Marathon Asset Management Ltd
Sector Allocation
- Technology18.6%$409.7M
- Financials16.4%$361.2M
- Industrials14.4%$315.9M
- Materials12.7%$278.2M
- Healthcare9.6%$210.7M
- Consumer Discretionary9.1%$200.6M
- Consumer Staples5.9%$129.1M
- Communication Services4.6%$101.1M
- Energy4.1%$90.9M
- Real Estate3.2%$70.1M
AUM History
13fpro.ai/research/fund/marathon-asset-management-ltd-1861026
Conviction and streaks
Stable · top 10 = 37.3%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q3 2026
CNH
$139.9MCCEP
$95.4MSCCO
$91.6MAMZN
$83.0MGOOGL
$79.4MTIGO
$78.1MNVDA
$67.7MELV
$66.9MBNS
$66.5MMSFT
$51.2MCPA
$50.7MCNQ
$50.5MLAUR
$48.5MBN
$47.8MMETA
$47.3MMU
$46.8MFNV
$45.9MV
$42.7MWFG
$42.3MTMO
$41.0M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/marathon-asset-management-ltd-1861026
Marathon Asset Management Ltd 13F holdings — Q3 2026
$2.2B portfolio (-10.6% QoQ) · 76 holdings · Q3 2026 13F · top 10 are 37% of the stock portfolio
$139.9M
6.4% of stocks
-3%This quarter0.0%Since filed11+ qtrsHeld$95.4M
4.3% of stocks
-10%This quarter0.0%Since filed11+ qtrsHeld$91.6M
4.2% of stocks
-5%This quarter0.0%Since filed11+ qtrsHeld$83.0M
3.8% of stocks
-22%This quarter0.0%Since filed9 qtrsHeldAIQuality67.5#363Est. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row$79.4M
3.6% of stocks
-24%This quarter0.0%Since filed11+ qtrsHeld$78.1M
3.5% of stocks
-16%This quarter0.0%Since filed5 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row$67.7M
3.1% of stocks
+6%This quarter0.0%Since filed7 qtrsHeld$66.9M
3.0% of stocks
-22%This quarter0.0%Since filed8 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row$66.5M
3.0% of stocks
-23%This quarter0.0%Since filed11+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row$51.2M
2.3% of stocks
-37%This quarter0.0%Since filed11+ qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialTrimmed 2 qtrs in a row
All holdings — Marathon Asset Management Ltd (Q3 2026)
76 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Copa Holdings, S.A. | Industrials | $50.7M | 2.3% | 385K | -7% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | CANADIAN NATURAL RESOURCES Ltd | Energy | $50.5M | 2.3% | 1.06M | -24% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | LAUREATE EDUCATION, INC. | Consumer Discretionary | $48.5M | 2.2% | 1.27M | -10% | 10 qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | BROOKFIELD Corp /ON/ | Real Estate | $47.8M | 2.2% | 1.31M | -23% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | Meta Platforms, Inc. | Technology | $47.3M | 2.1% | 65K | -23% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | MICRON TECHNOLOGY INC | Technology | $46.8M | 2.1% | 44K | -18% | 11+ qtrsTrimmed 8 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | FRANCO NEVADA Corp | Materials | $45.9M | 2.1% | 192K | -23% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | VISA INC. | Financials | $42.7M | 1.9% | 119K | -25% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | WEST FRASER TIMBER CO., LTD | Industrials | $42.3M | 1.9% | 607K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | THERMO FISHER SCIENTIFIC INC. | Healthcare | $41.0M | 1.9% | 61K | -20% | 11+ qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | CEMEX SAB DE CV | Materials | $38.7M | 1.8% | 4.07M | -7% | 11+ qtrsTrimmed 8 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | BUENAVENTURA MINING CO INC | Materials | $38.4M | 1.8% | 1.22M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | Gildan Activewear Inc. | Consumer Discretionary | $34.6M | 1.6% | 810K | -23% | 11+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | Interactive Brokers Group, Inc. | Financials | $33.7M | 1.5% | 394K | -8% | 10 qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | GFL Environmental Inc. | Utilities | $32.3M | 1.5% | 771K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $ORCL | ORACLE CORP | Technology | $32.2M | 1.5% | 235K | -1% | |||
| 27 | $VIST | Vista Energy, S.A.B. de C.V. | Energy | $31.0M | 1.4% | 475K | New | |||
| 28 | $TRU | TransUnion | Financials | $30.7M | 1.4% | 502K | -22% | |||
| 29 | $CP | CANADIAN PACIFIC KANSAS CITY LTD/CN | Industrials | $30.1M | 1.4% | 352K | -23% | |||
| 30 | $TSM | TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | Technology | $28.1M | 1.3% | 62K | -21% | |||
| 31 | $MKL | MARKEL GROUP INC. | Financials | $27.0M | 1.2% | 16K | -23% | |||
| 32 | $PGR | PROGRESSIVE CORP/OH/ | Financials | $26.4M | 1.2% | 127K | -8% | |||
| 33 | $MA | Mastercard Inc | Financials | $24.9M | 1.1% | 45K | -24% | |||
| 34 | $CME | CME GROUP INC. | Financials | $22.9M | 1.0% | 87K | -8% | |||
| 35 | $IQV | IQVIA HOLDINGS INC. | Healthcare | $22.3M | 1.0% | 83K | -21% | |||
| 36 | $ICE | Intercontinental Exchange, Inc. | Financials | $21.4M | 1.0% | 141K | New | |||
| 37 | $SPGI | S&P Global Inc. | Financials | $20.0M | 0.9% | 51K | -20% | |||
| 38 | $PAYC | Paycom Software, Inc. | Technology | $19.3M | 0.9% | 89K | -51% | |||
| 39 | $FISV | FISERV INC | Financials | $17.0M | 0.8% | 376K | -22% | |||
| 40 | $ADSK | Autodesk, Inc. | Technology | $15.7M | 0.7% | 75K | -8% | |||
| 41 | $OPLN | OPENLANE, Inc. | Consumer Discretionary | $15.4M | 0.7% | 452K | -9% | |||
| 42 | $SKY | Champion Homes, Inc. | Industrials | $15.4M | 0.7% | 180K | -25% | |||
| 43 | $RPRX | Royalty Pharma plc | Healthcare | $15.3M | 0.7% | 261K | -9% | |||
| 44 | $BIO | BIO-RAD LABORATORIES, INC. | Healthcare | $14.5M | 0.7% | 38K | -9% | |||
| 45 | $HCSG | HEALTHCARE SERVICES GROUP INC | Healthcare | $14.2M | 0.7% | 695K | -9% | |||
| 46 | $FCX | FREEPORT-MCMORAN INC | Materials | $14.0M | 0.6% | 200K | -8% | |||
| 47 | $TFX | TELEFLEX INC | Healthcare | $13.7M | 0.6% | 110K | -24% | |||
| 48 | $ATS | ATS Corp /ATS | Industrials | $13.3M | 0.6% | 732K | -23% | |||
| 49 | $NEM | NEWMONT Corp /DE/ | Materials | $13.2M | 0.6% | 115K | -9% | |||
| 50 | $SW | Smurfit Westrock plc | Materials | $13.0M | 0.6% | 295K | -9% | |||
| 51 | $ADM | Archer-Daniels-Midland Co | Consumer Staples | $12.6M | 0.6% | 159K | -9% | |||
| 52 | $TJX | TJX COMPANIES INC /DE/ | Consumer Discretionary | $12.5M | 0.6% | 94K | -8% | |||
| 53 | $NVST | Envista Holdings Corp | Healthcare | $12.1M | 0.6% | 517K | -9% | |||
| 54 | $DLTR | DOLLAR TREE, INC. | Consumer Staples | $12.1M | 0.6% | 106K | -9% | |||
| 55 | $HDB | HDFC BANK LTD | Financials | $11.8M | 0.5% | 528K | -43% | |||
| 56 | $ROG | ROGERS CORP | Materials | $11.7M | 0.5% | 77K | -8% | |||
| 57 | $RYN | RAYONIER INC | Real Estate | $11.6M | 0.5% | 629K | +30% | |||
| 58 | $MTN | VAIL RESORTS INC | Communication Services | $11.5M | 0.5% | 84K | -9% | |||
| 59 | $WMG | Warner Music Group Corp. | Communication Services | $11.5M | 0.5% | 415K | -9% | |||
| 60 | $CHRW | C. H. ROBINSON WORLDWIDE, INC. | Industrials | $11.3M | 0.5% | 76K | -9% | |||
| 61 | $TDC | TERADATA CORP /DE/ | Technology | $10.9M | 0.5% | 378K | +39% | |||
| 62 | $WY | WEYERHAEUSER CO | Real Estate | $10.8M | 0.5% | 565K | +31% | |||
| 63 | $HSIC | HENRY SCHEIN INC | Healthcare | $10.7M | 0.5% | 127K | -9% | |||
| 64 | $BAM | Brookfield Asset Management Ltd. | Financials | $9.7M | 0.4% | 217K | -23% | |||
| 65 | $BKR | Baker Hughes Co | Energy | $9.4M | 0.4% | 171K | -9% | |||
| 66 | $COKE | Coca-Cola Consolidated, Inc. | Consumer Staples | $8.9M | 0.4% | 47K | -9% | |||
| 67 | $WSC | WillScot Holdings Corp | Industrials | $7.7M | 0.3% | 446K | -9% | |||
| 68 | $MBC | MasterBrand, Inc. | Consumer Discretionary | $6.6M | 0.3% | 947K | -8% | |||
| 69 | $AXTA | Axalta Coating Systems Ltd. | Materials | $6.6M | 0.3% | 205K | -9% | |||
| 70 | $WFC | WELLS FARGO & COMPANY/MN | Financials | $6.5M | 0.3% | 81K | -9% | |||
| 71 | $FCN | FTI CONSULTING, INC | Technology | $5.6M | 0.3% | 42K | -9% | |||
| 72 | $VNT | Vontier Corp | Technology | $5.3M | 0.2% | 168K | -9% | |||
| 73 | $DFIN | Donnelley Financial Solutions, Inc. | Industrials | $5.2M | 0.2% | 110K | -9% | |||
| 74 | $B | BARRICK MINING CORP | Materials | $5.0M | 0.2% | 124K | -8% | |||
| 75 | $FLUT | Flutter Entertainment plc | Technology | $75K | 0.0% | 1,008 | -9% | |||
| 76 | $INMD | InMode Ltd. | Healthcare | $70K | 0.0% | 4,910 | -97% |
What changed in Q3 2026
Against the previous quarter's 13F: 5 new, 4 added to, 67 trimmed, 3 sold out. Share-count changes; largest moves by dollar size first.
New positions (5)
first bought this quarter
$BVNBUENAVENTURA MINING CO INC$38.4M
first bought this quarter
$GFLGFL Environmental Inc.$32.3M
first bought this quarter
$VISTVista Energy, S.A.B. de C.V.$31.0M
first bought this quarter
$ICEIntercontinental Exchange, Inc.$21.4M
first bought this quarter
Added to (4)
Trimmed (67)
now $51.2M · held 11+ qtrs, 2 trims in a row
now $79.4M · held 11+ qtrs, 2 trims in a row
now $83.0M · held 9 qtrs, 2 trims in a row
$PAYCPaycom Software, Inc.-51%
now $19.3M · held 11+ qtrs, 2 trims in a row
now $66.5M · held 11+ qtrs, 2 trims in a row
now $66.9M · held 8 qtrs, 2 trims in a row
+61 more in the Excel export
Holdings by quarter
Every 13F Marathon Asset Management Ltd has filed, 20 earlier quarters. Pick one to see what it held then.
Is it too late to follow Marathon Asset Management Ltd?
Q3 2026 13F filed with the SEC on Oct 26, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Marathon Asset Management Ltd's top 20 holdings: 75/100 (our AI quality score, weighted by position size; 12 of the 20 are scored)
Top 10 since filing
0.0%
Value-weighted move of the 10 largest stock positions
Turnover
8%
Last quarter; 17% over the last 4
Top 10 weight
37%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
91%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Marathon Asset Management Ltd disclosed 76 positions worth $2.2B in its Form 13F-HR for Q3 2026, led by $CNH (CNH Industrial N.V.) at 6.4% of the equity portfolio, followed by $CCEP and $SCCO. During the quarter the fund opened 5 new positions and exited 3 — including a new stake in $WFG and a full exit from $VIPS. The portfolio is most concentrated in Technology (18.6% of disclosed assets). All figures are sourced directly from Marathon Asset Management Ltd’s Form 13F-HR filing with the SEC under CIK 1861026.
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