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 |
RAI
Reynolds American Inc
RAI
|
+$84.2M |
| 2 |
Charter Communications
CHTR
|
+$83.5M |
| 3 |
State Street Health Care Select Sector SPDR ETF
XLV
|
+$56.6M |
| 4 |
Bank of America
BAC
|
+$43.5M |
| 5 |
Lowe's Companies
LOW
|
+$38.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Zoetis
ZTS
|
+$170M |
| 2 |
T-Mobile US
TMUS
|
+$71.2M |
| 3 |
Advance Auto Parts
AAP
|
+$34.1M |
| 4 |
Alphabet (Google) Class A
GOOGL
|
+$27.2M |
| 5 |
Valspar
VAL
|
+$22M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Staples | 15.94% |
| 2 | Communication Services | 14.71% |
| 3 | Healthcare | 14.4% |
| 4 | Consumer Discretionary | 11.98% |
| 5 | Financials | 10.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
RAI
1
DELISTED
Reynolds American Inc
RAI
| $192M | 8.44% |
2,946,483
+1,289,726
| +78% | +$84.2M |
2015 Q3
7 quarters
|
|
|
SHPG
2
DELISTED
Shire pic
SHPG
| $88.9M | 3.92% |
538,704
+32,813
| +6% | +$5.73M |
2015 Q4
6 quarters
|
|
|
3
Charter Communications
CHTR
$12.8B
| $85.7M | 3.77% |
254,167
+250,146
| +6,221% | +$83.5M |
2015 Q1
9 quarters
|
|
|
4
Alphabet (Google) Class A
GOOGL
$3.44T
| $78.9M | 3.48% |
1,696,880
-581,280
| -26% | -$27.2M |
2015 Q3
7 quarters
|
|
5
Amazon
AMZN
$2.59T
| $73.9M | 3.25% |
1,525,980
+452,540
| +42% | +$21.6M |
2013 Q2
16 quarters
|
|
|
6
Zoetis
ZTS
$32.9B
| $66.4M | 2.92% |
1,070,865
-2,886,915
| -73% | -$170M |
2013 Q2
16 quarters
|
|
|
7
State Street Health Care Select Sector SPDR ETF
XLV
$48.6B
| $58.7M | 2.58% |
+742,458
| New | +$56.6M |
2017 Q2
0 quarters
|
|
|
8
Lowe's Companies
LOW
$117B
| $53.5M | 2.36% |
685,921
+470,295
| +218% | +$38.4M |
2014 Q1
13 quarters
|
|
9
Citigroup
C
$203B
| $53.1M | 2.34% |
792,420
+515,600
| +186% | +$31.6M |
2013 Q2
16 quarters
|
|
|
10
T-Mobile US
TMUS
$166B
| $47.8M | 2.11% |
783,760
-1,092,963
| -58% | -$71.2M |
2013 Q2
16 quarters
|
|
11
Newell Brands
NWL
$2.21B
| $47.4M | 2.09% |
877,786
+622,700
| +244% | +$31.6M |
2015 Q4
6 quarters
|
|
|
12
Bank of America
BAC
$346B
| $47.1M | 2.08% |
1,963,878
+1,867,370
| +1,935% | +$43.5M |
2016 Q1
5 quarters
|
|
|
MON
13
DELISTED
Monsanto Co
MON
| $45.7M | 2.01% |
386,908
+109,816
| +40% | +$12.8M |
2013 Q2
16 quarters
|
|
|
TWX
14
DELISTED
Time Warner Inc
TWX
| $43.1M | 1.9% |
430,607
+131,150
| +44% | +$13M |
2013 Q2
16 quarters
|
|
15
Alibaba
BABA
$244B
| $38.8M | 1.71% |
275,175
+259,127
| +1,615% | +$32M |
2015 Q2
8 quarters
|
|
16
NXP Semiconductors
NXPI
$65.4B
| $35.5M | 1.56% |
325,695
+12,753
| +4% | +$1.37M |
2016 Q3
3 quarters
|
|
17
Dell
DELL
$270B
| $35.4M | 1.56% |
2,070,772
+645,591
| +45% | +$11.8M |
2016 Q3
3 quarters
|
|
18
US Foods
USFD
$22.4B
| $29.4M | 1.29% |
+1,087,882
| New | +$31M |
2017 Q2
0 quarters
|
|
19
DELISTED
Mobileye N.V.
MBLY
| $28.5M | 1.26% |
452,269
+391,510
| +644% | +$24.3M |
2016 Q4
2 quarters
|
|
20
Alaska Air
ALK
$3.99B
| $26.4M | 1.16% |
293,843
+108,846
| +59% | +$9.5M |
2016 Q2
4 quarters
|
|
|
ALR
21
DELISTED
Alere Inc
ALR
| $25.8M | 1.14% |
516,953
-128,567
| -20% | -$6.19M |
2015 Q4
6 quarters
|
|
|
LVLT
22
DELISTED
Level 3 Communications Inc
LVLT
| $25.6M | 1.13% |
433,748
+55,578
| +15% | +$3.35M |
2015 Q4
6 quarters
|
|
23
State Street SPDR S&P 500 ETF Trust
SPY
$802B
| $24.7M | 1.09% |
101,980
+2,545
| +3% | +$610K |
2016 Q4
2 quarters
|
|
|
CAB
24
DELISTED
Cabela's Inc
CAB
| $24.6M | 1.09% |
417,541
+60,816
| +17% | +$3.36M |
2016 Q4
2 quarters
|
|
25
LivaNova
LIVN
$4.35B
| $23.3M | 1.03% |
381,544
-1,741
| -0.5% | -$98.5K |
2016 Q1
5 quarters
|
|
Similar funds
Marshall Wace's Q2 2017 Portfolio in Review
As of Q2 2017, Marshall Wace held 449 positions worth $2.27B, up 9.6% from $2.07B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
Marshall Wace deployed $119M of net new capital in Q2 2017, opening 157 new positions and adding to 70 existing holdings. Its largest new stake was State Street Health Care Select Sector SPDR ETF: 742,458 shares worth $58.7M.
By sector, the portfolio is most concentrated in Consumer Staples at 16% of assets, up from 11% a quarter earlier, followed by Communication Services and Healthcare.
On the sell side, the largest reduction was Zoetis, an estimated $170M trimmed.
- Marshall Wace's largest Q2 2017 buy was State Street Health Care Select Sector SPDR ETF: 742,458 shares worth $58.7M.
- Marshall Wace added most to Reynolds American Inc in Q2 2017, an estimated $84.2M increase.
- Marshall Wace's biggest Q2 2017 reduction was Zoetis, cutting an estimated $170M.
- Marshall Wace fully exited Advance Auto Parts in Q2 2017, selling an estimated $34.1M.
- Marshall Wace's ten largest holdings make up 35% of its $2.27B portfolio in Q2 2017.
- Marshall Wace opened 157 new positions and closed 148 in Q2 2017.
- Marshall Wace's portfolio value rose 9.6% quarter-over-quarter to $2.27B.
Based on Marshall Wace's 13F filing for Q2 2017, filed 4 Aug 2017.