Madison Small Cap Fund’s Q3 2021 Investor Letter

Madison Funds, an investment management firm, published its “Madison Small Cap Fund” third quarter 2021 investor letter – a copy of which can be downloaded here. The Madison Small Cap Fund Class Y declined 4.70%, slightly underperforming the Russell 2000 by 34 basis points (bps) for the third quarter of 2021, while the Russell 2000 index was down 4.36% for the same period. You can take a look at the fund’s top 5 holdings to have an idea about their best picks for 2021.