Madison Investments, an investment advisor, recently released its third-quarter 2025 investor letter for the Madison Large Cap Fund. The fund experienced a decrease of 2.2% in the third quarter, contrasting with the 8.1% gain of the S&P 500 Index. The fund’s underperformance against the benchmark was attributed to the current market’s focus on short-term profits.
In the investor letter, Madison Large Cap Fund highlighted The TJX Companies, Inc. (NYSE:TJX) as one of its top stock picks. The TJX Companies, Inc. is known as an off-price apparel and home fashion retailer. The stock of The TJX Companies, Inc. saw a one-month return of 1.82% and a 22.42% increase in value over the past 52 weeks. As of November 10, 2025, the stock closed at $146.72 per share, with a market capitalization of $163.29 billion.
According to the investor letter, The TJX Companies, Inc. was among the top five contributors for the quarter, alongside Alphabet, Lowe’s, Brookfield Corporation, and Parker-Hannifin. The company’s value-based retail stores resonated well with consumers amidst economic uncertainty, leading to strong revenue and profit growth in the quarter.
While The TJX Companies, Inc. is not among the 30 most popular stocks among hedge funds, it was held in 73 hedge fund portfolios at the end of the second quarter. Despite its potential as an investment, Madison Investments believes that certain AI stocks offer greater upside potential with less downside risk.
In a separate article, The TJX Companies, Inc. was discussed alongside a list of stocks mentioned by Jim Cramer. Investors can also explore more investor letters from hedge funds and leading investors in the third quarter of 2025.
For more insights, readers can check out articles on the best and worst Dow stocks for the next 12 months and 10 unstoppable stocks that could double their money. The disclosed information in this article is originally published on Insider Monkey.
Overall, Madison Investments’ third-quarter 2025 investor letter emphasizes The TJX Companies, Inc. as a strong performer in the retail sector, showcasing robust revenue and profit growth amidst economic uncertainties. Investors are encouraged to explore potential investment opportunities based on the fund’s top stock picks and industry insights.
