Fund Holdings — Marathon Asset Management Ltd

Total Portfolio Value
$2.72B
Total Bought
$98.19M
Total Sold
$568.23M
Net Transaction
-$470.04M
Filing Period:
Securities
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SharesValue ($K)
Q2 2025
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Q3 2025
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Change
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Q2 2025
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Q3 2025
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Weight (%)
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Change
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MILLICOM INTL CELLULAR S A
COM STK
0984,528+984,528047,7891.76%+47,789
FRANCO NEV CORP(FNV)324,920306,723-18,19753,23268,2882.51%+15,056
SMURFIT WESTROCK PLC(SW)0243,366+243,366010,3600.38%+10,360
LAUREATE EDUCATION INC(LAUR)1,619,0861,526,033-93,05337,85448,1311.77%+10,277
SOUTHERN COPPER CORP(SCCO)706,405672,083-34,32271,46781,5643.00%+10,097
TENCENT MUSIC ENTMT GROUP(TME)3,039,6992,864,424-175,27559,24466,8562.46%+7,612
BANK NOVA SCOTIA HALIFAX1,231,1921,162,303-68,88967,96175,1822.77%+7,221
VIPSHOP HLDGS LTD(VIPS)3,720,3883,114,748-605,64055,99261,1742.25%+5,182
CEMEX SAB DE CV(CX)6,094,1715,240,589-853,58242,23247,1131.73%+4,881
GILDAN ACTIVEWEAR INC(GIL)838,247791,282-46,96541,22545,7221.68%+4,497
BROOKFIELD CORP(BN)1,473,8591,390,733-83,12691,03795,4443.51%+4,407
VAIL RESORTS INC(MTN)79,09096,066+16,97612,58314,3690.53%+1,786
TAIWAN SEMICONDUCTOR MFG LTD(TSM)52,25348,714-3,53911,86313,6370.50%+1,774
ALPHABET INC(GOOG)513,833377,542-136,29190,55291,7803.38%+1,228
FTI CONSULTING INC(FCN)53,06156,830+3,7698,5699,1860.34%+617
BARRICK MNG CORP(B)224,860151,860-73,0004,6814,9770.18%+295
C H ROBINSON WORLDWIDE INC(CHRW)139,122102,502-36,62013,42513,6440.50%+220
COPA HOLDINGS SA(CPA)402,752374,590-28,16244,29044,5081.64%+218
BIO RAD LABS INC59,81151,918-7,89314,43414,5560.54%+122
INMODE LTD(INMD)187,259187,25902,7042,7900.10%+86
BROOKFIELD ASSET MANAGMT LTD(BAM)367,324346,484-20,84020,29319,7250.73%-568
WEYERHAEUSER CO MTN BE(WY)332,557313,004-19,5538,5437,7590.29%-784
FLUTTER ENTMT PLC(FLUT)24,98324,98307,1396,3460.23%-793
BAKER HUGHES COMPANY(BKR)360,468265,494-94,97413,82012,9350.48%-885
ROGERS CORP(ROG)175,937129,314-46,62312,04910,4050.38%-1,644
VONTIER CORPORATION(VNT)308,863227,373-81,49011,3979,5430.35%-1,854
TELEFLEX INCORPORATED(TFX)84,52464,787-19,73710,0047,9270.29%-2,077
CANADIAN NAT RES LTD(CNQ)1,790,1551,692,101-98,05456,91954,8272.02%-2,093
COCA COLA CONS INC(COKE)86,51463,710-22,8049,6597,4640.27%-2,195
IQVIA HLDGS INC(IQV)169,261128,464-40,79726,67324,4000.90%-2,273
WESCO INTL INC(WCC)78,12057,514-20,60614,46812,1640.45%-2,305
SEALED AIR CORP NEW(SDA)493,489363,588-129,90115,31312,8530.47%-2,460
ARCHER DANIELS MIDLAND CO292,275215,257-77,01815,42612,8590.47%-2,567
WELLS FARGO CO NEW(WFC)149,026109,742-39,28411,9399,1990.34%-2,741
NEWMONT CORP(NEM)301,443174,701-126,74217,56214,7290.54%-2,833
NVIDIA CORPORATION(NVDA)422,520342,179-80,34166,75563,8472.35%-2,907
TERADATA CORP DEL(TDC)457,359336,163-121,19610,2047,2310.27%-2,973
TJX COS INC NEW(TJX)172,010125,404-46,60621,24118,1260.67%-3,115
AXALTA COATING SYS LTD(AXTA)377,393277,910-99,48311,2047,9530.29%-3,251
HEALTHCARE SVCS GROUP INC(HCSG)1,275,230939,641-335,58919,16715,8140.58%-3,353
AIR LEASE CORP
CL A
301,202221,772-79,43017,67614,1730.52%-3,502
NLIGHT INC(LASR)736,066366,148-369,91814,48510,8490.40%-3,636
WILLSCOT HLDGS CORP(WSC)463,269422,827-40,44212,6948,9260.33%-3,768
INTERACTIVE BROKERS GROUP IN(IBKR)719,904524,853-195,05139,88936,1151.33%-3,774
COCA-COLA EUROPACIFIC PARTNE
SHS
1,180,0821,165,190-14,892109,417105,3453.88%-4,072
ENVISTA HOLDINGS CORPORATION(NVST)950,007699,446-250,56118,56314,2480.52%-4,315
CARMAX INC(KMX)131,94197,155-34,7868,8684,3590.16%-4,508
OPENLANE INC(OPLN)1,449,9651,068,163-381,80235,45330,7421.13%-4,711
THERMO FISHER SCIENTIFIC INC(TMO)122,72192,802-29,91949,78445,0541.66%-4,730
DONNELLEY FINL SOLUTIONS INC(DFIN)202,824149,412-53,41212,5047,6840.28%-4,820
CANADIAN PACIFIC KANSAS CITY(CP)595,344561,968-33,37647,29541,9511.54%-5,345
HENRY SCHEIN INC(HSIC)233,417171,888-61,52917,05111,4080.42%-5,643
DOLLAR TREE INC(DLTR)194,941143,528-51,41319,30713,5440.50%-5,763
ROYALTY PHARMA PLC(RPRX)579,621426,072-153,54920,88315,0310.55%-5,852
FREEPORT-MCMORAN INC(FCX)361,749249,302-112,44715,6819,7770.36%-5,904
S&P GLOBAL INC(SPGI)57,07449,179-7,89530,09423,9350.88%-6,158
MICRON TECHNOLOGY INC(MU)426,551272,606-153,94552,57145,6121.68%-6,958
CABLE ONE INC(CABO)54,7460-54,7467,4350—-7,435
PROGRESSIVE CORP(PGR)165,438146,891-18,54744,14936,2741.33%-7,874
LYONDELLBASELL INDUSTRIES N
SHS - A -
430,029329,029-101,00024,88116,1350.59%-8,746
ATS CORPORATION(ATS)1,234,9611,166,007-68,95439,30730,5091.12%-8,798
HDFC BANK LTD(HDB)512,976878,938+365,96239,66930,0241.10%-9,645
BOOKING HOLDINGS INC(BKNG)5,8234,448-1,37533,70824,0140.88%-9,694
AUTODESK INC137,540100,295-37,24542,57731,8601.17%-10,717
ALIGN TECHNOLOGY INC189,319191,320+2,00135,84323,9560.88%-11,887
MASTERCARD INCORPORATED(MA)95,23072,897-22,33353,67441,4701.53%-12,203
CME GROUP INC(CME)159,347116,204-43,14343,91831,3961.16%-12,522
WABTEC(WAB)65,9430-65,94313,8050—-13,805
PAYCOM SOFTWARE INC(PAYC)268,285222,413-45,87262,08046,2931.70%-15,787
ELEVANCE HEALTH INC FORMERLY(ELV)263,536267,395+3,859102,50586,4003.18%-16,105
VISA INC(V)182,670139,710-42,96064,85447,6921.75%-17,162
MARKEL GROUP INC(MKL)32,63124,871-7,76065,17347,5391.75%-17,634
TRANSUNION(TRU)745,626570,476-175,15065,61447,7951.76%-17,819
MICROSOFT CORP(MSFT)229,799184,741-45,058114,30195,6863.52%-18,615
ORACLE CORP(ORCL)315,058172,604-142,45468,88048,5411.79%-20,339
AMAZON COM INC(AMZN)618,952517,446-101,506135,836113,5624.18%-22,274
META PLATFORMS INC(META)135,919103,799-32,120100,32076,2262.80%-24,094
ALPHABET INC(GOOG)231,75256,316-175,43641,11013,7160.50%-27,394
FISERV INC(FISV)523,415477,082-46,33390,24161,5092.26%-28,732
ADOBE INC(ADBE)86,1910-86,19133,3450—-33,345
CNH INDL N V
SHS
13,051,99712,473,058-578,939169,154135,3334.98%-33,821
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Marathon Asset Management Ltd — 13F Holdings — Q3 2025 | TickerTrail