MARATHON ASSET MANAGEMENT LLP

CIK

1040592

Location

London, X0

Portfolio Value

Mid $6,543,166,189

Diversification

Diversified

Filing Date

Global Rank

#432 / 5,928 ▲ 11 · as of Jun 2021

Top Industry

Insurance - Property & Casualty 6.9%

3Y Alpha vs SPY

-7.7%

Period ended 5 years ago

Filed Jul 21, 2021 · 4y

6 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+52.4%

SPY

+76.5%

Annualised alpha

-5.8%

Max drawdown

−13.9%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

81 positions · as of Jun 30, 2021 · Δ vs Mar 31, 2021

Top Position

4.7%

−0.1 pts

Top 5

20.4%

+1.2 pts

Top 10

34.2%

+1.3 pts

HHI

214

Diversified+19

Portfolio Trend

6 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2021

Sector	% Portfolio	Value	Positions
Financial Services	21.3%	$1,395,442,982	17
Consumer Cyclical	17.6%	$1,149,527,471	10
Technology	13.7%	$895,111,821	8
Consumer Defensive	12.8%	$837,692,635	9
Communication Services	10.8%	$706,819,123	11
Healthcare	10.7%	$700,953,006	8
Industrials	9.9%	$646,464,052	10
Basic Materials	1.2%	$81,645,506	3
Energy	1.1%	$70,295,119	2
Real Estate	0.9%	$59,214,474	3

Last Quarter's Activity

Export CSV

Jun 30, 2021 vs Mar 31, 2021

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
CNQ	CANADIAN NATURAL RESOURCES Ltd	+1,706,074	3,254,298	$57,818,787
TJX	Tjx Companies Inc /De/	+1,148,144	2,177,959	$146,837,995
FAST	Fastenal Co	+650,250	1,849,576	$48,088,976
PGR	Progressive Corp/Oh/	+549,349	1,045,967	$102,724,419
KMB	Kimberly Clark Corp	+499,980	951,658	$127,312,807
PCAR	Paccar Inc	+431,978	818,559	$48,704,260
PEP	Pepsico Inc	+368,666	700,903	$103,852,797
TXN	Texas Instruments Inc	+353,774	1,247,250	$239,846,175
KMX	Carmax Inc	+334,396	1,069,676	$138,148,655
BRK-B	Berkshire Hathaway Inc	+332,882	655,688	$182,228,808
EA	Electronic Arts Inc.	+314,279	956,876	$137,627,475
TRV	Travelers Companies, Inc.	+258,798	1,200,258	$179,690,625
OMC	Omnicom Group Inc.	+258,562	416,935	$33,350,630
HSY	Hershey Co	+245,319	958,778	$166,999,952
CHRW	C. H. Robinson Worldwide, Inc.	+223,480	1,159,021	$108,565,497
MTB	M&T Bank Corp	+191,962	517,897	$75,255,613
BNS	Bank Of Nova Scotia	+178,596	613,075	$39,892,790
BCE	Bce Inc	+166,504	571,490	$28,185,886
AXP	American Express Co	+150,939	926,919	$153,154,826
RCI	Rogers Communications Inc	+136,087	467,877	$24,862,983
META	Meta Platforms, Inc.	+134,322	682,961	$237,472,369
GMED	Globus Medical Inc	+122,392	788,749	$61,151,709
MGA	Magna International Inc	+120,991	415,260	$38,469,686
FNV	FRANCO NEVADA Corp	+104,837	360,175	$52,250,587
DLB	Dolby Laboratories, Inc.	+98,116	591,017	$58,091,060
No positions match the current search.

Trimmed

Positions the filer reduced

19 positions

Ticker	Company	Δ Shares	Shares	Value
WFC	Wells Fargo & Company/Mn	−2,764,398	1,786,851	$80,926,481
NOV	NOV Inc.	−2,247,784	814,382	$12,476,332
WY	Weyerhaeuser Co	−1,370,997	98,329	$3,384,484
INTC	Intel Corp	−1,031,390	1,002,224	$56,264,855
ADM	Archer-Daniels-Midland Co	−922,596	2,033,482	$123,229,009
AXTA	Axalta Coating Systems Ltd.	−699,937	296,732	$9,047,358
SKT	Tanger Inc.	−452,636	1,180,918	$22,260,304
WAB	Westinghouse Air Brake Technologies Corp	−390,177	128,049	$10,538,432
CCEP	COCA-COLA EUROPACIFIC PARTNERS plc	−264,517	1,815,705	$107,707,620
L	Loews Corp	−249,078	727,797	$39,774,106
RYN	Rayonier Inc	−218,404	934,308	$33,569,686
OPLN	OPENLANE, Inc.	−211,311	4,124,745	$72,389,274
FCX	Freeport-Mcmoran Inc	−165,379	548,304	$20,347,561
HCSG	Healthcare Services Group Inc	−127,193	1,554,624	$49,079,479
VC	Visteon Corp	−61,683	203,197	$24,574,645
FCN	Fti Consulting, Inc	−42,089	867,451	$118,502,481
ORCL	Oracle Corp	−31,421	3,924,422	$305,477,008
KT	Kt Corp	−15,097	1,398,364	$19,507,177
JNJ	Johnson & Johnson	−5,579	1,527,037	$251,564,075
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
MRSH	Marsh & Mclennan Companies, Inc.	475,713	$66,923,304
DXCM	Dexcom Inc	136,094	$14,528,034
OGN	Organon & Co.	139,315	$4,215,671
No positions match the current search.

Sold Out

Positions the filer fully exited

9 positions

Ticker	Company	Shares	Value
PYPL	PayPal Holdings, Inc.	225,911	$54,860,227
AMAT	Applied Materials Inc /De	404,624	$54,057,766
KO	Coca Cola Co	1,006,645	$53,060,257
BAX	Baxter International Inc	543,663	$45,852,537
USB	US Bancorp De	796,866	$44,074,658
COST	Costco Wholesale Corp /New	100,395	$35,387,229
PPG	Ppg Industries Inc	227,469	$34,179,491
OTIS	Otis Worldwide Corp	375,946	$25,733,503
RTX	RTX Corp	284,138	$21,955,343
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

81 positions · $6,543,166,189 total · as of Jun 30, 2021

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 81 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
ORCL	Oracle Corp Technology	Reduced	3,924,422	-31,421	$305,477,008	+10.0%	4.67%
BKNG	Booking Holdings Inc. Consumer Cyclical	Added	137,017	+43,885	$299,805,541	+38.2%	4.58%
JNJ	Johnson & Johnson Healthcare	Reduced	1,527,037	-5,579	$251,564,075	−0.1%	3.84%
TXN	Texas Instruments Inc Technology	Added	1,247,250	+353,774	$239,846,175	+42.0%	3.67%
META	Meta Platforms, Inc. Communication Services	Added	682,961	+134,322	$237,472,369	+47.0%	3.63%
BIDU	Baidu, Inc. Communication Services	Added	911,874	+25,649	$185,931,108	−3.6%	2.84%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	655,688	+332,882	$182,228,808	+121.0%	2.79%
AZO	Autozone Inc Consumer Cyclical	Added	121,326	+25,229	$181,045,083	+34.2%	2.77%
TRV	Travelers Companies, Inc. Financial Services	Added	1,200,258	+258,798	$179,690,625	+26.9%	2.75%
MRK	Merck & Co., Inc. Healthcare	Added	2,205,162	+81,243	$171,495,448	+9.8%	2.62%
HSY	Hershey Co Consumer Defensive	Added	958,778	+245,319	$166,999,952	+48.0%	2.55%
AXP	American Express Co Financial Services	Added	926,919	+150,939	$153,154,826	+39.5%	2.34%
YUMC	Yum China Holdings, Inc. Consumer Cyclical	Added	2,277,674	+69,521	$150,895,902	+15.4%	2.31%
WAT	Waters Corp /De/ Healthcare	Added	430,356	+57,055	$148,735,337	+40.2%	2.27%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Added	2,177,959	+1,148,144	$146,837,995	+115.6%	2.24%
KMX	Carmax Inc Consumer Cyclical	Added	1,069,676	+334,396	$138,148,655	+41.6%	2.11%
EA	Electronic Arts Inc. Communication Services	Added	956,876	+314,279	$137,627,475	+58.2%	2.10%
KMB	Kimberly Clark Corp Consumer Defensive	Added	951,658	+499,980	$127,312,807	+102.7%	1.95%
ADM	Archer-Daniels-Midland Co Consumer Defensive	Reduced	2,033,482	-922,596	$123,229,009	−26.9%	1.88%
FCN	Fti Consulting, Inc Industrials	Reduced	867,451	-42,089	$118,502,481	−7.0%	1.81%
CHRW	C. H. Robinson Worldwide, Inc. Industrials	Added	1,159,021	+223,480	$108,565,497	+21.6%	1.66%
CCEP	COCA-COLA EUROPACIFIC PARTNERS plc Consumer Defensive	Reduced	1,815,705	-264,517	$107,707,620	−0.7%	1.65%
UPS	United Parcel Service Inc Industrials	Added	507,574	+14,872	$105,560,164	+26.0%	1.61%
PEP	Pepsico Inc Consumer Defensive	Added	700,903	+368,666	$103,852,797	+121.0%	1.59%
PGR	Progressive Corp/Oh/ Financial Services	Added	1,045,967	+549,349	$102,724,419	+116.3%	1.57%
MKL	Markel Group Inc. Financial Services	Added	78,820	+13,218	$93,536,482	+25.1%	1.43%
G	Genpact LTD Technology	Added	1,818,508	+48,898	$82,614,818	+9.0%	1.26%
WFC	Wells Fargo & Company/Mn Financial Services	Reduced	1,786,851	-2,764,398	$80,926,481	−54.5%	1.24%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	563,991	+27,419	$76,099,305	+4.7%	1.16%
ADI	Analog Devices Inc Technology	Added	437,695	+21,383	$75,353,571	+16.7%	1.15%
MTB	M&T Bank Corp Financial Services	Added	517,897	+191,962	$75,255,613	+52.3%	1.15%
GIL	Gildan Activewear Inc. Consumer Cyclical	Added	1,996,820	+97,492	$73,722,594	+26.6%	1.13%
HIG	Hartford Insurance Group, Inc. Financial Services	Added	1,170,115	+57,499	$72,512,026	−2.4%	1.11%
OPLN	OPENLANE, Inc. Consumer Cyclical	Reduced	4,124,745	-211,311	$72,389,274	+11.3%	1.11%
FMX	Mexican Economic Development Inc Consumer Defensive	Added	815,436	+20,299	$68,912,496	+15.1%	1.05%
PAYX	Paychex Inc Technology	Added	641,288	+31,492	$68,810,202	+15.1%	1.05%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	NEW	475,713	NEW	$66,923,304	NEW	1.02%
UNP	Union Pacific Corp Industrials	Added	282,416	+13,796	$62,111,750	+4.9%	0.95%
EXPD	Expeditors International Of Washington Inc Industrials	Added	483,138	+23,629	$61,165,270	+23.6%	0.93%
GMED	Globus Medical Inc Healthcare	Added	788,749	+122,392	$61,151,709	+48.8%	0.93%
AON	Aon plc Financial Services	Added	252,719	+12,363	$60,339,188	+9.1%	0.92%
BNY	Bank of New York Mellon Corp Financial Services	Added	1,155,983	+56,338	$59,221,009	+13.9%	0.91%
DLB	Dolby Laboratories, Inc. Industrials	Added	591,017	+98,116	$58,091,060	+19.4%	0.89%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Added	3,254,298	+1,706,074	$57,818,787	+147.0%	0.88%
MKTX	Marketaxess Holdings Inc Financial Services	Added	123,785	+54,504	$57,385,488	+66.4%	0.88%
INTC	Intel Corp Technology	Reduced	1,002,224	-1,031,390	$56,264,855	−56.8%	0.86%
FNV	FRANCO NEVADA Corp Basic Materials	Added	360,175	+104,837	$52,250,587	+63.3%	0.80%
HCSG	Healthcare Services Group Inc Healthcare	Reduced	1,554,624	-127,193	$49,079,479	+4.1%	0.75%
ADP	Automatic Data Processing Inc Technology	Added	246,889	+12,013	$49,037,093	+10.8%	0.75%
C	Citigroup Inc Financial Services	Added	688,728	+32,795	$48,727,506	+2.1%	0.74%