Marathon Trading Investment Management LLC

CIK 0001572748 · Q1 2026

13F Equity AUM

$3.7B

-16.8% QoQ

Positions

272

-53 QoQ

AUM Rank

#1,213

Top 10%

Skill Alpha (FF)

+6.9%/yr^ns

No Clear Edge

Rank #447 · Top 5%

vs S&P +1.9%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 68.9%Top 10: 83.3%Top 20: 89.8%

SLV26.8%

SLV18.7%

STATE STR SPDR S&P 500 ETF T9.7%

STATE STR SPDR S&P 500 ETF T7.8%

GLD5.9%

IBIT3.5%

GLD3.5%

TSLA3.3%

MSFT2.1%

MSFT2.0%

Others (262)16.7%

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

Sector Allocation

Financial Services53.2%

Fund19.4%

Unclassified16.8%

Technology6.8%

Other3.8%

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

Position Sizing

Positions: 272Median: 0.01%Avg: 0.37%

0–0.5%

255(11.5%)

0.5–1%

6(4.0%)

1–3%

3(5.3%)

3–5%

3(10.3%)

5%+

5(68.9%)

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

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Portfolio Overlap

Shared: 243Unique: 29vs 20 funds

3.3%Low

272

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)

JPMORGAN CHASE & CO

4.7%

MORGAN STANLEY

2.5%

BlackRock, Inc.

BANK OF AMERICA CORP /DE/

2.5%

STATE STREET CORP

3.2%

GEODE CAPITAL MANAGEMENT, LLC

2.9%

VANGUARD CAPITAL MANAGEMENT LLC

2.9%

FMR LLC

3.3%

VANGUARD PORTFOLIO MANAGEMENT LLC

3.2%

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

New81Increased58Decreased121Exited139

New Positions

INVESCO QQQ TR0.7%

+44K

PGYWW0.3%

+876K

GDX0.3%

+102K

ISHARES INC0.2%

+200K

OCCLL0.2%

+50K

VSNT0.2%

+193K

ISHARES TR0.2%

+80K

MSFT0.1%

+13K

EUFN0.1%

+74K

MRNA0.1%

+34K

Increased

IBIT3.5%

+1.7M(+99%)

MARA HOLDINGS INC0.2%

+728K(+1545%)

MARA0.2%

+513K(+237%)

STATE STR SPDR S&amp…9.7%

+510K(+1261%)

STATE STR SPDR S&amp…7.8%

+426K(+3670%)

GLD5.9%

+391K(+347%)

LAES0.1%

+312K(+55%)

BYND0.0%

+217K(+32%)

TRUMP MEDIA & TE…0.1%

+215K(+2106%)

IBIT1.1%

+175K(+19%)

Decreased

SLV18.7%

-4,602,500(-31%)

SLV26.8%

-3,805,500(-21%)

NVDA0.7%

-650,100(-81%)

JDCMF0.2%

-649,800(-73%)

NVDA0.3%

-641,237(-91%)

JD0.1%

-475,114(-79%)

IREN0.0%

-453,240(-100%)

GAMESTOP CORP0.0%

-420,300(-100%)

IREN LIMITED0.0%

-314,000(-96%)

TSLA0.0%

-289,700(-99%)

Exited

AAPL

-256,000

GOOG

-180,000

BANK AMERICA CORP

-360,200

GOOG

-60,100

WBD

-506,839

WOLF

-450,000

SIRIUSXM HOLDINGS IN…

-391,200

GOOG

-25,000

KVUE

-300,100

WELLS FARGO CO NEW

-50,000

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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