Here’s Why Madison Large Cap Fund Chose to Exit Nike (NKE)

Core Insights - Madison Investments reported a 3.43% appreciation for the Madison Large Cap Fund in Q4 2025, outperforming the S&P 500's 2.65% return [1] - The S&P 500 achieved a full-year return of 17.9% for 2025, with a three-year annual growth rate exceeding 21% [1] - Market leadership was characterized by High Beta and Momentum factors, with improvements in sectors like Healthcare, Financials, and Consumer Discretionary [1] Company-Specific Insights - NIKE, Inc. (NYSE:NKE) had a market capitalization of $94.878 billion, with a one-month return of -2.76% and a 52-week loss of 21.04% [2] - Madison Large Cap Fund sold its shares in NIKE, citing the stock's rebound towards intrinsic value despite positive developments under new CEO Elliot Hill [3] - NIKE was held by 82 hedge fund portfolios at the end of Q4, down from 89 in the previous quarter, indicating a decrease in popularity among hedge funds [4]