Marathon Asset Management Ltd

CIK

1861026

Location

London, X0

Portfolio Value

Small $258,759,207

Diversification

Diversified

Filing Date

Global Rank

#1,033 / 8,586 ▲ 7

Top Industry

Internet Content & Information 6.4%

3Y Alpha vs SPY

-6.4%

Period ended 3 months ago

Filed Apr 24, 2026 · 53d

19 quarters · since Sep 2021

Clone Performance

Jun 2023–Jun 2026 · vs SPY

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

Cloned portfolio

+51.5%

SPY

+78.1%

Annualised alpha

-6.4%

Max drawdown

−18.7%

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

74 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%

−0.3 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%	$511,306,096	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%	$258,759,207	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	$85,793,761
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	$22,021,117
LYB	LyondellBasell Industries N.V.	304,367	$13,179,091
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

7 positions · $258,759,207 total · Basic Materials only · as of Mar 31, 2026

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

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SCCO	Southern Copper Corp/ Basic Materials	Reduced	498,627	-148,255	$85,793,761	−6.8%	33.16%
FNV	FRANCO NEVADA Corp Basic Materials	Reduced	287,697	-1,044	$71,075,543	+18.8%	27.47%
CX	Cemex Sab De CV Basic Materials	Reduced	4,624,113	-346,495	$52,899,852	−7.4%	20.44%
NEM	NEWMONT Corp /DE/ Basic Materials	Added	160,574	+1,557	$17,382,135	+9.5%	6.72%
FCX	Freeport-Mcmoran Inc Basic Materials	Added	282,936	+44,230	$16,630,978	+37.2%	6.43%
AXTA	Axalta Coating Systems Ltd. Basic Materials	Added	287,288	+33,995	$7,957,877	−2.8%	3.08%
B	Barrick Mining Corp Basic Materials	Added	172,078	+26,864	$7,019,061	+11.0%	2.71%