Magellan Asset Management Ltd
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 10, 2025), Magellan Asset Management Ltd reported 82 stock positions worth $8.4 billion. Its top holding was Amazon.com (AMZN) at 7.7% of the portfolio, followed by Microsoft (MSFT, 7.5%) and Eversource Energy (ES, 6.2%). Compared with Q2 2025, it opened 3 new positions, sold out of 5, added to 56 and reduced 23. The biggest buy was a new position in Medtronic (MDT) and the biggest sale HCA Healthcare (HCA, shares −100%).
- Most Recent 13F
- Q2 2026
- Location
- Sydney, C3
- CIK
- 0001536105
- Portfolio Value
- $8.4B (Q3 2025)
- SEC Filing
- 0001536105-25-000008 ↗ filed Nov 10, 2025
Holdings Value
Holdings 82 stocks · $8.4B
| AMZN Amazon.com Inc. | 7.69% | 2,958,237 | $649.5M | Reduce -6.2% |
| MSFT Microsoft Corp. | 7.55% | 1,230,618 | $637.4M | Reduce -12.9% |
| ES Eversource Energy | 6.24% | 7,406,785 | $526.9M | Add +6.5% |
| TSM Taiwan Semiconductor-SP ADR | 4.98% | 1,506,205 | $420.7M | Reduce -21.8% |
| MA Mastercard Inc. Class A | 4.39% | 652,209 | $371.0M | Reduce -0.7% |
| META Meta Platforms Inc. Class A | 4.02% | 462,521 | $339.7M | Reduce -27.1% |
| YUM Yum! Brands Inc. | 3.84% | 2,134,452 | $324.4M | Reduce -7.5% |
| UNH Unitedhealth Group Inc. | 3.32% | 811,526 | $280.2M | Reduce -1.4% |
| V Visa Inc. Class A | 3.08% | 760,847 | $259.7M | Reduce -13.2% |
| PG The Procter & Gamble Co. | 2.98% | 1,637,768 | $251.6M | Reduce -4.3% |
| ICE Intercontinental Exchange Inc. | 2.71% | 1,359,146 | $229.0M | Reduce -6.4% |
| GOOGL Alphabet Inc. Class A | 2.47% | 859,489 | $208.9M | Reduce -23.1% |
| SRE Sempra | 2.39% | 2,238,316 | $201.4M | Reduce -0.9% |
| INTU Intuit Inc. | 2.31% | 285,052 | $194.7M | Add +8.4% |
| MSCI MSCI Inc. | 2.30% | 341,787 | $193.9M | Add +12.1% |
| AMT American Tower Corp. | 2.29% | 1,005,151 | $193.3M | Add +20.1% |
| CMG Chipotle Mexican Grill Inc. | 2.24% | 4,827,700 | $189.2M | Reduce -1.5% |
| EVRG Evergy Inc. | 2.20% | 2,444,381 | $185.8M | Add +3.4% |
| CME Cme Group Inc. | 2.07% | 645,636 | $174.4M | Add +32.8% |
| D Dominion Energy Inc. | 2.05% | 2,826,628 | $172.9M | Reduce -22.3% |
| XEL Xcel Energy Inc. | 2.03% | 2,125,537 | $171.4M | Add +6.1% |
| SYK Stryker Corp. | 1.83% | 418,420 | $154.7M | Reduce -21.2% |
| KO The Coca-Cola Co. | 1.79% | 2,278,184 | $151.1M | Add +17.2% |
| WEC WEC Energy Group Inc. | 1.77% | 1,300,826 | $149.1M | Reduce -1.2% |
| NFLX Netflix Inc. | 1.68% | 118,566 | $142.2M | Reduce -45.6% |
| CCI Crown Castle Inc. | 1.59% | 1,394,248 | $134.5M | Add +4.7% |
| MDT Medtronic PLC | 1.50% | 1,326,614 | $126.3M | New |
| GOOG Alphabet Inc. Class C | 1.42% | 493,371 | $120.2M | Reduce -20.9% |
| CSX CSX Corp. | 1.39% | 3,293,947 | $117.0M | Add +3.6% |
| LNT Alliant Energy Corp. | 1.24% | 1,553,695 | $104.7M | Add +802.8% |
| NSC Norfolk Southern Corp. | 0.90% | 252,848 | $76.0M | Reduce -36.5% |
| DG Dollar General Corp. | 0.84% | 684,892 | $70.8M | Add +85.8% |
| UNP Union Pacific Corp. | 0.82% | 293,366 | $69.3M | New |
| BRK.B Berkshire Hathaway Inc. Class B | 0.70% | 118,392 | $59.5M | Add +44.8% |
| BKNG Booking Holdings Inc. | 0.70% | 11,021 | $59.5M | Add +29.7% |
| ZBH Zimmer Biomet Holdings Inc. | 0.70% | 600,125 | $59.1M | Add +18.6% |
| USB US Bancorp | 0.64% | 1,113,442 | $53.8M | Add +16.4% |
| TMO Thermo Fisher Scientific Inc. | 0.63% | 109,747 | $53.2M | Add +781.6% |
| NEE Nextera Energy Inc. | 0.47% | 526,245 | $39.7M | Add +12.8% |
| AEP American Electric Power | 0.46% | 341,698 | $38.4M | Add +7.0% |
| SO The Southern Co. | 0.45% | 403,257 | $38.2M | Add +13.8% |
| EXC Exelon Corp. | 0.45% | 835,097 | $37.6M | Add +10.0% |
| DUK Duke Energy Corp. | 0.44% | 300,157 | $37.1M | Add +7.9% |
| PEG Public Service Enterprise GP | 0.39% | 396,876 | $33.1M | Add +12.1% |
| ETR Entergy Corp. | 0.39% | 353,338 | $32.9M | Add +17.3% |
| ED Consolidated Edison Inc. | 0.35% | 295,762 | $29.7M | Add +7.5% |
| DTE DTE Energy Company | 0.28% | 167,232 | $23.7M | Add +17.9% |
| AEE Ameren Corporation | 0.28% | 225,722 | $23.6M | Add +7.5% |
| AWK American Water Works Co. Inc. | 0.28% | 168,182 | $23.4M | Add +12.8% |
| ATO Atmos Energy Corp. | 0.26% | 130,563 | $22.3M | Add +12.3% |
| PPL PPL Corp. | 0.26% | 580,863 | $21.6M | Add +21.4% |
| FE Firstenergy Corp. | 0.25% | 451,719 | $20.7M | Add +9.2% |
| CNP Centerpoint Energy Inc. | 0.24% | 525,149 | $20.4M | Add +19.1% |
| CMS CMS Energy Corp. | 0.21% | 239,502 | $17.5M | Add +19.4% |
| SBAC SBA Communications Corp. | 0.20% | 88,125 | $17.0M | Add +8.2% |
| NI Nisource Inc. | 0.19% | 369,164 | $16.0M | Add +7.5% |
| WTRG Essential Utilities Inc. | 0.10% | 214,023 | $8.5M | Add +7.4% |
| PNW Pinnacle West Capital | 0.09% | 88,249 | $7.9M | Add +7.8% |
| OGE Oge Energy Corp. | 0.08% | 142,776 | $6.6M | Add +7.4% |
| SPGI S&P Global Inc. | 0.06% | 10,534 | $5.1M | Add +71.8% |
| IDA Idacorp Inc. | 0.06% | 38,511 | $5.1M | Add +9.5% |
| MDLZ Mondelez International Inc. Class A | 0.05% | 67,356 | $4.2M | Add +17.6% |
| OGS One Gas Inc. | 0.04% | 44,188 | $3.6M | Add +8.9% |
| SR Spire Inc. | 0.04% | 43,042 | $3.5M | Add +5.8% |
| TXNM TXNM Energy Inc. | 0.04% | 60,864 | $3.4M | Add +6.1% |
| POR Portland General Electric Co. | 0.04% | 77,843 | $3.4M | Add +5.0% |
| BKH Black Hills Corp. | 0.04% | 48,098 | $3.0M | Add +5.6% |
| ALE Allete Inc. | 0.03% | 44,345 | $2.9M | Add +7.0% |
| NWE Northwestern Energy Group Inc. | 0.03% | 50,139 | $2.9M | Add +4.8% |
| CWT California Water Service Grp | 0.03% | 46,034 | $2.1M | Add +5.8% |
| AWR American States Water Co. filed as AMER STATES WTR CO | 0.03% | 28,804 | $2.1M | Add +8.4% |
| MGEE Mge Energy Inc. | 0.02% | 23,443 | $2.0M | Add +8.5% |
| AVA Avista Corp. | 0.02% | 51,953 | $2.0M | Add +2.9% |
| CPK Chesapeake Utilities Corp. | 0.02% | 12,272 | $1.7M | Add +2.2% |
| HTO H2O America | 0.01% | 21,564 | $1.1M | Add +4.0% |
| NWN Northwest Natural Holding Co. | 0.01% | 22,236 | $999K | Add +2.6% |
| MSEX Middlesex Water Co. | 0.01% | 12,416 | $672K | Add +3.0% |
| CRM Salesforce Inc. | 0.00% | 447 | $106K | Reduce -99.4% |
| HCA HCA Healthcare Inc. | 0.00% | 179 | $76K | Reduce -100.0% |
| BLK BlackRock Inc. | 0.00% | 65 | $76K | Reduce -9.7% |
| HD Home Depot Inc. | 0.00% | 180 | $73K | New |
| PEP Pepsico Inc. | 0.00% | 494 | $69K | Reduce -36.9% |
Portfolio Sells Q2 2025 → Q3 2025
| HCA HCA Healthcare Inc. | Reduce -100.0% | 0.00% | −1.78 |
| NFLX Netflix Inc. | Reduce -45.6% | 1.68% | −1.65 |
| META Meta Platforms Inc. Class A | Reduce -27.1% | 4.02% | −1.33 |
| NVO Novo-Nordisk A/S-Spons ADR | Sold out | 0.00% | −1.32 |
| CMG Chipotle Mexican Grill Inc. | Reduce -1.5% | 2.24% | −0.90 |
| SYK Stryker Corp. | Reduce -21.2% | 1.83% | −0.57 |
| MSFT Microsoft Corp. | Reduce -12.9% | 7.55% | −0.49 |
| V Visa Inc. Class A | Reduce -13.2% | 3.08% | −0.48 |
| ULTA Ulta Beauty Inc. | Sold out | 0.00% | −0.34 |
| ICE Intercontinental Exchange Inc. | Reduce -6.4% | 2.71% | −0.33 |
| D Dominion Energy Inc. | Reduce -22.3% | 2.05% | −0.30 |
| MELI MercadoLibre Inc. | Sold out | 0.00% | −0.29 |
| NSC Norfolk Southern Corp. | Reduce -36.5% | 0.90% | −0.27 |
| MS Morgan Stanley | Sold out | 0.00% | −0.27 |
| CRM Salesforce Inc. | Reduce -99.4% | 0.00% | −0.24 |
| AMZN Amazon.com Inc. | Reduce -6.2% | 7.69% | −0.22 |
| YUMC Yum China Holdings Inc. | Sold out | 0.00% | −0.21 |
| PG The Procter & Gamble Co. | Reduce -4.3% | 2.98% | −0.13 |
| YUM Yum! Brands Inc. | Reduce -7.5% | 3.84% | −0.07 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -21.8% | 4.98% | −0.00 |
| PEP Pepsico Inc. | Reduce -36.9% | 0.00% | −0.00 |
| BLK BlackRock Inc. | Reduce -9.7% | 0.00% | 0.00 |
| GOOG Alphabet Inc. Class C | Reduce -20.9% | 1.42% | +0.16 |
| MA Mastercard Inc. Class A | Reduce -0.7% | 4.39% | +0.18 |
| WEC WEC Energy Group Inc. | Reduce -1.2% | 1.77% | +0.20 |
| GOOGL Alphabet Inc. Class A | Reduce -23.1% | 2.47% | +0.22 |
| UNH Unitedhealth Group Inc. | Reduce -1.4% | 3.32% | +0.38 |
| SRE Sempra | Reduce -0.9% | 2.39% | +0.43 |
Portfolio Buys Q2 2025 → Q3 2025
| MDT Medtronic PLC | New | 1.50% | +1.50 |
| ES Eversource Energy | Add +6.5% | 6.24% | +1.18 |
| LNT Alliant Energy Corp. | Add +802.8% | 1.24% | +1.12 |
| UNP Union Pacific Corp. | New | 0.82% | +0.82 |
| TMO Thermo Fisher Scientific Inc. | Add +781.6% | 0.63% | +0.57 |
| CME Cme Group Inc. | Add +32.8% | 2.07% | +0.53 |
| XEL Xcel Energy Inc. | Add +6.1% | 2.03% | +0.47 |
| DG Dollar General Corp. | Add +85.8% | 0.84% | +0.36 |
| EVRG Evergy Inc. | Add +3.4% | 2.20% | +0.34 |
| MSCI MSCI Inc. | Add +12.1% | 2.30% | +0.29 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +44.8% | 0.70% | +0.25 |
| KO The Coca-Cola Co. | Add +17.2% | 1.79% | +0.22 |
| CSX CSX Corp. | Add +3.6% | 1.39% | +0.20 |
| AMT American Tower Corp. | Add +20.1% | 2.29% | +0.17 |
| ZBH Zimmer Biomet Holdings Inc. | Add +18.6% | 0.70% | +0.17 |
| USB US Bancorp | Add +16.4% | 0.64% | +0.14 |
| BKNG Booking Holdings Inc. | Add +29.7% | 0.70% | +0.14 |
| ETR Entergy Corp. | Add +17.3% | 0.39% | +0.10 |
| NEE Nextera Energy Inc. | Add +12.8% | 0.47% | +0.10 |
| SO The Southern Co. | Add +13.8% | 0.45% | +0.08 |
| AEP American Electric Power | Add +7.0% | 0.46% | +0.08 |
| PPL PPL Corp. | Add +21.4% | 0.26% | +0.07 |
| EXC Exelon Corp. | Add +10.0% | 0.45% | +0.07 |
| DTE DTE Energy Company | Add +17.9% | 0.28% | +0.07 |
| DUK Duke Energy Corp. | Add +7.9% | 0.44% | +0.06 |
| ATO Atmos Energy Corp. | Add +12.3% | 0.26% | +0.06 |
| CNP Centerpoint Energy Inc. | Add +19.1% | 0.24% | +0.06 |
| FE Firstenergy Corp. | Add +9.2% | 0.25% | +0.05 |
| PEG Public Service Enterprise GP | Add +12.1% | 0.39% | +0.05 |
| CMS CMS Energy Corp. | Add +19.4% | 0.21% | +0.05 |
| AEE Ameren Corporation | Add +7.5% | 0.28% | +0.05 |
| AWK American Water Works Co. Inc. | Add +12.8% | 0.28% | +0.04 |
| ED Consolidated Edison Inc. | Add +7.5% | 0.35% | +0.04 |
| NI Nisource Inc. | Add +7.5% | 0.19% | +0.03 |
| CCI Crown Castle Inc. | Add +4.7% | 1.59% | +0.03 |
| SPGI S&P Global Inc. | Add +71.8% | 0.06% | +0.02 |
| WTRG Essential Utilities Inc. | Add +7.4% | 0.10% | +0.02 |
| IDA Idacorp Inc. | Add +9.5% | 0.06% | +0.01 |
| OGE Oge Energy Corp. | Add +7.4% | 0.08% | +0.01 |
| PNW Pinnacle West Capital | Add +7.8% | 0.09% | +0.01 |
| OGS One Gas Inc. | Add +8.9% | 0.04% | +0.01 |
| SR Spire Inc. | Add +5.8% | 0.04% | +0.01 |
| NWE Northwestern Energy Group Inc. | Add +4.8% | 0.03% | +0.01 |
| POR Portland General Electric Co. | Add +5.0% | 0.04% | +0.01 |
| BKH Black Hills Corp. | Add +5.6% | 0.04% | +0.01 |
| MDLZ Mondelez International Inc. Class A | Add +17.6% | 0.05% | +0.01 |
| ALE Allete Inc. | Add +7.0% | 0.03% | +0.00 |
| TXNM TXNM Energy Inc. | Add +6.1% | 0.04% | +0.00 |
| CPK Chesapeake Utilities Corp. | Add +2.2% | 0.02% | +0.00 |
| CWT California Water Service Grp | Add +5.8% | 0.03% | +0.00 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 78 | $4.5B | ES, AMT, XEL, CCI, SRE |
| Q1 2026 | 79 | $7.7B | AMZN, MSFT, ES, TSM, MA |
| Q4 2025 | 80 | $8.2B | AMZN, MSFT, ES, TSM, MA |
| Q3 2025 | 82 | $8.4B | AMZN, MSFT, ES, TSM, MA |
| Q2 2025 | 84 | $8.7B | MSFT, AMZN, META, ES, TSM |
| Q1 2025 | 87 | $8.2B | MSFT, AMZN, ES, MA, META |
| Q4 2024 | 87 | $9.1B | AMZN, MSFT, MA, ES, META |
| Q3 2024 | 117 | $10.0B | AMZN, MSFT, META, ES, ICE |
| Q2 2024 | 154 | $10.5B | MSFT, AMZN, ICE, UNH, META |
| Q1 2024 | 155 | $10.5B | MSFT, AMZN, ICE, UNH, V |