MARATHON ASSET MANAGEMENT LLP

CIK

1040592

Location

London, X0

Portfolio Value

Mid $7,025,286,343

Diversification

Diversified

Filing Date

Global Rank

#471 / 6,046 ▼ 9 · as of Jun 2021

Top Industry

Internet Content & Information 9.7%

Period ended 5 years ago

Filed Jul 21, 2021 · 5y

6 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

13F reports continue under

Marathon Asset Management Ltd from Sep 30, 2021

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2021, never from the firm's own description.

Style

Diversified active

Top 10 weight 33.1%, 48.9 effective positions, active share 81.5% against the S&P 500 as of 2021-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

26.6% over the last four quarters (under 30%)

Horizon

Horizon unknown

The value-weighted holding period is at least 5.7 quarters, but 89.3% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2021-06-30, active share 81.5%; sector active share 25.7% against the combined 13F book's sector weights.

Over time 6 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

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

Top Position

4.3%

−0.2 pts

Top 5

19.3%

+0.6 pts

Top 10

33.1%

+0.7 pts

HHI

204

Diversified+15

Portfolio Trend

6 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2021

Sector	% Portfolio	Value	Positions
Financial Services	19.9%	$1,395,442,982	17
Consumer Cyclical	16.4%	$1,149,527,457	10
Communication Services	13.6%	$954,173,427	12
Technology	13.5%	$948,495,359	9
Consumer Defensive	11.9%	$837,692,635	9
Healthcare	10.6%	$744,720,363	8
Industrials	10.3%	$723,831,845	10
Energy	1.9%	$130,542,295	2
Basic Materials	1.2%	$81,645,506	3
Real Estate	0.8%	$59,214,474	3
Unclassified	0.0%	$0	5

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	$118,065,963
TJX	Tjx Companies Inc /De/	+1,148,144	2,177,959	$146,837,995
FAST	Fastenal Co	+650,250	1,849,576	$96,177,952
PGR	Progressive Corp/Oh/	+549,349	1,045,967	$102,724,419
—		+534,954	1,022,977	$0
KMB	Kimberly Clark Corp	+499,980	951,658	$127,312,807
PCAR	Paccar Inc	+431,978	818,559	$73,056,390
PEP	Pepsico Inc	+368,666	700,903	$103,852,797
TXN	Texas Instruments Inc	+353,774	1,247,250	$239,846,175
—		+335,011	1,812,425	$0
KMX	Carmax Inc	+334,396	1,069,676	$138,148,655
BRK-B	Berkshire Hathaway Inc	+332,882	655,688	$182,228,808
—		+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
—		+170,023	691,538	$0
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
No positions match the current search.

Trimmed

Positions the filer reduced

20 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
—		−19,486	41,194	$0
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	$58,112,138
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

88 tracked positions · $7,025,286,343 total · filing declares 98 positions · $8,257,379,000 · 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 88 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
ORCL	Oracle Corp Technology	Reduced	3,924,422	-31,421	$305,477,008	+10.0%	6+	before history	4.35%
BKNG	Booking Holdings Inc. Consumer Cyclical	Added	137,017	+43,885	$299,805,527	+38.2%	6+	before history	4.27%
GOOGL	Alphabet Inc. Communication Services	Added	106,632	+5,024	$260,372,951	+24.2%	6+	before history	3.71%
JNJ	Johnson & Johnson Healthcare	Reduced	1,527,037	-5,579	$251,564,075	−0.1%	6+	before history	3.58%
TXN	Texas Instruments Inc Technology	Added	1,247,250	+353,774	$239,846,175	+42.0%	6+	before history	3.41%
META	Meta Platforms, Inc. Communication Services	Added	682,961	+134,322	$237,472,369	+47.0%	6+	before history	3.38%
BIDU	Baidu, Inc. Communication Services	Added	911,874	+25,649	$185,931,108	−3.6%	6+	before history	2.65%
BRK-B	Berkshire Hathaway Inc Financial Services	Added	655,688	+332,882	$182,228,808	+121.0%	6+	before history	2.59%
AZO	Autozone Inc Consumer Cyclical	Added	121,326	+25,229	$181,045,083	+34.2%	6+	before history	2.58%
TRV	Travelers Companies, Inc. Financial Services	Added	1,200,258	+258,798	$179,690,625	+26.9%	6+	before history	2.56%
MRK	Merck & Co., Inc. Healthcare	Added	2,205,162	+81,243	$171,495,448	+4.7%	6+	before history	2.44%
HSY	Hershey Co Consumer Defensive	Added	958,778	+245,319	$166,999,952	+48.0%	6+	before history	2.38%
AXP	American Express Co Financial Services	Added	926,919	+150,939	$153,154,826	+39.5%	6+	before history	2.18%
YUMC	Yum China Holdings, Inc. Consumer Cyclical	Added	2,277,674	+69,521	$150,895,902	+15.4%	6+	before history	2.15%
WAT	Waters Corp /De/ Healthcare	Added	430,356	+57,055	$148,735,337	+40.2%	6+	before history	2.12%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Added	2,177,959	+1,148,144	$146,837,995	+115.6%	6+	before history	2.09%
KMX	Carmax Inc Consumer Cyclical	Added	1,069,676	+334,396	$138,148,655	+41.6%	6+	before history	1.97%
		Added	956,876	+314,279	$137,627,475	+58.2%	6+	before history	1.96%
KMB	Kimberly Clark Corp Consumer Defensive	Added	951,658	+499,980	$127,312,807	+102.7%	6+	before history	1.81%
ADM	Archer-Daniels-Midland Co Consumer Defensive	Reduced	2,033,482	-922,596	$123,229,009	−26.9%	6+	before history	1.75%
FCN	Fti Consulting, Inc Industrials	Reduced	867,451	-42,089	$118,502,481	−7.0%	3	$113.34	1.69%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Added	3,254,298	+1,706,074	$118,065,963	+147.0%	6+	before history	1.68%
CHRW	C. H. Robinson Worldwide, Inc. Industrials	Added	1,159,021	+223,480	$108,565,497	+21.6%	6+	before history	1.55%
CCEP	COCA-COLA EUROPACIFIC PARTNERS plc Consumer Defensive	Reduced	1,815,705	-264,517	$107,707,620	−0.7%	6+	before history	1.53%
UPS	United Parcel Service Inc Industrials	Added	507,574	+14,872	$105,560,164	+26.0%	6+	before history	1.50%
PEP	Pepsico Inc Consumer Defensive	Added	700,903	+368,666	$103,852,797	+121.0%	6+	before history	1.48%
PGR	Progressive Corp/Oh/ Financial Services	Added	1,045,967	+549,349	$102,724,419	+116.3%	2	$95.09	1.46%
FAST	Fastenal Co Industrials	Added	1,849,576	+650,250	$96,177,952	+59.5%	6+	before history	1.37%
MKL	Markel Group Inc. Financial Services	Added	78,820	+13,218	$93,536,482	+25.1%	6+	before history	1.33%
G	Genpact LTD Technology	Added	1,818,508	+48,898	$82,614,818	+9.0%	6+	before history	1.18%
WFC	Wells Fargo & Company/Mn Financial Services	Reduced	1,786,851	-2,764,398	$80,926,481	−54.5%	6+	before history	1.15%
PG	PROCTER & GAMBLE Co Consumer Defensive	Added	563,991	+27,419	$76,099,305	+4.7%	6+	before history	1.08%
ADI	Analog Devices Inc Technology	Added	437,695	+21,383	$75,353,571	+16.7%	6+	before history	1.07%
MTB	M&T Bank Corp Financial Services	Added	517,897	+191,962	$75,255,613	+52.3%	6+	before history	1.07%
GIL	Gildan Activewear Inc. Consumer Cyclical	Added	1,996,820	+97,492	$73,722,594	+26.6%	6+	before history	1.05%
PCAR	Paccar Inc Industrials	Added	818,559	+431,978	$73,056,390	+103.4%	6+	before history	1.04%
HIG	Hartford Insurance Group, Inc. Financial Services	Added	1,170,115	+57,499	$72,512,026	−2.4%	6+	before history	1.03%
OPLN	OPENLANE, Inc. Consumer Cyclical	Reduced	4,124,745	-211,311	$72,389,274	+11.3%	4	$16.95	1.03%
FMX	Mexican Economic Development Inc Consumer Defensive	Added	815,436	+20,299	$68,912,496	+15.1%	4	$61.97	0.98%
PAYX	Paychex Inc Technology	Added	641,288	+31,492	$68,810,202	+15.1%	6+	before history	0.98%
MRSH	Marsh & Mclennan Companies, Inc. Financial Services	NEW	475,713	NEW	$66,923,304	NEW	1	$134.08	0.95%
UNP	Union Pacific Corp Industrials	Added	282,416	+13,796	$62,111,750	+4.9%	6+	before history	0.88%
EXPD	Expeditors International Of Washington Inc Industrials	Added	483,138	+23,629	$61,165,270	+23.6%	6+	before history	0.87%
GMED	Globus Medical Inc Healthcare	Added	788,749	+122,392	$61,151,709	+48.8%	6+	before history	0.87%
AON	Aon plc Financial Services	Added	252,719	+12,363	$60,339,188	+9.1%	5	$200.96	0.86%
BNY	Bank of New York Mellon Corp Financial Services	Added	1,155,983	+56,338	$59,221,009	+13.9%	6+	before history	0.84%
DXCM	Dexcom Inc Healthcare	NEW	136,094	NEW	$58,112,138	NEW	1	$384.13	0.83%
DLB	Dolby Laboratories, Inc. Industrials	Added	591,017	+98,116	$58,091,060	+19.4%	6+	before history	0.83%
MKTX	Marketaxess Holdings Inc Financial Services	Added	123,785	+54,504	$57,385,488	+66.4%	6+	before history	0.82%
INTC	Intel Corp Technology	Reduced	1,002,224	-1,031,390	$56,264,855	−56.8%	6+	before history	0.80%

Showing the top 50 of 88 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.