Did the fund beat the benchmark?

Yes, it outperformed by 1.63 percentage points.

What is the fund's strategy?

The fund focuses on long-term capital appreciation by investing in large-cap companies with competitive advantages.

How did Danaher's performance affect the fund?

The source did not provide specific details, but Danaher's recovery falling short of expectations negatively impacted the fund.

Madison Large Cap Fund Outperforms S&P 500 in Q1 2026

Madison Large Cap Fund declined 2.7% in the first quarter of 2026, outperforming the S&P 500's -4.33% return. The fund focuses on long-term capital appreciation.

June 15, 2026

2 min read

Source: Insider Monkey

Key Numbers

fund return

-2.7%

benchmark return

-4.33%

According to the first-quarter 2026 investor letter from Madison Investments, the Madison Large Cap Fund (Class I) declined 2.7% in the quarter, outperforming the S&P 500's -4.33% return. The fund focuses on long-term capital appreciation.

Fund Performance

The fund posted a negative return of -2.7% in Q1, beating the benchmark by 1.63 percentage points.

Investment Strategy

Madison Large Cap Fund invests in large-cap companies with strong competitive advantages and effective management, aiming for sustainable long-term capital growth.

Market Impact

The source did not provide specific details on Danaher Corporation (DHR) stock performance separately, but the fund holds Danaher, whose recovery fell short of investor expectations, according to the letter.

What This Means for Investors

The fund's relative resilience amid a broader market decline may reflect strong stock selection. However, Danaher's underwhelming recovery suggests challenges in the healthcare sector.

Frequently Asked Questions

The fund declined 2.7%, outperforming the S&P 500 which fell 4.33%.

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This article was rewritten in Wrqti's editorial style based on information from the original source above. Content is informational only — not investment advice.