Marathon Micro Fund discloses 2.15M shares (4.9%) in LightPath

Rhea-AI Filing Summary

Marathon Micro Fund, L.P. filed an amended Schedule 13G reporting beneficial ownership of 2,150,000 shares of LightPath Technologies, Inc. common stock, representing 4.9% of the class. The filing states Marathon Micro Fund holds sole voting and sole dispositive power over these shares and that the securities were acquired and are held in the ordinary course of business. The filing includes a certification that the position was not acquired to change or influence control of the issuer. The reported event date is 10/10/2025.

Positive

• Full disclosure of beneficial ownership (2,150,000 shares) providing transparency to the market
• Sole voting and dispositive power is explicitly stated, clarifying control over the reported shares
• Certification of passive intent indicates the position is not currently aimed at changing issuer control

Negative

• Stake remains below 5% (4.9%), limiting immediate regulatory or governance impact

Insights

Investor Ownership Analyst

Minor but notable passive stake disclosed: 2,150,000 shares (4.9%).

The filing records a 4.9% beneficial stake with sole voting and dispositive power, indicating the filer can unilaterally vote and sell these shares though the stake remains below the 5% Schedule 13D threshold. The holder certifies the position is passive and not intended to influence control.

This position is most relevant in the near term for monitoring any future amendments or moves above 5.0%. Investors may watch for additional filings that would signal an escalation from passive ownership to an activist or control-seeking posture.

Securities Compliance Specialist

Filing appears compliant with Schedule 13G reporting requirements.

The document includes required identification, ownership amounts, voting/dispositive power details, and a certification concerning ordinary-course passive intent, which aligns with Rule 13d-1(b)/(c) reporting conventions for passive investors. The signature by the fund president and the specified satisfy typical form formalities.

Key compliance items to note: the reported 4.9% ownership keeps the filer in the 13G disclosure category rather than 13D; any future increase above 5.0% would trigger different timing and disclosure obligations.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 2)

LIGHTPATH TECHNOLOGIES INC

(Name of Issuer)

Common Stock, Par Value $.001

(Title of Class of Securities)

532257805

(CUSIP Number)

10/09/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 532257805

1

Names of Reporting Persons

Marathon Micro Fund, LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 2,150,000.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 2,150,000.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

2,150,000.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

4.9 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: LIGHTPATH TECHNOLOGIES INC
(b)	Address of issuer's principal executive offices: 2603 CHALLENGER TECH CT, STE 100, ORLANDO, FLORIDA, 32826-2716
Item 2.
(a)	Name of person filing: Marathon Micro Fund, L. P.
(b)	Address or principal business office or, if none, residence: 4 North Park Drive, Suite 106 Hunt Valley, MD 21030
(c)	Citizenship: Marathon Micro Fund, L.P. is a Delaware Corporation
(d)	Title of class of securities: Common Stock, Par Value $.001
(e)	CUSIP No.: 532257805
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 2,150,000
(b)	Percent of class: 4.9%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 2,150,000
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 2,150,000
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Marathon Micro Fund, LP

Signature:	James G. Kennedy
Name/Title:	President
Date:	10/10/2025

FAQ

What stake did Marathon Micro Fund report in LightPath Technologies (LPTH)?

Marathon Micro Fund reported beneficial ownership of 2,150,000 shares, equal to 4.9% of common stock.

Does Marathon Micro Fund have voting control over the LPTH shares?

Yes. The filing states the fund has sole voting power and sole dispositive power over the 2,150,000 shares.

Was the stake reported as passive or intended to change control of LPTH?

The filing includes a certification that the securities were acquired and are held in the ordinary course of business and not to change or influence control.

What filing form was used and when was the event date?

An amended Schedule 13G (Amendment No. 2) was filed reporting an event date of 10/10/2025.

Would an increase in the stake require different reporting?

If ownership rises above 5.0%, the filer would generally no longer qualify for Schedule 13G and would face alternative timing and disclosure under Schedule 13D rules.