Marathon Asset Management LLP — Q1 2014 13F Holdings

Name: Marathon Asset Management LLP — 13F Holdings, Q1 2014
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001040592

Total reported value

$8.3B

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	JNJ	Johnson & Johnson	Stock-Healthcare	4.18%	-3.51%	EXIT
2	KO	Coca-cola Co/the	Stock-Consumer Staples	3.93%	-0.74%	EXIT
3	✓	Luxottica Group S P A	Stock-Other	3.75%	—	-10.57%
4	ABT	Abbott Laboratories	Stock-Healthcare	3.46%	—	+19.06%
5	PG	Procter & Gamble Co/the	Stock-Consumer Staples	3.07%	-1.01%	EXIT
6	PXGBX	Praxair INC	Stock-Other	3.04%	—	-16.22%
7	ORCL	Oracle CORP	Stock-Tech	2.96%	-3.86%	EXIT
8	CNQ	Canadian Natural Resources	Stock-Energy	2.92%	—	—
9	MCD	Mcdonald's CORP	Stock-Consumer Disc	2.88%	—	-32.59%
10	USB	US Bancorp	Stock-Financials	2.70%	—	-12.16%
11	✓		Stock-Other	2.64%	—	-29.08%
12	BIDU	Baidu INC - Spon Adr	Stock-Comm Services	2.60%	-2.68%	EXIT
13	CL	Colgate-palmolive Co	Stock-Consumer Staples	2.38%	—	-14.75%
14	BEN	Franklin Resources INC	Stock-Financials	2.37%	—	-4.37%
15	MSFT	Microsoft CORP	Stock-Tech	2.32%	—	-11.05%
16	MMM	3m Co	Stock-Industrials	2.12%	—	-32.79%
17	ADI	Analog Devices INC	Stock-Tech	1.98%	-0.90%	EXIT
18	OMC	Omnicom Group	Stock-Comm Services	1.97%	—	-38.50%
19	YUSD	Alleghany CORP	Stock-Other	1.87%	—	—
20	WFC	Wells Fargo & Co	Stock-Financials	1.84%	-2.47%	EXIT
21	EBAY	Ebay INC	Stock-Consumer Disc	1.80%	—	+79.82%
22	BAX	Baxter International INC	Stock-Healthcare	1.79%	—	—
23	✓		Stock-Other	1.79%	—	—
24	TWXCHF	Time Warner INC	Stock-Other	1.76%	—	-11.30%
25	RCI	Rogers Communications Inc-b	Stock-Other	1.73%	—	-39.27%
26	CB	Chubb Limited	Stock-Financials	1.69%	—	-29.68%
27	FLIR	Flir Systems INC	Stock-Other	1.62%	—	—
28	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	1.50%	-1.15%	EXIT
29	INTC	Intel CORP	Stock-Tech	1.46%	-1.81%	EXIT
30	PFE	Pfizer INC	Stock-Healthcare	1.43%	—	+17.59%
31	MTB	M & T Bank CORP	Stock-Financials	1.31%	—	-3.08%
32	BAM	Brookfield Asset Management Ltd.	Stock-Financials	1.17%	-2.01%	EXIT
33	L	Loews CORP	Stock-Financials	1.14%	—	—
34	✓		Stock-Other	1.09%	—	-56.14%
35	ACN	Accenture plc	Stock-Tech	1.06%	—	-62.37%
36	TRV	Travelers Cos Inc/the	Stock-Financials	1.04%	-1.97%	EXIT
37	COST	Costco Wholesale CORP	Stock-Consumer Staples	1.03%	—	-7.15%
38	ADP	Automatic Data Processing	Stock-Tech	1.01%	—	-12.48%
39	SJM	Jm Smucker Co/the	Stock-Consumer Staples	1.00%	—	+40.72%
40	✓		Stock-Other	0.99%	—	-4.07%
41	AXP	American Express Co	Stock-Financials	0.99%	-1.53%	EXIT
42	MSM	Msc Industrial Direct Co-a	Stock-Industrials	0.98%	—	—
43	EMR	Emerson Electric Co	Stock-Industrials	0.93%	—	-11.30%
44	CLH	Clean Harbors INC	Stock-Industrials	0.89%	—	—
45	AMXN	America Movil-spn Adr Cl L	Stock-Other	0.81%	—	+16.75%
46	FMS	Fresenius Medical Care-adr	Stock-Other	0.80%	—	-28.86%
47	TXN	Texas Instruments INC	Stock-Tech	0.80%	-2.35%	EXIT
48	CHRW	C.h. Robinson Worldwide INC	Stock-Industrials	0.79%	-1.25%	EXIT
49	MKL	Markel Group INC	Stock-Financials	0.76%	-1.04%	EXIT
50	JPM	Jpmorgan Chase & Co	Stock-Financials	0.76%	—	—

1–50 of 71

Holding changes this quarter

Position changes disclosed by Marathon Asset Management LLP for the quarter ending Q1 2014, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	ORCL	Oracle CORP	+1.3%	+64.13%	Add
2	WFC	Wells Fargo & Co	+1%	+82.14%	Add
3	EBAY	Ebay INC	+0.9%	+79.82%	Add
4	ABT	Abbott Laboratories	+0.7%	+19.06%	Add
5	BRK-B	Berkshire Hathaway Inc-cl B	+0.5%	+40.77%	Add
6	TWXCHF	Time Warner INC	-0.3%	-11.30%	Trim
7	TRV	Travelers Cos Inc/the	-0.3%	-19.73%	Trim
8	CL	Colgate-palmolive Co	-0.3%	-14.75%	Trim
9	FMS	Fresenius Medical Care-adr	-0.3%	-28.86%	Trim
10	BIDU	Baidu INC - Spon Adr	-0.3%	-0.01%	Trim
11	VAREUR	Varian Medical Systems INC	-0.3%	-42.59%	Trim
12	CLX	Clorox Company	-0.3%	-51.56%	Trim
13	TXN	Texas Instruments INC	-0.4%	-40.56%	Trim
14	PXGBX	Praxair INC	-0.4%	-16.22%	Trim
15	TSEM	Tower Semiconductor Ltd.	-0.5%	-55.31%	Trim
16	MRK	Merck & Co. INC.	-0.5%	-52.83%	Trim
17	PG	Procter & Gamble Co/the	-0.6%	-18.50%	Trim
18	PAYX	Paychex INC	-0.6%	-67.08%	Trim
19	GS	Goldman Sachs Group INC	-0.7%	-54.48%	Trim
20	✓		-0.7%	-29.08%	Trim
21	ADI	Analog Devices INC	-0.8%	-34.28%	Trim
22	CB	Chubb Limited	-0.8%	-29.68%	Trim
23	KO	Coca-cola Co/the	-0.9%	-17.62%	Trim
24	MMM	3m Co	-1%	-32.79%	Trim
25	MCD	Mcdonald's CORP	-1.2%	-32.59%	Trim
26	✓	Cbs CORP New	-1.2%	-70.93%	Trim
27	OMC	Omnicom Group	-1.2%	-38.50%	Trim
28	RCI	Rogers Communications Inc-b	-1.3%	-39.27%	Trim
29	✓		-1.3%	-56.14%	Trim
30	ACN	Accenture plc	-1.7%	-62.37%	Trim
31	CNQ	Canadian Natural Resources	—	NEW	New buy
32	YUSD	Alleghany CORP	—	NEW	New buy
33	BAX	Baxter International INC	—	NEW	New buy
34	✓		—	NEW	New buy
35	FLIR	Flir Systems INC	—	NEW	New buy
36	IT	Gartner INC	—	EXIT	Sold out
37	BAM	Brookfield Asset Management Ltd.	—	NEW	New buy
38	L	Loews CORP	—	NEW	New buy
39	EL	Estee Lauder Companies-cl A	—	EXIT	Sold out
40	MSM	Msc Industrial Direct Co-a	—	NEW	New buy
41	LMEUR	Legg Mason INC	—	EXIT	Sold out
42	LAZ	Lazard, Inc.	—	EXIT	Sold out
43	CLH	Clean Harbors INC	—	NEW	New buy
44	MKL	Markel Group INC	—	NEW	New buy
45	JPM	Jpmorgan Chase & Co	—	NEW	New buy
46	DRCEUR	Dresser-rand Group INC	—	NEW	New buy
47	GOOG	Alphabet A	—	NEW	New buy
48	SQS	Sapient Quality Select ETF	—	EXIT	Sold out
49	MLM	Martin Marietta Materials	—	NEW	New buy
50	NOVEUR	National Oilwell Varco INC	—	NEW	New buy