<?xml version="1.0" encoding="UTF-8"?><edgarSubmission xmlns="http://www.sec.gov/edgar/nport" xmlns:com="http://www.sec.gov/edgar/common" xmlns:ncom="http://www.sec.gov/edgar/nportcommon" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.sec.gov/edgar/nport eis_NPORT_Filer.xsd">
  <headerData>
    <submissionType>NPORT-P</submissionType>
    <isConfidential>false</isConfidential>
    <filerInfo>
      
      <filer>
        <issuerCredentials>
          <cik>0001040612</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
      </filer>
      
      
      <seriesClassInfo>
        <seriesId>S000020662</seriesId>
        <classId>C000057675</classId>
      </seriesClassInfo>
      
      
    </filerInfo>
  </headerData>
  <formData>
    <genInfo>
      <regName>MADISON FUNDS</regName>
      <regFileNumber>811-08261</regFileNumber>
      <regCik>0001040612</regCik>
      <regLei>25490037IZEAAJ1OT743</regLei>
      <regStreet1>550 SCIENCE DRIVE</regStreet1>
      <regCity>MADISON</regCity>
      <regStateConditional regCountry="US" regState="US-WI"/>
      <regZipOrPostalCode>53711</regZipOrPostalCode>
      <regPhone>608-274-0300</regPhone>
      <seriesName>Madison Aggressive Allocation Fund</seriesName>
      <seriesId>S000020662</seriesId>
      <seriesLei>254900QK8DPJA3JLJE64</seriesLei>
      <repPdEnd>2026-10-31</repPdEnd>
      <repPdDate>2026-07-31</repPdDate>
      <isFinalFiling>N</isFinalFiling>
    </genInfo>
    <fundInfo>
      <totAssets>60433471.91</totAssets>
      <totLiabs>4580982.64</totLiabs>
      <netAssets>55852489.27</netAssets>
      <assetsAttrMiscSec>0.00000000</assetsAttrMiscSec>
      <assetsInvested>0.00000000</assetsInvested>
      <amtPayOneYrBanksBorr>0.00000000</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0.00000000</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0.00000000</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0.00000000</amtPayOneYrOther>
      <amtPayAftOneYrBanksBorr>0.00000000</amtPayAftOneYrBanksBorr>
      <amtPayAftOneYrCtrldComp>0.00000000</amtPayAftOneYrCtrldComp>
      <amtPayAftOneYrOthAffil>0.00000000</amtPayAftOneYrOthAffil>
      <amtPayAftOneYrOther>0.00000000</amtPayAftOneYrOther>
      <delayDeliv>0.00000000</delayDeliv>
      <standByCommit>0.00000000</standByCommit>
      <liquidPref>0.00000000</liquidPref>
      <cshNotRptdInCorD>0.00000000</cshNotRptdInCorD>
      <borrowers>
        <borrower aggrVal="1546160.35000000" lei="549300KUN9K9K32C6D97" name="BNP Paribas Prime Brokerage International, Limited"/>
        <borrower aggrVal="838191.76000000" lei="549300HN4UKV1E2R3U73" name="BofA Securities, Inc."/>
        <borrower aggrVal="423374.38000000" lei="MBNUM2BPBDO7JBLYG310" name="Citigroup Global Markets Inc."/>
        <borrower aggrVal="1276733.54000000" lei="549300LCO2FLSSVFFR64" name="RBC Capital Markets, LLC"/>
        <borrower aggrVal="730146.31000000" lei="BFM8T61CT2L1QCEMIK50" name="UBS AG"/>
      </borrowers>
      <aggregateCondition isNonCashCollateral="Y">
        <aggregateInfos>
          <aggregateInfo amt="425563.48000000" collatrl="394464.28000000">
            <invstCat>UST</invstCat>
          </aggregateInfo>
        </aggregateInfos>
      </aggregateCondition>
      <returnInfo>
        <monthlyTotReturns>
          <monthlyTotReturn classId="C000057675" rtn1="-2.20000000" rtn2="-5.02000000" rtn3="-5.97000000"/>
        </monthlyTotReturns>
        <othMon1 netRealizedGain="1435664.24000000" netUnrealizedAppr="603717.03000000"/>
        <othMon2 netRealizedGain="2051611.81000000" netUnrealizedAppr="-1794531.38000000"/>
        <othMon3 netRealizedGain="688958.71000000" netUnrealizedAppr="-815735.00000000"/>
      </returnInfo>
      <mon1Flow redemption="898768.22000000" reinvestment="0.00000000" sales="175812.99000000"/>
      <mon2Flow redemption="533529.64000000" reinvestment="0.00000000" sales="300709.21000000"/>
      <mon3Flow redemption="572724.42000000" reinvestment="0.00000000" sales="85710.92000000"/>
      
      
    </fundInfo>
    <invstOrSecs>
      <invstOrSec>
        <name>Avantis Emerging Markets Equity ETF</name>
        <lei>549300FLNHJ0Y6F35177</lei>
        <title>Avantis Emerging Markets Equity ETF</title>
        <cusip>025072604</cusip>
        <identifiers>
          <isin value="US0250726041"/>
        </identifiers>
        <balance>30410.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2721999.10000000</valUSD>
        <pctVal>4.873550195482</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Distillate US Fundamental Stability &amp; Value ETF</name>
        <lei>5493002W0E8K4UD8QD78</lei>
        <title>Distillate U.S. Fundamental Stability &amp; Value ETF</title>
        <cusip>26922A321</cusip>
        <identifiers>
          <isin value="US26922A3216"/>
        </identifiers>
        <balance>30620.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1996424.00000000</valUSD>
        <pctVal>3.574458410168</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin FTSE Japan ETF</name>
        <lei>549300V7MZYC1Z30JS82</lei>
        <title>Franklin FTSE Japan ETF</title>
        <cusip>35473P744</cusip>
        <identifiers>
          <isin value="US35473P7446"/>
        </identifiers>
        <balance>45298.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1783835.24000000</valUSD>
        <pctVal>3.193833011410</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1153520.69000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Invesco Exchange-Traded Fund Trust - Invesco S&amp;P 500 Quality Etf</name>
        <lei>549300CMNB8U49G4GY75</lei>
        <title>Invesco Exchange-Traded Fund Trust - Invesco S&amp;P 500 Quality ETF</title>
        <cusip>46137V241</cusip>
        <identifiers>
          <isin value="US46137V2410"/>
        </identifiers>
        <balance>48021.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4065938.07000000</valUSD>
        <pctVal>7.279779510532</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares Core S&amp;P U.S. Growth ETF</name>
        <lei>549300JOHA1VZHAEBP32</lei>
        <title>iShares Core S&amp;P U.S. Growth ETF</title>
        <cusip>464287671</cusip>
        <identifiers>
          <isin value="US4642876712"/>
        </identifiers>
        <balance>25019.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4624261.77000000</valUSD>
        <pctVal>8.279419288987</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>iShares Core S&amp;P Small-Cap ETF</name>
        <lei>549300BZQ17QYN750B25</lei>
        <title>iShares Core S&amp;P Small-Cap ETF</title>
        <cusip>464287804</cusip>
        <identifiers>
          <isin value="US4642878049"/>
        </identifiers>
        <balance>21273.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3094370.58000000</valUSD>
        <pctVal>5.540255448671</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Janus Henderson Mortgage-Backed Securities ETF</name>
        <lei>549300V6TVE4ZJCDWY16</lei>
        <title>Janus Henderson Mortgage-Backed Securities ETF</title>
        <cusip>47103U852</cusip>
        <identifiers>
          <isin value="US47103U8523"/>
        </identifiers>
        <balance>19386.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>855310.32000000</valUSD>
        <pctVal>1.531373679452</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="838191.76000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Madison Core Bond Fund</name>
        <lei>254900KXQJDPZNNEA190</lei>
        <title>Madison Core Bond Fund</title>
        <cusip>557492196</cusip>
        <identifiers>
          <isin value="US5574921962"/>
        </identifiers>
        <balance>896573.94000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7916747.92000000</valUSD>
        <pctVal>14.17438689568</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Madison Large Cap Fund</name>
        <lei>5493000V85LMHCOTG216</lei>
        <title>Madison Large Cap Fund</title>
        <cusip>557492386</cusip>
        <identifiers>
          <isin value="US5574923869"/>
        </identifiers>
        <balance>161832.13000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4914841.82000000</valUSD>
        <pctVal>8.799682671690</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P Bank ETF</name>
        <lei>549300WRV3OCU6OV1X49</lei>
        <title>State Street SPDR S&amp;P Bank ETF</title>
        <cusip>78464A797</cusip>
        <identifiers>
          <isin value="US78464A7972"/>
        </identifiers>
        <balance>27175.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1892738.75000000</valUSD>
        <pctVal>3.388817176706</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="1854849.15000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Health Care Select Sector SPDR ETF</name>
        <lei>549300EJNY3KKJHPOY44</lei>
        <title>State Street Health Care Select Sector SPDR ETF</title>
        <cusip>81369Y209</cusip>
        <identifiers>
          <isin value="US81369Y2090"/>
        </identifiers>
        <balance>11860.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1927843.00000000</valUSD>
        <pctVal>3.451668896404</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Energy Select Sector SPDR ETF</name>
        <lei>54930064FLK0RD4TRU75</lei>
        <title>Energy Select Sector SPDR Fund ETF</title>
        <cusip>81369Y506</cusip>
        <identifiers>
          <isin value="US81369Y5069"/>
        </identifiers>
        <balance>18410.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1096315.50000000</valUSD>
        <pctVal>1.962876703131</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard FTSE All-World ex-US ETF</name>
        <lei>DHT9U5XH2TTB8CZQX861</lei>
        <title>Vanguard FTSE All-World ex-U.S. ETF</title>
        <cusip>922042775</cusip>
        <identifiers>
          <isin value="US9220427754"/>
        </identifiers>
        <balance>65731.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5445813.35000000</valUSD>
        <pctVal>9.750350290877</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard FTSE Europe ETF</name>
        <lei>5493000IQHGUVNGQR883</lei>
        <title>Vanguard FTSE Europe ETF</title>
        <cusip>922042874</cusip>
        <identifiers>
          <isin value="US9220428745"/>
        </identifiers>
        <balance>28543.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2585710.37000000</valUSD>
        <pctVal>4.629534697191</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="968044.74000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard Information Technology ETF</name>
        <lei>J2NTZGJBERBYMUMBIE74</lei>
        <title>Vanguard Information Technology ETF</title>
        <cusip>92204A702</cusip>
        <identifiers>
          <isin value="US92204A7028"/>
        </identifiers>
        <balance>30080.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3403552.00000000</valUSD>
        <pctVal>6.093823291468</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>VictoryShares Free Cash Flow ETF</name>
        <lei>5493000FVGQ9SU6HI752</lei>
        <title>VictoryShares Free Cash Flow ETF</title>
        <cusip>92647X830</cusip>
        <identifiers>
          <isin value="US92647X8305"/>
        </identifiers>
        <balance>110233.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5482989.42000000</valUSD>
        <pctVal>9.816911460283</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>549300BZ5TGIFZUZDZ37</lei>
        <title>State Street Institutional US Government Money Market Fund</title>
        <cusip>857492706</cusip>
        <identifiers>
          <isin value="US8574927062"/>
        </identifiers>
        <balance>2044491.94000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2044491.94000000</valUSD>
        <pctVal>3.660520715767</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street Global Advisors</name>
        <lei>5493008BJIBKQ5KTIF74</lei>
        <title>State Street Navigator Securities Lending Government Money Market Portfolio</title>
        <cusip>857509301</cusip>
        <identifiers>
          <isin value="US8575093013"/>
        </identifiers>
        <balance>4547708.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4547708.00000000</valUSD>
        <pctVal>8.142355084686</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="4547708.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-18</ncom:dateSigned>
      <ncom:nameOfApplicant>MADISON FUNDS</ncom:nameOfApplicant>
      <ncom:signature>Greg Hoppe</ncom:signature>
      <ncom:signerName>Greg Hoppe</ncom:signerName>
      <ncom:title>Chief Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
