Marshall Wace
Paul Marshall / Ian Wace · CIK 0001318757 · latest 13F for 2026-06-30 filed 2026-08-13
Estimated from 13F holdings — long US equities only; follow-the-filing returns are net of an assumed 10 bps per unit of turnover.
About the fund
Marshall Wace is a prominent global alternative investment manager headquartered in London, specializing in long/short equity strategies. The firm is well-known for its proprietary TOPS alpha capture system, which combines systematic, quantitative analysis with fundamental discretionary investing.
Strategy
Long/short equity, quantitative, and systematic strategies
Investment approach
Marshall Wace employs a blend of fundamental, systematic, and quantitative strategies, with a primary focus on long/short equity. The firm utilizes its proprietary TOPS (Trade Optimised Portfolio System) to capture and analyze investment ideas from sell-side practitioners globally, integrating these with discretionary fundamental stock picking. Technology and data are central to their investment process, which emphasizes risk management and continuous innovation.
History
Founded in 1997 by Paul Marshall and Ian Wace with $50 million in initial capital, the firm has grown into a major global hedge fund manager. It gained prominence for its proprietary TOPS alpha capture system launched in 2002 and formed a strategic partnership with KKR in 2015. The firm has navigated various market cycles, including the 2008 financial crisis, and continues to operate globally with a focus on innovation and technology.
Notable positions & campaigns
- Banco Espírito Santo2014 — The firm profited from a short position during the collapse of the Portuguese bank.
Profile generated 2026-10-09 from public sources; may be incomplete or out of date.
- Founded by
- Paul Marshall, Ian Wace
- Founded
- 1997
- HQ
- London, United Kingdom
- Reported AUM
- $82.1bn (as of November 2024)
- Website
- mwam.com
Management
- Paul MarshallChairman and Chief Investment Officer
- Ian WaceChief Executive Officer and Chief Risk Officer
Holdings heatmap
Latest 13F (2026-06-30): top 50 positions grouped by sector, sized by weight, coloured by the change in weight since the previous 13F.
Holdings map
Each tile is a position, sized by reported value and coloured by the stock's own price return (red down, green up) — the LiquidRound / finviz-style map.
Copy portfolio vs SPY
Growth of $1 following each filing the trading day after it was filed.
Top holdings
Latest 13F (2026-06-30).
| # | Ticker | Value | Weight |
|---|---|---|---|
| 1 | IVV | $29.8B | 25.3% |
| 2 | SPYM | $4.1B | 3.5% |
| 3 | AAPL | $2.6B | 2.2% |
| 4 | AMZN | $2.3B | 1.9% |
| 5 | AMD | $2.3B | 1.9% |
| 6 | NVDA | $1.7B | 1.5% |
| 7 | MU | $1.6B | 1.3% |
| 8 | MSFT | $1.2B | 1.1% |
| 9 | COST | $1.1B | 0.9% |
| 10 | MS | $972M | 0.8% |
| 11 | TSLA | $920M | 0.8% |
| 12 | TSM | $865M | 0.7% |
| 13 | GOOGL | $790M | 0.7% |
| 14 | HLT | $766M | 0.7% |
| 15 | UNH | $762M | 0.6% |
| 16 | JNJ | $759M | 0.6% |
| 17 | ABBV | $753M | 0.6% |
| 18 | BAC | $711M | 0.6% |
| 19 | KO | $670M | 0.6% |
| 20 | JPM | $647M | 0.5% |
| 21 | ABT | $503M | 0.4% |
| 22 | META | $502M | 0.4% |
| 23 | CME | $495M | 0.4% |
| 24 | BE | $490M | 0.4% |
| 25 | AXP | $483M | 0.4% |
Sector mix
Top-25 holdings by weight.
Changes this quarter
| Move | Ticker | Prev wt | Now wt |
|---|---|---|---|
| added | IVV | 18.5% | 25.3% |
| trimmed | NVDA | 2.6% | 1.5% |
| added | MU | 0.3% | 1.3% |
| added | COST | 0.3% | 0.9% |
| added | ABBV | 0.0% | 0.6% |
| trimmed | SPYM | 4.1% | 3.5% |
| trimmed | MELI | 0.6% | 0.0% |
| trimmed | CVX | 0.9% | 0.4% |
| added | JPM | 0.0% | 0.5% |
| added | BAC | 0.1% | 0.6% |
| trimmed | PFE | 0.5% | 0.0% |
| trimmed | AVGO | 0.8% | 0.4% |
| trimmed | CRCL | 0.6% | 0.2% |
| trimmed | GOOG | 0.6% | 0.2% |
| added | QCOM | 0.0% | 0.4% |
| trimmed | ROST | 0.4% | 0.0% |
| added | TXN | 0.0% | 0.4% |
| added | AXP | 0.0% | 0.4% |
| exited | MRK | 0.4% | 0.0% |
| added | IBM | 0.1% | 0.4% |
Quarterly copy returns
Each 13F held from the day after filing until the next filing.
| 13F period | Copy | SPY | Alpha | Coverage |
|---|---|---|---|---|
| 2026-06-30 | -1.8% | -0.1% | -1.8% | 92% |
| 2026-03-31 | +7.1% | +5.4% | +1.8% | 91% |
| 2025-12-31 | +8.9% | +8.5% | +0.5% | 90% |
| 2025-09-30 | +0.8% | +1.9% | -1.1% | 89% |
| 2025-06-30 | +3.3% | +4.5% | -1.2% | 89% |
| 2025-03-31 | +9.3% | +8.9% | +0.4% | 89% |
| 2024-12-31 | -2.9% | -2.2% | -0.7% | 87% |
| 2024-09-30 | +7.2% | +4.4% | +2.7% | 87% |
| 2024-06-30 | +7.3% | +6.2% | +1.1% | 88% |
| 2024-03-31 | +2.0% | +4.9% | -2.9% | 85% |
| 2023-12-31 | +5.5% | +5.6% | -0.2% | 87% |
| 2023-09-30 | +15.0% | +12.1% | +2.9% | 84% |
| 2023-06-30 | +0.1% | +1.9% | -1.8% | 81% |
| 2023-03-31 | +8.2% | +8.4% | -0.1% | 81% |
| 2022-12-31 | -4.9% | -0.5% | -4.4% | 74% |
| 2022-09-30 | +5.4% | +4.4% | +1.0% | 68% |
Filing dates
- 2026-08-1313F-HR for 2026-06-30 · $126.7B · 6,550 rows
- 2026-05-1513F-HR for 2026-03-31 · $100.4B · 6,623 rows
- 2026-02-1313F-HR for 2025-12-31 · $109.9B · 6,074 rows
- 2025-11-1313F-HR for 2025-09-30 · $98.6B · 5,977 rows
- 2025-08-1313F-HR for 2025-06-30 · $88.8B · 5,574 rows
- 2025-05-1513F-HR for 2025-03-31 · $78.8B · 5,394 rows
- 2025-02-1313F-HR for 2024-12-31 · $83.2B · 5,477 rows
- 2024-11-1413F-HR for 2024-09-30 · $82.1B · 3,720 rows
- 2024-08-1413F-HR for 2024-06-30 · $74.9B · 3,628 rows
- 2024-05-1513F-HR for 2024-03-31 · $65.7B · 3,335 rows
- 2024-02-1413F-HR for 2023-12-31 · $59.0B · 3,054 rows
- 2023-11-1413F-HR for 2023-09-30 · $49.4B · 3,017 rows
Use it with your AI
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