Marathon Capital Management
Marathon Capital Management reported 181 US-listed holdings worth $488.4 million in its 13F for the quarter ended 30 September 2026, filed 23 October 2026. Its largest: T. Rowe Price Group, Inc. (12.4%), SPDR Ser Trust (4.0%) and Zeta Global Holdings Corp. (3.1%). Against the quarter before, it opened 9 positions, added to 54, trimmed 71 and sold out of 15.
Reported holdings$488.4M-1.1% on Q2 2026
Positions181-6 on Q2 2026
The largest ten38.2%of its reported holdings
Latest 13FQ3 2026filed 23 October 2026
Added toHeldTrimmed
The 14 largest of its 181 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q2 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +18.6% over the 8 quarters to 30 September 2026, against +32.9% for the S&P 500.
Its reported holdingsThe S&P 500
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Opened 9Added 54Held 47Trimmed 71Sold out 15
Its positions against its 13F for the quarter to 30 June 2026; a change under 0.1% of a position counts as held
Opened 9
- Deckers Outdoor Corp. DECK$6.5 million
- ExxonMobil Holdings Corp. XOM$1.5 million
- Axt Inc. AXTI$882,087
- LightPath Technologies Inc LPTH$726,494
- Copart Inc. CPRT$351,885
- ONEOK Inc. OKE$221,873
- Arista Networks, Inc. ANET$218,045
- Ameriprise Financial Inc. AMP$215,157
and 1 more in the table below
Added to 54
- Zeta Global Holdings Corp. ZETA+236,475 shares · +99%
- iShares Trust SGOV+26,360 shares · +58%
- NVIDIA Corp. NVDA+2,496 shares · +22%
- Par Technology Corp. PAR+37,410 shares · +47%
- SPDR Ser Trust BIL+2,138 shares · +1%
- Calix, Inc. CALX+5,605 shares · +7%
- International Business Machines Corp. IBM+820 shares · +3%
- Aecom ACM+2,988 shares · +61%
and 46 more in the table below
Trimmed 71
- Adma Biologics, Inc. ADMA-171,045 shares · -32%
- Allstate Corp. ALL-2,346 shares · -62%
- Apple Inc. AAPL-1,398 shares · -3%
- Johnson & Johnson JNJ-1,115 shares · -4%
- Zoetis Inc. ZTS-4,164 shares · -5%
- Corning Inc. GLW-1,849 shares · -2%
- Fidelity National Information Services, Inc. FIS-7,748 shares · -5%
- Ceco Environmental Corp. Com CECO-3,615 shares · -4%
and 63 more in the table below
Sold out of 15
- ExxonMobil Holdings Corp. XOM$1.3 million last quarter
- Nuscale PWR Corp. SMR$516,545 last quarter
- Taylor Morrison Home Corp. TMHC$502,180 last quarter
- Clear Secure, Inc. YOU$445,840 last quarter
- HP Inc. HPQ$307,709 last quarter
- ONEOK Inc. OKE$226,044 last quarter
- W.W. Grainger, Inc. GWW$212,233 last quarter
- Invesco QQQ Trust QQQ$209,874 last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| T. Rowe Price Group, Inc. TROW | 580.0K | $60.3 million | 12.36% | -350 |
| SPDR Ser Trust BIL | 212.9K | $19.5 million | 4.00% | +2.1K |
| Zeta Global Holdings Corp. ZETA | 476.2K | $15.0 million | 3.08% | +236.5K |
| Amazon.com Inc. AMZN | 56.5K | $14.1 million | 2.88% | -128 |
| Corning Inc. GLW | 91.1K | $14.0 million | 2.87% | -1.8K |
| Alphabet Inc. GOOG | 41.0K | $14.0 million | 2.86% | -386 |
| Apple Inc. AAPL | 41.3K | $13.7 million | 2.81% | -1.4K |
| Zscaler Inc. ZS | 65.6K | $13.1 million | 2.68% | -595 |
| Microsoft Corp. MSFT | 23.6K | $12.1 million | 2.48% | -271 |
| AstraZeneca PLC AZN | 65.4K | $10.6 million | 2.16% | +583 |
| Vanguard ETF VYMI | 103.3K | $10.4 million | 2.14% | -1.4K |
| Metlife Inc. MET | 101.1K | $9.5 million | 1.95% | -1.3K |
| Chevron Corp. CVX | 41.4K | $8.5 million | 1.73% | -315 |
| Allison Transmission Holdings Inc. ALSN | 71.8K | $8.1 million | 1.66% | -498 |
| Diamondback Energy, Inc. FANG | 44.2K | $8.1 million | 1.66% | -16 |
| Waystar Holding Corp. WAY | 313.6K | $7.9 million | 1.63% | -1.7K |
| iShares Trust SGOV | 72.0K | $7.2 million | 1.48% | +26.4K |
| International Business Machines Corp. IBM | 32.0K | $7.0 million | 1.44% | +820 |
| Almonty Inds Inc. ALM | 523.7K | $6.9 million | 1.41% | +1.6K |
| JPMorgan Chase & Co. JPM | 20.8K | $6.9 million | 1.41% | -374 |
| Arcosa, Inc. ACA | 44.2K | $6.5 million | 1.32% | -940 |
| Deckers Outdoor Corp. DECK | 82.6K | $6.5 million | 1.32% | new |
| Ceco Environmental Corp. Com CECO | 91.8K | $6.4 million | 1.31% | -3.6K |
| Johnson & Johnson JNJ | 24.0K | $6.4 million | 1.30% | -1.1K |
| Realty Income Corp. O | 108.9K | $5.9 million | 1.21% | -2.6K |
| Danaher Corp. DHR | 26.0K | $5.8 million | 1.18% | -544 |
| Tetra Technologies Inc. Del TTI | 953.5K | $5.6 million | 1.15% | -8.7K |
| Zoetis Inc. ZTS | 79.4K | $5.5 million | 1.14% | -4.2K |
| Barrick Mining Corp B | 131.8K | $5.4 million | 1.10% | +1.3K |
| Fidelity National Information Services, Inc. FIS | 158.9K | $5.2 million | 1.07% | -7.7K |
| ANI Pharmaceuticals Inc. ANIP | 71.8K | $5.2 million | 1.07% | -180 |
| Qualcomm Inc. QCOM | 28.2K | $5.2 million | 1.06% | +112 |
| Sprott Physical Gold & Silve CEF | 120.0K | $5.0 million | 1.02% | -120 |
| Berkshire Hathaway Inc. Class B BRKB | 9.5K | $4.7 million | 0.96% | -17 |
| Willis Towers Watson plc WTW | 16.3K | $4.7 million | 0.96% | -110 |
| SPDR Gold Trust GLD | 11.0K | $4.2 million | 0.86% | +40 |
| Builders Firstsource Inc. BLDR | 72.2K | $4.1 million | 0.84% | -2.1K |
| Healthpeak Properties, Inc. DOC | 202.8K | $4.0 million | 0.83% | -5.9K |
| Chubb Ltd. CB | 12.0K | $3.9 million | 0.80% | -44 |
| Newpark Res Inc. NPKI | 341.3K | $3.9 million | 0.80% | -2.6K |
| Adma Biologics, Inc. ADMA | 361.3K | $3.6 million | 0.74% | -171.0K |
| Merck & Co., Inc. MRK | 22.7K | $3.3 million | 0.68% | -630 |
| NVIDIA Corp. NVDA | 13.9K | $3.2 million | 0.65% | +2.5K |
| Calix, Inc. CALX | 89.2K | $3.1 million | 0.63% | +5.6K |
| Copa Holdings SA CPA | 23.1K | $3.1 million | 0.62% | -335 |
| Symbotic Inc. SYM | 69.1K | $2.9 million | 0.60% | -695 |
| Novo Nordisk A/S NVO | 76.3K | $2.9 million | 0.59% | -1.9K |
| Eli Lilly & Co. LLY | 2.5K | $2.9 million | 0.59% | -1 |
| Alphatec Hldgs Inc. ATEC | 277.6K | $2.9 million | 0.59% | -1.6K |
| Alphabet Inc. GOOGL | 8.3K | $2.9 million | 0.58% | -37 |
| Micron Technology Inc. MU | 2.6K | $2.8 million | 0.57% | -61 |
| Advanced Micro Devices Inc. AMD | 4.1K | $2.5 million | 0.52% | +5 |
| Targa Resources Corp. TRGP | 8.9K | $2.4 million | 0.49% | no change |
| Procter & Gamble Co. PG | 15.7K | $2.3 million | 0.47% | -535 |
| SLB Limited SLB | 43.8K | $2.1 million | 0.44% | +984 |
| Enphase Energy, Inc. ENPH | 56.5K | $1.9 million | 0.38% | -600 |
| Maxlinear, Inc. MXL | 20.0K | $1.8 million | 0.37% | no change |
| AbbVie Inc. ABBV | 6.8K | $1.8 million | 0.36% | +4 |
| SPDR S&P 500 SPY | 2.3K | $1.8 million | 0.36% | -80 |
| Darling Ingredients Inc. DAR | 27.9K | $1.7 million | 0.35% | -365 |
| Par Technology Corp. PAR | 117.4K | $1.6 million | 0.33% | +37.4K |
| Vaneck ETF Trust GDX | 18.1K | $1.6 million | 0.33% | -88 |
| ExxonMobil Holdings Corp. XOM | 9.3K | $1.5 million | 0.31% | new |
| Coca-Cola Co. KO | 16.9K | $1.5 million | 0.30% | -4 |
| Verizon Communications Inc. VZ | 29.8K | $1.4 million | 0.28% | +157 |
| Weyerhaeuser Co. WY | 67.6K | $1.3 million | 0.26% | +2 |
| Lattice Semiconductor Corp. LSCC | 10.1K | $1.3 million | 0.26% | no change |
| Global Self Storage Inc. SELF | 243.6K | $1.2 million | 0.24% | -17.2K |
| Cincinnati Financial Corp. CINF | 7.5K | $1.2 million | 0.24% | no change |
| Kornit Digital Ltd KRNT | 71.0K | $1.2 million | 0.24% | no change |
| Cryoport Inc. CYRX | 67.2K | $1.2 million | 0.24% | no change |
| Wells Fargo Co. New | 1.0K | $1.1 million | 0.22% | no change |
| Amgen Inc. AMGN | 2.5K | $1.1 million | 0.22% | no change |
| EOG Resources Inc. EOG | 7.7K | $1.1 million | 0.22% | +306 |
| RTX Corp. RTX | 5.5K | $1.0 million | 0.21% | -3 |
| Antero Resources Corp. AR | 30.0K | $1.0 million | 0.21% | no change |
| Medtronic plc MDT | 11.5K | $995,269 | 0.20% | +177 |
| Royal Gold Inc. RGLD | 4.1K | $962,880 | 0.20% | no change |
| Lockheed Martin Corp. LMT | 1.9K | $961,973 | 0.20% | -450 |
| Brown Forman Corp. BFB | 35.6K | $931,944 | 0.19% | +1.2K |
| Eaton Corp. plc ETN | 2.1K | $917,861 | 0.19% | no change |
| GE HealthCare Technologies Inc. GEHC | 13.6K | $889,293 | 0.18% | -1.0K |
| Axt Inc. AXTI | 11.4K | $882,087 | 0.18% | new |
| Hudson Technologies Inc. HDSN | 168.3K | $866,874 | 0.18% | -5.0K |
| Ssga Active Trust MYCG | 32.1K | $799,714 | 0.16% | -79 |
| Enbridge Inc ENB | 16.9K | $784,984 | 0.16% | -25 |
| Accenture plc ACN | 4.1K | $759,335 | 0.16% | -69 |
| LightPath Technologies Inc LPTH | 70.5K | $726,494 | 0.15% | new |
| PepsiCo Inc. PEP | 5.6K | $704,943 | 0.14% | -185 |
| Txo Partners LP TXO | 50.0K | $683,500 | 0.14% | no change |
| Broadcom Inc. AVGO | 1.9K | $667,261 | 0.14% | +11 |
| Prologis, Inc. PLD | 5.1K | $662,184 | 0.14% | no change |
| Thermo Fisher Scientific Inc. TMO | 961 | $648,724 | 0.13% | +1 |
| Corpay, Inc. CPAY | 1.6K | $636,138 | 0.13% | +80 |
| CSX Corp. CSX | 13.5K | $627,466 | 0.13% | no change |
| Factset Research Systems Inc. FDS | 2.3K | $619,865 | 0.13% | +200 |
| General Electric Co. GE | 2.0K | $611,464 | 0.13% | +3 |
| Marathon Petroleum Corp. MPC | 1.5K | $609,342 | 0.12% | -159 |
| Elevance Health, Inc. ELV | 1.5K | $601,962 | 0.12% | +151 |
| Meta Platforms, Inc. META | 818 | $593,203 | 0.12% | +6 |
| Ares Capital Corp. ARCC | 31.0K | $591,691 | 0.12% | -2 |
| Lowe's Companies Inc. LOW | 3.2K | $586,987 | 0.12% | no change |
| Nabors Industries Ltd NBR | 7.5K | $585,900 | 0.12% | no change |
| Cisco Systems, Inc. CSCO | 5.4K | $585,833 | 0.12% | +270 |
| PNC Financial Services Group, Inc. PNC | 2.5K | $561,873 | 0.12% | -53 |
| Keysight Technologies, Inc. KEYS | 1.5K | $557,709 | 0.11% | +3 |
| Honeywell International Inc. HON | 2.6K | $554,994 | 0.11% | -16 |
| Visa Inc. V | 1.5K | $550,871 | 0.11% | +21 |
| Royalty Pharma PLC RPRX | 9.4K | $546,867 | 0.11% | +7 |
| Home Depot, Inc. HD | 1.9K | $527,444 | 0.11% | -25 |
| Expand Energy Corp. EXE | 6.2K | $520,013 | 0.11% | +593 |
| Toll Brothers, Inc. TOL | 3.8K | $518,394 | 0.11% | +161 |
| Bristol-Myers Squibb Co. BMY | 8.1K | $507,267 | 0.10% | -196 |
| Corebridge Financial, Inc. CRBG | 15.3K | $507,162 | 0.10% | +601 |
| Southern Co. SO | 6.0K | $501,485 | 0.10% | -215 |
| McDonald's Corp. MCD | 2.2K | $496,987 | 0.10% | +2 |
| Ulta Beauty, Inc. ULTA | 891 | $486,637 | 0.10% | +93 |
| Ssga Active Trust MYCF | 18.8K | $470,770 | 0.10% | -8 |
| Duke Energy Corp. DUK | 4.1K | $468,793 | 0.10% | +2 |
| Aecom ACM | 7.9K | $465,980 | 0.10% | +3.0K |
| Devon Energy Corp. DVN | 10.1K | $465,418 | 0.10% | +2.8K |
| Abbott Laboratories ABT | 4.7K | $465,056 | 0.10% | +1 |
| Bank America Corp. | 375 | $457,860 | 0.09% | -10 |
| Starbucks Corp. SBUX | 4.8K | $454,766 | 0.09% | no change |
| iShares Inc. EWZ | 12.0K | $445,167 | 0.09% | -885 |
| Getty Realty Corp. GTY | 15.7K | $442,501 | 0.09% | -655 |
| Old Dominion Freight Line, Inc. ODFL | 2.5K | $433,832 | 0.09% | +935 |
| Bxp, Inc. BXP | 7.1K | $432,964 | 0.09% | -135 |
| Zoom Video Communications in ZM | 4.5K | $410,099 | 0.08% | +440 |
| Honeywell Aerospace Inc. Com HONA | 2.6K | $407,726 | 0.08% | -13 |
| Global X FDS COPX | 4.7K | $398,852 | 0.08% | -10 |
| Stryker Corp. SYK | 1.4K | $391,607 | 0.08% | +149 |
| Palo Alto Networks Inc. PANW | 978 | $388,569 | 0.08% | +2 |
| Newmont Corp. NEM | 3.3K | $383,506 | 0.08% | -17 |
| iShares Silver Trust SLV | 6.9K | $376,773 | 0.08% | +35 |
| Invesco Exchange Traded FD T RSP | 1.8K | $371,469 | 0.08% | +730 |
| Pfizer Inc. PFE | 12.6K | $358,838 | 0.07% | -3.4K |
| Copart Inc. CPRT | 12.9K | $351,885 | 0.07% | new |
| Invesco Exchange Traded FD T XMHQ | 3.1K | $346,562 | 0.07% | +973 |
| Texas Instruments Inc. TXN | 1.2K | $333,027 | 0.07% | +4 |
| Ea Series Trust SMRI | 7.3K | $326,907 | 0.07% | -1.3K |
| Automatic Data Processing Inc. ADP | 1.3K | $324,381 | 0.07% | +3 |
| Emerson Electric Co. EMR | 2.1K | $320,592 | 0.07% | no change |
| Allstate Corp. ALL | 1.4K | $317,125 | 0.06% | -2.3K |
| Davis Fundamental ETF Trust DUSA | 5.7K | $313,863 | 0.06% | -156 |
| CNX Resources Corp. CNX | 10.0K | $311,700 | 0.06% | no change |
| GE Vernova Inc. GEV | 327 | $310,810 | 0.06% | -3 |
| FNB Corp. FNB | 18.0K | $309,780 | 0.06% | no change |
| Netflix Inc. NFLX | 4.3K | $300,238 | 0.06% | +214 |
| iShares Trust IBB | 1.4K | $289,479 | 0.06% | no change |
| RBB FD Inc. TMFC | 3.5K | $277,137 | 0.06% | no change |
| Tesla, Inc. TSLA | 774 | $274,623 | 0.06% | +7 |
| Applied Materials Inc. AMAT | 523 | $267,452 | 0.05% | no change |
| Walt Disney Co. DIS | 2.5K | $260,467 | 0.05% | -145 |
| Vanguard Specialized Funds VIG | 1.1K | $249,408 | 0.05% | -75 |
| ASML Holding N.V. ASML | 137 | $248,199 | 0.05% | no change |
| AT&T Inc. T | 9.8K | $239,750 | 0.05% | +19 |
| Global X FDS URA | 6.0K | $239,698 | 0.05% | -75 |
| Magnolia Oil & Gas Corp. MGY | 10.0K | $234,900 | 0.05% | no change |
| 3M Co. MMM | 1.4K | $230,795 | 0.05% | no change |
| Capital One Financial Corp. COF | 1.2K | $230,333 | 0.05% | +4 |
| First Citizens BancShares Inc FCNCA | 110 | $226,622 | 0.05% | -15 |
| Cigna Group CI | 822 | $223,444 | 0.05% | no change |
| ONEOK Inc. OKE | 2.6K | $221,873 | 0.05% | new |
| Principal Exchange Traded FD PSC | 3.3K | $218,607 | 0.04% | +57 |
| Arista Networks, Inc. ANET | 1.1K | $218,045 | 0.04% | new |
| NextEra Energy Inc. NEE | 2.9K | $216,545 | 0.04% | no change |
| Ameriprise Financial Inc. AMP | 437 | $215,157 | 0.04% | new |
| Wisdomtree Trust EMMF | 5.7K | $213,630 | 0.04% | -187 |
| Taiwan Semiconductor Manufacturing Company Limited TSM | 462 | $210,760 | 0.04% | no change |
| iShares Trust IBDT | 8.4K | $209,664 | 0.04% | new |
| Ondas Hldgs Inc. ONDS | 12.4K | $90,709 | 0.02% | +500 |
| Marchex Inc. MCHX | 64.0K | $82,560 | 0.02% | no change |
| Similarweb Ltd SMWB | 10.0K | $77,600 | 0.02% | no change |
| Dyadic Intl Inc. Del DYAI | 157.6K | $70,070 | 0.01% | +47.6K |
| Comstock Inc. LODE | 30.0K | $69,600 | 0.01% | +5.0K |
| Kopin Corp. KOPN | 12.5K | $57,500 | 0.01% | +2.5K |
| Airgain Inc. AIRG | 11.0K | $54,560 | 0.01% | no change |
| Atomera Inc. ATOM | 10.0K | $43,600 | 0.01% | no change |
| Kaltura Inc. KLTR | 17.5K | $22,400 | 0.00% | +2.5K |
| Aziyo Biologic ELUT | 17.5K | $13,825 | 0.00% | +7.5K |
Every US-listed position in the fund's 13F for the quarter ended 30 September 2026, by the value it reported.
Read more
Change is shares against its 13F for the quarter before; the 15 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| LightPath Technologies Inc LPTH | Calls | 2.5K | $5,688 |
1 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.