Madison Asset Management Liquidates Its $98 Million Trex Position

3 hours ago 2

Josh Kohn-Lindquist, The Motley Fool

Sat, February 7, 2026 astatine 3:36 PM CST 4 min read

According to an SEC filing dated Feb. 4, 2026, Madison Asset Management, LLC, sold each 1,893,081 shares of Trex (NYSE:TREX) during the 4th fourth of 2025. The estimated transaction worth was $97.82 million, calculated utilizing mean quarterly pricing. The quarter-end worth of the fund’s Trex presumption decreased by $97.82 million, reflecting some the afloat stock merchantability and immoderate terms movements during the period.

Madison Asset Management afloat sold retired of Trex.

Top holdings aft the filing:
- Arch Capital Group: $415.57 cardinal (4.8% of AUM)
- Ross Stores: $271.54 cardinal (3.1% of AUM)
- PACCAR: $249.95 cardinal (2.9% of AUM)
- Alphabet: $246.16 cardinal (2.9% of AUM)
- Amphenol: $181.20 cardinal (2.1% of AUM)

As of Feb. 5, 2026, Trex shares were priced astatine $43.02, down 38.6% implicit the anterior year, underperforming the S&P 500 by 52 percent points.

Metric

Value

Revenue (TTM)	$1.18 billion
Net income (TTM)	$197.88 million
Market capitalization	$4.72 billion
Price (as of marketplace adjacent Feb. 5, 2026)	$43.02

Trex:

Manufactures and distributes composite decking, railing, fencing, and outdoor surviving products, including Trex Transcend, Trex Select, Trex Enhance, and related accessories.
Operates a product-based concern model, generating gross chiefly done wholesale distribution, retail lumber dealers, and nonstop income to commercialized and residential markets.
has main lawsuit segments, including residential homeowners, commercialized developers, and retail partners specified arsenic Home Depot and Lowe's.

Trex is simply a starring supplier of composite decking and outdoor surviving solutions, serving some residential and commercialized markets crossed the United States. The institution leverages a diversified organisation web and beardown retail partnerships to support its marketplace presence. With a absorption connected innovative, low-maintenance products, Trex differentiates itself done marque designation and a wide portfolio tailored to outdoor operation needs.

Less than a twelvemonth aft opening its presumption successful composite decking person Trex, Madison Asset Management closed its presumption successful the cyclical company. Tied to the lodging marketplace (and, to a ample degree, user confidence), Trex has seen its stock terms spell up and to the close implicit the agelong term, but has experienced periods of volatility connected shorter clip frames. While it is intolerable to cognize precisely wherefore Madison decided present was the close present to merchantability Trex, they simply might’ve been hoping for a speedy upswing that didn’t materialize.