NPORT-P false 0001289868 XXXXXXXX Madison Covered Call & Equity Strategy Fund 811-21582 0001289868 254900DMET709D189F74 550 SCIENCE DRIVE MADISON 53711 608-274-0300 Madison Covered Call & Equity Strategy Fund 254900DMET709D189F74 2024-12-31 2024-06-30 N 150209158.28 7479371.86 142729786.42 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 N Securities Portfolio VaR Designated Reference Portfolio is the Fund`s Securities Portfolio Honeywell International Inc ISRPG12PN4EIEOEMW547 438516106 10300.00000000 NS USD 2199462.00000000 1.540997191383 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -260.00000000 NC USD -66040.00000000 -0.04626924880 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written ConocoPhillips ConocoPhillips 100.00000000 120.00000000 USD 2024-09-20 XXXX -5915.86000000 N N N BlackRock Inc 549300LRIF3NWCU26A80 09247X101 5700.00000000 NS USD 4487724.00000000 3.144209847546 Long EC CORP US N 1 N N N United Parcel Service Inc D01LMJZU09ULLNCY6Z23 911312106 15800.00000000 NS USD 2162230.00000000 1.514911536150 Long EC CORP US N 1 N N N Accenture PLC 5493000EWHDSR3MZWH98 000000000 7100.00000000 NS USD 2154211.00000000 1.509293227456 Long EC CORP IE N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -320.00000000 NC USD -74400.00000000 -0.05212647049 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Charles Schwab Corp. Charles Schwab Corp. 100.00000000 75.00000000 USD 2024-08-16 XXXX -15274.24000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -200.00000000 NC USD -14500.00000000 -0.01015905674 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Archer-Daniels-Midland Co. Archer-Daniels-Midland Co. 100.00000000 65.00000000 USD 2024-08-16 XXXX 17307.74000000 N N N Union Pacific Corp 549300LMMRSZZCZ8CL11 907818108 7000.00000000 NS USD 1583820.00000000 1.109663259313 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -510.00000000 NC USD -75225.00000000 -0.05270448578 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Matador Resources Co. Matador Resources Co. 100.00000000 65.00000000 USD 2024-09-20 XXXX -6900.60000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -142.00000000 NC USD -32660.00000000 -0.02288239954 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written CME Group, Inc. CME Group, Inc. 100.00000000 210.00000000 USD 2024-09-20 XXXX -3696.62000000 N N N Air Products and Chemicals Inc 7QEON6Y1RL5XR3R1W237 009158106 13600.00000000 NS USD 3509480.00000000 2.458828033044 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -180.00000000 NC USD -1890.00000000 -0.00132418050 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written PepsiCo, Inc. PepsiCo, Inc. 100.00000000 180.00000000 USD 2024-07-19 XXXX 80279.91000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -278.00000000 NC USD -40310.00000000 -0.02824217776 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Starbucks Corp. Starbucks Corp. 100.00000000 85.00000000 USD 2024-08-16 XXXX 3596.97000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -475.00000000 NC USD -13062.50000000 -0.00915190888 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Newmont Corp. Newmont Corp. 100.00000000 50.00000000 USD 2024-08-16 XXXX 38699.33000000 N N N 3M Co LUZQVYP4VS22CLWDAR65 88579Y101 14500.00000000 NS USD 1481755.00000000 1.038154009170 Long EC CORP US N 1 N N N Agilent Technologies Inc QUIX8Y7A2WP0XRMW7G29 00846U101 25000.00000000 NS USD 3240750.00000000 2.270549183380 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -40.00000000 NC USD -27600.00000000 -0.01933723905 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Constellation Brands, Inc. Constellation Brands, Inc. 100.00000000 265.00000000 USD 2024-09-20 XXXX -41.84000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -57.00000000 NC USD -105450.00000000 -0.07388086442 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written BlackRock, Inc. 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Microchip Technology, Inc. 100.00000000 105.00000000 USD 2024-07-19 XXXX 35604.30000000 N N N Medtronic PLC 549300GX3ZBSQWUXY261 000000000 53300.00000000 NS USD 4195243.00000000 2.939290462927 Long EC CORP IE N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -30.00000000 NC USD -159450.00000000 -0.11171459300 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Adobe, Inc. Adobe, Inc. 100.00000000 510.00000000 USD 2024-08-16 XXXX -93917.83000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -1225.00000000 NC USD -11637.50000000 -0.00815351882 N/A DE CA N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Barrick Gold Corp. Barrick Gold Corp. 100.00000000 20.00000000 USD 2024-08-16 XXXX 42229.17000000 N N N PepsiCo Inc FJSUNZKFNQ5YPJ5OT455 713448108 24700.00000000 NS USD 4073771.00000000 2.854184191106 Long EC CORP US N 1 N N N Texas Instruments Inc WDJNR2L6D8RWOEB8T652 882508104 11500.00000000 NS USD 2237095.00000000 1.567363797082 Long EC CORP US N 1 N N N CME Group Inc LCZ7XYGSLJUHFXXNXD88 12572Q105 14200.00000000 NS USD 2791720.00000000 1.955947717727 Long EC CORP US N 1 N N N PayPal Holdings Inc 5493005X2GO78EFZ3E94 70450Y103 51300.00000000 NS USD 2976939.00000000 2.085716706140 Long EC CORP US N 1 N N N Lumen Technologies Inc 8M3THTGWLTYZVE6BBY25 550241103 124000.00000000 NS USD 136400.00000000 0.095565195900 Long EC CORP US N 1 N N N Microchip Technology Inc 5493007PTFULNYZJ1R12 595017104 24700.00000000 NS USD 2260050.00000000 1.583446634852 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -90.00000000 NC USD -11250.00000000 -0.00788202678 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Automatic Data Processing, Inc. Automatic Data Processing, Inc. 100.00000000 260.00000000 USD 2024-08-16 XXXX 39057.18000000 N N N Archer-Daniels-Midland Co 549300LO13MQ9HYSTR83 039483102 40000.00000000 NS USD 2418000.00000000 1.694110290955 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -40.00000000 NC USD -19400.00000000 -0.01359211730 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written American Tower Corp. 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Microchip Technology, Inc. 100.00000000 95.00000000 USD 2024-08-16 XXXX -7394.56000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -180.00000000 NC USD 0.00000000 0.000000 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Agilent Technologies, Inc. Agilent Technologies, Inc. 100.00000000 160.00000000 USD 2024-07-19 XXXX 67757.88000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -115.00000000 NC USD -58937.50000000 -0.04129306256 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Texas Instruments, Inc. Texas Instruments, Inc. 100.00000000 200.00000000 USD 2024-08-16 XXXX -7307.03000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -70.00000000 NC USD -58100.00000000 -0.04070628945 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Union Pacific Corp. Union Pacific Corp. 100.00000000 225.00000000 USD 2024-08-16 XXXX -20188.84000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -245.00000000 NC USD -21070.00000000 -0.01476216039 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written CVS Health Corp. CVS Health Corp. 100.00000000 65.00000000 USD 2024-08-16 XXXX 13126.91000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -158.00000000 NC USD -36261.00000000 -0.02540534874 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written United Parcel Service, Inc. United Parcel Service, Inc. 100.00000000 145.00000000 USD 2024-08-16 XXXX 10975.44000000 N N N State Street Global Advisors 549300BZ5TGIFZUZDZ37 857492706 30870538.86000000 NS USD 30870538.86000000 21.62865904469 Long STIV RF US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -475.00000000 NC USD -5225.00000000 -0.00366076355 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Newmont Corp. Newmont Corp. 100.00000000 47.50000000 USD 2024-07-19 XXXX 45178.34000000 N N N Abbott Laboratories HQD377W2YR662HK5JX27 002824100 27000.00000000 NS USD 2805570.00000000 1.965651368484 Long EC CORP US N 1 N N N Ciena Corp W0CZ7N0GH8UIGXDM1H41 171779309 68500.00000000 NS USD 3300330.00000000 2.312292397249 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -620.00000000 NC USD -7750.00000000 -0.00542984067 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Las Vegas Sands Corp. Las Vegas Sands Corp. 100.00000000 50.00000000 USD 2024-07-19 XXXX 75641.28000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -230.00000000 NC USD -48990.00000000 -0.03432359931 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Morgan Stanley Morgan Stanley 100.00000000 100.00000000 USD 2024-08-16 XXXX -2831.87000000 N N N Nordstrom Inc 549300S3IZB5P35KNV16 655664100 156000.00000000 NS USD 3310320.00000000 2.319291637037 Long EC CORP US N 1 N N N APA Corp 549300VCIWLRHYVSHC79 03743Q108 102700.00000000 NS USD 3023488.00000000 2.118330080802 Long EC CORP US N 1 N N N Charles Schwab Corp/The 549300VSGCJ7E698NM85 808513105 32000.00000000 NS USD 2358080.00000000 1.652128864721 Long EC CORP US N 1 N N N Pfizer Inc 765LHXWGK1KXCLTFYQ30 717081103 74000.00000000 NS USD 2070520.00000000 1.450657253775 Long EC CORP US N 1 N N N Solventum Corp 254900I70403OSGY4M28 83444M101 3125.00000000 NS USD 165250.00000000 0.115778215707 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -1170.00000000 NC USD -40950.00000000 -0.02869057750 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written AES Corp. AES Corp. 100.00000000 19.00000000 USD 2024-08-16 XXXX 33897.98000000 N N N Starbucks Corp OQSJ1DU9TAOC51A47K68 855244109 27800.00000000 NS USD 2164230.00000000 1.516312785357 Long EC CORP US N 1 N N N Morgan Stanley IGJSJL3JD5P30I6NJZ34 617446448 23000.00000000 NS USD 2235370.00000000 1.566155219641 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -165.00000000 NC USD -158400.00000000 -0.11097893717 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written T-Mobile U.S., Inc. T-Mobile U.S., Inc. 100.00000000 170.00000000 USD 2024-08-16 XXXX -101822.23000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -115.00000000 NC USD -24437.50000000 -0.01712151374 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written American Tower Corp. American Tower Corp. 100.00000000 200.00000000 USD 2024-07-19 XXXX 27383.74000000 N N N AES Corp/The 2NUNNB7D43COUIRE5295 00130H105 234000.00000000 NS USD 4111380.00000000 2.880533981814 Long EC CORP US N 1 N N N Matador Resources Co 549300CI3Q2UUK5R4G79 576485205 51000.00000000 NS USD 3039600.00000000 2.129618544412 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -136.00000000 NC USD -53720.00000000 -0.03763755369 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Air Products & Chemicals, Inc. Air Products & Chemicals, Inc. 100.00000000 280.00000000 USD 2024-09-20 XXXX 18218.35000000 N N N Danaher Corp S4BKK9OTCEWQ3YHPFM11 235851102 9000.00000000 NS USD 2248650.00000000 1.575459514374 Long EC CORP US N 1 N N N Automatic Data Processing Inc HGBOLILQXWER4SAL2I23 053015103 9000.00000000 NS USD 2148210.00000000 1.505088779211 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -43.00000000 NC USD -17092.50000000 -0.01197542603 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written T-Mobile U.S., Inc. T-Mobile U.S., Inc. 100.00000000 180.00000000 USD 2024-08-16 XXXX 492.86000000 N N N T-Mobile US Inc 549300QHIJYOHPACPG31 872590104 20800.00000000 NS USD 3664544.00000000 2.567469686542 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -103.00000000 NC USD -29870.00000000 -0.02092765690 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Honeywell International, Inc. Honeywell International, Inc. 100.00000000 220.00000000 USD 2024-08-16 XXXX 6073.23000000 N N N Las Vegas Sands Corp 549300DUOO1KXOHPM605 517834107 123900.00000000 NS USD 5482575.00000000 3.841226934836 Long EC CORP US N 1 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -90.00000000 NC USD -15075.00000000 -0.01056191589 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Danaher Corp. Danaher Corp. 100.00000000 260.00000000 USD 2024-07-19 XXXX 25332.26000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -71.00000000 NC USD -12780.00000000 -0.00895398243 N/A DE IE N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Accenture PLC Accenture PLC 100.00000000 330.00000000 USD 2024-08-16 XXXX 45366.62000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -185.00000000 NC USD -3700.00000000 -0.00259231103 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Fastenal Co. Fastenal Co. 100.00000000 69.62000000 USD 2024-07-19 XXXX 26634.79000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -90.00000000 NC USD -66600.00000000 -0.04666159858 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Constellation Brands, Inc. Constellation Brands, Inc. 100.00000000 255.00000000 USD 2024-07-19 XXXX -12693.92000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -135.00000000 NC USD -79312.50000000 -0.05556828885 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written Lowe's Cos., Inc. Lowe's Cos., Inc. 100.00000000 230.00000000 USD 2024-09-20 XXXX -11479.16000000 N N N Options Clearing Corp. 549300CII6SLYGKNHA04 000000000 -513.00000000 NC USD -16416.00000000 -0.01150145348 N/A DE US N 1 Options Clearing Corp. 549300CII6SLYGKNHA04 Call Written PayPal Holdings, Inc. PayPal Holdings, Inc. 100.00000000 72.50000000 USD 2024-08-16 XXXX 81747.38000000 N N N Fastenal Co 529900PP0C7H2HHPSJ32 311900104 33000.00000000 NS USD 2073720.00000000 1.452899252506 Long EC CORP US N 1 N N N ConocoPhillips WPTL2Z3FIYTHSP5V2253 20825C104 26000.00000000 NS USD 2973880.00000000 2.083573495478 Long EC CORP US N 1 N N N 2024-07-15 Madison Covered Call & Equity Strategy Fund Greg Hoppe Greg Hoppe Chief Financial Officer