Marathon Asset Management (UK)’s Estee Lauder EL Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2018 Q4	–	Sell	-252,640	Closed	-$36.7M	–	105
2018 Q3	$36.7M	Sell	252,640 -173,593	-41%	-$24.1M	0.46%	75
2018 Q2	$60.8M	Buy	426,233 +341	+0.1%	+$50.5K	0.91%	46
2018 Q1	$63.8M	Sell	425,892 -246,644	-37%	-$34.2M	0.99%	37
2017 Q4	$85.6M	Sell	672,536 -199,705	-23%	-$24M	1.32%	27
2017 Q3	$94.1M	Sell	872,241 -16,638	-2%	-$1.71M	1.55%	23
2017 Q2	$85.3M	Buy	888,879 +21,516	+2%	+$1.97M	1.48%	24
2017 Q1	$73.5M	Buy	867,363 +272,148	+46%	+$22.5M	1.61%	25
2016 Q4	$45.5M	Buy	595,215 +130,927	+28%	+$10.6M	0.98%	39
2016 Q3	$41.1M	Sell	464,288 -18,858	-4%	-$1.72M	0.88%	42
2016 Q2	$44M	Buy	483,146 +9,292	+2%	+$867K	0.93%	40
2016 Q1	$44.7M	Buy	473,854 +11,828	+3%	+$1.05M	0.98%	37
2015 Q4	$40.7M	Sell	462,026 -11,287	-2%	-$961K	0.92%	44
2015 Q3	$38.2M	Buy	473,313 +558	+0.1%	+$46.8K	0.92%	42
2015 Q2	$41M	Sell	472,755 -78,050	-14%	-$6.73M	0.94%	45
2015 Q1	$45.8M	Buy	+550,805	New	+$43.4M	1.11%	40
2014 Q1	–	Sell	-579,646	Closed	-$43.7M	–	72
2013 Q4	$43.7M	Sell	579,646 -196,370	-25%	-$14.2M	1.07%	35
2013 Q3	$54.2M	Sell	776,016 -358,710	-32%	-$24.3M	1.32%	31
2013 Q2	$76M	Buy	+1,134,726	New	+$77.4M	1.8%	19