Magellan Asset Management Ltd

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 14, 2024), Magellan Asset Management Ltd reported 155 stock positions worth $10.5 billion. Its top holding was Microsoft (MSFT) at 7.5% of the portfolio, followed by Amazon.com (AMZN, 7.1%) and Intercontinental Exchange (ICE, 5.0%). Compared with Q4 2023, it opened 2 new positions, sold out of 1, added to 41 and reduced 73. The biggest buy was Meta Platforms Class A (META, shares +348%) and the biggest sale Evergy (EVRG, shares −94%).

Most Recent 13F
Q2 2026
Location
Sydney, C3
CIK
0001536105
Portfolio Value
$10.5B (Q1 2024)
SEC Filing
0001085146-24-002450 ↗ filed May 14, 2024

Holdings Value

0$5.0B$10.0B$15.0B Q1 2024: $10.5B $10.5B Q1 2024 Q2 2024: $10.5B Q2 2024 Q3 2024: $10.0B Q3 2024 Q4 2024: $9.1B Q4 2024 Q1 2025: $8.2B Q1 2025 Q2 2025: $8.7B Q2 2025 Q3 2025: $8.4B Q3 2025 Q4 2025: $8.2B Q4 2025 Q1 2026: $7.7B Q1 2026 Q2 2026: $4.5B Q2 2026

Holdings 155 stocks · $10.5B
MSFT Microsoft Corp. 7.53% 1,873,684 $788.3M Reduce -4.5%
AMZN Amazon.com Inc. 7.10% 4,120,958 $743.3M Reduce -11.2%
ICE Intercontinental Exchange Inc. 4.97% 3,789,673 $520.8M Add +4.1%
UNH Unitedhealth Group Inc. 4.17% 882,730 $436.7M Add +26.3%
V Visa Inc. Class A 3.86% 1,447,926 $404.1M Reduce -8.0%
MA Mastercard Inc. Class A 3.86% 838,930 $404.0M Reduce -14.8%
CMG Chipotle Mexican Grill Inc. 3.79% 136,631 $397.2M Reduce -18.4%
META Meta Platforms Inc. Class A 3.64% 785,153 $381.3M Add +348.5%
YUM Yum! Brands Inc. 3.32% 2,510,311 $348.1M Reduce -4.8%
INTU Intuit Inc. 3.28% 528,051 $343.2M Reduce -6.9%
TT Trane Technologies PLC 3.02% 1,054,133 $316.5M Reduce -8.4%
CL Colgate-Palmolive Co. 2.97% 3,456,483 $311.3M Add +71.4%
WEC WEC Energy Group Inc. 2.97% 3,782,811 $310.6M Reduce -20.2%
NFLX Netflix Inc. 2.86% 492,227 $298.9M Reduce -10.2%
HCA HCA Healthcare Inc. 2.73% 856,804 $285.8M Reduce -24.3%
SYK Stryker Corp. 2.71% 792,121 $283.5M Reduce -5.8%
AAPL Apple Inc. 2.45% 1,496,149 $256.6M Add +15.8%
AMT American Tower Corp. 2.39% 1,266,534 $250.3M Reduce -1.8%
D Dominion Energy Inc. 2.28% 4,849,028 $238.5M Add +12.7%
SRE Sempra 2.26% 3,296,349 $236.8M Reduce -6.3%
ES Eversource Energy 2.23% 3,900,118 $233.1M Add +27.2%
GOOG Alphabet Inc. Class C 2.07% 1,426,104 $217.1M Reduce -20.1%
NSC Norfolk Southern Corp. 2.02% 830,773 $211.7M Reduce -14.4%
LOW Lowe's Cos Inc. 1.94% 798,979 $203.5M Reduce -36.2%
RSG Republic Services Inc. 1.83% 999,604 $191.4M Reduce -5.6%
CSX CSX Corp. 1.59% 4,488,642 $166.4M Reduce -7.2%
XEL Xcel Energy Inc. 1.54% 2,993,786 $160.9M Add +7.7%
GOOGL Alphabet Inc. Class A 1.38% 958,562 $144.7M Reduce -6.5%
CMS CMS Energy Corp. 1.26% 2,189,510 $132.1M Reduce -21.4%
MCD McDonald's Corp. 1.23% 455,834 $128.5M Reduce -35.8%
LNT Alliant Energy Corp. 1.21% 2,513,424 $126.7M Add +54.0%
CCI Crown Castle Inc. 1.13% 1,119,840 $118.5M Reduce -5.7%
BKNG Booking Holdings Inc. 0.87% 25,119 $91.1M Reduce -0.4%
AWK American Water Works Co. Inc. 0.87% 745,061 $91.1M Add +329.1%
TSM Taiwan Semiconductor-SP ADR 0.44% 342,088 $46.5M Reduce -11.4%
BRK.B Berkshire Hathaway Inc. Class B 0.41% 102,472 $43.1M Add +34.9%
DG Dollar General Corp. 0.37% 246,582 $38.5M Add +26.7%
SO The Southern Co. 0.31% 447,866 $32.1M Reduce 0.0%
AEP American Electric Power 0.31% 371,635 $32.0M Reduce -3.9%
DUK Duke Energy Corp. 0.30% 329,853 $31.9M Reduce -1.6%
EXC Exelon Corp. 0.30% 825,720 $31.0M Add +6.3%
PEG Public Service Enterprise GP 0.27% 426,765 $28.5M Add +1.2%
USB US Bancorp 0.27% 627,931 $28.1M Add +8.6%
BABA Alibaba Group Holding-SP ADR 0.26% 376,975 $27.3M No change
ED Consolidated Edison Inc. 0.26% 296,254 $26.9M Add +0.6%
CRM Salesforce Inc. 0.25% 86,279 $26.0M Reduce -52.0%
COF Capital One Financial Corp. 0.22% 151,665 $22.6M Reduce -50.3%
SBAC SBA Communications Corp. 0.19% 92,190 $20.0M Add +2.6%
DTE DTE Energy Company 0.19% 174,853 $19.6M Add +1.0%
ETR Entergy Corp. 0.19% 183,594 $19.4M Add +5.4%
FE Firstenergy Corp. 0.18% 475,462 $18.4M Add +1.8%
ULTA Ulta Beauty Inc. 0.17% 33,716 $17.6M Add +21512.8%
PPL PPL Corp. 0.17% 632,700 $17.4M Add +6.4%
AEE Ameren Corporation 0.16% 221,763 $16.4M Reduce -1.1%
CNP Centerpoint Energy Inc. 0.15% 533,553 $15.2M Add +4.2%
ATO Atmos Energy Corp. 0.14% 126,113 $15.0M Add +0.5%
NI Nisource Inc. 0.10% 378,956 $10.5M Add +5.1%
EVRG Evergy Inc. 0.10% 195,206 $10.4M Reduce -93.5%
MDLZ Mondelez International Inc. Class A 0.09% 127,692 $8.9M Reduce -4.9%
WTRG Essential Utilities Inc. 0.08% 224,231 $8.3M Add +12.2%
PNW Pinnacle West Capital 0.07% 95,521 $7.1M Add +4.3%
KO The Coca-Cola Co. 0.07% 114,140 $7.0M Add +3.6%
AGR Avangrid Inc. 0.06% 166,925 $6.1M Add +3.3%
OGE Oge Energy Corp. 0.06% 170,664 $5.9M Reduce -1.7%
AXP American Express Co. 0.04% 17,807 $4.1M Reduce -21.3%
IDA Idacorp Inc. 0.04% 42,728 $4.0M Add +13.3%
PG The Procter & Gamble Co. 0.03% 21,929 $3.6M Add +2.4%
POR Portland General Electric Co. 0.03% 76,271 $3.2M Reduce -1.7%
BKH Black Hills Corp. 0.03% 53,767 $2.9M Reduce -1.6%
SBUX Starbucks Corp. 0.03% 31,695 $2.9M Add +14.3%
OGS One Gas Inc. 0.03% 43,799 $2.8M Add +10.6%
FISV Fiserv Inc. 0.03% 17,175 $2.7M Reduce -12.0%
ESGD iShares Trust iShares ESG Aw 0.03% 33,793 $2.7M No change
ALE Allete Inc. 0.03% 45,150 $2.7M Reduce -5.7%
SR Spire Inc. 0.02% 36,408 $2.2M Reduce -1.3%
NWE Northwestern Energy Group Inc. 0.02% 43,721 $2.2M Add +23.4%
TXNM TXNM Energy Inc. filed as PNM RES INC 0.02% 58,562 $2.2M Reduce -1.2%
MGEE Mge Energy Inc. 0.02% 26,331 $2.1M Reduce -0.6%
AWR American States Water Co. filed as AMER STATES WTR CO 0.02% 27,285 $2.0M Reduce -0.6%
CWT California Water Service Grp 0.02% 36,866 $1.7M Reduce -0.7%
AVA Avista Corp. 0.02% 47,168 $1.7M Reduce -1.4%
HTO H2O America filed as SJW GROUP 0.01% 21,476 $1.2M Reduce -1.3%
CPK Chesapeake Utilities Corp. 0.01% 10,227 $1.1M Reduce -1.8%
HD Home Depot Inc. 0.01% 2,517 $966K Reduce -3.3%
LLY Eli Lilly & Co. 0.01% 1,150 $895K New
NWN Northwest Natural Holding Co. 0.01% 22,787 $848K No change
MSEX Middlesex Water Co. 0.01% 14,898 $782K No change
COST Costco Wholesale Corp. 0.01% 1,066 $781K Add +6.4%
PEP Pepsico Inc. 0.01% 4,337 $759K Reduce -18.4%
ADBE Adobe Inc. 0.01% 1,102 $556K Add +24.5%
NKE Nike Inc. Class B 0.00% 5,412 $509K Reduce -6.3%
SPGI S&P Global Inc. 0.00% 1,052 $448K Reduce -12.7%
CME Cme Group Inc. 0.00% 1,706 $367K Reduce -7.2%
BLK BlackRock Finance Inc. 0.00% 326 $272K Reduce -19.3%
WMT Walmart Inc. 0.00% 4,438 $267K Reduce -8.5%
MCO Moody's Corp. 0.00% 674 $265K Reduce -5.1%
ISRG Intuitive Surgical Inc. 0.00% 637 $254K Add +4.1%
SHOP Shopify Inc. Class A 0.00% 2,996 $231K Reduce -1.5%
UNP Union Pacific Corp. 0.00% 901 $222K Reduce -10.5%
ECL Ecolab Inc. 0.00% 926 $214K Reduce -10.8%

Show all 155 holdings

Portfolio Sells Q4 2023 → Q1 2024
EVRG Evergy Inc. Reduce -93.5% 0.10% −1.47
WEC WEC Energy Group Inc. Reduce -20.2% 2.97% −1.01
MCD McDonald's Corp. Reduce -35.8% 1.23% −0.87
LOW Lowe's Cos Inc. Reduce -36.2% 1.94% −0.83
GOOG Alphabet Inc. Class C Reduce -20.1% 2.07% −0.43
AMT American Tower Corp. Reduce -1.8% 2.39% −0.38
SRE Sempra Reduce -6.3% 2.26% −0.36
CMS CMS Energy Corp. Reduce -21.4% 1.26% −0.35
MA Mastercard Inc. Class A Reduce -14.8% 3.86% −0.33
HCA HCA Healthcare Inc. Reduce -24.3% 2.73% −0.32
NSC Norfolk Southern Corp. Reduce -14.4% 2.02% −0.26
INTU Intuit Inc. Reduce -6.9% 3.28% −0.25
CCI Crown Castle Inc. Reduce -5.7% 1.13% −0.23
V Visa Inc. Class A Reduce -8.0% 3.86% −0.22
CRM Salesforce Inc. Reduce -52.0% 0.25% −0.22
COF Capital One Financial Corp. Reduce -50.3% 0.22% −0.18
YUM Yum! Brands Inc. Reduce -4.8% 3.32% −0.11
CSX CSX Corp. Reduce -7.2% 1.59% −0.08
GOOGL Alphabet Inc. Class A Reduce -6.5% 1.38% −0.05
BKNG Booking Holdings Inc. Reduce -0.4% 0.87% −0.02
CMG Chipotle Mexican Grill Inc. Reduce -18.4% 3.79% −0.02
DUK Duke Energy Corp. Reduce -1.6% 0.30% −0.02
MDLZ Mondelez International Inc. Class A Reduce -4.9% 0.09% −0.01
AEP American Electric Power Reduce -3.9% 0.31% −0.01
SO The Southern Co. Reduce 0.0% 0.31% −0.01
AEE Ameren Corporation Reduce -1.1% 0.16% −0.01
OGE Oge Energy Corp. Reduce -1.7% 0.06% −0.00
AXP American Express Co. Reduce -21.3% 0.04% −0.00
TXNM TXNM Energy Inc. Reduce -1.2% 0.02% −0.00
ALE Allete Inc. Reduce -5.7% 0.03% −0.00
AWR American States Water Co. Reduce -0.6% 0.02% −0.00
POR Portland General Electric Co. Reduce -1.7% 0.03% −0.00
CWT California Water Service Grp Reduce -0.7% 0.02% −0.00
HTO H2O America Reduce -1.3% 0.01% −0.00
MRSH Marsh & McLennan Cos Sold out 0.00% −0.00
PEP Pepsico Inc. Reduce -18.4% 0.01% −0.00
SR Spire Inc. Reduce -1.3% 0.02% −0.00
NKE Nike Inc. Class B Reduce -6.3% 0.00% −0.00
AVA Avista Corp. Reduce -1.4% 0.02% −0.00
BKH Black Hills Corp. Reduce -1.6% 0.03% −0.00
SPGI S&P Global Inc. Reduce -12.7% 0.00% −0.00
BLK BlackRock Finance Inc. Reduce -19.3% 0.00% −0.00
ZTS Zoetis Inc. Reduce -17.6% 0.00% −0.00
CPK Chesapeake Utilities Corp. Reduce -1.8% 0.01% −0.00
CME Cme Group Inc. Reduce -7.2% 0.00% −0.00
DE Deere & Co. Reduce -19.3% 0.00% −0.00
UNP Union Pacific Corp. Reduce -10.5% 0.00% −0.00
MSCI MSCI Inc. Reduce -3.2% 0.00% −0.00
MAR Marriott International Class A Reduce -17.1% 0.00% −0.00
MCO Moody's Corp. Reduce -5.1% 0.00% −0.00

Portfolio Buys Q4 2023 → Q1 2024
META Meta Platforms Inc. Class A Add +348.5% 3.64% +3.02
CL Colgate-Palmolive Co. Add +71.4% 2.97% +1.37
AWK American Water Works Co. Inc. Add +329.1% 0.87% +0.64
UNH Unitedhealth Group Inc. Add +26.3% 4.17% +0.51
LNT Alliant Energy Corp. Add +54.0% 1.21% +0.38
ES Eversource Energy Add +27.2% 2.23% +0.34
ICE Intercontinental Exchange Inc. Add +4.1% 4.97% +0.32
D Dominion Energy Inc. Add +12.7% 2.28% +0.26
ULTA Ulta Beauty Inc. Add +21512.8% 0.17% +0.17
BRK.B Berkshire Hathaway Inc. Class B Add +34.9% 0.41% +0.14
DG Dollar General Corp. Add +26.7% 0.37% +0.10
USB US Bancorp Add +8.6% 0.27% +0.02
EXC Exelon Corp. Add +6.3% 0.30% +0.02
PEG Public Service Enterprise GP Add +1.2% 0.27% +0.02
ETR Entergy Corp. Add +5.4% 0.19% +0.01
LLY Eli Lilly & Co. New 0.01% +0.01
AGR Avangrid Inc. Add +3.3% 0.06% +0.01
PPL PPL Corp. Add +6.4% 0.17% +0.01
WTRG Essential Utilities Inc. Add +12.2% 0.08% +0.01
FE Firstenergy Corp. Add +1.8% 0.18% +0.00
NI Nisource Inc. Add +5.1% 0.10% +0.00
NWE Northwestern Energy Group Inc. Add +23.4% 0.02% +0.00
PNW Pinnacle West Capital Add +4.3% 0.07% +0.00
PG The Procter & Gamble Co. Add +2.4% 0.03% +0.00
KO The Coca-Cola Co. Add +3.6% 0.07% +0.00
OGS One Gas Inc. Add +10.6% 0.03% +0.00
SBUX Starbucks Corp. Add +14.3% 0.03% +0.00
IDA Idacorp Inc. Add +13.3% 0.04% +0.00
COST Costco Wholesale Corp. Add +6.4% 0.01% +0.00
ISRG Intuitive Surgical Inc. Add +4.1% 0.00% +0.00
EL Estee Lauder Companies Class A Add +27.9% 0.00% +0.00
YUMC Yum China Holdings Inc. New 0.00% +0.00
ADBE Adobe Inc. Add +24.5% 0.01% +0.00
HON Honeywell International Inc. Add +6.0% 0.00% 0.00
NEE Nextera Energy Inc. Add +8.9% 0.00% 0.00
TSLA Tesla Inc. Add +31.1% 0.00% 0.00
CNP Centerpoint Energy Inc. Add +4.2% 0.15% −0.00
ATO Atmos Energy Corp. Add +0.5% 0.14% −0.00
DTE DTE Energy Company Add +1.0% 0.19% −0.00
ED Consolidated Edison Inc. Add +0.6% 0.26% −0.01
AAPL Apple Inc. Add +15.8% 2.45% −0.03
SBAC SBA Communications Corp. Add +2.6% 0.19% −0.04
XEL Xcel Energy Inc. Add +7.7% 1.54% −0.18

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 78$4.5BES, AMT, XEL, CCI, SRE
Q1 2026 79$7.7BAMZN, MSFT, ES, TSM, MA
Q4 2025 80$8.2BAMZN, MSFT, ES, TSM, MA
Q3 2025 82$8.4BAMZN, MSFT, ES, TSM, MA
Q2 2025 84$8.7BMSFT, AMZN, META, ES, TSM
Q1 2025 87$8.2BMSFT, AMZN, ES, MA, META
Q4 2024 87$9.1BAMZN, MSFT, MA, ES, META
Q3 2024 117$10.0BAMZN, MSFT, META, ES, ICE
Q2 2024 154$10.5BMSFT, AMZN, ICE, UNH, META
Q1 2024 155$10.5BMSFT, AMZN, ICE, UNH, V