MARATHON CAPITAL MANAGEMENT

Q3 2025 13F-HR Holdings

Location
Hunt Valley, MD
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
163
Total value ($000)
$436,993
Net value change ($000)
+44,360 (11.3%)
New positions
14
Sold out positions
16
Turnover %
3.7%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/14/2025 Next filing: 1/29/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
BIL 7,756 222.2%
GLW 4,874 44.2%
ADBE 4,394 NEW
NVO 3,189 NEW
GOOGL 2,880 36.3%
TTI 2,806 62.2%
CECO 2,265 77.0%
AAPL 2,109 19.3%
TROW 1,934 2.8%
PAR 1,705 175.8%
Top Reduces (Value $000, Stocks/ETFs)
SYM -1,995 -48.4%
PFE -1,978 -82.0%
FIS -1,401 -19.0%
ALSN -789 -11.0%
SRPT -711 -100.0%
KRNT -618 -33.4%
BXP -472 -100.0%
DAR -454 -21.1%
IBM -450 -4.8%
TXO -385 -73.2%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type