Magellan Asset Management
Sydney, C3files as Magellan Asset Management Ltd
$4.5bn in 78 US stocks at the end of 30 June 2026. The top 10 are 45.2% of the money. It changed about 29.7% of the portfolio this quarter.
Value
$4.5bn
Stocks
78
Top 10 share
45.2%
Turnover
29.7%
What changed this quarter
New
Bought for the first time this quarter.
- Southwest Gas HoldingsSWX0.2% of the fund
- MDU Resources GroupMDU0.1% of the fund
Added
Bought more of a stock they already held.
- Xcel EnergyXEL5.1% of the fund+22%
- CMS EnergyCMS4.3% of the fund+26%
- S&P GlobalSPGI1.5% of the fund+7%
- Southern CompanySO1.3% of the fund+9%
- American Electric PowerAEP1.3% of the fund+3%
- Duke EnergyDUK1.3% of the fund+10%
- EntergyETR1.2% of the fund+3%
- NextEra EnergyNEE1.2% of the fund+10%
- ExelonEXC1.2% of the fund+5%
- Thermo Fisher ScientificTMO1.2% of the fund+27%
- Zimmer Biomet HoldingsZBH1.1% of the fund+4%
- Consolidated EdisonED1.0% of the fund+5%
- Public Service Enterprise GroupPEG1.0% of the fund+5%
- AmerenAEE0.8% of the fund+2%
- DTE EnergyDTE0.8% of the fund+3%
- Atmos EnergyATO0.7% of the fund+3%
- Centerpoint EnergyCNP0.7% of the fund+2%
- FirstenergyFE0.7% of the fund+2%
- American Water Works CompanyAWK0.7% of the fund+3%
- PPLPPL0.6% of the fund+2%
- NisourceNI0.6% of the fund+7%
- SBA CommunicationsSBAC0.5% of the fund+3%
- Pinnacle West CapitalPNW0.3% of the fund+11%
- Essential UtilitiesWTRG0.3% of the fund+8%
- OGE EnergyOGE0.3% of the fund+3%
Cut
Sold some of their stake.
- Eversource EnergyES5.6% of the fund-44%
- American TowerAMT5.1% of the fund-6%
- Crown CastleCCI4.7% of the fund-3%
- EvergyEVRG4.2% of the fund-3%
- Dominion EnergyD4.1% of the fund-3%
- MicrosoftMSFT3.8% of the fund-62%
- Taiwan Semiconductor ManufacturingTSM3.7% of the fund-71%
- Alliant EnergyLNT3.4% of the fund-2%
- Amazon.comAMZN3.3% of the fund-72%
- MastercardMA2.7% of the fund-60%
- AlphabetGOOG2.6% of the fund-19%
- Meta PlatformsMETA2.3% of the fund-65%
- Berkshire HathawayBRK-B1.6% of the fund-58%
- Union PacificUNP1.5% of the fund-2%
- NetflixNFLX1.5% of the fund-38%
- Norfolk SouthernNSC1.4% of the fund-2%
- YUM BrandsYUM1.3% of the fund-74%
- Intercontinental ExchangeICE1.1% of the fund-66%
- Dollar GeneralDG1.0% of the fund-2%
- UnitedHealth GroupUNH1.0% of the fund-86%
- CSXCSX0.9% of the fund-52%
- IntuitINTU0.9% of the fund-59%
- Booking HoldingsBKNG0.8% of the fund-34%
- VisaV0.5% of the fund-91%
- Chipotle Mexican GrillCMG0.4% of the fund-87%
Sold out
Sold their entire stake.
- BlackRockBLK-100%
- SalesforceCRM-100%
- PepsiCoPEP-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Eversource EnergyES | 5.6% | $248m | 3,437,065 | -44% |
| American TowerAMT | 5.1% | $230m | 1,406,263 | -6% |
| Xcel EnergyXEL | 5.1% | $226m | 2,818,534 | +22% |
| Crown CastleCCI | 4.7% | $211m | 2,780,296 | -3% |
| SempraSRE | 4.6% | $208m | 2,242,974 | Held |
| CMS EnergyCMS | 4.3% | $194m | 2,539,050 | +26% |
| EvergyEVRG | 4.2% | $188m | 2,173,521 | -3% |
| Dominion EnergyD | 4.1% | $184m | 2,690,485 | -3% |
| MicrosoftMSFT | 3.8% | $170m | 455,679 | -62% |
| Taiwan Semiconductor ManufacturingTSM | 3.7% | $165m | 344,465 | -71% |
| Alliant EnergyLNT | 3.4% | $152m | 1,987,533 | -2% |
| Amazon.comAMZN | 3.3% | $150m | 627,789 | -72% |
| WEC Energy GroupWEC | 3.2% | $145m | 1,238,180 | Held |
| MastercardMA | 2.7% | $122m | 236,678 | -60% |
| AlphabetGOOG | 2.6% | $117m | 330,458 | -19% |
| Meta PlatformsMETA | 2.3% | $101m | 179,071 | -65% |
| Berkshire HathawayBRK-B | 1.6% | $70m | 139,845 | -58% |
| S&P GlobalSPGI | 1.5% | $69m | 168,908 | +7% |
| Union PacificUNP | 1.5% | $68m | 251,472 | -2% |
| NetflixNFLX | 1.5% | $66m | 931,061 | -38% |
| Norfolk SouthernNSC | 1.4% | $63m | 201,346 | -2% |
| YUM BrandsYUM | 1.3% | $57m | 358,827 | -74% |
| Southern CompanySO | 1.3% | $57m | 592,268 | +9% |
| American Electric PowerAEP | 1.3% | $57m | 413,164 | +3% |
| Duke EnergyDUK | 1.3% | $56m | 442,471 | +10% |
| EntergyETR | 1.2% | $55m | 482,755 | +3% |
| NextEra EnergyNEE | 1.2% | $55m | 624,979 | +10% |
| ExelonEXC | 1.2% | $54m | 1,152,083 | +5% |
| Thermo Fisher ScientificTMO | 1.2% | $53m | 105,936 | +27% |
| Intercontinental ExchangeICE | 1.1% | $49m | 400,494 | -66% |
| Zimmer Biomet HoldingsZBH | 1.1% | $49m | 570,409 | +4% |
| Dollar GeneralDG | 1.0% | $46m | 398,171 | -2% |
| Consolidated EdisonED | 1.0% | $45m | 410,364 | +5% |
| Public Service Enterprise GroupPEG | 1.0% | $45m | 548,309 | +5% |
| UnitedHealth GroupUNH | 1.0% | $43m | 104,330 | -86% |
| CSXCSX | 0.9% | $42m | 891,356 | -52% |
| IntuitINTU | 0.9% | $39m | 148,165 | -59% |
| AmerenAEE | 0.8% | $35m | 305,654 | +2% |
| Booking HoldingsBKNG | 0.8% | $34m | 192,996 | -34% |
| DTE EnergyDTE | 0.8% | $34m | 225,684 | +3% |
| Atmos EnergyATO | 0.7% | $32m | 186,934 | +3% |
| Centerpoint EnergyCNP | 0.7% | $31m | 697,825 | +2% |
| FirstenergyFE | 0.7% | $30m | 630,371 | +2% |
| American Water Works CompanyAWK | 0.7% | $29m | 223,384 | +3% |
| PPLPPL | 0.6% | $28m | 778,473 | +2% |
| NisourceNI | 0.6% | $25m | 532,855 | +7% |
| VisaV | 0.5% | $21m | 60,505 | -91% |
| SBA CommunicationsSBAC | 0.5% | $20m | 115,963 | +3% |
| Chipotle Mexican GrillCMG | 0.4% | $17m | 506,165 | -87% |
| AlphabetGOOGL | 0.4% | $17m | 46,773 | -93% |
| Procter & GamblePG | 0.3% | $14m | 96,860 | -93% |
| Pinnacle West CapitalPNW | 0.3% | $14m | 127,654 | +11% |
| Essential UtilitiesWTRG | 0.3% | $12m | 320,787 | +8% |
| OGE EnergyOGE | 0.3% | $11m | 231,574 | +3% |
| MsciMSCI | 0.2% | $10m | 17,396 | -94% |
| IdacorpIDA | 0.2% | $9m | 58,544 | +17% |
| MedtronicMDT | 0.2% | $9m | 113,048 | -92% |
| CME GroupCME | 0.2% | $8m | 36,996 | -89% |
| Southwest Gas HoldingsSWX | 0.2% | $7m | 77,010 | New |
| Txnm EnergyTXNM | 0.1% | $7m | 116,027 | +4% |
| Black HillsBKH | 0.1% | $6m | 85,307 | +15% |
| StrykerSYK | 0.1% | $6m | 20,099 | -93% |
| Portland General ElectricPOR | 0.1% | $6m | 118,083 | +15% |
| Home DepotHD | 0.1% | $5m | 14,775 | +38% |
| Mondelez InternationalMDLZ | 0.1% | $5m | 88,741 | -12% |
| MDU Resources GroupMDU | 0.1% | $5m | 231,541 | New |
| NorthWestern Energy GroupNWE | 0.1% | $5m | 67,305 | +2% |
| ONE GasOGS | 0.1% | $5m | 59,113 | +2% |
| SpireSR | 0.1% | $5m | 57,949 | +3% |
| Coca-ColaKO | <0.1% | $3m | 41,619 | -97% |
| American States WaterAWR | <0.1% | $3m | 36,743 | Held |
| California Water Service GroupCWT | <0.1% | $3m | 61,416 | Held |
| AvistaAVA | <0.1% | $3m | 70,956 | Held |
| MGE EnergyMGEE | <0.1% | $2m | 29,683 | Held |
| Northwest Natural HoldingNWN | <0.1% | $2m | 46,167 | +5% |
| Chesapeake UtilitiesCPK | <0.1% | $2m | 17,200 | +6% |
| H2O AmericaHTO | <0.1% | $2m | 29,063 | Held |
| Middlesex WaterMSEX | <0.1% | $870,648 | 15,503 | Held |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 48.9% since 30 June 2025.
Where the money is
Utilities51.9%
Real estate10.3%
Technology8.3%
Financial services7.8%
Media & telecom6.7%
Retail & consumer5.9%
Industrials3.9%
Health care3.6%
Everyday goods1.5%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.