# EDGAR Filing Document

**Accession Number:** 0001976877
**File Stem:** 0001193125-26-244446
**Filing Date:** 2026-5
**Character Count:** 22616
**Document Hash:** ec59f83a4923bd6cd4f4ca1817b5de5b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-244446.hdr.sgml**: 20260528

**ACCESSION NUMBER**: 0001193125-26-244446

**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:** 261033380

**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 Dividend Value ETF (Series ID: S000081096)

| Class ID   | Class Name                 | Ticker Symbol   |
|:---|:---|:---|
| C000243767 | Madison Dividend Value ETF | DIVL            |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Madison Dividend Value ETF** | **Madison Dividend Value ETF** | **Madison Dividend Value ETF** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** | **March 31, 2026 (Unaudited)** |
| **COMMON STOCKS - 97.5%** | **Shares**  | **Value**  |
| **Consumer Discretionary - 8.0%** | **Consumer Discretionary - 8.0%** | |
| Home Depot, Inc. | 5217 | $1715819 |
| Lowe's Cos., Inc. | 6731 | 1590401 |
| McDonald's Corp. | 4967 | 1543694 |
|  |  | 4849914 |
| **Consumer Staples - 9.7%** | **Consumer Staples - 9.7%** |  |
| Bunge Global SA | 5969 | 759257 |
| Coca-Cola Co. | 20827 | 1583893 |
| Colgate-Palmolive Co. | 15166 | 1292598 |
| Procter & Gamble Co. | 15569 | 2248787 |
|  |  | 5884535 |
| **Energy - 18.4%** | **Energy - 18.4%** |  |
| Chevron Corp. | 15390 | 3184191 |
| ConocoPhillips | 16906 | 2231592 |
| EOG Resources, Inc. | 5218 | 754366 |
| Exxon Mobil Corp. | 19412 | 3293440 |
| SLB Ltd. | 32065 | 1647820 |
|  |  | 11111409 |
| **Financials - 13.4%** | **Financials - 13.4%** |  |
| Bank of America Corp. | 19069 | 929614 |
| Blackrock, Inc. | 1224 | 1177133 |
| CME Group, Inc. | 8602 | 2540601 |
| JPMorgan Chase & Co. | 4077 | 1199290 |
| Marsh & McLennan Cos., Inc. | 3399 | 589557 |
| Morgan Stanley | 5727 | 942492 |
| State Street Corp. | 5538 | 700889 |
|  |  | 8079576 |
| **Health Care - 13.5%** | **Health Care - 13.5%** |  |
| AbbVie, Inc. | 8472 | 1842575 |
| Amgen, Inc. | 4164 | 1465104 |
| Johnson & Johnson | 12987 | 3174542 |
| Medtronic PLC | 19436 | 1684129 |
|  |  | 8166350 |
| **Industrials - 16.6%** | **Industrials - 16.6%** |  |
| Cummins, Inc. | 1827 | 982963 |
| Expeditors International of Washington, Inc. | 6489 | 929419 |
| Fastenal Co. | 30182 | 1400445 |
| Honeywell International, Inc. | 10521 | 2378062 |
| Illinois Tool Works, Inc. | 7244 | 1885541 |
| Rockwell Automation, Inc. | 1713 | 614761 |
| Union Pacific Corp. | 7707 | 1869872 |
|  |  | 10061063 |
| **Materials - 6.4%** | **Materials - 6.4%** |  |
| Agnico Eagle Mines Ltd. | 7035 | 1427964 |
| Air Products and Chemicals, Inc. | 4976 | 1445478 |
| Nutrien Ltd. | 13077 | 986791 |
|  |  | 3860233 |
| **Technology - 6.2%** | **Technology - 6.2%** |  |
| Analog Devices, Inc. | 5250 | 1670235 |
| Texas Instruments, Inc. | 10680 | 2073415 |
|  |  | 3743650 |
| **Utilities - 5.3%** | **Utilities - 5.3%** |  |
| NextEra Energy, Inc. | 28269 | 2625625 |
| WEC Energy Group, Inc. | 5131 | 594016 |
|  |  | 3219641 |
| **TOTAL COMMON STOCKS** (Cost $48,132,367) | **TOTAL COMMON STOCKS** (Cost $48,132,367) | 58976371 |
| **REAL ESTATE INVESTMENT TRUSTS – COMMON - 2.2%** | **Shares**  | **Value**  |
| **Real Estate - 2.2%** | **Real Estate - 2.2%** |  |
| Prologis, Inc. | 10287 | 1359736 |
| **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $1,315,341) | **TOTAL REAL ESTATE INVESTMENT TRUSTS** (Cost $1,315,341) | 1359736 |
| **TOTAL INVESTMENTS - 99.7% (**Cost $49,447,708**)** | **TOTAL INVESTMENTS - 99.7% (**Cost $49,447,708**)** | 60336107 |
| Money Market Deposit Account - 0.2% <sup>(a)</sup> | Money Market Deposit Account - 0.2% <sup>(a)</sup> | 142128 |
| Other Assets in Excess of Liabilities - 0.1% | Other Assets in Excess of Liabilities - 0.1% | 19156 |
| **TOTAL NET ASSETS - 100.0%** |  | $60497391 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

PLC - Public Limited Company<br>

(a) 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%.

------

#### Summary of Fair Value Disclosure as of March 31, 2026 (Unaudited)
Madison Dividend Value 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>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $58976371 | $– | $– | $58976371 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Real Estate Investment Trusts | 1359736 | – | – | 1359736 |
| Total Investments | $60336107 | $– | $– | $60336107 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments 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 Dividend Value ETF

- **b. EDGAR series identifier (if any):** S000081096

- **c. LEI of Series:** 5493000IABVCBRPOIQ09

**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:** $60532905.95

**Total Liabilities:** $35515.24

**Net Assets:** $60497390.71

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000243767 | 6.76%                | 4.81%                | -4.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $466001.44               | $3580667.58                                |
| Month 2  | $1084153.30              | $1871324.37                                |
| Month 3  | $1080005.16              | $-3963875.47                               |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Expeditors International of Wa | Expeditors International of Washington Inc | CUSIP: 302130109<br>LEI: 984500B055A804AB6E40 | Long             | EC               | CORP              | US        |      6489 | NS      | $929419.47    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| ConocoPhillips                 | ConocoPhillips                             | CUSIP: 20825C104<br>LEI: WPTL2Z3FIYTHSP5V2253 | Long             | EC               | CORP              | US        |     16906 | NS      | $2231592.00   | 3.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Co/The               | Coca-Cola Co/The                           | CUSIP: 191216100<br>LEI: UWJKFUJFZ02DKWI3RY53 | Long             | EC               | CORP              | US        |     20827 | NS      | $1583893.35   | 2.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |     19412 | NS      | $3293439.92   | 5.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Morgan Stanley                 | Morgan Stanley                             | CUSIP: 617446448<br>LEI: IGJSJL3JD5P30I6NJZ34 | Long             | EC               | CORP              | US        |      5727 | NS      | $942492.39    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| AbbVie Inc                     | AbbVie Inc                                 | CUSIP: 00287Y109<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | EC               | CORP              | US        |      8472 | NS      | $1842575.28   | 3.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Agnico Eagle Mines Ltd         | Agnico Eagle Mines Ltd                     | CUSIP: 008474108<br>LEI: 254900BFJ2DOHPMEXN45 | Long             | EC               | CORP              | CA        |      7035 | NS      | $1427964.30   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Products and Chemicals Inc | Air Products and Chemicals Inc             | CUSIP: 009158106<br>LEI: 7QEON6Y1RL5XR3R1W237 | Long             | EC               | CORP              | US        |      4976 | NS      | $1445478.24   | 2.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc             | Analog Devices Inc                         | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |      5250 | NS      | $1670235.00   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| CME Group Inc                  | CME Group Inc                              | CUSIP: 12572Q105<br>LEI: LCZ7XYGSLJUHFXXNXD88 | Long             | EC               | CORP              | US        |      8602 | NS      | $2540600.70   | 4.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Colgate-Palmolive Co           | Colgate-Palmolive Co                       | CUSIP: 194162103<br>LEI: YMEGZFW4SBUSS5BQXF88 | Long             | EC               | CORP              | US        |     15166 | NS      | $1292598.18   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |
| EOG Resources Inc              | EOG Resources Inc                          | CUSIP: 26875P101<br>LEI: XWTZDRYZPBUHIQBKDB46 | Long             | EC               | CORP              | US        |      5218 | NS      | $754366.26    | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Home Depot Inc/The             | Home Depot Inc/The                         | CUSIP: 437076102<br>LEI: QEKMOTMBBKA8I816DO57 | Long             | EC               | CORP              | US        |      5217 | NS      | $1715819.13   | 2.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc    | Honeywell International Inc                | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     10521 | NS      | $2378061.63   | 3.93%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co            | JPMorgan Chase & Co                        | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      4077 | NS      | $1199290.32   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Marsh & McLennan Cos Inc       | Marsh & McLennan Cos Inc                   | CUSIP: 571748102<br>LEI: 549300XMP3KDCKJXIU47 | Long             | EC               | CORP              | US        |      3399 | NS      | $589556.55    | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| McDonald's Corp                | McDonald's Corp                            | CUSIP: 580135101<br>LEI: UE2136O97NLB5BYP9H04 | Long             | EC               | CORP              | US        |      4967 | NS      | $1543693.93   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc             | NextEra Energy Inc                         | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     28269 | NS      | $2625624.72   | 4.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Procter & Gamble Co/The        | Procter & Gamble Co/The                    | CUSIP: 742718109<br>LEI: 2572IBTT8CCZW6AU4141 | Long             | EC               | CORP              | US        |     15569 | NS      | $2248786.36   | 3.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Rockwell Automation Inc        | Rockwell Automation Inc                    | CUSIP: 773903109<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | EC               | CORP              | US        |      1713 | NS      | $614761.44    | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| SLB Ltd                        | SLB Ltd                                    | CUSIP: 806857108<br>LEI: 213800ZUA17OK3QLGM62 | Long             | EC               | CORP              | US        |     32065 | NS      | $1647820.35   | 2.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc          | Texas Instruments Inc                      | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |     10680 | NS      | $2073415.20   | 3.43%             |  |  |  | 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        |    142128 | NS      | $142127.88    | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Medtronic PLC                  | Medtronic PLC                              | CUSIP: N/A<br>LEI: 549300GX3ZBSQWUXY261       | Long             | EC               | CORP              | IE        |     19436 | NS      | $1684129.40   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                | Bunge Global SA                            | CUSIP: N/A<br>LEI: 254900IVXSV9K0B7PO26       | Long             | EC               | CORP              | US        |      5969 | NS      | $759256.80    | 1.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Nutrien Ltd                    | Nutrien Ltd                                | CUSIP: 67077M108<br>LEI: 5493002QQ7GD21OWF963 | Long             | EC               | CORP              | CA        |     13077 | NS      | $986790.42    | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corp             | Union Pacific Corp                         | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      7707 | NS      | $1869872.34   | 3.09%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc           | WEC Energy Group Inc                       | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      5131 | NS      | $594015.87    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc                      | Amgen Inc                                  | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      4164 | NS      | $1465103.40   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp           | Bank of America Corp                       | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     19069 | NS      | $929613.75    | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Blackrock Inc                  | Blackrock Inc                              | CUSIP: 09290D101<br>LEI: 529900VBK42Y5HHRMD23 | Long             | EC               | CORP              | US        |      1224 | NS      | $1177133.04   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Chevron Corp                   | Chevron Corp                               | CUSIP: 166764100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     15390 | NS      | $3184191.00   | 5.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Cummins Inc                    | Cummins Inc                                | CUSIP: 231021106<br>LEI: ZUNI8PYC725B6H8JU438 | Long             | EC               | CORP              | US        |      1827 | NS      | $982962.54    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co                    | Fastenal Co                                | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |     30182 | NS      | $1400444.80   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Illinois Tool Works Inc        | Illinois Tool Works Inc                    | CUSIP: 452308109<br>LEI: 76NA4I14SZCFAYMNSV04 | Long             | EC               | CORP              | US        |      7244 | NS      | $1885540.76   | 3.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson & Johnson              | Johnson & Johnson                          | CUSIP: 478160104<br>LEI: 549300G0CFPGEF6X2043 | Long             | EC               | CORP              | US        |     12987 | NS      | $3174542.28   | 5.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Lowe's Cos Inc                 | Lowe's Cos Inc                             | CUSIP: 548661107<br>LEI: WAFCR4OKGSC504WU3E95 | Long             | EC               | CORP              | US        |      6731 | NS      | $1590400.68   | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Prologis Inc                   | Prologis Inc                               | CUSIP: 74340W103<br>LEI: 529900DFH19P073LZ636 | Long             | EC               | CORP              | US        |     10287 | NS      | $1359735.66   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp              | State Street Corp                          | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      5538 | NS      | $700889.28    | 1.16%             |  |  |  | No            |                  1 | 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