Marathon Asset Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
BANCO MACRO SA	SPON ADR B	05961W105	1,105	25,000	SH		SOLE		25,000	0	0
BERRY PETE CORP	COM	08579X101	17,136	1,958,374	SH		SOLE		1,958,374	0	0
CAESARS ENTMT CORP	COM	127686103	14,891	2,193,019	SH		SOLE		2,193,019	0	0
CENTRAL PUERTO S A	SPONSORED ADR	155038201	920	100,000	SH		SOLE		100,000	0	0
CITY OFFICE REIT INC	COM	178587101	1,025	100,000	SH		SOLE		100,000	0	0
CONSTELLIUM NV	CL A	N22035104	12,283	1,757,293	SH		SOLE		1,757,293	0	0
CORPORACION AMER ARPTS S A	COM	L1995B107	1,408	212,441	SH		SOLE		212,441	0	0
FIVE POINT HOLDINGS LLC	COM CL A	33833Q106	8,088	1,165,392	SH		SOLE		1,165,392	0	0
GRUPO SUPERVIELLE S A	SPONSORED ADR	40054A108	1,953	225,000	SH		SOLE		225,000	0	0
IRSA PROPIEDADES COMERCIALES	SPONSORED ADR	463588103	38	2,078	SH		SOLE		2,078	0	0
ISHARES TR	IBOXX HI YD ETF	464288513	251,410	3,100,000	SH		SOLE		3,100,000	0	0
LADDER CAP CORP	CL A	505743104	4,379	283,064	SH		SOLE		283,064	0	0
LOMA NEGRA CORP	SPONSORED ADS	54150E104	1,784	160,235	SH		SOLE		160,235	0	0
MDC PARTNERS INC	CL A SUB VTG	552697104	16	6,170	SH		SOLE		6,170	0	0
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	650	50,000	SH		SOLE		50,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	124,960	500,000	SH		SOLE		500,000	0	0
WEATHERFORD INTL LTD	NOTE 5.875% 7/0	947075AH0	5,670	9,000,000	PRN		SOLE		9,000,000	0	0
WHITING PETE CORP NEW	NOTE 1.250% 4/0	966387AL6	232	245,000	PRN		SOLE		245,000	0	0
YPF SOCIEDAD ANONIMA	SPON ADR CL D	984245100	2,009	150,000	SH		SOLE		150,000	0	0