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Madison Moderate Allocation Fund Q3 2025 Investment Strategy Letter

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Madison Investments is 100% employee-owned and has been based in Wisconsin’s capital city since its founding in 1974. In that time, Madison has grown from a local firm into a manager entrusted with approximately $22 billion in assets across a suite of mutual funds, active ETFs, managed accounts and customized portfolios. Note: This account is not managed or monitored by Madison Investments, and any messages sent via Seeking Alpha will not receive a response. For inquiries or communication, please use Madison Investments’ official channels.

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