MARTEN TRANSPORT LTD Amended Passive Investment Disclosure

Nuance Investments LLC has filed an amended Schedule 13G reporting a significant passive ownership position in Marten Transport Ltd. common stock.

Accepted by SEC EDGAR 01/22/2026 - 01:17 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Nuance Investments LLC has filed an amended Schedule 13G reporting a significant passive ownership position in Marten Transport Ltd. common stock. As of the event date of 12/31/2025, Nuance reports sole voting power over 6,267,339 shares, representing 7.69% of the common stock class, with no shared voting power and no sole or shared dispositive power over the shares.

The filer identifies itself as an investment adviser organized in Kansas and certifies that the securities were acquired and are held in the ordinary course of business. Nuance also certifies that the holdings were not acquired and are not held for the purpose of changing or influencing control of Marten Transport, and are not part of any control-related transaction, other than activities solely in connection with a nomination under the specified proxy rule.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

MARTEN TRANSPORT LTD

(Name of Issuer)

COMMON

(Title of Class of Securities)

573075108

(CUSIP Number)

12/31/2025

(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. 573075108

1

Names of Reporting Persons

Nuance Investments LLC

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

KANSAS

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 6,267,339.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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)

7.69 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: MARTEN TRANSPORT LTD
(b)	Address of issuer's principal executive offices: 129 Marten Street, Mondovi, WISCONSIN 54755
Item 2.
(a)	Name of person filing: Nuance Investments LLC
(b)	Address or principal business office or, if none, residence: 4900 Main Street Suite 220 Kansas City, Missouri 64112
(c)	Citizenship: Nuance Investments LLC - KANSAS
(d)	Title of class of securities: COMMON
(e)	CUSIP No.: 573075108
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: 0
(b)	Percent of class: 7.69 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Nuance Investments LLC - 6,267,339
	(ii) Shared power to vote or to direct the vote: Nuance Investments LLC - 0
	(iii) Sole power to dispose or to direct the disposition of: Nuance Investments LLC - 0
	(iv) Shared power to dispose or to direct the disposition of: Nuance Investments LLC - 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
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.

Nuance Investments LLC

Signature:	Kimberly McEnaney
Name/Title:	Chief Compliance Officer
Date:	01/22/2026

Comments accompanying signature: /