Hedge fund, long-only 13F filer
Marshall Wace
Marshall Wace is a London long/short equity firm founded by Paul Marshall and Ian Wace in 1997, known for its systematic TOPS process that turns broker ideas into portfolios. It discloses US-listed long equity (and some options) positions each quarter on SEC Form 13F — bonds, cash, private businesses and non-US holdings are not in that filing.
How has Marshall Wace's portfolio moved against the S&P 500?
Rebuilt from its quarterly filings, Marshall's disclosed portfolio is up 54% since September 2024. Over the stretch where we can compare, since December 2025, it is up 14% against 9% for the S&P 500. The latest filing, for the quarter ended 30 June 2026, lists 3,103 positions worth 118.5B USD.
Marshall's disclosed holdings, rebuilt at each filing
S&P 500, from Dec 2025, drawn from Marshall's level then
Long US stock only, held from one filing to the next: an illustrative read, not an audited return.
What does Marshall Wace hold?
ISHARES-S&P 500 (IVV) is the largest disclosed position, at 23.5% or 29.8B USD. The 15 largest positions, listed below, make up 41% of the 118.5B USD portfolio.
SEC EDGAR Form 13F-HR, quarter ended 30 June 2026
| Position | Value | Weight | Shares | Last quarter |
|---|---|---|---|---|
| IVVISHARES-S&P 500 | 29.8B USD | 23.5% | 39.8M | Added |
| SPYMSPDR PORTFOLIO L | 4.1B USD | 3.3% | 46.9M | Held |
| AAPLAPPLE INC | 2.6B USD | 2.1% | 9.1M | Held |
| AMZNAMAZON.COM INC | 2.3B USD | 1.8% | 9.5M | Held |
| AMDADV MICRO DEVICE | 2.3B USD | 1.8% | 3.9M | Held |
| NVDANVIDIA CORP | 1.7B USD | 1.4% | 8.6M | Trimmed |
| MUMICRON TECH | 1.6B USD | 1.2% | 1.3M | Added |
| MSFTMICROSOFT CORP | 1.2B USD | 1.0% | 3.3M | Held |
| COSTCOSTCO WHOLESALE | 1.1B USD | 0.9% | 1.2M | Added |
| MSMORGAN STANLEY | 971.8M USD | 0.8% | 4.6M | Held |
| TSLATESLA INC | 920.4M USD | 0.7% | 2.2M | Held |
| TSMTAIWAN SEMIC-ADR | 864.6M USD | 0.7% | 1.8M | Held |
| GOOGLALPHABET INC-A | 790.1M USD | 0.6% | 2.2M | Trimmed |
| HLTHILTON WORLDWIDE | 766.4M USD | 0.6% | 2.3M | Held |
| UNHUNITEDHEALTH GRP | 761.9M USD | 0.6% | 1.8M | Added |
What did Marshall Wace change last quarter?
In the quarter ended 30 June 2026 Marshall Wace opened 784 positions, the largest ISHARES PHLX SOX (SOXX) at 298.5M USD, then LPL FINANCIAL HO and HUMANA INC. It added to 897, trimmed 909 and sold out of 811, against the filing before.
Against the previous quarter's 13F, largest first within each kind; the 20 largest of each kind are listed
| Position | Change | Shares moved | Value after |
|---|---|---|---|
| SOXXISHARES PHLX SOX, put option | New buy | +465.8K | 298.5M USD |
| LPLALPL FINANCIAL HO | New buy | +975.6K | 274.8M USD |
| HUMHUMANA INC | New buy | +546.0K | 216.9M USD |
| RSGREPUBLIC SVCS | New buy | +919.6K | 196.0M USD |
| SOXXISHARES PHLX SOX, call option | New buy | +293.5K | 188.1M USD |
| WINGWINGSTOP INC | New buy | +961.3K | 166.7M USD |
| RSPINVESCO S&P 500 | New buy | +703.7K | 149.7M USD |
| IVVISHARES-S&P 500, call option | New buy | +180.0K | 134.8M USD |
| BLKBLACKROCK INC | New buy | +128.1K | 123.1M USD |
| RJFRAYMOND JAMES | New buy | +665.5K | 101.2M USD |
| CDNSCADENCE DESIGN, put option | New buy | +260.0K | 97.6M USD |
| CORCENCORA INC | New buy | +342.2K | 96.8M USD |
| VSATVIASAT INC, put option | New buy | +1.0M | 90.3M USD |
| INNIO NVNo US ticker on file | New buy | +2.1M | 83.2M USD |
| TRGPTARGA RESOURCES | New buy | +297.7K | 79.8M USD |
| REGNREGENERON PHARM, put option | New buy | +127.0K | 79.2M USD |
| SMCI 7No US ticker on file | New buy | +1.5M | 76.7M USD |
| IRENIREN LTD, put option | New buy | +1.4M | 63.7M USD |
| CPNGCOUPANG INC | New buy | +3.6M | 62.4M USD |
| DKNGDRAFTKINGS INC, put option | New buy | +2.5M | 62.3M USD |
| IVVISHARES-S&P 500 | Added | +13.5M | 29.8B USD |
| MUMICRON TECH | Added | +447.3K | 1.6B USD |
| COSTCOSTCO WHOLESALE | Added | +910.7K | 1.1B USD |
| UNHUNITEDHEALTH GRP | Added | +422.7K | 761.9M USD |
| JNJJOHNSON&JOHNSON | Added | +611.7K | 759.3M USD |
| ABBVABBVIE INC | Added | +3.0M | 752.5M USD |
| BACBANK OF AMERICA | Added | +10.7M | 711.3M USD |
| KOCOCA-COLA CO/THE | Added | +2.6M | 669.7M USD |
| JPMJP MORGAN CHASE | Added | +2.0M | 647.5M USD |
| SMHMARKET VECTORS S, put option | Added | +491.4K | 507.5M USD |
| ABTABBOTT LABS | Added | +3.5M | 502.9M USD |
| CMECME GROUP INC | Added | +1.4M | 494.9M USD |
| BEBLOOM ENERGY C-A | Added | +587.3K | 490.1M USD |
| AXPAMERICAN EXPRESS | Added | +1.3M | 483.4M USD |
| IBMIBM | Added | +1.4M | 478.9M USD |
| TXNTEXAS INSTRUMENT | Added | +1.5M | 477.8M USD |
| FERGFERGUSON ENTERPR | Added | +1.2M | 475.0M USD |
| QCOMQUALCOMM INC | Added | +2.5M | 458.7M USD |
| NOKNOKIA CORP-ADR | Added | +23.0M | 438.5M USD |
| XOMEXXON MOBIL CORP | Added | +2.9M | 429.6M USD |
| NVDANVIDIA CORP | Trimmed | −5.0M | 1.7B USD |
| GOOGLALPHABET INC-A | Trimmed | −955.2K | 790.1M USD |
| SNDKSANDISK CORP | Trimmed | −355.4K | 475.7M USD |
| AVGOBROADCOM INC | Trimmed | −1.3M | 446.5M USD |
| CVXCHEVRON CORP | Trimmed | −1.6M | 420.3M USD |
| AMATAPPLIED MATERIAL | Trimmed | −539.1K | 418.7M USD |
| LLYELI LILLY & CO | Trimmed | −241.5K | 401.4M USD |
| INTCINTEL CORP | Trimmed | −4.8M | 348.2M USD |
| ASMLASML HOLDING-NY | Trimmed | −90.3K | 259.2M USD |
| WDCWESTERN DIGITAL | Trimmed | −531.0K | 255.7M USD |
| RDDTREDDIT INC-A | Trimmed | −1.0M | 253.0M USD |
| GOOGALPHABET INC-C | Trimmed | −1.3M | 229.8M USD |
| MARMARRIOTT INTL-A | Trimmed | −488.1K | 202.4M USD |
| COFCAPITAL ONE FINA | Trimmed | −583.4K | 194.4M USD |
| SHOPSHOPIFY INC - A | Trimmed | −908.4K | 186.5M USD |
| CRCLCIRCLE INTERNET | Trimmed | −2.9M | 181.7M USD |
| MRVLMARVELL TECHNOLO | Trimmed | −2.5M | 180.3M USD |
| ABNBAIRBNB INC-A | Trimmed | −1.8M | 178.0M USD |
| DGDOLLAR GENERAL C | Trimmed | −943.8K | 147.9M USD |
| DTEDTE ENERGY CO | Trimmed | −417.4K | 144.6M USD |
| MRKMERCK & CO | Sold out | −2.8M | was 334.2M USD |
| SRESEMPRA | Sold out | −1.4M | was 132.0M USD |
| PODDINSULET CORP | Sold out | −606.5K | was 127.3M USD |
| RKLBROCKET LAB CORP | Sold out | −1.9M | was 120.8M USD |
| KMBKIMBERLY-CLARK | Sold out | −1.2M | was 114.1M USD |
| XLCCOMM SERV SELECT, put option | Sold out | −999.0K | was 110.7M USD |
| XLBSPDR-MATERIALS | Sold out | −2.1M | was 107.3M USD |
| GLDSPDR GOLD TRUST, call option | Sold out | −207.9K | was 89.5M USD |
| JBLJABIL INC | Sold out | −318.8K | was 84.7M USD |
| CHWYCHEWY INC- CL A | Sold out | −3.1M | was 83.9M USD |
| WMBWILLIAMS COS INC | Sold out | −1.0M | was 75.1M USD |
| TIGOMILLICOM INTL | Sold out | −924.1K | was 69.3M USD |
| CECELANESE CORP | Sold out | −1.0M | was 68.6M USD |
| HEIHEICO CORP | Sold out | −239.1K | was 65.5M USD |
| GEGENERAL ELECTRIC | Sold out | −230.4K | was 65.4M USD |
| MCKMCKESSON CORP | Sold out | −74.5K | was 64.5M USD |
| USBUS BANCORP | Sold out | −1.2M | was 62.5M USD |
| MTBM&T BANK CORP | Sold out | −301.6K | was 62.4M USD |
| QQQINVESCO QQQ TRUS | Sold out | −107.5K | was 62.1M USD |
| VSTVISTRA CORP, put option | Sold out | −371.0K | was 55.8M USD |
Rows sharing a company name are separate securities of the same issuer — different share classes or option positions, as filed.
Where is Marshall Wace's money by sector?
Technology (21%) and consumer cyclical (9%) hold 30% of disclosed value, across 3,103 positions; healthcare (7%) and financial services (7%) come next.
By reported value at quarter end; sectors from our reference list, "Other" where none matched
What do people ask about Marshall Wace?
What is Marshall Wace's biggest holding?23.5%
As of the quarter ended 30 June 2026, the largest disclosed position was IVV (ISHARES-S&P 500), about 23.5% of the disclosed US-listed portfolio by reported value.
What did Marshall Wace buy in Q2 2026?784
784 new positions were disclosed for the quarter ended 30 June 2026; the largest were a Put on SOXX, LPLA, HUM. Adds and trims are listed in the quarterly-changes table on this page.
How concentrated is the portfolio?32%
Broadly diversified. The top five positions are 32% of disclosed value and the top ten are 38%.
When is Marshall Wace's next 13F due?
13F filings for the quarter ended 30 September 2026 are due by 16 November 2026 — managers have 45 days after each calendar quarter ends. Whether Marshall Wace files is up to the manager; we show whatever EDGAR receives.
Does this show the whole portfolio?
No. Form 13F covers US-listed long equity and some options only — no short bets, bonds, cash, private businesses, non-US holdings or timing inside the quarter. Amended filings replace originals; this page always shows the latest canonical version.

Read the form itself on SEC EDGAR or see our plain-words guide to 13F filings — Marshall Wace may have already changed these positions since 30 June 2026.
References
- SEC EDGAR Form 13F-HR, quarterly, up to 45 days delayed. Filings are public records. Ticker mapping via SEC public files and OpenFIGI.
- Finazon prior-day close, indicative (IEX-derived, not the official close), some closes dollar-rounded at the source