Yahoo Finance
Madison Investments, an investment advisor, released its second-quarter 2026 investor letter for the "Madison Mid Cap Fund".
You can download a copy of the letterhere.
stock market indices posted their strongest second-quarter performance since 2020, driven largely by enthusiasm for Artificial Intelligence.
Nine of the ten largest companies in the Russell Midcap Index benefit directly from the AI data-center boom; one rose 257%, while the others gained between 17% and 136%.
A small group of AI-related stocks has powered most of the index's year-to-date returns, reversing the broader market participation seen earlier this year.
Although AI will reshape society and the economy, today's apparent winners may not remain so, and current valuations may prove unsustainable.
Other risks include unpredictable federal policy, partisan gridlock, expanding deficits, inflation, higher interest rates, stretched consumer finances, and geopolitical volatility.
The Class Y of the Fund returned 8.58% in the quarter compared to Russell Midcap's 13.83% return.
The firm believes its Mid Cap portfolio combines strong long-term growth prospects with resilience amid potential challenges.
Please review the Fund's top five holdings to gain insights into its key selections for 2026.
In its second-quarter 2026 investor letter, Madison Mid Cap Fund highlighted Arista Networks, Inc.
(NYSE:ANET) as one of its leading performance contributors.
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