# EDGAR Filing Document

**Accession Number:** 0001976877
**File Stem:** 0001193125-26-244444
**Filing Date:** 2026-5
**Character Count:** 36534
**Document Hash:** 5a1387839744e1f70a2f9f53e1744cf3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-244444.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001193125-26-244444

**CONFORMED SUBMISSION TYPE**: NPORT-P/A

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260528

**DATE AS OF CHANGE**: 20260528

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Madison ETFs Trust
- **CENTRAL INDEX KEY:** 0001976877

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** WI
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P/A
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-23875
- **FILM NUMBER:** 261033379

**BUSINESS ADDRESS:**
- **STREET 1:** 550 SCIENCE DRIVE
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53711
- **BUSINESS PHONE:** 800-767-0300

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

## Series and Classes Contracts Data

### Madison Covered Call ETF (Series ID: S000081094)

| Class ID   | Class Name               | Ticker Symbol   |
|:---|:---|:---|
| C000243765 | Madison Covered Call ETF | CVRD            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Madison Covered Call ETF** | **Madison Covered Call ETF** | **Madison Covered Call ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 95.8%** | **Shares**  | **Value**  |
| **Communications - 8.3%** | **Communications - 8.3%** | |
| Comcast Corp. - Class A <sup>(a)</sup> | 30300 | $869913 |
| Meta Platforms, Inc. - Class A <sup>(a)</sup> | 1500 | 858195 |
| T-Mobile US, Inc. <sup>(a)</sup> | 5400 | 1134162 |
|  |  | 2862270 |
| **Consumer Discretionary - 10.1%** | **Consumer Discretionary - 10.1%** |  |
| Amazon.com, Inc. <sup>(a)(b)</sup> | 5400 | 1124658 |
| Las Vegas Sands Corp. <sup>(a)</sup> | 13500 | 727380 |
| Lowe's Cos., Inc. <sup>(a)</sup> | 4300 | 1016004 |
| NIKE, Inc. - Class B <sup>(a)</sup> | 11200 | 591584 |
|  |  | 3459626 |
| **Consumer Staples - 9.8%** | **Consumer Staples - 9.8%** |  |
| Archer-Daniels-Midland Co. <sup>(a)</sup> | 19000 | 1381110 |
| Constellation Brands, Inc. - Class A <sup>(a)</sup> | 5800 | 870000 |
| PepsiCo, Inc. <sup>(a)</sup> | 7200 | 1118088 |
|  |  | 3369198 |
| **Energy - 7.1%** | **Energy - 7.1%** |  |
| Matador Resources Co. <sup>(a)</sup> | 19000 | 1200420 |
| Transocean Ltd. <sup>(b)</sup> | 190000 | 1259700 |
|  |  | 2460120 |
| **Financials - 13.3%** | **Financials - 13.3%** |  |
| Blackrock, Inc. <sup>(a)</sup> | 1000 | 961710 |
| Fiserv, Inc. <sup>(a)(b)</sup> | 15500 | 864900 |
| Marsh & McLennan Cos., Inc. <sup>(a)</sup> | 5400 | 936630 |
| PayPal Holdings, Inc. <sup>(a)</sup> | 17000 | 768910 |
| Visa, Inc. - Class A <sup>(a)</sup> | 3400 | 1027616 |
|  |  | 4559766 |
| **Health Care - 7.1%** | **Health Care - 7.1%** |  |
| Agilent Technologies, Inc. <sup>(a)</sup> | 9500 | 1082810 |
| Danaher Corp. <sup>(a)</sup> | 7200 | 1365120 |
|  |  | 2447930 |
| **Industrials - 7.3%** | **Industrials - 7.3%** |  |
| Honeywell International, Inc. <sup>(a)</sup> | 4200 | 949326 |
| Illinois Tool Works, Inc. <sup>(a)</sup> | 2600 | 676754 |
| Union Pacific Corp. <sup>(a)</sup> | 3700 | 897694 |
|  |  | 2523774 |
| **Materials - 2.4%** | **Materials - 2.4%** |  |
| Newmont Corp. <sup>(a)</sup> | 7500 | 811875 |
| **Technology - 28.2% <sup>(c)</sup>** | **Technology - 28.2% <sup>(c)</sup>** |  |
| Accenture PLC - Class A <sup>(a)</sup> | 5300 | 1050937 |
| Adobe, Inc. <sup>(a)(b)</sup> | 4400 | 1069552 |
| Broadcom, Inc. <sup>(a)</sup> | 3000 | 928530 |
| Microchip Technology, Inc. <sup>(a)</sup> | 20000 | 1292200 |
| Microsoft Corp. <sup>(a)</sup> | 3300 | 1221561 |
| Palo Alto Networks, Inc. <sup>(a)(b)</sup> | 4500 | 721440 |
| QUALCOMM, Inc. <sup>(a)</sup> | 8200 | 1055996 |
| Salesforce, Inc. <sup>(a)</sup> | 5000 | 933350 |
| Synopsys, Inc. <sup>(a)(b)</sup> | 1800 | 713664 |
| Texas Instruments, Inc. <sup>(a)</sup> | 3600 | 698904 |
|  |  | 9686134 |
| **Utilities - 2.2%** | **Utilities - 2.2%** |  |
| AES Corp. | 53000 | 746770 |
| **TOTAL COMMON STOCKS** (Cost $40,304,597) | **TOTAL COMMON STOCKS** (Cost $40,304,597) | 32927463 |
| **REAL ESTATE INVESTMENT TRUSTS - COMMON - 2.9%** | **Shares**  | **Value**  |
| **Real Estate - 2.9%** | **Real Estate - 2.9%** |  |
| American Tower Corp. <sup>(a)</sup> | 5800 | 1000964 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $1,347,953) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $1,347,953) | 1000964 |
| **TOTAL INVESTMENTS - 98.7% (**Cost $41,652,550**)** | **TOTAL INVESTMENTS - 98.7% (**Cost $41,652,550**)** | 33928427 |
| Money Market Deposit Account - 3.6% <sup>(d)</sup> | Money Market Deposit Account - 3.6% <sup>(d)</sup> | 1243188 |
| Liabilities in Excess of Other Assets - (2.3)% | Liabilities in Excess of Other Assets - (2.3)% | (813028) |
| **TOTAL NET ASSETS - 100.0%** |  | $34358587 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

(a) Held in connection with written option contracts. See Schedule of Written Options for further information.

(b) Non-income producing security.

(c) To the extent that the Fund invests more heavily in a particular industry or sector of the economy, its performance will be especially sensitive to developments that significantly affect those industries or sectors.

(d) The U.S. Bank Money Market Deposit Account (the "MMDA") is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on market conditions and
 is subject to change daily. The rate as of March 31, 2026 was 3.45%.

------

---

| | | | |
|:---|:---|:---|:---|
| **Madison Covered Call ETF** | **Madison Covered Call ETF** | **Madison Covered Call ETF** | **Madison Covered Call ETF** |
| **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** | **Schedule of Written Options** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **WRITTEN OPTIONS - (2.5)%** | **Notional Amount** | **Contracts** | **Value** |
| **Call Options - (2.5)% <sup>(a)(b)</sup>** | **Call Options - (2.5)% <sup>(a)(b)</sup>** | **Call Options - (2.5)% <sup>(a)(b)</sup>** | **Call Options - (2.5)% <sup>(a)(b)</sup>** |
| Accenture PLC, Expiration: 06/18/2026; Exercise Price: $230.00 | $(1050937) | (53) | $(25705) |
| Adobe, Inc., Expiration: 05/15/2026; Exercise Price: $270.00 | (1069552) | (44) | (19140) |
| Agilent Technologies, Inc., Expiration: 06/18/2026; Exercise Price: $130.00 | (1082810) | (95) | (25175) |
| Amazon.com, Inc., Expiration: 06/18/2026; Exercise Price: $240.00 | (1124658) | (54) | (22005) |
| American Tower Corp., Expiration: 06/18/2026; Exercise Price: $190.00 | (1000964) | (58) | (18125) |
| Archer-Daniels-Midland Co., Expiration: 06/18/2026; Exercise Price: $75.00 | (1381110) | (190) | (68400) |
| Blackrock, Inc., Expiration: 06/18/2026; Exercise Price: $1,100.00 | (961710) | (10) | (14500) |
| Broadcom, Inc., Expiration: 06/18/2026; Exercise Price: $350.00 | (928530) | (30) | (41250) |
| Comcast Corp., Expiration: 06/18/2026; Exercise Price: $35.00 | (869913) | (303) | (4848) |
| Constellation Brands, Inc., Expiration: 06/18/2026; Exercise Price: $170.00 | (870000) | (58) | (15950) |
| Danaher Corp., Expiration: 05/15/2026; Exercise Price: $230.00 | (1365120) | (72) | (2160) |
| Fiserv, Inc., Expiration: 06/18/2026; Exercise Price: $70.00 | (864900) | (155) | (25187) |
| Honeywell International, Inc., Expiration: 06/18/2026; Exercise Price: $240.00 | (949326) | (42) | (25200) |
| Illinois Tool Works, Inc., Expiration: 05/15/2026; Exercise Price: $270.00 | (676754) | (26) | (15340) |
| Las Vegas Sands Corp., Expiration: 04/17/2026; Exercise Price: $62.50 | (727380) | (135) | (4388) |
| Lowe's Cos., Inc., Expiration: 06/18/2026; Exercise Price: $260.00 | (1016004) | (43) | (23543) |
| Marsh & McLennan Cos., Inc., Expiration: 04/17/2026; Exercise Price: $200.00 | (936630) | (54) | (5265) |
| Matador Resources Co., Expiration: 06/18/2026; Exercise Price: $60.00 | (1124604) | (178) | (121930) |
| Meta Platforms, Inc., Expiration: 06/18/2026; Exercise Price: $630.00 | (858195) | (15) | (31763) |
| Microchip Technology, Inc., Expiration: 06/18/2026; Exercise Price: $75.00 | (1292200) | (200) | (54500) |
| Microsoft Corp., Expiration: 06/18/2026; Exercise Price: $430.00 | (1221561) | (33) | (14602) |
| Newmont Corp., Expiration: 05/15/2026; Exercise Price: $115.00 | (811875) | (75) | (42938) |
| NIKE, Inc., Expiration: 06/18/2026; Exercise Price: $60.00 | (591584) | (112) | (18760) |
| Palo Alto Networks, Inc., Expiration: 05/15/2026; Exercise Price: $170.00 | (721440) | (45) | (23625) |
| PayPal Holdings, Inc., Expiration: 06/18/2026; Exercise Price: $55.00 | (768910) | (170) | (16575) |
| PepsiCo, Inc., Expiration: 04/17/2026; Exercise Price: $155.00 | (1118088) | (72) | (34560) |
| QUALCOMM, Inc. |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 05/15/2026; Exercise Price: $165.00 | (450730) | (35) | (997) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Expiration: 06/18/2026; Exercise Price: $150.00 | (605266) | (47) | (11444) |
| Salesforce, Inc., Expiration: 06/18/2026; Exercise Price: $200.00 | (933350) | (50) | (49125) |
| Synopsys, Inc., Expiration: 05/15/2026; Exercise Price: $440.00 | (713664) | (18) | (19260) |
| Texas Instruments, Inc., Expiration: 06/18/2026; Exercise Price: $220.00 | (698904) | (36) | (15930) |
| T-Mobile US, Inc., Expiration: 05/15/2026; Exercise Price: $240.00 | (1134162) | (54) | (9342) |
| Union Pacific Corp., Expiration: 06/18/2026; Exercise Price: $260.00 | (897694) | (37) | (21275) |
| Visa, Inc., Expiration: 05/15/2026; Exercise Price: $330.00 | (1027616) | (34) | (9129) |
| **TOTAL WRITTEN OPTIONS** (Premiums received $879,447) |  |  | $(851936) |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |

---

(a) 100 shares per contract.

(b) Exchange-traded.

------

#### Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
Madison Covered Call ETF (the "Fund") has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund's securities as of March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| **Assets:** | | | | |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $32927463 | $– | $– | $32927463 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 1000964 | – | – | 1000964 |
| Total Investments | $33928427 | $– | $– | $33928427 |
| **Liabilities:** |  |  |  |  |
| <u>Investments:</u> |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Written Options | $– | $(851936) | $– | $(851936) |
| Total Investments | $– | $(851936) | $– | $(851936) |
| Refer to the Schedule of Investments and Schedule of Written Options for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Written Options for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Written Options for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Written Options for further disaggregation of investment categories. | Refer to the Schedule of Investments and Schedule of Written Options for further disaggregation of investment categories. |

---

## 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 ETFs Trust

- **b. Investment Company Act file number:** 811-23875

- **c. CIK number of Registrant:** 0001976877

- **d. LEI of Registrant:** 5493000I8Q6MKWCG2407

- **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:** 800-767-0300

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

- **a. Name of Series:** Madison Covered Call ETF

- **b. EDGAR series identifier (if any):** S000081094

- **c. LEI of Series:** 5493000IABPYPS2KRC89

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

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2026-03-31

**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:** $35237376.02

**Total Liabilities:** $878791.20

**Net Assets:** $34358584.82

**Cash Not Reported:** $53569.13

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243765 | 2.22%                | 0.58%                | -3.63%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $659396.93               | $561404.83                                 |
| Month 2  | $470704.17               | $-559462.85                                |
| Month 3  | $-434557.94              | $-1388328.03                               |

**Designated Index Information**

- **Index Name:** Fund's Securities Portfolio

- **Index Identifier:** Y7FG02MDEF

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AES Corp/The                | AES Corp/The                | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |     53000 | NS      | $746770.00    | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                   | Adobe Inc                   | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      4400 | NS      | $1069552.00   | 3.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Agilent Technologies Inc    | Agilent Technologies Inc    | CUSIP: 00846U101<br>LEI: QUIX8Y7A2WP0XRMW7G29 | Long             | EC               | CORP              | US        |      9500 | NS      | $1082810.00   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Accenture PLC               | Accenture PLC               | CUSIP: N/A<br>LEI: 5493000EWHDSR3MZWH98       | Long             | EC               | CORP              | IE        |      5300 | NS      | $1050937.00   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                         | Agilent Technologies Inc    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -95 | NC      | $-25175.00    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Accenture PLC               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -53 | NC      | $-25705.00    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Adobe Inc                   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -44 | NC      | $-19140.00    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Salesforce Inc              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -50 | NC      | $-49125.00    | -0.14%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Synopsys Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -18 | NC      | $-19260.00    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | T-Mobile US Inc             | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -54 | NC      | $-9342.00     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Texas Instruments Inc       | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -36 | NC      | $-15930.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Amazon.com Inc              | Amazon.com Inc              | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |      5400 | NS      | $1124658.00   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp         | American Tower Corp         | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |      5800 | NS      | $1000964.00   | 2.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co   | Archer-Daniels-Midland Co   | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     19000 | NS      | $1381110.00   | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc               | Blackrock Inc               | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      1000 | NS      | $961710.00    | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                         | Microsoft Corp              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -33 | NC      | $-14602.50    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Newmont Corp                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -75 | NC      | $-42937.50    | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | NIKE Inc                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -112 | NC      | $-18760.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Palo Alto Networks Inc      | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -45 | NC      | $-23625.00    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | PayPal Holdings Inc         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -170 | NC      | $-16575.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| Newmont Corp                | Newmont Corp                | CUSIP: 651639106<br>LEI: 549300VSP3RIX7FGDZ51 | Long             | EC               | CORP              | US        |      7500 | NS      | $811875.00    | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| NIKE Inc                    | NIKE Inc                    | CUSIP: 654106103<br>LEI: 787RXPR0UX0O0XUXPZ81 | Long             | EC               | CORP              | US        |     11200 | NS      | $591584.00    | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc      | Palo Alto Networks Inc      | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |      4500 | NS      | $721440.00    | 2.10%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                         | Archer-Daniels-Midland Co   | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -190 | NC      | $-68400.00    | -0.20%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | American Tower Corp         | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -58 | NC      | $-18125.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Amazon.com Inc              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -54 | NC      | $-22005.00    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Union Pacific Corp          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -37 | NC      | $-21275.00    | -0.06%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Visa Inc                    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -34 | NC      | $-9129.00     | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| Broadcom Inc                | Broadcom Inc                | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |      3000 | NS      | $928530.00    | 2.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corp                | Comcast Corp                | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |     30300 | NS      | $869913.00    | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Brands Inc    | Constellation Brands Inc    | CUSIP: 21036P108<br>LEI: 5493005GKEG8QCVY7037 | Long             | EC               | CORP              | US        |      5800 | NS      | $870000.00    | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Danaher Corp                | Danaher Corp                | CUSIP: 235851102<br>LEI: S4BKK9OTCEWQ3YHPFM11 | Long             | EC               | CORP              | US        |      7200 | NS      | $1365120.00   | 3.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc          | Meta Platforms Inc          | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |      1500 | NS      | $858195.00    | 2.50%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                  | Fiserv Inc                  | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |     15500 | NS      | $864900.00    | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc | Honeywell International Inc | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |      4200 | NS      | $949326.00    | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc     | Illinois Tool Works Inc     | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      2600 | NS      | $676754.00    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Las Vegas Sands Corp        | Las Vegas Sands Corp        | CUSIP: 517834107<br>LEI: 549300DUOO1KXOHPM605 | Long             | EC               | CORP              | US        |     13500 | NS      | $727380.00    | 2.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc              | Lowe's Cos Inc              | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      4300 | NS      | $1016004.00   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc    | Marsh & McLennan Cos Inc    | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      5400 | NS      | $936630.00    | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| Matador Resources Co        | Matador Resources Co        | CUSIP: 576485205<br>LEI: 549300CI3Q2UUK5R4G79 | Long             | EC               | CORP              | US        |     19000 | NS      | $1200420.00   | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp              | Microsoft Corp              | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |      3300 | NS      | $1221561.00   | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc    | Microchip Technology Inc    | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     20000 | NS      | $1292200.00   | 3.76%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc         | PayPal Holdings Inc         | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     17000 | NS      | $768910.00    | 2.24%             |  |  |  | No            |                  1 | On Loan: No      |
| PepsiCo Inc                 | PepsiCo Inc                 | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |      7200 | NS      | $1118088.00   | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc                | QUALCOMM Inc                | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |      8200 | NS      | $1055996.00   | 3.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Salesforce Inc              | Salesforce Inc              | CUSIP: 79466L302<br>LEI: RCGZFPDMRW58VJ54VR07 | Long             | EC               | CORP              | US        |      5000 | NS      | $933350.00    | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                | Synopsys Inc                | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |      1800 | NS      | $713664.00    | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc             | T-Mobile US Inc             | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      5400 | NS      | $1134162.00   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc       | Texas Instruments Inc       | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |      3600 | NS      | $698904.00    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| US BANK MMDA - USBGFS 9     | US BANK MMDA - USBGFS 9     | CUSIP: N/A<br>LEI: N/A                        | Long             | STIV             | RF                | US        |   1220269 | NS      | $1220268.94   | 3.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp          | Union Pacific Corp          | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      3700 | NS      | $897694.00    | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Visa Inc                    | Visa Inc                    | CUSIP: 92826C839<br>LEI: 549300JZ4OKEHW3DPJ59 | Long             | EC               | CORP              | US        |      3400 | NS      | $1027616.00   | 2.99%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                         | Broadcom Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -30 | NC      | $-41250.00    | -0.12%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Blackrock Inc               | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -10 | NC      | $-14500.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Comcast Corp                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -303 | NC      | $-4848.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Danaher Corp                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -72 | NC      | $-2160.00     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Fiserv Inc                  | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -155 | NC      | $-25187.50    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| Transocean Ltd              | Transocean Ltd              | CUSIP: N/A<br>LEI: 529900QO4W5DQGBGEF32       | Long             | EC               | CORP              | CH        |    190000 | NS      | $1259700.00   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| N/A                         | Honeywell International Inc | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -42 | NC      | $-25200.00    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Illinois Tool Works Inc     | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -26 | NC      | $-15340.00    | -0.04%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Lowe's Cos Inc              | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -43 | NC      | $-23542.50    | -0.07%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Las Vegas Sands Corp        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -135 | NC      | $-4387.50     | -0.01%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Microchip Technology Inc    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -200 | NC      | $-54500.00    | -0.16%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Meta Platforms Inc          | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -15 | NC      | $-31762.50    | -0.09%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Marsh & McLennan Cos Inc    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -54 | NC      | $-5265.00     | -0.02%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Matador Resources Co        | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |      -178 | NC      | $-121930.00   | -0.35%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | PepsiCo Inc                 | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -72 | NC      | $-34560.00    | -0.10%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | QUALCOMM Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -35 | NC      | $-997.50      | -0.00%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | QUALCOMM Inc                | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -47 | NC      | $-11444.50    | -0.03%            |  |  |  | No            |                  2 | On Loan: No      |
| N/A                         | Constellation Brands Inc    | CUSIP: N/A<br>LEI: N/A                        | N/A              | DE               |  | US        |       -58 | NC      | $-15950.00    | -0.05%            |  |  |  | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-05-22

**Name of Applicant:** Madison ETFs Trust

**Signature:** /s/ Greg D. Hoppe

**Name of Signer:** Greg D. Hoppe

**Title:** Chief Financial Officer