Clients
Marathon Asset Management Limited serves 42 clients, 18 of them pooled investment vehicles. The average client has about $930 million with the firm.
- Investment companies3 clients23%
- Pooled investment vehicles18 clients28%
- Pension and profit-sharing plans7 clients4%
- Charitable organizations14%
- State or municipal government entities14 clients25%
- OtherSovereign wealth funds and foreign official institutions, Insurance companies, Corporations and other businesses6%
Show client breakdownHide client breakdown
| Client type | Clients | Regulatory AUM | Share | Avg. per client |
|---|---|---|---|---|
| Investment companies | 3 | $8,881,644,639 | 22.7% | $2.96B |
| Pooled investment vehicles | 18 | $11,064,047,455 | 28.3% | $614.7M |
| Pension and profit-sharing plans | 7 | $1,387,459,218 | 3.6% | $198.2M |
| Charitable organizations | Not reported | $5,442,030,170 | 13.9% | — |
| State or municipal government entities | 14 | $9,816,126,050 | 25.1% | $701.2M |
| Insurance companies | Not reported | $232,457,972 | 0.6% | — |
| Sovereign wealth funds and foreign official institutions | Not reported | $2,101,357,721 | 5.4% | — |
| Corporations and other businesses | Not reported | $117,148,993 | 0.3% | — |
| Total | 42 | $39,042,272,218 | 100% | $929.6M |
- Clients
- 3
- Regulatory AUM
- $8,881,644,639
- Share
- 22.7%
- Avg. per client
- $2.96B
- Clients
- 18
- Regulatory AUM
- $11,064,047,455
- Share
- 28.3%
- Avg. per client
- $614.7M
- Clients
- 7
- Regulatory AUM
- $1,387,459,218
- Share
- 3.6%
- Avg. per client
- $198.2M
- Clients
- Not reported
- Regulatory AUM
- $5,442,030,170
- Share
- 13.9%
- Avg. per client
- —
- Clients
- 14
- Regulatory AUM
- $9,816,126,050
- Share
- 25.1%
- Avg. per client
- $701.2M
- Clients
- Not reported
- Regulatory AUM
- $232,457,972
- Share
- 0.6%
- Avg. per client
- —
- Clients
- Not reported
- Regulatory AUM
- $2,101,357,721
- Share
- 5.4%
- Avg. per client
- —
- Clients
- Not reported
- Regulatory AUM
- $117,148,993
- Share
- 0.3%
- Avg. per client
- —
Total
- Clients
- 42
- Regulatory AUM
- $39,042,272,218
- Share
- 100%
- Avg. per client
- $929.6M
What it does
Marathon Asset Management Limited provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions. It is paid through a percentage of assets and performance-based fees.
Marathon Asset Management Limited advises 8 private funds.
100.0% of assets ($39.04B across 50 accounts) are managed with discretion. 46% of clients are outside the U.S., and 0 clients received advice without assets under management last fiscal year.
What the accounts hold
- Stocks97%
- Cash2%
Filed values cover 99%. The neutral 1% gap has no reported category.
Custodians
Marathon Asset Management Limited’s client accounts are held mainly at State Street Bank and Trust, with 24% of managed assets, and The Bank of New York Mellon, with 16%. Marathon Asset Management Limited has custody of client assets.
- The Bank of New York MellonThe Bank of New York Mellon Corporation · New York, NY · $6.12B16%
- State Street Bank and TrustState Street Bank and Trust Company · Boston, MA · $9.24B24%
- The Hongkong and Shanghai Banking Corporation LimitedThe Hongkong and Shanghai Banking Corporation Limited · London · $2.10B5%
- All other custodians$21.57B55%
Ownership and leadership
William Arah owns 75% or more of Marathon Asset Management Limited.
- Owns 75% or more of Marathon Asset Management Limited
William Arah
Control person · since November 2003
- Owns 10% to 25% of Marathon Asset Management Limited
M.a.m Investments LTD
Control person · since August 2021
- Owns 25% to 50% of M.a.m Investments LTD
The W.j.arah Overseas Trust
Control person · since February 1987
VG Corporate Trustee Limited
Corporate trustee · Control person · since December 2016
- Owns 25% to 50% of M.a.m Investments LTD
The J.j.hosking Overseas Trust
Control person · since October 1986
- Owns 75% or more of The J.j.hosking Overseas Trust
Jeremy Hosking
Control person · since October 1986
SG Kleinworth Hambros Bank (ci) Limited
Corporate trustee · Control person · since December 2017
- Owns 25% to 50% of M.a.m Investments LTD
Neil Mark Ostrer
Control person · since April 2008
Leadership
- James BeveridgeChief Financial Officer
- William ArahDirector
- James BennettChief Risk and Compliance Officer
- Charles CarterManaging Director
- Dianna GonzalesburdinNon-Executive Director
- Robert HingleyChair
- Claire HoldsworthGeneral Counsel
- Jeremy HoskingRetired Non-Executive Shareholder
- Neil OstrerNon-Executive Director
Staff
- 74 employees
- 16 in advisory functions
Reported holdings
Marathon Asset Management Limited’s reported 13F holdings total $2.46B across 74 positions, and the ten largest make up 37.6% of it.
- $2.46B
- Reported 13F value
- 74
- Positions
- 37.6%
- In the 10 largest
- −5.6%
- Value vs. prior quarter
- Cnh Indl N V5.1%
- Alphabet Inc.4.4%
- Coca-cola Europacific Partne4.2%
- Amazon Com Inc.4.1%
- Millicom Intl Cellular S A3.9%
- Elevance Health Inc. Formerly3.4%
- Southern Copper Corp.3.4%
- Bank Nova Scotia B C3.4%
- Brookfield Corp.3.0%
- Copa Holdings SA2.6%
Together, the ten largest are 37.6% of reported value.
A 13F covers only exchange-traded long positions the firm holds with discretion, so this $2.46B is not its $39.04B in regulatory assets and does not represent any individual client's portfolio.
Fees
Marathon Asset Management Limited is paid through a percentage of assets under management and performance-based fees.
Marathon Asset Management Limited’s fee rates are not included in this profile. Find its brochure on the SEC’s site.
Offices and registrations
Besides its headquarters, Marathon Asset Management Limited has 0 offices, with 1 listed address with no US state reported.
Registration details
- Legal name
- Marathon Asset Management Limited
- Headquarters
- The Floral Building, 27b Floral Street, London, United Kingdom WC2E 9DP
- Phone
- 442074972211
- Website
- Not reported
- SEC file
- 801-63397
- Structure
- other (specify) organized in United Kingdom
- Fiscal year end
- March
This directory does not report disciplinary history, for any firm or individual, in either direction. The SEC publishes the complete record, including any disciplinary events, and it is the authoritative place to check one. See this firm's record on adviserinfo.sec.gov
Common questions
How many clients does Marathon Asset Management Limited have?
Marathon Asset Management Limited has 42 clients and manages $39 billion for them, as of May 2026. They include 18 pooled investment vehicles, 14 state or municipal government entities and 7 pension and profit-sharing plans.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 5 May 2026
What services does Marathon Asset Management Limited offer?
Marathon Asset Management Limited provides portfolio management for investment companies, portfolio management for pooled vehicles and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Marathon Asset Management Limited use?
Marathon Asset Management Limited’s separately managed account assets are held at State Street Bank and Trust Company (Boston, MA), with $9,244,753,089, The Bank of New York Mellon Corporation (New York, NY), with $6,124,631,604 and The Hongkong and Shanghai Banking Corporation Limited (London), with $2,101,357,721. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 5 May 2026
How many financial advisors does Marathon Asset Management Limited have?
Marathon Asset Management Limited has 0 investment adviser representatives registered with state securities authorities, out of 74 employees, and 16 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Marathon Asset Management Limited invest in?
At the end of its last fiscal year, Marathon Asset Management Limited’s separately managed accounts held 97% exchange-traded equities and 2% cash and equivalents. It advises 8 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Marathon Asset Management Limited?
Marathon Asset Management Limited is owned through a chain of holding companies by Neil Mark Ostrer and Jeremy Hosking. Its direct owners are William Arah (75% or more) and M.a.m Investments LTD (10% to 25%).
Source: Form ADV Part 1A, Schedules A and B, filed 5 May 2026
How does Marathon Asset Management Limited get paid?
Marathon Asset Management Limited is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file