SEC 13F Intelligence

Managers / Q3 2021 · view latest →

MARATHON CAPITAL MANAGEMENT

CIK 0001213206 · 4 NORTH PARK DRIVE, SUITE 106, HUNT VALLEY, MD, 21030-1806 · 410-329-1522

Reported Value
$441M
Q3 2021
Positions
224
Filings on Record
32
2019–present window
Filed
Nov 15, 2021
original filing

Summary

Marathon Capital Management reported $441M in U.S.-listed holdings across 224 positions for Q3 2021.

The portfolio is heavily concentrated: TROW alone accounts for 39.0% of reported value.

Compared with Q2 2021, the fund opened 38 new positions and exited 12.

Portfolio Metrics

Turnover
+7.5%
vs prior filed quarter
Top-10 Concentration
+52.4%
share of reported value
Largest Position
+39.0%
T Rowe Price
New / Exited
38 / 12
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $201MQ4 ’18Q1 ’19: $224MQ2 ’19: $245MQ3 ’19: $248MQ4 ’19: $294MQ4 ’19Q1 ’20: $218MQ2 ’20: $260MQ3 ’20: $275MQ4 ’20: $339MQ4 ’20Q1 ’21: $379MQ2 ’21: $432MQ3 ’21: $441MQ4 ’21: $427MQ4 ’21Q1 ’22: $348MQ2 ’22: $310MQ3 ’22: $350MQ4 ’22: $363MQ4 ’22Q1 ’23: $406MQ2 ’23: $405MQ3 ’23: $397MQ4 ’23: $398MQ4 ’23Q1 ’24: $419MQ2 ’24: $392MQ3 ’24: $412MQ4 ’24: $400MQ4 ’24Q1 ’25: $375MQ2 ’25: $393MQ3 ’25: $437MQ4 ’25: $465MQ4 ’25Q1 ’26: $445Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 91.2%Other: 5.6%ADR: 1.6%REIT: 1.2%ETP: 0.5%Tracking Stk: 0.1%
  • Common Stock · 91.2% · $402M
  • Other · 5.6% · $25M
  • ADR · 1.6% · $7M
  • REIT · 1.2% · $5M
  • ETP · 0.5% · $2M
  • Tracking Stk · 0.1% · $284,000

Quarter-over-Quarter Changes full breakdown →

vs Q2 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
INVNIdentive IncNEW+273.8K273.8K+$5M$5M
BSFAAni PharmaceuticalsNEW+74.2K74.2K+$2M$2M
METAFacebook Inc Class ANEW+4.5K4.5K+$2M$2M
Willis Towers WatsonNEW+3.7K3.7K+$859,000$859,000
INTUIntuit IncNEW+1.5K1.5K+$823,000$823,000
EVLVEvolv Technologies HldgsNEW+129.2K129.2K+$776,000$776,000
ZSZscaler IncNEW+2.2K2.2K+$580,000$580,000
TTDThe Trade Desk IncNEW+6.9K6.9K+$486,000$486,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2021

223 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TROWT Rowe Price Group Inchistory →COM39.02%$172M873.8K
2ENPHEnphase Energy Inchistory →COM1.99%$9M58.5K
3AAPLApple Computer Inchistory →COM1.83%$8M56.8K
4MSFTMicrosoft Corphistory →COM1.57%$7M24.5K
5METMetlife Inchistory →COM1.49%$7M106.4K
6IBMIntl Business Machineshistory →COM1.44%$6M45.8K
7Avid Technology IncCOM1.41%$6M215.0K
8BMYBristol-Myers Squibb Cohistory →COM1.24%$5M92.0K
9GLWCorning Inchistory →COM1.22%$5M146.9K
10TTITetra Technologieshistory →COM1.20%$5M1.70M
11INVNIdentive Inchistory →COM NEW1.17%$5M273.8K
12DFSEURDiscover Financial Svcshistory →COM1.11%$5M39.7K
13QCOMQualcomm Inchistory →COM1.06%$5M36.1K
14Kornit Digital Ltd.SHS1.05%$5M31.8K
15QTRXQuanterix Corphistory →COM1.04%$5M92.1K
16CVSC V S Corp Delhistory →COM1.02%$4M52.9K
17JNJJohnson & JohnsonCOM1.00%$4M27.3K
18GOOGAlphabet Inc. Class CCAP STK CL C · CAP STK CL A0.97%$4M1.6K
19ABJAABB LimitedSPONSORED ADR0.94%$4M123.8K
20Glaxosmithkline Plc AdrfSPONSORED ADR0.92%$4M105.9K
21AAWWUSDAtlas Air Worldwide HldgCOM NEW0.90%$4M48.6K
22ALSNAllison TransmissionCOM0.90%$4M111.7K
23MRKMerck & Co IncCOM0.84%$4M49.5K
24FT2First Horizon CorpCOM0.84%$4M226.8K
25SPARUSDShyft Group IncCOM0.82%$4M94.6K
26GX6T P I Composites IncCOM0.80%$4M104.5K
27ARCCAres Capital CorpCOM0.77%$3M166.7K
28AMZNAmazon Com IncCOM0.76%$3M1.0K
29ABBVAbbvie IncCOM0.73%$3M29.9K
30BRK/BBerkshire Hathaway Cl BCL B NEW0.71%$3M11.4K
31USBU.S. BancorpCOM NEW0.67%$3M49.7K
32MDC1USDM D C Holding IncCOM0.67%$3M63.0K
33GRWGGrowgeneration CorpCOM0.62%$3M110.7K
34LPROOpen Lending CorpCOM CL A0.61%$3M74.8K
35CHVChevrontexaco CorpCOM0.60%$3M26.0K
36CNDTConduent Inc ComCOM0.56%$2M373.5K
37TPCTutor Perini CorpCOM0.56%$2M189.6K
38BSFAAni PharmaceuticalsCOM0.55%$2M74.2K
39PSXPhillipsCOM0.53%$2M33.3K
40SCOR1EURComscore IncCOM0.52%$2M590.4K
41ACAArcosa IncCOM0.52%$2M45.8K
42CYRXCryoport IncCOM PAR $0.0010.52%$2M34.4K
43PGNYProgyny IncCOM0.52%$2M40.5K
44WYWeyerhaeuser CoCOM NEW0.49%$2M61.0K
45Agrify CorpCOM0.48%$2M115.1K
46BLBDBlue Bird CorpCOM0.47%$2M99.5K
47MPCMarathon Pete CorpCOM0.45%$2M32.2K
48HONGBPHoneywell InternationalCOM0.42%$2M8.7K
49TRGPTarga Resources CorpCOM0.41%$2M36.5K
50PGProcter & Gamble CoCOM0.40%$2M12.6K
51Euronav NvSHS0.38%$2M173.2K
52DOCUSDPhysicians Realty TrCOM0.36%$2M89.4K
53METAFacebook Inc Class ACL A0.34%$2M4.5K
54PLABPhotronics IncCOM0.31%$1M100.0K
55ZYMEUSDZymeworks IncCOM0.31%$1M46.5K
56QTM1EURQuantum Cp Dlt & StoCOM NEW0.31%$1M259.7K
57ILMNIllumina IncCOM0.29%$1M3.1K
58NOKNokia Corp Spon AdrSPONSORED ADR0.27%$1M216.0K
59PYPLPaypal Holdings IncoCOM0.26%$1M4.4K
60HDSNHudson Technologies IncCOM0.26%$1M321.0K
61Aegon Nv Ord Reg AmerNY REGISTRY SHS0.26%$1M221.0K
62CECOCeco EnvironmentalCOM0.25%$1M158.2K
63NVDANvidia CorpCOM0.24%$1M5.0K
64DHRDanaher Corp DelCOM0.23%$1M3.3K
65PEPPepsico IncorporatedCOM0.22%$978,0006.5K
66LSCCLattice Semiconductor CpCOM0.22%$967,00014.9K
67EXMOCExxon Mobil CorporationCOM0.22%$966,00016.4K
68CTVACorteva IncCOM0.21%$928,00022.0K
69VVisa Inc.COM CL A0.20%$871,0003.9K
70SBUXStarbucks CorpCOM0.20%$866,0007.8K
71Willis Towers WatsonSHS0.20%$859,0003.7K
72LLYLilly Eli & CompanyCOM0.19%$853,0003.7K
73KOCoca Cola CompanyCOM0.19%$833,00015.9K
74INTUIntuit IncCOM0.19%$823,0001.5K
75BACVerizon CommunicationsCOM0.18%$810,00015.0K
76PNCPnc Finl Services Gp IncCOM0.18%$806,0004.1K
77LOWLowes Companies IncCOM0.18%$803,0004.0K
78RJR1Stereotaxis IncCOM NEW0.18%$798,000148.3K
79AMDAdvanced Micro DevicesCOM0.18%$793,0007.7K
80Signet Jewelers LtdSHS0.18%$790,00010.0K
81JPMJ P Morgan Chase & CoCOM0.18%$786,0004.8K
82CINFCincinnati FinlCOM0.18%$785,0006.9K
83EVLVEvolv Technologies HldgsCOM CL A0.18%$776,000129.2K
84ARAntero Resources CorCOM0.17%$753,00040.0K
85CVA1EURCovanta Holding CorpCOM0.16%$723,00035.9K
86BMOBank Montreal QuebecCOM0.16%$717,0007.2K
87TMOThermo Electron CorpCOM0.16%$715,0001.3K
88Ishares Tr Nasdaq BiotechISHARES BIOTECH0.16%$698,0004.3K
89PLDPrologis IncCOM0.16%$695,0005.5K
90S76Store Capital CorpCOM0.16%$685,00021.4K
91PFEPfizer IncorporatedCOM0.16%$684,00015.9K
92MAXRUSDMaxar Technologies IncCOM0.15%$680,00024.0K
93CSXC S X CorpCOM0.15%$667,00022.4K
94ABTAbbott LaboratoriesCOM0.15%$666,0005.6K
95COPConocophillipsCOM0.15%$650,0009.6K
96SLBSchlumberger LtdCOM STK0.14%$605,00020.4K
97BNYBank Of New York Co IncCOM0.14%$602,00011.6K
98ALSAllstate CorporationCOM0.14%$596,0004.7K
99ZSZscaler IncCOM0.13%$580,0002.2K
100HDHome Depot IncCOM0.13%$577,0001.8K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$445M171May 14, 202613F-HRchanges · EDGAR ↗
Q4 2025$465M171Jan 29, 202613F-HRchanges · EDGAR ↗
Q3 2025$437M163Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$393M166Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$375M158May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$400M155Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$412M154Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$392M145Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$419M154May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$398M153Feb 14, 2024RESTATEMENTchanges · EDGAR ↗
Q3 2023$397M158Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$405M156Aug 15, 2023RESTATEMENTchanges · EDGAR ↗
Q1 2023$406M164May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$363M145Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$350M153Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$310M146Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$348M93May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$427M166Feb 9, 202213F-HRchanges · EDGAR ↗
Q3 2021$441M224Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$432M199Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$379M189May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$339M158Feb 8, 202113F-HRchanges · EDGAR ↗
Q3 2020$275M147Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$260M140Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$218M122May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$294M142Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$248M113Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$245M112Jul 25, 201913F-HRchanges · EDGAR ↗
Q1 2019$224M110May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$201M110Feb 7, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.