Marathon Asset Management LP

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed March 24, 2025), Marathon Asset Management LP reported 6 stock positions worth $107.2 million. Its top holding was Frontier Communications Pare (FYBR) at 89.4% of the portfolio, followed by Ladder Capital Corp.-REIT (LADR, 3.1%) and John Hancock High Yield ETF (JHHY, 2.9%). Compared with Q1 2024, it opened 1 new position, sold out of 2, added to 1 and reduced 1. The biggest buy was a new position in John Hancock High Yield ETF (JHHY) and the biggest sale an exit from Hertz Global (HTZ).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001279913
Portfolio Value
$107.2M (Q2 2024)
SEC Filing
0001641172-25-000342 ↗ filed Mar 24, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $215.2M Q1 2024 Q2 2024: $107.2M $107.2M Q2 2024 Q3 2024: $197.0M Q3 2024 Q4 2024: $74.0M Q4 2024 Q1 2025: $92.9M Q1 2025 Q2 2025: $41.9M Q2 2025 Q3 2025: $62.3M Q3 2025 Q4 2025: $64.3M Q4 2025 Q1 2026: $11.4M Q1 2026 Q2 2026: $38.2M Q2 2026

Holdings 6 stocks · $107.2M
FYBR Frontier Communications Pare 89.45% 3,661,246 $95.9M Reduce -30.0%
LADR Ladder Capital Corp.-REIT 3.08% 292,740 $3.3M No change
JHHY John Hancock High Yield ETF 2.94% 125,000 $3.2M New
VISN Vistance Networks Inc. filed as COMMSCOPE HLDG CO INC 2.01% 1,750,000 $2.2M Add +75.0%
BHC Bausch Health Cos Inc. 1.63% 250,000 $1.7M No change
KORE GROUP HLDGS INC 0.89% 2,256,976 $957K No change

Options reported separately and not counted above: SPY puts ($2.4M), TLT calls ($1.8M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $374K (not counted above)
SecurityClassShares / PrincipalValueChange
CMPOW Composecure Inc. -CW25 *W EXP 12/27/202 839,366$374KNo change

Total filed on the 13F, all lines: $107.5M.

Portfolio Sells Q1 2024 → Q2 2024
HTZ Hertz Global Hldgs Inc. Sold out 0.00% −24.59
JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26) Sold out 0.00% −11.72
FYBR Frontier Communications Pare Reduce -30.0% 89.45% +29.94

Portfolio Buys Q1 2024 → Q2 2024
JHHY John Hancock High Yield ETF New 2.94% +2.94
VISN Vistance Networks Inc. Add +75.0% 2.01% +1.40

Options Activity Q1 2024 → Q2 2024
SPY SS SPDR S&P 500 ETF Trust-US put Reduce -26.7% 11,000 $2.4M
TLT iShares 20+ Year Treasury BD call New 40,000 $1.8M
IWM iShares Russell 2000 ETF put Sold out 6,635 $242Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 4$38.2MRXT, IHRT, EAF, JHHY
Q1 2026 2$11.4MEAF, JHHY
Q4 2025 12$64.3MSPY, EAF, JHHY, UNH, PYPL
Q3 2025 15$62.3MEAF, CNK, UNH, JHHY, AMD
Q2 2025 14$41.9MEAF, AMD, JHHY, ETHA, GOOG
Q1 2025 10$92.9MLTM, EAF, JHHY, AMD, GOOG
Q4 2024 5$74.0MLTM, VISN, JHHY, EAF, KORE
Q3 2024Amended 7$197.0MFYBR, LTM, EAF, AMC, VISN
Q2 2024Amended 6$107.2MFYBR, LADR, JHHY, VISN, BHC
Q1 2024Amended 7$215.2MFYBR, HTZ, JETBLUE AIRWAYS CORP (JBLU 0.5 04/01/26), LADR, BHC