Marathon Asset Management Ltd

Q3 2025 13F-HR Holdings

Location
London, X0
Holdings as of
9/30/2025
Date filed
10/17/2025
Form type
13F-HR
Num holdings
78
Total value ($000)
$2,717,860
Net value change ($000)
-399,853 (-12.8%)
New positions
2
Sold out positions
3
Turnover %
4.1%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/11/2025 Next filing: 2/6/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
TIGO 47,789 NEW
FNV 15,056 28.3%
SW 10,360 NEW
LAUR 10,277 27.1%
SCCO 10,097 14.1%
TME 7,612 12.8%
BNS 7,221 10.6%
VIPS 5,182 9.3%
CX 4,881 11.6%
GIL 4,497 10.9%
Top Reduces (Value $000, Stocks/ETFs)
CNH INDL N V -33,821 -20.0%
ADBE -33,345 -100.0%
FISV -28,732 -31.8%
GOOGL -27,394 -66.6%
META -24,094 -24.0%
AMZN -22,274 -16.4%
ORCL -20,339 -29.5%
MSFT -18,615 -16.3%
TRU -17,819 -27.2%
MKL -17,634 -27.1%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type