Hayward Holdings, Inc. (HAYW) Was Down in Q3 2026, but This Fund Remains Confident in Its Investment Thesis

Madison Investments, an investment advisor, released its “Madison Small Cap Fund” Q3 2026 investor letter. A copy of the letter can be downloaded here. The Fund outperformed its small-cap benchmarks during the third quarter of 2026, despite a challenging environment for quality-focused investors as speculative AI-related stocks retreated, inflation remained persistent, and rising bond yields pressured rate-sensitive businesses. The Fund’s Class R6 shares declined 5.80%, compared with...