diff --git a/include/asm/fstack.hpp b/include/asm/fstack.hpp
index 16a6545e..6b6e0e93 100644
--- a/include/asm/fstack.hpp
+++ b/include/asm/fstack.hpp
@@ -61,7 +61,7 @@ std::optional<std::string> fstk_FindFile(std::string const &path);
 
 bool yywrap();
 void fstk_RunInclude(std::string const &path);
-void fstk_RunMacro(std::string const &macroName, MacroArgs &args);
+void fstk_RunMacro(std::string const &macroName, std::shared_ptr<MacroArgs> args);
 void fstk_RunRept(uint32_t count, int32_t reptLineNo, char const *body, size_t size);
 void fstk_RunFor(
     std::string const &symName,
diff --git a/include/asm/macro.hpp b/include/asm/macro.hpp
index a758460a..a70203c9 100644
--- a/include/asm/macro.hpp
+++ b/include/asm/macro.hpp
@@ -15,12 +15,12 @@ struct MacroArgs {
 	void append(std::shared_ptr<std::string> arg);
 };
 
-MacroArgs *macro_GetCurrentArgs();
-void macro_UseNewArgs(MacroArgs *args);
+bool macro_HasCurrentArgs();
+std::shared_ptr<MacroArgs> macro_GetCurrentArgs();
+void macro_UseNewArgs(std::shared_ptr<MacroArgs> args);
+uint32_t macro_NbArgs();
 std::shared_ptr<std::string> macro_GetArg(uint32_t i);
 std::shared_ptr<std::string> macro_GetAllArgs();
-
 void macro_ShiftCurrentArgs(int32_t count);
-uint32_t macro_NbArgs();
 
 #endif // RGBDS_MACRO_H
diff --git a/src/asm/fstack.cpp b/src/asm/fstack.cpp
index 2b557be8..ff6b54f1 100644
--- a/src/asm/fstack.cpp
+++ b/src/asm/fstack.cpp
@@ -35,7 +35,7 @@ struct Context {
 	// Note that several contexts can share the same unique ID (since `INCLUDE` preserves its
 	// parent's, and likewise "back-propagates" a unique ID if requested), hence using `shared_ptr`.
 	std::shared_ptr<std::string> uniqueIDStr;
-	MacroArgs *macroArgs = nullptr; // Macro args are *saved* here
+	std::shared_ptr<MacroArgs> macroArgs = nullptr; // Macro args are *saved* here
 	uint32_t nbReptIters = 0;
 	bool isForLoop = false;
 	int32_t forValue = 0;
@@ -285,7 +285,7 @@ static void runPreIncludeFile() {
 	lexer_SetState(&context.lexerState);
 }
 
-void fstk_RunMacro(std::string const &macroName, MacroArgs &args) {
+void fstk_RunMacro(std::string const &macroName, std::shared_ptr<MacroArgs> args) {
 	Symbol *macro = sym_FindExactSymbol(macroName);
 
 	if (!macro) {
@@ -325,7 +325,7 @@ void fstk_RunMacro(std::string const &macroName, MacroArgs &args) {
 	    context.lexerState, "MACRO", macroView->data(), macroView->size(), macro->fileLine
 	);
 	lexer_SetStateAtEOL(&context.lexerState);
-	macro_UseNewArgs(&args);
+	macro_UseNewArgs(args);
 }
 
 static bool newReptContext(int32_t reptLineNo, char const *body, size_t size) {
diff --git a/src/asm/macro.cpp b/src/asm/macro.cpp
index 9d10a08e..b3fd9301 100644
--- a/src/asm/macro.cpp
+++ b/src/asm/macro.cpp
@@ -12,7 +12,7 @@
 
 #define MAXMACROARGS 99999
 
-static MacroArgs *macroArgs = nullptr;
+static std::shared_ptr<MacroArgs> macroArgs = nullptr;
 
 void MacroArgs::append(std::shared_ptr<std::string> arg) {
 	if (arg->empty())
@@ -22,14 +22,22 @@ void MacroArgs::append(std::shared_ptr<std::string> arg) {
 	args.push_back(arg);
 }
 
-MacroArgs *macro_GetCurrentArgs() {
+bool macro_HasCurrentArgs() {
+	return macroArgs != nullptr;
+}
+
+std::shared_ptr<MacroArgs> macro_GetCurrentArgs() {
 	return macroArgs;
 }
 
-void macro_UseNewArgs(MacroArgs *args) {
+void macro_UseNewArgs(std::shared_ptr<MacroArgs> args) {
 	macroArgs = args;
 }
 
+uint32_t macro_NbArgs() {
+	return macroArgs->args.size() - macroArgs->shift;
+}
+
 std::shared_ptr<std::string> macro_GetArg(uint32_t i) {
 	if (!macroArgs)
 		return nullptr;
@@ -83,7 +91,3 @@ void macro_ShiftCurrentArgs(int32_t count) {
 		macroArgs->shift += count;
 	}
 }
-
-uint32_t macro_NbArgs() {
-	return macroArgs->args.size() - macroArgs->shift;
-}
diff --git a/src/asm/parser.y b/src/asm/parser.y
index 8f32fb96..b680a04d 100644
--- a/src/asm/parser.y
+++ b/src/asm/parser.y
@@ -252,7 +252,7 @@
 %type <bool> capture_macro
 
 %type <SectionModifier> sect_mod
-%type <MacroArgs *> macro_args
+%type <std::shared_ptr<MacroArgs>> macro_args
 
 %type <AlignmentSpec> align_spec
 
@@ -512,18 +512,16 @@ macro:
 		// Parsing 'macroargs' will restore the lexer's normal mode
 		lexer_SetMode(LEXER_RAW);
 	} macro_args {
-		fstk_RunMacro($1, *$3);
+		fstk_RunMacro($1, $3);
 	}
 ;
 
 macro_args:
 	%empty {
-		$$ = new (std::nothrow) MacroArgs();
-		if (!$$)
-			fatalerror("Failed to allocate memory for macro arguments: %s\n", strerror(errno));
+		$$ = std::make_shared<MacroArgs>();
 	}
 	| macro_args STRING {
-		$$ = $1;
+		$$ = std::move($1);
 		$$->append(std::make_shared<std::string>($2));
 	}
 ;
diff --git a/src/asm/symbol.cpp b/src/asm/symbol.cpp
index 2e0bc798..65652800 100644
--- a/src/asm/symbol.cpp
+++ b/src/asm/symbol.cpp
@@ -43,7 +43,7 @@ void sym_ForEach(void (*callback)(Symbol &)) {
 }
 
 static int32_t Callback_NARG() {
-	if (!macro_GetCurrentArgs()) {
+	if (!macro_HasCurrentArgs()) {
 		error("_NARG does not make sense outside of a macro\n");
 		return 0;
 	}
@@ -147,7 +147,7 @@ Symbol *sym_FindScopedValidSymbol(std::string const &symName) {
 		return nullptr;
 	}
 	// `_NARG` has no value outside a macro
-	if (sym == _NARGSymbol && !macro_GetCurrentArgs()) {
+	if (sym == _NARGSymbol && !macro_HasCurrentArgs()) {
 		return nullptr;
 	}
 	return sym;