NPORT-P false 0001040612 XXXXXXXX S000026831 C000116936 C000080724 C000235946 C000080723 MADISON FUNDS 811-08261 0001040612 25490037IZEAAJ1OT743 550 SCIENCE DRIVE MADISON 53711 608-274-0300 Madison Covered Call & Equity Income Fund S000026831 254900477U55H8MDFD06 2026-10-31 2026-04-30 N 149264181.39 7959846.84 141304334.55 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N Securities Portfolio VaR Designated Reference Portfolio is the Fund`s Securities Portfolio Honeywell International Inc ISRPG12PN4EIEOEMW547 438516106 12000.00000000 NS USD 2571960.00000000 1.820156478703 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -781.00000000 NC USD -372927.50000000 -0.26391794787 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written CVS Health Corp. CVS Health Corp. 100.00000000 80.00000000 USD 2026-05-15 XXXX -247368.43000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -120.00000000 NC USD -13800.00000000 -0.00976615476 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Honeywell International, Inc. Honeywell International, Inc. 100.00000000 240.00000000 USD 2026-06-18 XXXX 66477.25000000 N N N Accenture PLC 5493000EWHDSR3MZWH98 000000000 13100.00000000 NS USD 2341101.00000000 1.656779324891 Long EC CORP IE N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -960.00000000 NC USD -336000.00000000 -0.23778463772 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Archer-Daniels-Midland Co. Archer-Daniels-Midland Co. 100.00000000 75.00000000 USD 2026-06-18 XXXX -52315.88000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -131.00000000 NC USD -18995.00000000 -0.01344261664 N/A DE IE N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Accenture PLC Accenture PLC 100.00000000 230.00000000 USD 2026-06-18 XXXX 45060.99000000 N N N NIKE Inc 787RXPR0UX0O0XUXPZ81 654106103 42500.00000000 NS USD 1885300.00000000 1.334212433046 Long EC CORP US N 1 N N N Transocean Ltd 529900QO4W5DQGBGEF32 000000000 1700000.00000000 NS USD 11594000.00000000 8.204985386274 Long EC CORP CH N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -90.00000000 NC USD -686475.00000000 -0.48581312256 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Broadcom, Inc. Broadcom, Inc. 100.00000000 350.00000000 USD 2026-06-18 XXXX -574067.07000000 N N N Medtronic PLC 549300GX3ZBSQWUXY261 000000000 48500.00000000 NS USD 3927045.00000000 2.779139799572 Long EC CORP IE N 1 N N N PepsiCo Inc FJSUNZKFNQ5YPJ5OT455 713448108 51900.00000000 NS USD 8225631.00000000 5.821216331541 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -102.00000000 NC USD -88230.00000000 -0.06243969817 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Microsoft Corp. Microsoft Corp. 100.00000000 430.00000000 USD 2026-06-18 XXXX -9794.34000000 N N N CME Group Inc LCZ7XYGSLJUHFXXNXD88 12572Q105 8700.00000000 NS USD 2504034.00000000 1.772085766494 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -765.00000000 NC USD -123165.00000000 -0.08716293126 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written PayPal Holdings, Inc. PayPal Holdings, Inc. 100.00000000 55.00000000 USD 2026-06-18 XXXX -42987.61000000 N N N PayPal Holdings Inc 5493005X2GO78EFZ3E94 70450Y103 76500.00000000 NS USD 3835710.00000000 2.714502716576 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -321.00000000 NC USD -69817.50000000 -0.04940931233 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Constellation Brands, Inc. Constellation Brands, Inc. 100.00000000 170.00000000 USD 2026-06-18 XXXX 37902.73000000 N N N Microchip Technology Inc 5493007PTFULNYZJ1R12 595017104 78000.00000000 NS USD 7246980.00000000 5.128632481854 Long EC CORP US N 1 N N N Visa Inc 549300JZ4OKEHW3DPJ59 92826C839 8700.00000000 NS USD 2869608.00000000 2.030799698493 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -485.00000000 NC USD -5577.50000000 -0.00394715421 N/A DE IE N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Medtronic PLC Medtronic PLC 100.00000000 95.00000000 USD 2026-06-18 XXXX 58506.37000000 N N N Archer-Daniels-Midland Co 549300LO13MQ9HYSTR83 039483102 96000.00000000 NS USD 7155840.00000000 5.064133398871 Long EC CORP US N 1 N N N Fiserv Inc GI7UBEJLXYLGR2C7GV83 337738108 33500.00000000 NS USD 2098775.00000000 1.485287062625 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -425.00000000 NC USD -4462.50000000 -0.00315807721 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written NIKE, Inc. NIKE, Inc. 100.00000000 60.00000000 USD 2026-06-18 XXXX 81224.75000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -1327.00000000 NC USD -776295.00000000 -0.54937805161 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Matador Resources Co. Matador Resources Co. 100.00000000 60.00000000 USD 2026-06-18 XXXX -439174.56000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -335.00000000 NC USD -70350.00000000 -0.04978615852 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Fiserv, Inc. Fiserv, Inc. 100.00000000 70.00000000 USD 2026-06-18 XXXX -8717.69000000 N N N Microsoft Corp INR2EJN1ERAN0W5ZP974 594918104 10200.00000000 NS USD 4159356.00000000 2.943544522711 Long EC CORP US N 1 N N N Constellation Brands Inc 5493005GKEG8QCVY7037 21036P108 32100.00000000 NS USD 5026218.00000000 3.557016149579 Long EC CORP US N 1 N N N Adobe Inc FU4LY2G4933NH2E1CP29 00724F101 16600.00000000 NS USD 4085260.00000000 2.891107348553 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -320.00000000 NC USD -52000.00000000 -0.03680000345 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Colgate-Palmolive Co. Colgate-Palmolive Co. 100.00000000 90.00000000 USD 2026-06-18 XXXX 29490.26000000 N N N CVS Health Corp 549300EJG376EN5NQE29 126650100 78100.00000000 NS USD 6504949.00000000 4.603502801747 Long EC CORP US N 1 N N N Marsh & McLennan Cos Inc 549300XMP3KDCKJXIU47 571748102 26300.00000000 NS USD 4410773.00000000 3.121470416351 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -83.00000000 NC USD -246717.50000000 -0.17460009332 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Amazon.com, Inc. Amazon.com, Inc. 100.00000000 240.00000000 USD 2026-06-18 XXXX -206962.40000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -1949.00000000 NC USD -307942.00000000 -0.21792820509 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written APA Corp. APA Corp. 100.00000000 45.00000000 USD 2026-06-18 XXXX 36527.91000000 N N N Broadcom Inc 549300WV6GIDOZJTV909 11135F101 9000.00000000 NS USD 3756870.00000000 2.658708249795 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -1230.00000000 NC USD -5535.00000000 -0.00391707729 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Pfizer, Inc. Pfizer, Inc. 100.00000000 29.00000000 USD 2026-05-15 XXXX 46096.77000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -625.00000000 NC USD -42187.50000000 -0.02985577203 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Weyerhaeuser Co. Weyerhaeuser Co. 100.00000000 26.00000000 USD 2026-07-17 XXXX -11576.84000000 N N N State Street Global Advisors 549300BZ5TGIFZUZDZ37 857492706 19654732.94000000 NS USD 19654732.94000000 13.90950461823 Long STIV RF US N 1 N N N APA Corp 549300VCIWLRHYVSHC79 03743Q108 194900.00000000 NS USD 7938277.00000000 5.617858097050 Long EC CORP US N 1 N N N Pfizer Inc 765LHXWGK1KXCLTFYQ30 717081103 123000.00000000 NS USD 3284100.00000000 2.324132526053 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -87.00000000 NC USD -93090.00000000 -0.06587908311 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Visa, Inc. Visa, Inc. 100.00000000 330.00000000 USD 2026-06-18 XXXX -36629.00000000 N N N AES Corp/The 2NUNNB7D43COUIRE5295 00130H105 302000.00000000 NS USD 4363900.00000000 3.088298751696 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -519.00000000 NC USD -197220.00000000 -0.13957109003 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written PepsiCo, Inc. PepsiCo, Inc. 100.00000000 165.00000000 USD 2026-07-17 XXXX 7153.91000000 N N N Matador Resources Co 549300CI3Q2UUK5R4G79 576485205 137000.00000000 NS USD 8691280.00000000 6.150752577886 Long EC CORP US N 1 N N N Danaher Corp S4BKK9OTCEWQ3YHPFM11 235851102 17500.00000000 NS USD 3131625.00000000 2.216227131299 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -183.00000000 NC USD 0.00000000 0.000000 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written T-Mobile U.S., Inc. T-Mobile U.S., Inc. 100.00000000 240.00000000 USD 2026-05-15 XXXX 80849.46000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -780.00000000 NC USD -1489800.00000000 -1.05432009905 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Microchip Technology, Inc. Microchip Technology, Inc. 100.00000000 75.00000000 USD 2026-06-18 XXXX -1278742.10000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -175.00000000 NC USD -2625.00000000 -0.00185769248 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Danaher Corp. Danaher Corp. 100.00000000 220.00000000 USD 2026-06-18 XXXX 47072.73000000 N N N T-Mobile US Inc 549300QHIJYOHPACPG31 872590104 18300.00000000 NS USD 3577650.00000000 2.531875622494 Long EC CORP US N 1 N N N Weyerhaeuser Co 08IRJODWFYBI7QWRGS31 962166104 125000.00000000 NS USD 3065000.00000000 2.169077126870 Long EC US N 1 N N N Las Vegas Sands Corp 549300DUOO1KXOHPM605 517834107 61000.00000000 NS USD 3331210.00000000 2.357471913801 Long EC CORP US N 1 N N N Colgate-Palmolive Co YMEGZFW4SBUSS5BQXF88 194162103 32000.00000000 NS USD 2731520.00000000 1.933075873927 Long EC CORP US N 1 N N N Amazon.com Inc ZXTILKJKG63JELOEG630 023135106 8300.00000000 NS USD 2199998.00000000 1.556921807817 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -87.00000000 NC USD -10657.50000000 -0.00754223147 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written CME Group, Inc. CME Group, Inc. 100.00000000 320.00000000 USD 2026-06-18 XXXX 70881.25000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -166.00000000 NC USD -26975.00000000 -0.01909000179 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Adobe, Inc. Adobe, Inc. 100.00000000 270.00000000 USD 2026-05-15 XXXX 59490.59000000 N N N 2026-05-14 MADISON FUNDS Greg Hoppe Greg Hoppe Chief Financial Officer