# EDGAR Filing Document

**Accession Number:** 0001040612
**File Stem:** 0001954889-26-000004
**Filing Date:** 2026-1
**Character Count:** 10322
**Document Hash:** 7cc574c76f333c8a98a3621b1e4440cb
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001954889-26-000004.hdr.sgml**: 20260130

**ACCESSION NUMBER**: 0001954889-26-000004

**CONFORMED SUBMISSION TYPE**: 24F-2NT

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251031

**FILED AS OF DATE**: 20260130

**DATE AS OF CHANGE**: 20260130

**EFFECTIVENESS DATE**: 20260130

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** 24F-2NT
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-29511
- **FILM NUMBER:** 26581503

**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 Core Bond Fund (Series ID: S000020646)

---

|  |  |  |
|:---|:---|:---|
| Class Name             | Ticker Symbol | Class ID   |
| Core Bond Fund Class A | mboax         | C000057637 |
| Core Bond Fund Class Y | MBOYX         | C000057639 |
| Core Bond Fund Class I | MBOIX         | C000227346 |
| Core Bond Class R6     | MBORX         | C000235944 |

---

### Madison Mid Cap Fund (Series ID: S000020651)

---

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

---

### Madison Diversified Income Fund (Series ID: S000020653)

---

|  |  |  |
|:---|:---|:---|
| Class Name                      | Ticker Symbol | Class ID   |
| Diversified Income Fund Class A | mblax         | C000057658 |

---

### Madison Small Cap Fund (Series ID: S000020659)

---

|  |  |  |
|:---|:---|:---|
| Class Name              | Ticker Symbol | Class ID   |
| Small Cap Fund Class A  | masmx         | C000057667 |
| Small Cap Fund Class Y  | bvaox         | C000057669 |
| Small Cap Fund Class I  | MSCIX         | C000227347 |
| Small Cap Fund Class R6 | MSCRX         | C000235945 |

---

### Madison Conservative Allocation Fund (Series ID: S000020660)

---

|  |  |  |
|:---|:---|:---|
| Class Name                           | Ticker Symbol | Class ID   |
| Conservative Allocation Fund Class A | mcnax         | C000057671 |

---

### Madison Moderate Allocation Fund (Series ID: S000020661)

---

|  |  |  |
|:---|:---|:---|
| Class Name                       | Ticker Symbol | Class ID   |
| Moderate Allocation Fund Class A | MMDAX         | C000057673 |

---

### Madison Aggressive Allocation Fund (Series ID: S000020662)

---

|  |  |  |
|:---|:---|:---|
| Class Name                         | Ticker Symbol | Class ID   |
| Aggressive Allocation Fund Class A | magsx         | C000057675 |

---

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

---

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

---

### Madison High Quality Bond Fund (Series ID: S000040129)

---

|  |  |  |
|:---|:---|:---|
| Class Name                     | Ticker Symbol | Class ID   |
| High Quality Bond Fund Class Y | MIIBX         | C000124792 |
| High Quality Bond Fund Class I | MIIRX         | C000235947 |

---

### Madison Large Cap Fund (Series ID: S000040131)

---

|  |  |  |
|:---|:---|:---|
| Class Name              | Ticker Symbol | Class ID   |
| Large Cap Fund Class Y  | MINVX         | C000124794 |
| Large Cap Fund Class R6 | MNVRX         | C000130690 |
| Large Cap Fund Class A  | MNVAX         | C000130691 |
| Large Cap Fund Class I  | MIVIX         | C000221333 |

---

### Madison Dividend Income Fund (Series ID: S000040132)

---

|  |  |  |
|:---|:---|:---|
| Class Name                   | Ticker Symbol | Class ID   |
| Dividend Income Fund Class Y | BHBFX         | C000124795 |
| Dividend Income Fund Class A | MADAX         | C000221172 |
| Dividend Income Fund Class I | MDMIX         | C000221334 |
| Dividend Income Fund Cass R6 | MADRX         | C000235948 |

---

### Madison Tax-Free National Fund (Series ID: S000040135)

---

|  |  |  |
|:---|:---|:---|
| Class Name                     | Ticker Symbol | Class ID   |
| Tax-Free National Fund Class Y | GTFHX         | C000124800 |

---

## Series and Classes Contracts Data

### Madison Core Bond Fund (Series ID: S000020646)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000057637 | Core Bond Fund Class A | mboax           |
| C000057639 | Core Bond Fund Class Y | MBOYX           |
| C000227346 | Core Bond Fund Class I | MBOIX           |
| C000235944 | Core Bond Class R6     | MBORX           |

### 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           |

### Madison Diversified Income Fund (Series ID: S000020653)

| Class ID   | Class Name                      | Ticker Symbol   |
|:---|:---|:---|
| C000057658 | Diversified Income Fund Class A | mblax           |

### Madison Small Cap Fund (Series ID: S000020659)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000057667 | Small Cap Fund Class A  | masmx           |
| C000057669 | Small Cap Fund Class Y  | bvaox           |
| C000227347 | Small Cap Fund Class I  | MSCIX           |
| C000235945 | Small Cap Fund Class R6 | MSCRX           |

### Madison Conservative Allocation Fund (Series ID: S000020660)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000057671 | Conservative Allocation Fund Class A | mcnax           |

### Madison Moderate Allocation Fund (Series ID: S000020661)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000057673 | Moderate Allocation Fund Class A | MMDAX           |

### Madison Aggressive Allocation Fund (Series ID: S000020662)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000057675 | Aggressive Allocation Fund Class A | magsx           |

### 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           |

### Madison High Quality Bond Fund (Series ID: S000040129)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000124792 | High Quality Bond Fund Class Y | MIIBX           |
| C000235947 | High Quality Bond Fund Class I | MIIRX           |

### Madison Large Cap Fund (Series ID: S000040131)

| Class ID   | Class Name              | Ticker Symbol   |
|:---|:---|:---|
| C000124794 | Large Cap Fund Class Y  | MINVX           |
| C000130690 | Large Cap Fund Class R6 | MNVRX           |
| C000130691 | Large Cap Fund Class A  | MNVAX           |
| C000221333 | Large Cap Fund Class I  | MIVIX           |

### Madison Dividend Income Fund (Series ID: S000040132)

| Class ID   | Class Name                   | Ticker Symbol   |
|:---|:---|:---|
| C000124795 | Dividend Income Fund Class Y | BHBFX           |
| C000221172 | Dividend Income Fund Class A | MADAX           |
| C000221334 | Dividend Income Fund Class I | MDMIX           |
| C000235948 | Dividend Income Fund Cass R6 | MADRX           |

### Madison Tax-Free National Fund (Series ID: S000040135)

| Class ID   | Class Name                     | Ticker Symbol   |
|:---|:---|:---|
| C000124800 | Tax-Free National Fund Class Y | GTFHX           |

## FORM 24F-2NT: Annual Notice of Securities Sold Pursuant to Rule 24f-2

### 24F-2NT: Filer Information

**Filer CIK:** 0001040612

**Is this a LIVE or TEST Filing?:** LIVE

**Filer Investment Company Type:** N-1A

### 24F-2NT: Annual Filing Information

**1. Name and address of issuer:**

- **Name of Issuer:** MADISON FUNDS

- **Address:** 550 Science Drive, Madison, WI 53711

**2. The Name and EDGAR Identifier of each series or class of securities for which this Form is filed:**

- [ ] Check box if the Form is being filed for all series and classes of the issuer.

**3. Investment Company Act File Number:** 811-08261

   **Securities Act File Number:** 333-29511

**4(a). Last day of fiscal year for which this Form is filed:** 10/31/2025

**4(b). Check box if this Form is being filed late:** [x]

**4(c). Check box if this is the last time the issuer will be filing this Form:** [ ]

**5. Calculation of registration fee:**

- **(i) Aggregate sale price of securities sold during the fiscal year:** $1491755534.00

- **(ii) Aggregate price of securities redeemed or repurchased during the fiscal year:** $1335310287.00

- **(iii) Aggregate price of securities redeemed or repurchased during any prior fiscal year:** $0.00

- **(iv) Total available redemption credits [add Items 5(ii) and 5(iii)]:** $1335310287.00

- **(v) Net sales:** $156445247.00

- **(vi) Redemption credits available for use in future years:** $0.00

- **(vii) Multiplier for determining registration fee:** 0.0001381

- **(viii) Registration fee due:** $21605.09

**Signatures**

**Name and Title:** Chief Financial Officer

**Date:** 01/29/2026

**Signature:** Greg Hoppe