13F HOLDINGS REPORT
Marathon Asset Management Ltd
Quarter ended Q4 2025 · Filed February 6, 2026 · Accession 0001861026-26-000004
Total Value
$2.60B
Positions
77
Other Managers
0
Confidential Omitted
No
Holdings (77)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | Amazon.com Inc | AMZN | 506,735 | $116.9M | 4.50% |
| 2 | CNH Industrial NV | N20944109 | 11,917,195 | $109.9M | 4.23% |
| 3 | Alphabet Inc. - Class A | GOOG | 344,933 | $108.0M | 4.15% |
| 4 | Coca-Cola Europacific Partners plc | CCEP | 1,127,175 | $102.2M | 3.93% |
| 5 | Southern Copper Corp | SCCO | 646,882 | $92.8M | 3.57% |
| 6 | Brookfield Asset Manage-CL A | 11271J107 | 1,962,979 | $90.2M | 3.47% |
| 7 | Elevance Health Inc | ELV | 246,811 | $86.5M | 3.33% |
| 8 | Microsoft Corp | MSFT | 169,785 | $82.1M | 3.16% |
| 9 | Bank of Nova Scotia | 064149107 | 1,094,126 | $80.8M | 3.11% |
| 10 | Meta Platforms Inc | META | 95,985 | $63.4M | 2.44% |
| 11 | Millicom Intl Cellular - SDR | L6388F110 | 1,101,022 | $61.1M | 2.35% |
| 12 | Franco-Nevada Corp | FNV | 288,741 | $59.9M | 2.31% |
| 13 | NVIDIA Corp | NVDA | 311,243 | $58.0M | 2.23% |
| 14 | Cemex Sab de CV | CXMSF | 4,970,608 | $57.1M | 2.20% |
| 15 | Canadian Natural Resources | 136385101 | 1,600,148 | $54.9M | 2.11% |
| 16 | Micron Technology Inc | MU | 183,641 | $52.4M | 2.02% |
| 17 | Vipshop Holdings Ltd | VIPS | 2,942,551 | $52.1M | 2.00% |
| 18 | Laureate Education Inc | LAUR | 1,508,050 | $50.8M | 1.95% |
| 19 | Thermo Fisher Scientific Inc | TMO | 85,546 | $49.6M | 1.91% |
| 20 | Markel Corp | MKL | 22,986 | $49.4M | 1.90% |
| 21 | COPA Holdings SA-Class A | CPA | 409,572 | $49.4M | 1.90% |
| 22 | Gildan Activewear Inc | GIL | 744,881 | $46.6M | 1.79% |
| 23 | Visa Inc Class A | V | 129,271 | $45.3M | 1.74% |
| 24 | Transunion | TRU | 527,752 | $45.3M | 1.74% |
| 25 | Tencent Music Ent - Class A | XHLD | 2,305,413 | $40.4M | 1.55% |
| 26 | Canadian Pacific Kansas City | CP | 528,966 | $39.1M | 1.50% |
| 27 | Mastercard Inc - Class A | MA | 67,456 | $38.4M | 1.48% |
| 28 | HDFC Bank Limited | HDB | 973,218 | $35.6M | 1.37% |
| 29 | Progressive Corp | 743315103 | 154,309 | $35.1M | 1.35% |
| 30 | Paycom Software Inc | PAYC | 205,170 | $32.7M | 1.26% |
| 31 | Fiserv Inc | FISV | 477,139 | $32.0M | 1.23% |
| 32 | S&P Global Inc | SPGI | 59,026 | $30.8M | 1.19% |
| 33 | Interactive Brokers GRO-CL A | 45841N107 | 477,442 | $30.7M | 1.18% |
| 34 | ATS CN | ATS | 1,097,711 | $30.3M | 1.16% |
| 35 | Kar Auction Services Inc | OPLN | 973,566 | $29.0M | 1.12% |
| 36 | CME Group Inc | CME | 105,672 | $28.9M | 1.11% |
| 37 | Oracle Corp | ORCL-PD | 144,824 | $28.2M | 1.09% |
| 38 | Align Technology Inc | ALGN | 176,586 | $27.6M | 1.06% |
| 39 | Autodesk Inc | ADSK | 91,230 | $27.0M | 1.04% |
| 40 | Iqvia Holdings Inc | IQV | 118,577 | $26.7M | 1.03% |
| 41 | Booking Holdings Inc. | BKNG | 4,112 | $22.0M | 0.85% |
| 42 | TJX Companies Inc | 872540109 | 114,191 | $17.5M | 0.67% |
| 43 | Brookfield Asset Mgmt-A-W/I | 113004105 | 326,021 | $17.1M | 0.66% |
| 44 | Healthcare Services Group | 421906108 | 856,431 | $16.4M | 0.63% |
| 45 | Dollar Tree Inc | DLTR | 130,810 | $16.1M | 0.62% |
| 46 | Newmont Corp | NEMCL | 159,017 | $15.9M | 0.61% |
| 47 | C H Robinson Worldwide Inc | CHRW | 93,425 | $15.1M | 0.58% |
| 48 | Royalty Pharma Plc-CL A | RPRX | 388,226 | $15.0M | 0.58% |
| 49 | Bio-Rad Laboratories-A | 090572207 | 47,292 | $14.3M | 0.55% |
| 50 | Envista Holdings Corp | NVST | 637,484 | $13.8M | 0.53% |
| 51 | Sealed Air Corp | SE | 331,385 | $13.7M | 0.53% |
| 52 | Taiwan Semiconductor Manufacturing Co Ltd | 874039100 | 43,543 | $13.3M | 0.51% |
| 53 | Lyondellbasell Indu-CL A | LYB | 304,367 | $13.2M | 0.51% |
| 54 | Wesco International Inc | 95082P105 | 52,418 | $12.8M | 0.49% |
| 55 | Teleflex Inc | TFX | 102,894 | $12.6M | 0.48% |
| 56 | Freeport-McMoran Copper | FCX | 238,706 | $12.1M | 0.47% |
| 57 | Henry Schein Inc | HSIC | 156,665 | $11.8M | 0.46% |
| 58 | Vail Resorts Inc | MTN | 87,443 | $11.8M | 0.45% |
| 59 | Air Lease Corp | AIIR | 175,295 | $11.3M | 0.43% |
| 60 | Archer-Daniels-Midland Co. | ADM | 196,188 | $11.3M | 0.43% |
| 61 | Baker Hughes Co | BKR | 241,979 | $11.0M | 0.42% |
| 62 | Rogers Corp | ROG | 117,826 | $10.8M | 0.42% |
| 63 | Smurfit Westrock Plc | SW | 266,831 | $10.3M | 0.40% |
| 64 | Teradata Corp | TDC | 306,300 | $9.3M | 0.36% |
| 65 | Wells Fargo | 949746101 | 100,021 | $9.3M | 0.36% |
| 66 | Coca-Cola Consolidated Inc | COKE | 58,068 | $8.9M | 0.34% |
| 67 | FTI Consulting Inc | FCN | 51,731 | $8.8M | 0.34% |
| 68 | Masterbrand Inc | MBC | 742,876 | $8.2M | 0.32% |
| 69 | Axalta Coating Systems Ltd | AXTA | 253,293 | $8.2M | 0.31% |
| 70 | Alphabet Inc. - Class A | GOOG | 24,692 | $7.7M | 0.30% |
| 71 | Vontier Corp | VNT | 207,242 | $7.7M | 0.30% |
| 72 | Willscot Holdings Corp | WSC | 384,873 | $7.2M | 0.28% |
| 73 | Weyerhaeuser Co | WY | 280,608 | $6.6M | 0.26% |
| 74 | Donnelley Financial Solution | 25787G100 | 136,182 | $6.4M | 0.24% |
| 75 | Barrick Gold Corp | 06849F108 | 145,214 | $6.3M | 0.24% |
| 76 | Paddy Power Plc | G3643J108 | 23,089 | $5.0M | 0.19% |
| 77 | Inmode Ltd | INMD | 187,259 | $2.8M | 0.11% |