Marshall Wace Portfolio holdings
Marshall Wace is a British firm that runs long/short hedge funds. Its strategies combine computer-driven and traditional company analysis, applied worldwide and mostly to long/short equity. Paul Marshall, formerly head of European equities at Mercury Asset Management, and Ian Wace, formerly head of equities trading at Deutsche Bank, founded it in 1997. In 2002 it launched TOPS, a system that gathers investment ideas from equity professionals and uses algorithms to turn them into stock portfolios. In 2015 Marshall Wace formed a long-term partnership with KKR, a private equity and credit investor that took an ownership interest in the firm.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Apple
AAPL
|
+$72.3M |
| 2 |
Medtronic
MDT
|
+$72.1M |
| 3 |
Alphabet (Google) Class C
GOOG
|
+$70.2M |
| 4 |
ENDP
Endo International plc
ENDP
|
+$60M |
| 5 |
Du Pont De Nemours E I
DD
|
+$58.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WisdomTree India Earnings Fund ETF
EPI
|
+$121M |
| 2 |
American Airlines Group
AAL
|
+$75.2M |
| 3 |
AGN
Allergan plc
AGN
|
+$68.5M |
| 4 |
Citizens Financial Group
CFG
|
+$67.7M |
| 5 |
AutoZone
AZO
|
+$65.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 25% |
| 2 | Financials | 15.32% |
| 3 | Communication Services | 14.43% |
| 4 | Technology | 10.63% |
| 5 | Materials | 8.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Zoetis
ZTS
$33.9B
| $256M | 3.33% |
5,301,791
+951,911
| +22% | +$45.4M |
2013 Q2
8 quarters
|
|
2
Comcast
CMCSA
$89.5B
| $160M | 2.09% |
5,318,706
+1,745,916
| +49% | +$51.3M |
2013 Q2
8 quarters
|
|
3
T-Mobile US
TMUS
$184B
| $153M | 2% |
3,949,523
-1,528,393
| -28% | -$54.8M |
2013 Q2
8 quarters
|
|
|
4
Alphabet (Google) Class C
GOOG
$3.6T
| $122M | 1.59% |
4,516,480
+2,621,612
| +138% | +$70.2M |
2013 Q2
8 quarters
|
|
|
AGN
5
DELISTED
Allergan plc
AGN
| $121M | 1.58% |
398,743
-229,554
| -37% | -$68.5M |
2014 Q2
4 quarters
|
|
|
6
Apple
AAPL
$5.2T
| $96.9M | 1.26% |
3,091,748
+2,260,340
| +272% | +$72.3M |
2014 Q1
5 quarters
|
|
|
7
Medtronic
MDT
$130B
| $93.9M | 1.23% |
1,267,856
+943,451
| +291% | +$72.1M |
2014 Q3
3 quarters
|
|
8
CVS Health
CVS
$114B
| $86.8M | 1.13% |
827,981
-4,822
| -0.6% | -$493K |
2014 Q2
4 quarters
|
|
9
LyondellBasell Industries
LYB
$20.4B
| $86.6M | 1.13% |
836,669
+374,135
| +81% | +$37.6M |
2013 Q2
8 quarters
|
|
10
Liberty Global Class C
LBTYK
$3.47B
| $86.1M | 1.12% |
2,102,502
+236,288
| +13% | +$9.8M |
2013 Q2
8 quarters
|
|
11
Nike
NKE
$56.6B
| $78.5M | 1.02% |
1,452,700
+624,842
| +75% | +$32M |
2014 Q1
5 quarters
|
|
|
ENDP
12
DELISTED
Endo International plc
ENDP
| $76.5M | 1% |
959,865
+694,834
| +262% | +$60M |
2014 Q4
2 quarters
|
|
13
Cooper Companies
COO
$11.9B
| $74.6M | 0.97% |
1,676,232
+195,076
| +13% | +$8.79M |
2014 Q1
5 quarters
|
|
14
Meta Platforms (Facebook)
META
$1.59T
| $73.8M | 0.96% |
861,071
-8,505
| -1% | -$695K |
2014 Q1
5 quarters
|
|
15
Sherwin-Williams
SHW
$86B
| $71.1M | 0.93% |
775,329
+571,848
| +281% | +$54.2M |
2013 Q2
8 quarters
|
|
16
Citigroup
C
$206B
| $67.8M | 0.88% |
1,227,004
-567,102
| -32% | -$30.9M |
2013 Q2
8 quarters
|
|
17
Capital One
COF
$118B
| $65.7M | 0.86% |
746,812
-415,579
| -36% | -$34.9M |
2014 Q1
5 quarters
|
|
18
International Flavors & Fragrances
IFF
$20.5B
| $63.2M | 0.82% |
577,977
+300,660
| +108% | +$34.7M |
2013 Q2
8 quarters
|
|
19
Pfizer
PFE
$166B
| $62.3M | 0.81% |
1,958,620
-1,701,806
| -46% | -$55.5M |
2014 Q1
5 quarters
|
|
|
ATVI
20
DELISTED
Activision Blizzard
ATVI
| $57.5M | 0.75% |
2,373,793
+2,103,364
| +778% | +$51.3M |
2014 Q1
5 quarters
|
|
|
21
AutoZone
AZO
$52.7B
| $57.4M | 0.75% |
86,023
-95,621
| -53% | -$65.5M |
2013 Q2
8 quarters
|
|
22
Travelers Companies
TRV
$82.8B
| $54.1M | 0.71% |
560,147
+179,416
| +47% | +$18.4M |
2015 Q1
1 quarter
|
|
23
JPMorgan Chase
JPM
$911B
| $53.9M | 0.7% |
796,047
+163,545
| +26% | +$10.7M |
2015 Q1
1 quarter
|
|
24
Lazard
LAZ
$4.48B
| $53.8M | 0.7% |
957,334
-24,851
| -3% | -$1.38M |
2014 Q1
5 quarters
|
|
25
Viatris
VTRS
$24.2B
| $53.8M | 0.7% |
792,864
-52,645
| -6% | -$3.72M |
2015 Q1
1 quarter
|
|
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Marshall Wace's Q2 2015 Portfolio in Review
As of Q2 2015, Marshall Wace held 1,176 positions worth $7.67B, down 0.12% from $7.68B the previous quarter. Its ten largest holdings account for 16% of the portfolio.
Marshall Wace's Q2 2015 filing shows 399 new, 225 increased, 226 reduced and 299 closed positions. Its largest new stake was Du Pont De Nemours E I: 869,713 shares worth $52.8M. The largest sale was WisdomTree India Earnings Fund ETF, an estimated $121M.
By sector, the portfolio is most concentrated in Healthcare at 25% of assets, up from 23% a quarter earlier, followed by Financials and Communication Services.
- Marshall Wace's largest Q2 2015 buy was Du Pont De Nemours E I: 869,713 shares worth $52.8M.
- Marshall Wace added most to Apple in Q2 2015, an estimated $72.3M increase.
- Marshall Wace's biggest Q2 2015 reduction was WisdomTree India Earnings Fund ETF, cutting an estimated $121M.
- Marshall Wace fully exited American Airlines Group in Q2 2015, selling an estimated $75.2M.
- Marshall Wace's ten largest holdings make up 16% of its $7.67B portfolio in Q2 2015.
- Marshall Wace opened 399 new positions and closed 299 in Q2 2015.
- Marshall Wace's portfolio value fell 0.12% quarter-over-quarter to $7.67B.
Based on Marshall Wace's 13F filing for Q2 2015, filed 14 Aug 2015.