Total reported value
$16.8B
Reporting period: 2026-03-31 · Number of holdings: 1301
MACQUARIE GROUP LTD disclosed 1301 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $16.8B and a quarterly turnover rate of 49.3%.
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Trim VOO
-78.1% -$1.2B
Add SPY
+576.7% $736.4M
Trim MSFT
-41.0% -$477.0M
Trim NVDA
-38.0% -$547.5M
Trim AMZN
-50.3% -$306.7M
Trim IVV
-30.2% -$600.5M
MACQUARIE GROUP LTD is rotating capital from mega-cap tech conviction and popular ETFs into a broader SPY-centered beta exposure. The massive downsizing of VOO alongside trims of NVDA, MSFT, AAPL, AMZN, and GOOGL signals a deliberate unwind of concentration risk and a shift toward more liquid, market-weight positioning. This is not a defensive crouch—it's a tactical beta reposition to capture broader participation while hedging the momentum-factor fatigue in over-extended tech.
The market regime bet embedded here is a rotation from single-stock tech leadership to broader market beta, anticipating that equity risk premium remains attractive but leadership broadens on resilient economic data and easing financial conditions. The opposing thesis is that tech concentration is structural, not transient—disintermediating these cash machines too early sacrifices alpha in a still-narrow rally where the mega-caps dictate index returns.
Momentum factor crowding is the portfolio's largest unchecked tail risk: with a 90.75 momentum tilt and 813 holdings, Macquarie is effectively running a quant mental model that demands continuation across a broad set of securities. A sharp volatility spike or factor reversal—where previous winners become losers in a crowded unwind—would compress the very factor that drives returns, while the VOO-to-SPY swap adds zero factor diversification, merely swapping one S&P 500 beta replicator for another.
Generated by AI based on public SEC filings. Reflects past holdings only and should not be treated as investment advice.
Showing top 813 holdings (of 1301 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 7.12% | -0.72% | -30.24% | |
| 2 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 5.20% | +4.61% | +576.69% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 4.50% | -1.19% | -38.01% | |
| 4 | AAPL | Apple INC | Stock-Tech | 3.88% | -0.62% | -32.23% | |
| 5 | MSFT | Microsoft CORP | Stock-Tech | 2.34% | -1.46% | -41.04% | |
| 6 | AVGO | Broadcom INC | Stock-Tech | 2.30% | +0.36% | -2.93% | |
| 7 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 2.14% | -0.46% | -34.50% | |
| 8 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.92% | -0.19% | -27.00% | |
| 9 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 1.85% | -4.65% | -78.07% | |
| 10 | MU | Micron Technology INC | Stock-Tech | 1.68% | +0.69% | +4.65% | |
| 11 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.49% | -0.94% | -50.31% | |
| 12 | XOM | Exxon Mobil CORP | Stock-Energy | 1.43% | +0.64% | -5.45% | |
| 13 | CSCO | Cisco Systems INC | Stock-Tech | 1.29% | +0.49% | +17.76% | |
| 14 | META | Meta Platforms Inc-class A | Stock-Comm Services | 1.19% | -0.34% | -34.06% | |
| 15 | PM | Philip Morris International | Stock-Consumer Staples | 0.97% | — | +18.74% | |
| 16 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 0.95% | -0.16% | -19.27% | |
| 17 | TSLA | Tesla INC | Stock-Consumer Disc | 0.91% | -0.43% | -39.70% | |
| 18 | C | Citigroup INC | Stock-Financials | 0.87% | +0.02% | -23.15% | |
| 19 | GILD | Gilead Sciences INC | Stock-Healthcare | 0.84% | — | -8.88% | |
| 20 | T | At&t INC | Stock-Comm Services | 0.81% | — | -6.96% | |
| 21 | WELL | Welltower INC | Stock-Real Estate | 0.80% | — | -6.08% | |
| 22 | WFC | Wells Fargo & Co | Stock-Financials | 0.79% | +0.07% | -6.87% | |
| 23 | LRCX | Lam Research CORP | Stock-Tech | 0.77% | — | -29.29% | |
| 24 | HON | Honeywell International INC | Stock-Industrials | 0.74% | +0.35% | +20.50% | |
| 25 | BMY | Bristol-myers Squibb Co | Stock-Healthcare | 0.71% | — | -2.85% | |
| 26 | MCK | Mckesson CORP | Stock-Healthcare | 0.69% | — | -5.68% | |
| 27 | NEE | Nextera Energy INC | Stock-Utilities | 0.68% | — | -12.44% | |
| 28 | VZ | Verizon Communications INC | Stock-Comm Services | 0.67% | — | +2.81% | |
| 29 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.66% | — | +6.29% | |
| 30 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.64% | — | -4.40% | |
| 31 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.62% | -0.19% | -50.74% | |
| 32 | PLD | Prologis INC | Stock-Real Estate | 0.62% | — | -12.62% | |
| 33 | NEM | Newmont CORP | Stock-Materials | 0.60% | — | +2.51% | |
| 34 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.57% | -0.09% | -29.94% | |
| 35 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.57% | -0.20% | -36.80% | |
| 36 | CVS | Cvs Health CORP | Stock-Healthcare | 0.57% | — | -2.40% | |
| 37 | BPOP | Popular INC | Stock-Financials | 0.55% | — | +1.56% | |
| 38 | CTSH | Cognizant Tech Solutions-a | Stock-Tech | 0.54% | -0.02% | -3.46% | |
| 39 | EQIX | Equinix INC | Stock-Real Estate | 0.51% | — | -8.97% | |
| 40 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 0.51% | — | -6.73% | |
| 41 | UNP | Union Pacific CORP | Stock-Industrials | 0.51% | — | -6.01% | |
| 42 | JNJ | Johnson & Johnson | Stock-Healthcare | 0.48% | — | -29.46% | |
| 43 | IVZ | Invesco Ltd. | Stock-Financials | 0.48% | — | +11.95% | |
| 44 | BKNG | Booking Holdings INC | Stock-Consumer Disc | 0.48% | -0.02% | -7.18% | |
| 45 | PLTR | Palantir Technologies Inc-a | Stock-Tech | 0.47% | -0.16% | -33.33% | |
| 46 | APH | Amphenol Corp-cl A | Stock-Tech | 0.46% | — | -24.35% | |
| 47 | SO | Southern Co/the | Stock-Utilities | 0.43% | — | -0.58% | |
| 48 | WMT | Walmart INC | Stock-Consumer Staples | 0.42% | — | +1.01% | |
| 49 | MO | Altria Group INC | Stock-Consumer Staples | 0.42% | — | +8.72% | |
| 50 | DUK | Duke Energy CORP | Stock-Utilities | 0.41% | — | -1.67% |
Performance for Q3 2026
+3.9%
Performance Last 4 Quarters
+21.9%
Based on 72% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 1301 | $16.8B | 49 | |
| 2025-12-31 | 1331 | $22.9B | 100 | |
| 2025-09-30 | 3191 | $85.7B | 46 | |
| 2025-06-30 | 3191 | $81.5B | 0 | |
| 2025-03-31 | 3241 | $80.6B | 0 | |
| 2024-12-31 | 3160 | $82.4B | 0 | |
| 2024-09-30 | 2723 | $92.6B | 0 | |
| 2024-06-30 | 3133 | $87.2B | 0 | |
| 2024-03-31 | 3131 | $88.2B | 0 | |
| 2023-12-31 | 2732 | $86.6B | 0 | |
| 2023-09-30 | 2724 | $79.6B | 0 | |
| 2023-06-30 | 2712 | $87.5B | — | |
| 2023-03-31 | 3423 | $84.2B | 0 | |
| 2022-12-31 | 3410 | $84.7B | 0 | |
| 2022-09-30 | 4668 | $81.5B | 0 | |
| 2022-06-30 | 5111 | $89.1B | 0 | |
| 2022-03-31 | 5425 | $131.5B | 0 | |
| 2021-12-31 | 5410 | $120.0B | 0 | |
| 2021-09-30 | 5388 | $117.3B | 0 | |
| 2021-06-30 | 5348 | $121.8B | 73 | |
| 2021-03-31 | 4348 | $70.7B | 25 | |
| 2020-12-31 | 4284 | $68.5B | 29 | |
| 2020-09-30 | 4205 | $59.1B | 20 | |
| 2020-06-30 | 4529 | $58.1B | 30 | |
| 2020-03-31 | 3604 | $48.7B | 49 | |
| 2019-12-31 | 3617 | $70.0B | 23 | |
| 2019-09-30 | 3308 | $59.7B | 16 | |
| 2019-06-30 | 3697 | $59.3B | 16 | |
| 2019-03-31 | 3419 | $58.6B | 21 | |
| 2018-12-31 | 3936 | $51.8B | 26 | |
| 2018-09-30 | 3720 | $61.4B | 16 | |
| 2018-06-30 | 3734 | $58.0B | 19 | |
| 2018-03-31 | 3729 | $54.9B | 15 | |
| 2017-12-31 | 4007 | $56.6B | 15 | |
| 2017-09-30 | 3786 | $55.7B | 20 | |
| 2017-06-30 | 2778 | $54.7B | 15 | |
| 2017-03-31 | 2800 | $55.0B | 16 | |
| 2016-12-31 | 2768 | $52.2B | 19 | |
| 2016-09-30 | 2229 | $52.0B | 19 | |
| 2016-06-30 | 2221 | $50.9B | 17 | |
| 2016-03-31 | 2147 | $49.6B | 16 | |
| 2015-12-31 | 2183 | $48.7B | 18 | |
| 2015-09-30 | 2295 | $46.6B | 22 | |
| 2015-06-30 | 2303 | $50.5B | 18 | |
| 2015-03-31 | 2254 | $51.0B | 21 | |
| 2014-12-31 | 2231 | $48.5B | 24 | |
| 2014-09-30 | 2165 | $46.6B | 20 | |
| 2014-06-30 | 2220 | $44.8B | 41 | |
| 2014-03-31 | 2183 | $57.9B | 17 | |
| 2013-12-31 | 2220 | $55.8B | 21 | |
| 2013-09-30 | 2421 | $51.1B | 18 | |
| 2013-06-30 | 2327 | $45.8B | 0 |
Macquarie Group LTD's most significant position changes for 2026-03-31: Trim: Vanguard S&p 500 ETF (VOO) — shares -78.07%; Add: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares +576.69%; Trim: Microsoft CORP (MSFT) — shares -41.04%; Trim: Nvidia CORP (NVDA) — shares -38.01%; Trim: Amazon.com INC (AMZN) — shares -50.31%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SPY | Ss Spdr S&p 500 ETF Trust-us | +4.6% | +576.69% | Add |
| 2 | MU | Micron Technology INC | +0.7% | +4.65% | Add |
| 3 | XOM | Exxon Mobil CORP | +0.6% | -5.45% | Trim |
| 4 | CSCO | Cisco Systems INC | +0.5% | +17.76% | Add |
| 5 | AVGO | Broadcom INC | +0.4% | -2.93% | Trim |
| 6 | HON | Honeywell International INC | +0.4% | +20.50% | Add |
| 7 | DXCM | Dexcom INC | +0.2% | +772.43% | Add |
| 8 | WFC | Wells Fargo & Co | +0.1% | -6.87% | Trim |
| 9 | C | Citigroup INC | 0% | -23.15% | Trim |
| 10 | CTSH | Cognizant Tech Solutions-a | 0% | -3.46% | Trim |
| 11 | BKNG | Booking Holdings INC | 0% | -7.18% | Trim |
| 12 | V | Visa Inc-class A Shares | -0.1% | -28.02% | Trim |
| 13 | JPM | Jpmorgan Chase & Co | -0.1% | -29.94% | Trim |
| 14 | AMAT | Applied Materials INC | -0.1% | -65.01% | Trim |
| 15 | GS | Goldman Sachs Group INC | -0.1% | -55.64% | Trim |
| 16 | PEP | Pepsico INC | -0.1% | -52.88% | Trim |
| 17 | STLA | Stellantis N.V. | -0.1% | -88.41% | Trim |
| 18 | NFLX | Netflix INC | -0.2% | -49.89% | Trim |
| 19 | MS | Morgan Stanley | -0.2% | -63.02% | Trim |
| 20 | INTU | Intuit INC | -0.2% | -55.50% | Trim |
| 21 | HOOD | Robinhood Markets INC - A | -0.2% | -82.60% | Trim |
| 22 | IBIT | Ishares Bitcoin Trust ETF | -0.2% | -19.27% | Trim |
| 23 | PLTR | Palantir Technologies Inc-a | -0.2% | -33.33% | Trim |
| 24 | CEG | Constellation Energy | -0.2% | -75.91% | Trim |
| 25 | FIS | Fidelity National Info Serv | -0.2% | -91.25% | Trim |
| 26 | LUV | Southwest Airlines Co | -0.2% | -98.16% | Trim |
| 27 | APP | Applovin Corp-class A | -0.2% | -61.33% | Trim |
| 28 | COO | Cooper Cos Inc/the | -0.2% | -97.69% | Trim |
| 29 | EVR | Evercore INC - A | -0.2% | -66.81% | Trim |
| 30 | GOOG | Alphabet Inc-cl C | -0.2% | -27.00% | Trim |
| 31 | MRK | Merck & Co. INC. | -0.2% | -50.74% | Trim |
| 32 | LLY | Eli Lilly & Co | -0.2% | -36.80% | Trim |
| 33 | GPN | Global Payments INC | -0.2% | -93.62% | Trim |
| 34 | CME | Cme Group INC | -0.2% | -83.41% | Trim |
| 35 | BLK | Blackrock INC | -0.2% | -66.78% | Trim |
| 36 | COF | Capital One Financial CORP | -0.2% | -75.06% | Trim |
| 37 | REXR | Rexford Industrial Realty In | -0.2% | -86.95% | Trim |
| 38 | MA | Mastercard INC - A | -0.3% | -55.77% | Trim |
| 39 | CRM | Salesforce INC | -0.3% | -59.88% | Trim |
| 40 | META | Meta Platforms Inc-class A | -0.3% | -34.06% | Trim |
| 41 | TSLA | Tesla INC | -0.4% | -39.70% | Trim |
| 42 | GOOGL | Alphabet Inc-cl A | -0.5% | -34.50% | Trim |
| 43 | BAC | Bank Of America CORP | -0.5% | -72.43% | Trim |
| 44 | AAPL | Apple INC | -0.6% | -32.23% | Trim |
| 45 | ABBV | Abbvie INC | -0.6% | -72.29% | Trim |
| 46 | IVV | Ishares Core S&p 500 ETF | -0.7% | -30.24% | Trim |
| 47 | AMZN | Amazon.com INC | -0.9% | -50.31% | Trim |
| 48 | NVDA | Nvidia CORP | -1.2% | -38.01% | Trim |
| 49 | MSFT | Microsoft CORP | -1.5% | -41.04% | Trim |
| 50 | VOO | Vanguard S&p 500 ETF | -4.7% | -78.07% | Trim |
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