Madison Investments, an investment advisor, released its first-quarter 2026 investor letter for the “Madison Large Cap Fund”. A copy of the letter is available to download here. 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. The quarter saw a shift in the equity market beyond the mega-cap technology stocks into physical economy stocks, influenced by fears of AI disruption. Additionally, rising commodity prices due to the Middle East conflict reignited inflation concerns, benefiting sectors such as Energy, Materials, Utilities, Staples, and Real Estate, which the Fund does not invest in, impacting its relative performance. Please review the Fund’s top five holdings to gain insights into their key selections for 2026.
In its first-quarter 2026 investor letter, Madison Large Cap Fund highlighted Gartner, Inc. (NYSE:IT). Established in 1979, Gartner, Inc. (NYSE:IT) is a research and advisory company that provides business and technology insights to help businesses make informed decisions. On June 12, 2026, Gartner, Inc. (NYSE:IT) closed at $148.17 per share. One-month return of Gartner, Inc. (NYSE:IT) was -4.67%, and its shares lost 63.78% over the past 52 weeks. Gartner, Inc. (NYSE:IT) has a market capitalization of $9.92 billion.
Madison Large Cap Fund stated the following regarding Gartner, Inc. (NYSE:IT) in its Q1 2026 investor letter:
“The bottom five detractors for the quarter were Gartner, Inc. (NYSE:IT), Danaher, Workday, Accenture, and Agilent Technologies. Gartner shares were down following another quarter of disappointing subscription revenue growth. The results added fuel to investor concerns of potential disruption risk from AI. While likely not totally immune, the company has made several enhancements to the core product and analyst team which we believe will be reflected in results steadily improving in the coming year.”
Gartner, Inc. (NYSE:IT) is not on our list of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. As per our database, 36 hedge fund portfolios held Gartner, Inc. (NYSE:IT) at the end of the first quarter, which was 50 in the previous quarter. In the first quarter of 2026, Gartner, Inc. (NYSE:IT) reported revenue of $1.5 billion, reflecting a 2% year-over-year increase on a reported basis, but a 1% decline on FX neutral basis. While we acknowledge the risk and potential of Gartner, Inc. (NYSE:IT) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than GARTNER, INC. (NYSE:IT) and that has 10,000% upside potential, check out our report about this cheapest AI stock.
In another article, we covered Gartner, Inc. (NYSE:IT) and shared Baron Small Cap Fund’s views on the company. In addition, please check out our hedge fund investor letters Q1 2026 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
