MARATHON ASSET MANAGEMENT LLP
Reported holdings as of Q2 2021, from 11 quarterly filings.
This filer last reported in Q2 2021; the most recent quarter on file across all filers is Q2 2026. Firms that restructure stop filing under one CIK and start under another, so a successor entity may hold these positions now under a similar name.
Holdings
| Security | Ticker | Value | Shares | Weight | Weight change | Held | Change |
|---|---|---|---|---|---|---|---|
| ORACLE CORP | ORCL | $305.5M | 3,924,422 | -0.16pp | 11q | -0.8%-$2.4M | |
| BOOKING HOLDINGS INC | BKNG | $299.8M | 137,017 | +0.61pp | 11q | +47.1%+$96.0M | |
| ALPHABET INC | GOOGL | $260.4M | 106,632 | +0.24pp | 11q | +4.9%+$12.3M | |
| JOHNSON & JOHNSON | JNJ | $251.6M | 1,527,037 | -0.46pp | 11q | HELD | |
| ALPHABET INC | GOOG | $241.4M | 96,330 | +0.98pp | 11q | +43.0%+$72.6M | |
| TEXAS INSTRS INC | TXN | $239.8M | 1,247,250 | +0.55pp | 11q | +39.6%+$68.0M | |
| META PLATFORMS INC | META | $237.5M | 682,961 | +0.63pp | 11q | +24.5%+$46.7M | |
| BAIDU INC | BIDU | $185.9M | 911,874 | -0.43pp | 11q | +2.9%+$5.2M | |
| BERKSHIRE HATHAWAY INC DEL | BRKB | $182.2M | 655,688 | +1.06pp | 11q | +103.1%+$92.5M | |
| AUTOZONE INC | AZO | $181.0M | 121,326 | +0.31pp | 11q | +26.3%+$37.6M | |
| TRAVELERS COMPANIES INC | TRV | $179.7M | 1,200,258 | +0.21pp | 11q | +27.5%+$38.7M | |
| MERCK & CO INC | MRK | $172.9M | 2,205,162 | -0.20pp | 11q | +3.8%+$6.4M | |
| HERSHEY CO | HSY | $167.0M | 958,778 | +0.45pp | 11q | +34.4%+$42.7M | |
| AMERICAN EXPRESS CO | AXP | $153.2M | 926,919 | +0.32pp | 11q | +19.5%+$24.9M | |
| YUM CHINA HLDGS INC | YUMC | $150.9M | 2,277,674 | +0.01pp | 11q | +3.1%+$4.6M | |
| BROOKFIELD ASSET MGMT INC | BAMXXXX | $149.0M | 2,916,112 | -0.20pp | 11q | -10.0%-$16.5M | |
| WATERS CORP | WAT | $148.7M | 430,356 | +0.32pp | 11q | +15.3%+$19.7M | |
| TJX COS INC NEW | TJX | $146.8M | 2,177,959 | +0.83pp | 11q | +111.5%+$77.4M | |
| CARMAX INC | KMX | $138.1M | 1,069,676 | +0.32pp | 11q | +45.5%+$43.2M | |
| ELECTRONIC ARTS INC | EA | $137.6M | 956,876 | +0.46pp | 11q | +48.9%+$45.2M | |
| FIRST REP BK SAN FRANCISCO C | FRCB | $129.4M | 691,538 | +0.36pp | 11q | +32.6%+$31.8M | |
| KIMBERLY-CLARK CORP | KMB | $127.8M | 951,658 | +0.67pp | 11q | +110.7%+$67.2M | |
| ARCHER DANIELS MIDLAND CO | ADM | $123.2M | 2,033,482 | -0.85pp | 11q | -31.2%-$55.9M | |
| CANADIAN NAT RES LTD MED TER | CNQ | $118.9M | 3,254,298 | +0.77pp | 11q | +110.2%+$62.3M | |
| FTI CONSULTING INC | FCN | $118.5M | 867,451 | -0.34pp | 3q | -4.6%-$5.7M | |
| LINDE PLC | LINXXXX | $118.3M | 409,239 | +0.68pp | 11q | +111.5%+$62.4M | |
| C H ROBINSON WORLDWIDE IN | CHRW | $109.0M | 1,159,021 | +0.07pp | 11q | +23.9%+$21.0M | |
| COCA-COLA EUROPACIFIC PARTNE | CCEP | $107.7M | 1,815,705 | -0.21pp | 9q | -12.7%-$15.7M | |
| UNITED PARCEL SVCS INC | UPS | $105.6M | 507,574 | +0.11pp | 11q | +3.0%+$3.1M | |
| PEPSICO INC | PEP | $103.8M | 700,903 | +0.60pp | 11q | +111.0%+$54.6M | |
| PROGRESSIVE CORP | PGR | $102.7M | 1,045,967 | +0.58pp | 2q | +110.6%+$54.0M | |
| ACTIVISION BLIZZARD INC | ATVI | $97.6M | 1,022,977 | +0.55pp | 11q | +109.6%+$51.1M | |
| FASTENAL CO | FAST | $96.2M | 1,849,576 | +0.33pp | 11q | +54.2%+$33.8M | |
| MARKEL GROUP INC | MKL | $93.5M | 78,820 | +0.09pp | 11q | +20.1%+$15.7M | |
| GENPACT LIMITED | G | $82.6M | 1,818,508 | -0.05pp | 11q | +2.8%+$2.2M | |
| WELLS FARGO & CO | WFC | $80.9M | 1,786,851 | -1.49pp | 11q | -60.7%-$125.2M | |
| CANADIAN PAC RY LTD | CPXXXX | $80.5M | 1,043,977 | +0.19pp | 11q | +605.5%+$69.1M | |
| PROCTER & GAMBLE CO | PG | $76.1M | 563,991 | -0.09pp | 11q | +5.1%+$3.7M | |
| MAXIM INTEGRATED PRODS INC | MXIM | $76.0M | 721,779 | +0.05pp | 11q | +5.2%+$3.7M | |
| BARRICK GOLD CORP | GOLD | $75.4M | 3,645,096 | -0.68pp | 11q | -37.0%-$44.3M | |
| ANALOG DEVICES INC | ADI | $75.4M | 437,695 | +0.01pp | 11q | +5.1%+$3.7M | |
| M & T BK CORP | MTB | $75.3M | 517,897 | +0.22pp | 11q | +58.9%+$27.9M | |
| RITCHIE BROS AUCTIONEERS | RBAXXXX | $73.8M | 1,244,349 | +0.07pp | 11q | +22.8%+$13.7M | |
| GILDAN ACTIVEWEAR INC | GIL | $73.7M | 1,996,820 | +0.08pp | 11q | +5.1%+$3.6M | |
| PACCAR INC | PCAR | $73.1M | 818,559 | +0.38pp | 11q | +111.7%+$38.6M | |
| HARTFORD INSURANCE GROUP INC | HIG | $72.9M | 1,170,115 | -0.16pp | 11q | +5.2%+$3.6M | |
| OPENLANE INC | OPLN | $72.4M | 4,124,745 | -0.03pp | 4q | -4.9%-$3.7M | |
| FOMENTO ECONOMICO MEXICANO S | FMX | $68.9M | 815,436 | flat | 4q | +2.6%+$1.7M | |
| PAYCHEX INC | PAYX | $68.8M | 641,288 | flat | 11q | +5.2%+$3.4M | |
| MARSH & MCLENNAN COS INC | MRSH | $66.9M | 475,713 | - | new | NEW | |
| UNION PAC CORP | UNP | $62.1M | 282,416 | -0.07pp | 11q | +5.1%+$3.0M | |
| EXPEDITORS INTL WASH INC | EXPD | $61.2M | 483,138 | +0.05pp | 11q | +5.1%+$3.0M | |
| GLOBUS MED INC | GMED | $61.2M | 788,749 | +0.17pp | 11q | +18.4%+$9.5M | |
| AON PLC | AON | $60.3M | 252,719 | -0.04pp | 5q | +5.1%+$3.0M | |
| BANK OF NY MELLON CORP | BNY | $59.2M | 1,155,983 | -0.01pp | 11q | +5.1%+$2.9M | |
| DEXCOM INC | DXCM | $58.1M | 136,094 | - | new | NEW | |
| DOLBY LABORATORIES INC | DLB | $58.1M | 591,017 | +0.03pp | 11q | +19.9%+$9.6M | |
| MARKETAXESS HLDGS INC | MKTX | $57.4M | 123,785 | +0.21pp | 11q | +78.7%+$25.3M | |
| INTEL CORP | INTC | $56.3M | 1,002,224 | -1.13pp | 11q | -50.7%-$57.9M | |
| ARISTA NETWORKS INC | ANETXXXX | $53.4M | 147,342 | +0.23pp | 4q | +49.3%+$17.6M | |
| BUNGE LIMITED | BGXXXX | $52.6M | 673,630 | -0.91pp | 11q | -51.8%-$56.7M | |
| FRANCO NEV CORP | FNV | $52.3M | 360,175 | +0.19pp | 11q | +41.1%+$15.2M | |
| ABIOMED INC | ABMD | $49.6M | 158,930 | +0.16pp | 8q | +60.8%+$18.7M | |
| AUTOMATIC DATA PROCESSING IN | ADP | $49.3M | 246,889 | -0.02pp | 6q | +5.1%+$2.4M | |
| HEALTHCARE SVCS GROUP INC | HCSG | $49.1M | 1,554,624 | -0.06pp | 4q | -7.6%-$4.0M | |
| CITIGROUP INC | C | $48.7M | 688,728 | -0.07pp | 6q | +5.0%+$2.3M | |
| CME GROUP INC | CME | $45.5M | 213,807 | -0.03pp | 3q | +5.1%+$2.2M | |
| COLGATE PALMOLIVE CO | CL | $41.4M | 509,376 | -0.03pp | 11q | +5.1%+$2.0M | |
| BANK NOVA SCOTIA B C | BNS | $39.9M | 613,075 | +0.11pp | 2q | +41.1%+$11.6M | |
| LOEWS CORP | L | $39.8M | 727,797 | -0.22pp | 11q | -25.5%-$13.6M | |
| MAGNA INTL INC | MGA | $38.5M | 415,260 | +0.11pp | 11q | +41.1%+$11.2M | |
| CHUBB LIMITED | CB | $37.9M | 237,057 | -0.04pp | 11q | +5.2%+$1.9M | |
| EVENTBRITE INC | EB | $34.4M | 1,812,425 | -0.04pp | 8q | +22.7%+$6.4M | |
| OMNICOM GROUP INC | OMC | $33.6M | 416,935 | +0.24pp | 11q | +163.3%+$20.9M | |
| RAYONIER INC | RYN | $33.6M | 934,308 | -0.11pp | 11q | -18.9%-$7.8M | |
| 3M CO | MMM | $30.1M | 151,351 | -0.02pp | 11q | +5.1%+$1.5M | |
| BCE INC | BCE | $28.5M | 571,490 | +0.09pp | 11q | +41.1%+$8.3M | |
| ALLEGHANY CORP DEL | Y | $27.5M | 41,194 | -0.20pp | 11q | -32.1%-$13.0M | |
| GRUPO TELEVISA S A B | TV | $26.5M | 1,855,066 | +0.10pp | 11q | +1.5%+$386.7K | |
| ROGERS COMMUNICATIONS INC | RCI | $25.0M | 467,877 | +0.09pp | 11q | +41.0%+$7.3M | |
| VISTEON CORP | VC | $24.6M | 203,197 | -0.15pp | 9q | -23.3%-$7.5M | |
| TRIP COM GROUP LTD | TCOM | $23.6M | 666,613 | -0.07pp | 7q | +2.9%+$655.5K | |
| TANGER INC | SKT | $22.3M | 1,180,918 | -0.07pp | 9q | -27.7%-$8.5M | |
| PRICESMART INC | PSMT | $22.1M | 243,280 | -0.05pp | 9q | +1.8%+$392.2K | |
| FREEPORT-MCMORAN INC | FCX | $20.3M | 548,304 | -0.08pp | 8q | -23.2%-$6.1M | |
| KT CORP | KT | $19.5M | 1,398,364 | -0.01pp | 11q | -1.1%-$210.6K | |
| BANCOLOMBIA S A | CIBXXXX | $19.5M | 673,863 | -0.06pp | 11q | +1.3%+$243.9K | |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | $17.8M | 147,371 | +0.03pp | 11q | +30.2%+$4.1M | |
| NOV INC | NOV | $12.5M | 814,382 | -0.43pp | 2q | -73.4%-$34.4M | |
| WABTEC | WAB | $10.5M | 128,049 | -0.44pp | 6q | -75.3%-$32.1M | |
| AXALTA COATING SYS LTD | AXTA | $9.0M | 296,732 | -0.30pp | 11q | -70.2%-$21.3M | |
| ORGANON & CO | OGN | $4.2M | 139,315 | - | new | NEW | |
| WEYERHAEUSER CO | WY | $3.4M | 98,329 | -0.69pp | 11q | -93.3%-$47.2M | |
| TE CONNECTIVITY LTD | TELXXXX | $2.1M | 15,536 | -0.61pp | 11q | -95.6%-$45.7M | |
| INMODE LTD | INMD | $367.0K | 3,871 | flat | 3q | HELD | |
| AUTOHOME INC | ATHM | $213.0K | 3,330 | flat | 5q | +20.6%+$36.4K | |
| HUYA INC | HUYA | $160.0K | 9,038 | flat | 5q | HELD | |
| MOMO INC | MOMOXXXX | $55.0K | 3,598 | flat | 5q | HELD |
By sector
Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.
| Sector | Value | Share |
|---|---|---|
| Software & IT Services | $1.4B | 17.2% |
| Retail & Consumer | $881.4M | 10.7% |
| Insurance | $836.0M | 10.1% |
| Transport & Logistics | $637.7M | 7.7% |
| Biotech & Pharma | $577.4M | 7.0% |
| Food, Drink & Tobacco | $570.7M | 6.9% |
| Banks & Lending | $457.2M | 5.5% |
| Semiconductors & Electronics | $389.2M | 4.7% |
| Business Services | $327.2M | 4.0% |
| Medical Devices | $149.7M | 1.8% |
| Autos & Aerospace | $146.7M | 1.8% |
| Industrials | $140.3M | 1.7% |
| Other sectors | $762.3M | 9.2% |
| Not classified | $963.9M | 11.7% |
Quarter by quarter
| Quarter | Value | Positions | New | Added | Trimmed | Exited | Top 10 | Days to file |
|---|---|---|---|---|---|---|---|---|
| Q2 2021 | $8.3B | 98 | 3 | 68 | 23 | 9 | 28.9% | 21 |
| Q1 2021 | $7.2B | 104 | 3 | 9 | 84 | 5 | 27.7% | 26 |
| Q4 2020 | $7.1B | 106 | 3 | 15 | 84 | 5 | 28.2% | 33 |
| Q3 2020 | $6.4B | 108 | 4 | 24 | 76 | 1 | 27.5% | 36 |
| Q2 2020 | $6.5B | 105 | 7 | 40 | 56 | 7 | 28.3% | 20 |
| Q1 2020 | $5.6B | 105 | 6 | 31 | 67 | 3 | 29.9% | 22 |
| Q4 2019 | $7.6B | 102 | 2 | 21 | 77 | 5 | 28.0% | 22 |
| Q3 2019 | $7.6B | 105 | 3 | 10 | 90 | 0 | 27.5% | 25 |
| Q2 2019 | $7.8B | 102 | 4 | 51 | 36 | 3 | 26.8% | 15 |
| Q1 2019 | $7.5B | 101 | 1 | 59 | 37 | 4 | 27.2% | 32 |
| Q4 2018 | $6.8B | 104 | 0 | 0 | 0 | 0 | 26.3% | 29 |
Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.
Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.
Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.