Q3 2026 13F · SEC CIK 1861026

Marathon Asset Management Ltd

Asset managerFiled 2026-10-26 for Q3 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $2.2B
Reported positions: 76
Top holdings a year, 3 yrs: +18.0%
Assets under management: $39.0B

Marathon Asset Management Ltd is an asset manager that reported 76 positions worth $2.2B in its Q3 2026 13F, filed 2026-10-26. Its largest holdings were Cnh Indl N V (CNHI, 6.4%), Coca-Cola Europacific Partne (CCEP, 4.3%), Southern Copper Corp (SCCO, 4.2%). A portfolio copying its top holdings returned 18.0% a year over the last 3 years, against 22.3% for the S&P 500.

Marathon Asset Management Ltd holdings largest 50 of 76 positions.

Weights are shares of the filer's total reported 13F value, compared with Q2 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Marathon Asset Management Ltd 13F holdings
Stock	% of 13F value	Q2 2026	Shares	Share change	Reported value
CNHICnh Indl N V	6.4%	5.1%	10,889,707	-3.2%	$139.9M
CCEPCoca-Cola Europacific Partne	4.3%	4.2%	938,108	-9.6%	$95.4M
SCCOSouthern Copper Corp	4.2%	3.4%	452,075	-5.1%	$91.6M
AMZNAmazon Com Inc	3.8%	4.1%	332,912	-22.1%	$83.0M
GOOGLAlphabet Inc	3.6%	4.4%	230,842	-23.6%	$79.4M
TIGOMillicom Intl Cellular S A	3.5%	3.9%	896,086	-16.0%	$78.1M
NVDANvidia Corporation	3.1%	2.3%	296,231	+5.6%	$67.7M
ELVElevance Health Inc Formerly	3.0%	3.4%	172,037	-21.6%	$66.9M
BNSBank Nova Scotia B C	3.0%	3.4%	729,102	-23.3%	$66.5M
MSFTMicrosoft Corp	2.3%	2.4%	99,844	-37.5%	$51.2M
CPACopa Holdings SA	2.3%	2.6%	384,695	-7.2%	$50.7M
CNQCanadian Nat Res Ltd Med Ter	2.3%	2.3%	1,060,802	-23.8%	$50.5M
LAURLaureate Ed Inc	2.2%	2.1%	1,270,604	-9.7%	$48.5M
BNBrookfield Corp	2.2%	3.0%	1,306,677	-23.4%	$47.8M
METAMeta Platforms Inc	2.2%	1.9%	65,271	-23.4%	$47.3M
MUMicron Technology Inc	2.1%	2.5%	43,949	-17.9%	$46.8M
FNVFranco Nev Corp	2.1%	2.1%	192,300	-23.4%	$45.9M
VVisa Inc	1.9%	2.2%	118,834	-24.8%	$42.7M
WFGWest Fraser Timber Ltd	1.9%	—	606,680	—	$42.3M
TMOThermo Fisher Scientific Inc	1.9%	1.6%	60,648	-20.4%	$41.0M
CXCemex Sab de Cv Spon ADR New	1.8%	2.1%	4,068,080	-6.9%	$38.7M
BVNCompania de Minas Buenaventura	1.7%	—	1,217,012	—	$38.4M
GILGildan Activewear Inc	1.6%	2.2%	809,891	-23.4%	$34.6M
IBKRInteractive Brokers Group in	1.5%	1.5%	394,086	-8.4%	$33.7M
GFLGfl Environmental Inc	1.5%	—	771,499	—	$32.3M
ORCLOracle Corp	1.5%	1.4%	234,632	-1.1%	$32.2M
VISTVista Energy S.a.b. de C.v.	1.4%	—	474,648	—	$31.0M
TRUTransunion	1.4%	1.9%	501,781	-21.8%	$30.7M
CPCanadian Pacific Kansas City	1.4%	1.6%	352,295	-23.4%	$30.1M
TSMTaiwan Semiconductor Manufac	1.3%	1.5%	61,503	-21.2%	$28.1M
MKLMarkel Group Inc	1.2%	1.6%	15,785	-22.7%	$27.0M
PGRProgressive Corp	1.2%	1.2%	127,210	-8.5%	$26.4M
MAMastercard Incorporated	1.1%	1.3%	45,458	-24.0%	$24.9M
CMECme Group Inc	1.0%	0.9%	87,498	-8.1%	$22.9M
IQVIqvia Hldgs Inc	1.0%	0.8%	82,916	-21.3%	$22.3M
ICEIntercontinental Exchange Inc	1.0%	—	141,027	—	$21.4M
SPGIS&p Global Inc	0.9%	1.1%	50,797	-20.4%	$20.0M
PAYCPaycom Software Inc	0.9%	0.9%	88,557	-51.5%	$19.3M
FISVFiserv Inc	0.8%	1.0%	375,730	-21.6%	$17.0M
ADSKAutodesk Inc	0.7%	0.6%	75,243	-8.4%	$15.7M
KAROpenlane Inc	0.7%	0.8%	451,917	-8.5%	$15.4M
SKYChampion Homes Inc	0.7%	0.9%	179,941	-24.6%	$15.4M
RPRXRoyalty Pharma PLC	0.7%	0.7%	261,447	-8.6%	$15.3M
BIOBio Rad Labs Inc	0.7%	—	38,371	—	$14.5M
HCSGHealthcare Svcs Group Inc	0.6%	0.8%	694,704	-8.6%	$14.2M
FCXFreeport Mcmoran Inc	0.6%	—	200,252	—	$14.0M
TFXTeleflex Incorporated	0.6%	0.7%	109,764	-24.5%	$13.7M
ATSAts Corporation	0.6%	1.1%	732,044	-23.3%	$13.3M
NEMNewmont Corp	0.6%	—	114,720	—	$13.2M
SWSmurfit Westrock PLC F	0.6%	0.6%	294,699	-8.6%	$13.0M

What Marathon Asset Management Ltd bought and sold in Q3 2026, against Q2 2026.

New positions

Q2 2026's filing was too long to tell new positions apart.

Share counts compared with the Q2 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +9.7% /yr; S&P 500 +11.7%
3 years: +18.0% /yr; S&P 500 +22.3%
5 years: +8.1% /yr; S&P 500 +10.2%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q3 2026	$2.2B	76
Q2 2026	$2.5B	74
Q1 2026	$2.6B	74
Q4 2025	$2.6B	77
Q3 2025	$2.7B	78
Q2 2025	$3.1B	79
Q1 2025	$3.3B	81
Q4 2024	$3.6B	81
Q3 2024	$3.6B	82
Q2 2024	$3.2B	82
Q1 2024	$3.7B	86
Q4 2023	$3.6B	87

Questions about Marathon Asset Management Ltd's portfolio

What stocks does Marathon Asset Management Ltd own?

Marathon Asset Management Ltd's latest 13F, for Q3 2026 and filed Oct 26, 2026, lists 76 positions worth $2.2B. The largest are Cnh Indl N V (CNHI) at 6.4%, Coca-Cola Europacific Partne (CCEP) at 4.3%, Southern Copper Corp (SCCO) at 4.2%, Amazon Com Inc (AMZN) at 3.8% and Alphabet Inc (GOOGL) at 3.6%.

What did Marathon Asset Management Ltd buy last quarter?

In Q3 2026, Marathon Asset Management Ltd added Nvidia Corporation (NVDA) (+5.6% shares), compared with its Q2 2026 filing.

What did Marathon Asset Management Ltd sell last quarter?

In Q3 2026, Marathon Asset Management Ltd cut from its top 50 Vipshop Holdings Ltd (VIPS), cut from its top 50 Align Technology Inc (ALGN), cut from its top 50 Hdfc Bank Ltd (HDB), cut from its top 50 C H Robinson Worldwide in (CHRW), cut from its top 50 Tjx Cos Inc New (TJX), Paycom Software Inc (PAYC) (-51.5% shares), Microsoft Corp (MSFT) (-37.5% shares) and Visa Inc (V) (-24.8% shares), compared with its Q2 2026 filing.

How has Marathon Asset Management Ltd's portfolio performed?

A portfolio copying Marathon Asset Management Ltd's 20 largest 13F holdings each quarter, from the day each filing was public, returned +18.0% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: +9.7% against +11.7%. Over 5 years: +8.1% a year against +10.2%.

When is Marathon Asset Management Ltd's next 13F filing due?

13F filings are due 45 days after each quarter ends. Marathon Asset Management Ltd's filing for the quarter ending Dec 31, 2026 is due by Feb 14, 2027; this page updates the day after it is published.

How much money does Marathon Asset Management Ltd manage?

Marathon Asset Management Ltd reported $39.0B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $2.2B.