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Soumya Eswaran
Fri, July 17, 2026 astatine 9:42 AM CDT 3 min read
Madison Small Cap Fund, managed by Madison Funds, released its Q2 2026 capitalist letter. A transcript of the missive tin beryllium downloaded here. The small-cap marketplace showed exceptional spot successful Q2, mostly owed to anticipated bid successful the Middle East. The Russell 2000 Index began to rally, propelled by Information Technology, Health Care, and Industrials. The Madison Small Cap Fund (Class I) returned 12.7% successful the quarter, underperforming the Russell 2000's 21.5% and Russell 2500's 20.2%. While beardown gains were seen successful Info Tech investments, caller investments successful underperforming bundle companies negatively impacted wide performance. Nevertheless, assurance successful the semipermanent imaginable of these bundle investments remains high. The steadfast is optimistic astir tiny caps, noting their caller outperformance implicit ample caps, betterment successful definite bundle sectors, and improvements successful immoderate lodging stocks toward the extremity of the 2nd quarter. Please reappraisal the Fund's apical 5 holdings to summation insights into their cardinal selections for 2026.
In its Q2 2026 capitalist letter, Madison Small Cap Fund highlighted Shake Shack Inc. (NYSE:SHAK). Shake Shack Inc. (NYSE:SHAK) is simply a US based Shake Shack restaurants chains relation that offers burger, chicken, blistery dogs, crinkle chopped fries, shakes, frozen custard, beer, wine, and different products. On July 16, 2026, Shake Shack Inc. (NYSE:SHAK) closed astatine $59.23 per share, reflecting a marketplace capitalization of $2.53 billion. Shake Shack Inc. (NYSE:SHAK) posted a one-month instrumentality of 0.25%, portion its shares mislaid 56.08% implicit the past 52 weeks.
Madison Small Cap Fund stated the pursuing regarding Shake Shack Inc. (NYSE:SHAK) successful its Q2 2026 capitalist update:
"Our worst performing assemblage by acold was user discretionary, driven mostly by utmost weakness successful Shake Shack Inc. (NYSE:SHAK). Although SHAK delivered coagulated aforesaid store sales, outperforming galore different restaurants, the market's expectations were adjacent higher. Furthermore, absorption decided to accelerate caller edifice openings successful the archetypal quarter, which led to an summation successful operating expenses that negatively impacted adjacent word net and currency flow. Although absorption miscommunication connected this determination was a contributing origin to the disappointment, we judge the shares are overly punished and correspond precise charismatic worth for a institution that's outperform peers connected the gross enactment with a monolithic accidental for portion growth."
Shake Shack Inc. (NYSE:SHAK) is not connected our database of 40 Most Popular Stocks Among Hedge Funds Heading Into 2026. According to our database, 36 hedge money portfolios held Shake Shack Inc. (NYSE:SHAK) astatine the extremity of the archetypal quarter, compared to 41 successful the erstwhile quarter. While we admit the imaginable of Shake Shack Inc. (NYSE:SHAK) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.
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