CIK: 0001138060
Total reported value
$6.2B
Reporting period: 2019-09-30 · Number of holdings: 283
MADISON INVESTMENT HOLDINGS INC disclosed 283 holdings in its latest 13F filing for the period ending 2019-09-30, with total reported value of $6.2B and a quarterly turnover rate of 21.1%.
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Madison Investment Holdings INC's disclosed holdings carry a Herfindahl concentration index of 0.010 — mathematically equivalent to about 103 equally-sized positions, well below its 283 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.33), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 22% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim IVV
-47.4% -$35.9M
Trim VEU
-15.5% -$15.8M
Add VAREUR
+111.2% $25.3M
Trim SBUX
-62.4% -$19.4M
Add VIG
+81.9% $20.6M
Trim SCHP
-16.8% -$11.2M
Showing top 200 holdings (of 283 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | DLTR | Dollar Tree INC | Stock-Consumer Staples | 2.26% | +0.01% | +2.95% | |
| 2 | KMX | Carmax INC | Stock-Consumer Disc | 2.23% | — | +2.85% | |
| 3 | BAM | Brookfield Asset Management Ltd. | Stock-Financials | 2.15% | +0.09% | +2.19% | |
| 4 | VCSH | Vanguard S/t CORP Bond ETF | ETF-Corp Bonds | 2.11% | -0.04% | +6.13% | |
| 5 | USB | US Bancorp | Stock-Financials | 1.91% | +0.06% | +6.53% | |
| 6 | SCHR | Schwab Intermediate-term US | ETF-Other | 1.84% | — | -0.98% | |
| 7 | CDW | Cdw Corp/de | Stock-Tech | 1.82% | +0.08% | +2.43% | |
| 8 | CPRT | Copart INC | Stock-Industrials | 1.76% | +0.02% | +2.49% | |
| 9 | ACGL | Arch Capital Group Ltd. | Stock-Financials | 1.64% | +0.09% | +1.80% | |
| 10 | JECUSD | Jacobs Engineering Group INC | Stock-Other | 1.59% | — | -12.29% | |
| 11 | PGR | Progressive CORP | Stock-Financials | 1.52% | — | +0.15% | |
| 12 | LOW | Lowe's Cos INC | Stock-Consumer Disc | 1.49% | +0.08% | +5.00% | |
| 13 | EFAV | Ishares Msci Eafe Min Vol Fa | ETF-Other | 1.45% | +0.11% | +16.94% | |
| 14 | TEL | TE Connectivity plc | Stock-Tech | 1.42% | — | +3.20% | |
| 15 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.42% | +0.07% | +1.59% | |
| 16 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.37% | — | +4.67% | |
| 17 | LBRDK | Liberty Broadband-c | Stock-Comm Services | 1.30% | — | +1.71% | |
| 18 | TJX | Tjx Companies INC | Stock-Consumer Disc | 1.28% | — | +3.16% | |
| 19 | MKL | Markel Group INC | Stock-Financials | 1.28% | — | +1.81% | |
| 20 | NVS | Novartis Ag-sponsored Adr | Stock-Healthcare | 1.24% | — | +2.49% | |
| 21 | VEU | Vanguard Ftse All-world Ex-u | ETF-Other | 1.23% | -0.38% | -15.53% | |
| 22 | PPG | Ppg Industries INC | Stock-Materials | 1.22% | — | +3.37% | |
| 23 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 1.18% | — | +0.55% | |
| 24 | LIN | Linde plc | Stock-Materials | 1.17% | — | +2.77% | |
| 25 | FAST | Fastenal Co | Stock-Industrials | 1.13% | — | +11.31% | |
| 26 | TLT | Ishares 20+ Year Treasury Bd | ETF-Gov Bonds | 1.11% | — | -15.98% | |
| 27 | BRO | Brown & Brown INC | Stock-Financials | 1.09% | — | +1.55% | |
| 28 | IHS | Ihs Markit LTD | Stock-Other | 1.06% | — | +1.97% | |
| 29 | ORLY | O'reilly Automotive INC | Stock-Consumer Disc | 1.03% | — | +1.55% | |
| 30 | XOM | Exxon Mobil CORP | Stock-Energy | 1.02% | +0.05% | +23.87% | |
| 31 | V | Visa Inc-class A Shares | Stock-Financials | 0.99% | — | +2.35% | |
| 32 | ADI | Analog Devices INC | Stock-Tech | 0.97% | — | +3.12% | |
| 33 | SCHP | Schwab U.s. Tips ETF | ETF-Other | 0.95% | -0.28% | -16.76% | |
| 34 | DHR | Danaher CORP | Stock-Healthcare | 0.90% | — | +2.68% | |
| 35 | ROST | Ross Stores INC | Stock-Consumer Disc | 0.90% | — | +1.60% | |
| 36 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.90% | — | +0.22% | |
| 37 | VAREUR | Varian Medical Systems INC | Stock-Other | 0.90% | +0.37% | +111.23% | |
| 38 | AXTA | Axalta Coating Systems Ltd. | Stock-Materials | 0.89% | — | +1.68% | |
| 39 | ✓ | Laboratory CORP Amer Hldgs | Stock-Other | 0.88% | — | +2.18% | |
| 40 | ACN | Accenture plc | Stock-Tech | 0.86% | — | +2.63% | |
| 41 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 0.81% | — | -6.12% | |
| 42 | CTSH | Cognizant Tech Solutions-a | Stock-Tech | 0.79% | — | -0.22% | |
| 43 | BND | Vanguard Total Bond Market | ETF-Other | 0.78% | — | -3.54% | |
| 44 | WRB | Wr Berkley CORP | Stock-Financials | 0.77% | — | +1.33% | |
| 45 | FND | Floor & Decor Holdings Inc-a | Stock-Consumer Disc | 0.77% | +0.09% | +1.68% | |
| 46 | VV | Vanguard Large-cap ETF | ETF-Other | 0.74% | — | -5.52% | |
| 47 | PCAR | Paccar INC | Stock-Industrials | 0.73% | — | +3.54% | |
| 48 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 0.73% | — | +6.09% | |
| 49 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.71% | +0.30% | +81.87% | |
| 50 | VZ | Verizon Communications INC | Stock-Comm Services | 0.69% | — | -17.34% |
Not enough priced holdings yet to compute performance
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2019-09-30 | 283 | $6.2B | 21 | |
| 2019-06-30 | 219 | $5.7B | 25 | |
| 2019-03-31 | 221 | $5.4B | 30 | |
| 2018-12-31 | 230 | $4.9B | 34 | |
| 2018-09-30 | 258 | $5.8B | 26 | |
| 2018-06-30 | 254 | $5.6B | 28 | |
| 2018-03-31 | 245 | $5.6B | 22 | |
| 2017-12-31 | 257 | $5.9B | 19 | |
| 2017-09-30 | 253 | $5.6B | 18 | |
| 2017-06-30 | 245 | $5.4B | 19 | |
| 2017-03-31 | 247 | $5.4B | 24 | |
| 2016-12-31 | 248 | $5.2B | 21 | |
| 2016-09-30 | 242 | $5.1B | 24 | |
| 2016-06-30 | 241 | $4.8B | 19 | |
| 2016-03-31 | 226 | $4.7B | 29 | |
| 2015-12-31 | 226 | $4.6B | 20 | |
| 2015-09-30 | 228 | $4.6B | 29 | |
| 2015-06-30 | 231 | $4.9B | 19 | |
| 2015-03-31 | 230 | $5.1B | 31 | |
| 2014-12-31 | 212 | $4.7B | 27 | |
| 2014-09-30 | 214 | $4.5B | 26 | |
| 2014-06-30 | 221 | $4.9B | 32 | |
| 2014-03-31 | 231 | $5.3B | 28 | |
| 2013-12-31 | 236 | $5.2B | 26 | |
| 2013-09-30 | 232 | $4.7B | 27 | |
| 2013-06-30 | 230 | $4.6B | 0 |
Madison Investment Holdings INC's most significant position changes for 2019-09-30: Sold out: Liberty Global Ltd. (LBTYA); New buy: Gartner INC (IT); New buy: Ss Spdr Bb 1-3m T-bill ETF (BIL); New buy: Zimmer Biomet Holdings INC (ZBH); Sold out: Henry Schein INC (HSIC).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | VAREUR | Varian Medical Systems INC | +0.4% | +111.23% | Add |
| 2 | VIG | Vanguard Dividend Apprec ETF | +0.3% | +81.87% | Add |
| 3 | USMV | Ishares Msci USA Min Vol Fac | +0.3% | +70.35% | Add |
| 4 | BMY | Bristol-myers Squibb Co | +0.3% | +329.70% | Add |
| 5 | GLD | Spdr Gold Shares | +0.2% | +4330.21% | Add |
| 6 | FNDX | Schwab Fndmntl US Lrg Co ETF | +0.2% | +146.16% | Add |
| 7 | BAC | Bank Of America CORP | +0.1% | +53.69% | Add |
| 8 | CNQ | Canadian Natural Resources | +0.1% | +170.13% | Add |
| 9 | EFAV | Ishares Msci Eafe Min Vol Fa | +0.1% | +16.94% | Add |
| 10 | BAM | Brookfield Asset Management Ltd. | +0.1% | +2.19% | Add |
| 11 | ACGL | Arch Capital Group Ltd. | +0.1% | +1.80% | Add |
| 12 | FND | Floor & Decor Holdings Inc-a | +0.1% | +1.68% | Add |
| 13 | CDW | Cdw Corp/de | +0.1% | +2.43% | Add |
| 14 | LOW | Lowe's Cos INC | +0.1% | +5.00% | Add |
| 15 | GOOG | Alphabet Inc-cl C | +0.1% | +1.59% | Add |
| 16 | USB | US Bancorp | +0.1% | +6.53% | Add |
| 17 | XOM | Exxon Mobil CORP | +0.1% | +23.87% | Add |
| 18 | CPRT | Copart INC | 0% | +2.49% | Add |
| 19 | DLTR | Dollar Tree INC | 0% | +2.95% | Add |
| 20 | VCSH | Vanguard S/t CORP Bond ETF | 0% | +6.13% | Add |
| 21 | LLY | Eli Lilly & Co | -0.1% | -58.83% | Trim |
| 22 | AES | Aes CORP | -0.2% | -58.09% | Trim |
| 23 | PDBC | Invesco Optimum Yield Divers | -0.2% | -60.62% | Trim |
| 24 | EEMV | Ishares Msci Emg Mkt Min Vol | -0.2% | -55.62% | Trim |
| 25 | EOG | Eog Resources INC | -0.2% | -25.03% | Trim |
| 26 | MSFT | Microsoft CORP | -0.2% | -27.43% | Trim |
| 27 | GMF | State Street Spdr S&p Emergi | -0.2% | -85.29% | Trim |
| 28 | DISCKUSD | Discovery Inc-c | -0.3% | -61.85% | Trim |
| 29 | SCHD | Schwab US Dvd Equity ETF | -0.3% | -34.72% | Trim |
| 30 | VWO | Vanguard Ftse Emerging Marke | -0.3% | -60.72% | Trim |
| 31 | SCHP | Schwab U.s. Tips ETF | -0.3% | -16.76% | Trim |
| 32 | SBUX | Starbucks CORP | -0.4% | -62.37% | Trim |
| 33 | VEU | Vanguard Ftse All-world Ex-u | -0.4% | -15.53% | Trim |
| 34 | IVV | Ishares Core S&p 500 ETF | -0.7% | -47.41% | Trim |
| 35 | LBTYA | Liberty Global Ltd. | — | EXIT | Sold out |
| 36 | IT | Gartner INC | — | NEW | New buy |
| 37 | BIL | Ss Spdr Bb 1-3m T-bill ETF | — | NEW | New buy |
| 38 | ZBH | Zimmer Biomet Holdings INC | — | NEW | New buy |
| 39 | HSIC | Henry Schein INC | — | EXIT | Sold out |
| 40 | MTG | Mgic Investment CORP | — | NEW | New buy |
| 41 | FDC | First Data Corp- Class A | — | EXIT | Sold out |
| 42 | RGLD | Royal Gold INC | — | NEW | New buy |
| 43 | EHC | Encompass Health CORP | — | NEW | New buy |
| 44 | PNC | Pnc Financial Services Group | — | EXIT | Sold out |
| 45 | MAS | Masco CORP | — | NEW | New buy |
| 46 | GMED | Globus Medical INC - A | — | NEW | New buy |
| 47 | FEYECHF | Mandiant INC | — | NEW | New buy |
| 48 | PRAH | Pra Health Sciences INC | — | NEW | New buy |
| 49 | CLF | Cleveland-cliffs INC | — | EXIT | Sold out |
| 50 | PRAA | Pra Group INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-13 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-14 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-08 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-08 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-11 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-12 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-14 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-10 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-15 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-17 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-12 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-09 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-12 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-10 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-14 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-05 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-10 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-06 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-12 | 13F-HR | View on EDGAR |
| 2013-09-30 | 2013-11-04 | 13F-HR | View on EDGAR |
| 2013-06-30 | 2013-07-31 | 13F-HR | View on EDGAR |
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