Marathon Asset Management LLP — Q4 2015 13F Holdings

Name: Marathon Asset Management LLP — 13F Holdings, Q4 2015
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	4.80%	-3.51%	EXIT
2	PG	Procter & Gamble Co/the	Stock-Consumer Staples	3.72%	-1.01%	EXIT
3	CL	Colgate-palmolive Co	Stock-Consumer Staples	3.36%	—	-9.82%
4	USB	US Bancorp	Stock-Financials	3.25%	—	+0.75%
5	✓	Luxottica Group S P A	Stock-Other	2.93%	—	-0.94%
6	KO	Coca-cola Co/the	Stock-Consumer Staples	2.88%	-0.74%	EXIT
7	PXGBX	Praxair INC	Stock-Other	2.85%	—	-2.37%
8	TRV	Travelers Cos Inc/the	Stock-Financials	2.77%	-1.97%	EXIT
9	✓		Stock-Other	2.71%	—	+2.75%
10	WFC	Wells Fargo & Co	Stock-Financials	2.59%	-2.47%	EXIT
11	CB	Chubb Limited	Stock-Financials	2.55%	—	-2.38%
12	MCD	Mcdonald's CORP	Stock-Consumer Disc	2.51%	—	-15.28%
13	HSY	Hershey Co/the	Stock-Consumer Staples	2.41%	-1.57%	EXIT
14	OMC	Omnicom Group	Stock-Comm Services	2.33%	—	+4.22%
15	ORCL	Oracle CORP	Stock-Tech	2.28%	-3.86%	EXIT
16	INTC	Intel CORP	Stock-Tech	2.00%	-1.81%	EXIT
17	L	Loews CORP	Stock-Financials	1.96%	—	-2.39%
18	BIDU	Baidu, Inc.	Stock-Comm Services	1.88%	—	—
19	✓	Alleghany Corp	Stock-Other	1.88%	—	—
20	TXN	Texas Instruments INC	Stock-Tech	1.82%	-2.35%	EXIT
21	AFL	Aflac Incorporated	Stock-Financials	1.65%	—	—
22	MSFT	Microsoft CORP	Stock-Tech	1.60%	—	-2.39%
23	CNQ	Canadian Natural Resources	Stock-Energy	1.52%	—	-1.39%
24	TWXCHF	Time Warner INC	Stock-Other	1.38%	—	-2.38%
25	RCI	Rogers Communications Inc-b	Stock-Other	1.32%	—	-1.40%
26	HOG	Harley-davidson INC	Stock-Consumer Disc	1.32%	—	+182.77%
27	WAT	Waters CORP	Stock-Healthcare	1.28%	-1.48%	EXIT
28	EMR	Emerson Electric Co	Stock-Industrials	1.24%	—	-2.36%
29	ABT	Abbott Laboratories	Stock-Healthcare	1.20%	—	—
30	ACN	Accenture plc	Stock-Tech	1.19%	—	-2.36%
31	ADI	Analog Devices, Inc.	Stock-Tech	1.18%	—	—
32	MRK	Merck & Co. INC.	Stock-Healthcare	1.11%	-2.30%	EXIT
33	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	1.09%	-2.92%	EXIT
34	FLIR	Flir Systems INC	Stock-Other	1.08%	—	-2.38%
35	MMM	3m Co	Stock-Industrials	1.05%	—	-2.73%
36	COST	Costco Wholesale CORP	Stock-Consumer Staples	1.02%	—	-2.38%
37	PYPL	Paypal Holdings INC	Stock-Financials	1.01%	-0.76%	EXIT
38	MTB	M & T Bank CORP	Stock-Financials	0.99%	—	-2.39%
39	✓		Stock-Other	0.98%	—	—
40	BEN	Franklin Resources INC	Stock-Financials	0.97%	—	+31.26%
41	✓		Stock-Other	0.96%	—	-2.38%
42	BAX	Baxter International Inc.	Stock-Healthcare	0.94%	—	—
43	BRK-B	Berkshire Hathaway Inc.	Stock-Other	0.93%	—	—
44	EL	Estee Lauder Companies-cl A	Stock-Consumer Staples	0.92%	—	-2.38%
45	AXP	American Express Company	Stock-Financials	0.90%	—	—
46	XLNXEUR	Xilinx INC	Stock-Other	0.89%	—	-2.38%
47	BAM	Brookfield Asset Management Ltd.	Stock-Financials	0.88%	-2.01%	EXIT
48	RYN	Rayonier INC	Stock-Real Estate	0.83%	—	-0.31%
49	UTXZ	United Tech CORP	Stock-Other	0.82%	—	-2.62%
50	UNP	Union Pacific CORP	Stock-Industrials	0.78%	-0.82%	EXIT

1–50 of 80

Holding changes this quarter

Position changes disclosed by Marathon Asset Management LLP for the quarter ending Q4 2015, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	HOG	Harley-davidson INC	+0.7%	+182.77%	Add
2	WFC	Wells Fargo & Co	+0.5%	+23.21%	Add
3	JNJ	Johnson & Johnson	+0.3%	+2.59%	Add
4	OMC	Omnicom Group	+0.3%	+4.22%	Add
5	MRK	Merck & Co. INC.	+0.2%	+22.45%	Add
6	MSFT	Microsoft CORP	+0.2%	-2.39%	Trim
7	BEN	Franklin Resources INC	+0.2%	+31.26%	Add
8	NOVEUR	National Oilwell Varco INC	+0.1%	+58.74%	Add
9	✓		+0.1%	-2.38%	Trim
10	PG	Procter & Gamble Co/the	0%	-2.37%	Trim
11	CNQ	Canadian Natural Resources	0%	-1.39%	Trim
12	✓		0%	+2.75%	Add
13	USB	US Bancorp	-0.1%	+0.75%	Add
14	ORCL	Oracle CORP	-0.4%	-11.23%	Trim
15	✓	Luxottica Group S P A	-0.4%	-0.94%	Trim
16	CL	Colgate-palmolive Co	-0.4%	-9.82%	Trim
17	TRV	Travelers Cos Inc/the	-0.5%	-19.56%	Trim
18	YUSD	Alleghany CORP	—	EXIT	Sold out
19	BIDU	Baidu, Inc.	—	NEW	New buy
20	✓	Alleghany Corp	—	NEW	New buy
21	AFL	Aflac Incorporated	—	NEW	New buy
22	AFL	Aflac INC	—	EXIT	Sold out
23	PFE	Pfizer INC	—	EXIT	Sold out
24	BIDU	Baidu INC - Spon Adr	—	EXIT	Sold out
25	ABT	Abbott Laboratories	—	NEW	New buy
26	ADI	Analog Devices, Inc.	—	NEW	New buy
27	ADI	Analog Devices INC	—	EXIT	Sold out
28	ABT	Abbott Laboratories	—	EXIT	Sold out
29	GOOGL	Alphabet Inc-cl A	—	NEW	New buy
30	AXP	American Express Co	—	EXIT	Sold out
31	✓		—	NEW	New buy
32	BRK-B	Berkshire Hathaway Inc-cl B	—	EXIT	Sold out
33	BAX	Baxter International Inc.	—	NEW	New buy
34	BRK-B	Berkshire Hathaway Inc.	—	NEW	New buy
35	✓		—	EXIT	Sold out
36	GOOG	Alphabet A	—	EXIT	Sold out
37	AXP	American Express Company	—	NEW	New buy
38	BAX	Baxter International INC	—	EXIT	Sold out
39	UNP	Union Pacific CORP	—	NEW	New buy
40	✓		—	NEW	New buy
41	AZO	AutoZone, Inc.	—	NEW	New buy
42	AZO	Autozone INC	—	EXIT	Sold out
43	HIG	Hartford Insurance Group INC	—	NEW	New buy
44	ADP	Automatic Data Processing, Inc.	—	NEW	New buy
45	ADP	Automatic Data Processing	—	EXIT	Sold out
46	TROW	T Rowe Price Group INC	—	NEW	New buy
47	GOOG	Alphabet Inc-cl C	—	NEW	New buy
48	✓	Google INC Class C	—	EXIT	Sold out
49	✓	Atwood Oceanics INC	—	EXIT	Sold out
50	✓	Atwood Oceanics INC Com	—	NEW	New buy