MADISON ETFS TRUST

Ticker: CVRD CUSIP: 557441409 Class: ETF

Holders for Q4 2025 Position Changes for Q4 2025

Note: Option positions (PUT/CALL) are excluded.

New Positions (2)

SUSQUEHANNA INTERNATIONAL GROUP, LLP

Value ($000) $323 Shares 17,540

Value ($000) $4 Shares 207

Institution	Shares	Value ($000)
SUSQUEHANNA INTERNATIONAL GROUP, LLP	17,540	$323
UBS Group AG	207	$4

Decreased Positions (3)

Madison Asset Management, LLC

Value ($000) $34,743 (-15.2%) Shares 1,885,000 (-14.5%)

OLD MISSION CAPITAL LLC

Value ($000) $265 (-75.7%) Shares 14,388 (-75.5%)

ROYAL BANK OF CANADA

Value ($000) $117 (-78.6%) Shares 6,367 (-78.4%)

Institution	Prev Shares	Curr Shares	Change
Madison Asset Management, LLC	2,205,000	1,885,000	-320,000 (-14.5%)
OLD MISSION CAPITAL LLC	58,798	14,388	-44,410 (-75.5%)
ROYAL BANK OF CANADA	29,499	6,367	-23,132 (-78.4%)