Marathon Asset Management Ltd — 13F Holdings & Portfolio
CIK 1861026 · latest 13F-HR filed 2026-04-24
Marathon Asset Management Ltd manages $2.61B in 13F-reported U.S. long-equity assets across 74 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are CNH (4.92%), AMZN (4.42%), GOOGL (4.06%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 1 new position, exited 4, added to 36, and trimmed 21.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$2.61B
Long-equity book
74
Distinct positions
2026-03-31
Filed 2026-04-24
+1 / −4 / ↑36 / ↓21
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- CANADIAN NAT RES LTD MED TER$23.3M +42.5%
- MILLICOM INTL CELLULAR S A$21.9M +35.9%
- CNH INDL N V$18.4M +16.8%
- ORACLE CORP$11.6M +41.2%
- FRANCO NEV CORP$11.1M +18.5%
Top Trims
- HDFC BANK LTD-$12.1M -34.0%
- BROOKFIELD CORP-$11.3M -12.5%
- MICROSOFT CORP-$9.2M -11.2%
- ELEVANCE HEALTH INC FORMERLY-$7.9M -9.2%
- SOUTHERN COPPER CORP-$7.0M -7.6%
Exited Positions
- Tencent Music Ent - Class A$40.4M
- Booking Holdings Inc.$22.0M
- Lyondellbasell Indu-CL A$13.2M
- Alphabet Inc. - Class A$7.7M
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | CNH INDL N V | CNH | N20944109 | $128.3M | 4.92% | 11,664,413 | SH |
| 2 | AMAZON COM INC | AMZN | 023135106 | $115.3M | 4.42% | 552,798 | SH |
| 3 | ALPHABET INC | GOOGL | 02079K305 | $105.8M | 4.06% | 368,043 | SH |
| 4 | COCA-COLA EUROPACIFIC PARTNE | CCEP | G25839104 | $100.6M | 3.86% | 1,109,745 | SH |
| 5 | SOUTHERN COPPER CORP | SCCO | 84265V105 | $85.8M | 3.29% | 498,627 | SH |
| 6 | MILLICOM INTL CELLULAR S A | TIGO | L6388F110 | $83.0M | 3.18% | 1,107,258 | SH |
| 7 | BROOKFIELD CORP | BN | 11271J107 | $79.0M | 3.03% | 1,955,732 | SH |
| 8 | ELEVANCE HEALTH INC FORMERLY | ELV | 036752103 | $78.6M | 3.01% | 268,388 | SH |
| 9 | CANADIAN NAT RES LTD MED TER | CNQ | 136385101 | $78.3M | 3.00% | 1,595,650 | SH |
| 10 | BANK NOVA SCOTIA B C | BNS | 064149107 | $75.3M | 2.89% | 1,089,394 | SH |
| 11 | MICROSOFT CORP | MSFT | 594918104 | $72.9M | 2.80% | 196,994 | SH |
| 12 | FRANCO NEV CORP | FNV | 351858105 | $71.0M | 2.72% | 287,697 | SH |
| 13 | NVIDIA CORPORATION | NVDA | 67066G104 | $62.3M | 2.39% | 357,453 | SH |
| 14 | META PLATFORMS INC | META | 30303M102 | $59.4M | 2.28% | 103,745 | SH |
| 15 | CEMEX SA EURO MTN BE 144A | CX | 151290889 | $52.9M | 2.03% | 4,624,113 | SH |
| 16 | LAUREATE ED INC | LAUR | 518613203 | $52.1M | 2.00% | 1,496,235 | SH |
| 17 | COPA HOLDINGS SA | CPA | P31076105 | $48.2M | 1.85% | 424,158 | SH |
| 18 | MARKEL GROUP INC | MKL | 570535104 | $47.7M | 1.83% | 24,901 | SH |
| 19 | VISA INC | V | 92826C839 | $46.3M | 1.78% | 153,309 | SH |
| 20 | VIPSHOP HLDGS LTD | VIPS | 92763W103 | $46.0M | 1.76% | 2,925,605 | SH |
| 21 | THERMO FISHER SCIENTIFIC INC | TMO | 883556102 | $46.0M | 1.76% | 93,421 | SH |
| 22 | MICRON TECHNOLOGY INC | MU | 595112103 | $45.6M | 1.75% | 134,816 | SH |
| 23 | CANADIAN PACIFIC KANSAS CITY | CP | 13646K108 | $41.4M | 1.59% | 527,024 | SH |
| 24 | GILDAN ACTIVEWEAR INC | GIL | 375916103 | $41.4M | 1.59% | 742,133 | SH |
| 25 | ORACLE CORP | ORCL | 68389X105 | $39.9M | 1.53% | 271,004 | SH |
| 26 | TRANSUNION | TRU | 89400J107 | $39.4M | 1.51% | 569,292 | SH |
| 27 | INTERACTIVE BROKERS GROUP IN | IBKR | 45841N107 | $36.4M | 1.40% | 543,043 | SH |
| 28 | MASTERCARD INCORPORATED | MA | 57636Q104 | $36.4M | 1.40% | 72,740 | SH |
| 29 | CME GROUP INC | CME | 12572Q105 | $35.5M | 1.36% | 120,131 | SH |
| 30 | PROGRESSIVE CORP | PGR | 743315103 | $34.8M | 1.33% | 175,470 | SH |
| 31 | S&P GLOBAL INC | SPGI | 78409V104 | $33.3M | 1.28% | 78,290 | SH |
| 32 | ALIGN TECHNOLOGY INC | ALGN | 016255101 | $32.9M | 1.26% | 191,709 | SH |
| 33 | FISERV INC | FISV | 337738108 | $32.7M | 1.25% | 586,120 | SH |
| 34 | OPENLANE INC | OPLN | 48238T109 | $32.2M | 1.23% | 1,104,351 | SH |
| 35 | ATS CORPORATION | ATS | 00217Y104 | $30.7M | 1.18% | 1,093,911 | SH |
| 36 | PAYCOM SOFTWARE INC | PAYC | 70432V102 | $27.1M | 1.04% | 223,315 | SH |
| 37 | AUTODESK INC | ADSK | 052769106 | $24.8M | 0.95% | 103,718 | SH |
| 38 | HDFC BANK LTD | HDB | 40415F101 | $23.5M | 0.90% | 943,113 | SH |
| 39 | IQVIA HLDGS INC | IQV | 46266C105 | $22.0M | 0.84% | 128,999 | SH |
| 40 | CHAMPION HOMES INC | SKY | 830830105 | $21.6M | 0.83% | 290,034 | SH |
| 41 | ROYALTY PHARMA PLC | RPRX | G7709Q104 | $21.2M | 0.81% | 440,928 | SH |
| 42 | TJX COS INC NEW | TJX | 872540109 | $20.7M | 0.80% | 129,869 | SH |
| 43 | ENVISTA HOLDINGS CORPORATION | NVST | 29415F104 | $18.3M | 0.70% | 723,154 | SH |
| 44 | TAIWAN SEMICONDUCTOR MANUFAC | TSM | 874039100 | $18.0M | 0.69% | 53,256 | SH |
| 45 | HEALTHCARE SVCS GROUP INC | HCSG | 421906108 | $18.0M | 0.69% | 971,467 | SH |
| 46 | C H ROBINSON WORLDWIDE IN | CHRW | 12541W209 | $17.6M | 0.68% | 105,963 | SH |
| 47 | NEWMONT CORP | NEM | 651639106 | $17.4M | 0.67% | 160,574 | SH |
| 48 | TELEFLEX INCORPORATED | TFX | 879369106 | $17.2M | 0.66% | 143,754 | SH |
| 49 | BAKER HUGHES COMPANY | BKR | 05722G100 | $16.8M | 0.64% | 274,587 | SH |
| 50 | FREEPORT MCMORAN INC | FCX | 35671D857 | $16.6M | 0.64% | 282,936 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-04-24 | $2.61B | 74 | 0001861026-26-000007 |
| 2025-12-31 | 2026-02-06 | $2.60B | 77 | 0001861026-26-000004 |