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 |
Adobe
ADBE
|
+$105M |
| 2 |
EMC CORPORATION
EMC
|
+$103M |
| 3 |
iShares MSCI Emerging Markets ETF
EEM
|
+$97.6M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$77.4M |
| 5 |
Humana
HUM
|
+$71.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bristol-Myers Squibb
BMY
|
+$125M |
| 2 |
Perrigo
PRGO
|
+$103M |
| 3 |
AGN
Allergan plc
AGN
|
+$100M |
| 4 |
Pfizer
PFE
|
+$90M |
| 5 |
Viatris
VTRS
|
+$88.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 17.39% |
| 2 | Consumer Discretionary | 15.72% |
| 3 | Communication Services | 13.3% |
| 4 | Technology | 11.68% |
| 5 | Financials | 9.69% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Zoetis
ZTS
$33.7B
| $398M | 3.84% |
8,986,076
-404,538
| -4% | -$17.2M |
2013 Q2
11 quarters
|
|
|
2
Alphabet (Google) Class A
GOOGL
$3.69T
| $241M | 2.32% |
6,318,000
+2,101,780
| +50% | +$77.4M |
2015 Q3
2 quarters
|
|
3
T-Mobile US
TMUS
$181B
| $214M | 2.06% |
5,585,934
+81,674
| +1% | +$3.08M |
2013 Q2
11 quarters
|
|
4
Comcast
CMCSA
$88.1B
| $161M | 1.55% |
5,261,792
-509,494
| -9% | -$14.6M |
2013 Q2
11 quarters
|
|
5
Sherwin-Williams
SHW
$85.1B
| $158M | 1.52% |
1,660,572
+757,872
| +84% | +$66.3M |
2013 Q2
11 quarters
|
|
6
Booking.com
BKNG
$120B
| $141M | 1.36% |
2,736,825
+1,414,175
| +107% | +$67.7M |
2014 Q1
8 quarters
|
|
7
Estee Lauder
EL
$39.9B
| $125M | 1.2% |
1,324,526
+399,726
| +43% | +$35.6M |
2014 Q1
8 quarters
|
|
|
8
DELISTED
EMC CORPORATION
EMC
| $121M | 1.16% |
4,522,876
+4,071,573
| +902% | +$103M |
2014 Q2
7 quarters
|
|
9
Microsoft
MSFT
$3.88T
| $119M | 1.15% |
2,161,481
+94,234
| +5% | +$4.94M |
2015 Q2
3 quarters
|
|
|
10
Adobe
ADBE
$93.1B
| $117M | 1.12% |
1,242,313
+1,215,739
| +4,575% | +$105M |
2014 Q4
5 quarters
|
|
11
LyondellBasell Industries
LYB
$20.6B
| $114M | 1.1% |
1,329,498
-166,156
| -11% | -$13.3M |
2013 Q2
11 quarters
|
|
12
Visa
V
$786B
| $110M | 1.06% |
1,441,542
+918,245
| +175% | +$66.7M |
2014 Q1
8 quarters
|
|
|
13
iShares MSCI Emerging Markets ETF
EEM
$28.3B
| $108M | 1.04% |
+3,149,620
| New | +$97.6M |
2016 Q1
0 quarters
|
|
|
14
Humana
HUM
$53B
| $107M | 1.03% |
585,608
+414,600
| +242% | +$71.9M |
2015 Q1
4 quarters
|
|
15
Cigna
CI
$78B
| $96.1M | 0.93% |
700,502
+490,204
| +233% | +$67.3M |
2014 Q2
7 quarters
|
|
16
Medtronic
MDT
$130B
| $95.2M | 0.92% |
1,269,291
+667,890
| +111% | +$50.3M |
2014 Q3
6 quarters
|
|
17
Universal Health Services
UHS
$11.2B
| $94.5M | 0.91% |
757,658
+480,562
| +173% | +$54M |
2015 Q2
3 quarters
|
|
18
Citigroup
C
$205B
| $90.2M | 0.87% |
2,160,364
+306,247
| +17% | +$12.8M |
2013 Q2
11 quarters
|
|
19
Starbucks
SBUX
$123B
| $89.5M | 0.86% |
1,499,878
+952,978
| +174% | +$55.5M |
2015 Q3
2 quarters
|
|
20
O'Reilly Automotive
ORLY
$73.5B
| $83.5M | 0.8% |
4,574,550
+1,569,930
| +52% | +$26.8M |
2013 Q2
11 quarters
|
|
21
Amazon
AMZN
$2.9T
| $82.3M | 0.79% |
2,771,580
+539,840
| +24% | +$15.3M |
2013 Q2
11 quarters
|
|
22
Allegion
ALLE
$16.2B
| $80.8M | 0.78% |
1,268,538
+262,455
| +26% | +$16M |
2014 Q1
8 quarters
|
|
|
BHI
23
DELISTED
Baker Hughes
BHI
| $79M | 0.76% |
1,803,323
+1,255,103
| +229% | +$54.2M |
2015 Q1
4 quarters
|
|
|
RAD
24
DELISTED
Rite Aid Corporation
RAD
| $72.1M | 0.69% |
442,079
+435,874
| +7,025% | +$68.7M |
2015 Q4
1 quarter
|
|
25
CVS Health
CVS
$115B
| $67M | 0.65% |
646,231
+111,037
| +21% | +$10.8M |
2014 Q2
7 quarters
|
|
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Marshall Wace's Q1 2016 Portfolio in Review
As of Q1 2016, Marshall Wace held 1,364 positions worth $10.4B, down 2.6% from $10.7B the previous quarter. Its ten largest holdings account for 17% of the portfolio.
Marshall Wace's Q1 2016 filing shows 413 new, 268 increased, 302 reduced and 358 closed positions. Its largest new stake was iShares MSCI Emerging Markets ETF: 3,149,620 shares worth $108M. The largest sale was Bristol-Myers Squibb, an estimated $125M.
By sector, the portfolio is most concentrated in Healthcare at 17% of assets, down from 25% a quarter earlier, followed by Consumer Discretionary and Communication Services.
- Marshall Wace's largest Q1 2016 buy was iShares MSCI Emerging Markets ETF: 3,149,620 shares worth $108M.
- Marshall Wace added most to Adobe in Q1 2016, an estimated $105M increase.
- Marshall Wace's biggest Q1 2016 reduction was Bristol-Myers Squibb, cutting an estimated $125M.
- Marshall Wace fully exited Perrigo in Q1 2016, selling an estimated $103M.
- Marshall Wace's ten largest holdings make up 17% of its $10.4B portfolio in Q1 2016.
- Marshall Wace opened 413 new positions and closed 358 in Q1 2016.
- Marshall Wace's portfolio value fell 2.6% quarter-over-quarter to $10.4B.
Based on Marshall Wace's 13F filing for Q1 2016, filed 13 May 2016.