SEC 13F Intelligence

Managers / Q1 2024 · view latest →

MARATHON CAPITAL MANAGEMENT

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

Reported Value
$419M
Q1 2024
Positions
154
Filings on Record
32
2019–present window
Filed
May 15, 2024
original filing

Summary

Marathon Capital Management reported $419M in U.S.-listed holdings across 154 positions for Q1 2024.

The portfolio is heavily concentrated: TROW alone accounts for 25.1% of reported value.

Compared with Q4 2023, the fund opened 13 new positions and exited 12.

Portfolio Metrics

Turnover
+8.3%
vs prior filed quarter
Top-10 Concentration
+45.9%
share of reported value
Largest Position
+25.1%
Price T Rowe
New / Exited
13 / 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. 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: 86.9%Other: 5.7%ADR: 2.7%REIT: 1.8%ETP: 1.1%Other: 1.8%
  • Common Stock · 86.9% · $364M
  • Other · 5.7% · $24M
  • ADR · 2.7% · $11M
  • REIT · 1.8% · $7M
  • ETP · 1.1% · $5M
  • Other · 1.8% · $8M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NPKINEWPARK RES INCNEW+263.1K263.1K+$2M$2M
SYMSYMBOTIC INCNEW+38.9K38.9K+$2M$2M
WESTWESTROCK COFFEE CONEW+59.8K59.8K+$617,992$617,992
YOUCLEAR SECURE INCNEW+21.5K21.5K+$457,305$457,305
WWWWOLVERINE WORLD WIDE INCNEW+37.4K37.4K+$418,694$418,694
GENERAL ELECTRIC COMPANYNEW+1.4K1.4K+$238,194$238,194
BPBP PLCNEW+6.0K6.0K+$225,364$225,364
AXPAMERICAN EXPRESS CONEW+945945+$215,167$215,167

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

Holdings — Q1 2024

50 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TROWPRICE T ROWE GROUP INChistory →COM25.10%$105M862.9K
2AZNNASTRAZENECA PLChistory →SPONSORED ADR2.62%$11M162.1K
3MSFTMICROSOFT CORPhistory →COM2.46%$10M24.5K
4AAPLAPPLE INChistory →COM2.41%$10M58.9K
5QCOMQUALCOMM INChistory →COM2.41%$10M59.7K
6CHVCHEVRON CORP NEWhistory →COM2.37%$10M63.0K
7ALSNALLISON TRANSMISSION HLDGS Ihistory →COM2.32%$10M119.7K
8HLMNHILLMAN SOLUTIONS CORPhistory →COM2.07%$9M814.8K
9ENPHENPHASE ENERGY INChistory →COM2.06%$9M71.5K
10METMETLIFE INChistory →COM2.06%$9M116.6K
11FANGDIAMONDBACK ENERGY INChistory →COM2.00%$8M42.3K
12IBMINTERNATIONAL BUSINESS MACHShistory →COM1.91%$8M41.8K
13GLWCORNING INChistory →COM1.87%$8M238.3K
14FISFIDELITY NATL INFORMATION SVhistory →COM1.67%$7M94.3K
15HDSNHUDSON TECHNOLOGIES INChistory →COM1.58%$7M600.1K
16COPA HOLDINGS SACL A1.55%$6M62.2K
17BMYBRISTOL-MYERS SQUIBB COhistory →COM1.49%$6M114.9K
18TTITETRA TECHNOLOGIES INC DELhistory →COM1.40%$6M1.32M
19INVNIDENTIV INChistory →COM NEW1.36%$6M718.0K
20DALDELTA AIR LINES INC DELhistory →COM NEW1.32%$6M115.7K
21WILLIS TOWERS WATSON PLC LTDSHS1.32%$6M20.1K
22BRK/BBERKSHIRE HATHAWAY INC DELhistory →CL B NEW1.26%$5M12.6K
23MRO*MARATHON OIL CORPhistory →COM1.20%$5M177.7K
24TRANSOCEAN LTDREGISTERED SHS1.18%$5M786.4K
25BSFAANI PHARMACEUTICALS INChistory →COM1.17%$5M71.2K
26JNJJOHNSON & JOHNSONhistory →COM1.08%$5M28.7K
27MRKMERCK & CO INChistory →COM1.02%$4M32.3K
28JPMJPMORGAN CHASE & COhistory →COM1.01%$4M21.2K
29DOWDOW INCCOM0.98%$4M71.2K
30SPROTT PHYSICAL GOLD & SILVETR UNIT0.97%$4M199.7K
31ACAARCOSA INCCOM0.88%$4M43.0K
32ARCCARES CAPITAL CORPCOM0.83%$3M166.2K
33CECOCECO ENVIRONMENTAL CORPCOM0.82%$3M148.8K
34GQ9SPDR GOLD TRGOLD SHS0.77%$3M15.7K
35KVUEKENVUE INCCOM0.76%$3M149.2K
36PFEPFIZER INCCOM0.70%$3M105.3K
37PGPROCTER AND GAMBLE COCOM0.69%$3M17.9K
38QTRXQUANTERIX CORPCOM0.67%$3M119.1K
39CALXCALIX INCCOM0.66%$3M83.6K
40CYRXCRYOPORT INCCOM PAR $0.0010.65%$3M153.0K
41ZETAZETA GLOBAL HOLDINGS CORPCL A0.63%$3M242.7K
42CHUBB LIMITEDCOM0.62%$3M10.0K
43ABXBARRICK GOLD CORPCOM0.57%$2M142.4K
44WBDWARNER BROS DISCOVERY INCCOM SER A0.54%$2M260.9K
45AMZNAMAZON COM INCCOM0.54%$2M12.6K
46WYWEYERHAEUSER CO MTN BECOM NEW0.53%$2M61.9K
47EVLVEVOLV TECHNOLOGIES HLDNGS INCOM CL A0.53%$2M495.4K
48LANDGLADSTONE LD CORPCOM0.49%$2M153.5K
49TRGPTARGA RES CORPCOM0.46%$2M17.3K
50NPKINEWPARK RES INCCOM PAR $.01NEW0.45%$2M263.1K

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 ↗.