MARATHON ASSET MANAGEMENT LTD

Filed: 4/24/2025ACC: 0001861026-25-000006

📋 What this filing means

MARATHON ASSET MANAGEMENT LTD filed this quarterly 13F‑HR report disclosing 81 equity positions with a total reported market value of $3.27B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$3.27B

Total AUM (reported)

60.10M

Total Shares

Allocation by class

COMMON$3.27B100.0%

Portfolio Concentration

Top 3$672.94M20.6%

4–10$645.30M19.7%

11–25$823.41M25.2%

Rest$1.13B34.5%

Top 3 weight

20.6%

Top 10 weight

40.3%

Voting Authority Distribution

Total shares with voting rights: 60.10M

Sole

Full voting authority

41.12M

% of voting shares68.4%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

18.98M

% of voting shares31.6%

Investment Discretion (by position count)

Sole81

Shared0

Other0

Dominant voting typeSole · 68.4% of voting shares

Institutional Holdings81

Rows:

FLUTTER ENTMT PLC

SOLE

COMMON

Shares1.77M

TypeSH

Market value$391.88M

11.98%

Sole

1.54M

Shared

0.00

None

230.50K

CNH INDL N V

SOLE

COMMON

Shares13.75M

TypeSH

Market value$168.83M

5.16%

Sole

13.40M

Shared

0.00

None

343.68K

AMAZON COM INC

SOLE

COMMON

Shares591.04K

TypeSH

Market value$112.23M

3.43%

Sole

571.60K

Shared

0.00

None

19.45K

COCA-COLA EUROPACIFIC PARTNE

SOLE

COMMON

Shares1.23M

TypeSH

Market value$107.04M

3.27%

Sole

1.06M

Shared

0.00

None

165.21K

ELEVANCE HEALTH INC

SOLE

COMMON

Shares240.58K

TypeSH

Market value$104.64M

3.20%

Sole

232.88K

Shared

0.00

None

7.70K

FISERV INC

SOLE

COMMON

Shares424.84K

TypeSH

Market value$93.82M

2.87%

Sole

411.46K

Shared

0.00

None

13.38K

META PLATFORMS INC

SOLE

COMMON

Shares153.67K

TypeSH

Market value$88.57M

2.71%

Sole

148.79K

Shared

0.00

None

4.88K

MICROSOFT CORP

SOLE

COMMON

Shares232.79K

TypeSH

Market value$87.38M

2.67%

Sole

224.97K

Shared

0.00

None

7.82K

BROOKFIELD CORP

SOLE

COMMON

Shares1.60M

TypeSH

Market value$83.47M

2.55%

Sole

1.09M

Shared

0.00

None

505.75K

ALPHABET INC

SOLE

COMMON

Shares519.80K

TypeSH

Market value$80.38M

2.46%

Sole

504.32K

Shared

0.00

None

15.48K

SOUTHERN COPPER CORP

SOLE

COMMON

Shares753.50K

TypeSH

Market value$70.42M

2.15%

Sole

615.76K

Shared

0.00

None

137.74K

VIPSHOP HLDGS LTD

SOLE

COMMON

Shares4.14M

TypeSH

Market value$64.93M

1.98%

Sole

0.00

Shared

0.00

None

4.14M

VISA INC

SOLE

COMMON

Shares184.93K

TypeSH

Market value$64.81M

1.98%

Sole

179.02K

Shared

0.00

None

5.90K

MARKEL GROUP INC

SOLE

COMMON

Shares33.04K

TypeSH

Market value$61.77M

1.89%

Sole

31.97K

Shared

0.00

None

1.07K

CANADIAN NAT RES LTD

SOLE

COMMON

Shares1.94M

TypeSH

Market value$60.53M

1.85%

Sole

1.31M

Shared

0.00

None

630.03K

TRANSUNION

SOLE

COMMON

Shares702.83K

TypeSH

Market value$58.32M

1.78%

Sole

680.43K

Shared

0.00

None

22.40K

PAYCOM SOFTWARE INC

SOLE

COMMON

Shares264.98K

TypeSH

Market value$57.89M

1.77%

Sole

256.36K

Shared

0.00

None

8.62K

FRANCO NEV CORP

SOLE

COMMON

Shares351.68K

TypeSH

Market value$55.31M

1.69%

Sole

240K

Shared

0.00

None

111.68K

MASTERCARD INCORPORATED

SOLE

COMMON

Shares96.40K

TypeSH

Market value$52.75M

1.61%

Sole

93.33K

Shared

0.00

None

3.07K

PROGRESSIVE CORP

SOLE

COMMON

Shares167.79K

TypeSH

Market value$47.49M

1.45%

Sole

161.70K

Shared

0.00

None

6.09K

TENCENT MUSIC ENTMT GROUP

SOLE

COMMON

Shares3.28M

TypeSH

Market value$47.22M

1.44%

Sole

0.00

Shared

0.00

None

3.28M

NVIDIA CORPORATION

SOLE

COMMON

Shares428.54K

TypeSH

Market value$46.46M

1.42%

Sole

412.81K

Shared

0.00

None

15.72K

COPA HOLDINGS SA

SOLE

COMMON

Shares493.21K

TypeSH

Market value$45.60M

1.39%

Sole

445.52K

Shared

0.00

None

47.69K

CANADIAN PACIFIC KANSAS CITY

SOLE

COMMON

Shares644.34K

TypeSH

Market value$45.30M

1.38%

Sole

439.83K

Shared

0.00

None

204.51K

ORACLE CORP

SOLE

COMMON

Shares319.12K

TypeSH

Market value$44.62M

1.36%

Sole

308.50K

Shared

0.00

None

10.62K

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
FLUTTER ENTMT PLCSOLE	COMMON	1.77M	SH	$391.88M 11.98%	1.54M	230.50K
CNH INDL N VSOLE	COMMON	13.75M	SH	$168.83M 5.16%	13.40M	343.68K
AMAZON COM INCSOLE	COMMON	591.04K	SH	$112.23M 3.43%	571.60K	19.45K
COCA-COLA EUROPACIFIC PARTNESOLE	COMMON	1.23M	SH	$107.04M 3.27%	1.06M	165.21K
ELEVANCE HEALTH INCSOLE	COMMON	240.58K	SH	$104.64M 3.20%	232.88K	7.70K
FISERV INCSOLE	COMMON	424.84K	SH	$93.82M 2.87%	411.46K	13.38K
META PLATFORMS INCSOLE	COMMON	153.67K	SH	$88.57M 2.71%	148.79K	4.88K
MICROSOFT CORPSOLE	COMMON	232.79K	SH	$87.38M 2.67%	224.97K	7.82K
BROOKFIELD CORPSOLE	COMMON	1.60M	SH	$83.47M 2.55%	1.09M	505.75K
ALPHABET INCSOLE	COMMON	519.80K	SH	$80.38M 2.46%	504.32K	15.48K
SOUTHERN COPPER CORPSOLE	COMMON	753.50K	SH	$70.42M 2.15%	615.76K	137.74K
VIPSHOP HLDGS LTDSOLE	COMMON	4.14M	SH	$64.93M 1.98%	0.00	4.14M
VISA INCSOLE	COMMON	184.93K	SH	$64.81M 1.98%	179.02K	5.90K
MARKEL GROUP INCSOLE	COMMON	33.04K	SH	$61.77M 1.89%	31.97K	1.07K
CANADIAN NAT RES LTDSOLE	COMMON	1.94M	SH	$60.53M 1.85%	1.31M	630.03K
TRANSUNIONSOLE	COMMON	702.83K	SH	$58.32M 1.78%	680.43K	22.40K
PAYCOM SOFTWARE INCSOLE	COMMON	264.98K	SH	$57.89M 1.77%	256.36K	8.62K
FRANCO NEV CORPSOLE	COMMON	351.68K	SH	$55.31M 1.69%	240K	111.68K
MASTERCARD INCORPORATEDSOLE	COMMON	96.40K	SH	$52.75M 1.61%	93.33K	3.07K
PROGRESSIVE CORPSOLE	COMMON	167.79K	SH	$47.49M 1.45%	161.70K	6.09K
TENCENT MUSIC ENTMT GROUPSOLE	COMMON	3.28M	SH	$47.22M 1.44%	0.00	3.28M
NVIDIA CORPORATIONSOLE	COMMON	428.54K	SH	$46.46M 1.42%	412.81K	15.72K
COPA HOLDINGS SASOLE	COMMON	493.21K	SH	$45.60M 1.39%	445.52K	47.69K
CANADIAN PACIFIC KANSAS CITYSOLE	COMMON	644.34K	SH	$45.30M 1.38%	439.83K	204.51K
ORACLE CORPSOLE	COMMON	319.12K	SH	$44.62M 1.36%	308.50K	10.62K

Page 1 of 4