0001040592-11-000017.txt : 20110414 0001040592-11-000017.hdr.sgml : 20110414 20110414115150 ACCESSION NUMBER: 0001040592-11-000017 CONFORMED SUBMISSION TYPE: 13F-HR PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20110331 FILED AS OF DATE: 20110414 DATE AS OF CHANGE: 20110414 EFFECTIVENESS DATE: 20110414 FILER: COMPANY DATA: COMPANY CONFORMED NAME: MARATHON ASSET MANAGEMENT LLP CENTRAL INDEX KEY: 0001040592 IRS NUMBER: 954328983 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 13F-HR SEC ACT: 1934 Act SEC FILE NUMBER: 028-03743 FILM NUMBER: 11758969 BUSINESS ADDRESS: STREET 1: ORION HOUSE STREET 2: 5 UPPER ST MARTIN'S LANE CITY: LONDON STATE: X0 ZIP: WC2H 9EA BUSINESS PHONE: 00442074972399 MAIL ADDRESS: STREET 1: ORION HOUSE STREET 2: 5 UPPER ST MARTIN'S LANE CITY: LONDON STATE: X0 ZIP: WC2H 9EA FORMER COMPANY: FORMER CONFORMED NAME: MARATHON ASSET MANAGEMENT (SERVICES) LTD DATE OF NAME CHANGE: 20050208 FORMER COMPANY: FORMER CONFORMED NAME: MARATHON ASSET MANAGEMENT LTD/LONDON DATE OF NAME CHANGE: 19990324 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 : March 31, 2011 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: (00) 44 (0)20 7497 2211 Signature, Place and Date of Signing: Simon Davies London, United Kingdom April 14, 2011 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: 102 Form 13F Information Table Value Total: $8,429,514 (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 ALCATEL SA-SPONSORED ADR COM 013904305 9933 1709671 SH SHARED 0 1282719 426952 ALLIANCE DATA SYSTEMS CORP COM 018581108 62324 725621 SH SHARED 0 553062 172559 ALTRIA GROUP COM 02209S103 36769 1412560 SH SHARED 0 1047431 365129 AMAZON COM INC COM 023135106 355636 1974332 SH SHARED 0 1503071 471261 AMERICAN MOVIL - SAB DE CV COM 02364W105 33696 579960 SH SHARED 0 422507 157453 AMERICAN EXPRESS CO COM 025816109 98705 2183737 SH SHARED 0 1664745 518992 AMERICAN GREETINGS CORP - CLASS A COM 026375105 105292 4461511 SH SHARED 0 3399937 1061574 AMERIPRISE FIN INC COM 03076C106 7300 119509 SH SHARED 0 89546 29963 AMR CORP 6.25 10 15 14 COM 001765BC9 5505 5287000 SH SHARED 0 3954000 1333000 AMR CORP COM 001765106 77987 12072355 SH SHARED 0 9206852 2865503 AOL INC COM 00184X105 1331 68164 SH SHARED 0 51982 16182 ASCENT MEDIA CORP A COM 043632108 1442 29520 SH SHARED 0 22373 7147 BAKER HUGHES INC COM 057224107 10975 149467 SH SHARED 0 112185 37282 BANCO SANTANDER ADR COM 05964H105 2753 235077 SH SHARED 0 176887 58190 BANK OF AMERICA CORP COM 060505104 231369 17357017 SH SHARED 0 13239460 4117557 BCE COM 05534B760 69625 1922991 SH SHARED 0 1442435 480556 BERKSHIRE HATHAWAY "B" COM 084670207 266881 3191212 SH SHARED 0 2447952 743260 BLUE NILE INC COM 09578R103 127203 2354963 SH SHARED 0 1791517 563446 BRISTOL-MYERS SQUIBB CO COM 110122108 21985 831801 SH SHARED 0 624618 207183 BROOKFIELD ASSET MANAGE-CL A COM 112585104 16216 499570 SH SHARED 0 402242 97328 CABLEVISION SYSTEMS NY GROUP A COM 12686C109 610465 17638407 SH SHARED 0 13427896 4210511 CAVCO INDUSTRIES INC COM 149568107 4761 105425 SH SHARED 0 79416 26009 CB RICHARD ELLIS GROUP INC A COM 12497T101 170599 6389480 SH SHARED 0 4867741 1521739 CBS CORP CLASS B COM 124857202 83494 3334419 SH SHARED 0 2538833 795586 CBS CORP - CL A COM 124857103 27817 1107376 SH SHARED 0 841377 265999 CHUNGHWA TELECOM CO LTD SPON ADR COM 17133Q502 52 1667 SH SHARED 0 1667 0 CINCINNATI BELL INC COM 171871106 30146 11248337 SH SHARED 0 8610043 2638294 CIT GROUP INC COM 125581801 58026 1363706 SH SHARED 0 1037528 326178 CITIGROUP INC COM 172967101 12201 2760393 SH SHARED 0 2066751 693642 COSTCO WHOLESALE CORP COM 22160K105 357876 4881019 SH SHARED 0 3712060 1168959 DELL INC COM 24702R101 4943 340686 SH SHARED 0 252487 88199 DELTA AIR LINES COM 247361702 125958 12852889 SH SHARED 0 9792274 3060615 DIRECTV GROUP INC COM 25490A101 44161 943611 SH SHARED 0 718033 225578 DISCOVERY COMMUNICATIONS A COM 25470F104 18108 453825 SH SHARED 0 345027 108798 DISCOVERY COMMUNICATIONS C COM 25470F302 12288 348998 SH SHARED 0 265477 83521 DST SYSTEMS INC COM 233326107 72638 1375206 SH SHARED 0 1049349 325857 EBAY INC COM 278642103 98568 3175521 SH SHARED 0 2418010 757511 ESTEE LAUDER COMPANIES CLASS A COM 518439104 153774 1595831 SH SHARED 0 1219731 376100 EXPEDITORS INTL WASH INC COM 302130109 30333 604854 SH SHARED 0 457980 146874 FORRESTER RESEARCH INC COM 346563109 36699 958439 SH SHARED 0 730427 228012 FRESENIUS MEDICAL CARE ADR COM 358029106 99626 1475498 SH SHARED 0 1057965 417533 GARTNER INC COM 366651107 252803 6066785 SH SHARED 0 4622226 1444559 HANESBRANDS INC COM 410345102 49155 1817845 SH SHARED 0 1373761 444084 HEALTH MANAGEMENT ASSOCIATES INC A COM 421933102 29764 2730653 SH SHARED 0 2056495 674158 HEIDRICK & STRUGGLES COM 422819102 10199 366458 SH SHARED 0 275454 91004 HEWLETT PACKARD CO COM 428236103 91473 2232688 SH SHARED 0 1697286 535402 HUNT (JB) TRANSPORT SVCS INC COM 445658107 3194 70329 SH SHARED 0 52954 17375 IMPERIAL OIL LTD CANADA COM 453038408 183588 3604878 SH SHARED 0 2732825 872053 INTERPUBLIC GROUP OF COS INC COM 460690100 19201 1527553 SH SHARED 0 1149124 378429 JP MORGAN CHASE AND CO COM 46625H100 5746 124643 SH SHARED 0 92969 31674 K12 INC COM 48273U102 53336 1582657 SH SHARED 0 1209813 372844 KANSAS CITY SOUTHERN COM 485170302 229019 4206047 SH SHARED 0 3203604 1002443 KBH US COM 48666K109 36520 2935704 SH SHARED 0 2228473 707231 LAZARD LTD - C1 A COM G54050102 161508 3884271 SH SHARED 0 2958975 925296 LEGG MASON INC COM 524901105 191367 5302496 SH SHARED 0 4045479 1257017 LEVEL 3 COMM INC COM 52729N100 40984 27880027 SH SHARED 0 21179070 6700957 LIBERTY GLB SERIES C COM 530555309 177967 4450281 SH SHARED 0 3383235 1067046 LIBERTY GLOBAL INC COMMON CLASS A COM 530555101 241933 5842387 SH SHARED 0 4443237 1399150 LIBERTY MEDIA HOLD CAP SER A COM 53071M302 44991 610714 SH SHARED 0 464919 145795 LIBERTY MEDIA STARZ COM 53071M708 18068 232839 SH SHARED 0 176607 56232 LIBERTY MEDIA-INTERACTIVE A COM 53071M104 47380 2953859 SH SHARED 0 2244327 709532 LSI CORPORATION COM 502161102 83693 12307839 SH SHARED 0 9336719 2971120 LUXOTTICA ADR COM 55068R202 178809 5454818 SH SHARED 0 4220813 1234005 M & T BANK CORP COM 55261F104 53370 603250 SH SHARED 0 460237 143013 MADISON SQUARE GARDEN INC-A COM 55826P100 14890 551671 SH SHARED 0 419820 131851 MARSHALL & ILSLEY CORP COM 571837103 70207 8786868 SH SHARED 0 6702768 2084100 MBIA INC COM 55262C100 103035 10262409 SH SHARED 0 7793858 2468551 MERCK & CO INC COM 58933Y105 10533 319095 SH SHARED 0 238042 81053 MERCURY GENERAL CORP COM 589400100 44158 1128482 SH SHARED 0 855438 273044 MGIC INVESTMENT CORP COM 552848103 35977 4046931 SH SHARED 0 3058183 988748 MGM MIRAGE COM 552953101 91602 6965945 SH SHARED 0 5336861 1629084 MICROSOFT CORP COM 594918104 61664 2428669 SH SHARED 0 1841704 586965 MOHAWK INDUSTRIES COM 608190104 5308 86810 SH SHARED 0 64702 22108 MONSANTO CO COM 61166W101 88761 1228351 SH SHARED 0 936527 291824 MOODYS CORPORATION COM 615369105 50078 1476781 SH SHARED 0 1121819 354962 NII HOLDINGS 3.125pctCVNT15062012 USD COM 62913FAJ1 9730 9718000 SH SHARED 0 6537000 3181000 NII HOLDINGS INC COM 62913F201 130608 3134340 SH SHARED 0 2444485 689855 NORTHROP GRUMMAN CORPORATION COM 666807102 20476 326525 SH SHARED 0 257246 69279 PHILIP MORRIS INTERNATIONAL W/1 COM 718172109 76295 1162507 SH SHARED 0 859437 303070 PITNEY BOWES INC COM 724479100 8925 347397 SH SHARED 0 260128 87269 PRICELINE.COM INC COM 741503403 234676 463383 SH SHARED 0 352106 111277 PRIMEDIA COM 74157K846 18333 3764451 SH SHARED 0 2842476 921975 PULTE HOMES INC COM 745867101 87463 11819345 SH SHARED 0 9007347 2811998 RAYTHEON COMPANY COM 755111507 50552 993752 SH SHARED 0 748183 245569 REGIONS FINANCIAL CORP COM 7591EP100 51075 7035164 SH SHARED 0 5368664 1666500 ROGERS COMMUNICATIONS INC. CLASS B COM 775109200 379656 10479862 SH SHARED 0 7869996 2609866 SCOTTS MIRACLE GRO COM 810186106 93172 1610572 SH SHARED 0 1223989 386583 SHERWIN-WILLIAMS CO COM 824348106 6006 71509 SH SHARED 0 53286 18223 SL GREEN REALTY CORP COM 78440X101 212973 2832092 SH SHARED 0 2151728 680364 SOTHEBYS COM 835898107 113470 2157224 SH SHARED 0 1643313 513911 SOTHERBYS CNV 3.125PCT 15/06/13 COM 835898AC1 19861 12083000 SH SHARED 0 9881726 2201274 SYNOVUS FINANCIAL CORP COM 87161C105 35185 14660592 SH SHARED 0 11182292 3478300 TAIWAN SEMICONDUCTOR - SP ADR COM 874039100 1870 153532 SH SHARED 0 153532 0 TELEFONOS DE MEXICO SA ADR COM 879403780 5924 324399 SH SHARED 0 233677 90722 THE KROGER CO COM 501044101 83296 3475020 SH SHARED 0 2647958 827062 TIME WARNER INC COM 887317105 67271 1884334 SH SHARED 0 1433009 451325 TOWERS WATSON & CO COM 891894107 139329 2512246 SH SHARED 0 1910954 601292 ULTRAPETROL (BAHAMAS) LTD COM P94398107 10227 2013236 SH SHARED 0 1183727 829509 US AIRWAYS GROUP INC COM 90341W108 56033 6433218 SH SHARED 0 4900529 1532689 US AIRWAYS 7 1/4 05/15/14 COM 911905AC1 4468 2062000 SH SHARED 0 1566000 496000 VIAD CORP COM 92552R406 92974 3883630 SH SHARED 0 2935755 947875 XEROX COM 984121103 43924 4124289 SH SHARED 0 3126145 998144