Marathon Asset Management Ltd reported 76 positions worth $2.20B for the quarter ended Sep 30, 2026, down 10.6% on the prior quarter. It opened 5 new positions, added to 4, trimmed 67 and exited 3. Its largest holding is CNH Industrial N.V. at 6.4% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| WFG West Fraser Timber Co., Ltd | +606.7K | – | $42.34M | 1.92% |
| BVN Buenaventura Mining Co Inc | +1.22M | – | $38.43M | 1.75% |
| GFL GFL Environmental Inc. | +771.5K | – | $32.31M | 1.47% |
| VIST Vista Energy, S.A.B. de C.V. | +474.6K | – | $31.02M | 1.41% |
| ICE Intercontinental Exchange, Inc. | +141.0K | – | $21.44M | 0.975% |
| NVDA Nvidia Corp | +15.7K | +5.6% | $3.58M | 3.08% |
| TDC Teradata Corp | +105.7K | +38.8% | $3.05M | 0.495% |
| RYN Rayonier Inc | +145.8K | +30.2% | $2.68M | 0.525% |
| WY Weyerhaeuser Co | +133.6K | +31.0% | $2.55M | 0.489% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| VIPS Vipshop Holdings Ltd | -2.76M | -100.0% | $36.58M | Exited |
| MSFT Microsoft Corp | -59.9K | -37.5% | $30.71M | 2.33% |
| ALGN Align Technology Inc | -157.0K | -100.0% | $26.47M | Exited |
| GOOGL Alphabet Inc. | -71.5K | -23.6% | $24.59M | 3.61% |
| AMZN Amazon Com Inc | -94.7K | -22.1% | $23.61M | 3.77% |
| PAYC Paycom Software, Inc. | -94.0K | -51.5% | $20.46M | 0.876% |
| BNS Bank Of Nova Scotia | -221.7K | -23.3% | $20.21M | 3.02% |
| ELV Elevance Health, Inc. | -47.5K | -21.6% | $18.45M | 3.04% |
| CNQ CANADIAN NATURAL RESOURCES Ltd | -330.8K | -23.8% | $15.75M | 2.3% |
| TIGO Millicom International Cellular Sa | -170.7K | -16.0% | $14.87M | 3.55% |
| Holding | Shares | Trade Value | Weight |
|---|---|---|---|
| WFG West Fraser Timber Co., Ltd | +606.7K | $42.34M | 1.92% |
| BVN Buenaventura Mining Co Inc | +1.22M | $38.43M | 1.75% |
| GFL GFL Environmental Inc. | +771.5K | $32.31M | 1.47% |
| VIST Vista Energy, S.A.B. de C.V. | +474.6K | $31.02M | 1.41% |
| ICE Intercontinental Exchange, Inc. | +141.0K | $21.44M | 0.975% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | CNH CNH Industrial N.V. | Industrials | 10.89M | $139.93M | 6.36% | -356.7K | -3.2% | Reduced | 0.88% |
| 2 | CCEP COCA-COLA EUROPACIFIC PARTNERS plc | Consumer Staples | 938.1K | $95.41M | 4.34% | -99.5K | -9.6% | Reduced | 0.21% |
| 3 | SCCO Southern Copper Corp/ | Basic Materials | 452.1K | $91.61M | 4.16% | -24.5K | -5.1% | Reduced | 0.05% |
| 4 | AMZN Amazon Com Inc | Consumer Discretionary | 332.9K | $82.99M | 3.77% | -94.7K | -22.1% | Reduced | 0% |
| 5 | GOOGL Alphabet Inc. | Technology | 230.8K | $79.43M | 3.61% | -71.5K | -23.6% | Reduced | 0% |
| 6 | TIGO Millicom International Cellular Sa | Communication Services | 896.1K | $78.08M | 3.55% | -170.7K | -16.0% | Reduced | 0.53% |
| 7 | NVDA Nvidia Corp | Technology | 296.2K | $67.72M | 3.08% | +15.7K | +5.6% | Added | 0% |
| 8 | ELV Elevance Health, Inc. | Healthcare | 172.0K | $66.89M | 3.04% | -47.5K | -21.6% | Reduced | 0.08% |
| 9 | BNS Bank Of Nova Scotia | Others | 729.1K | $66.47M | 3.02% | -221.7K | -23.3% | Reduced | 0.06% |
| 10 | MSFT Microsoft Corp | Technology | 99.8K | $51.21M | 2.33% | -59.9K | -37.5% | Reduced | 0% |
| 11 | CPA Copa Holdings, S.A. | Industrials | 384.7K | $50.72M | 2.31% | -29.8K | -7.2% | Reduced | 0.93% |
| 12 | CNQ CANADIAN NATURAL RESOURCES Ltd | Energy | 1.06M | $50.49M | 2.3% | -330.8K | -23.8% | Reduced | 0.05% |
| 13 | LAUR Laureate Education, Inc. | Consumer Discretionary | 1.27M | $48.49M | 2.2% | -136.0K | -9.7% | Reduced | 0.93% |
| 14 | BN BROOKFIELD Corp | Financial Services | 1.31M | $47.79M | 2.17% | -398.6K | -23.4% | Reduced | 0.06% |
| 15 | META Meta Platforms, Inc. | Technology | 65.3K | $47.33M | 2.15% | -19.9K | -23.4% | Reduced | 0% |
Tip. Select a row to see that position’s full history at Marathon Asset Management.
As of its Q3 2026 13F filing, Marathon Asset Management Ltd’s five largest positions were CNH Industrial N.V. (CNH) at 6.4%, COCA-COLA EUROPACIFIC PARTNERS plc (CCEP) at 4.3%, Southern Copper Corp/ (SCCO) at 4.2%, Amazon Com Inc (AMZN) at 3.8%, Alphabet Inc. (GOOGL) at 3.6% of the reported portfolio.
Marathon Asset Management Ltd reported a 13F portfolio worth $2.20B across 76 positions for Q3 2026. That is down 10.6% from the previous quarter.
Its largest purchases by value were West Fraser Timber Co., Ltd ($42.34M), Buenaventura Mining Co Inc ($38.43M), GFL Environmental Inc. ($32.31M). It opened 5 new positions.
Its largest sales by value were Vipshop Holdings Ltd ($36.58M), Microsoft Corp ($30.71M), Align Technology Inc ($26.47M). It exited 3 positions entirely.
From the Form 13F-HR reports Marathon Asset Management Ltd files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.