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Marathon Asset Management Ltd

THE FLORAL BUILDING 27B FLORAL STREET, LONDON WC2E 9DP • 44 0 2074972211

Q3 2025 · Filed 2025-10-17
Market Value
$2.6B
-13.1%
Holdings
76
-2
New Purchases
1
Added To
5
Closed
3
Reduced
66
Top 10 Concentration
36.7%
Turnover
5.3%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TIGO 1.83% 0.00% +1.83% $48M
FNV 2.62% 1.77% +0.85% $68M
SCCO 3.13% 2.38% +0.75% $82M
BN 3.66% 3.03% +0.63% $95M
BNS 2.88% 2.26% +0.62% $75M
TME 2.56% 1.97% +0.59% $67M
LAUR 1.84% 1.26% +0.58% $48M
GOOGL 3.52% 3.01% +0.50% $92M
VIPS 2.34% 1.86% +0.48% $61M
CX 1.81% 1.41% +0.40% $47M
CCEP 4.04% 3.64% +0.40% $105M
GIL 1.75% 1.37% +0.38% $46M
CPA 1.71% 1.47% +0.23% $45M
NVDA 2.45% 2.22% +0.22% $64M
CNQ 2.10% 1.89% +0.21% $55M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ADBE 0.00% 1.11% -1.11% $0
GOOG 0.53% 1.37% -0.84% $14M
FI 2.36% 3.00% -0.65% $62M
WAB 0.00% 0.46% -0.46% $0
CNHI 5.19% 5.63% -0.44% $135M
ORCL 1.86% 2.29% -0.43% $49M
META 2.92% 3.34% -0.42% $76M
TRU 1.83% 2.18% -0.35% $48M
MKL 1.82% 2.17% -0.35% $48M
V 1.83% 2.16% -0.33% $48M
PAYC 1.77% 2.07% -0.29% $46M
ALGN 0.92% 1.19% -0.28% $24M
CME 1.20% 1.46% -0.26% $31M
CABO 0.00% 0.25% -0.25% $0
LYB 0.62% 0.83% -0.21% $16M

Sector Allocation Over Time

Industry Breakdown

IndustryWeight
Financial Services 18.5%
Technology 14.2%
Consumer Cyclical 12.6%
Healthcare 11.3%
Industrials 11.2%

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 12 $661M 25.3%
Large Cap 39 $1.5B 57.0%
Mid Cap 21 $435M 16.7%
Small Cap 3 $26M 1.0%
Micro Cap 1 $0 0.0%

Portfolio Analytics

Avg Market Cap
$388.0B
Median Market Cap
$23.3B
Avg P/E
24.3
Median P/E
21.8
Avg Dividend Yield
0.01%
Avg Beta
1.02
# Stocks
76
# ETFs / Funds
0

Top Holdings (76 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 CNHI 5.19% 12,473,058 $135M $10.85 -$34M -578,939 -4.4%
2 AMZN 4.35% 517,446 $114M $219.47 -$22M -101,506 -16.4%
3 CCEP 4.04% 1,165,190 $105M $90.41 -$4M -14,892 -1.3%
4 MSFT 3.67% 184,741 $96M $517.95 -$19M -45,058 -19.6%
5 BN 3.66% 1,390,733 $95M $68.63 $4M -83,126 -5.6%
6 GOOGL 3.52% 377,542 $92M $243.10 $1M -136,291 -26.5%
7 ANTM 3.31% 267,395 $86M $323.12 -$16M +3,859 +1.5%
8 SCCO 3.13% 672,083 $82M $121.36 $10M -34,322 -4.9%
9 META 2.92% 103,799 $76M $734.36 -$24M -32,120 -23.6%
10 BNS 2.88% 1,162,303 $75M $64.68 $7M -68,889 -5.6%
11 FNV 2.62% 306,723 $68M $222.64 $15M -18,197 -5.6%
12 TME 2.56% 2,864,424 $67M $23.34 $8M -175,275 -5.8%
13 NVDA 2.45% 342,179 $64M $186.59 -$3M -80,341 -19.0%
14 FI 2.36% 477,082 $62M $128.93 -$29M -46,333 -8.8%
15 VIPS 2.34% 3,114,748 $61M $19.64 $5M -605,640 -16.3%
16 CNQ 2.10% 1,692,101 $55M $32.40 -$2M -98,054 -5.5%
17 ORCL 1.86% 172,604 $49M $281.23 -$20M -142,454 -45.2%
18 LAUR 1.84% 1,526,033 $48M $31.54 $10M -93,053 -5.8%
19 TRU 1.83% 570,476 $48M $83.78 -$18M -175,150 -23.5%
20 TIGO 1.83% 984,528 $48M $48.54 +984,528 NEW
21 V 1.83% 139,710 $48M $341.36 -$17M -42,960 -23.5%
22 MKL 1.82% 24,871 $48M $1,911.42 -$18M -7,760 -23.8%
23 CX 1.81% 5,240,589 $47M $8.99 $5M -853,582 -14.0%
24 PAYC 1.77% 222,413 $46M $208.14 -$16M -45,872 -17.1%
25 GIL 1.75% 791,282 $46M $57.78 $4M -46,965 -5.6%
26 MU 1.75% 272,606 $46M $167.32 -$7M -153,945 -36.1%
27 TMO 1.73% 92,802 $45M $485.48 -$5M -29,919 -24.4%
28 CPA 1.71% 374,590 $45M $118.82 $218K -28,162 -7.0%
29 MA 1.59% 72,897 $41M $568.89 -$12M -22,333 -23.4%
30 PGR 1.39% 146,891 $36M $246.95 -$8M -18,547 -11.2%
31 IBKR 1.38% 524,853 $36M $68.81 -$4M -195,051 -27.1%
32 ADSK 1.22% 100,295 $32M $317.66 -$11M -37,245 -27.1%
33 CME 1.20% 116,204 $31M $270.18 -$13M -43,143 -27.1%
34 OPLN 1.18% 1,068,163 $31M $28.78 -$5M -381,802 -26.3%
35 HDB 1.15% 878,938 $30M $34.16 -$10M +365,962 +71.3%
36 IQV 0.94% 128,464 $24M $189.94 -$2M -40,797 -24.1%
37 BKNG 0.92% 4,448 $24M $5,398.87 -$10M -1,375 -23.6%
38 ALGN 0.92% 191,320 $24M $125.22 -$12M +2,001 +1.1%
39 SPGI 0.92% 49,179 $24M $486.70 -$6M -7,895 -13.8%
40 TJX 0.69% 125,404 $18M $144.54 -$3M -46,606 -27.1%
41 LYB 0.62% 329,029 $16M $49.04 -$9M -101,000 -23.5%
42 HCSG 0.61% 939,641 $16M $16.83 -$3M -335,589 -26.3%
43 RPRX 0.58% 426,072 $15M $35.28 -$6M -153,549 -26.5%
44 NEM 0.56% 174,701 $15M $84.31 -$3M -126,742 -42.0%
45 BIO 0.56% 51,918 $15M $280.37 $122K -7,893 -13.2%
46 MTN 0.55% 96,066 $14M $149.57 $2M +16,976 +21.5%
47 NVST 0.55% 699,446 $14M $20.37 -$4M -250,561 -26.4%
48 AL 0.54% 221,772 $14M $63.91 -$4M -79,430 -26.4%
49 GOOG 0.53% 56,316 $14M $243.55 -$27M -175,436 -75.7%
50 CHRW 0.52% 102,502 $14M $133.11 $220K -36,620 -26.3%
51 TSM 0.52% 48,714 $14M $279.93 $2M -3,539 -6.8%
52 DLTR 0.52% 143,528 $14M $94.37 -$6M -51,413 -26.4%
53 BKR 0.50% 265,494 $13M $48.72 -$885K -94,974 -26.4%
54 ADM 0.49% 215,257 $13M $59.74 -$3M -77,018 -26.4%
55 SEE 0.49% 363,588 $13M $35.35 -$2M -129,901 -26.3%
56 WCC 0.47% 57,514 $12M $211.49 -$2M -20,606 -26.4%
57 HSIC 0.44% 171,888 $11M $66.37 -$6M -61,529 -26.4%
58 LASR 0.42% 366,148 $11M $29.63 -$4M -369,918 -50.3%
59 ROG 0.40% 129,314 $10M $80.46 -$2M -46,623 -26.5%
60 FCX 0.37% 249,302 $10M $39.22 -$6M -112,447 -31.1%
61 VNT 0.37% 227,373 $10M $41.97 -$2M -81,490 -26.4%
62 WFC 0.35% 109,742 $9M $83.82 -$3M -39,284 -26.4%
63 FCN 0.35% 56,830 $9M $161.64 $617K +3,769 +7.1%
64 WSC 0.34% 422,827 $9M $21.11 -$4M -40,442 -8.7%
65 AXTA 0.30% 277,910 $8M $28.62 -$3M -99,483 -26.4%
66 TFX 0.30% 64,787 $8M $122.36 -$2M -19,737 -23.4%
67 WY 0.30% 313,004 $8M $24.79 -$784K -19,553 -5.9%
68 DFIN 0.29% 149,412 $8M $51.43 -$5M -53,412 -26.3%
69 COKE 0.29% 63,710 $7M $117.16 -$2M -22,804 -26.4%
70 TDC 0.28% 336,163 $7M $21.51 -$3M -121,196 -26.5%
71 B 0.19% 151,860 $5M $32.77 $295K -73,000 -32.5%
72 KMX 0.17% 97,155 $4M $44.87 -$5M -34,786 -26.4%
73 INMD 0.11% 187,259 $3M $14.90 $86K
74 CABO —% -$7M -54,746 -100.0% SOLD
75 WAB —% -$14M -65,943 -100.0% SOLD
76 ADBE —% -$33M -86,191 -100.0% SOLD

New Positions

SymbolValue% Port
TIGO $48M 1.83%

Sold Out Positions

SymbolValue% Port
CABO —%
WAB —%
ADBE —%
View SEC EDGAR Filings for Marathon Asset Management Ltd →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms