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    <submissionType>13F-HR</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <flags>
        <confirmingCopyFlag>false</confirmingCopyFlag>
        <returnCopyFlag>false</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
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      <filer>
        <credentials>
          <cik>0001138060</cik>
          <ccc>XXXXXXXX</ccc>
        </credentials>
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      <periodOfReport>12-31-2016</periodOfReport>
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    <coverPage>
      <reportCalendarOrQuarter>12-31-2016</reportCalendarOrQuarter>
      <filingManager>
        <name>MADISON INVESTMENT HOLDINGS INC</name>
        <address>
          <com:street1>550 SCIENCE DR</com:street1>
          <com:city>MADISON</com:city>
          <com:stateOrCountry>WI</com:stateOrCountry>
          <com:zipCode>53711</com:zipCode>
        </address>
      </filingManager>
      <reportType>13F HOLDINGS REPORT</reportType>
      <form13FFileNumber>028-03477</form13FFileNumber>
      <provideInfoForInstruction5>Y</provideInfoForInstruction5>
      <additionalInformation>Madison Asset Management, LLC, Madison Investment Advisors, LLC and Madison Investment Holdings, Inc. share all resources and personnel at their 550 Science Drive office and, as such, no distinction is made among the three in the information table presented in this report. Due to rounding, certain dollar values may be higher or lower than the amounts would have been absent such rounding.</additionalInformation>
    </coverPage>
    <signatureBlock>
      <name>William Luetzow</name>
      <title>Assistant Counsel &amp; Compliance Analyst</title>
      <phone>608-216-9178</phone>
      <signature>William Luetzow</signature>
      <city>Madison</city>
      <stateOrCountry>WI</stateOrCountry>
      <signatureDate>02-13-2017</signatureDate>
    </signatureBlock>
    <summaryPage>
      <otherIncludedManagersCount>2</otherIncludedManagersCount>
      <tableEntryTotal>248</tableEntryTotal>
      <tableValueTotal>5161637</tableValueTotal>
      <isConfidentialOmitted>false</isConfidentialOmitted>
      <otherManagers2Info>
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            <form13FFileNumber>028-10986</form13FFileNumber>
            <name>Madison Asset Management, LLC</name>
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          <sequenceNumber>2</sequenceNumber>
          <otherManager>
            <cik>0001507115</cik>
            <form13FFileNumber>028-14137</form13FFileNumber>
            <name>Madison Investment Advisors, LLC</name>
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