madison investmentshas announced the first quarter 2026 investor letter for the Madison Large Cap Fund. A copy of the letter can be downloaded here. During the quarter, the Madison Large Cap Fund (Class I) fell 2.7%, outpacing the S&P 500’s return of 4.33%. The fund focuses on long-term capital growth. In the quarter, the stock market shifted away from large-cap technology stocks and into physical economy stocks, influenced by concerns about AI disruption. Additionally, rising commodity prices due to the Middle East conflict reignited inflation concerns, benefiting sectors in which the fund does not invest, such as energy, materials, utilities, consumer staples, and real estate, which affected the fund’s relative performance. Check out the fund’s top five holdings for insight into its key picks for 2026.
Madison Large Cap Fund highlighted Texas Instruments Inc. (NASDAQ:TXN) as a major investor in its Q1 2026 investor letter. Texas Instruments Incorporated (NASDAQ:TXN) is a semiconductor manufacturer that provides chips and solutions to electronics designers and manufacturers. On June 15, 2026, Texas Instruments, Inc. (NASDAQ:TXN) closed at $313.34 per share. Texas Instruments Inc. (NASDAQ:TXN)’s 1-month return is 5.26%, and the company’s stock has moved 60.96% over the past 52 weeks. Texas Instruments Inc. (NASDAQ:TXN) has a market capitalization of $285.17 billion.
In its Q1 2026 investor letter, Madison Large Cap Fund said of Texas Instruments Inc. (NASDAQ:TXN):
“The top five contributors this quarter were Keysight Technologies, Analog Devices, texas instruments company (NASDAQ:TXN), Dear, PACCAR. Analog Devices and Texas Instruments reported strong operating results and favorable outlooks due to concurrent improvements in end-market conditions and demand for products used in data centers. ”
Texas Instruments Incorporated (NASDAQ:TXN) isn’t on our list of 40 most popular stocks for hedge funds heading into 2026. Our database shows that 71 hedge fund portfolios owned Texas Instruments Incorporated (NASDAQ:TXN) at the end of the first quarter, up from 78 at the prior quarter. Texas Instruments, Inc. (NASDAQ:TXN) announced first quarter 2026 sales of $4.8 billion. This marked a 9% quarter-over-quarter growth and a 19% year-over-year increase. While we like Texas Instruments Inc. (NASDAQ:TXN) as an investment, we think certain AI stocks offer more upside potential and less downside risk. If you’re looking for highly undervalued AI stocks that could also benefit greatly from Trump-era tariffs and onshoring trends, check out our free report. Best short-term AI stocks.
