Institutional Manager · CIK 0001318757

MARSHALL WACE, LLP

LONDON, X0 · File #028-11304

Latest AUM

$109.85B

Positions

6,074

Top-10 Concentration

65.3%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
NEW	VANGUARD S&P 500	922908363	+4,580,704	+$2.87B	$0
REDUCE	ISHARES-S&P 500	464287200	-1,655,028	-$1.13B	+$27.0M
ADD	CIRCLE INTERNET	CRCL	+8,394,278	+$665.7M	-$41.8M
ADD	COCA-COLA CO/THE	KO	+6,789,574	+$474.7M	+$16,873
REDUCE	BOSTON SCIENTIFC	BSX	-4,613,988	-$439.9M	-$12.6M
ADD	THERMO FISHER	TMO	+437,878	+$253.7M	+$122,759
REDUCE	LIBERTY MEDIA CO	FWONB	-2,365,729	-$233.0M	-$14.6M
REDUCE	CHEVRON CORP	CVX	-1,524,689	-$232.4M	-$5.4M
REDUCE	IBM	INTR	-781,215	-$231.4M	+$11.2M
REDUCE	GILEAD SCIENCES	GILD	-1,841,397	-$226.0M	+$21.6M

Sector Allocation

Technology

16.6%$18.26B

Consumer Discretionary

11.2%$12.28B

9.4%$10.34B

3.9%$4.25B

3.6%$3.96B

3.4%$3.73B

Communication Services

3.2%$3.48B

1.2%$1.29B

1.1%$1.26B

0.6%$662.8M

0.6%$646.3M

Filing History

Feb 13, 202613F HOLDINGS REPORTQ/E Dec 20256,074 pos · $109.85B
Nov 13, 202513F HOLDINGS REPORTQ/E Sep 20255,977 pos · $98.60B
Aug 13, 202513F HOLDINGS REPORTQ/E Jun 20255,574 pos · $88.78B
May 15, 202513F HOLDINGS REPORTQ/E Mar 20255,394 pos · $78.77B
Feb 13, 202513F HOLDINGS REPORTQ/E Dec 20245,477 pos · $83.18B
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 20243,720 pos · $82.10B
Aug 14, 202413F HOLDINGS REPORTQ/E Jun 20243,628 pos · $74.89B
May 15, 202413F HOLDINGS REPORTQ/E Mar 20243,335 pos · $65.67B
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 20233,017 pos · $49.37B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	ISHARES-S&P 500	464287200	15,666,128	$10.73B	22.45%
2	ISHARES-S&P 500	464287200	14,978,922	$10.26B	21.47%
3	VANGUARD S&P 500	922908363	4,580,704	$2.87B	6.01%
4	AMAZON.COM INC	AMZN	6,429,204	$1.48B	3.10%
5	ISHARES-S&P 500	464287200	1,734,508	$1.19B	2.49%
6	NVIDIA CORP	NVDA	6,288,074	$1.17B	2.45%
7	APPLE INC	AAPL	3,856,527	$1.05B	2.19%
8	NVIDIA CORP	NVDA	4,687,808	$874.5M	1.83%
9	MICROSOFT CORP	MSFT	1,767,489	$854.8M	1.79%
10	CIRCLE INTERNET	CRCL	9,178,621	$727.9M	1.52%
11	AMAZON.COM INC	AMZN	3,126,258	$721.6M	1.51%
12	NVIDIA CORP	NVDA	3,463,823	$646.0M	1.35%
13	ALPHABET INC-A	GOOG	1,861,200	$582.6M	1.22%
14	ADV MICRO DEVICE	AMD	2,700,000	$578.2M	1.21%
15	WALMART INC	WMT	5,095,241	$567.7M	1.19%
16	TESLA INC	TSLA	1,207,514	$543.0M	1.14%
17	ELI LILLY & CO	LLY	501,209	$538.6M	1.13%
18	META PLATFORMS-A	META	783,766	$517.4M	1.08%
19	ELI LILLY & CO	LLY	473,634	$509.0M	1.06%
20	BROADCOM INC	AVGO	1,468,905	$508.4M	1.06%