MARATHON ASSET MANAGEMENT LTD

Filed: 2/6/2026ACC: 0001861026-26-000004

📋 What this filing means

MARATHON ASSET MANAGEMENT LTD filed this quarterly 13F‑HR report disclosing 77 equity positions with a total reported market value of $2.60B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

Positions

$2.60B

Total AUM (reported)

48.87M

Total Shares

Allocation by class

COMMON$2.60B100.0%

Portfolio Concentration

Top 3$334.77M12.9%

4–10$598.09M23.0%

11–25$772.40M29.7%

Rest$893.94M34.4%

Top 3 weight

12.9%

Top 10 weight

35.9%

Voting Authority Distribution

Total shares with voting rights: 48.87M

Sole

Full voting authority

33.02M

% of voting shares67.6%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

15.85M

% of voting shares32.4%

Investment Discretion (by position count)

Sole77

Shared0

Other0

Dominant voting typeSole · 67.6% of voting shares

Institutional Holdings77

Rows:

Amazon.com Inc

SOLE

COMMON

Shares506.74K

TypeSH

Market value$116.93M

4.50%

Sole

483.67K

Shared

0.00

None

23.06K

CNH Industrial NV

SOLE

COMMON

Shares11.92M

TypeSH

Market value$109.88M

4.23%

Sole

11.58M

Shared

0.00

None

341.72K

Alphabet Inc. - Class A

SOLE

COMMON

Shares344.93K

TypeSH

Market value$107.96M

4.15%

Sole

330.24K

Shared

0.00

None

14.70K

Coca-Cola Europacific Partners plc

SOLE

COMMON

Shares1.13M

TypeSH

Market value$102.23M

3.93%

Sole

973.32K

Shared

0.00

None

153.86K

Southern Copper Corp

SOLE

COMMON

Shares646.88K

TypeSH

Market value$92.81M

3.57%

Sole

505.06K

Shared

0.00

None

141.82K

Brookfield Asset Manage-CL A

SOLE

COMMON

Shares1.96M

TypeSH

Market value$90.25M

3.47%

Sole

1.27M

Shared

0.00

None

693.12K

Elevance Health Inc

SOLE

COMMON

Shares246.81K

TypeSH

Market value$86.52M

3.33%

Sole

235.74K

Shared

0.00

None

11.08K

Microsoft Corp

SOLE

COMMON

Shares169.78K

TypeSH

Market value$82.11M

3.16%

Sole

161.76K

Shared

0.00

None

8.03K

Bank of Nova Scotia

SOLE

COMMON

Shares1.09M

TypeSH

Market value$80.81M

3.11%

Sole

706.88K

Shared

0.00

None

387.24K

Meta Platforms Inc

SOLE

COMMON

Shares95.98K

TypeSH

Market value$63.36M

2.44%

Sole

91.79K

Shared

0.00

None

4.19K

Millicom Intl Cellular - SDR

SOLE

COMMON

Shares1.10M

TypeSH

Market value$61.07M

2.35%

Sole

863K

Shared

0.00

None

238.03K

Franco-Nevada Corp

SOLE

COMMON

Shares288.74K

TypeSH

Market value$59.93M

2.31%

Sole

186.70K

Shared

0.00

None

102.04K

NVIDIA Corp

SOLE

COMMON

Shares311.24K

TypeSH

Market value$58.05M

2.23%

Sole

294.61K

Shared

0.00

None

16.63K

Cemex Sab de CV

SOLE

COMMON

Shares4.97M

TypeSH

Market value$57.11M

2.20%

Sole

0.00

Shared

0.00

None

4.97M

Canadian Natural Resources

SOLE

COMMON

Shares1.60M

TypeSH

Market value$54.94M

2.11%

Sole

1.02M

Shared

0.00

None

575.63K

Micron Technology Inc

SOLE

COMMON

Shares183.64K

TypeSH

Market value$52.43M

2.02%

Sole

173.82K

Shared

0.00

None

9.82K

Vipshop Holdings Ltd

SOLE

COMMON

Shares2.94M

TypeSH

Market value$52.05M

2.00%

Sole

0.00

Shared

0.00

None

2.94M

Laureate Education Inc

SOLE

COMMON

Shares1.51M

TypeSH

Market value$50.78M

1.95%

Sole

1.19M

Shared

0.00

None

315.57K

Thermo Fisher Scientific Inc

SOLE

COMMON

Shares85.55K

TypeSH

Market value$49.60M

1.91%

Sole

81.64K

Shared

0.00

None

3.90K

Markel Corp

SOLE

COMMON

Shares22.99K

TypeSH

Market value$49.41M

1.90%

Sole

21.97K

Shared

0.00

None

1.01K

COPA Holdings SA-Class A

SOLE

COMMON

Shares409.57K

TypeSH

Market value$49.40M

1.90%

Sole

363.32K

Shared

0.00

None

46.25K

Gildan Activewear Inc

SOLE

COMMON

Shares744.88K

TypeSH

Market value$46.62M

1.79%

Sole

481.64K

Shared

0.00

None

263.24K

Visa Inc Class A

SOLE

COMMON

Shares129.27K

TypeSH

Market value$45.34M

1.74%

Sole

123.67K

Shared

0.00

None

5.61K

Transunion

SOLE

COMMON

Shares527.75K

TypeSH

Market value$45.25M

1.74%

Sole

504.88K

Shared

0.00

None

22.88K

Tencent Music Ent - Class A

SOLE

COMMON

Shares2.31M

TypeSH

Market value$40.41M

1.55%

Sole

0.00

Shared

0.00

None

2.31M

Issuer	Class	Shares	Type	Value / Portfolio %	Voting — Sole	None
Amazon.com IncSOLE	COMMON	506.74K	SH	$116.93M 4.50%	483.67K	23.06K
CNH Industrial NVSOLE	COMMON	11.92M	SH	$109.88M 4.23%	11.58M	341.72K
Alphabet Inc. - Class ASOLE	COMMON	344.93K	SH	$107.96M 4.15%	330.24K	14.70K
Coca-Cola Europacific Partners plcSOLE	COMMON	1.13M	SH	$102.23M 3.93%	973.32K	153.86K
Southern Copper CorpSOLE	COMMON	646.88K	SH	$92.81M 3.57%	505.06K	141.82K
Brookfield Asset Manage-CL ASOLE	COMMON	1.96M	SH	$90.25M 3.47%	1.27M	693.12K
Elevance Health IncSOLE	COMMON	246.81K	SH	$86.52M 3.33%	235.74K	11.08K
Microsoft CorpSOLE	COMMON	169.78K	SH	$82.11M 3.16%	161.76K	8.03K
Bank of Nova ScotiaSOLE	COMMON	1.09M	SH	$80.81M 3.11%	706.88K	387.24K
Meta Platforms IncSOLE	COMMON	95.98K	SH	$63.36M 2.44%	91.79K	4.19K
Millicom Intl Cellular - SDRSOLE	COMMON	1.10M	SH	$61.07M 2.35%	863K	238.03K
Franco-Nevada CorpSOLE	COMMON	288.74K	SH	$59.93M 2.31%	186.70K	102.04K
NVIDIA CorpSOLE	COMMON	311.24K	SH	$58.05M 2.23%	294.61K	16.63K
Cemex Sab de CVSOLE	COMMON	4.97M	SH	$57.11M 2.20%	0.00	4.97M
Canadian Natural ResourcesSOLE	COMMON	1.60M	SH	$54.94M 2.11%	1.02M	575.63K
Micron Technology IncSOLE	COMMON	183.64K	SH	$52.43M 2.02%	173.82K	9.82K
Vipshop Holdings LtdSOLE	COMMON	2.94M	SH	$52.05M 2.00%	0.00	2.94M
Laureate Education IncSOLE	COMMON	1.51M	SH	$50.78M 1.95%	1.19M	315.57K
Thermo Fisher Scientific IncSOLE	COMMON	85.55K	SH	$49.60M 1.91%	81.64K	3.90K
Markel CorpSOLE	COMMON	22.99K	SH	$49.41M 1.90%	21.97K	1.01K
COPA Holdings SA-Class ASOLE	COMMON	409.57K	SH	$49.40M 1.90%	363.32K	46.25K
Gildan Activewear IncSOLE	COMMON	744.88K	SH	$46.62M 1.79%	481.64K	263.24K
Visa Inc Class ASOLE	COMMON	129.27K	SH	$45.34M 1.74%	123.67K	5.61K
TransunionSOLE	COMMON	527.75K	SH	$45.25M 1.74%	504.88K	22.88K
Tencent Music Ent - Class ASOLE	COMMON	2.31M	SH	$40.41M 1.55%	0.00	2.31M

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