Madison Dividend Income Fund’s Q2 2026 Investor Letter

Madison Dividend Income Fund, managed by Madison Funds, released its Q2 2026 investor letter. The Fund aims to generate income and capital appreciation from a high-quality, high-dividend portfolio. The Fund (class I) returned +1.8% in the second quarter, which compared to the S&P 500 Index, Russell 1000 Value Index, and Lipper Equity Income peer group returns of +15.2%, +13.9%, and +9.7%, respectively. YTD, the Fund returned +7.7%, compared with +10.2%, +16.3%, and +9.9% for the indexes, respectively. The Technology sector performed strongly, while Energy lagged. The firm sees the Energy sector’s decline as an opportunity to buy undervalued energy stocks with good dividends. With S&P 500 valuations at all-time highs, risks include market correction and multiple contraction. The Fund aims to mitigate these risks by maintaining a diversified mix of high-quality, high-yield stocks in undervalued sectors. In addition, please check the Fund’s top five holdings to know its best picks in 2026.

A copy of Madison Dividend Income Fund’s Q2 2026 investor letter can be downloaded here.

1281292 - 11759070 - 1