MARATHON CAPITAL MANAGEMENT

CIK 0001213206 · Q1 2026

13F Equity AUM

$445.2M

-4.2% QoQ

Positions

171

0 QoQ

AUM Rank

#4,626

Top 37%

Skill Alpha (FF)

-2.7%/yr^ns

No Clear Edge

Rank #6,008 · Top 73%

vs S&P -6.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 25.8%Top 10: 37.8%Top 20: 55.5%

TROW12.9%

BIL4.0%

GLW3.2%

AZN2.9%

AAPL2.8%

GOOG2.7%

AMZN2.6%

CHV2.3%

VYMI2.2%

FANG2.1%

Others (161)62.2%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services31.8%

Technology19.9%

Healthcare12.9%

Energy11.0%

Industrials6.7%

Consumer Cyclical5.3%

Communication Services3.7%

Real Estate3.5%

Other5.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 171Median: 0.16%Avg: 0.58%

0–0.5%

122(17.0%)

0.5–1%

16(11.8%)

1–3%

30(51.0%)

3–5%

2(7.2%)

5%+

1(12.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 164Unique: 7vs 20 funds

2.2%Low

171

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

BANK OF AMERICA CORP /DE/

3.3%

3.1%

3.7%

4.2%

4.8%

VANGUARD CAPITAL MANAGEMENT LLC

4.1%

GEODE CAPITAL MANAGEMENT, LLC

VANGUARD PORTFOLIO MANAGEMENT LLC

4.7%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New13Increased40Decreased81Exited13

New Positions

AZN2.9%

+65K

ZS2.1%

+66K

EWZ0.1%

+13K

RYN0.1%

+20K

BXP0.1%

+7K

ZM0.1%

+4K

7HP0.1%

+14K

ADP0.1%

+1K

KRMN0.1%

+4K

WM0.1%

+910

Increased

ADMA1.3%

+162K(+35%)

AMPL0.3%

+83K(+94%)

FIS1.6%

+67K(+75%)

ATEC0.6%

+63K(+32%)

BIL4.0%

+34K(+21%)

AMZN2.6%

+25K(+84%)

DYAI0.0%

+25K(+29%)

PAR0.3%

+24K(+31%)

ZETA0.8%

+10K(+4%)

MYCG0.2%

+7K(+32%)

Decreased

TTI1.9%

-212,184(-18%)

GLW3.2%

-80,228(-43%)

AII1.7%

-64,360(-11%)

CYRX0.1%

-30,000(-34%)

DAR0.4%

-27,525(-49%)

CPA0.7%

-23,765(-46%)

FANG2.1%

-14,727(-24%)

TROW12.9%

-14,600(-2%)

NPKI1.1%

-11,280(-3%)

MRK0.6%

-9,980(-30%)

Exited

-157,747

-95,628

-5,000

-46,040

-12,010

-600

-1,163

-435

-381

-331

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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