# EDGAR Filing Document

**Accession Number:** 0001040612
**File Stem:** 0001410368-26-064090
**Filing Date:** 2026-6
**Character Count:** 17711
**Document Hash:** 05b6f8e13b3af715eb1d07585c65758d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-064090.hdr.sgml**: 20260623

**ACCESSION NUMBER**: 0001410368-26-064090

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20260430

**FILED AS OF DATE**: 20260623

**DATE AS OF CHANGE**: 20260623

**PERIOD START**: 20261031

**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:** 261111825

**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 Mid Cap Fund (Series ID: S000020651)

| Class ID   | Class Name            | Ticker Symbol   |
|:---|:---|:---|
| C000057652 | Mid Cap Fund Class A  | merax           |
| C000057654 | Mid Cap Fund Class Y  | GTSGX           |
| C000124803 | Mid Cap Fund Class R6 | MMCRX           |
| C000221332 | Mid Cap Fund Class I  | MDCIX           |

## 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 Mid Cap Fund

- **b. EDGAR series identifier (if any):** S000020651

- **c. LEI of Series:** 254900GFBYFLI6QYMW95

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

- **a. Date of fiscal year-end:** 2026-10-31

- **b. Date as of which information is reported:** 2026-04-30

**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:** $1800081098.98

**Total Liabilities:** $12397850.11

**Net Assets:** $1787683248.87

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000124803 | -0.46%               | -7.41%               | 2.71%                |
| Class ID C000057654 | -0.54%               | -7.34%               | 2.66%                |
| Class ID C000221332 | -0.54%               | -7.33%               | 2.66%                |
| Class ID C000057652 | -6.23%               | -12.72%              | -3.28%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $42242930.63             | $-53051321.91                              |
| Month 2  | $-9067191.63             | $-134117308.58                             |
| Month 3  | $-14993499.57            | $63256366.10                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Teledyne Technologies Inc                  | Teledyne Technologies, Inc.                                                 | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |     96315 | NS      | $62205042.75  | 3.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Expeditors International of Washington Inc | Expeditors International of Washington, Inc.                                | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |    230968 | NS      | $34157857.52  | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Amphenol Corp                              | Amphenol Corp.                                                              | CUSIP: 032095101<br>LEI: 549300D3L3G0R4U4VT04 | Long             | EC               | CORP              | US        |    605039 | NS      | $89104093.53  | 4.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Brookfield Asset Management Ltd            | Brookfield Asset Management Ltd.                                            | CUSIP: 113004105<br>LEI: 549300CZ84WPNJZKY093 | Long             | EC               | CORP              | CA        |    822237 | NS      | $39475598.37  | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Arch Capital Group Ltd                     | Arch Capital Group Ltd.                                                     | CUSIP: 000000000<br>LEI: 549300AYR4P8AFKDCE43 | Long             | EC               | CORP              | BM        |   1465028 | NS      | $138386544.88 | 7.74%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors               | State Street Navigator Securities Lending Government Money Market Portfolio | CUSIP: 857509301<br>LEI: 5493008BJIBKQ5KTIF74 | Long             | STIV             | RF                | US        |  11128410 | NS      | $11128410.00  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Lithia Motors Inc                          | Lithia Motors, Inc.                                                         | CUSIP: 536797103<br>LEI: SE8N1EZEHPZQBCBVKD53 | Long             | EC               | CORP              | US        |    122995 | NS      | $35683309.40  | 2.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Asbury Automotive Group Inc                | Asbury Automotive Group, Inc.                                               | CUSIP: 043436104<br>LEI: 549300JH4DTA7U42GL91 | Long             | EC               | CORP              | US        |    162898 | NS      | $33180693.62  | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| CDW Corp/DE                                | CDW Corp.                                                                   | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |    435412 | NS      | $59612256.92  | 3.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Tyler Technologies Inc                     | Tyler Technologies, Inc.                                                    | CUSIP: 902252105<br>LEI: 25490040SMU4Z8LBCW70 | Long             | EC               | CORP              | US        |     78828 | NS      | $26891383.92  | 1.50%             |  |  |  | No            |                  1 | On Loan: No      |
| A O Smith Corp                             | A.O. Smith Corp.                                                            | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |    560833 | NS      | $34681912.72  | 1.94%             |  |  |  | No            |                  1 | On Loan: No      |
| W R Berkley Corp                           | W.R. Berkley Corp.                                                          | CUSIP: 084423102<br>LEI: SQOAGCLKBDWNVYV1OV80 | Long             | EC               | CORP              | US        |    783077 | NS      | $52333035.91  | 2.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Gartner Inc                                | Gartner, Inc.                                                               | CUSIP: 366651107<br>LEI: PP55B5R38BFB8O8HH686 | Long             | EC               | CORP              | US        |    237462 | NS      | $35260732.38  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| ServiceTitan Inc                           | ServiceTitan, Inc.                                                          | CUSIP: 81764X103<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    443667 | NS      | $26380439.82  | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| PACCAR Inc                                 | PACCAR, Inc.                                                                | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |    549019 | NS      | $65223457.20  | 3.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Carlisle Cos Inc                           | Carlisle Cos., Inc.                                                         | CUSIP: 142339100<br>LEI: XR64VGX1ZPX6G7ZN7Z11 | Long             | EC               | CORP              | US        |    215085 | NS      | $76411097.10  | 4.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Bentley Systems Inc                        | Bentley Systems, Inc.                                                       | CUSIP: 08265T208<br>LEI: 549300WVEHPGE0Z56F71 | Long             | EC               | CORP              | US        |    483844 | NS      | $15782991.28  | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| MSA Safety Inc                             | MSA Safety, Inc.                                                            | CUSIP: 553498106<br>LEI: 529900DVA3258XK11O39 | Long             | EC               | CORP              | US        |    288632 | NS      | $48025478.48  | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Medpace Holdings Inc                       | Medpace Holdings, Inc.                                                      | CUSIP: 58506Q109<br>LEI: 549300H8TYEUVTW14A54 | Long             | EC               | CORP              | US        |    125695 | NS      | $52623468.70  | 2.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Labcorp Holdings Inc                       | Labcorp Holdings, Inc.                                                      | CUSIP: 504922105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    237853 | NS      | $61080650.40  | 3.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                        | Arista Networks, Inc.                                                       | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |    246069 | NS      | $42498576.99  | 2.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty Formula One     | Liberty Media Corp.-Liberty Formula One                                     | CUSIP: 531229771<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    454863 | NS      | $36025149.60  | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Global Advisors               | State Street Institutional U.S. Government Money Market Fund                | CUSIP: 857492706<br>LEI: 549300BZ5TGIFZUZDZ37 | Long             | STIV             | RF                | US        |  84497557 | NS      | $84497557.30  | 4.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                            | Ross Stores, Inc.                                                           | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |    686919 | NS      | $156473279.01 | 8.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Bio-Techne Corp                            | Bio-Techne Corp.                                                            | CUSIP: 09073M104<br>LEI: 54930073RLKQ51TILZ35 | Long             | EC               | CORP              | US        |    548784 | NS      | $30358730.88  | 1.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Cullen/Frost Bankers Inc                   | Cullen/Frost Bankers, Inc.                                                  | CUSIP: 229899109<br>LEI: 529900V2E9G9AY665O34 | Long             | EC               | CORP              | US        |    163876 | NS      | $23750548.68  | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Brown & Brown Inc                          | Brown & Brown, Inc.                                                         | CUSIP: 115236101<br>LEI: 549300PC8KTJ71XKFY89 | Long             | EC               | CORP              | US        |   1129060 | NS      | $67912959.00  | 3.80%             |  |  |  | No            |                  1 | On Loan: No      |
| MKS Inc                                    | MKS, Inc.                                                                   | CUSIP: 55306N104<br>LEI: 549300KEQATBHAGVF505 | Long             | EC               | CORP              | US        |    162272 | NS      | $46044680.00  | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Liberty Media Corp-Liberty Formula One     | Liberty Media Corp.-Liberty Formula One                                     | CUSIP: 531229755<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    318768 | NS      | $27398109.60  | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                                 | Copart, Inc.                                                                | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |   1640958 | NS      | $54332119.38  | 3.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Kinsale Capital Group Inc                  | Kinsale Capital Group, Inc.                                                 | CUSIP: 49714P108<br>LEI: 529900QTUQHNZ6HOA508 | Long             | EC               | CORP              | US        |     70495 | NS      | $22812886.95  | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Moelis & Co                                | Moelis & Co.                                                                | CUSIP: 60786M105<br>LEI: 549300891QNU7VTQUR83 | Long             | EC               | CORP              | US        |    852594 | NS      | $55520921.28  | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Glacier Bancorp Inc                        | Glacier Bancorp, Inc.                                                       | CUSIP: 37637Q105<br>LEI: 549300SMJAUKZB5D7V74 | Long             | EC               | CORP              | US        |    447579 | NS      | $21953749.95  | 1.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Thor Industries Inc                        | Thor Industries, Inc.                                                       | CUSIP: 885160101<br>LEI: 254900XZO1228PDSG060 | Long             | EC               | CORP              | US        |    477780 | NS      | $37763731.20  | 2.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Waters Corp                                | Waters Corp.                                                                | CUSIP: 941848103<br>LEI: 5T547R1474YC9HOD8Q74 | Long             | EC               | CORP              | US        |    133597 | NS      | $41312200.31  | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Graco Inc                                  | Graco, Inc.                                                                 | CUSIP: 384109104<br>LEI: 4T5VJ4S81BRT6Q7GGT78 | Long             | EC               | CORP              | US        |    215242 | NS      | $17277475.34  | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Floor & Decor Holdings Inc                 | Floor & Decor Holdings, Inc.                                                | CUSIP: 339750101<br>LEI: 549300M5FR3N688XGQ36 | Long             | EC               | CORP              | US        |    721267 | NS      | $34909322.80  | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-14

**Name of Applicant:** MADISON FUNDS

**Signature:** Greg Hoppe

**Name of Signer:** Greg Hoppe

**Title:** Chief Financial Officer