Covered Call & Equity Income Fund (Series ID: S000026831)

| Class ID   | Class Name                                 | Ticker Symbol   |
|:---|:---|:---|
| C000080723 | Covered Call & Equity Income Fund Class A  | menax           |
| C000080724 | Covered Call & Equity Income Fund Class Y  | menyx           |
| C000116936 | Covered Call & Equity Income Fund Class R6 | MENRX           |
| C000235946 | Covered Call & Equity Income Fund Class I  | MENIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** MADISON FUNDS

- **b. Investment Company Act file number:** 811-08261

- **c. CIK number of Registrant:** 0001040612

- **d. LEI of Registrant:** 25490037IZEAAJ1OT743

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 550 SCIENCE DRIVE

  - **City:** MADISON

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53711

  - **Telephone number:** 608-274-0300

**Item A.2. Information about the Series.**

- **a. Name of Series:** Madison Covered Call & Equity Income Fund

- **b. EDGAR series identifier (if any):** S000026831

- **c. LEI of Series:** 254900477U55H8MDFD06

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-10-31

- **b. Date as of which information is reported:** 2025-04-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $199126866.86

**Total Liabilities:** $5767489.10

**Net Assets:** $193359377.76

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000116936 | -1.24%               | -1.26%               | -4.21%               |
| Class ID C000080724 | -1.17%               | -1.18%               | -4.19%               |
| Class ID C000235946 | -1.17%               | -1.29%               | -4.19%               |
| Class ID C000080723 | -6.86%               | -6.94%               | -9.68%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $358281.37               | $-3973596.64                               |
| Month 2  | $0.00                    | $-4147023.21                               |
| Month 3  | $0.00                    | $-10219726.20                              |

**Designated Index Information**

- **Index Name:** Securities Portfolio VaR

- **Index Identifier:** Designated Reference Portfolio is the Fund`s Securities Portfolio

### Schedule of Portfolio Investments

| Name                         | Title                                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Honeywell International Inc  | Honeywell International, Inc.                              | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     26000 | NS      | $5473000.00   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |       -82 | NC      | $-7585.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC                | Accenture PLC                                              | CUSIP: 000000000<br>LEI: 5493000EWHDSR3MZWH98 | Long             | EC               | CORP              | IE        |     12600 | NS      | $3769290.00   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IE        |      -861 | NC      | $-28413.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson            | Johnson & Johnson                                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     25000 | NS      | $3907750.00   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -744 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                | Amphenol Corp.                                             | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |     45000 | NS      | $3462750.00   | 1.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -1025 | NC      | $-3587.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -280 | NC      | $-13440.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -903 | NC      | $-47407.50    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc     | Agilent Technologies, Inc.                                 | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |     43000 | NS      | $4626800.00   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | CA        |      -500 | NC      | $-136000.00   | -0.07%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | NL        |       -65 | NC      | $-6987.50     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -110 | NC      | $-43450.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -450 | NC      | $-21375.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Transocean Ltd               | Transocean Ltd.                                            | CUSIP: 000000000<br>LEI: 529900QO4W5DQGBGEF32 | Long             | EC               | CORP              | CH        |   1700000 | NS      | $3621000.00   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                 | Comcast Corp.                                              | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     86000 | NS      | $2941200.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                | Medtronic PLC                                              | CUSIP: 000000000<br>LEI: 549300GX3ZBSQWUXY261 | Long             | EC               | CORP              | IE        |     86100 | NS      | $7297836.00   | 3.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc   | Advanced Micro Devices, Inc.                               | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |     28000 | NS      | $2725800.00   | 1.41%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                  | PepsiCo, Inc.                                              | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |     38100 | NS      | $5165598.00   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc        | Texas Instruments, Inc.                                    | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     24100 | NS      | $3857205.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc          | PayPal Holdings, Inc.                                      | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     82000 | NS      | $5398880.00   | 2.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc     | Microchip Technology, Inc.                                 | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     78000 | NS      | $3594240.00   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -295 | NC      | $-172575.00   | -0.09%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -180 | NC      | $-66600.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV              | ASML Holding NV                                            | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      6500 | NS      | $4342520.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co    | Archer-Daniels-Midland Co.                                 | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     96000 | NS      | $4584000.00   | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -241 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc               | Lowe's Cos., Inc.                                          | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |     14000 | NS      | $3129840.00   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -730 | NC      | $-312075.00   | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -500 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp          | American Tower Corp.                                       | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               |  | US        |     29500 | NS      | $6649595.00   | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Dollar Tree Inc              | Dollar Tree, Inc.                                          | CUSIP: 256746108<br>LEI: 549300PMSTQITB1WHR43 | Long             | EC               | CORP              | US        |     73000 | NS      | $5969210.00   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -116 | NC      | $-26622.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc      | Rockwell Automation, Inc.                                  | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |     15300 | NS      | $3789504.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc     | Constellation Brands, Inc.                                 | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |     22100 | NS      | $4144634.00   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                    | Adobe, Inc.                                                | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     11600 | NS      | $4349768.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Barrick Gold Corp            | Barrick Gold Corp.                                         | CUSIP: 067901108<br>LEI: 0O4KBQCJZX82UKGCBV73 | Long             | EC               | CORP              | CA        |    385000 | NS      | $7330400.00   | 3.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc                 | Alphabet, Inc.                                             | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |     18000 | NS      | $2896020.00   | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| CVS Health Corp              | CVS Health Corp.                                           | CUSIP: 126650100<br>LEI: 549300EJG376EN5NQE29 | Long             | EC               | CORP              | US        |     90300 | NS      | $6023913.00   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -221 | NC      | $-61327.50    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Hershey Co/The               | Hershey Co.                                                | CUSIP: 427866108<br>LEI: 21X2CX66SU2BR6QTAD08 | Long             | EC               | CORP              | US        |     31000 | NS      | $5182890.00   | 2.68%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | CA        |     -3850 | NC      | $-80850.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                  | Cameco Corp.                                               | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |     50000 | NS      | $2257500.00   | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -480 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -1025 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -150 | NC      | $-18375.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -153 | NC      | $-31365.00    | -0.02%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -140 | NC      | $-23730.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -860 | NC      | $-6880.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -450 | NC      | $-308250.00   | -0.16%            |  |  |  | No            |                  1 | On Loan: No      |
| APA Corp                     | APA Corp.                                                  | CUSIP: 03743Q108<br>LEI: 549300VCIWLRHYVSHC79 | Long             | EC               | CORP              | US        |    205000 | NS      | $3185700.00   | 1.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The      | Charles Schwab Corp.                                       | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |     45000 | NS      | $3663000.00   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Pfizer Inc                   | Pfizer, Inc.                                               | CUSIP: 717081103<br>LEI: 765LHXWGK1KXCLTFYQ30 | Long             | EC               | CORP              | US        |    123000 | NS      | $3002430.00   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -381 | NC      | $-9144.00     | -0.00%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -3010 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Instruments Inc          | MKS Instruments, Inc.                                      | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |     50000 | NS      | $3507000.00   | 1.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -250 | NC      | $-15000.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| AES Corp/The                 | AES Corp.                                                  | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    602000 | NS      | $6020000.00   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co         | Matador Resources Co.                                      | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |    137000 | NS      | $5416980.00   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -820 | NC      | $-16810.00    | -0.01%            |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                 | Danaher Corp.                                              | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |     25000 | NS      | $4983250.00   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc              | T-Mobile U.S., Inc.                                        | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |     15500 | NS      | $3827725.00   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | IE        |      -126 | NC      | $-57330.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors | State Street Institutional US Government Money Market Fund | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  31086432 | NS      | $31086432.08  | 16.08%            |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp         | Las Vegas Sands Corp.                                      | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |    216000 | NS      | $7920720.00   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -960 | NC      | $-52800.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |     -1370 | NC      | $0.00         | 0.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -692 | NC      | $-83386.00    | -0.04%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -228 | NC      | $-59850.00    | -0.03%            |  |  |  | No            |                  1 | On Loan: No      |
| Options Clearing Corp.       | Option                                                     | CUSIP: 000000000<br>LEI: 549300CII6SLYGKNHA04 | N/A              | DE               |  | US        |      -155 | NC      | $-296050.00   | -0.15%            |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips               | ConocoPhillips                                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     69200 | NS      | $6167104.00   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-05-20

**Name of Applicant:** MADISON FUNDS

**Signature:** Greg Hoppe

**Name of Signer:** Greg Hoppe

**Title:** Chief Financial Officer