Do You Believe in the Long-Term Earnings Potential of Formula One Group (FWONK)?

Do You Believe in the Long-Term Earnings Potential of Formula One Group (FWONK)? Soumya Eswaran Tue, June 30, 2026 at 8:42 PM GMT+7 3 min read FWONA FWONK Madison Investments, an investment advisor, released its first-quarter 2026 investor letter for the "Madison Mid Cap Fund". The Madison Mid Cap Fund (Class I) declined 4.28% in the quarter, compared to the Russell Midcap Index's 1.29% return. A copy of the letter can be downloaded here. The first quarter saw a market shift from tech stocks to companies in the physical economy driven by a better economic outlook and AI disruption fears. This transition favored the 'HALO trade' (Heavy Assets, Low Obsolescence), benefiting resilient businesses. In March, geopolitical conflicts and rising commodity prices heightened inflation concerns, leading to strong performance in Energy and Materials sectors, while Utilities also gained. This trend posed challenges for the Madison Mid Cap Fund due to its limited exposure to these sectors. In this environment, the fund identifies opportunities in high-quality, underappreciated businesses and is actively investing in them. Please review the Fund's top five holdings to gain insights into its key selections for 2026.

In its first-quarter 2026 investor letter, Madison Mid Cap Fund highlighted Formula One Group (NASDAQ:FWONK). Formula One Group (NASDAQ:FWONK) is a motorsports company holding commercial rights for the Fédération Internationale de l'Automobile (FIA) Formula One World Championship. On June 29, 2026, Formula One Group (NASDAQ:FWONK) closed at $93.48 per share. One-month return of Formula One Group (NASDAQ:FWONK) was 4.66%, and its shares lost 8.19% over the past 52 weeks. Formula One Group (NASDAQ:FWONK) has a market capitalization of $23.43 billion.

Madison Mid Cap Fund stated the following regarding Formula One Group (NASDAQ:FWONK) in its Q1 2026 investor letter: