Marathon Asset Management Ltd

CIK

1861026

Location

London, X0

Portfolio Value

Mid $2,607,099,876

Diversification

Diversified

Filing Date

Global Rank

#1,033 / 8,623 ▲ 6 · as of Mar 2026

Top Industry

Internet Content & Information 6.4%

3Y Alpha vs SPY

-5.8%

Period ended 4 months ago

Filed Apr 24, 2026 · 3mo

19 quarters · since Sep 2021

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+48.1%

SPY

+65.3%

Annualised alpha

-4.3%

Max drawdown

−18.8%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

74 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

4.9%

+0.4 pts

Top 5

20.5%

+0.1 pts

Top 10

35.7%

−0.4 pts

HHI

224

Diversified+0

Portfolio Trend

19 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Financial Services	19.6%	$511,306,094	13
Technology	12.6%	$329,539,518	11
Consumer Cyclical	12.6%	$328,444,440	11
Industrials	12.0%	$313,552,254	9
Healthcare	10.9%	$284,238,414	11
Basic Materials	9.9%	$258,759,189	7
Communication Services	9.5%	$248,167,985	3
Consumer Defensive	7.6%	$197,825,645	5
Energy	3.6%	$94,519,560	2
Unclassified	1.3%	$32,705,496	1
Real Estate	0.3%	$8,041,281	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
OPLN	OPENLANE, Inc.	+130,785	1,104,351	$32,191,831
ORCL	Oracle Corp	+126,180	271,004	$39,867,398
HCSG	Healthcare Services Group Inc	+115,036	971,467	$18,020,712
FISV	Fiserv Inc	+108,981	586,120	$32,705,496
MBC	MasterBrand, Inc.	+100,026	842,902	$7,004,515
NVST	Envista Holdings Corp	+85,670	723,154	$18,346,416
IBKR	Interactive Brokers Group, Inc.	+65,601	543,043	$36,421,894
RPRX	Royalty Pharma plc	+52,702	440,928	$21,151,316
WSC	WillScot Holdings Corp	+51,886	436,759	$7,582,136
WY	Weyerhaeuser Co	+48,548	329,156	$8,041,281
NVDA	Nvidia Corp	+46,210	357,453	$62,339,803
AMZN	Amazon Com Inc	+46,063	552,798	$115,131,239
SEE	SEALED AIR CORP/DE	+44,515	375,900	$15,806,595
FCX	Freeport-Mcmoran Inc	+44,230	282,936	$16,630,978
TDC	Teradata Corp /De/	+41,549	347,849	$8,915,369
TRU	TransUnion	+41,540	569,292	$39,389,313
TFX	Teleflex Inc	+40,860	143,754	$17,194,415
SW	Smurfit Westrock plc	+36,109	302,940	$12,072,159
AXTA	Axalta Coating Systems Ltd.	+33,995	287,288	$7,957,877
BKR	Baker Hughes Co	+32,608	274,587	$16,763,536
MTN	Vail Resorts Inc	+29,900	117,343	$15,057,453
VNT	Vontier Corp	+27,802	235,044	$8,337,010
MSFT	Microsoft Corp	+27,209	196,994	$72,921,268
B	Barrick Mining Corp	+26,864	172,078	$7,019,061
ADM	Archer-Daniels-Midland Co	+26,440	222,628	$16,182,829
No positions match the current search.

Trimmed

Positions the filer reduced

18 positions

Ticker	Company	Δ Shares	Shares	Value
CX	Cemex Sab De CV	−346,495	4,624,113	$52,899,852
CNH	CNH Industrial N.V.	−252,782	11,664,413	$128,308,543
SCCO	Southern Copper Corp/	−148,255	498,627	$85,793,743
MU	Micron Technology Inc	−48,825	134,816	$45,546,237
INMD	InMode Ltd.	−32,571	154,688	$2,116,131
HDB	Hdfc Bank Ltd	−30,105	943,113	$23,464,651
CCEP	COCA-COLA EUROPACIFIC PARTNERS plc	−17,430	1,109,745	$100,620,579
VIPS	Vipshop Holdings Ltd	−16,946	2,925,605	$45,990,510
LAUR	Laureate Education, Inc.	−11,815	1,496,235	$52,128,827
FLUT	Flutter Entertainment plc	−7,586	15,503	$1,580,530
BN	BROOKFIELD Corp /ON/	−7,247	1,955,732	$79,148,474
BNS	Bank Of Nova Scotia	−4,732	1,089,394	$75,505,898
CNQ	CANADIAN NATURAL RESOURCES Ltd	−4,498	1,595,650	$77,756,024
ATS	ATS Corp /ATS	−3,800	1,093,911	$30,848,290
GIL	Gildan Activewear Inc.	−2,748	742,133	$41,299,701
CP	Canadian Pacific Kansas City Ltd/Cn	−1,942	527,024	$41,455,707
BAM	Brookfield Asset Management Ltd.	−1,269	324,752	$14,435,226
FNV	FRANCO NEVADA Corp	−1,044	287,697	$71,075,543
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
SKY	Champion Homes, Inc.	290,034	$21,569,828
No positions match the current search.

Sold Out

Positions the filer fully exited

3 positions

Ticker	Company	Shares	Value
TME	Tencent Music Entertainment Group	2,305,413	$40,413,889
BKNG	Booking Holdings Inc.	4,112	$22,021,116
LYB	LyondellBasell Industries N.V.	304,367	$13,179,091
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

74 tracked positions · $2,607,099,876 total · filing declares 74 positions · $2,607,664,166 · as of Mar 31, 2026

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

Showing 1–50 of 74 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CNH	CNH Industrial N.V. Industrials	Reduced	11,664,413	-252,782	$128,308,543	+16.8%	4.92%
AMZN	Amazon Com Inc Consumer Cyclical	Added	552,798	+46,063	$115,131,239	−1.6%	4.42%
GOOGL	Alphabet Inc. Communication Services	Added	368,043	+23,110	$105,834,445	−2.0%	4.06%
CCEP	COCA-COLA EUROPACIFIC PARTNERS plc Consumer Defensive	Reduced	1,109,745	-17,430	$100,620,579	−1.6%	3.86%
SCCO	Southern Copper Corp/ Basic Materials	Reduced	498,627	-148,255	$85,793,743	−7.6%	3.29%
TIGO	Millicom International Cellular SA Communication Services	Added	1,107,258	+6,236	$82,977,914	+35.9%	3.18%
BN	BROOKFIELD Corp /ON/ Financial Services	Reduced	1,955,732	-7,247	$79,148,474	−12.1%	3.04%
ELV	Elevance Health, Inc. Healthcare	Added	268,388	+21,577	$78,570,587	−9.2%	3.01%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Reduced	1,595,650	-4,498	$77,756,024	+43.6%	2.98%
BNS	Bank Of Nova Scotia Financial Services	Reduced	1,089,394	-4,732	$75,505,898	−6.4%	2.90%
MSFT	Microsoft Corp Technology	Added	196,994	+27,209	$72,921,268	−11.2%	2.80%
FNV	FRANCO NEVADA Corp Basic Materials	Reduced	287,697	-1,044	$71,075,543	+18.8%	2.73%
NVDA	Nvidia Corp Technology	Added	357,453	+46,210	$62,339,803	+7.4%	2.39%
META	Meta Platforms, Inc. Communication Services	Added	103,745	+7,760	$59,355,626	−6.3%	2.28%
CX	Cemex Sab De CV Basic Materials	Reduced	4,624,113	-346,495	$52,899,852	−7.4%	2.03%
LAUR	Laureate Education, Inc. Consumer Defensive	Reduced	1,496,235	-11,815	$52,128,827	+2.7%	2.00%
CPA	Copa Holdings, S.A. Industrials	Added	424,158	+14,586	$48,188,590	−2.4%	1.85%
MKL	Markel Group Inc. Financial Services	Added	24,901	+1,915	$47,662,254	−3.5%	1.83%
V	Visa Inc. Financial Services	Added	153,309	+24,038	$46,336,112	+2.2%	1.78%
VIPS	Vipshop Holdings Ltd Consumer Cyclical	Reduced	2,925,605	-16,946	$45,990,510	−11.6%	1.76%
TMO	Thermo Fisher Scientific Inc. Healthcare	Added	93,421	+7,875	$45,919,224	−7.4%	1.76%
MU	Micron Technology Inc Technology	Reduced	134,816	-48,825	$45,546,237	−13.1%	1.75%
CP	Canadian Pacific Kansas City Ltd/Cn Industrials	Reduced	527,024	-1,942	$41,455,707	+6.4%	1.59%
GIL	Gildan Activewear Inc. Consumer Cyclical	Reduced	742,133	-2,748	$41,299,701	−11.2%	1.58%
ORCL	Oracle Corp Technology	Added	271,004	+126,180	$39,867,398	+41.2%	1.53%
TRU	TransUnion Financial Services	Added	569,292	+41,540	$39,389,313	−13.0%	1.51%
IBKR	Interactive Brokers Group, Inc. Financial Services	Added	543,043	+65,601	$36,421,894	+18.6%	1.40%
MA	Mastercard Inc Financial Services	Added	72,740	+5,284	$36,345,268	−5.6%	1.39%
CME	Cme Group Inc. Financial Services	Added	120,131	+14,459	$35,480,690	+23.0%	1.36%
PGR	Progressive Corp/Oh/ Financial Services	Added	175,470	+21,161	$34,785,172	−1.0%	1.33%
SPGI	S&P Global Inc. Financial Services	Added	78,290	+19,264	$33,299,866	+8.0%	1.28%
ALGN	Align Technology Inc Healthcare	Added	191,709	+15,123	$32,864,673	+19.2%	1.26%
FISV	Fiserv Inc	Added	586,120	+108,981	$32,705,496	+2.0%	1.25%
OPLN	OPENLANE, Inc. Consumer Cyclical	Added	1,104,351	+130,785	$32,191,831	+11.0%	1.23%
ATS	ATS Corp /ATS Industrials	Reduced	1,093,911	-3,800	$30,848,290	+2.0%	1.18%
PAYC	Paycom Software, Inc. Technology	Added	223,315	+18,145	$27,141,705	−17.0%	1.04%
ADSK	Autodesk, Inc. Technology	Added	103,718	+12,488	$24,830,089	−8.1%	0.95%
HDB	Hdfc Bank Ltd Financial Services	Reduced	943,113	-30,105	$23,464,651	−34.0%	0.90%
IQV	Iqvia Holdings Inc. Healthcare	Added	128,999	+10,422	$21,999,489	−17.7%	0.84%
SKY	Champion Homes, Inc. Consumer Cyclical	NEW	290,034	NEW	$21,569,828	NEW	0.83%
RPRX	Royalty Pharma plc Healthcare	Added	440,928	+52,702	$21,151,316	+41.0%	0.81%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	Added	129,869	+15,678	$20,740,079	+18.2%	0.80%
NVST	Envista Holdings Corp Healthcare	Added	723,154	+85,670	$18,346,416	+32.6%	0.70%
HCSG	Healthcare Services Group Inc Healthcare	Added	971,467	+115,036	$18,020,712	+10.1%	0.69%
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	Added	53,256	+9,713	$17,997,865	+36.0%	0.69%
CHRW	C. H. Robinson Worldwide, Inc. Industrials	Added	105,963	+12,538	$17,597,275	+17.2%	0.67%
NEM	NEWMONT Corp /DE/ Basic Materials	Added	160,574	+1,557	$17,382,135	+9.5%	0.67%
TFX	Teleflex Inc Healthcare	Added	143,754	+40,860	$17,194,415	+36.9%	0.66%
BKR	Baker Hughes Co Energy	Added	274,587	+32,608	$16,763,536	+52.1%	0.64%
FCX	Freeport-Mcmoran Inc Basic Materials	Added	282,936	+44,230	$16,630,978	+37.2%	0.64%

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.