Marathon Asset Management LLP — AI-Powered 13F Analysis

CIK: 0001040592

High-turnover trader

Total reported value

$8.3B

Reporting period: 2021-06-30 · Number of holdings: 98

MARATHON ASSET MANAGEMENT LLP disclosed 98 holdings in its latest 13F filing for the period ending 2021-06-30, with total reported value of $8.3B and a quarterly turnover rate of 93.1%.

Browse other institutions with $1B to $10B AUM Browse other institutions starting with "M"

Personality snowflake

Concentration: 0
Portfolio Stability: 93.06
Momentum/Contrarian: 50
Sector conviction: 49.85
Diversification: 0
Sizing Uniformity: —

Marathon Asset Management LLP's disclosed holdings carry a Herfindahl concentration index of 0.017 — mathematically equivalent to about 59 equally-sized positions, close to its 98 actual disclosed holdings. Value is spread relatively evenly across the portfolio rather than concentrated in a handful of names.

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.82), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Sector classification currently covers about 43% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.

Recent moves

Sold out ORCL
Sold out JNJ
Sold out BKNG
Sold out GOOGL
Sold out BIDU
Sold out WFC

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	ORCL	Oracle CORP	Stock-Tech	3.70%	-3.86%	EXIT
2	BKNG	Booking Holdings INC	Stock-Consumer Disc	3.63%	-3.02%	EXIT
3	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	3.15%	-2.92%	EXIT
4	JNJ	Johnson & Johnson	Stock-Healthcare	3.05%	-3.51%	EXIT
5	GOOG	Alphabet Inc-cl C	Stock-Comm Services	2.92%	-1.94%	EXIT
6	TXN	Texas Instruments INC	Stock-Tech	2.90%	-2.35%	EXIT
7	META	Meta Platforms Inc-class A	Stock-Comm Services	2.88%	-2.25%	EXIT
8	BIDU	Baidu INC - Spon Adr	Stock-Comm Services	2.25%	-2.68%	EXIT
9	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	2.21%	-1.15%	EXIT
10	AZO	Autozone INC	Stock-Consumer Disc	2.19%	-1.88%	EXIT
11	TRV	Travelers Cos Inc/the	Stock-Financials	2.18%	-1.97%	EXIT
12	MRK	Merck & Co. INC.	Stock-Healthcare	2.09%	-2.30%	EXIT
13	HSY	Hershey Co/the	Stock-Consumer Staples	2.02%	-1.57%	EXIT
14	AXP	American Express Co	Stock-Financials	1.85%	-1.53%	EXIT
15	YUMC	Yum China Holdings INC	Stock-Consumer Disc	1.83%	-1.82%	EXIT
16	BAM	Brookfield Asset Management Ltd.	Stock-Financials	1.80%	-2.01%	EXIT
17	WAT	Waters CORP	Stock-Healthcare	1.80%	-1.48%	EXIT
18	TJX	Tjx Companies INC	Stock-Consumer Disc	1.78%	-0.95%	EXIT
19	KMX	Carmax INC	Stock-Consumer Disc	1.67%	-1.36%	EXIT
20	EA	Electronic Arts INC	Stock-Comm Services	1.67%	-1.21%	EXIT
21	FRCB	First Republic Bank/ca	Stock-Financials	1.57%	-1.21%	EXIT
22	KMB	Kimberly-clark CORP	Stock-Consumer Staples	1.55%	-0.88%	EXIT
23	ADM	Archer-daniels-midland Co	Stock-Consumer Staples	1.49%	-2.35%	EXIT
24	CNQ	Canadian Natural Resources	Stock-Energy	1.44%	—	+110.20%
25	FCN	Fti Consulting INC	Stock-Industrials	1.44%	-1.77%	EXIT
26	LIN	Linde plc	Stock-Materials	1.43%	-0.75%	EXIT
27	CHRW	C.h. Robinson Worldwide INC	Stock-Industrials	1.32%	-1.25%	EXIT
28	KO	The Coca-Cola Company	Stock-Consumer Staples	1.30%	-1.51%	EXIT
29	UPS	United Parcel Service-cl B	Stock-Industrials	1.28%	-1.17%	EXIT
30	PEP	Pepsico INC	Stock-Consumer Staples	1.26%	—	+110.96%
31	PGR	Progressive CORP	Stock-Financials	1.24%	—	+110.62%
32	ATVIEUR	Activision Blizzard INC	Stock-Comm Services	1.18%	—	+109.62%
33	FAST	Fastenal Co	Stock-Industrials	1.16%	-0.84%	EXIT
34	MKL	Markel Group INC	Stock-Financials	1.13%	-1.04%	EXIT
35	G	Genpact Limited	Stock-Tech	1.00%	-1.05%	EXIT
36	WFC	Wells Fargo & Co	Stock-Financials	0.98%	-2.47%	EXIT
37	CP	Canadian Pacific Kansa F	Stock-Industrials	0.98%	-0.79%	EXIT
38	PG	Procter & Gamble Co/the	Stock-Consumer Staples	0.92%	-1.01%	EXIT
39	MXIM	Maxim Integrated Products	Stock-Other	0.92%	-0.87%	EXIT
40	ABX	Barrick Gold CORP	Stock-Financials	0.91%	-1.59%	EXIT
41	ADI	Analog Devices INC	Stock-Tech	0.91%	-0.90%	EXIT
42	MTB	M & T Bank CORP	Stock-Financials	0.91%	—	+58.90%
43	RBAGBP	Ritchie Bros Auctioneers	Stock-Other	0.89%	-0.83%	EXIT
44	GIL	Gildan Activewear INC	Stock-Consumer Disc	0.89%	-0.81%	EXIT
45	PCAR	Paccar INC	Stock-Industrials	0.88%	—	+111.74%
46	HIG	Hartford Insurance Group INC	Stock-Financials	0.88%	-1.04%	EXIT
47	OPLN	Openlane INC	Stock-Other	0.88%	-0.91%	EXIT
48	FMX	Fomento Economico Mex-sp Adr	Stock-Other	0.83%	-0.83%	EXIT
49	PAYX	Paychex INC	Stock-Tech	0.83%	-0.83%	EXIT
50	MRSH	Marsh & Mclennan Cos	Stock-Financials	0.81%	—	—

1–50 of 98

Portfolio Performance

Not enough priced holdings yet to compute performance

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2021-06-30	98	$8.3B	93	1ORCL 2BKNG 3GOOGL Top holdings2021-06-30 1.ORCL 2.BKNG 3.GOOGL 4.JNJ 5.GOOG 6.TXN 7.META 8.BIDU 9.BRK-B 10.AZO
2021-03-31	104	$7.2B	16	1ORCL 2JNJ 3BKNG Top holdings2021-03-31 1.ORCL 2.JNJ 3.BKNG 4.GOOGL 5.BIDU 6.WFC 7.TXN 8.ADM 9.MRK 10.META
2020-12-31	106	$7.1B	25	1BIDU 2ORCL 3JNJ Top holdings2020-12-31 1.BIDU 2.ORCL 3.JNJ 4.BKNG 5.GOOGL 6.MRK 7.META 8.TXN 9.WFC 10.ADM
2020-09-30	108	$6.4B	11	1ORCL 2JNJ 3BIDU Top holdings2020-09-30 1.ORCL 2.JNJ 3.BIDU 4.BKNG 5.GOOGL 6.META 7.ADM 8.BRK-B 9.TXN 10.MRK
2020-06-30	105	$6.5B	25	1ORCL 2JNJ 3BIDU Top holdings2020-06-30 1.ORCL 2.JNJ 3.BIDU 4.GOOGL 5.BKNG 6.META 7.INTC 8.ABX 9.AMZN 10.BRK-B
2020-03-31	105	$5.6B	35	1JNJ 2ORCL 3GOOGL Top holdings2020-03-31 1.JNJ 2.ORCL 3.GOOGL 4.INTC 5.BIDU 6.MRK 7.BKNG 8.BRK-B 9.WFC 10.ADM
2019-12-31	102	$7.6B	13	1WFC 2JNJ 3ORCL Top holdings2019-12-31 1.WFC 2.JNJ 3.ORCL 4.GOOGL 5.BKNG 6.TXN 7.BRK-B 8.INTC 9.MRK 10.BIDU
2019-09-30	105	$7.6B	12	1WFC 2ORCL 3JNJ Top holdings2019-09-30 1.WFC 2.ORCL 3.JNJ 4.TXN 5.MRK 6.BKNG 7.TRV 8.GOOGL 9.USB 10.INTC
2019-06-30	102	$7.8B	15	1JNJ 2ORCL 3WFC Top holdings2019-06-30 1.JNJ 2.ORCL 3.WFC 4.TRV 5.MRK 6.TXN 7.PG 8.BKNG 9.USB 10.INTC
2019-03-31	101	$7.5B	17	1JNJ 2ORCL 3TRV Top holdings2019-03-31 1.JNJ 2.ORCL 3.TRV 4.MRK 5.BIDU 6.PG 7.INTC 8.GOOGL 9.TXN 10.USB
2018-12-31	104	$6.8B	32	1JNJ 2ORCL 3MRK Top holdings2018-12-31 1.JNJ 2.ORCL 3.MRK 4.PG 5.TRV 6.INTC 7.BIDU 8.GOOGL 9.USB 10.BKNG
2018-09-30	103	$7.9B	22	1LVS 2JNJ 3ORCL Top holdings2018-09-30 1.LVS 2.JNJ 3.ORCL 4.BIDU 5.MRK 6.PXGBX 7.TRV 8.GOOGL 9.PG 10.USB
2018-06-30	99	$6.7B	11	1JNJ 2ORCL 3BIDU Top holdings2018-06-30 1.JNJ 2.ORCL 3.BIDU 4.PXGBX 5.MRK 6.HSY 7.TRV 8.GOOGL 9.CNQ 10.INTC
2018-03-31	102	$6.5B	13	1JNJ 2ORCL 3TRV Top holdings2018-03-31 1.JNJ 2.ORCL 3.TRV 4.BIDU 5.HSY 6.PXGBX 7.MRK 8.INTC 9.GOOGL 10.USB
2017-12-31	101	$6.5B	15	1JNJ 2ORCL 3BIDU Top holdings2017-12-31 1.JNJ 2.ORCL 3.BIDU 4.HSY 5.PXGBX 6.TRV 7.USB 8.GOOGL 9.CNQ 10.KO
2017-09-30	104	$6.1B	17	1JNJ 2ORCL 3BIDU Top holdings2017-09-30 1.JNJ 2.ORCL 3.BIDU 4.PXGBX 5.KO 6.USB 7.HSY 8.CNQ 9.BAM 10.GOOGL
2017-06-30	99	$5.8B	35	1JNJ 2ORCL 3PXGBX Top holdings2017-06-30 1.JNJ 2.ORCL 3.PXGBX 4.KO 5.USB 6.TRV 7.BIDU 8.WAT 9.GOOGL 10.PG
2017-03-31	102	$4.6B	18	1JNJ 2PXGBX 3TRV Top holdings2017-03-31 1.JNJ 2.PXGBX 3.TRV 4.KO 5.ORCL 6.OMC 7.PG 8.CNQ 9.USB 10.WAT
2016-12-31	105	$4.6B	34	1JNJ 2USB3535678 Top holdings2016-12-31 1.JNJ 2.USB 3.535678 4.PXGBX 5.CNQ 6.PG 7.OMC 8.KO 9.TXN 10.TRV
2016-09-30	104	$4.7B	20	1JNJ 2PG3535678 Top holdings2016-09-30 1.JNJ 2.PG 3.535678 4.PXGBX 5.USB 6.CL 7.CNQ 8.OMC 9.KO 10.ORCL
2016-06-30	101	$4.7B	8	1JNJ 2PG 3CL Top holdings2016-06-30 1.JNJ 2.PG 3.CL 4.535678 5.TRV 6.HSY 7.PXGBX 8.USB 9.KO 10.ORCL
2016-03-31	100	$4.6B	22	1JNJ 2PG 3CL Top holdings2016-03-31 1.JNJ 2.PG 3.CL 4.PXGBX 5.USB 6.535678 7.TRV 8.KO 9.ORCL 10.55068R
2015-12-31	80	$4.4B	41	1JNJ 2PG 3CL Top holdings2015-12-31 1.JNJ 2.PG 3.CL 4.USB 5.55068R 6.KO 7.PXGBX 8.TRV 9.535678 10.WFC
2015-09-30	77	$4.1B	19	1JNJ 2CL 3PG Top holdings2015-09-30 1.JNJ 2.CL 3.PG 4.55068R 5.USB 6.TRV 7.PXGBX 8.KO 9.HSY 10.ORCL
2015-06-30	75	$4.4B	16	1JNJ 2PG 3CL Top holdings2015-06-30 1.JNJ 2.PG 3.CL 4.PXGBX 5.USB 6.55068R 7.ORCL 8.CB 9.TRV 10.535678
2015-03-31	73	$4.1B	16	1JNJ 2PG 3CL Top holdings2015-03-31 1.JNJ 2.PG 3.CL 4.55068R 5.MCD 6.PXGBX 7.ORCL 8.USB 9.KO 10.TRV
2014-12-31	72	$4.2B	20	1JNJ 2PG 3KO Top holdings2014-12-31 1.JNJ 2.PG 3.KO 4.ORCL 5.PXGBX 6.55068R 7.USB 8.MCD 9.INTC 10.CL
2014-09-30	73	$4.1B	100	1JNJ 2KO 3PG Top holdings2014-09-30 1.JNJ 2.KO 3.PG 4.PXGBX 5.BIDU 6.55068R 7.CNQ 8.ORCL 9.USB 10.MCD
2014-06-30	64	$3.9B	0	1JNJ 2KO355068R Top holdings2014-06-30 1.JNJ 2.KO 3.55068R 4.CNQ 5.ABT 6.BIDU 7.PXGBX 8.PG 9.MCD 10.ORCL
2014-03-31	71	$3.9B	50	1JNJ 2KO355068R Top holdings2014-03-31 1.JNJ 2.KO 3.55068R 4.ABT 5.PG 6.PXGBX 7.ORCL 8.CNQ 9.MCD 10.USB
2013-12-31	60	$4.1B	25	1KO 2JNJ 3MCD Top holdings2013-12-31 1.KO 2.JNJ 3.MCD 4.55068R 5.PG 6.PXGBX 7.535678 8.OMC 9.MMM 10.RCI
2013-09-30	59	$4.1B	27	1MMM 2JNJ 3MCD Top holdings2013-09-30 1.MMM 2.JNJ 3.MCD 4.55068R 5.KO 6.PG 7.BIDU 8.MSFT 9.535678 10.OMC
2013-06-30	67	$4.2B	0	155068R2COST 3MCD Top holdings2013-06-30 1.55068R 2.COST 3.MCD 4.JNJ 5.MMM 6.KO 7.RCI 8.PG 9.MSFT 10.BRK-B

Holding changes this quarter

Marathon Asset Management LLP's most significant position changes for 2021-06-30: Sold out: Oracle CORP (ORCL); Sold out: Johnson & Johnson (JNJ); Sold out: Booking Holdings INC (BKNG); Sold out: Alphabet Inc-cl A (GOOGL); Sold out: Baidu INC - Spon Adr (BIDU).

Position changes disclosed by Marathon Asset Management LLP for the quarter ending 2021-06-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ORCL	Oracle CORP	—	EXIT	Sold out
2	JNJ	Johnson & Johnson	—	EXIT	Sold out
3	BKNG	Booking Holdings INC	—	EXIT	Sold out
4	GOOGL	Alphabet Inc-cl A	—	EXIT	Sold out
5	BIDU	Baidu INC - Spon Adr	—	EXIT	Sold out
6	WFC	Wells Fargo & Co	—	EXIT	Sold out
7	TXN	Texas Instruments INC	—	EXIT	Sold out
8	ADM	Archer-daniels-midland Co	—	EXIT	Sold out
9	MRK	Merck & Co. INC.	—	EXIT	Sold out
10	META	Meta Platforms Inc-class A	—	EXIT	Sold out
11	BAM	Brookfield Asset Management Ltd.	—	EXIT	Sold out
12	TRV	Travelers Cos Inc/the	—	EXIT	Sold out
13	GOOG	Alphabet Inc-cl C	—	EXIT	Sold out
14	AZO	Autozone INC	—	EXIT	Sold out
15	YUMC	Yum China Holdings INC	—	EXIT	Sold out
16	INTC	Intel CORP	—	EXIT	Sold out
17	FCN	Fti Consulting INC	—	EXIT	Sold out
18	ABX	Barrick Gold CORP	—	EXIT	Sold out
19	HSY	Hershey Co/the	—	EXIT	Sold out
20	BG	Bunge Global SA	—	EXIT	Sold out
21	AXP	American Express Co	—	EXIT	Sold out
22	KO	The Coca-Cola Company	—	EXIT	Sold out
23	WAT	Waters CORP	—	EXIT	Sold out
24	KMX	Carmax INC	—	EXIT	Sold out
25	CHRW	C.h. Robinson Worldwide INC	—	EXIT	Sold out
26	EA	Electronic Arts INC	—	EXIT	Sold out
27	FRCB	First Republic Bank/ca	—	EXIT	Sold out
28	UPS	United Parcel Service-cl B	—	EXIT	Sold out
29	BRK-B	Berkshire Hathaway Inc-cl B	—	EXIT	Sold out
30	G	Genpact Limited	—	EXIT	Sold out
31	MKL	Markel Group INC	—	EXIT	Sold out
32	HIG	Hartford Insurance Group INC	—	EXIT	Sold out
33	PG	Procter & Gamble Co/the	—	EXIT	Sold out
34	TJX	Tjx Companies INC	—	EXIT	Sold out
35	OPLN	Openlane INC	—	EXIT	Sold out
36	ADI	Analog Devices INC	—	EXIT	Sold out
37	KMB	Kimberly-clark CORP	—	EXIT	Sold out
38	MXIM	Maxim Integrated Products	—	EXIT	Sold out
39	FAST	Fastenal Co	—	EXIT	Sold out
40	FMX	Fomento Economico Mex-sp Adr	—	EXIT	Sold out
41	PAYX	Paychex INC	—	EXIT	Sold out
42	RBAGBP	Ritchie Bros Auctioneers	—	EXIT	Sold out
43	UNP	Union Pacific CORP	—	EXIT	Sold out
44	GIL	Gildan Activewear INC	—	EXIT	Sold out
45	CP	Canadian Pacific Kansa F	—	EXIT	Sold out
46	AON	Aon plc	—	EXIT	Sold out
47	PYPL	Paypal Holdings INC	—	EXIT	Sold out
48	LIN	Linde plc	—	EXIT	Sold out
49	AMAT	Applied Materials INC	—	EXIT	Sold out
50	KO	Coca-cola Co/the	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2021-06-30	2021-07-21	13F-HR	View on EDGAR
2021-03-31	2021-04-26	13F-HR	View on EDGAR
2020-12-31	2021-02-02	13F-HR	View on EDGAR
2020-09-30	2020-11-05	13F-HR	View on EDGAR
2020-06-30	2020-07-20	13F-HR	View on EDGAR
2020-03-31	2020-04-22	13F-HR	View on EDGAR
2019-12-31	2020-01-22	13F-HR	View on EDGAR
2019-09-30	2019-10-25	13F-HR	View on EDGAR
2019-06-30	2019-07-15	13F-HR	View on EDGAR
2019-03-31	2019-05-02	13F-HR	View on EDGAR
2018-12-31	2019-01-29	13F-HR	View on EDGAR
2018-09-30	2018-11-02	13F-HR	View on EDGAR
2018-06-30	2018-07-31	13F-HR	View on EDGAR
2018-03-31	2018-04-18	13F-HR	View on EDGAR
2017-12-31	2018-01-17	13F-HR	View on EDGAR
2017-09-30	2017-10-24	13F-HR	View on EDGAR
2017-06-30	2017-07-18	13F-HR	View on EDGAR
2017-03-31	2017-04-12	13F-HR	View on EDGAR
2016-12-31	2017-01-12	13F-HR	View on EDGAR
2016-09-30	2016-10-31	13F-HR	View on EDGAR
2016-06-30	2016-07-14	13F-HR	View on EDGAR
2016-03-31	2016-04-20	13F-HR	View on EDGAR
2015-12-31	2016-01-25	13F-HR	View on EDGAR
2015-09-30	2015-10-13	13F-HR	View on EDGAR
2015-06-30	2015-07-17	13F-HR	View on EDGAR
2015-03-31	2015-04-10	13F-HR	View on EDGAR
2014-12-31	2015-01-23	13F-HR	View on EDGAR
2014-09-30	2014-10-29	13F-HR	View on EDGAR
2014-06-30	2014-07-17	Amendment	View on EDGAR
2014-06-30	2014-07-09	13F-HR	View on EDGAR
2014-03-31	2014-04-08	13F-HR	View on EDGAR
2013-12-31	2014-01-03	13F-HR	View on EDGAR
2013-09-30	2013-10-01	13F-HR	View on EDGAR
2013-06-30	2013-08-05	13F-HR	View on EDGAR

FAQ

What is Marathon Asset Management LLP and what type of investor is it?

Marathon Asset Management LLP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2021-06-30), the firm manages a tracked equity portfolio valued at approximately $8.3B, spread across 98 disclosed positions.

What are Marathon Asset Management LLP's largest equity positions?

Based on the latest 13F filing, Marathon Asset Management LLP's top holdings by market value are: 1. Oracle CORP (ORCL) — $305.5M (3.7%) 2. Booking Holdings INC (BKNG) — $299.8M (3.6%) 3. Alphabet Inc-cl A (GOOGL) — $260.4M (3.1%) 4. Johnson & Johnson (JNJ) — $251.6M (3.0%) 5. Alphabet Inc-cl C (GOOG) — $241.4M (2.9%)

What changes did Marathon Asset Management LLP make in its most recent portfolio filing?

In the latest quarter, Marathon Asset Management LLP took a more defensive posture — trimming 0 positions and completely exiting 50 holdings. The largest of these moves: Sold out: Oracle CORP (ORCL); Sold out: Johnson & Johnson (JNJ); Sold out: Booking Holdings INC (BKNG); Sold out: Alphabet Inc-cl A (GOOGL); Sold out: Baidu INC - Spon Adr (BIDU)

What sectors does Marathon Asset Management LLP focus on?

Marathon Asset Management LLP is concentrated in the following sectors based on its current disclosed equity portfolio: • Communication Services: 23.4% • Information Technology: 19.4% • Financials: 17.1% • Health Care: 13.5% • Consumer Discretionary: 13.4% • Consumer Staples: 8.0%

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Marathon Asset Management LLP — AI-Powered 13F Analysis

CIK: 0001040592

High-turnover trader

Total reported value

$8.3B

Reporting period: 2021-06-30 · Number of holdings: 98

MARATHON ASSET MANAGEMENT LLP disclosed 98 holdings in its latest 13F filing for the period ending 2021-06-30, with total reported value of $8.3B and a quarterly turnover rate of 93.1%.

Browse other institutions with $1B to $10B AUM Browse other institutions starting with "M"

Personality snowflake

Concentration: 0
Portfolio Stability: 93.06
Momentum/Contrarian: 50
Sector conviction: 49.85
Diversification: 0
Sizing Uniformity: —

Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.82), suggesting a disciplined, rules-based approach to how much capital goes into each idea.

No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.

Recent moves

Sold out ORCL
Sold out JNJ
Sold out BKNG
Sold out GOOGL
Sold out BIDU
Sold out WFC

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	ORCL	Oracle CORP	Stock-Tech	3.70%	-3.86%	EXIT
2	BKNG	Booking Holdings INC	Stock-Consumer Disc	3.63%	-3.02%	EXIT
3	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	3.15%	-2.92%	EXIT
4	JNJ	Johnson & Johnson	Stock-Healthcare	3.05%	-3.51%	EXIT
5	GOOG	Alphabet Inc-cl C	Stock-Comm Services	2.92%	-1.94%	EXIT
6	TXN	Texas Instruments INC	Stock-Tech	2.90%	-2.35%	EXIT
7	META	Meta Platforms Inc-class A	Stock-Comm Services	2.88%	-2.25%	EXIT
8	BIDU	Baidu INC - Spon Adr	Stock-Comm Services	2.25%	-2.68%	EXIT
9	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	2.21%	-1.15%	EXIT
10	AZO	Autozone INC	Stock-Consumer Disc	2.19%	-1.88%	EXIT
11	TRV	Travelers Cos Inc/the	Stock-Financials	2.18%	-1.97%	EXIT
12	MRK	Merck & Co. INC.	Stock-Healthcare	2.09%	-2.30%	EXIT
13	HSY	Hershey Co/the	Stock-Consumer Staples	2.02%	-1.57%	EXIT
14	AXP	American Express Co	Stock-Financials	1.85%	-1.53%	EXIT
15	YUMC	Yum China Holdings INC	Stock-Consumer Disc	1.83%	-1.82%	EXIT
16	BAM	Brookfield Asset Management Ltd.	Stock-Financials	1.80%	-2.01%	EXIT
17	WAT	Waters CORP	Stock-Healthcare	1.80%	-1.48%	EXIT
18	TJX	Tjx Companies INC	Stock-Consumer Disc	1.78%	-0.95%	EXIT
19	KMX	Carmax INC	Stock-Consumer Disc	1.67%	-1.36%	EXIT
20	EA	Electronic Arts INC	Stock-Comm Services	1.67%	-1.21%	EXIT
21	FRCB	First Republic Bank/ca	Stock-Financials	1.57%	-1.21%	EXIT
22	KMB	Kimberly-clark CORP	Stock-Consumer Staples	1.55%	-0.88%	EXIT
23	ADM	Archer-daniels-midland Co	Stock-Consumer Staples	1.49%	-2.35%	EXIT
24	CNQ	Canadian Natural Resources	Stock-Energy	1.44%	—	+110.20%
25	FCN	Fti Consulting INC	Stock-Industrials	1.44%	-1.77%	EXIT
26	LIN	Linde plc	Stock-Materials	1.43%	-0.75%	EXIT
27	CHRW	C.h. Robinson Worldwide INC	Stock-Industrials	1.32%	-1.25%	EXIT
28	KO	The Coca-Cola Company	Stock-Consumer Staples	1.30%	-1.51%	EXIT
29	UPS	United Parcel Service-cl B	Stock-Industrials	1.28%	-1.17%	EXIT
30	PEP	Pepsico INC	Stock-Consumer Staples	1.26%	—	+110.96%
31	PGR	Progressive CORP	Stock-Financials	1.24%	—	+110.62%
32	ATVIEUR	Activision Blizzard INC	Stock-Comm Services	1.18%	—	+109.62%
33	FAST	Fastenal Co	Stock-Industrials	1.16%	-0.84%	EXIT
34	MKL	Markel Group INC	Stock-Financials	1.13%	-1.04%	EXIT
35	G	Genpact Limited	Stock-Tech	1.00%	-1.05%	EXIT
36	WFC	Wells Fargo & Co	Stock-Financials	0.98%	-2.47%	EXIT
37	CP	Canadian Pacific Kansa F	Stock-Industrials	0.98%	-0.79%	EXIT
38	PG	Procter & Gamble Co/the	Stock-Consumer Staples	0.92%	-1.01%	EXIT
39	MXIM	Maxim Integrated Products	Stock-Other	0.92%	-0.87%	EXIT
40	ABX	Barrick Gold CORP	Stock-Financials	0.91%	-1.59%	EXIT
41	ADI	Analog Devices INC	Stock-Tech	0.91%	-0.90%	EXIT
42	MTB	M & T Bank CORP	Stock-Financials	0.91%	—	+58.90%
43	RBAGBP	Ritchie Bros Auctioneers	Stock-Other	0.89%	-0.83%	EXIT
44	GIL	Gildan Activewear INC	Stock-Consumer Disc	0.89%	-0.81%	EXIT
45	PCAR	Paccar INC	Stock-Industrials	0.88%	—	+111.74%
46	HIG	Hartford Insurance Group INC	Stock-Financials	0.88%	-1.04%	EXIT
47	OPLN	Openlane INC	Stock-Other	0.88%	-0.91%	EXIT
48	FMX	Fomento Economico Mex-sp Adr	Stock-Other	0.83%	-0.83%	EXIT
49	PAYX	Paychex INC	Stock-Tech	0.83%	-0.83%	EXIT
50	MRSH	Marsh & Mclennan Cos	Stock-Financials	0.81%	—	—

1–50 of 98

Portfolio Performance

Not enough priced holdings yet to compute performance

Reported value over time

Sector allocation

Sector allocation over time

Quarterly history

Period	Holdings	Total value	Stability	Top holdings
2021-06-30	98	$8.3B	93	1ORCL 2BKNG 3GOOGL Top holdings2021-06-30 1.ORCL 2.BKNG 3.GOOGL 4.JNJ 5.GOOG 6.TXN 7.META 8.BIDU 9.BRK-B 10.AZO
2021-03-31	104	$7.2B	16	1ORCL 2JNJ 3BKNG Top holdings2021-03-31 1.ORCL 2.JNJ 3.BKNG 4.GOOGL 5.BIDU 6.WFC 7.TXN 8.ADM 9.MRK 10.META
2020-12-31	106	$7.1B	25	1BIDU 2ORCL 3JNJ Top holdings2020-12-31 1.BIDU 2.ORCL 3.JNJ 4.BKNG 5.GOOGL 6.MRK 7.META 8.TXN 9.WFC 10.ADM
2020-09-30	108	$6.4B	11	1ORCL 2JNJ 3BIDU Top holdings2020-09-30 1.ORCL 2.JNJ 3.BIDU 4.BKNG 5.GOOGL 6.META 7.ADM 8.BRK-B 9.TXN 10.MRK
2020-06-30	105	$6.5B	25	1ORCL 2JNJ 3BIDU Top holdings2020-06-30 1.ORCL 2.JNJ 3.BIDU 4.GOOGL 5.BKNG 6.META 7.INTC 8.ABX 9.AMZN 10.BRK-B
2020-03-31	105	$5.6B	35	1JNJ 2ORCL 3GOOGL Top holdings2020-03-31 1.JNJ 2.ORCL 3.GOOGL 4.INTC 5.BIDU 6.MRK 7.BKNG 8.BRK-B 9.WFC 10.ADM
2019-12-31	102	$7.6B	13	1WFC 2JNJ 3ORCL Top holdings2019-12-31 1.WFC 2.JNJ 3.ORCL 4.GOOGL 5.BKNG 6.TXN 7.BRK-B 8.INTC 9.MRK 10.BIDU
2019-09-30	105	$7.6B	12	1WFC 2ORCL 3JNJ Top holdings2019-09-30 1.WFC 2.ORCL 3.JNJ 4.TXN 5.MRK 6.BKNG 7.TRV 8.GOOGL 9.USB 10.INTC
2019-06-30	102	$7.8B	15	1JNJ 2ORCL 3WFC Top holdings2019-06-30 1.JNJ 2.ORCL 3.WFC 4.TRV 5.MRK 6.TXN 7.PG 8.BKNG 9.USB 10.INTC
2019-03-31	101	$7.5B	17	1JNJ 2ORCL 3TRV Top holdings2019-03-31 1.JNJ 2.ORCL 3.TRV 4.MRK 5.BIDU 6.PG 7.INTC 8.GOOGL 9.TXN 10.USB
2018-12-31	104	$6.8B	32	1JNJ 2ORCL 3MRK Top holdings2018-12-31 1.JNJ 2.ORCL 3.MRK 4.PG 5.TRV 6.INTC 7.BIDU 8.GOOGL 9.USB 10.BKNG
2018-09-30	103	$7.9B	22	1LVS 2JNJ 3ORCL Top holdings2018-09-30 1.LVS 2.JNJ 3.ORCL 4.BIDU 5.MRK 6.PXGBX 7.TRV 8.GOOGL 9.PG 10.USB
2018-06-30	99	$6.7B	11	1JNJ 2ORCL 3BIDU Top holdings2018-06-30 1.JNJ 2.ORCL 3.BIDU 4.PXGBX 5.MRK 6.HSY 7.TRV 8.GOOGL 9.CNQ 10.INTC
2018-03-31	102	$6.5B	13	1JNJ 2ORCL 3TRV Top holdings2018-03-31 1.JNJ 2.ORCL 3.TRV 4.BIDU 5.HSY 6.PXGBX 7.MRK 8.INTC 9.GOOGL 10.USB
2017-12-31	101	$6.5B	15	1JNJ 2ORCL 3BIDU Top holdings2017-12-31 1.JNJ 2.ORCL 3.BIDU 4.HSY 5.PXGBX 6.TRV 7.USB 8.GOOGL 9.CNQ 10.KO
2017-09-30	104	$6.1B	17	1JNJ 2ORCL 3BIDU Top holdings2017-09-30 1.JNJ 2.ORCL 3.BIDU 4.PXGBX 5.KO 6.USB 7.HSY 8.CNQ 9.BAM 10.GOOGL
2017-06-30	99	$5.8B	35	1JNJ 2ORCL 3PXGBX Top holdings2017-06-30 1.JNJ 2.ORCL 3.PXGBX 4.KO 5.USB 6.TRV 7.BIDU 8.WAT 9.GOOGL 10.PG
2017-03-31	102	$4.6B	18	1JNJ 2PXGBX 3TRV Top holdings2017-03-31 1.JNJ 2.PXGBX 3.TRV 4.KO 5.ORCL 6.OMC 7.PG 8.CNQ 9.USB 10.WAT
2016-12-31	105	$4.6B	34	1JNJ 2USB3535678 Top holdings2016-12-31 1.JNJ 2.USB 3.535678 4.PXGBX 5.CNQ 6.PG 7.OMC 8.KO 9.TXN 10.TRV
2016-09-30	104	$4.7B	20	1JNJ 2PG3535678 Top holdings2016-09-30 1.JNJ 2.PG 3.535678 4.PXGBX 5.USB 6.CL 7.CNQ 8.OMC 9.KO 10.ORCL
2016-06-30	101	$4.7B	8	1JNJ 2PG 3CL Top holdings2016-06-30 1.JNJ 2.PG 3.CL 4.535678 5.TRV 6.HSY 7.PXGBX 8.USB 9.KO 10.ORCL
2016-03-31	100	$4.6B	22	1JNJ 2PG 3CL Top holdings2016-03-31 1.JNJ 2.PG 3.CL 4.PXGBX 5.USB 6.535678 7.TRV 8.KO 9.ORCL 10.55068R
2015-12-31	80	$4.4B	41	1JNJ 2PG 3CL Top holdings2015-12-31 1.JNJ 2.PG 3.CL 4.USB 5.55068R 6.KO 7.PXGBX 8.TRV 9.535678 10.WFC
2015-09-30	77	$4.1B	19	1JNJ 2CL 3PG Top holdings2015-09-30 1.JNJ 2.CL 3.PG 4.55068R 5.USB 6.TRV 7.PXGBX 8.KO 9.HSY 10.ORCL
2015-06-30	75	$4.4B	16	1JNJ 2PG 3CL Top holdings2015-06-30 1.JNJ 2.PG 3.CL 4.PXGBX 5.USB 6.55068R 7.ORCL 8.CB 9.TRV 10.535678
2015-03-31	73	$4.1B	16	1JNJ 2PG 3CL Top holdings2015-03-31 1.JNJ 2.PG 3.CL 4.55068R 5.MCD 6.PXGBX 7.ORCL 8.USB 9.KO 10.TRV
2014-12-31	72	$4.2B	20	1JNJ 2PG 3KO Top holdings2014-12-31 1.JNJ 2.PG 3.KO 4.ORCL 5.PXGBX 6.55068R 7.USB 8.MCD 9.INTC 10.CL
2014-09-30	73	$4.1B	100	1JNJ 2KO 3PG Top holdings2014-09-30 1.JNJ 2.KO 3.PG 4.PXGBX 5.BIDU 6.55068R 7.CNQ 8.ORCL 9.USB 10.MCD
2014-06-30	64	$3.9B	0	1JNJ 2KO355068R Top holdings2014-06-30 1.JNJ 2.KO 3.55068R 4.CNQ 5.ABT 6.BIDU 7.PXGBX 8.PG 9.MCD 10.ORCL
2014-03-31	71	$3.9B	50	1JNJ 2KO355068R Top holdings2014-03-31 1.JNJ 2.KO 3.55068R 4.ABT 5.PG 6.PXGBX 7.ORCL 8.CNQ 9.MCD 10.USB
2013-12-31	60	$4.1B	25	1KO 2JNJ 3MCD Top holdings2013-12-31 1.KO 2.JNJ 3.MCD 4.55068R 5.PG 6.PXGBX 7.535678 8.OMC 9.MMM 10.RCI
2013-09-30	59	$4.1B	27	1MMM 2JNJ 3MCD Top holdings2013-09-30 1.MMM 2.JNJ 3.MCD 4.55068R 5.KO 6.PG 7.BIDU 8.MSFT 9.535678 10.OMC
2013-06-30	67	$4.2B	0	155068R2COST 3MCD Top holdings2013-06-30 1.55068R 2.COST 3.MCD 4.JNJ 5.MMM 6.KO 7.RCI 8.PG 9.MSFT 10.BRK-B

Holding changes this quarter

Position changes disclosed by Marathon Asset Management LLP for the quarter ending 2021-06-30, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ORCL	Oracle CORP	—	EXIT	Sold out
2	JNJ	Johnson & Johnson	—	EXIT	Sold out
3	BKNG	Booking Holdings INC	—	EXIT	Sold out
4	GOOGL	Alphabet Inc-cl A	—	EXIT	Sold out
5	BIDU	Baidu INC - Spon Adr	—	EXIT	Sold out
6	WFC	Wells Fargo & Co	—	EXIT	Sold out
7	TXN	Texas Instruments INC	—	EXIT	Sold out
8	ADM	Archer-daniels-midland Co	—	EXIT	Sold out
9	MRK	Merck & Co. INC.	—	EXIT	Sold out
10	META	Meta Platforms Inc-class A	—	EXIT	Sold out
11	BAM	Brookfield Asset Management Ltd.	—	EXIT	Sold out
12	TRV	Travelers Cos Inc/the	—	EXIT	Sold out
13	GOOG	Alphabet Inc-cl C	—	EXIT	Sold out
14	AZO	Autozone INC	—	EXIT	Sold out
15	YUMC	Yum China Holdings INC	—	EXIT	Sold out
16	INTC	Intel CORP	—	EXIT	Sold out
17	FCN	Fti Consulting INC	—	EXIT	Sold out
18	ABX	Barrick Gold CORP	—	EXIT	Sold out
19	HSY	Hershey Co/the	—	EXIT	Sold out
20	BG	Bunge Global SA	—	EXIT	Sold out
21	AXP	American Express Co	—	EXIT	Sold out
22	KO	The Coca-Cola Company	—	EXIT	Sold out
23	WAT	Waters CORP	—	EXIT	Sold out
24	KMX	Carmax INC	—	EXIT	Sold out
25	CHRW	C.h. Robinson Worldwide INC	—	EXIT	Sold out
26	EA	Electronic Arts INC	—	EXIT	Sold out
27	FRCB	First Republic Bank/ca	—	EXIT	Sold out
28	UPS	United Parcel Service-cl B	—	EXIT	Sold out
29	BRK-B	Berkshire Hathaway Inc-cl B	—	EXIT	Sold out
30	G	Genpact Limited	—	EXIT	Sold out
31	MKL	Markel Group INC	—	EXIT	Sold out
32	HIG	Hartford Insurance Group INC	—	EXIT	Sold out
33	PG	Procter & Gamble Co/the	—	EXIT	Sold out
34	TJX	Tjx Companies INC	—	EXIT	Sold out
35	OPLN	Openlane INC	—	EXIT	Sold out
36	ADI	Analog Devices INC	—	EXIT	Sold out
37	KMB	Kimberly-clark CORP	—	EXIT	Sold out
38	MXIM	Maxim Integrated Products	—	EXIT	Sold out
39	FAST	Fastenal Co	—	EXIT	Sold out
40	FMX	Fomento Economico Mex-sp Adr	—	EXIT	Sold out
41	PAYX	Paychex INC	—	EXIT	Sold out
42	RBAGBP	Ritchie Bros Auctioneers	—	EXIT	Sold out
43	UNP	Union Pacific CORP	—	EXIT	Sold out
44	GIL	Gildan Activewear INC	—	EXIT	Sold out
45	CP	Canadian Pacific Kansa F	—	EXIT	Sold out
46	AON	Aon plc	—	EXIT	Sold out
47	PYPL	Paypal Holdings INC	—	EXIT	Sold out
48	LIN	Linde plc	—	EXIT	Sold out
49	AMAT	Applied Materials INC	—	EXIT	Sold out
50	KO	Coca-cola Co/the	—	EXIT	Sold out

Filing History

Period	Filed	Type	EDGAR
2021-06-30	2021-07-21	13F-HR	View on EDGAR
2021-03-31	2021-04-26	13F-HR	View on EDGAR
2020-12-31	2021-02-02	13F-HR	View on EDGAR
2020-09-30	2020-11-05	13F-HR	View on EDGAR
2020-06-30	2020-07-20	13F-HR	View on EDGAR
2020-03-31	2020-04-22	13F-HR	View on EDGAR
2019-12-31	2020-01-22	13F-HR	View on EDGAR
2019-09-30	2019-10-25	13F-HR	View on EDGAR
2019-06-30	2019-07-15	13F-HR	View on EDGAR
2019-03-31	2019-05-02	13F-HR	View on EDGAR
2018-12-31	2019-01-29	13F-HR	View on EDGAR
2018-09-30	2018-11-02	13F-HR	View on EDGAR
2018-06-30	2018-07-31	13F-HR	View on EDGAR
2018-03-31	2018-04-18	13F-HR	View on EDGAR
2017-12-31	2018-01-17	13F-HR	View on EDGAR
2017-09-30	2017-10-24	13F-HR	View on EDGAR
2017-06-30	2017-07-18	13F-HR	View on EDGAR
2017-03-31	2017-04-12	13F-HR	View on EDGAR
2016-12-31	2017-01-12	13F-HR	View on EDGAR
2016-09-30	2016-10-31	13F-HR	View on EDGAR
2016-06-30	2016-07-14	13F-HR	View on EDGAR
2016-03-31	2016-04-20	13F-HR	View on EDGAR
2015-12-31	2016-01-25	13F-HR	View on EDGAR
2015-09-30	2015-10-13	13F-HR	View on EDGAR
2015-06-30	2015-07-17	13F-HR	View on EDGAR
2015-03-31	2015-04-10	13F-HR	View on EDGAR
2014-12-31	2015-01-23	13F-HR	View on EDGAR
2014-09-30	2014-10-29	13F-HR	View on EDGAR
2014-06-30	2014-07-17	Amendment	View on EDGAR
2014-06-30	2014-07-09	13F-HR	View on EDGAR
2014-03-31	2014-04-08	13F-HR	View on EDGAR
2013-12-31	2014-01-03	13F-HR	View on EDGAR
2013-09-30	2013-10-01	13F-HR	View on EDGAR
2013-06-30	2013-08-05	13F-HR	View on EDGAR