13F HOLDINGS REPORT
Marathon Asset Management Ltd
Quarter ended Q3 2025 · Filed October 17, 2025 · Accession 0001861026-25-000018
Total Value
$2.72B
Positions
78
Other Managers
0
Confidential Omitted
No
Holdings (78)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | CNH INDL N V | N20944109 | 12,473,058 | $135.3M | 4.98% |
| 2 | AMAZON COM INC | AMZN | 517,446 | $113.6M | 4.18% |
| 3 | COCA-COLA EUROPACIFIC PARTNE | CCEP | 1,165,190 | $105.3M | 3.88% |
| 4 | MICROSOFT CORP | MSFT | 184,741 | $95.7M | 3.52% |
| 5 | BROOKFIELD CORP | 11271J107 | 1,390,733 | $95.4M | 3.51% |
| 6 | ALPHABET INC | GOOG | 377,542 | $91.8M | 3.38% |
| 7 | ELEVANCE HEALTH INC FORMERLY | ELV | 267,395 | $86.4M | 3.18% |
| 8 | SOUTHERN COPPER CORP | SCCO | 672,083 | $81.6M | 3.00% |
| 9 | META PLATFORMS INC | META | 103,799 | $76.2M | 2.80% |
| 10 | BANK NOVA SCOTIA HALIFAX | 064149107 | 1,162,303 | $75.2M | 2.77% |
| 11 | FRANCO NEV CORP | FNV | 306,723 | $68.3M | 2.51% |
| 12 | TENCENT MUSIC ENTMT GROUP | XHLD | 2,864,424 | $66.9M | 2.46% |
| 13 | NVIDIA CORPORATION | NVDA | 342,179 | $63.8M | 2.35% |
| 14 | FISERV INC | FISV | 477,082 | $61.5M | 2.26% |
| 15 | VIPSHOP HLDGS LTD | VIPS | 3,114,748 | $61.2M | 2.25% |
| 16 | CANADIAN NAT RES LTD | 136385101 | 1,692,101 | $54.8M | 2.02% |
| 17 | ORACLE CORP | ORCL-PD | 172,604 | $48.5M | 1.79% |
| 18 | LAUREATE EDUCATION INC | LAUR | 1,526,033 | $48.1M | 1.77% |
| 19 | TRANSUNION | TRU | 570,476 | $47.8M | 1.76% |
| 20 | MILLICOM INTL CELLULAR S A | L6388F110 | 984,528 | $47.8M | 1.76% |
| 21 | VISA INC | V | 139,710 | $47.7M | 1.75% |
| 22 | MARKEL GROUP INC | MKL | 24,871 | $47.5M | 1.75% |
| 23 | CEMEX SAB DE CV | CXMSF | 5,240,589 | $47.1M | 1.73% |
| 24 | PAYCOM SOFTWARE INC | PAYC | 222,413 | $46.3M | 1.70% |
| 25 | GILDAN ACTIVEWEAR INC | GIL | 791,282 | $45.7M | 1.68% |
| 26 | MICRON TECHNOLOGY INC | MU | 272,606 | $45.6M | 1.68% |
| 27 | THERMO FISHER SCIENTIFIC INC | TMO | 92,802 | $45.1M | 1.66% |
| 28 | COPA HOLDINGS SA | CPA | 374,590 | $44.5M | 1.64% |
| 29 | CANADIAN PACIFIC KANSAS CITY | CP | 561,968 | $42.0M | 1.54% |
| 30 | MASTERCARD INCORPORATED | MA | 72,897 | $41.5M | 1.53% |
| 31 | PROGRESSIVE CORP | 743315103 | 146,891 | $36.3M | 1.33% |
| 32 | INTERACTIVE BROKERS GROUP IN | 45841N107 | 524,853 | $36.1M | 1.33% |
| 33 | AUTODESK INC | ADSK | 100,295 | $31.9M | 1.17% |
| 34 | CME GROUP INC | CME | 116,204 | $31.4M | 1.16% |
| 35 | OPENLANE INC | OPLN | 1,068,163 | $30.7M | 1.13% |
| 36 | ATS CORPORATION | ATS | 1,166,007 | $30.5M | 1.12% |
| 37 | HDFC BANK LTD | HDB | 878,938 | $30.0M | 1.10% |
| 38 | IQVIA HLDGS INC | IQV | 128,464 | $24.4M | 0.90% |
| 39 | BOOKING HOLDINGS INC | BKNG | 4,448 | $24.0M | 0.88% |
| 40 | ALIGN TECHNOLOGY INC | ALGN | 191,320 | $24.0M | 0.88% |
| 41 | S&P GLOBAL INC | SPGI | 49,179 | $23.9M | 0.88% |
| 42 | BROOKFIELD ASSET MANAGMT LTD | 113004105 | 346,484 | $19.7M | 0.73% |
| 43 | TJX COS INC NEW | 872540109 | 125,404 | $18.1M | 0.67% |
| 44 | LYONDELLBASELL INDUSTRIES N | LYB | 329,029 | $16.1M | 0.59% |
| 45 | HEALTHCARE SVCS GROUP INC | 421906108 | 939,641 | $15.8M | 0.58% |
| 46 | ROYALTY PHARMA PLC | RPRX | 426,072 | $15.0M | 0.55% |
| 47 | NEWMONT CORP | NEMCL | 174,701 | $14.7M | 0.54% |
| 48 | BIO RAD LABS INC | 090572207 | 51,918 | $14.6M | 0.54% |
| 49 | VAIL RESORTS INC | MTN | 96,066 | $14.4M | 0.53% |
| 50 | ENVISTA HOLDINGS CORPORATION | NVST | 699,446 | $14.2M | 0.52% |
| 51 | AIR LEASE CORP | AIIR | 221,772 | $14.2M | 0.52% |
| 52 | ALPHABET INC | GOOG | 56,316 | $13.7M | 0.50% |
| 53 | C H ROBINSON WORLDWIDE INC | CHRW | 102,502 | $13.6M | 0.50% |
| 54 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 48,714 | $13.6M | 0.50% |
| 55 | DOLLAR TREE INC | DLTR | 143,528 | $13.5M | 0.50% |
| 56 | BAKER HUGHES COMPANY | BKR | 265,494 | $12.9M | 0.48% |
| 57 | ARCHER DANIELS MIDLAND CO | ADM | 215,257 | $12.9M | 0.47% |
| 58 | SEALED AIR CORP NEW | SE | 363,588 | $12.9M | 0.47% |
| 59 | WESCO INTL INC | 95082P105 | 57,514 | $12.2M | 0.45% |
| 60 | HENRY SCHEIN INC | HSIC | 171,888 | $11.4M | 0.42% |
| 61 | NLIGHT INC | LASR | 366,148 | $10.8M | 0.40% |
| 62 | ROGERS CORP | ROG | 129,314 | $10.4M | 0.38% |
| 63 | SMURFIT WESTROCK PLC | SW | 243,366 | $10.4M | 0.38% |
| 64 | FREEPORT-MCMORAN INC | FCX | 249,302 | $9.8M | 0.36% |
| 65 | VONTIER CORPORATION | VNT | 227,373 | $9.5M | 0.35% |
| 66 | WELLS FARGO CO NEW | 949746101 | 109,742 | $9.2M | 0.34% |
| 67 | FTI CONSULTING INC | FCN | 56,830 | $9.2M | 0.34% |
| 68 | WILLSCOT HLDGS CORP | WSC | 422,827 | $8.9M | 0.33% |
| 69 | AXALTA COATING SYS LTD | AXTA | 277,910 | $8.0M | 0.29% |
| 70 | TELEFLEX INCORPORATED | TFX | 64,787 | $7.9M | 0.29% |
| 71 | WEYERHAEUSER CO MTN BE | WY | 313,004 | $7.8M | 0.29% |
| 72 | DONNELLEY FINL SOLUTIONS INC | 25787G100 | 149,412 | $7.7M | 0.28% |
| 73 | COCA COLA CONS INC | COKE | 63,710 | $7.5M | 0.27% |
| 74 | TERADATA CORP DEL | TDC | 336,163 | $7.2M | 0.27% |
| 75 | FLUTTER ENTMT PLC | G3643J108 | 24,983 | $6.3M | 0.23% |
| 76 | BARRICK MNG CORP | 06849F108 | 151,860 | $5.0M | 0.18% |
| 77 | CARMAX INC | KMX | 97,155 | $4.4M | 0.16% |
| 78 | INMODE LTD | INMD | 187,259 | $2.8M | 0.10% |