Marathon Capital Management

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Marathon Capital Management reported 161 stock positions worth $434.2 million. Its top holding was T Rowe Price (TROW) at 16.2% of the portfolio, followed by Corning (GLW, 3.7%) and Apple (AAPL, 3.0%). Compared with Q2 2025, it opened 15 new positions, sold out of 15, added to 34 and reduced 73. The biggest buy was SS SPDR BB 1-3M T-Bill ETF (BIL, shares +222%) and the biggest sale T Rowe Price (TROW, shares −3%).

Most Recent 13F
Q2 2026
Location
Hunt Valley, MD
CIK
0001213206
Portfolio Value
$434.2M (Q3 2025)
SEC Filing
0001172661-25-004808 ↗ filed Nov 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $416.0M Q1 2024 Q2 2024: $389.5M Q2 2024 Q3 2024: $409.5M Q3 2024 Q4 2024: $397.3M Q4 2024 Q1 2025: $372.7M Q1 2025 Q2 2025: $389.4M Q2 2025 Q3 2025: $434.2M $434.2M Q3 2025 Q4 2025: $462.9M Q4 2025 Q1 2026: $443.6M Q1 2026 Q2 2026: $492.3M Q2 2026

Holdings 161 stocks · $434.2M
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 16.18% 684,625 $70.3M Reduce -3.3%
GLW Corning Inc. 3.66% 193,924 $15.9M Reduce -7.6%
AAPL Apple Inc. 3.01% 51,272 $13.1M Reduce -3.9%
AZN Astrazeneca PLC-Spons ADR 2.84% 160,955 $12.3M Reduce -1.5%
MSFT Microsoft Corp. 2.80% 23,470 $12.2M Reduce -4.0%
BIL SS SPDR BB 1-3M T-Bill ETF 2.59% 122,573 $11.2M Add +222.2%
GOOG Alphabet Inc. Class C 2.49% 44,409 $10.8M Reduce -0.7%
QCOM Qualcomm Inc. 2.31% 60,230 $10.0M Reduce -0.8%
CVX Chevron Corp. 2.15% 60,041 $9.3M Reduce -1.1%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 2.06% 31,682 $8.9M Reduce -0.5%
FANG Diamondback Energy Inc. 2.03% 61,580 $8.8M Add +1.5%
MET Metlife Inc. 1.98% 104,535 $8.6M Reduce -2.1%
VYMI Vanguard Int High DVD YLD Inc. 1.98% 101,579 $8.6M Reduce -0.6%
CPA Copa Holdings SA Class A 1.95% 71,373 $8.5M Reduce -1.8%
TTI Tetra Technologies Inc. 1.68% 1,272,025 $7.3M Reduce -5.2%
BLDR Builders Firstsource Inc. 1.62% 58,051 $7.0M Add +0.6%
O Realty Income Corp. 1.60% 114,389 $7.0M Add +4.5%
ADMA Adma Biologics Inc. 1.58% 466,570 $6.8M Add +64.5%
JPM JPMorgan Chase & Co. 1.54% 21,244 $6.7M Reduce -0.1%
AMZN Amazon.com Inc. 1.53% 30,269 $6.6M Reduce -0.4%
ALSN Allison Transmission Holding 1.47% 75,224 $6.4M Reduce -0.4%
ANIP Ani Pharmaceuticals Inc. 1.47% 69,705 $6.4M Reduce -3.2%
FIS Fidelity National Info Serv 1.38% 90,547 $6.0M Reduce -0.0%
WTW Willis Towers Watson PLC 1.33% 16,663 $5.8M Reduce -1.5%
BRK.B Berkshire Hathaway Inc. Class B 1.30% 11,267 $5.7M Reduce -0.7%
JNJ Johnson & Johnson 1.23% 28,736 $5.3M Reduce -1.6%
CECO Ceco Environmental Corp. 1.20% 101,700 $5.2M Reduce -2.1%
DOC Healthpeak Properties Inc. 1.15% 260,066 $5.0M Reduce -1.4%
CALX Calix Inc. 1.13% 80,200 $4.9M Reduce -17.0%
DHR Danaher Corp. 1.07% 23,434 $4.6M Reduce -0.1%
SLB SLB Ltd. filed as SCHLUMBERGER LTD 1.07% 134,756 $4.6M Add +2.2%
CEF Sprott Physical Gold and Sil 1.07% 126,225 $4.6M Reduce -4.4%
B Barrick Mining Corp. 1.02% 135,690 $4.4M Reduce -7.3%
ACA Arcosa Inc. 1.02% 47,315 $4.4M Reduce -0.9%
ADBE Adobe Inc. 1.01% 12,457 $4.4M New
NPKI NPK International Inc. 1.01% 388,350 $4.4M Reduce -1.9%
ZETA Zeta Global Holdings Corp. Class A 1.00% 218,610 $4.3M Reduce -1.8%
GLD SPDR Gold Shares 0.93% 11,348 $4.0M Reduce -0.3%
CB Chubb Ltd. 0.82% 12,600 $3.6M Add +17.3%
ARCC Ares Capital Corp. 0.74% 157,720 $3.2M Reduce -2.2%
NVO Novo-Nordisk A/S-Spons ADR 0.73% 57,475 $3.2M New
ATEC Alphatec Holdings Inc. 0.67% 200,925 $2.9M Reduce -13.2%
MRK Merck & Co. Inc. 0.66% 34,152 $2.9M Reduce -1.1%
PAR Par Technology Corp. 0.62% 67,595 $2.7M Add +383.2%
PG The Procter & Gamble Co. 0.60% 16,957 $2.6M Add +1.3%
SYM Symbotic Inc. 0.49% 39,515 $2.1M Reduce -62.8%
ENPH Enphase Energy Inc. 0.47% 58,058 $2.1M Add +4.0%
LLY Eli Lilly & Co. 0.45% 2,583 $2.0M Add +0.3%
TRGP Targa Resources Corp. 0.45% 11,750 $2.0M Reduce -1.9%
HDSN Hudson Technologies Inc. 0.44% 194,450 $1.9M Reduce -22.1%
GOOGL Alphabet Inc. Class A 0.41% 7,285 $1.8M Reduce -2.0%
DAR Darling Ingredients Inc. 0.39% 54,985 $1.7M Reduce -3.0%
WY Weyerhaeuser Co. 0.39% 67,916 $1.7M Add +26.0%
MU Micron Technology Inc. 0.37% 9,710 $1.6M Add +3.0%
GDX Vaneck Gold Miners ETF 0.35% 20,146 $1.5M Reduce -6.6%
ALM Almonty Industries Inc. 0.35% 250,235 $1.5M New
SELF Global Self Storage Inc. 0.34% 296,190 $1.5M Reduce -11.2%
ABBV Abbvie Inc. 0.33% 6,279 $1.5M No change
VZ Verizon Communications Inc. 0.29% 29,016 $1.3M Add +2.2%
KRNT Kornit Digital Ltd. 0.28% 91,505 $1.2M Reduce -1.7%
EXE Expand Energy Corp. 0.28% 11,519 $1.2M Reduce -1.2%
HON Honeywell International Inc. 0.28% 5,720 $1.2M Reduce -0.4%
CINF Cincinnati Financial Corp. 0.27% 7,538 $1.2M No change
KO The Coca-Cola Co. 0.27% 17,420 $1.2M Add +1.2%
NVDA Nvidia Corp. 0.26% 6,135 $1.1M Add +1.2%
XOM Exxon Mobil Corp. 0.26% 9,966 $1.1M Add +6.6%
LAND Gladstone Land Corp. 0.25% 119,818 $1.1M Reduce -16.3%
CYRX Cryoport Inc. 0.24% 110,000 $1.0M Reduce -9.6%
AR Antero Resources Corp. 0.23% 30,000 $1.0M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.22% 1,435 $956K Reduce -6.5%
GEHC GE Healthcare Technology 0.21% 12,055 $905K Add +0.0%
PEP Pepsico Inc. 0.21% 6,371 $895K Reduce -1.2%
ENB Enbridge Inc. 0.20% 17,575 $887K Reduce -2.4%
GE General Electric filed as GE AEROSPACE 0.20% 2,945 $886K Add +8.7%
HLMN Hillman Solutions Corp. 0.20% 93,301 $857K Reduce -5.6%
ALL Allstate Corp. 0.20% 3,948 $847K No change
AMD Advanced Micro Devices 0.19% 5,149 $833K No change
RTX RTX Corp. 0.19% 4,955 $829K Add +11.9%
LOW Lowe's Cos Inc. 0.19% 3,274 $823K Add +7.2%
RGLD Royal Gold Inc. 0.19% 4,092 $821K No change
HD Home Depot Inc. 0.18% 1,879 $761K No change
LSCC Lattice Semiconductor Corp. 0.17% 10,100 $741K Reduce -0.4%
BF.B Brown-Forman Corp. Class B 0.17% 27,015 $732K New
RXRX Recursion Pharmaceuticals-A 0.16% 139,995 $683K Reduce -1.3%
MCD McDonald's Corp. 0.15% 2,150 $653K Add +3.4%
ABT Abbott Laboratories 0.15% 4,755 $637K Reduce -0.2%
ETN Eaton Corp. PLC 0.15% 1,693 $634K Add +0.5%
PNC PNC Financial Services Group 0.14% 3,077 $618K Reduce -10.6%
MYCG State Street MY2027 Corporat 0.14% 24,227 $608K Reduce -4.9%
PLD Prologis Inc. 0.14% 5,250 $601K No change
SANM Sanmina Corp. 0.13% 5,000 $576K No change
YOU Clear Secure Inc. Class A 0.13% 17,000 $567K Reduce -10.5%
TMO Thermo Fisher Scientific Inc. 0.13% 1,127 $547K No change
SLV iShares Silver Trust 0.12% 12,690 $538K Reduce -1.9%
FCNCA First Citizens Bcshs Class A 0.12% 295 $528K Reduce -30.6%
MYCF State Street MY2026 Corporat 0.12% 20,365 $512K Reduce -5.9%
CSCO Cisco Systems Inc. 0.11% 7,268 $497K Add +18.3%
PCH Potlatchdeltic Corp. 0.11% 12,020 $490K Add +4.3%
CSX CSX Corp. 0.11% 13,548 $481K No change
AVGO Broadcom Inc. 0.11% 1,455 $480K No change
TMHC Taylor Morrison Home Corp. 0.11% 7,000 $462K No change
GTY Getty Realty Corp. 0.10% 16,340 $438K Add +4.8%
RIO Rio Tinto PLC-Spon ADR 0.10% 6,615 $437K No change
PFE Pfizer Inc. 0.10% 17,035 $434K Reduce -82.9%
CRBG Corebridge Financial Inc. 0.10% 13,385 $429K Add +4.7%
SBUX Starbucks Corp. 0.10% 4,940 $418K No change
IBB iShares Biotechnology ETF 0.09% 2,815 $406K Reduce -15.1%
SYK Stryker Corp. 0.09% 1,081 $400K No change
DUK Duke Energy Corp. 0.09% 3,162 $391K Reduce -0.3%
BMY Bristol-Myers Squibb Co. 0.09% 8,564 $386K Add +9.7%
MXL Maxlinear Inc. 0.08% 22,500 $362K No change
NEM Newmont Corp. 0.08% 4,242 $358K No change
CIVI Civitas Resources Inc. 0.08% 10,100 $328K Add +11.7%
MPC Marathon Petroleum Corp. 0.08% 1,700 $328K No change
XRAY Dentsply Sirona Inc. 0.07% 25,575 $325K No change
CNX CNX Resources Corp. 0.07% 10,000 $321K No change
AMGN Amgen Inc. 0.07% 1,138 $321K No change
OKE Oneok Inc. 0.07% 4,300 $314K Reduce -3.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.07% 2,728 $312K Reduce -10.2%
ELV Elevance Health Inc. 0.07% 949 $307K New
NBR Nabors Industries Ltd. 0.07% 7,500 $307K No change
COF Capital One Financial Corp. 0.07% 1,409 $300K No change
SMRI Bushido Cap US Equity ETF 0.07% 8,510 $295K Reduce -0.1%
FNB FNB Corp. 0.07% 18,000 $290K No change
TMFC Motley Fool 100 Index ETF 0.07% 4,001 $282K Reduce -3.0%
EMR Emerson Electric Co. 0.06% 2,067 $271K No change
KEYS Keysight Technologies Inc. 0.06% 1,529 $267K No change
TOL Toll Brothers Inc. 0.06% 1,875 $259K New
TCAF T Rowe PRC Cap Appreciation 0.06% 6,825 $257K Reduce -22.2%
RPRX Royalty Pharma PLC Class A 0.06% 7,266 $256K New
VIG Vanguard Dividend Apprec ETF 0.06% 1,169 $252K No change
NOC Northrop Grumman Corp. 0.06% 407 $248K No change
LMT Lockheed Martin Corp. 0.06% 482 $241K Reduce -5.7%
QQQ Invesco QQQ Trust Series 1 0.06% 400 $240K No change
MGY Magnolia Oil & Gas Corp. Class A 0.06% 10,000 $239K No change
NEE Nextera Energy Inc. 0.05% 3,159 $238K No change
CI The Cigna Group 0.05% 822 $237K No change
VOO Vanguard S&P 500 ETF 0.05% 365 $224K Reduce -15.1%
CP Canadian Pacific Kansas City 0.05% 2,984 $222K Add +3.5%
MMM 3M Co. 0.05% 1,406 $218K No change
EOG EOG Resources Inc. 0.05% 1,941 $218K New
AMP Ameriprise Financial Inc. 0.05% 435 $214K No change
ONDS Ondas Inc. filed as ONDAS HLDGS INC 0.05% 27,500 $212K Reduce -28.6%
IBDQ iShares Ibonds Dec 2025 Term 0.05% 8,425 $212K New
RSP Invesco S&P 500 Equal Weight 0.05% 1,103 $209K New
ODFL Old Dominion Freight Line 0.05% 1,473 $207K New
GDXJ Vaneck Junior Gold Miners 0.05% 2,090 $207K New
CPAY Corpay Inc. 0.05% 707 $204K New
GEV GE Vernova Inc. 0.05% 330 $203K New
CLF Cleveland-Cliffs Inc. 0.04% 15,000 $183K No change
ARAY Accuray Inc. 0.04% 100,000 $167K No change
TXO Txo Partners LP 0.03% 10,000 $141K Reduce -71.4%
LPTH Lightpath Technologies Inc. Class A 0.03% 15,000 $119K Reduce -14.3%
MCHX Marchex Inc. Class B 0.03% 61,500 $110K Add +13.9%
KOPN Kopin Corp. 0.02% 32,500 $79K Add +8.3%
INVE Inve Technologies Inc. filed as IDENTIV INC 0.02% 21,000 $72K Reduce -65.3%
LODE Comstock Inc. 0.02% 20,000 $68K Add +48.1%
BRFH Barfresh Food Group Inc. 0.01% 15,384 $54K No change
AIRG Airgain Inc. 0.01% 11,000 $48K Add +10.0%
DYAI Dyadic International Inc. 0.01% 35,000 $41K New
NNDM Nano Dimension Ltd. - ADR 0.01% 20,000 $31K No change
Other holdings (2): bonds, preferreds, convertibles and warrants · $2.8M (not counted above)
SecurityClassShares / PrincipalValueChange
BANK OF AMERICA CORP (BAC 7.25 PERP L) 7.25%CNV PFD L 1,148$1.5MNo change
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 1,047$1.3MNo change

Total filed on the 13F, all lines: $437.0M.

Portfolio Sells Q2 2025 → Q3 2025
TROW T Rowe Price Group Inc. Reduce -3.3% 16.18% −1.37
SYM Symbotic Inc. Reduce -62.8% 0.49% −0.57
PFE Pfizer Inc. Reduce -82.9% 0.10% −0.52
FIS Fidelity National Info Serv Reduce -0.0% 1.38% −0.52
ALSN Allison Transmission Holding Reduce -0.4% 1.47% −0.37
IBM Intl Business Machines Corp. Reduce -0.5% 2.06% −0.35
MSFT Microsoft Corp. Reduce -4.0% 2.80% −0.32
MET Metlife Inc. Reduce -2.1% 1.98% −0.22
KRNT Kornit Digital Ltd. Reduce -1.7% 0.28% −0.19
CALX Calix Inc. Reduce -17.0% 1.13% −0.19
SRPT Sarepta Therapeutics Inc. Sold out 0.00% −0.18
AMZN Amazon.com Inc. Reduce -0.4% 1.53% −0.18
QCOM Qualcomm Inc. Reduce -0.8% 2.31% −0.18
ARCC Ares Capital Corp. Reduce -2.2% 0.74% −0.17
DAR Darling Ingredients Inc. Reduce -3.0% 0.39% −0.16
BXP BXP Inc. Sold out 0.00% −0.12
LAND Gladstone Land Corp. Reduce -16.3% 0.25% −0.12
VYMI Vanguard Int High DVD YLD Inc. Reduce -0.6% 1.98% −0.12
DHR Danaher Corp. Reduce -0.1% 1.07% −0.12
SELF Global Self Storage Inc. Reduce -11.2% 0.34% −0.11
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.7% 1.30% −0.11
TXO Txo Partners LP Reduce -71.4% 0.03% −0.10
CPA Copa Holdings SA Class A Reduce -1.8% 1.95% −0.10
FCNCA First Citizens Bcshs Class A Reduce -30.6% 0.12% −0.09
AZN Astrazeneca PLC-Spons ADR Reduce -1.5% 2.84% −0.09
CVX Chevron Corp. Reduce -1.1% 2.15% −0.09
TRGP Targa Resources Corp. Reduce -1.9% 0.45% −0.08
COPX Global X Copper Miners ETF Sold out 0.00% −0.08
HDSN Hudson Technologies Inc. Reduce -22.1% 0.44% −0.08
EXE Expand Energy Corp. Reduce -1.2% 0.28% −0.07
HSY The Hershey Co. Sold out 0.00% −0.07
HON Honeywell International Inc. Reduce -0.4% 0.28% −0.07
PM Philip Morris International Sold out 0.00% −0.07
URA Global X Uranium ETF Sold out 0.00% −0.06
WAB Wabtec Corp. Sold out 0.00% −0.06
TOST Toast Inc. Class A Sold out 0.00% −0.06
V Visa Inc. Class A Sold out 0.00% −0.05
CARR Carrier Global Corp. Sold out 0.00% −0.05
KHC The Kraft Heinz Co. Sold out 0.00% −0.05
NOW ServiceNow Inc. Sold out 0.00% −0.05
WM Waste Management Inc. Sold out 0.00% −0.05
ACA Arcosa Inc. Reduce -0.9% 1.02% −0.04
FRO Frontline PLC Sold out 0.00% −0.04
MRK Merck & Co. Inc. Reduce -1.1% 0.66% −0.04
JPM JPMorgan Chase & Co. Reduce -0.1% 1.54% −0.04
DOC Healthpeak Properties Inc. Reduce -1.4% 1.15% −0.04
INVE Inve Technologies Inc. Reduce -65.3% 0.02% −0.03
RXRX Recursion Pharmaceuticals-A Reduce -1.3% 0.16% −0.03
DIS The Walt Disney Co. Reduce -10.2% 0.07% −0.02
MYCG State Street MY2027 Corporat Reduce -4.9% 0.14% −0.02

Portfolio Buys Q2 2025 → Q3 2025
BIL SS SPDR BB 1-3M T-Bill ETF Add +222.2% 2.59% +1.69
ADBE Adobe Inc. New 1.01% +1.01
NVO Novo-Nordisk A/S-Spons ADR New 0.73% +0.73
PAR Par Technology Corp. Add +383.2% 0.62% +0.37
ALM Almonty Industries Inc. New 0.35% +0.35
ADMA Adma Biologics Inc. Add +64.5% 1.58% +0.25
BF.B Brown-Forman Corp. Class B New 0.17% +0.17
MU Micron Technology Inc. Add +3.0% 0.37% +0.08
ELV Elevance Health Inc. New 0.07% +0.07
TOL Toll Brothers Inc. New 0.06% +0.06
RPRX Royalty Pharma PLC Class A New 0.06% +0.06
EOG EOG Resources Inc. New 0.05% +0.05
IBDQ iShares Ibonds Dec 2025 Term New 0.05% +0.05
RSP Invesco S&P 500 Equal Weight New 0.05% +0.05
ODFL Old Dominion Freight Line New 0.05% +0.05
GDXJ Vaneck Junior Gold Miners New 0.05% +0.05
CPAY Corpay Inc. New 0.05% +0.05
GEV GE Vernova Inc. New 0.05% +0.05
WY Weyerhaeuser Co. Add +26.0% 0.39% +0.03
GE General Electric Add +8.7% 0.20% +0.02
RTX RTX Corp. Add +11.9% 0.19% +0.02
CB Chubb Ltd. Add +17.3% 0.82% +0.02
NVDA Nvidia Corp. Add +1.2% 0.26% +0.02
LOW Lowe's Cos Inc. Add +7.2% 0.19% +0.02
CIVI Civitas Resources Inc. Add +11.7% 0.08% +0.01
DYAI Dyadic International Inc. New 0.01% +0.01
KOPN Kopin Corp. Add +8.3% 0.02% +0.01
CSCO Cisco Systems Inc. Add +18.3% 0.11% +0.01
LODE Comstock Inc. Add +48.1% 0.02% +0.00
AIRG Airgain Inc. Add +10.0% 0.01% +0.00
XOM Exxon Mobil Corp. Add +6.6% 0.26% −0.00
PCH Potlatchdeltic Corp. Add +4.3% 0.11% −0.00
BMY Bristol-Myers Squibb Co. Add +9.7% 0.09% −0.00
MCHX Marchex Inc. Class B Add +13.9% 0.03% −0.00
MCD McDonald's Corp. Add +3.4% 0.15% −0.01
CP Canadian Pacific Kansas City Add +3.5% 0.05% −0.01
ETN Eaton Corp. PLC Add +0.5% 0.15% −0.01
GTY Getty Realty Corp. Add +4.8% 0.10% −0.01
CRBG Corebridge Financial Inc. Add +4.7% 0.10% −0.02
O Realty Income Corp. Add +4.5% 1.60% −0.02
GEHC GE Healthcare Technology Add +0.0% 0.21% −0.02
VZ Verizon Communications Inc. Add +2.2% 0.29% −0.02
KO The Coca-Cola Co. Add +1.2% 0.27% −0.05
LLY Eli Lilly & Co. Add +0.3% 0.45% −0.06
SLB SLB Ltd. Add +2.2% 1.07% −0.08
PG The Procter & Gamble Co. Add +1.3% 0.60% −0.09
ENPH Enphase Energy Inc. Add +4.0% 0.47% −0.10
BLDR Builders Firstsource Inc. Add +0.6% 1.62% −0.11
FANG Diamondback Energy Inc. Add +1.5% 2.03% −0.11

Notes & Other Activity Q2 2025 → Q3 2025
IBDQ iShares Ibonds Dec 2025 Term IBONDS DEC25 ETF · principal Sold out 9,175 $231Kbefore exit
IBDR iShares Ibonds Dec 2026 Term IBONDS DEC2026 · principal Sold out 8,375 $203Kbefore exit
IBDS Ishrs Ibnds Dec 27 Corp. ETF IBONDS 27 ETF · principal Sold out 8,300 $201Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 185$492.3MTROW, GLW, BIL, GOOG, AMZN
Q1 2026 169$443.6MTROW, BIL, GLW, AZN, AAPL
Q4 2025 169$462.9MTROW, GLW, BIL, AZN, GOOG
Q3 2025 161$434.2MTROW, GLW, AAPL, AZN, MSFT
Q2 2025 161$389.4MTROW, MSFT, AZN, GLW, AAPL
Q1 2025 156$372.7MTROW, AAPL, AZN, CVX, MSFT
Q4 2024 152$397.3MTROW, AAPL, GLW, AZN, MSFT
Q3 2024 152$409.5MTROW, AAPL, AZN, ALSN, MSFT
Q2 2024 143$389.5MTROW, AZN, AAPL, MSFT, QCOM
Q1 2024 152$416.0MTROW, AZN, MSFT, AAPL, QCOM