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MARATHON ASSET MANAGEMENT LP

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13F filer, CIK 1279913, NEW YORK, NY

MARATHON ASSET MANAGEMENT LP reported $44,140,415 across 17 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 92.48% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001641172-25-024027

Period
2025-06-30
Reported value
$44.1M
Holdings
17
Top 10 weight
92.48%
New
8
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ETHAnew+160,000$3.05M
IBITnew+25,000$1.53M
PYPLnew+15,000$1.11M
GRAFTECH INTL LTDadded+1,066,546$1.04M
OSCRnew+45,000$965K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
LTMexited-1,962,550-$61.4M
ETHEexited-100,000-$1.52M
NBISreduced-25,000-$1.38M
NUKZreduced-20,000-$1.13M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001641172-25-024027, largest first. % of portfolio is the value over $41,912,415, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
GRAFTECH INTL LTDGRAFTECH INTL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,521,212 shares; 2024Q4: 1,749,980 shares; 2025Q1: 19,308,566 shares; 2025Q2: 20,375,112 shares 20,375,112$19.8M47.28%+1,066,546
AMDADVANCED MICRO DEVICES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 25,000 shares; 2025Q2: 25,000 shares 25,000$3.55M8.46%0Timeline
JHHYJOHN HANCOCK EXCHANGE TRADEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 125,000 shares; 2024Q4: 125,000 shares; 2025Q1: 125,000 shares; 2025Q2: 125,000 shares 125,000$3.23M7.69%0Timeline
ETHAISHARES ETHEREUM TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 160,000 shares 160,000$3.05M7.28%newTimeline
GOOGALPHABET INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 12,660 shares; 2025Q2: 12,660 shares 12,660$2.25M5.36%0Timeline
NIONIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 500,000 shares; 2025Q2: 500,000 shares 500,000$1.72M4.09%0Timeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 25,000 shares 25,000$1.53M3.65%newTimeline
NBISNEBIUS GROUP N.V.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 50,000 shares; 2025Q2: 25,000 shares 25,000$1.38M3.3%-25,000Timeline
NUKZEXCHANGE TRADED CONCEPTS TRUQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 40,000 shares; 2025Q2: 20,000 shares 20,000$1.13M2.7%-20,000Timeline
PYPLPAYPAL HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 15,000 shares 15,000$1.11M2.66%newTimeline
OSCROSCAR HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 45,000 shares 45,000$965K2.3%newTimeline
KOREKORE GROUP HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 451,396 shares; 2024Q4: 351,396 shares; 2025Q1: 351,396 shares; 2025Q2: 351,396 shares 351,396$840K2%0Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,500 shares 2,500$780K1.86%newTimeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,000 shares 5,000$567K1.35%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
TLTISHARES TR 20 YR TR BD ETFcall27,000$1.38M-9,000
SPYSTATE STR SPDR S&P 500 ETF T SHSput6,000$825Knew
CORZCORE SCIENTIFIC INC NEW COMcall1,000$26Knew

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
LTMLATAM AIRLINES GROUP SA1,962,550$61.4Mshares
ETHEGRAYSCALE ETHEREUM STAKING E100,000$1.52Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001641172-25-024027 base2025-08-14acceptance time not in the bulk data set