Madison Target Retirement 2050 Fund - ULTRA SERIES FUND

Shareclass
Madison Target Retirement 2050 Fund Madison Target Retirement 2050 Fund Class I
Type
Other
Target date
Madison Target Retirement Fund - ULTRA SERIES FUND
Deforestation grade: Fund is invested in deforestation-risk agricultural commodity producer/traders, below the threshold of 0.5%. Assigned a grade of C.
How we track deforestation-risk investments
C
5.56%
INVESTED IN DEFORESTATION-RISK COMPANIES
producers
AGRIBUSINESS
deforestation-risk producers and traders of palm oil, paper/pulp, rubber, timber, cattle, and soy
banks
BANKS AND LENDERS
that finance deforestation-risk agribusiness producers via lending and underwriting
consumers
MAJOR CONSUMER BRANDS
that use deforestation-risk agribusiness commodities in products
236
holdings flagged
5.45%
of assets flagged
This fund contains
 $1.93 MILLION invested 
in holdings flagged for deforestation risk
Take action
producers
Commodity producers
87 holdings
0.23% of assets
$81,687 invested
banks
Banks and lenders
41 holdings
1.38% of assets
$490,715 invested
consumers
Major consumer brands
125 holdings
3.88% of assets
$1.37 MILLION invested
Commodity producers
Commodity producers
87 HOLDINGS
Companies that produce and trade palm oil, paper/pulp, rubber, timber, cattle, and soy, and have a past record or a significant risk of contributing to deforestation, land grabbing, and human rights abuses. Investing in any of these companies assigns a fund a grade of C if total producer exposure is below the threshold of 0.5%; a grade of D if below 1.5%; and a grade of F if above 1.5%.
87 HOLDINGS
  • % of portfolio
    $ invested
  • 1. ITOCHU Corp
    Timber producerRubber producerPaper/pulp producerPalm oil producer
    0.08%0.08% of portfolio
    $27,342$27,342 invested
    Timber producerRubber producerPaper/pulp producerPalm oil producer
  • 2. Mitsubishi Corp
    Palm oil producer
    0.03%0.03% of portfolio
    $10,169$10,169 invested
    Palm oil producer
  • 3. Glencore PLC
    Soy producerPalm oil producer
    0.02%0.02% of portfolio
    $7,577$7,577 invested
    Soy producerPalm oil producer
  • 4. Marubeni Corp
    Timber producerRubber producerPaper/pulp producer
    0.01%0.01% of portfolio
    $3,679$3,679 invested
    Timber producerRubber producerPaper/pulp producer
  • 5. Samsung C&T Corp
    Palm oil producer
    <0.01%<0.01% of portfolio
    $3,306$3,306 invested
    Palm oil producer
View next 5
Banks and lenders
Banks and lenders
41 HOLDINGS
Financial institutions directly and indirectly involved in underwriting and lending to deforestation-risk producers and traders. Investing in any of these companies assigns a fund a grade of B (assuming there are no investments in producers).
41 HOLDINGS
  • % of portfolio
    $ invested
  • 1. HSBC Holdings PLC
    0.17%0.17% of portfolio
    $59,840$59,840 invested
  • 2. Sumitomo Mitsui Financial Group Inc
    0.11%0.11% of portfolio
    $40,235$40,235 invested
  • 3. Barclays PLC
    0.1%0.1% of portfolio
    $37,401$37,401 invested
  • 4. Commonwealth Bank of Australia
    0.09%0.09% of portfolio
    $33,159$33,159 invested
  • 5. NatWest Group PLC
    0.08%0.08% of portfolio
    $29,424$29,424 invested
View next 5
Major consumer brands
Major consumer brands
125 HOLDINGS
Consumer goods retailers that source palm oil, paper/pulp, rubber, timber, cattle, and soy from deforestation-risk producers and traders and sell it to consumers worldwide. Investing in any of these companies assigns a fund a grade of B (assuming there are no investments in producers).
125 HOLDINGS
  • % of portfolio
    $ invested
  • 1. Costco Wholesale Corp
    Soy major consumer brandCattle major consumer brandTimber major consumer brandPaper/pulp major consumer brandPalm oil major consumer brand
    0.76%0.76% of portfolio
    $276,746$276,746 invested
    Soy major consumer brandCattle major consumer brandTimber major consumer brandPaper/pulp major consumer brandPalm oil major consumer brand
  • 2. Procter & Gamble Co/The
    Paper/pulp major consumer brandPalm oil major consumer brand
    0.61%0.61% of portfolio
    $221,551$221,551 invested
    Paper/pulp major consumer brandPalm oil major consumer brand
  • 3. TJX Cos Inc/The
    Cattle major consumer brandTimber major consumer brandPaper/pulp major consumer brand
    0.3%0.3% of portfolio
    $108,169$108,169 invested
    Cattle major consumer brandTimber major consumer brandPaper/pulp major consumer brand
  • 4. 3M Co
    Paper/pulp major consumer brand
    0.21%0.21% of portfolio
    $75,810$75,810 invested
    Paper/pulp major consumer brand
  • 5. Shell PLC
    Soy major consumer brandPalm oil major consumer brand
    0.17%0.17% of portfolio
    $63,167$63,167 invested
    Soy major consumer brandPalm oil major consumer brand
View next 5
View more info
DATA AS OF 31 Mar 2026





Take Action
Call on U.S. investment firms to implement Deforestation and Land Grab-Free investment policies.
Find top-graded funds that avoid deforestation-risk investments.
Use Fossil Free Funds to check this fund's fossil fuel investments and carbon footprint.
More from Invest Your Values
See how mutual funds and ETFs are rated on issues ranging from fossil fuels, to deforestation, gender equality, guns, prisons, weapons, and tobacco

Disclaimer: As You Sow is not an investment adviser

As You Sow is not an investment adviser as that term is defined under federal and state (California) laws and regulations. As You Sow is a tax-exempt, nonprofit organization dedicated to educating and empowering shareholders to change corporations for the good through the collection, analysis and dissemination of relevant information to the public, free of charge. As You Sow does not provide financial planning, legal or tax advice. Nothing on this website shall constitute or be construed as an offering of financial instruments, or as investment advice or investment recommendations.
See our full disclaimer