Madison Fund Exits Fiserv After 74.9% Annual Slide and Revenue Drop
Madison Large Cap Fund sold its Fiserv shares after the stock, closing at $58.40 on February 23, fell 11.9% in one month and 74.9% over twelve months, becoming a top-five detractor due to declining Financial Solutions revenue and underinvestment concerns. Fiserv’s $31.7 billion market cap is held by 82 hedge funds, down from 83.
1. Fund Performance and Decision
In the fourth quarter of 2025, Madison Large Cap Fund gained 3.43% compared to the S&P 500’s 2.65% return but identified Fiserv as one of its bottom-five detractors and decided to exit the position. The fund cited disappointing results and the need for additional investment to improve Fiserv’s product suite as reasons for the sale.
2. Fiserv Stock Decline
Fiserv shares closed at $58.40 on February 23, 2026, marking an 11.9% decline over the past month and a 74.9% drop over the last twelve months. The significant share price erosion reflects market concerns over the company’s growth profile and execution challenges.
3. Financial Solutions Revenue Drop
Fiserv reported a revenue decline in its Financial Solutions segment during the quarter, which management attributed to underinvestment in its technology offerings. The revenue shortfall led investors to question the company’s ability to maintain durable growth without further capital expenditure.
4. Hedge Fund Holdings
At the end of the fourth quarter, 82 hedge funds held positions in Fiserv, down from 83 in the prior quarter. The slight pullback in institutional ownership highlights growing skepticism among funds about Fiserv’s near-term outlook.