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Marathon Asset Management LTD
Marathon Asset Management Ltd is the London-based arm of Marathon Asset Management, a leading global asset manager founded in 1998. The firm specializes in public and private credit markets, including direct lending, opportunistic credit, asset-based lending, transportation finance, healthcare finance, and real estate finance. Marathon operates globally with over 190 employees and manages investments across more than 90 countries, serving institutional clients such as pension funds, endowments, insurance companies, and other large-scale investors. Marathon Asset Management has invested over $250 billion since inception and remains focused on rigorous risk management and disciplined investment processes.
Investment Strategy
Marathon Asset Management Ltd employs a multi-strategy approach focused on global credit markets, targeting diversified opportunities in direct lending, opportunistic credit, asset-based lending, transportation, healthcare, real estate, and specialty finance. The cornerstone of its investment philosophy is robust risk management with cycle-tested market intelligence, tailored transaction structuring, thoughtful portfolio construction, and disciplined oversight via risk committees. The firm aims to deliver superior returns through deep specialization, scale, speed, and collaboration, leveraging real-time intelligence and an integrated global platform to identify and capitalize on credit market inefficiencies across public and private sectors.
Latest 13F Filing Activity
Marathon Asset Management LTD filed their most recent 13F report on Sep 30, 2025 disclosing 77 equity positions with a total 13F market value of $3B. The fund increased holdings in Millicom Intl Cellular S A, Franco Nev Corp., Smurfit Westrock PLC among other positions. Marathon Asset Management LTD reduced exposure to Adobe Inc., Fiserv Inc., Alphabet Inc. among others.
Top Holdings
Equity Positions (77)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A AMZN | AMAZON COM INC | 4.18% | $113.6M | 517,446 | $187.82 | $219.57 | -$22.3M |
C CCEP | COCA-COLA EUROPACIFIC PARTNE | 3.88% | $105.3M | 1,165,190 | $56.36 | $90.41 | -$4.1M |
M MSFT | MICROSOFT CORP | 3.52% | $95.7M | 184,741 | $336.34 | $517.95 | -$18.6M |
B BN | BROOKFIELD CORP | 3.51% | $95.4M | 1,390,733 | $35.65 | $45.72 | +$4.4M |
| ALPHABET INC | 3.38% | $91.8M | 377,542 | $133.13 | $243.10 | +$1.2M |
Industry Allocation
Investment Team (24)
| Name | Role | Location | |
|---|---|---|---|
A Andrew Szmulewicz | Portfolio Manager - Emerging Markets | New York, NY , United States | |
C Christopher Cronin | Analyst | New York, NY , United States | |
D David Siegel | Portfolio Manager | New York, NY , United States | |
 | Partner | New York, NY , United States | |
 | Associate | New York, NY , United States | |
 | Associate | New York, NY , United States | |
 | Partner | New York, NY , United States | |
 | Senior Investment Analyst | New York, NY , United States | |
J Jennipher Musa | Analyst | New York, NY , United States | |
K Karen Lau | Senior Portfolio Manager, Head of CLOs | New York, NY , United States |
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