Marathon Asset Management LLP — Q1 2016 13F Holdings

Name: Marathon Asset Management LLP — 13F Holdings, Q1 2016
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	5.09%	-3.51%	EXIT
2	PG	Procter & Gamble Co/the	Stock-Consumer Staples	3.64%	-1.01%	EXIT
3	CL	Colgate-palmolive Co	Stock-Consumer Staples	3.42%	—	-1.15%
4	PXGBX	Praxair INC	Stock-Other	3.01%	—	-2.41%
5	USB	US Bancorp	Stock-Financials	2.94%	—	-1.88%
6	✓		Stock-Other	2.90%	—	+4.83%
7	TRV	Travelers Cos Inc/the	Stock-Financials	2.86%	-1.97%	EXIT
8	KO	Coca-cola Co/the	Stock-Consumer Staples	2.68%	-0.74%	EXIT
9	ORCL	Oracle CORP	Stock-Tech	2.46%	-3.86%	EXIT
10	✓	Luxottica Group S P A	Stock-Other	2.40%	—	-0.15%
11	OMC	Omnicom Group	Stock-Comm Services	2.39%	—	-3.79%
12	HSY	Hershey Co/the	Stock-Consumer Staples	2.30%	-1.57%	EXIT
13	WFC	Wells Fargo & Co	Stock-Financials	2.19%	-2.47%	EXIT
14	TXN	Texas Instruments INC	Stock-Tech	1.91%	-2.35%	EXIT
15	BIDU	Baidu, Inc.	Stock-Comm Services	1.89%	—	+2.38%
16	L	Loews CORP	Stock-Financials	1.76%	—	-7.10%
17	CNQ	Canadian Natural Resources	Stock-Energy	1.68%	—	-9.04%
18	MCD	Mcdonald's CORP	Stock-Consumer Disc	1.68%	—	-35.15%
19	HOG	Harley-davidson INC	Stock-Consumer Disc	1.63%	—	+12.84%
20	INTC	Intel CORP	Stock-Tech	1.60%	-1.81%	EXIT
21	✓	Alleghany Corp	Stock-Other	1.58%	—	-16.34%
22	TWXCHF	Time Warner INC	Stock-Other	1.41%	—	-6.43%
23	AFL	Aflac Incorporated	Stock-Financials	1.39%	—	-17.79%
24	CB	Chubb Limited	Stock-Financials	1.37%	—	—
25	RCI	Rogers Communications Inc-b	Stock-Other	1.36%	—	-9.06%
26	MMM	3m Co	Stock-Industrials	1.34%	—	+18.95%
27	BRK-B	Berkshire Hathaway Inc.	Stock-Other	1.31%	—	+34.88%
28	ACN	Accenture plc	Stock-Tech	1.31%	—	+3.10%
29	ADI	Analog Devices, Inc.	Stock-Tech	1.27%	—	+3.45%
30	WAT	Waters CORP	Stock-Healthcare	1.26%	-1.48%	EXIT
31	EMR	Emerson Electric Co	Stock-Industrials	1.19%	—	-12.74%
32	ABT	Abbott Laboratories	Stock-Healthcare	1.11%	—	+2.65%
33	XLNXEUR	Xilinx INC	Stock-Other	1.09%	—	+24.74%
34	BEN	Franklin Resources INC	Stock-Financials	1.03%	—	+2.47%
35	FLIR	Flir Systems INC	Stock-Other	1.02%	—	-17.78%
36	PYPL	Paypal Holdings INC	Stock-Financials	1.00%	-0.76%	EXIT
37	EL	Estee Lauder Companies-cl A	Stock-Consumer Staples	0.98%	—	+2.56%
38	✓		Stock-Other	0.96%	—	+19.57%
39	MTB	M & T Bank CORP	Stock-Financials	0.95%	—	+7.37%
40	✓		Stock-Other	0.91%	—	+7.76%
41	RYN	Rayonier INC	Stock-Real Estate	0.90%	—	-0.20%
42	MRK	Merck & Co. INC.	Stock-Healthcare	0.89%	-2.30%	EXIT
43	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.85%	-2.92%	EXIT
44	BAM	Brookfield Asset Management Ltd.	Stock-Financials	0.85%	-2.01%	EXIT
45	AXP	American Express Company	Stock-Financials	0.85%	—	+9.59%
46	UTXZ	United Tech CORP	Stock-Other	0.83%	—	+0.75%
47	MSFT	Microsoft CORP	Stock-Tech	0.83%	—	-46.55%
48	BAX	Baxter International Inc.	Stock-Healthcare	0.80%	—	-17.85%
49	UNP	Union Pacific CORP	Stock-Industrials	0.80%	-0.82%	EXIT
50	COST	Costco Wholesale CORP	Stock-Consumer Staples	0.79%	—	-17.68%

1–50 of 100

Holding changes this quarter

Position changes disclosed by Marathon Asset Management LLP for the quarter ending Q1 2016, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	BRK-B	Berkshire Hathaway Inc.	+0.4%	+34.88%	Add
2	GOOG	Alphabet Inc-cl C	+0.4%	+97.35%	Add
3	HOG	Harley-davidson INC	+0.3%	+12.84%	Add
4	JNJ	Johnson & Johnson	+0.3%	+3.74%	Add
5	MMM	3m Co	+0.3%	+18.95%	Add
6	XLNXEUR	Xilinx INC	+0.2%	+24.74%	Add
7	✓		+0.2%	+4.83%	Add
8	✓		+0.2%	+19.57%	Add
9	ORCL	Oracle CORP	+0.2%	-0.56%	Trim
10	PXGBX	Praxair INC	+0.2%	-2.41%	Trim
11	CNQ	Canadian Natural Resources	+0.2%	-9.04%	Trim
12	ACN	Accenture plc	+0.1%	+3.10%	Add
13	TRV	Travelers Cos Inc/the	+0.1%	+2.89%	Add
14	TXN	Texas Instruments INC	+0.1%	+3.30%	Add
15	CL	Colgate-palmolive Co	+0.1%	-1.15%	Trim
16	JPM	Jpmorgan Chase & Co	-0.2%	-17.19%	Trim
17	MRK	Merck & Co. INC.	-0.2%	-17.31%	Trim
18	COST	Costco Wholesale CORP	-0.2%	-17.68%	Trim
19	GOOGL	Alphabet Inc-cl A	-0.2%	-17.83%	Trim
20	AFL	Aflac Incorporated	-0.3%	-17.79%	Trim
21	✓	Alleghany Corp	-0.3%	-16.34%	Trim
22	USB	US Bancorp	-0.3%	-1.88%	Trim
23	INTC	Intel CORP	-0.4%	-12.18%	Trim
24	WFC	Wells Fargo & Co	-0.4%	-2.02%	Trim
25	✓	Luxottica Group S P A	-0.5%	-0.15%	Trim
26	MSFT	Microsoft CORP	-0.8%	-46.55%	Trim
27	MCD	Mcdonald's CORP	-0.8%	-35.15%	Trim
28	CB	Chubb Limited	—	EXIT	Sold out
29	CB	Chubb Limited	—	NEW	New buy
30	✓		—	EXIT	Sold out
31	KMX	Carmax INC	—	NEW	New buy
32	AXTA	Axalta Coating Systems Ltd.	—	NEW	New buy
33	✓	Mindray Medical Intl LTD	—	EXIT	Sold out
34	PPG	Ppg Industries INC	—	NEW	New buy
35	WY	Weyerhaeuser Co	—	NEW	New buy
36	WSM	Williams-sonoma INC	—	NEW	New buy
37	TSEM	Tower Semiconductor Ltd.	—	EXIT	Sold out
38	RMD	Resmed INC	—	EXIT	Sold out
39	MKL	Markel Group INC	—	NEW	New buy
40	FRCB	First Republic Bank/ca	—	NEW	New buy
41	WWW	Wolverine World Wide INC	—	NEW	New buy
42	PEP	Pepsico INC	—	NEW	New buy
43	DLB	Dolby Laboratories Inc-cl A	—	NEW	New buy
44	UPS	United Parcel Service-cl B	—	NEW	New buy
45	AMZN	Amazon.com, Inc.	—	NEW	New buy
46	FAST	Fastenal Co	—	NEW	New buy
47	PCAR	Paccar INC	—	NEW	New buy
48	TRIP	Tripadvisor INC	—	NEW	New buy
49	MLM	Martin Marietta Materials	—	NEW	New buy
50	✓	American Intl Group INC	—	NEW	New buy