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Macquarie

Mar 2025 → Jun 2025 · 4 funds

Our archive holds 4 letters from Macquarie, behind 6 investment theses and positions in 51 companies. Every quote below is copied verbatim from the letter it came from.

Writes about

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4
Letters
51
Companies
14
Moves
6
Theses

4 strategies

Macquarie publishes a letter per strategy. Each one has its own page with what it holds, what it bought and what it wrote.

What they bought and sold · 14 moves

  • New positionAdvanced Micro Devices Inc.
    June 2025
    “Advanced Micro Devices Inc. (AMD) designs and manufactures semiconductors, including central processing units (CPUs), graphics processing units (GPUs), and other high-performance computing solutions for various markets like gaming, data centers, and AI.”
    Read the letter
  • ExitedThe Procter & Gamble Co.
    June 2025
    “The Procter & Gamble Co. was sold at reasonable gains.”
    Read the letter
  • New positionNetflix Inc.
    June 2025
    “We also increased our holdings within communication services via our purchase of Netflix (described below) and in materials (Vulcan Materials) while holding steady our overweights in financials, industrials, and materials.”
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  • New positionVulcan Materials Co.
    June 2025
    “We also increased our holdings within communication services via our purchase of Netflix (described below) and in materials (Vulcan Materials) while holding steady our overweights in financials, industrials, and materials.”
    Read the letter
  • ExitedU.S. Bancorp
    March 2025
    “In March, we sold the Fund’s position in U.S. Bancorp (US Bank), the fifth-largest commercial bank in the US.”
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  • New positionArcosa, Inc.
    March 2025
    “We also initiated a position in Arcosa, Inc., a basic materials company that provides infrastructure-related products and solutions.”
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  • AddedNeoGenomics, Inc.
    March 2025
    “NeoGenomics, Inc. was the largest addition in healthcare, as we sought to take advantage of weakness during the quarter.”
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  • ExitedElectronic Arts Inc.
    March 2025
    “With that, we exited the position.”
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  • New positionCharles Schwab Corp.
    March 2025
    “Proceeds from the sale of US Bank were used to purchase a position in Charles Schwab Corp. (Schwab), a provider of wealth and asset management, securities brokerage, banking, trading and research, custody, and financial advisory services, serving individual investors through its Investor Services segment and registered investment advisors (RIAs) through its Advisor Services segment.”
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  • New positionCSX Corp.
    March 2025
    “Proceeds from the sale of Honeywell were used to purchase a position in CSX Corp., one of the largest railroad owner/operators in North America.”
    Read the letter
  • New positionIDEXX Laboratories, Inc.
    March 2025
    “We took advantage of weakness in shares to start a position.”
    Read the letter
  • ExitedHoneywell International Inc.
    March 2025
    “In February, we sold the Fund’s position Honeywell International Inc., a diversified multi-industrial company that operates globally in four main segments: Aerospace, Building Automation, Industrial Automation, and Energy and Sustainability Solutions.”
    Read the letter
  • ExitedCVS Health Corp.
    March 2025
    “We sold our position in CVS Health Corp., a provider of health insurance, PBM, and retail pharmacy services.”
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  • New positionCDW Corp.
    March 2025
    “Proceeds from the sale of CVS were used to purchase a position in CDW Corp., a leading provider of IT solutions serving small business, corporate, government, education, and healthcare customers.”
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Companies held · 51

Every company Macquarie has disclosed a position in across our archive, with the letter that last mentioned it.

Theses · 6

  • Advanced Micro Devices
    June 2025

    Advanced Micro Devices Inc. is positioned to significantly increase its market share in AI GPUs by 2027, potentially rivaling industry leader NVIDIA and driving larger revenue gains than currently anticipated.

    Read the full thesis
  • IDEXX Laboratories Inc.
    March 2025

    IDEXX Laboratories Inc. is an animal health company poised for growth as the demand for veterinary services and diagnostics increases following the pandemic pet boom.

    Read the full thesis
  • Arcosa, Inc.
    March 2025

    Arcosa, Inc. is a strategically positioned basic materials company benefitting from infrastructure growth and electrical grid improvements, poised for both organic and inorganic growth while focusing on deleveraging.

    Read the full thesis
  • CDW Corp.
    March 2025

    CDW Corp. is a leading IT solutions provider well-positioned to benefit from device spending, AI adoption, and a strong capital allocation program amid a favorable valuation.

    Read the full thesis
  • Charles Schwab Corp.
    March 2025

    Charles Schwab Corp. is a leading wealth and asset management firm facing interim challenges but poised for recovery and margin improvements following strategic adjustments and cost management efforts.

    Read the full thesis
  • CSX Corp.
    March 2025

    CSX Corp. is a well-positioned North American railroad operator with attractive valuations, operational efficiencies from precision scheduled railroading, and strong cash flow attributes, despite facing challenges from a declining coal market and competition.

    Read the full thesis

Letter archive · 4

2025

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