SEC 13F Intelligence

Notable Investors / Q1 2026

Paul Marshall’s Portfolio — MARSHALL WACE, LLP

Co-Founder & Chairman, Marshall Wace

CIK 0001318757 · GEORGE HOUSE, 131 SLOANE STREET, LONDON, X0, SW1X 9AT · 44-207-316-2251

About Paul Marshall

Sir Paul Marshall co-founded Marshall Wace, Europe's premier equity hedge fund, whose TOPS system — aggregating sell-side ideas quantitatively — became one of the industry's most successful systematic frameworks.

The Marshall Wace 13F lists thousands of long positions mirrored by unseen shorts; its value is in aggregate tilts and the scale of one of the world's largest long/short books.

Portfolio data below is from MARSHALL WACE, LLP’s SEC 13F filings. View the full filer page →

Reported Value
$100.4B
Q1 2026
Positions
6,623
Filings on Record
32
2019–present window
Filed
May 15, 2026
original filing

Summary

Marshall Wace, LLP reported $100.4B in U.S.-listed holdings across 6,623 positions for Q1 2026.

Its largest position, Ishares S P 500, represents 8.4% of the portfolio.

Compared with Q4 2025, the fund opened 749 new positions and exited 578.

Portfolio Metrics

Turnover
+31.2%
vs prior filed quarter
Top-10 Concentration
+25.4%
share of reported value
Largest Position
+8.4%
Ishares S P 500
New / Exited
749 / 578
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $9.8BQ4 ’18Q1 ’19: $21.2BQ2 ’19: $12.2BQ3 ’19: $12.7BQ4 ’19: $14.5BQ4 ’19Q1 ’20: $10.0BQ2 ’20: $14.3BQ3 ’20: $15.6BQ4 ’20: $18.5BQ4 ’20Q1 ’21: $21.8BQ2 ’21: $22.1BQ3 ’21: $24.1BQ4 ’21: $54.2BQ4 ’21Q1 ’22: $52.8BQ2 ’22: $48.6BQ3 ’22: $45.6BQ4 ’22: $44.5BQ4 ’22Q1 ’23: $47.1BQ2 ’23: $51.2BQ3 ’23: $49.4BQ4 ’23: $59.0BQ4 ’23Q1 ’24: $65.7BQ2 ’24: $74.9BQ3 ’24: $82.1BQ4 ’24: $83.2BQ4 ’24Q1 ’25: $78.8BQ2 ’25: $88.8BQ3 ’25: $98.6BQ4 ’25: $109.9BQ4 ’25Q1 ’26: $100.4Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 64.1%ETP: 25.5%Other: 4.7%ADR: 3.6%REIT: 1.2%Other: 1.0%
  • Common Stock · 64.1% · $64.4B
  • ETP · 25.5% · $25.6B
  • Other · 4.7% · $4.7B
  • ADR · 3.6% · $3.6B
  • REIT · 1.2% · $1.2B
  • Other · 1.0% · $962M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SPDR PORTFOLIO LNEW+49.65M49.65M+$3.8B$3.8B
VLOVALERO ENERGYNEW+682.3K682.3K+$169M$169M
COPCONOCOPHILLIPSNEW+1.24M1.24M+$163M$163M
GPCGENUINE PARTS CONEW+1.47M1.47M+$156M$156M
APPAPPLOVIN CO-CL ANEW+355.2K355.2K+$141M$141M
WELLWELLTOWER INCNEW+675.9K675.9K+$134M$134M
KEYSKEYSIGHT TECNEW+413.3K413.3K+$117M$117M
APDAIR PRODS & CHEMNEW+363.5K363.5K+$106M$106M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

34 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ISHARES-S&P 500ETP17.05%$17.1B26.21M
2SPDR PORTFOLIO LETP3.69%$3.7B48.43M
3NVDANVIDIA CORPhistory →COMMON STOCK2.37%$2.4B13.66M
4AAPLAPPLE INChistory →COMMON STOCK2.05%$2.1B8.12M
5AMZNAMAZON.COM INChistory →COMMON STOCK1.66%$1.7B8.03M
6MSFTMICROSOFT CORPhistory →COMMON STOCK1.19%$1.2B3.22M
7AVGOBROADCOM INChistory →COMMON STOCK0.67%$674M2.18M
8TSMTAIWAN SEMIC-ADRhistory →ADR0.66%$666M1.97M
9TSLATESLA INChistory →COMMON STOCK0.58%$586M1.58M
10HLTHILTON WORLDWIDEhistory →COMMON STOCK0.58%$583M1.92M
11DWDMORGAN STANLEYhistory →COMMON STOCK0.55%$553M3.36M
12AMDADV MICRO DEVICEhistory →COMMON STOCK0.55%$549M2.70M
13GOOGLALPHABET INC-Ahistory →COMMON STOCK0.55%$548M1.91M
14CHVCHEVRON CORPhistory →COMMON STOCK0.53%$530M2.56M
15CRCLCIRCLE INTERNEThistory →COMMON STOCK0.47%$474M4.96M
16GOOGALPHABET INC-Chistory →COMMON STOCK0.40%$403M1.41M
17JNJJOHNSON&JOHNSONhistory →COMMON STOCK0.40%$398M1.63M
18METAMETA PLATFORMS-Ahistory →COMMON STOCK0.33%$336M587.7K
19LLYELI LILLY & COhistory →COMMON STOCK0.33%$335M364.1K
20MRKMERCK & COhistory →COMMON STOCK0.33%$328M2.73M
21MLB1MERCADOLIBRE INChistory →COMMON STOCK0.32%$319M184.6K
22PLTRPALANTIR TECHN-Ahistory →COMMON STOCK0.29%$293M2.00M
23TMUST-MOBILE US INChistory →COMMON STOCK0.29%$292M1.39M
24KOCOCA-COLA CO/THEhistory →COMMON STOCK0.29%$286M3.76M
25AMATAPPLIED MATERIALhistory →COMMON STOCK0.28%$277M810.6K
26ACCENTURE PLC-ACOMMON STOCK0.26%$262M1.32M
27ROSTROSS STORES INChistory →COMMON STOCK0.25%$246M1.14M
28ALNYALNYLAM PHARMACEhistory →COMMON STOCK0.24%$245M740.4K
29TMOTHERMO FISHERhistory →COMMON STOCK0.23%$234M476.8K
30SLBSLB LTDhistory →COMMON STOCK0.23%$228M4.43M
31UNHUNITEDHEALTH GRPhistory →COMMON STOCK0.22%$223M825.7K
32MARMARRIOTT INTL-Ahistory →COMMON STOCK0.22%$220M672.0K
33NFLXNETFLIX INChistory →COMMON STOCK0.22%$219M2.28M
34WMTWALMART INChistory →COMMON STOCK0.21%$216M1.74M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$100.4B6,623May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$109.9B6,074Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$98.6B5,977Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$88.8B5,574Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$78.8B5,394May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$83.2B5,477Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$82.1B3,720Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$74.9B3,628Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$65.7B3,335May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$59.0B3,054Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$49.4B3,017Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$51.2B3,400Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$47.1B3,527May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$44.5B3,758Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$45.6B4,319Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$48.6B5,734Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$52.8B4,649May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$54.2B5,264Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$24.1B3,395Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021REVEALED$22.1B2,977Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$21.8B2,807May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$18.5B1,952Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$15.6B1,642Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$14.3B1,533Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$10.0B1,603May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$14.5B1,735Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$12.7B1,740Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$12.2B1,378Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019REVEALED$21.2B3,399May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$9.8B1,579Feb 14, 201913F-HRchanges · EDGAR ↗

Other Included Managers

This filing reports holdings on behalf of 4 additional managers.

  • Marshall Wace North America L.P.028-11377
  • MARSHALL WACE ASIA Ltd028-14472
  • MARSHALL WACE SINGAPORE PTE LTD028-25074
  • Marshall Wace Middle East Ltd028-25069

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.