# EDGAR Filing Document

**Accession Number:** 0001213206
**File Stem:** 0001172661-25-003965
**Filing Date:** 2025-8
**Character Count:** 48991
**Document Hash:** a0848d2ed903c918edb3c181abbf431e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001172661-25-003965.hdr.sgml**: 20250829

**ACCESSION NUMBER**: 0001172661-25-003965

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250829

**EFFECTIVENESS DATE**: 20250829

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MARATHON CAPITAL MANAGEMENT
- **CENTRAL INDEX KEY:** 0001213206

**ORGANIZATION NAME:**
- **EIN:** 203954582
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-12098
- **FILM NUMBER:** 251277119

**BUSINESS ADDRESS:**
- **STREET 1:** 4 NORTH PARK DRIVE
- **STREET 2:** SUITE 106
- **CITY:** HUNT VALLEY
- **STATE:** MD
- **ZIP:** 21030-1806
- **BUSINESS PHONE:** 410-329-1522

**MAIL ADDRESS:**
- **STREET 1:** 4 NORTH PARK DRIVE
- **STREET 2:** SUITE 106
- **CITY:** HUNT VALLEY
- **STATE:** MD
- **ZIP:** 21030-1806

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001213206

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** MARATHON CAPITAL MANAGEMENT

**Address:** 4 NORTH PARK DRIVE, HUNT VALLEY, MD 21030-1806

**Telephone number:** 410-329-1522

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-12098

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                           | CUSIP     | MEETING DATE   | VOTE DESCRIPTION                                                                                                                                                                                                                                                   | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| ACCENTURE PLC                            | G1151C101 | 02/06/2025     | To approve, in a non-binding vote, the compensation of our named executive officers.                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         50     |                0 | FOR         |                                   50     | FOR                         |  |
| ADMA BIOLOGICS, INC.                     | 000899104 | 06/04/2025     | To approve, on a non-binding, advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |     128385     |                0 | FOR         |                               128385     | FOR                         |  |
| ADMA BIOLOGICS, INC.                     | 000899104 | 06/04/2025     | To determine, on a non-binding, advisory basis, the frequency of future advisory votes on the compensation of the Company's named executive officers.                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |     128385     |                0 | 1-YEAR      |                               128385     | FOR                         |  |
| ALPHATEC HOLDINGS, INC.                  | 02081G201 | 06/11/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |     198000     |                0 | FOR         |                               198000     | FOR                         |  |
| ALTRIA GROUP, INC.                       | 02209S103 | 05/15/2025     | Non-Binding Advisory Vote to Approve the Compensation of Altria's Named Executive Officers                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |        964     |                0 | FOR         |                                  964     | FOR                         |  |
| AMAZON.COM, INC.                         | 023135106 | 05/21/2025     | ADVISORY VOTE TO APPROVE EXECUTIVE COMPENSATION                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |      19821     |                0 | FOR         |                                19821     | FOR                         |  |
| AMENTUM HOLDINGS, INC                    | 023939101 | 03/05/2025     | Advisory vote to approve the Company's named executive officer compensation.                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |        150     |                0 | FOR         |                                  150     | FOR                         |  |
| AMENTUM HOLDINGS, INC                    | 023939101 | 03/05/2025     | Advisory vote on the frequency of the advisory vote to approve the Company's named executive officer compensation.                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |        150     |                0 | 1-YEAR      |                                  150     | FOR                         |  |
| ANALOG DEVICES, INC.                     | 032654105 | 03/12/2025     | Advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |        150     |                0 | FOR         |                                  150     | FOR                         |  |
| ANI PHARMACEUTICALS, INC.                | 00182C103 | 05/22/2025     | To approve the compensation of the Company's named executive officers, on a non-binding, advisory basis.                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |      58530     |                0 | FOR         |                                58530     | FOR                         |  |
| APPLE INC.                               | 037833100 | 02/25/2025     | Advisory vote to approve executive compensation                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |      18683     |                0 | FOR         |                                18683     | FOR                         |  |
| APTIV PLC                                | G3265R107 | 04/23/2025     | Say-on-Pay - To approve, by advisory vote, executive compensation.                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |          7     |                0 | FOR         |                                    7     | FOR                         |  |
| ARGENX SE                                | 04016X101 | 05/27/2025     | The 2024 remuneration report                                                                                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |          7     |                0 | FOR         |                                    7     | FOR                         |  |
| ARROWHEAD PHARMACEUTICALS, INC.          | 04280A100 | 03/12/2025     | Advisory Vote to Approve Executive Compensation.                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |         91     |                0 | FOR         |                                   91     | FOR                         |  |
| ARROWHEAD PHARMACEUTICALS, INC.          | 04280A100 | 03/12/2025     | Advisory Vote on Frequency of Executive Compensation Advisory Votes.                                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         91     |                0 | 1-YEAR      |                                   91     | FOR                         |  |
| ASTRAZENECA PLC                          | 046353108 | 04/11/2025     | To approve the annual statement of the Chair of the Remuneration Committee and the Annual Report on Remuneration for the year ended 31 December 2024                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |     110980     |                0 | FOR         |                               110980     | FOR                         |  |
| AT INC.                                  | 00206R102 | 05/15/2025     | Advisory Approval of Executive Compensation                                                                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |         94     |                0 | FOR         |                                   94     | FOR                         |  |
| ATKORE INC.                              | 047649108 | 01/30/2025     | The non-binding advisory vote approving executive compensation.                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |         55     |                0 | FOR         |                                   55     | FOR                         |  |
| ATMOS ENERGY CORPORATION                 | 049560105 | 02/05/2025     | Proposal for an advisory vote by shareholders to approve the compensation of the Company's named executive officers for fiscal 2024 ("Say-on-Pay").                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        125     |                0 | FOR         |                                  125     | FOR                         |  |
| AVID BIOSERVICES, INC.                   | 05368M106 | 01/30/2025     | To approve, on an advisory (non-binding) basis, the compensation that may be paid or become payable to Avid's named executive officers that is based on or otherwise relates to the Merger Agreement and the transactions contentemplated by the Merger Agreement. | SECTION 14A SAY-ON-PAY VOTES |       1500     |                0 | FOR         |                                 1500     | FOR                         |  |
| BLACKROCK, INC.                          | 09290D101 | 05/15/2025     | Approval, in a non-binding advisory vote, of the compensation for named executive officers.                                                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |        125     |                0 | FOR         |                                  125     | FOR                         |  |
| BOOZ ALLEN HAMILTON HOLDING CORPORATION  | 099502106 | 07/24/2024     | Advisory vote to approve the compensation of the Company's named executive officers.                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |         67     |                0 | FOR         |                                   66     | FOR                         |  |
| BP P.L.C.                                | 055622104 | 04/17/2025     | To approve the directors' remuneration report                                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |       2831     |                0 | FOR         |                                 2831     | FOR                         |  |
| BROADCOM INC                             | 11135F101 | 04/21/2025     | Advisory vote to approve the named executive officer compensation.                                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |       1360     |                0 | FOR         |                                 1360     | FOR                         |  |
| CARRIER GLOBAL CORPORATION               | 14448C104 | 04/09/2025     | Advisory Vote to Approve Named Executive Officer Compensation                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |       1669     |                0 | FOR         |                                 1669     | FOR                         |  |
| CECO ENVIRONMENTAL CORP.                 | 125141101 | 05/20/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      58280     |                0 | FOR         |                                58280     | FOR                         |  |
| CECO ENVIRONMENTAL CORP.                 | 125141101 | 05/20/2025     | To recommend, on an advisory basis, the frequency of future advisory votes to approve named executive officer compensation.                                                                                                                                        | SECTION 14A SAY-ON-PAY VOTES |      58280     |                0 | 1-YEAR      |                                58280     | FOR                         |  |
| CHEVRON CORPORATION                      | 166764100 | 05/28/2025     | Advisory Vote to Approve Named Executive Officer Compensation                                                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |      39985.2   |                0 | FOR         |                                39985.2   | FOR                         |  |
| CIENA CORPORATION                        | 171779309 | 03/27/2025     | Advisory vote on our named executive officer compensation, as described in the proxy materials.                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |        186     |                0 | FOR         |                                  186     | FOR                         |  |
| CIVITAS RESOURCES, INC.                  | 17888H103 | 06/04/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |       5200     |                0 | FOR         |                                 5200     | FOR                         |  |
| CLEVELAND-CLIFFS INC.                    | 185899101 | 05/15/2025     | Approval, on an advisory basis, of Cleveland-Cliffs Inc.'s named executive officers' compensation.                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |      15000     |                0 | FOR         |                                15000     | FOR                         |  |
| CONSOLIDATED EDISON, INC.                | 209115104 | 05/19/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        669.514 |                0 | FOR         |                                  669.514 | FOR                         |  |
| CONSTELLATION BRANDS, INC.               | 21036P108 | 07/17/2024     | To approve, by an advisory vote, the compensation of the Company's named executive officers as disclosed in the Proxy Statement.                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |        300     |                0 | FOR         |                                  300     | FOR                         |  |
| COSTCO WHOLESALE CORPORATION             | 22160K105 | 01/23/2025     | Approval, on an advisory basis, of executive compensation.                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |        100     |                0 | FOR         |                                  100     | FOR                         |  |
| CVS HEALTH CORPORATION                   | 126650100 | 05/15/2025     | Say on Pay, a Proposal to Approve, on an Advisory Basis, the Company's Executive Compensation.                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        150     |                0 | FOR         |                                  150     | FOR                         |  |
| DIAMONDBACK ENERGY, INC.                 | 25278X109 | 05/21/2025     | The approval, on an advisory basis, of the compensation of the Company's named executive officers.                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |      36175     |                0 | FOR         |                                36175     | FOR                         |  |
| DOW INC.                                 | 260557103 | 04/10/2025     | Advisory Resolution to Approve Executive Compensation                                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |     102855     |                0 | FOR         |                               102855     | FOR                         |  |
| DROPBOX, INC.                            | 26210C104 | 05/15/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        750     |                0 | FOR         |                                  750     | FOR                         |  |
| DROPBOX, INC.                            | 26210C104 | 05/15/2025     | To approve, on an advisory basis, the frequency of future stockholder advisory votes on the compensation of our named executive officers.                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |        750     |                0 | 1-YEAR      |                                  750     | FOR                         |  |
| DXC TECHNOLOGY COMPANY                   | 23355L106 | 07/30/2024     | Approval, in a non-binding advisory vote, of our named executive officer compensation.                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |       5500     |                0 | FOR         |                                 5500     | FOR                         |  |
| ELECTRONIC ARTS INC.                     | 285512109 | 08/01/2024     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         39     |                0 | FOR         |                                   38     | FOR                         |  |
| EMERSON ELECTRIC CO.                     | 291011104 | 02/04/2025     | Approval, by non-binding advisory vote, of Emerson Electric Co. executive compensation.                                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |        592     |                0 | FOR         |                                  592     | FOR                         |  |
| FLOTEK INDUSTRIES, INC.                  | 343389409 | 05/16/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |       3500     |                0 | FOR         |                                 3500     | FOR                         |  |
| HERC HOLDINGS INC.                       | 42704L104 | 05/15/2025     | Approval, by a non-binding advisory vote, of the named executive officers' compensation.                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         42     |                0 | FOR         |                                   42     | FOR                         |  |
| HILLMAN SOLUTIONS CORP.                  | 431636109 | 06/03/2025     | Approve, by non-binding vote, the compensation of our named executive officers.                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |      94025     |                0 | FOR         |                                94025     | FOR                         |  |
| HOLOGIC, INC.                            | 436440101 | 02/26/2025     | A non-binding advisory vote to approve executive compensation.                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         85     |                0 | FOR         |                                   85     | FOR                         |  |
| HP INC.                                  | 40434L105 | 04/14/2025     | To approve, on an advisory basis, HP Inc.'s named executive officer compensation                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |       4000     |                0 | FOR         |                                 4000     | FOR                         |  |
| HUDSON TECHNOLOGIES, INC.                | 444144109 | 06/11/2025     | To approve, by non-binding advisory vote, named executive officer compensation.                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |     164000     |                0 | FOR         |                               164000     | FOR                         |  |
| HUDSON TECHNOLOGIES, INC.                | 444144109 | 06/11/2025     | To approve, by non-binding vote, the frequency of future advisory votes on the resolution approving named executive officer compensation.                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |     164000     |                0 | 1-YEAR      |                               164000     | FOR                         |  |
| IDENTIV, INC.                            | 45170X205 | 06/10/2025     | To approve the compensation of the Company's named executive officers, on a non-binding advisory basis.                                                                                                                                                            | SECTION 14A SAY-ON-PAY VOTES |      73950     |                0 | FOR         |                                73950     | FOR                         |  |
| INSMED INCORPORATED                      | 457669307 | 05/15/2025     | An advisory vote on the 2024 compensation of our named executive officers.                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |        153     |                0 | FOR         |                                  153     | FOR                         |  |
| INSTEEL INDUSTRIES INC.                  | 45774W108 | 02/11/2025     | To approve, on an advisory basis, the compensation of our named executive officers.                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        161     |                0 | FOR         |                                  161     | FOR                         |  |
| INTRA-CELLULAR THERAPIES, INC.           | 46116X101 | 03/27/2025     | To approve, on an advisory (non-binding) basis, the compensation that may be paid or become payable to ITI's named executive officers that is based on or otherwise relates to the Merger Agreement and the transactions contemplated by the Merger Agreement.     | SECTION 14A SAY-ON-PAY VOTES |         35     |                0 | FOR         |                                   35     | FOR                         |  |
| INTUIT INC.                              | 461202103 | 01/23/2025     | Advisory vote to approve Intuit's executive compensation (say-on-pay).                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |         41     |                0 | FOR         |                                   41     | FOR                         |  |
| INVITATION HOMES INC.                    | 46187W107 | 05/15/2025     | To approve, in a non-binding advisory vote, the compensation paid to our named executive officers.                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |        140     |                0 | FOR         |                                  140     | FOR                         |  |
| INVITATION HOMES INC.                    | 46187W107 | 05/15/2025     | To determine, in a non-binding advisory vote, the frequency of stockholder votes to approve executive compensation.                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        140     |                0 | 1-YEAR      |                                  140     | FOR                         |  |
| JOHNSON CONTROLS INTERNATIONAL PLC       | G51502105 | 03/12/2025     | To approve, in a non-binding advisory vote, the compensation of the named executive officers.                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |        100     |                0 | FOR         |                                  100     | FOR                         |  |
| M BANK CORPORATION                       | 55261F104 | 04/15/2025     | TO APPROVE THE 2024 COMPENSATION OF M BANK CORPORATION'S NAMED EXECUTIVE OFFICERS.                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |        100     |                0 | FOR         |                                  100     | FOR                         |  |
| MARSH  MCLENNAN COMPANIES, INC.          | 571748102 | 05/15/2025     | Advisory (Nonbinding) Vote to Approve Named Executive Officer Compensation                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |         65     |                0 | FOR         |                                   65     | FOR                         |  |
| MCKESSON CORPORATION                     | 58155Q103 | 07/31/2024     | Advisory vote on Executive Compensation.                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |         40     |                0 | FOR         |                                   40     | FOR                         |  |
| MERCK  CO., INC.                         | 58933Y105 | 05/27/2025     | Non-binding advisory vote to approve the compensation of our named executive officers.                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |      24017     |                0 | FOR         |                                24017     | FOR                         |  |
| MICRON TECHNOLOGY, INC.                  | 595112103 | 01/16/2025     | PROPOSAL BY THE COMPANY TO APPROVE, ON A NON-BINDING ADVISORY BASIS, THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS AS DESCRIBED IN THE PROXY STATEMENT.                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |       5750     |                0 | FOR         |                                 5750     | FOR                         |  |
| MORGAN STANLEY                           | 617446448 | 05/15/2025     | To approve the compensation of executives as disclosed in the proxy statement (non-binding advisory vote)                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |        889     |                0 | FOR         |                                  889     | FOR                         |  |
| NESTLE S.A.                              | 641069406 | 04/16/2025     | Acceptance of the Compensation Report 2024 (advisory vote)                                                                                                                                                                                                         | SECTION 14A SAY-ON-PAY VOTES |        500     |                0 | FOR         |                                  500     | FOR                         |  |
| NOVARTIS AG                              | 66987V109 | 03/07/2025     | Advisory vote on the 2024 Compensation Report.                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |        375     |                0 | FOR         |                                  375     | FOR                         |  |
| NPK INTERNATIONAL INC.                   | 651718504 | 05/15/2025     | Advisory vote to approve named executive officer compensation.                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |     331475     |                0 | FOR         |                               331475     | FOR                         |  |
| OTIS WORLDWIDE CORPORATION               | 68902V107 | 05/15/2025     | Advisory Vote to Approve Executive Compensation                                                                                                                                                                                                                    | SECTION 14A SAY-ON-PAY VOTES |        863.022 |                0 | FOR         |                                  863.022 | FOR                         |  |
| PPG INDUSTRIES, INC.                     | 693506107 | 04/17/2025     | Approve the compensation of the Company's named executive officers on an advisory basis.                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        100     |                0 | FOR         |                                  100     | FOR                         |  |
| QUALCOMM INCORPORATED                    | 747525103 | 03/18/2025     | Approval, on an advisory basis, of the compensation of our named executive officers.                                                                                                                                                                               | SECTION 14A SAY-ON-PAY VOTES |      39245     |                0 | FOR         |                                39245     | FOR                         |  |
| REGIONS FINANCIAL CORPORATION            | 7591EP100 | 04/16/2025     | Advisory Vote to Approve Regions' Executive Compensation.                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |        500     |                0 | FOR         |                                  500     | FOR                         |  |
| RENALYTIX PLC                            | 75973T101 | 12/19/2024     | Approval of the Company's Directors' Remuneration Report.                                                                                                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |       3000     |                0 | FOR         |                                 3000     | FOR                         |  |
| RIO TINTO PLC                            | 767204100 | 04/03/2025     | Approval of the Directors' Remuneration Report: Implementation Report                                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |       5375     |                0 | FOR         |                                 5375     | FOR                         |  |
| RIO TINTO PLC                            | 767204100 | 04/03/2025     | Approval of the Directors' Remuneration Report                                                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |       5375     |                0 | FOR         |                                 5375     | FOR                         |  |
| SANMINA CORPORATION                      | 801056102 | 03/10/2025     | To approve, on an advisory (non-binding) basis, the compensation of Sanmina Corporation's named executive officers.                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |       5000     |                0 | FOR         |                                 5000     | FOR                         |  |
| SCHLUMBERGER LIMITED (SCHLUMBERGER N.V.) | 806857108 | 04/02/2025     | Advisory approval of our executive compensation.                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |      88255     |                0 | FOR         |                                88255     | FOR                         |  |
| STARBUCKS CORPORATION                    | 855244109 | 03/12/2025     | Approve, on an advisory, nonbinding basis, the compensation of our named executive officers.                                                                                                                                                                       | SECTION 14A SAY-ON-PAY VOTES |       1510     |                0 | FOR         |                                 1510     | FOR                         |  |
| SYMBOTIC INC                             | 87151X101 | 03/06/2025     | To approve an advisory vote on the frequency of a stockholder vote on our executive compensation.                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |      42180     |                0 | 1-YEAR      |                                42180     | FOR                         |  |
| SYMBOTIC INC                             | 87151X101 | 03/06/2025     | To approve an advisory vote on the compensation paid to our named executive officers.                                                                                                                                                                              | SECTION 14A SAY-ON-PAY VOTES |      42180     |                0 | FOR         |                                42180     | FOR                         |  |
| TARGA RESOURCES CORP.                    | 87612G101 | 05/20/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers for the fiscal year ended December 31, 2024.                                                                                                                          | SECTION 14A SAY-ON-PAY VOTES |      10975     |                0 | FOR         |                                10975     | FOR                         |  |
| TE CONNECTIVITY PLC                      | G87052109 | 03/12/2025     | An advisory vote to approve named executive officer compensation.                                                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |        225     |                0 | FOR         |                                  225     | FOR                         |  |
| TEXAS INSTRUMENTS INCORPORATED           | 882508104 | 04/17/2025     | Board proposal regarding advisory approval of the Company's executive compensation.                                                                                                                                                                                | SECTION 14A SAY-ON-PAY VOTES |        350     |                0 | FOR         |                                  350     | FOR                         |  |
| THE AZEK COMPANY INC.                    | 05478C105 | 02/28/2025     | To approve, on an advisory, non-binding basis, the compensation of our named executive officers.                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |        160     |                0 | FOR         |                                  160     | FOR                         |  |
| THE ENSIGN GROUP, INC.                   | 29358P101 | 05/15/2025     | Approval, on an advisory basis, of our named executive officers' compensation.                                                                                                                                                                                     | SECTION 14A SAY-ON-PAY VOTES |         55     |                0 | FOR         |                                   55     | FOR                         |  |
| THE SHERWIN-WILLIAMS COMPANY             | 824348106 | 04/16/2025     | Advisory approval of the compensation of the named executive officers.                                                                                                                                                                                             | SECTION 14A SAY-ON-PAY VOTES |          3     |                0 | FOR         |                                    3     | FOR                         |  |
| TRANSOCEAN, LTD.                         | H8817H100 | 05/30/2025     | Advisory Vote to Approve Named Executive Officer Compensation for Fiscal Year 2025                                                                                                                                                                                 | SECTION 14A SAY-ON-PAY VOTES |     193100     |                0 | FOR         |                               193100     | FOR                         |  |
| TRAVERE THERAPEUTICS, INC.               | 89422G107 | 05/15/2025     | To approve, on an advisory basis, the compensation of the Company's named executive officers.                                                                                                                                                                      | SECTION 14A SAY-ON-PAY VOTES |        144     |                0 | FOR         |                                  144     | FOR                         |  |
| TRIMBLE INC.                             | 896239100 | 09/30/2024     | Advisory vote to approve executive compensation.                                                                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |        250     |                0 | FOR         |                                  250     | FOR                         |  |
| U.S. BANCORP                             | 902973304 | 04/15/2025     | An advisory vote to approve the compensation of our executives disclosed in the proxy statement.                                                                                                                                                                   | SECTION 14A SAY-ON-PAY VOTES |        280     |                0 | FOR         |                                  280     | FOR                         |  |
| UNDER ARMOUR, INC.                       | 904311107 | 09/04/2024     | To approve, by a non-binding advisory vote, the compensation of executives as disclosed in the "Executive Compensation" section of the proxy statement, including the Compensation Discussion and Analysis and tables.                                             | SECTION 14A SAY-ON-PAY VOTES |         54     |                0 | FOR         |                                   54     | FOR                         |  |
| VISA INC.                                | 92826C839 | 01/28/2025     | To approve, on an advisory basis, the compensation paid to our named executive officers.                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        566     |                0 | FOR         |                                  566     | FOR                         |  |
| WILLIS TOWERS WATSON PLC                 | G96629103 | 05/15/2025     | Approve, on an advisory basis, the named executive officer compensation.                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |      14593     |                0 | FOR         |                                14593     | FOR                         |  |
| YUM! BRANDS, INC.                        | 988498101 | 05/15/2025     | Advisory Vote on Executive Compensation.                                                                                                                                                                                                                           | SECTION 14A SAY-ON-PAY VOTES |        400     |                0 | FOR         |                                  400     | FOR                         |  |
| ZETA GLOBAL HOLDINGS CORP.               | 98956A105 | 06/09/2025     | Approval, on an advisory (non-binding) basis, of the compensation of our named executive officers                                                                                                                                                                  | SECTION 14A SAY-ON-PAY VOTES |     192000     |                0 | FOR         |                               192000     | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** MARATHON CAPITAL MANAGEMENT

**By (Signature):** Lynn Hickel

**By (Printed Signature):** Lynn Hickel

**By (Title):** Associate

**Date:** 08/29/2025