MARATHON CAPITAL MANAGEMENT

All Holdings — 2025 Q4

AI Portfolio Summary
In 2025 Q4, MARATHON CAPITAL MANAGEMENT maintained a portfolio of 176 distinct positions. The most significant new addition to the portfolio was ZOETIS INC, which now represents 0.95% of the total fund value. They heavily accumulated shares in SPDR SERIES TRUST, increasing their position by 31.7%. The fund also reduced its exposure to COPA HOLDINGS SA by 27.8%.
PCA Score Concentration Risk
Risk ENB
Total Positions
176
Quarter
2025 Q4
Top Holding
TROW (14.4%)
Top 10 Concentration
39.0%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 176
Stock History Sector / Type Port % Prev % Rank / Prev Conviction Change % Change Influence Shares Mkt Value Avg Cost Price Held 1st Owned Source Source Date Date Reported
TROW
PRICE T ROWE GR...
Financial Services 14.39% 16.08% #1
Prev: #1
6.5 -31,500 -4.6%
P
S
653,125 $66,866,938 2008 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
GLW
CORNING INC
Technology 3.49% 3.64% #2
Prev: #2
3.4 -8,509 -4.4%
P
S
185,415 $16,234,981 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
BIL
SPDR SERIES TRU...
ETF 3.17% 2.57% #3 3
Prev: #6
4.8 38,842 31.7%
P
S
161,415 $14,750,103 2022 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
AZN
ASTRAZENECA PLC
Healthcare 3.12% 2.83% #4
Prev: #4
2.2 -3,208 -2.0%
P
S
157,747 $14,501,689 2023 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GOOG
ALPHABET INC
Communication Services 2.91% 2.48% #5 2
Prev: #7
2.2 -1,254 -2.8%
P
S
43,155 $13,541,889 2013 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
AAPL
APPLE INC
Technology 2.86% 2.99% #6 3
Prev: #3
1.6 -2,452 -4.8%
P
S
48,820 $13,272,128 2012 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
TTI
TETRA TECHNOLOG...
Industrials 2.40% 1.67% #7 8
Prev: #15
1.5 -80,830 -6.4%
P
S
1,191,195 $11,161,497 2019 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MSFT
MICROSOFT CORP
Technology 2.39% 2.78% #8 3
Prev: #5
1.5 -528 -2.2%
P
S
22,942 $11,095,047 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
QCOM
QUALCOMM INC
Technology 2.21% 2.29% #9 1
Prev: #8
1.4 -126 -0.2%
P
S
60,104 $10,280,759 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
FANG
DIAMONDBACK ENE...
Energy 2.03% 2.02% #10 1
Prev: #11
1.3 1,098 1.8%
P
S
62,678 $9,422,315 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
IBM
INTERNATIONAL B...
Technology 2.02% 2.05% #11 1
Prev: #10
1.3 -34 -0.1%
P
S
31,648 $9,374,361 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
VYMI
VANGUARD WHITEH...
Bond/Debt 2.01% 1.97% #12 1
Prev: #13
1.3 2,448 2.4%
P
S
104,027 $9,362,413 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CVX
CHEVRON CORP NE...
Energy 1.93% 2.13% #13 4
Prev: #9
1.3 -1,282 -2.1%
P
S
58,759 $8,955,533 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ADMA
ADMA BIOLOGICS ...
Healthcare 1.83% 1.57% #14 4
Prev: #18
1.2 -1,255 -0.3%
P
S
465,315 $8,487,346 2025 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
MET
METLIFE INC
Financial Services 1.76% 1.97% #15 3
Prev: #12
1.2 -882 -0.8%
P
S
103,653 $8,182,341 2018 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ALSN
ALLISON TRANSMI...
Consumer Cyclical 1.57% 1.46% #16 5
Prev: #21
1.1 -766 -1.0%
P
S
74,458 $7,289,430 2021 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
AMZN
AMAZON COM INC
Consumer Cyclical 1.50% 1.52% #17 3
Prev: #20
1.1 -12 -0.0%
P
S
30,257 $6,983,921 2017 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
JPM
JPMORGAN CHASE ...
Financial Services 1.47% 1.53% #18 1
Prev: #19
1.1 -45 -0.2%
P
S
21,199 $6,830,720 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
O
REALTY INCOME C...
Real Estate 1.37% 1.59% #19 2
Prev: #17
1.0 -1,181 -1.0%
P
S
113,208 $6,381,551 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
CPA
COPA HOLDINGS S...
Industrials 1.34% 1.94% #20 6
Prev: #14
0.5 -19,820 -27.8%
P
S
51,553 $6,217,807 2020 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
BLDR
BUILDERS FIRSTS...
Industrials 1.31% 1.61% #21 5
Prev: #16
1.0 1,102 1.9%
P
S
59,153 $6,086,252 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CECO
CECO ENVIRONMEN...
Industrials 1.31% 1.19% #22 5
Prev: #27
1.0 -15 -0.0%
P
S
101,685 $6,085,847 2021 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
FIS
FIDELITY NATL I...
Technology 1.27% 1.37% #23
Prev: #23
1.0 -1,679 -1.9%
P
S
88,868 $5,906,144 2023 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
CEF
SPROTT ASSET MA...
Unknown 1.23% 1.06% #24 8
Prev: #32
1.0 -1,125 -0.9%
P
S
125,100 $5,729,580 2023 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
BRK/B
BERKSHIRE HATHA...
Financial Services 1.22% 1.30% #25
Prev: #25
1.0 52 0.5%
P
S
11,319 $5,689,495 2013 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
B
BARRICK MNG COR...
Basic Materials 1.22% 1.02% #26 7
Prev: #33
1.0 -5,865 -4.3%
P
S
129,825 $5,653,857 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
ANIP
ANI PHARMACEUTI...
Healthcare 1.18% 1.46% #27 5
Prev: #22
1.0 -40 -0.1%
P
S
69,665 $5,499,355 2021 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
WTW
WILLIS TOWERS W...
Financial Services 1.17% 1.32% #28 4
Prev: #24
1.0 -83 -0.5%
P
S
16,580 $5,448,188 2021 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
JNJ
JOHNSON & JOHNS...
Healthcare 1.17% 1.22% #29 3
Prev: #26
1.0 -2,550 -8.9%
P
S
26,186 $5,419,314 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
DHR
DANAHER CORPORA...
Healthcare 1.14% 1.06% #30
Prev: #30
1.0 -395 -1.7%
P
S
23,039 $5,274,152 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ALMTF
ALMONTY INDS IN...
Unknown 1.13% 0.35% #31 25
Prev: #56
3.5 343,280 137.2%
P
S
593,515 $5,228,867 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ACA
ARCOSA INC
Industrials 1.09% 1.01% #32 2
Prev: #34
0.9 210 0.4%
P
S
47,525 $5,052,858 2019 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ADBE
ADOBE INC
Technology 0.99% 1.01% #33 2
Prev: #35
2.4 624 5.0%
P
S
13,081 $4,578,219 2021 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ZETA
ZETA GLOBAL HOL...
Technology 0.97% 0.99% #34 3
Prev: #37
0.9 3,295 1.5%
P
S
221,905 $4,515,767 2023 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
ZTS
ZOETIS INC
Healthcare 0.95% #35
Prev: #—
3.9 35,150 no change
NEW
35,150 $4,422,573 2021 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
GLD
SPDR GOLD TR
ETF 0.94% 0.92% #36 2
Prev: #38
0.9 -360 -3.2%
P
S
10,988 $4,354,654 2022 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
CALX
CALIX INC
Technology 0.92% 1.13% #37 8
Prev: #29
0.9 385 0.5%
P
S
80,585 $4,265,364 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
NPKI
NPK INTERNATION...
Energy 0.92% 1.01% #38 2
Prev: #36
0.9 -30,960 -8.0%
P
S
357,390 $4,260,089 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
NVO
NOVO-NORDISK A ...
Healthcare 0.91% 0.73% #39 2
Prev: #41
2.9 25,230 43.9%
P
S
82,705 $4,208,030 2025 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
ATEC
ALPHATEC HLDGS ...
Healthcare 0.90% 0.67% #40 2
Prev: #42
0.9 -2,025 -1.0%
P
S
198,900 $4,184,856 2024 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
DOC
HEALTHPEAK PROP...
Real Estate 0.86% 1.14% #41 13
Prev: #28
0.8 -12,524 -4.8%
P
S
247,542 $3,980,477 2020 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
CB
CHUBB LIMITED
Financial Services 0.86% 0.81% #42 3
Prev: #39
0.8 140 1.1%
P
S
12,740 $3,976,409 2023 Q3 13F Filing 2025-12-31 2026-02-14 (Est.)
MRK
MERCK & CO INC
Healthcare 0.76% 0.66% #43
Prev: #43
0.8 -487 -1.4%
P
S
33,665 $3,543,578 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
ARCC
ARES CAPITAL CO...
Financial Services 0.72% 0.74% #44 4
Prev: #40
0.8 7,125 4.5%
P
S
164,845 $3,334,822 2020 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
PAR
PAR TECHNOLOGY ...
Technology 0.60% 0.61% #45 1
Prev: #44
2.2 9,240 13.7%
P
S
76,835 $2,787,574 2025 Q2 13F Filing 2025-12-31 2026-02-14 (Est.)
LLY
ELI LILLY & CO
Healthcare 0.59% 0.45% #46 2
Prev: #48
0.7 -35 -1.4%
P
S
2,548 $2,738,285 2019 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
GOOGL
ALPHABET INC
Communication Services 0.53% 0.41% #47 4
Prev: #51
2.2 550 7.5%
P
S
7,835 $2,452,355 2018 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
MU
MICRON TECHNOLO...
Technology 0.51% 0.37% #48 6
Prev: #54
0.7 -1,415 -14.6%
P
S
8,295 $2,367,476 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
SYM
SYMBOTIC INC
Industrials 0.51% 0.49% #49 3
Prev: #46
0.7 55 0.1%
P
S
39,570 $2,354,415 2024 Q1 13F Filing 2025-12-31 2026-02-14 (Est.)
PG
PROCTER AND GAM...
Consumer Defensive 0.50% 0.60% #50 5
Prev: #45
0.7 -664 -3.9%
P
S
16,293 $2,334,997 2006 Q4 13F Filing 2025-12-31 2026-02-14 (Est.)
Showing 1-50 of 176 holdings

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