MARATHON CAPITAL MANAGEMENT

Registered adviser

CIK

1213206

Location

Hunt Valley, MD

Portfolio Value

Small $466,323,131

Diversification

Diversified

Filing Date

Global Rank

#3,879 / 8,818 ▼ 81 · as of Jun 2026

Top Industry

Asset Management 15.3%

Period ended 29 days ago

Filed Oct 23, 2026 · 6d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Oct 1, 2026

Form ADV adviser

CRD 119416

Roster of Oct 1, 2026

Regulatory AUM

$790,136,072

Main clients

Individuals and high net worth (65% of AUM)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Mar 2026 to Oct 2026	$790,136,072	Individuals and high net worth (65%)
Mar 2025 to Feb 2026	$694,279,362	Individuals and high net worth (100%)
Apr 2024 to Feb 2025	$677,081,355	Individuals and high net worth (100%)
May 2023 to Mar 2024	$621,557,037	Individuals and high net worth (100%)
Mar 2023 to Apr 2023	$621,557,037	Individuals and high net worth (100%)
Apr 2022 to Feb 2023	$699,531,308	Individuals and high net worth (100%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Diversified active

Top 10 weight 39.7%, 31.1 effective positions, active share 73.8% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

24.2% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 16.9 quarters (12+), a floor since 39.3% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 73.8%; sector active share 21.0% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

179 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

12.9%

−0.5 pts

Top 5

25.8%

−2.7 pts

Top 10

38.6%

−1.0 pts

HHI

302

Diversified−20

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Technology	23.8%	$111,129,011	37
Financial Services	21.5%	$100,359,379	18
Healthcare	14.0%	$65,496,902	25
Industrials	7.8%	$36,388,842	21
Energy	7.4%	$34,712,835	17
Consumer Cyclical	6.9%	$32,013,013	10
Unclassified	6.4%	$29,788,691	22
Communication Services	4.2%	$19,660,700	8
Basic Materials	3.1%	$14,533,656	6
Real Estate	3.0%	$13,984,151	7
Consumer Defensive	1.5%	$7,069,118	5
Utilities	0.3%	$1,186,833	3

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
ZETA	Zeta Global Holdings Corp.	+236,475	476,240	$15,034,896
DYAI	Dyadic International Inc	+47,602	157,602	$70,069
PAR	Par Technology Corp	+37,410	117,435	$1,615,905
SGOV	iShares 0-3 Month Treasury Bond ETF	+26,360	71,975	$7,246,443
ELUT	Elutia Inc.	+7,500	17,500	$13,825
CALX	Calix, Inc	+5,605	89,160	$3,063,537
LODE	Comstock Inc.	+5,000	30,000	$69,600
ACM	Aecom	+2,988	7,905	$465,999
DVN	Devon Energy Corp	+2,769	10,109	$465,418
KOPN	Kopin Corp	+2,500	12,500	$57,500
KLTR	Kaltura Inc	+2,500	17,500	$22,400
NVDA	Nvidia Corp	+2,496	13,911	$3,176,994
—		+2,138	212,907	$0
ALM	Almonty Industries Inc.	+1,550	523,705	$6,891,957
B	Barrick Mining Corp	+1,330	131,764	$5,358,841
BF-B	Brown Forman Corp	+1,241	35,570	$931,934
SLB	Slb Limited	+984	43,789	$2,133,400
XMHQ	Victory Portfolios II	+973	3,104	$0
ODFL	Old Dominion Freight Line, Inc.	+935	2,496	$433,904
IBM	International Business Machines Corp	+820	31,968	$7,030,722
RSP	Victory Portfolios II	+730	1,786	$0
CRBG	Corebridge Financial, Inc.	+601	15,313	$507,166
EXE	EXPAND ENERGY Corp	+593	6,184	$520,012
AZN	Astrazeneca PLC	+583	65,360	$10,553,679
ONDS	Ondas Inc.	+500	12,375	$90,708
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
ADMA	Adma Biologics, Inc.	−171,045	361,308	$3,623,919
SELF	Global Self Storage, Inc.	−17,216	243,568	$1,195,918
TTI	Tetra Technologies Inc	−8,674	953,497	$5,597,027
FIS	Fidelity National Information Services, Inc.	−7,748	158,874	$5,226,954
DOC	Healthpeak Properties, Inc.	−5,909	202,779	$4,049,496
HDSN	Hudson Technologies Inc	−5,000	168,325	$866,873
ZTS	Zoetis Inc.	−4,164	79,407	$5,544,990
CECO	Ceco Environmental Corp	−3,615	91,815	$6,393,996
PFE	Pfizer Inc	−3,416	12,582	$358,838
O	Realty Income Corp	−2,621	108,910	$5,913,813
NPKI	NPK International Inc.	−2,585	341,345	$3,898,159
ALL	Allstate Corp	−2,346	1,429	$317,037
BLDR	Builders FirstSource, Inc.	−2,126	72,152	$4,113,385
NVO	Novo Nordisk A S	−1,850	76,284	$2,891,926
GLW	Corning Inc	−1,849	91,112	$14,009,381
WAY	Waystar Holding Corp.	−1,660	313,605	$7,946,750
ATEC	Alphatec Holdings, Inc.	−1,645	277,625	$2,865,090
VYMI	VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND	−1,439	103,313	$10,448,043
AAPL	Apple Inc.	−1,398	41,257	$13,739,406
SMRI	Bushido Capital US Equity ETF	−1,325	7,315	$326,907
MET	Metlife Inc	−1,294	101,104	$9,519,952
JNJ	Johnson & Johnson	−1,115	24,006	$6,355,348
GEHC	GE HealthCare Technologies Inc.	−1,000	13,604	$889,293
ACA	Arcosa, Inc.	−940	44,226	$6,463,629
EWZ	iShares MSCI Brazil ETF	−885	11,951	$445,174
No positions match the current search.

New Positions

Positions the filer opened this quarter

7 positions

Ticker	Company	Shares	Value
DECK	Deckers Outdoor Corp	82,585	$6,453,191
AXTI	Axt Inc	11,395	$882,086
LPTH	Lightpath Technologies Inc	70,465	$726,494
CPRT	Copart Inc	12,899	$351,884
ANET	Arista Networks, Inc.	1,071	$218,044
AMP	Ameriprise Financial Inc	437	$215,156
IBDT	iShares iBonds Dec 2028 Term Corporate ETF	8,400	$209,664
No positions match the current search.

Sold Out

Positions the filer fully exited

13 positions

Ticker	Company	Shares	Value
SMR	NUSCALE POWER Corp	51,500	$516,545
—		7,000	$502,180
YOU	Clear Secure, Inc.	8,000	$445,840
HPQ	Hp Inc	14,025	$307,708
GWW	W.W. Grainger, Inc.	156	$212,222
QQQ	Invesco Qqq Trust, Series 1	285	$209,874
NOC	Northrop Grumman Corp	407	$207,289
WM	Waste Management Inc	910	$202,820
RXRX	Recursion Pharmaceuticals, Inc.	21,695	$79,620
BTBT	Bit Digital, Inc	15,000	$27,000
CNDT	CONDUENT Inc	12,500	$18,250
MDCX	Medicus Pharma Ltd.	15,500	$6,913
CTSO	Cytosorbents Corp	10,000	$3,740
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

179 tracked positions · $466,323,131 total · filing declares 182 positions · $488,373,812 · as of Sep 30, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 179 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TROW	Price T Rowe Group Inc Financial Services	Reduced	579,975	-350	$60,346,398	−8.5%	12.94%
ZETA	Zeta Global Holdings Corp. Technology	Added	476,240	+236,475	$15,034,896	+218.6%	3.22%
AMZN	Amazon Com Inc Consumer Cyclical	Reduced	56,525	-128	$14,083,203	+4.3%	3.02%
GLW	Corning Inc Technology	Reduced	91,112	-1,849	$14,009,381	−41.0%	3.00%
GOOG	Alphabet Inc. Communication Services	Reduced	40,971	-386	$13,960,458	−4.5%	2.99%
AAPL	Apple Inc. Technology	Reduced	41,257	-1,398	$13,739,406	+11.3%	2.95%
ZS	Zscaler, Inc. Technology	Reduced	65,577	-595	$13,077,365	+40.0%	2.80%
MSFT	Microsoft Corp Technology	Reduced	23,606	-271	$12,107,517	+35.9%	2.60%
AZN	Astrazeneca PLC Healthcare	Added	65,360	+583	$10,553,679	−14.1%	2.26%
VYMI	VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND	Reduced	103,313	-1,439	$10,448,043	+1.6%	2.24%
MET	Metlife Inc Financial Services	Reduced	101,104	-1,294	$9,519,952	+9.9%	2.04%
CVX	Chevron Corp Energy	Reduced	41,444	-315	$8,463,279	+22.3%	1.81%
ALSN	Allison Transmission Holdings Inc Consumer Cyclical	Reduced	71,789	-498	$8,130,822	−0.2%	1.74%
FANG	Diamondback Energy, Inc. Energy	Reduced	44,156	-16	$8,116,314	+4.5%	1.74%
WAY	Waystar Holding Corp. Healthcare	Reduced	313,605	-1,660	$7,946,750	+22.8%	1.70%
SGOV	iShares 0-3 Month Treasury Bond ETF	Added	71,975	+26,360	$7,246,443	+57.8%	1.55%
IBM	International Business Machines Corp Technology	Added	31,968	+820	$7,030,722	−19.7%	1.51%
ALM	Almonty Industries Inc. Basic Materials	Added	523,705	+1,550	$6,891,957	−20.3%	1.48%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	20,792	-374	$6,878,617	−0.7%	1.48%
ACA	Arcosa, Inc. Industrials	Reduced	44,226	-940	$6,463,629	−1.5%	1.39%
DECK	Deckers Outdoor Corp Consumer Cyclical	NEW	82,585	NEW	$6,453,191	NEW	1.38%
CECO	Ceco Environmental Corp Industrials	Reduced	91,815	-3,615	$6,393,996	−26.2%	1.37%
JNJ	Johnson & Johnson Healthcare	Reduced	24,006	-1,115	$6,355,348	−0.4%	1.36%
O	Realty Income Corp Real Estate	Reduced	108,910	-2,621	$5,913,813	−14.4%	1.27%
DHR	Danaher Corp Healthcare	Reduced	25,966	-544	$5,752,767	+13.9%	1.23%
TTI	Tetra Technologies Inc Energy	Reduced	953,497	-8,674	$5,597,027	−48.7%	1.20%
ZTS	Zoetis Inc. Healthcare	Reduced	79,407	-4,164	$5,544,990	−7.7%	1.19%
B	Barrick Mining Corp Basic Materials	Added	131,764	+1,330	$5,358,841	+11.9%	1.15%
FIS	Fidelity National Information Services, Inc. Technology	Reduced	158,874	-7,748	$5,226,954	−19.3%	1.12%
ANIP	Ani Pharmaceuticals Inc Healthcare	Reduced	71,810	-180	$5,216,996	−12.5%	1.12%
QCOM	Qualcomm Inc Technology	Added	28,187	+112	$5,187,535	−0.0%	1.11%
CEF	Sprott Physical Gold & Silver Trust Financial Services	Reduced	119,955	-120	$4,982,930	+3.2%	1.07%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	9,456	-17	$4,708,615	−0.7%	1.01%
WTW	Willis Towers Watson PLC Financial Services	Reduced	16,305	-110	$4,699,590	+9.5%	1.01%
GLD	Spdr Gold Trust	Added	10,994	+40	$4,186,954	+3.8%	0.90%
BLDR	Builders FirstSource, Inc. Industrials	Reduced	72,152	-2,126	$4,113,385	−38.1%	0.88%
DOC	Healthpeak Properties, Inc. Real Estate	Reduced	202,779	-5,909	$4,049,496	−9.3%	0.87%
CB	Chubb Ltd Financial Services	Reduced	11,991	-44	$3,900,072	−4.9%	0.84%
NPKI	NPK International Inc. Industrials	Reduced	341,345	-2,585	$3,898,159	−28.8%	0.84%
ADMA	Adma Biologics, Inc. Healthcare	Reduced	361,308	-171,045	$3,623,919	−18.7%	0.78%
MRK	Merck & Co., Inc. Healthcare	Reduced	22,721	-630	$3,301,588	+10.0%	0.71%
NVDA	Nvidia Corp Technology	Added	13,911	+2,496	$3,176,994	+39.1%	0.68%
CALX	Calix, Inc Technology	Added	89,160	+5,605	$3,063,537	−1.8%	0.66%
CPA	Copa Holdings, S.A. Industrials	Reduced	23,148	-335	$3,052,063	−16.5%	0.65%
SYM	Symbotic Inc. Industrials	Reduced	69,085	-695	$2,906,405	−7.3%	0.62%
NVO	Novo Nordisk A S Healthcare	Reduced	76,284	-1,850	$2,891,926	−22.8%	0.62%
LLY	ELI LILLY & Co Healthcare	Reduced	2,491	-1	$2,882,286	−3.6%	0.62%
ATEC	Alphatec Holdings, Inc. Healthcare	Reduced	277,625	-1,645	$2,865,090	+18.6%	0.61%
GOOGL	Alphabet Inc. Communication Services	Reduced	8,300	-37	$2,855,864	−4.1%	0.61%
MU	Micron Technology Inc Technology	Reduced	2,634	-61	$2,805,499	−9.8%	0.60%

Showing the top 50 of 179 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.