13F-HR 1 holdings.txt UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 13F FORM 13F COVER PAGE Report for the Calendar Year or Quarter Ended : September 30, 2007 Check here if Amendment [ ]; Amendment number: 1 This Amendment (Check only one.): [ ] is a restatement. [ ] adds new holdings entries. Institutional Investment Manager Filing this Report: Name: Marathon Asset Management LLP Address: Orion House 5 Upper St. Martins Lane London WC2H 9EA United Kingdom 13F File Number: 28-6422 The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorised to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form. Person Signing this Report on behalf of Reporting Manager: Name: Simon Davies Title: Compliance Officer Phone: (011) 44 20 7497 2211 Signature, Place and Date of Signing: Simon Davies London, United Kingdom November 6th, 2007 Report Type (Check only one.): [X] 13F HOLDINGS REPORT [ ] 13F NOTICE [ ] 13F COMBINATION REPORT List of Other Managers Reporting for this Manager: N/A I AM SIGNING THIS REPORT AS REQUIRED BY THE SECURITIES EXCHANGE ACT OF 1934. FORM 13F REPORT SUMMARY: Number of Other Included Managers: 0 Form 13F Information Table Entry Total: 73 Form 13F Information Table Value Total: $8,464,019 (thousands) List of Other Included Managers: No. 13F File Number Name FORM 13 F INFORMATION TABLE
FORM 13F INFORMATION TABLE NAME OF ISSUER TITLE OF VALUE SHARES/ SH/ INVSTMT OTHER VOTING AUTHORITY CLASS CUSIP x$1000 PRN AMT PRN DSCRETN MANAGERS SOLE SHARED NONE 99 CENTS ONLY STORES COM 65440K106 16086 1566300 SH SHARED 0 1104600 461700 ABITIBI CONSOLIDATED INC COM CA0039241074 17175 9697283 SH SHARED 0 6272468 3424815 ALCAN INC CANADA COM CA0137161059 218188 2184958 SH SHARED 0 1421396 763562 ALCATEL SA-SPONSORED ADR COM 013904305 58007 5698168 SH SHARED 0 4130864 1567304 ALTRIA GROUP COM 02209S103 92997 1337512 SH SHARED 0 992180 345332 AMAZON COM INC COM 023135106 102288 1098100 SH SHARED 0 800400 297700 AMERICAN MOVIL - SAB DE CV COM 02364W105 42863 669727 SH SHARED 0 466466 203261 AMERICAN EXPRESS CO COM 025816109 75996 1280039 SH SHARED 0 925184 354855 AMERICAN GREETINGS CORP - CLASS A COM 026375105 111791 4234500 SH SHARED 0 3069950 1164550 AMERIPRISE FIN INC COM 03076C106 13879 219922 SH SHARED 0 161032 58890 AMR CORP COM 001765106 89109 3997726 SH SHARED 0 2881526 1116200 ANGLO AMERICAN PLC - UNSP ADR COM 03485P201 15536 464448 SH SHARED 0 322523 141925 BAKER HUGHES INC COM 057224107 57042 631200 SH SHARED 0 460400 170800 BCE COM 05534B760 75583 1882377 SH SHARED 0 1222092 660285 BERKSHIRE HATHAWAY "B" COM 084670207 196675 49766 SH SHARED 0 35966 13800 BLOCKBUSTER INC B COM 093679207 37981 7831083 SH SHARED 0 5725783 2105300 BLUE NILE INC COM 09578R103 131213 1394100 SH SHARED 0 1017500 376600 BRISTOL-MYERS SQUIBB CO COM 110122108 58990 2046835 SH SHARED 0 1479646 567189 CABLEVISION SYSTEMS NY GROUP A COM 12686C109 443818 12702300 SH SHARED 0 9218400 3483900 CBS CORP - CL A COM 124857103 27215 863709 SH SHARED 0 628709 235000 CBS CORP CLASS B COM 124857202 19294 612500 SH SHARED 0 442500 170000 CINCINNATI BELL INC COM 171871106 47537 9622797 SH SHARED 0 6970197 2652600 CLEAR CHANNEL COMMS COM 184502102 183950 4913188 SH SHARED 0 3561988 1351200 COSTCO WHOLESALE CORP COM 22160K105 348110 5672314 SH SHARED 0 4109214 1563100 DELL INC COM 24702R101 67641 2450758 SH SHARED 0 1774947 675811 DISCOVERY HOLDING CO COM 25468Y107 82684 2865990 SH SHARED 0 2087654 778336 DST SYSTEMS INC COM 233326107 66647 776684 SH SHARED 0 565484 211200 EMBARQ CORP W/I COM 29078E105 14407 259114 SH SHARED 0 188998 70116 FLEETWOOD ENTERPRISES COM 339099103 44819 5242000 SH SHARED 0 3805300 1436700 FORRESTER RESEARCH INC COM 346563109 10148 430544 SH SHARED 0 329454 101090 FRESENIUS MEDICAL CARE ADR COM 358029106 132737 2501637 SH SHARED 0 1830996 670641 GARTNER INC COM 366651107 129817 5307300 SH SHARED 0 3844700 1462600 HANESBRANDS INC COM 410345102 27151 967600 SH SHARED 0 703000 264600 HEWLETT PACKARD CO COM 428236103 176457 3544034 SH SHARED 0 2568534 975500 IMPERIAL OIL LTD CANADA COM 453038408 252540 5091282 SH SHARED 0 3277153 1814129 KANSAS CITY SOUTHERN INDUSTRIES COM 485170302 116154 3610638 SH SHARED 0 2614172 996446 KRAFT FOODS INC A COM 50075N104 31899 924340 SH SHARED 0 686340 238000 LAZARD LTD - CI A COM 054050102 62188 1466700 SH SHARED 0 1064400 402300 LEARNING TREE INTERNATIONAL COM 522015106 4119 231794 SH SHARED 0 170194 61600 LEVEL 3 COMM INC COM 52729N100 41154 8850297 SH SHARED 0 6466897 2383400 LIBERTY GLB SERIES C COM 530555309 154612 3999278 SH SHARED 0 2896212 10103066 LIBERTY GLOBAL INC COMMON CLASS A COM 530555101 176999 4314933 SH SHARED 0 3126767 1188166 LIBERTY MEDIA HOLD CAP SER A COM 53071M302 54494 436546 SH SHARED 0 316643 119903 LIBERTY MEDIA-INTERACTIVE A COM 53071M104 41861 2179144 SH SHARED 0 1581326 597818 LIVE NATION INC COM 538034109 4297 202201 SH SHARED 0 148204 53997 LSI CORPORATION COM 502161102 82590 11130771 SH SHARED 0 8072907 3057864 LUXOTTICA ADR COM 55068R202 247461 7304038 SH SHARED 0 5548817 1755221 MBIA INC COM 55262C100 57173 936493 SH SHARED 0 679376 257117 MERCURY GENERAL CORP COM 589400100 60093 1114276 SH SHARED 0 796920 317356 MGIC INVESTMENT CORP COM 552848103 27420 848662 SH SHARED 0 616062 232600 MICROSOFT CORP COM 594918104 50931 1728823 SH SHARED 0 1261323 467500 MOODYS CORPORATION COM 615369105 91449 1814468 SH SHARED 0 1316640 497828 NATUZZI S.P.A. COM 63905A101 11269 1910072 SH SHARED 0 1436267 473805 NORTEL NETWORKS COM CA6565685089 22427 1321823 SH SHARED 0 709674 612149 NORTEL NETWORKS - US LISTING COM 656568508 34989 2060629 SH SHARED 0 1607671 452958 NORTHWEST AIRLINES COM 667280408 52845 2968800 SH SHARED 0 2154000 814800 PITNEY BOWES INC COM 724479100 136464 3004500 SH SHARED 0 2175800 828700 PRICELINE.COM INC COM 741503403 139932 1576700 SH SHARED 0 1144500 432200 PRIMEDIA COM 74157K846 48600 3461526 SH SHARED 0 2536032 925494 RAYTHEON COMPANY COM 755111507 54802 858704 SH SHARED 0 632404 226300 ROGERS COMMUNICATIONS INC. CLASS B COM CA7751092007 475136 10427174 SH SHARED 0 6683354 3743820 SCHERING-PLOUGH CORP COM 806605101 82101 2595682 SH SHARED 0 1880982 714700 SCOTTS MIRACLE GRO COM 810186106 106263 2485682 SH SHARED 0 1803150 682532 SUN MICROSYSTEMS INC COM 866810104 133025 23669892 SH SHARED 0 17144617 6525275 SUN-TIMES MEDIA GROUP INC COM 86688Q100 6893 3036503 SH SHARED 0 2172771 863732 SUPERIOR ESSEX INC COM 86815V105 120352 3228317 SH SHARED 0 2341600 886717 TAIWAN SEMICONDUCTOR - SP ADR COM 874039100 903 89242 SH SHARED 0 89242 0 TELEFONOS DE MEXICO SA ADR COM 879403780 14232 432972 SH SHARED 0 308018 124954 THE KROGER CO COM 501044101 88369 3098500 SH SHARED 0 2249500 849000 US AIRWAYS GROUP INC COM 90341W108 26214 998629 SH SHARED 0 730129 268500 VIAD CORP COM 92552R406 89425 2484030 SH SHARED 0 1798930 685100 WATSON WYATT WORLDWIDE INC A COM 942712100 87579 1948800 SH SHARED 0 1414700 534100 XEROX COM 984121103 141477 8159019 SH SHARED 0 5917086 2241933