Madison Small Cap Fund’s Q1 2021 Investor Letter

Madison Funds, an investment management firm, published its “Madison Small Cap Fund” first quarter 2021 investor letter – a copy of which can be downloaded here. The Madison Small Cap Fund Class Y (at NAV) outperformed the Russell 2000 Index by 103 basis points (bps) and by 280 bps compared to the Russell 2500 Index  for the Q1 of 2021. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.