- Mid Cap Fund
Fund Objective
The Mid Cap Fund seeks long-term capital appreciation.
Investment Strategies
The Mid Cap Fund invests generally in common stocks, securities convertible into common stocks and related equity securities of mid-size and smaller companies. The fund will maintain at least 80% of its assets in mid cap securities. The fund seeks attractive long-term returns through bottom-up security selection based on fundamental analysis in a diversified portfolio of high-quality growth companies with attractive valuations. These will typically be industry leading companies in niches with strong growth prospects.
Key Highlights
(as of Tuesday February 07, 2023) | ||||
Class A | Class Y | Class I | Class R6 | |
Daily Price | 12.69 | 13.70 | 13.72 | 14.11 |
Ticker Symbol | MERAX | GTSGX | MDCIX | MMCRX |
Inception Date | 4/19/13 | 7/21/83 | 8/31/2020 | 2/29/12 |
Expense Ratio 1 | 1.40 | 0.95 | 0.85 | 0.77 |
Links to other Madison Funds information:
Daily Price Summary
Performance Summary (PDF)
Prospectus and Financial Reports
Account Applications and Forms
Tax Information
Portfolio Management

Rich Eisinger
Rich EisingerHead of Equities
Rich has served as portfolio manager on the U.S. Equity Team since 1998. In addition to his portfolio management duties, Rich also serves as an equity analyst on the team. Prior to joining Madison, Rich worked as an investment manager for Spectrum Advisors. He holds a JD degree from the University of Louisville and an MBA from Cornell University.
Rich has served as portfolio manager on the U.S. Equity Team since 1998. In addition to his portfolio management duties, Rich also serves as an equity analyst on the team. Prior to joining Madison, Rich worked as an investment manager for Spectrum Advisors. He holds a JD degree from the University of Louisville and an MBA from Cornell University.

Haruki Toyama
Haruki ToyamaDirector of Research, Portfolio Manager
Haruki serves as a mid-cap and large cap portfolio manager and analyst on Madison's U.S. Equity Team. He brings over 20 years of investment experience and is the team’s Director of Research. Haruki started in the financial services industry in 1994, was a member of the Madison U.S. Equity Team from 2002-2004 and he rejoined the firm in 2014. Outside of his tenure at Madison, Haruki was co-founder and President of Marcus Asset Management in Milwaukee where he was portfolio manager of a long/short hedge fund and started his career working in analyst and portfolio manager roles at MFS Investment Management and David L. Babson & Company. Haruki holds a BA from Brown University and an MBA from Cornell University.
Haruki serves as a mid-cap and large cap portfolio manager and analyst on Madison's U.S. Equity Team. He brings over 20 years of investment experience and is the team’s Director of Research. Haruki started in the financial services industry in 1994, was a member of the Madison U.S. Equity Team from 2002-2004 and he rejoined the firm in 2014. Outside of his tenure at Madison, Haruki was co-founder and President of Marcus Asset Management in Milwaukee where he was portfolio manager of a long/short hedge fund and started his career working in analyst and portfolio manager roles at MFS Investment Management and David L. Babson & Company. Haruki holds a BA from Brown University and an MBA from Cornell University.

Andy Romanowich, CFA
Andy Romanowich, CFAPortfolio Manager
Andy serves as a portfolio manager and analyst on Madison’s U.S. Equity Team. Prior to joining Madison, Andy worked for MEMBERS Capital Advisors where he was an equity analyst. He holds a BS and MS degree in Finance from the University of Wisconsin and graduated from the Applied Security Analysis Program.
Andy serves as a portfolio manager and analyst on Madison’s U.S. Equity Team. Prior to joining Madison, Andy worked for MEMBERS Capital Advisors where he was an equity analyst. He holds a BS and MS degree in Finance from the University of Wisconsin and graduated from the Applied Security Analysis Program.
Portfolio Highlights
Top Ten Fund Holdings | |
(as of December 31, 2022) | |
ARCH CAPITAL GROUP LTD | 9.1% |
GARTNER INC | 6.4% |
ROSS STORES INC | 6.4% |
DOLLAR TREE INC | 4.7% |
BROWN + BROWN INC | 4.2% |
LABORATORY CRP OF AMER HLDGS | 3.8% |
PACCAR INC | 3.7% |
CARLISLE COS INC | 3.7% |
CDW CORP/DE | 3.6% |
LIBERTY BROADBAND C | 3.6% |
% of Fund in Top Ten Securities | 49.2% |
Net Assets (as of 12/31/22) | $686.2 Million |
Turnover (as of 10/31/22) | 24% |
Investing in small, mid-size or emerging growth companies involves greater risks not associated with investing in more established companies, such as business risk, significant stock price fluctuations and illiquidity. Please see prospectus for further details.
1 The management fee is 0.75% on assets up to $500 million, and reduced annually by 0.05% on assets exceeding $500 million, and by another 0.05% on assets exceeding $1 billion.
1 The management fee is 0.75% on assets up to $500 million, and reduced annually by 0.05% on assets exceeding $500 million, and by another 0.05% on assets exceeding $1 billion.