Magellan Asset Management Ltd
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 11, 2026), Magellan Asset Management Ltd reported 80 stock positions worth $8.2 billion. Its top holding was Amazon.com (AMZN) at 7.8% of the portfolio, followed by Microsoft (MSFT, 7.4%) and Eversource Energy (ES, 5.7%). Compared with Q3 2025, it sold out of 2, added to 49 and reduced 27. The biggest buy was S&P Global (SPGI, shares +733%) and the biggest sale Eversource Energy (ES, shares −6%).
- Most Recent 13F
- Q2 2026
- Location
- Sydney, C3
- CIK
- 0001536105
- Portfolio Value
- $8.2B (Q4 2025)
- SEC Filing
- 0001536105-26-000004 ↗ filed Feb 11, 2026
Holdings Value
Holdings 80 stocks · $8.2B
| AMZN Amazon.com Inc. | 7.80% | 2,778,692 | $641.4M | Reduce -6.1% |
| MSFT Microsoft Corp. | 7.43% | 1,263,231 | $610.9M | Add +2.6% |
| ES Eversource Energy | 5.72% | 6,989,415 | $470.6M | Reduce -5.6% |
| TSM Taiwan Semiconductor-SP ADR | 5.18% | 1,401,158 | $425.8M | Reduce -7.0% |
| MA Mastercard Inc. Class A | 4.38% | 631,398 | $360.5M | Reduce -3.2% |
| META Meta Platforms Inc. Class A | 3.76% | 467,995 | $308.9M | Add +1.2% |
| YUM Yum! Brands Inc. | 3.66% | 1,988,118 | $300.8M | Reduce -6.9% |
| UNH Unitedhealth Group Inc. | 3.26% | 811,738 | $268.0M | Add +0.0% |
| V Visa Inc. Class A | 3.03% | 711,707 | $249.6M | Reduce -6.5% |
| PG The Procter & Gamble Co. | 2.86% | 1,642,678 | $235.4M | Add +0.3% |
| ICE Intercontinental Exchange Inc. | 2.48% | 1,259,320 | $204.0M | Reduce -7.3% |
| INTU Intuit Inc. | 2.46% | 305,521 | $202.4M | Add +7.2% |
| GOOGL Alphabet Inc. Class A | 2.45% | 644,809 | $201.8M | Reduce -25.0% |
| SRE Sempra | 2.33% | 2,166,850 | $191.3M | Reduce -3.2% |
| AMT American Tower Corp. | 2.29% | 1,071,779 | $188.2M | Add +6.6% |
| MSCI MSCI Inc. | 2.21% | 317,580 | $182.2M | Reduce -7.1% |
| CME Cme Group Inc. | 2.16% | 652,160 | $178.1M | Add +1.0% |
| EVRG Evergy Inc. | 2.12% | 2,409,310 | $174.7M | Reduce -1.4% |
| D Dominion Energy Inc. | 2.01% | 2,815,414 | $165.0M | Reduce -0.4% |
| CCI Crown Castle Inc. | 1.93% | 1,790,344 | $159.1M | Add +28.4% |
| XEL Xcel Energy Inc. | 1.90% | 2,111,509 | $156.0M | Reduce -0.7% |
| NFLX Netflix Inc. | 1.86% | 1,636,208 | $153.4M | Add +38.0% |
| KO The Coca-Cola Co. | 1.82% | 2,138,440 | $149.5M | Reduce -6.1% |
| CMG Chipotle Mexican Grill Inc. | 1.80% | 4,001,695 | $148.1M | Reduce -17.1% |
| GOOG Alphabet Inc. Class C | 1.77% | 463,264 | $145.4M | Reduce -6.1% |
| LNT Alliant Energy Corp. | 1.72% | 2,180,425 | $141.7M | Add +40.3% |
| MDT Medtronic PLC | 1.72% | 1,472,858 | $141.5M | Add +11.0% |
| WEC WEC Energy Group Inc. | 1.65% | 1,285,113 | $135.5M | Reduce -1.2% |
| SYK Stryker Corp. | 1.45% | 338,305 | $118.9M | Reduce -19.1% |
| CSX CSX Corp. | 1.42% | 3,216,069 | $116.6M | Reduce -2.4% |
| DG Dollar General Corp. | 0.88% | 545,445 | $72.4M | Reduce -20.4% |
| UNP Union Pacific Corp. | 0.81% | 286,438 | $66.3M | Reduce -2.4% |
| NSC Norfolk Southern Corp. | 0.80% | 229,244 | $66.2M | Reduce -9.3% |
| BKNG Booking Holdings Inc. | 0.73% | 11,230 | $60.1M | Add +1.9% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.72% | 117,846 | $59.2M | Reduce -0.5% |
| ZBH Zimmer Biomet Holdings Inc. | 0.70% | 636,734 | $57.3M | Add +6.1% |
| USB US Bancorp | 0.68% | 1,048,050 | $55.9M | Reduce -5.9% |
| SPGI S&P Global Inc. | 0.56% | 87,710 | $45.8M | Add +732.6% |
| TMO Thermo Fisher Scientific Inc. | 0.53% | 75,582 | $43.8M | Reduce -31.1% |
| NEE Nextera Energy Inc. | 0.48% | 491,469 | $39.5M | Reduce -6.6% |
| DUK Duke Energy Corp. | 0.48% | 336,279 | $39.4M | Add +12.0% |
| SO The Southern Co. | 0.48% | 450,612 | $39.3M | Add +11.7% |
| AEP American Electric Power | 0.48% | 339,933 | $39.2M | Reduce -0.5% |
| EXC Exelon Corp. | 0.46% | 862,916 | $37.6M | Add +3.3% |
| ETR Entergy Corp. | 0.42% | 370,955 | $34.3M | Add +5.0% |
| PEG Public Service Enterprise GP | 0.41% | 418,554 | $33.6M | Add +5.5% |
| ED Consolidated Edison Inc. | 0.38% | 313,902 | $31.2M | Add +6.1% |
| ATO Atmos Energy Corp. | 0.28% | 138,554 | $23.2M | Add +6.1% |
| AWK American Water Works Co. Inc. | 0.28% | 177,479 | $23.2M | Add +5.5% |
| AEE Ameren Corporation | 0.28% | 228,779 | $22.8M | Add +1.4% |
| DTE DTE Energy Company | 0.27% | 169,278 | $21.8M | Add +1.2% |
| CNP Centerpoint Energy Inc. | 0.26% | 553,939 | $21.2M | Add +5.5% |
| FE Firstenergy Corp. | 0.26% | 473,459 | $21.2M | Add +4.8% |
| PPL PPL Corp. | 0.25% | 595,657 | $20.9M | Add +2.5% |
| SBAC SBA Communications Corp. | 0.22% | 94,029 | $18.2M | Add +6.7% |
| CMS CMS Energy Corp. | 0.21% | 252,895 | $17.7M | Add +5.6% |
| NI Nisource Inc. | 0.20% | 399,089 | $16.7M | Add +8.1% |
| WTRG Essential Utilities Inc. | 0.10% | 225,280 | $8.6M | Add +5.3% |
| PNW Pinnacle West Capital | 0.10% | 92,503 | $8.2M | Add +4.8% |
| OGE Oge Energy Corp. | 0.08% | 150,913 | $6.4M | Add +5.7% |
| MDLZ Mondelez International Inc. Class A | 0.07% | 107,347 | $5.8M | Add +59.4% |
| IDA Idacorp Inc. | 0.06% | 40,451 | $5.1M | Add +5.0% |
| POR Portland General Electric Co. | 0.05% | 82,806 | $4.0M | Add +6.4% |
| SR Spire Inc. | 0.05% | 46,165 | $3.8M | Add +7.3% |
| OGS One Gas Inc. | 0.05% | 48,846 | $3.8M | Add +10.5% |
| TXNM TXNM Energy Inc. | 0.05% | 63,543 | $3.7M | Add +4.4% |
| HD Home Depot Inc. | 0.04% | 10,401 | $3.6M | Add +5678.3% |
| BKH Black Hills Corp. | 0.04% | 51,532 | $3.6M | Add +7.1% |
| NWE Northwestern Energy Group Inc. | 0.04% | 52,410 | $3.4M | Add +4.5% |
| AWR American States Water Co. filed as AMER STATES WTR CO | 0.03% | 30,571 | $2.2M | Add +6.1% |
| CWT California Water Service Grp | 0.03% | 48,734 | $2.1M | Add +5.9% |
| AVA Avista Corp. | 0.03% | 54,769 | $2.1M | Add +5.4% |
| MGEE Mge Energy Inc. | 0.02% | 23,793 | $1.9M | Add +1.5% |
| NWN Northwest Natural Holding Co. | 0.02% | 35,252 | $1.6M | Add +58.5% |
| CPK Chesapeake Utilities Corp. | 0.02% | 13,083 | $1.6M | Add +6.6% |
| HTO H2O America | 0.01% | 21,849 | $1.1M | Add +1.3% |
| MSEX Middlesex Water Co. | 0.01% | 12,416 | $626K | No change |
| CRM Salesforce Inc. | 0.00% | 447 | $118K | No change |
| PEP Pepsico Inc. | 0.00% | 494 | $71K | No change |
| BLK BlackRock Inc. | 0.00% | 65 | $70K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| ES Eversource Energy | Reduce -5.6% | 5.72% | −0.52 |
| CMG Chipotle Mexican Grill Inc. | Reduce -17.1% | 1.80% | −0.44 |
| SYK Stryker Corp. | Reduce -19.1% | 1.45% | −0.39 |
| ICE Intercontinental Exchange Inc. | Reduce -7.3% | 2.48% | −0.23 |
| YUM Yum! Brands Inc. | Reduce -6.9% | 3.66% | −0.19 |
| XEL Xcel Energy Inc. | Reduce -0.7% | 1.90% | −0.13 |
| WEC WEC Energy Group Inc. | Reduce -1.2% | 1.65% | −0.12 |
| TMO Thermo Fisher Scientific Inc. | Reduce -31.1% | 0.53% | −0.10 |
| NSC Norfolk Southern Corp. | Reduce -9.3% | 0.80% | −0.10 |
| MSCI MSCI Inc. | Reduce -7.1% | 2.21% | −0.08 |
| EVRG Evergy Inc. | Reduce -1.4% | 2.12% | −0.08 |
| SRE Sempra | Reduce -3.2% | 2.33% | −0.06 |
| D Dominion Energy Inc. | Reduce -0.4% | 2.01% | −0.04 |
| V Visa Inc. Class A | Reduce -6.5% | 3.03% | −0.04 |
| ALE Allete Inc. | Sold out | 0.00% | −0.03 |
| GOOGL Alphabet Inc. Class A | Reduce -25.0% | 2.45% | −0.02 |
| UNP Union Pacific Corp. | Reduce -2.4% | 0.81% | −0.02 |
| MA Mastercard Inc. Class A | Reduce -3.2% | 4.38% | −0.01 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −0.00 |
| NEE Nextera Energy Inc. | Reduce -6.6% | 0.48% | +0.01 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.5% | 0.72% | +0.02 |
| AEP American Electric Power | Reduce -0.5% | 0.48% | +0.02 |
| KO The Coca-Cola Co. | Reduce -6.1% | 1.82% | +0.03 |
| CSX CSX Corp. | Reduce -2.4% | 1.42% | +0.03 |
| DG Dollar General Corp. | Reduce -20.4% | 0.88% | +0.04 |
| USB US Bancorp | Reduce -5.9% | 0.68% | +0.04 |
| AMZN Amazon.com Inc. | Reduce -6.1% | 7.80% | +0.10 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -7.0% | 5.18% | +0.19 |
| GOOG Alphabet Inc. Class C | Reduce -6.1% | 1.77% | +0.34 |
Portfolio Buys Q3 2025 → Q4 2025
| SPGI S&P Global Inc. | Add +732.6% | 0.56% | +0.50 |
| LNT Alliant Energy Corp. | Add +40.3% | 1.72% | +0.48 |
| CCI Crown Castle Inc. | Add +28.4% | 1.93% | +0.34 |
| MDT Medtronic PLC | Add +11.0% | 1.72% | +0.22 |
| NFLX Netflix Inc. | Add +38.0% | 1.86% | +0.18 |
| INTU Intuit Inc. | Add +7.2% | 2.46% | +0.15 |
| CME Cme Group Inc. | Add +1.0% | 2.16% | +0.10 |
| HD Home Depot Inc. | Add +5678.3% | 0.04% | +0.04 |
| DUK Duke Energy Corp. | Add +12.0% | 0.48% | +0.04 |
| ED Consolidated Edison Inc. | Add +6.1% | 0.38% | +0.03 |
| ETR Entergy Corp. | Add +5.0% | 0.42% | +0.03 |
| BKNG Booking Holdings Inc. | Add +1.9% | 0.73% | +0.03 |
| SO The Southern Co. | Add +11.7% | 0.48% | +0.03 |
| MDLZ Mondelez International Inc. Class A | Add +59.4% | 0.07% | +0.02 |
| SBAC SBA Communications Corp. | Add +6.7% | 0.22% | +0.02 |
| ATO Atmos Energy Corp. | Add +6.1% | 0.28% | +0.02 |
| CNP Centerpoint Energy Inc. | Add +5.5% | 0.26% | +0.02 |
| PEG Public Service Enterprise GP | Add +5.5% | 0.41% | +0.02 |
| NI Nisource Inc. | Add +8.1% | 0.20% | +0.01 |
| FE Firstenergy Corp. | Add +4.8% | 0.26% | +0.01 |
| EXC Exelon Corp. | Add +3.3% | 0.46% | +0.01 |
| BKH Black Hills Corp. | Add +7.1% | 0.04% | +0.01 |
| NWN Northwest Natural Holding Co. | Add +58.5% | 0.02% | +0.01 |
| POR Portland General Electric Co. | Add +6.4% | 0.05% | +0.01 |
| CMS CMS Energy Corp. | Add +5.6% | 0.21% | +0.01 |
| NWE Northwestern Energy Group Inc. | Add +4.5% | 0.04% | +0.01 |
| PNW Pinnacle West Capital | Add +4.8% | 0.10% | +0.01 |
| SR Spire Inc. | Add +7.3% | 0.05% | +0.00 |
| TXNM TXNM Energy Inc. | Add +4.4% | 0.05% | +0.00 |
| AWK American Water Works Co. Inc. | Add +5.5% | 0.28% | +0.00 |
| WTRG Essential Utilities Inc. | Add +5.3% | 0.10% | +0.00 |
| OGS One Gas Inc. | Add +10.5% | 0.05% | +0.00 |
| AVA Avista Corp. | Add +5.4% | 0.03% | +0.00 |
| IDA Idacorp Inc. | Add +5.0% | 0.06% | +0.00 |
| AWR American States Water Co. | Add +6.1% | 0.03% | +0.00 |
| CWT California Water Service Grp | Add +5.9% | 0.03% | +0.00 |
| HTO H2O America | Add +1.3% | 0.01% | +0.00 |
| CPK Chesapeake Utilities Corp. | Add +6.6% | 0.02% | +0.00 |
| OGE Oge Energy Corp. | Add +5.7% | 0.08% | +0.00 |
| MGEE Mge Energy Inc. | Add +1.5% | 0.02% | −0.00 |
| AEE Ameren Corporation | Add +1.4% | 0.28% | −0.00 |
| AMT American Tower Corp. | Add +6.6% | 2.29% | −0.00 |
| PPL PPL Corp. | Add +2.5% | 0.25% | −0.00 |
| ZBH Zimmer Biomet Holdings Inc. | Add +6.1% | 0.70% | −0.00 |
| DTE DTE Energy Company | Add +1.2% | 0.27% | −0.01 |
| UNH Unitedhealth Group Inc. | Add +0.0% | 3.26% | −0.06 |
| PG The Procter & Gamble Co. | Add +0.3% | 2.86% | −0.12 |
| MSFT Microsoft Corp. | Add +2.6% | 7.43% | −0.12 |
| META Meta Platforms Inc. Class A | Add +1.2% | 3.76% | −0.27 |
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 |