2026 Q2 Portfolio Activity
In 2026 Q2, Marathon Asset Management Ltd maintained a portfolio of 76 distinct positions. The most significant new addition was WARNER MUSIC GROUP CORP, now representing 0.50% of the total fund value. They heavily accumulated shares in TAIWAN SEMICONDUCTOR MANUFAC, increasing the position by 46.6%. Conversely, Marathon Asset Management Ltd completely exited their position in SEALED AIR CORP NEW.
Position History
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Total Positions
76
Quarter
2026 Q2
Top Holding
CNH (5.1%)
Top 10 Concentration
37.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 76
Marathon Asset Management Ltd Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
CNH
CNH INDL N V
|
Industrials | 5.13% | 4.92% |
#1
Prev: #1
|
4.6 |
—
|
-418,017 | -3.6% |
P
S
|
11,246,396 | $126,296,885 | 2023 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 4.39% | 4.06% |
#2
1
Prev: #3
|
3.8 |
—
|
-65,731 | -17.9% |
P
S
|
302,312 | $108,032,553 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CCEP
COCA-COLA EUROP...
|
Consumer Defensive | 4.22% | 3.86% |
#3
1
Prev: #4
|
3.2 |
—
|
-72,108 | -6.5% |
P
S
|
1,037,637 | $103,836,335 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 4.14% | 4.42% |
#4
2
Prev: #2
|
2.2 |
—
|
-125,171 | -22.6% |
P
S
|
427,627 | $101,881,080 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TIGO
MILLICOM INTL C...
|
Communication Services | 3.93% | 3.18% |
#5
1
Prev: #6
|
2.6 |
—
|
-40,509 | -3.7% |
P
S
|
1,066,749 | $96,817,449 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ELV
ELEVANCE HEALTH...
|
Healthcare | 3.45% | 3.01% |
#6
2
Prev: #8
|
1.9 |
—
|
-48,898 | -18.2% |
P
S
|
219,490 | $84,882,114 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SCCO
SOUTHERN COPPER...
|
Basic Materials | 3.37% | 3.29% |
#7
2
Prev: #5
|
1.8 |
—
|
-22,094 | -4.4% |
P
S
|
476,533 | $83,040,262 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BNS
BANK NOVA SCOTI...
|
Financial Services | 3.36% | 2.89% |
#8
2
Prev: #10
|
1.8 |
—
|
-138,562 | -12.7% |
P
S
|
950,832 | $82,623,829 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BN
BROOKFIELD CORP
|
Financial Services | 2.95% | 3.03% |
#9
2
Prev: #7
|
1.7 |
—
|
-250,429 | -12.8% |
P
S
|
1,705,303 | $72,732,676 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CPA
COPA HOLDINGS S...
|
Industrials | 2.62% | 1.85% |
#10
7
Prev: #17
|
1.5 |
—
|
-9,685 | -2.3% |
P
S
|
414,473 | $64,478,479 | 2022 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MU
MICRON TECHNOLO...
|
Technology | 2.51% | 1.75% |
#11
11
Prev: #22
|
1.0 |
—
|
-81,269 | -60.3% |
P
S
|
53,547 | $61,797,195 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 2.42% | 2.80% |
#12
1
Prev: #11
|
1.5 |
—
|
-37,276 | -18.9% |
P
S
|
159,718 | $59,575,839 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CNQ
CANADIAN NAT RE...
|
Energy | 2.29% | 3.00% |
#13
4
Prev: #9
|
1.4 |
—
|
-204,046 | -12.8% |
P
S
|
1,391,604 | $56,290,785 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NVDA
NVIDIA CORPORAT...
|
Technology | 2.28% | 2.39% |
#14
1
Prev: #13
|
0.9 |
—
|
-76,892 | -21.5% |
P
S
|
280,561 | $56,131,803 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GIL
GILDAN ACTIVEWE...
|
Consumer Cyclical | 2.21% | 1.59% |
#15
9
Prev: #24
|
3.4 |
—
|
314,793 | 42.4% |
P
S
|
1,056,926 | $54,472,983 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
V
VISA INC
|
Financial Services | 2.20% | 1.78% |
#16
3
Prev: #19
|
1.4 |
—
|
4,647 | 3.0% |
P
S
|
157,956 | $54,189,101 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CX
CEMEX SA EURO M...
|
Basic Materials | 2.13% | 2.03% |
#17
2
Prev: #15
|
1.4 |
—
|
-256,072 | -5.5% |
P
S
|
4,368,041 | $52,416,272 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
FNV
FRANCO NEV CORP
|
Basic Materials | 2.13% | 2.72% |
#18
6
Prev: #12
|
1.4 |
—
|
-36,703 | -12.8% |
P
S
|
250,994 | $52,352,955 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
LAUR
LAUREATE ED INC
|
Consumer Defensive | 2.08% | 2.00% |
#19
3
Prev: #16
|
1.3 |
—
|
-89,602 | -6.0% |
P
S
|
1,406,633 | $51,088,834 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
META
META PLATFORMS ...
|
Communication Services | 1.95% | 2.28% |
#20
6
Prev: #14
|
1.3 |
—
|
-18,539 | -17.9% |
P
S
|
85,206 | $47,993,919 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TRU
TRANSUNION
|
Financial Services | 1.88% | 1.51% |
#21
5
Prev: #26
|
2.8 |
—
|
72,060 | 12.7% |
P
S
|
641,352 | $46,267,133 | 2023 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CP
CANADIAN PACIFI...
|
Industrials | 1.62% | 1.59% |
#22
1
Prev: #23
|
1.1 |
—
|
-67,274 | -12.8% |
P
S
|
459,750 | $39,932,845 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MKL
MARKEL GROUP IN...
|
Financial Services | 1.62% | 1.83% |
#23
5
Prev: #18
|
1.1 |
—
|
-4,487 | -18.0% |
P
S
|
20,414 | $39,867,310 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TMO
THERMO FISHER S...
|
Healthcare | 1.55% | 1.76% |
#24
3
Prev: #21
|
1.1 |
—
|
-17,253 | -18.5% |
P
S
|
76,168 | $38,218,430 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IBKR
INTERACTIVE BRO...
|
Financial Services | 1.52% | 1.40% |
#25
2
Prev: #27
|
0.6 |
—
|
-112,584 | -20.7% |
P
S
|
430,459 | $37,467,151 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TSM
TAIWAN SEMICOND...
|
Technology | 1.52% | 0.69% |
#26
18
Prev: #44
|
3.1 |
—
|
24,810 | 46.6% |
P
S
|
78,066 | $37,340,882 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
VIPS
VIPSHOP HLDGS L...
|
Consumer Cyclical | 1.49% | 1.76% |
#27
7
Prev: #20
|
1.1 |
—
|
-167,190 | -5.7% |
P
S
|
2,758,415 | $36,576,857 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ORCL
ORACLE CORP
|
Technology | 1.41% | 1.53% |
#28
3
Prev: #25
|
1.1 |
—
|
-33,754 | -12.5% |
P
S
|
237,250 | $34,770,495 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MA
MASTERCARD INCO...
|
Financial Services | 1.25% | 1.40% |
#29
1
Prev: #28
|
1.0 |
—
|
-12,891 | -17.7% |
P
S
|
59,849 | $30,777,537 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PGR
PROGRESSIVE COR...
|
Financial Services | 1.23% | 1.33% |
#30
Prev: #30
|
0.5 |
—
|
-36,482 | -20.8% |
P
S
|
138,988 | $30,360,232 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ATS
ATS CORPORATION
|
Industrials | 1.12% | 1.18% |
#31
4
Prev: #35
|
0.9 |
—
|
-139,426 | -12.7% |
P
S
|
954,485 | $27,500,179 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ALGN
ALIGN TECHNOLOG...
|
Healthcare | 1.08% | 1.26% |
#32
Prev: #32
|
0.9 |
—
|
-34,755 | -18.1% |
P
S
|
156,954 | $26,471,781 | 2022 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SPGI
S&P GLOBAL INC
|
Financial Services | 1.06% | 1.28% |
#33
2
Prev: #31
|
0.9 |
—
|
-14,490 | -18.5% |
P
S
|
63,800 | $25,981,334 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
HDB
HDFC BANK LTD
|
Financial Services | 0.99% | 0.90% |
#34
4
Prev: #38
|
0.9 |
—
|
-8,509 | -0.9% |
P
S
|
934,604 | $24,474,369 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
FISV
FISERV INC
|
Unknown | 0.95% | 1.25% |
#35
2
Prev: #33
|
0.9 |
—
|
-107,045 | -18.3% |
P
S
|
479,075 | $23,498,380 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PAYC
PAYCOM SOFTWARE...
|
Technology | 0.93% | 1.04% |
#36
Prev: #36
|
0.9 |
—
|
-40,754 | -18.2% |
P
S
|
182,561 | $22,944,837 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SKY
CHAMPION HOMES ...
|
Consumer Cyclical | 0.85% | 0.83% |
#37
3
Prev: #40
|
0.8 |
—
|
-51,250 | -17.7% |
P
S
|
238,784 | $21,042,481 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CME
CME GROUP INC
|
Financial Services | 0.85% | 1.36% |
#38
9
Prev: #29
|
0.3 |
—
|
-24,958 | -20.8% |
P
S
|
95,173 | $21,016,591 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
KAR
OPENLANE INC
|
Unknown | 0.83% | 1.23% |
#39
5
Prev: #34
|
0.3 |
—
|
-610,238 | -55.3% |
P
S
|
494,113 | $20,377,220 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IQV
IQVIA HLDGS INC
|
Healthcare | 0.83% | 0.84% |
#40
1
Prev: #39
|
0.8 |
—
|
-23,611 | -18.3% |
P
S
|
105,388 | $20,362,632 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
HCSG
HEALTHCARE SVCS...
|
Healthcare | 0.76% | 0.69% |
#41
4
Prev: #45
|
0.3 |
—
|
-211,643 | -21.8% |
P
S
|
759,824 | $18,661,738 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TFX
TELEFLEX INCORP...
|
Healthcare | 0.75% | 0.66% |
#42
6
Prev: #48
|
0.8 |
—
|
1,595 | 1.1% |
P
S
|
145,349 | $18,423,711 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RPRX
ROYALTY PHARMA ...
|
Healthcare | 0.65% | 0.81% |
#43
2
Prev: #41
|
0.3 |
—
|
-154,977 | -35.1% |
P
S
|
285,951 | $16,033,099 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ADSK
AUTODESK INC
|
Technology | 0.65% | 0.95% |
#44
7
Prev: #37
|
0.3 |
—
|
-21,537 | -20.8% |
P
S
|
82,181 | $15,977,081 | 2022 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CHRW
C H ROBINSON WO...
|
Industrials | 0.64% | 0.68% |
#45
1
Prev: #46
|
0.3 |
—
|
-23,080 | -21.8% |
P
S
|
82,883 | $15,659,463 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TJX
TJX COS INC NEW
|
Consumer Cyclical | 0.63% | 0.80% |
#46
4
Prev: #42
|
0.3 |
—
|
-27,008 | -20.8% |
P
S
|
102,861 | $15,583,442 | 2021 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SW
SMURFIT WESTROC...
|
Consumer Cyclical | 0.61% | 0.46% |
#47
15
Prev: #62
|
2.2 |
—
|
19,335 | 6.4% |
P
S
|
322,275 | $14,907,854 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NVST
ENVISTA HOLDING...
|
Healthcare | 0.61% | 0.70% |
#48
5
Prev: #43
|
0.2 |
—
|
-157,470 | -21.8% |
P
S
|
565,684 | $14,905,773 | 2023 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
WSC
WILLSCOT HLDGS ...
|
Industrials | 0.57% | 0.29% |
#49
20
Prev: #69
|
2.2 |
—
|
50,647 | 11.6% |
P
S
|
487,406 | $14,066,241 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DLTR
DOLLAR TREE INC
|
Consumer Defensive | 0.57% | 0.62% |
#50
2
Prev: #52
|
0.2 |
—
|
-32,310 | -21.8% |
P
S
|
116,156 | $14,049,139 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 |
Showing 1-50 of 76 holdings