MW
Marshall Wace North America L.P. Historical SEC 13F Holdings & Archive (Q3 2021)
Marshall Wace North America L.P.CIK: 0001325091
Diversified strategyLong-term holder
Total reported value
$23.5B
Reporting period: 2021-09-30 · Number of holdings: 2204
Marshall Wace North America L.P. disclosed 2204 holdings in its latest 13F filing for the period ending 2021-09-30, with total reported value of $23.5B and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 3.64
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 57.66
- Diversification
- 100
- Sizing Uniformity
- 65.93
Marshall Wace North America L.P.'s disclosed holdings carry a Herfindahl concentration index of 0.009 — mathematically equivalent to about 110 equally-sized positions, well below its 2204 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.41), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 48% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd UBER
+3061.4% $237.4M
Trim DHR
-71.6% -$236.8M
New buy CSCO
Add NFLX
+117.0% $187.4M
Add PFE
+821.6% $183.7M
Trim META
-20.1% -$174.7M
Holdings Map
New buyAddUnchangedTrim
Institutional Game-State Analysis
Core Intent
Marshall Wace is executing a broad-based capital rotation, dumping concentrated consumer tech exposure while aggressively accumulating digital infrastructure and defensive pharma. The firm prioritizes network connectivity and structural growth over discretionary spending, deploying systematic positioning across 1,384 names with UBER, NFLX, CSCO, PFE, and LW leading active accumulation.
Macro & Fundamentals
The portfolio embeds a secular inflation/tech-infrastructure regime bet: heavy overweights in Communication Services (25.5%) and Information Technology (24.8%) fuel growth anchored by connectivity and cloud ecosystems, while trimming META neutralizes pure consumer discretionary risk. The opposing thesis argues that prolonged rate sensitivity will compress valuations across tech-heavy baskets, forcing a reversal into undervalued cyclicals and energy producers.
Blind Spots / Risks
Turnover at zero anchors the current positioning to prior quarter fills, meaning active rebalancing signals reflect price-driven weight drift rather than fresh directional conviction. Meanwhile, 47.7% unmapped exposure across 1,384 holdings dilutes factor clarity, allowing systematic noise to masquerade as signal in secondary positions and muting the portfolio's net equity risk profile.
This narrative is produced by AI from this institution's Form 13F filings, as disclosed on SEC EDGAR, and describes past activity only. It is informational, not investment advice. View the original 2021-09-30 Form 13F filing on SEC.gov
Top 10 holdings by weight
Full holdings list this quarter
Showing top 200 holdings (of 2204 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 4.48% | — | +4.20% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 2.96% | +0.49% | +14.26% | |
| 3 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 2.85% | — | -5.30% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.70% | — | -0.17% | |
| 5 | META | Meta Platforms Inc-class A | Stock-Comm Services | 2.64% | -0.72% | -20.08% | |
| 6 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 2.35% | — | -4.91% | |
| 7 | AAPL | Apple Inc | Stock-Tech | 1.81% | — | -13.57% | |
| 8 | ZTS | Zoetis Inc | Stock-Healthcare | 1.33% | -0.33% | -23.37% | |
| 9 | NFLX | Netflix Inc | Stock-Comm Services | 1.33% | +0.80% | +116.97% | |
| 10 | UBER | Uber Technologies Inc | Stock-Industrials | 1.05% | +1.01% | +3061.41% | |
| 11 | BSX | Boston Scientific CORP | Stock-Healthcare | 1.01% | — | -7.06% | |
| 12 | ADBE | Adobe Inc | Stock-Tech | 0.98% | — | +34.71% | |
| 13 | EXPE | Expedia Group Inc | Stock-Consumer Disc | 0.93% | +0.31% | +49.52% | |
| 14 | STE | STERIS plc | Stock-Healthcare | 0.91% | — | +15.55% | |
| 15 | UNH | Unitedhealth Group Inc | Stock-Healthcare | 0.91% | -0.41% | -29.94% | |
| 16 | IFF | Intl Flavors & Fragrances | Stock-Materials | 0.89% | +0.32% | +73.42% | |
| 17 | ACN | Accenture plc | Stock-Tech | 0.89% | — | +19.12% | |
| 18 | CSCO | Cisco Systems Inc | Stock-Tech | 0.88% | +0.88% | NEW | |
| 19 | PFE | Pfizer Inc | Stock-Healthcare | 0.87% | +0.78% | +821.65% | |
| 20 | PODD | Insulet CORP | Stock-Healthcare | 0.85% | — | +36.60% | |
| 21 | AVGO | Broadcom Inc | Stock-Tech | 0.84% | +0.61% | +255.69% | |
| 22 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.83% | — | -8.25% | |
| 23 | SPGI | S&p Global Inc | Stock-Financials | 0.82% | +0.63% | +311.82% | |
| 24 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.76% | — | +39.81% | |
| 25 | LIN | Linde plc | Stock-Materials | 0.73% | — | -5.57% | |
| 26 | V | Visa Inc-class A Shares | Stock-Financials | 0.71% | — | +28.18% | |
| 27 | GPN | Global Payments Inc | Stock-Industrials | 0.70% | — | +70.48% | |
| 28 | LW | Lamb Weston Holdings Inc | Stock-Consumer Staples | 0.69% | +0.65% | +2461.11% | |
| 29 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 0.68% | +0.64% | +1730.52% | |
| 30 | TMUS | T-mobile US Inc | Stock-Comm Services | 0.64% | — | -7.27% | |
| 31 | T | At&t Inc | Stock-Comm Services | 0.64% | — | -4.76% | |
| 32 | SGENUSD | Seagen Inc | Stock-Other | 0.63% | — | +29.30% | |
| 33 | PYPL | Paypal Holdings Inc | Stock-Financials | 0.63% | — | -2.40% | |
| 34 | MET | Metlife Inc | Stock-Financials | 0.62% | +0.47% | +306.05% | |
| 35 | DAR | Darling Ingredients Inc | Stock-Consumer Staples | 0.58% | — | +18.46% | |
| 36 | MA | Mastercard Inc - A | Stock-Financials | 0.57% | — | +20.03% | |
| 37 | PLANUSD | Anaplan Inc | Stock-Other | 0.56% | — | +20.15% | |
| 38 | S9Q | Spirit Aerosystems Hold-cl A | Stock-Other | 0.52% | — | +17.38% | |
| 39 | OVV | Ovintiv Inc | Stock-Energy | 0.50% | — | -8.68% | |
| 40 | REGN | Regeneron Pharmaceuticals | Stock-Healthcare | 0.49% | +0.35% | +221.46% | |
| 41 | DHR | Danaher CORP | Stock-Healthcare | 0.48% | -1.00% | -71.58% | |
| 42 | 8IN | Syneos Health Inc | Stock-Other | 0.46% | — | +30.71% | |
| 43 | ADI | Analog Devices Inc | Stock-Tech | 0.45% | +0.35% | +343.29% | |
| 44 | TFX | Teleflex Inc | Stock-Healthcare | 0.43% | — | -18.06% | |
| 45 | QCOM | Qualcomm Inc | Stock-Tech | 0.43% | — | +0.41% | |
| 46 | AZNN | Astrazeneca Plc-spons Adr | Stock-Other | 0.43% | — | +10.01% | |
| 47 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.39% | +0.32% | +427.55% | |
| 48 | FTNT | Fortinet Inc | Stock-Tech | 0.39% | +0.39% | NEW | |
| 49 | CLH | Clean Harbors Inc | Stock-Industrials | 0.38% | — | +0.55% | |
| 50 | NVDA | Nvidia CORP | Stock-Tech | 0.38% | +0.38% | +37464.38% |
1–50 of 200
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2021 Q3 | 2204 | $23.5B | 0 | ||
| 2021 Q2 | 2055 | $23.6B | 100 | ||
| 2021 Q1 | 2360 | $24.0B | 0 | ||
| 2020 Q4 | 2131 | $21.9B | 84 | ||
| 2020 Q3 | 1911 | $15.6B | 69 | ||
| 2020 Q2 | 1886 | $15.1B | 81 | ||
| 2020 Q1 | 1900 | $13.2B | 96 | ||
| 2019 Q4 | 1907 | $20.7B | 59 | ||
| 2019 Q3 | 1951 | $17.6B | 62 | ||
| 2019 Q2 | 1713 | $16.1B | 73 | ||
| 2019 Q1 | 2147 | $14.1B | 79 | ||
| 2018 Q4 | 2051 | $10.3B | 78 | ||
| 2018 Q3 | 1255 | $14.6B | 80 | ||
| 2018 Q2 | 1851 | $17.7B | 76 | ||
| 2018 Q1 | 1963 | $20.0B | 89 | ||
| 2017 Q4 | 1890 | $18.1B | 91 | ||
| 2017 Q3 | 1798 | $15.8B | 89 | ||
| 2017 Q2 | 1727 | $13.7B | 87 | ||
| 2017 Q1 | 1323 | $12.7B | 100 | ||
| 2013 Q4 | 783 | $4.7B | 100 | ||
| 2013 Q3 | 682 | $3.3B | 100 | ||
| 2013 Q2 | 422 | $1.3B | 0 |
Holding changes this quarter
Marshall Wace North America L.P.'s most significant position changes for 2021-09-30: New buy: Cisco Systems Inc (CSCO); Sold out: Ss Spdr S&p Biotech ETF (XBI); New buy: Fortinet Inc (FTNT); Sold out: Cimarex Energy Co (XECEUR); New buy: Transdigm Group Inc (TDG).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | UBER | Uber Technologies Inc | +1% | +3061.41% | Add |
| 2 | CSCO | Cisco Systems Inc | +0.9% | NEW | New buy |
| 3 | NFLX | Netflix Inc | +0.8% | +116.97% | Add |
| 4 | PFE | Pfizer Inc | +0.8% | +821.65% | Add |
| 5 | LW | Lamb Weston Holdings Inc | +0.7% | +2461.11% | Add |
| 6 | CMCSA | Comcast Corp-class A | +0.6% | +1730.52% | Add |
| 7 | SPGI | S&p Global Inc | +0.6% | +311.82% | Add |
| 8 | AVGO | Broadcom Inc | +0.6% | +255.69% | Add |
| 9 | MSFT | Microsoft CORP | +0.5% | +14.26% | Add |
| 10 | MET | Metlife Inc | +0.5% | +306.05% | Add |
| 11 | FTNT | Fortinet Inc | +0.4% | NEW | New buy |
| 12 | NVDA | Nvidia CORP | +0.4% | +37464.38% | Add |
| 13 | REGN | Regeneron Pharmaceuticals | +0.4% | +221.46% | Add |
| 14 | ADI | Analog Devices Inc | +0.4% | +343.29% | Add |
| 15 | PXDEUR | Pioneer Natural Resources Co | +0.3% | +702.51% | Add |
| 16 | LLY | Eli Lilly & Co | +0.3% | +427.55% | Add |
| 17 | IFF | Intl Flavors & Fragrances | +0.3% | +73.42% | Add |
| 18 | EXPE | Expedia Group Inc | +0.3% | +49.52% | Add |
| 19 | TDG | Transdigm Group Inc | +0.3% | NEW | New buy |
| 20 | ISRG | Intuitive Surgical Inc | +0.3% | +571.90% | Add |
| 21 | GS | Goldman Sachs Group Inc | +0.3% | +313.34% | Add |
| 22 | NKE | Nike Inc -cl B | +0.3% | +801.85% | Add |
| 23 | AVTR | Avantor Inc | -0.3% | -97.45% | Trim |
| 24 | FTCHQ | Farfetch Ltd-class A | -0.3% | -98.19% | Trim |
| 25 | BLDR | Builders Firstsource Inc | -0.3% | -69.92% | Trim |
| 26 | GH | Guardant Health Inc | -0.3% | -95.69% | Trim |
| 27 | CVX | Chevron CORP | -0.3% | -48.50% | Trim |
| 28 | UPS | United Parcel Service-cl B | -0.3% | EXIT | Sold out |
| 29 | LMT | Lockheed Martin CORP | -0.3% | -77.61% | Trim |
| 30 | ZBH | Zimmer Biomet Holdings Inc | -0.3% | -66.05% | Trim |
| 31 | ZTS | Zoetis Inc | -0.3% | -23.37% | Trim |
| 32 | 0VVB | Paramount Global-class B | -0.3% | -97.57% | Trim |
| 33 | DASH | Doordash Inc - A | -0.4% | -95.09% | Trim |
| 34 | XECEUR | Cimarex Energy Co | -0.4% | EXIT | Sold out |
| 35 | ROST | Ross Stores Inc | -0.4% | -85.23% | Trim |
| 36 | XRAY | Dentsply Sirona Inc | -0.4% | -52.87% | Trim |
| 37 | IDXX | Idexx Laboratories Inc | -0.4% | -98.96% | Trim |
| 38 | XYZ | Block Inc | -0.4% | -69.55% | Trim |
| 39 | UNH | Unitedhealth Group Inc | -0.4% | -29.94% | Trim |
| 40 | DELL | Dell Technologies -c | -0.4% | -69.83% | Trim |
| 41 | IHS | IHS Holding Limited | -0.4% | -91.52% | Trim |
| 42 | IBM | Intl Business Machines CORP | -0.5% | -70.52% | Trim |
| 43 | UHS | Universal Health Services-b | -0.5% | -65.78% | Trim |
| 44 | GILD | Gilead Sciences Inc | -0.5% | -99.39% | Trim |
| 45 | XBI | Ss Spdr S&p Biotech ETF | -0.6% | EXIT | Sold out |
| 46 | TJX | Tjx Companies Inc | -0.6% | -84.51% | Trim |
| 47 | CRM | Salesforce Inc | -0.6% | -71.68% | Trim |
| 48 | ELV | Elevance Health Inc | -0.7% | -97.01% | Trim |
| 49 | META | Meta Platforms Inc-class A | -0.7% | -20.08% | Trim |
| 50 | DHR | Danaher CORP | -1% | -71.58% | Trim |
Filing History
FAQ
What is Marshall Wace North America L.P. and what type of investor is it?
Marshall Wace North America L.P. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2021-09-30), the firm manages a tracked equity portfolio valued at approximately $23.5B, spread across 2204 disclosed positions.
What are Marshall Wace North America L.P.'s largest equity positions?
Based on the latest 13F filing, Marshall Wace North America L.P.'s top holdings by market value are:
1. Amazon.com Inc (AMZN) — $1.1B (4.5%)
2. Microsoft CORP (MSFT) — $694.0M (3.0%)
3. Alphabet Inc-cl C (GOOG) — $669.2M (2.9%)
4. Alphabet Inc-cl A (GOOGL) — $633.1M (2.7%)
5. Meta Platforms Inc-class A (META) — $619.6M (2.6%)
What changes did Marshall Wace North America L.P. make in its most recent portfolio filing?
In the latest reported quarter, Marshall Wace North America L.P. made 50 notable position adjustments: 3 new positions were initiated, 19 existing holdings were added to, 25 positions were partially reduced, and 3 were completely exited. The largest of these moves: New buy: Cisco Systems Inc (CSCO); Sold out: Ss Spdr S&p Biotech ETF (XBI); New buy: Fortinet Inc (FTNT); Sold out: Cimarex Energy Co (XECEUR); New buy: Transdigm Group Inc (TDG)
What sectors does Marshall Wace North America L.P. focus on?
Marshall Wace North America L.P. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Communication Services: 25.5%
• Information Technology: 24.9%
• Health Care: 18.1%
• Consumer Discretionary: 14.5%
• Financials: 9.7%
• Industrials: 2.9%
Investment Profile
Marshall Wace North America L.P.'s portfolio is broadly diversified and long-term-holding.
Its turnover score has fallen from 69 to 0 over the past 4 quarters — a shift toward longer holding periods.
It has added to its NFLX position over the past two quarters (+$256.1M, now $311.8M), while trimming ELV over the same stretch (-$273.5M, still holding $4.8M).
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