Institution Information
Reportee Signature Date Report period Total Entries Total Value($)
MADISON INVESTMENT HOLDINGS INC 08-13-2019 06-30-2019 219 5,663,945,000
Institutional Holdings
Issuer Class Position Value Shares Portfolio Percentage (%) Previous Percentage (%) Shares Delta Shares Delta(%)
CarMax Inc COM 1 $131,965,000 1,519,806 2.33 1.92 20,494 1.37
Dollar Tree Inc. COM 2 $127,378,000 1,186,128 2.25 2.26 16,083 1.37
Vanguard Short-Term Corporate SHRT TRM CORP BD 3 $121,917,000 1,511,122 2.15 1.98 157,883 11.67
Brookfield Asset Management In CL A LTD VT SH 4 $116,669,000 2,441,797 2.06 2.06 32,891 1.37
Schwab Intermediate-Term U.S. INTRM TRM TRES 5 $113,330,000 2,062,042 2.00 2.63 -598,323 -22.49
U.S. Bancorp COM 6 $104,622,000 1,996,597 1.85 1.75 23,257 1.18
Jacobs Engineering Group Inc COM 7 $102,946,000 1,219,882 1.82 1.82 -96,681 -7.34
Copart Inc COM 8 $98,556,000 1,318,646 1.74 1.45 14,169 1.09
CDW Corp/DE COM 9 $98,323,000 885,791 1.74 1.55 7,308 0.83
Progressive Corp COM 10 $96,877,000 1,212,019 1.71 0.10 1,136,194 1498.44
Vanguard FTSE All-World ex-US ALLWRLD EX US 11 $91,225,000 1,789,070 1.61 1.88 -254,352 -12.45
Arch Capital Group Ltd COM 12 $87,623,000 2,363,088 1.55 1.38 43,455 1.87
TE Connectivity Ltd REG SHS 13 $87,350,000 911,981 1.54 1.36 -3,196 -0.35
Berkshire Hathaway Inc CL B 14 $82,295,000 386,054 1.45 1.27 40,824 11.83
Lowe's Cos Inc COM 15 $80,137,000 794,140 1.41 1.41 91,535 13.03
Novartis AG - ADR SPONSORED ADR 16 $78,524,000 859,967 1.39 1.52 -2,502 -0.29
Liberty Broadband Corp COM SER C 17 $78,238,000 750,700 1.38 1.24 13,999 1.90
iShares Core S&P 500 ETF CORE S&P500 ETF 18 $76,921,000 260,970 1.36 0.52 160,900 160.79
Alphabet Inc CAP STK CL C 19 $76,246,000 70,539 1.35 1.49 1,463 2.12
iShares Edge MSCI Min Vol EAFE MIN VOL EAFE ETF 20 $75,896,000 1,044,821 1.34 1.11 206,281 24.60
iShares 20 Year Treasury Bond 20 YR TR BD ETF 21 $75,399,000 567,719 1.33 1.46 -62,064 -9.85
Linde PLC COM 22 $72,636,000 361,732 1.28 1.30 -40,228 -10.01
TJX Cos Inc COM 23 $72,332,000 1,367,854 1.28 1.37 -36,216 -2.58
SPDR S&P 500 ETF Trust TR UNIT 24 $71,573,000 244,275 1.26 1.35 -16,804 -6.44
PPG Industries Inc COM 25 $71,466,000 612,338 1.26 1.26 4,775 0.79
Markel Corp COM 26 $71,075,000 65,230 1.25 1.02 9,214 16.45
Schwab US TIPS ETF US TIPS ETF 27 $69,747,000 1,238,617 1.23 1.06 191,203 18.25
Fastenal Co COM 28 $62,122,000 1,906,167 1.10 1.11 969,577 103.52
Brown & Brown Inc. COM 29 $61,606,000 1,838,984 1.09 0.98 22,029 1.21
IHS Markit Ltd SHS 30 $60,725,000 953,005 1.07 0.88 68,364 7.73
Visa Inc COM CL A 31 $59,884,000 345,051 1.06 0.93 20,606 6.35
Analog Devices Inc COM 32 $58,564,000 518,864 1.03 1.00 3,243 0.63
O'Reilly Automotive Inc COM 33 $57,619,000 156,014 1.02 1.09 2,548 1.66
Exxon Mobil Corp COM 34 $55,019,000 717,987 0.97 0.50 377,959 111.16
Laboratory Corp of America Hol COM 35 $54,579,000 315,667 0.96 0.86 8,763 2.86
Danaher Corp COM 36 $53,605,000 375,068 0.95 1.17 -106,849 -22.17
iShares Core S&P Mid-Cap ETF CORE S&P MCP ETF 37 $53,598,000 275,907 0.95 0.97 -4,389 -1.57
Axalta Coating Systems Ltd COM 38 $53,280,000 1,789,724 0.94 0.81 40,354 2.31
JPMorgan Chase & Co COM 39 $52,426,000 468,928 0.93 0.43 237,372 102.51
Cognizant Technology Solutions CL A 40 $51,204,000 807,755 0.90 1.08 -3,526 -0.43
Accenture PLC COM 41 $49,764,000 269,328 0.88 0.80 22,602 9.16
Ross Stores Inc COM 42 $49,322,000 497,602 0.87 0.83 12,440 2.56
Vanguard Total Bond Market ETF TOTAL BND MRKT 43 $48,951,000 589,277 0.86 0.92 -27,588 -4.47
Verizon Communications Inc COM 44 $48,542,000 849,675 0.86 0.84 73,521 9.47
Vanguard Large-Cap ETF LARGE CAP ETF 45 $47,729,000 354,282 0.84 0.82 9,817 2.85
PACCAR Inc. COM 46 $44,684,000 623,553 0.79 0.78 3,399 0.55
WR Berkley Corp COM 47 $42,908,000 650,810 0.76 0.66 224,791 52.77
Vanguard Information Technolog INF TECH ETF 48 $42,853,000 203,201 0.76 1.39 -175,299 -46.31
Vanguard Short-Term Treasury E SHORT TERM TREAS 49 $42,188,000 692,393 0.74 0.66 102,001 17.28
Crown Castle International Cor COM Liquidated $0 0 0.75 0.68 9,498 3.09
Amphenol Corp CL A 51 $39,879,000 415,666 0.70 0.71 8,953 2.20
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